I sold EUR/USD trying to catch the move down to weekly support area.
[QUOTE=“blackhand;492417”]I sold EUR/USD trying to catch they’ve down to weekly support area.
<img src=“301 Moved Permanently”/>[/QUOTE]
I cant understand why you would sell at support. Been looking for buys. Bought on Monday and bought again today.
[QUOTE=“Amanfx;492362”]Didn’t realize you got a job Nikita…
Or did I misunderstood.[/QUOTE]
Ive posted a couple of times that I have a job and I am no longer In Malaysia previously Aman.
I thought I had around 100 pips to go before the support area. Can you post charts?
[QUOTE=“danielbg;490932”]
Nikitafx, is USD/CHF daily chart a clear signal (doji after a shooting star) of sell?
<img src=“301 Moved Permanently”/>[/QUOTE]
Look at the charts now, the bears or shorts are in on USD CHF.
They waited for this week, waited for price to climb back up like how I said it might.
I said might last week cause until we see the right entry candle forming on the smaller TF, nothing is confirmed.
But its still possible to read the candles and know what price is going to do next. That is how we do a trade plan.
Once we see a possible move and have a trade plan, than its just a matter of waiting for the price levels and the entry signal.
We could have shorted earlier.
SL has to be big, and since SL larger, chances of trade giving us a minimum 1:2 ratio of return becomes harder to achieve, unless its a good swing.
Many traders who take early trades give a big allowance for their SL and reduce their risks to 2% or less.
I prefer to wait and enter on a micro level. Better risk to reward ratio, better returns.
[QUOTE=“blackhand;492460”]
I thought I had around 100 pips to go before the support area. Can you post charts?[/QUOTE]
You had identified weekly at support area correctly.
A hundred pips is nothing on such a high TF. Even a SL of about 100 pips, trading the weekly TF is quite small.
Secondly, yesterday was already a bull.
Thirdly, look at Monthly TF and we can safely assume that a rejection at this level will be quite strong, in view that last month was a strong bull candle.
So to push our luck to say it will still go down a hundred pips or so is really very risky.
I was expecting the price to reject earlier based on the monthly, but since it had dropped further, I wont be holding trades for longer than a day, unless there are other reasons developing later to say otherwise.
But a rejection is expected.
Thanks Nikita. I didn’t look at the month and I was gambling on one more down weekly candle and that we already had the weekly high. That’s what I get for losing focus and not putting in the work I know I should. Thanks for the comment. Lesson learned.
Again, thank you for your insights!
Could you share a link with us to a thread or something with information and examples about this subject?
[QUOTE=“Rossem;492510”]Again, thank you for your insights!
Could you share a link with us to a thread or something with information and examples about this subject?[/QUOTE]
Unfortunately I dont have any.
You can try Neil fullers materials, as its also price action.
Try to avoid material that complicates things by adding extra stuff for trade entries.
Dollar index etc etc. keep it simple.
Important that you spend time watching how a candle forms, from its opening all the way to close. If we are familiar with this, it helps when we pick entries based on our daily TF.
[QUOTE=“blackhand;492467”]Thanks Nikita. I didn’t look at the month and I was gambling on one more down weekly candle and that we already had the weekly high. That’s what I get for losing focus and not putting in the work I know I should. Thanks for the comment. Lesson learned.[/QUOTE]
I remember a trade of mine some years ago.
I shorted it after it fell a hundred fifty pips, thinking i can catch some of the remaining 50 odd pips before it hits previous support.
This was on the H1 chart. Mind you, this is going back to the time I was using EMA’s and other nonsense.
I lost my mini account on that one trade.
When you said you thought you had another hundred pips, it brought back memories.
Dont worry, its a mistake everyone does.
Wow with in one hour I got 96 pips from nzd usd short trade , I enter a pending order sell limit @82784 yesterday night , 35 pip stop Los 96 pips tp. It’s enter and reach my tp in one hour ,
[QUOTE=“sagrifa;492871”]Wow with in one hour I got 96 pips from nzd usd short trade , I enter a pending order sell limit @82784 yesterday night , 35 pip stop Los 96 pips tp. It’s enter and reach my tp in one hour ,[/QUOTE]
Great! Can you post a chart?
0.8278? It didn’t even reach that level. I checked some of your last posts here. Are those trades according to Nikita’s method?
Or any other method? It’s good to see your chart to understand what you did there.
My advice is don’t use this thread to journal your trades. This is a great thread with great information. Your posts are just crap and increasing the thread pages. No use at all.
Post chart with analysis according to Nikita’s method.
Cheers.
[QUOTE=“blackhand;492877”]
Great! Can you post a chart?[/QUOTE]
Sorry for not post the chart , because I am outside today , I don’t know how to post chart in iPhone , I will post tonight when I reach home ,
nzd usd daily chart
nzd usd 1h chart
[QUOTE=samba;492927]0.8278? It didn’t even reach that level. I checked some of your last posts here. Are those trades according to Nikita’s method?
sorry sir samba , its not 0.8278 ,its 0.8178 .
thank you very much for your advice sir ,
i am thinking you are not newbe here your sound like a senior member 
Oh my, this looks really promising. 
I was looking for methods to try out and this one definitely fits the bill! Really great post Nikitafx! can’t wait to try this out.
[QUOTE=“sagrifa;492871”]Wow with in one hour I got 96 pips from nzd usd short trade , I enter a pending order sell limit @82784 yesterday night , 35 pip stop Los 96 pips tp. It’s enter and reach my tp in one hour ,[/QUOTE]
Beautiful entry!
I was hesitant to short that resistance level on EU, than the first hour candle closed with two big of a wick for a SL, so i did not take that trade.
Great job buddy!
Hi,
Could you expand a bit on that please
PG
[QUOTE=“pgtips;493317”]
Hi,
Could you expand a bit on that please
PG[/QUOTE]
Watching a candle form, especially a candle from higher TF, we will understand how the price waves in smaller TFs form the higher TF candle.
This will go to help us pick entries with smaller SL