Good luck and keep us updated please
Thank you Treeny! I will.
So you’re looking for M tops and W bottoms for reversals at daily and weekly highs and lows? John Bollinger’s book on Bollinger Bands treats them exhaustively, suggest you take a look. You’re trading H&S patterns as well by saying break of the neck? A failed H&S pattern is a stronger signal as it leads to trapped traders, or one that retest the neckline and holds before continuing, gives a great probability of success.
Since you’re using 15m, try looking at ATR for 15m and ATR for the day (ADR). Don’t aim for the full ADR on just a 15m pattern.
Thank you! The H&S though is a type of M/W Pattern with a stop hunt. I will check that book out. Thanks again!
So I am planning to short GBPJPY according to the analysis below. Expecting a pop up to the high in London, then fall.
Also I am planning to short GBPNZD according to the analysis below. Expecting a pop up to the high in London, then fall.
UK is on Spring Bank Holiday. Just a reminder. Weird things happen sometimes. US is also on holiday.
Second position added at 139.491. Stops now at breakeven on 1st and -8.5 on second. See where its at pre-us.
I actually looked at GBPJPY because of your post. Fit some parameters I use. Went in four 0.20 lot shorts. Made $127. I’m fine with making just that, didn’t take too long. Thanks for the heads up. If I ever see you I owe you a beer.
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Awesome Gilas Trading! Just woke up and about to take profit
Just took profit for +87.5pips, anticipating a pullback. Going back to bed and ill see what NY has in store.
Tp had I only slept for a wee bit more.
Stopped out -21 pips. Learning not to pre-empt. Confirmations are key
Seems to me like you were frustrated because you didn’t get the full move, “only” 87 pips. Might have been my fault partly for telling you I closed early. Sorry. Always think profit is profit my friend. We can never really enter at the high and get out on the low all the time.
