Hey dude - I did take a couple of hits but still finished the week in good profit. I saw your post on gold but didn’t follow it through as I didn’t know when to place a trade. But I’m looking forward to this upcoming week.
Trade 20 we will use a buy limit order here;
buy limit at 1.63565 on gbpaud
stops= 1.62950
buy limit at 150.193 on gbpjpy
stops= 149.580
risk 1% on each of the trade.
Reason for trades; retracement entry on bullish signal formed at support.
Another method you can enter is to sell buy stop on the high of the last daily candle on gbpaud and gbpjpy, puting stops= 60pips.
Note; the demerits of this method is that price may hit up without retracing to hit our price.
Created those orders - Let’s see how those pan out.
PS: Hope you had a good weekend.
So on my platform I place an order to buy at 150.19 with stop loss at 149.58 do I set a TP limit
Thank you
Cool! I’ve set those orders, hope everything goes well this week! Its almost 11pm here in UK so I’m gona call it a night an see where we are tomorrow, thanks for the signals.
sorry guys i forgot to include targets= 200pips on each trade.
hello, very nice thread. im trying to learn price action myself.
by the way, what timezone setting do you use? i mostly missed your trade setups?
do you use 8 and 21 EMA as well on H4 charts? sorry for the questions. be watching for the next trade setup.
i use gmt +2 meaning at new york 5pm close its 10pm over here. Yes i uses 8/21 moving averages. To follow my signals go thru this thread theres a post on that.
Happy trading week to all
well i dont why the broker did not get me in on the gbpjpy trade; we set a buy limit at 150.193 and according to the chart price moved down to 150.178 but my buy limit was not activated may be due to spread.
well a bullish signal is about to fomed on the 4 hours chart so if its forms we will buy on and put stops= 60pips, targets= 200pips risking 2% here. You may cancel the buy limit on gbpjpy.
I’ve been watching the markets since 7 and I’m pretty sure it didn’t reach out buy in price.
buy gbpjpy now at 150.824
or buy now
putting stops= 60pips
targets= 200pips
reeason for trade: bullish signal on 4 hours please risk 2% on this trade.
150.178? the lowest point was 150.201 on the previous candle for gbp/jpy
which broker do you use cos i use alpari uk price reach 150.178 but did not trigger our buy limit at 150.193 may be my eyes is deceiving me . may be not.
happy trading .
50% retrace on the GY was at 150.21 and prob orders waiting at the previous lo from Thursday at 150.26 - but nice retracement trade
I agree - did not touch my limit either
I’m using Capital Spreads. But hey your the pro, ignore what I say. I follow your calls.
i have seen it on my ecn fxopen the lowest price was 150.210 on fxopen, on alpari uk 150.178 thats very funny brokers with different prices. sorry folks for the blind argument
150.17 on etoro
Weird indeed. Oh well lets continue to build on profit.
ive set buy limit order at 150.824, or is it better to buy now?
i said buy now , i never said buy limit ; there are two different order types.