Just looking at the Eur/Cad. Do you take retrace entries on inner bar signals?
It all depends on how strong the pair is and is there any news coming out, when i do take that kind of a trade i will put a tight stop.
Inside day signals are consolidation flags, it’s not really a good idea to try nail retracement entries. It can work but you’re entering before a breakout is confirmed. For that extra risk you can achieve more returns but I like to be triggered in with an actual breakout on these guys.
Jump in with the momentum that way you know it’s playing out in your favor.
Thanks - I really like the method being taught here. I was thinking of joining your website but it appears to be down?
Sorry about that Day Trader,
The members area just got so big that I had to get an upgraded server for the site. Unfortunately, the process does cause a bit of down time. It’s only temporary, that said it can up to 24 hours so the matter is out of my hands.
Fingers crossed it will be back up soon.
dnb working on his site sue to minor problems ,you are welcome but you wont regret after joining.
Cheers for the update. I appreciate that.
Hello guys! Great tread, DnB! I’ve been learning PA in the Johnathon’s tread for some time, now I also want to learn your method as well, cause it’s also really interesting, so I’ll try to participate here with you:)
Ok, so my first trade - I just entered LONG with Daily CAD/JPY (on break of High of Indecision Candle). As I understand, it qualify for the rules of this tread: with current momentum (10ema above 20ema) and is relatively close to mean price, - but if anyone’ll see a mistakes here, please let me know!
Good luck, everyone:)
ps When I try to replace one screenshot with another Babypips just keeps both of them, sorry for this:38:
Hey Serge,
Looks good, just have to watch these CAD trades as they can be a little more difficult to ride out. As they tend to form deep retracements, most traders can’t deal with this sort of price action as it makes their trade P/L swing up and down. Of course everyone likes their trade to shoot into profit and stay there but the CAD is a tough beast to tame.
I would try to aim for at least 2x what you’ve risked. 1:1.25 doesn’t really give you a good edge in the long run. With 1:2 you can lost 1/2 your trades and still make progressive profits.
Also just to let everyone know the website i back up and running and war room members should be able to access the chat room. I would have emailed you but the server email isn’t up and running yet.
Regards
Oh just a quick update on that EURCAD Indecision breakout…
We’ve finally seen a breakdown in price as the bulls have been shaken out.
See what I mean though about the CAD, how it can often retrace harshly. This setup retraced 100% before triggering the trade.
yesterday eurjpy gbpjpy made a false asia bo and reverse trade triggered, anybody took this trade here.
hi dnb,
yesterday due to slow network connection ,i couldnt open mailbox ,but i ant able to access chat room ,sorry for late reply.
all problem over regarding the site…
Hi Sergie,
Did your SL got triggered ? If yes , Do you know what went wrong with the trade or there is some insight which is missing to trade indecision bar ?
Would love to hear from DnB ?
Cheers
HA
PS - The thread is really good but the discussion flow is quite low …
I am sure stops were triggered across the board here, the EURCAD trade I had going got completely wiped out.
A massive 400 pip reaction from the FOMC news at the end of the new york session. I am staying out of the markets until they stabilize, these aren’t the conditions that a favourable to trade in.
Hi DnB,
Thanks for quick reply… Good thread for PA . I hope I can give some inputs and charts too.
Thanks
HA
I am sorry to hear that, its very unusual to see that.
Hello, Hemantarora and everyone! Sorry, I was so lazy and didn’t tell you guys how it went…
Yes, that trade died because of fake breakout lol:36: I suppose this is something that can happen anytime with this particular signal. Sure, following a trend makes such scenario less often - but at the point where I started the trade both the divergence of two emas and the slope of 10ema (most important aspects, as I see it) were minimal. - Probably this was also not a good sign.
Now I have either to accept the risk I just spoken of, or stop taking trades, when emas are too close and not vertical enough. If anybody have an idea, I would love to hear it:)
Currently I’m in AUD/CHF Daily (SELL), entered after reversal at resistance area:
So far - everything is good with this one, BUT I’ve been already stopped twice at EUR/JPY and AUD/CAD. Now, the funny thing is in both cases these trades would survive, if StopLosses were put traditionally! However, I would not take any of them with SL above High/Low, because reward would be less then risk, so going into these two was a mistake in general…
Hi Guys,
What do you think about the charts below:
EURCAD (Entry at 50% retrace)
The Bearish candle(but closing bullish) is below EMA’s and also at good FIB support.
CADCHF (Entry at 50% retrace)
Good Bullish candle but closing bearish
Cheers
HA
Hi, on EUR/CAD I entered @ the PB body and aim at 1:2.5 here. On CAD/CHF I have buy limit on 40% retrace - this will (hopefully) lead to 1:2 RRR.