I don’t normally see the news, and I have taken the trade because all the elements was in place. It really does not matter what the news is, price will move according to the wave.
What news does is move the price really fast then the normal speed.
So would you take me through the TA of this trade. TIA
Hi daydreamer65, did you read the thread properly, if you have then you will understand what I want to say.
If you see the previous week and daily candle both of them are bullish.
So Bias is bullish, and we will only look for go long. We will wait until the price come back to the support which was resistance previously.
If you see the 1HR candle where my entry you will see pin bar candle form around 1.40739 in support area so you buy, with the SL under the previous wave.
Just remember resistance broken becomes support and support broken becomes resistance.
I am not good at explaining stuff, hope you understand the reson behind the trade.
Yes thanks for that I do know the title of the thread that is why I asked.
I hope all NFP reports treat you the same.
Thanks for your reply & good luck in your trading.
Normally I avoid trading Monday and Friday and NFP report comes on Friday.
So NFP report will not make much difference.
If today was Friday I will not open any position.
So are you saying that you took the E/C trade today because
there was no Non-Farm Payroll today?
I took the trade because all the elements of the method was present.
I think you need to re- read the thread and understand the method then you will know why I took the trade.
I am not an experienced trader I am still learning this method.
EuroAussie DTF
Good things come to those who wait.
Excellent entry Nikita.
EuroGbp.
123 pips after so many days is nothing to write home about.
But the concept works.
[QUOTE=“sharebazar;554830”] Excellent entry Nikita.[/QUOTE]
Two to three profitable trades is enough for a month.
We learn bad habits of high frequency trading when we start out and most dont get out of it.
We will never make it if we are constantly giving away profit on rushed trades.
UC buy the other day complimented by EA buy two days ago is enough for a months trading.
Now no pressure, just wait and watch.
Hello Nikita. I’m bit confused here. EA last week was sell candle. But you took a buy here ? Cause there was no confirmation or indecision candle in weekly. Could you please tell us why you went long there ?
Okay. I did understand going long here. Cause last week candle closed as a hammer. Price has chances to shoot up. But I din’t get the entry part. Was the entry on friday or monday ?
[QUOTE=“gs8888;555008”] Okay. I did understand going long here. Cause last week candle closed as a hammer. Price has chances to shoot up. But I din’t get the entry part. Was the entry on friday or monday ?[/QUOTE]
Entry was like 13 trading days a go.
Bpunce off the support.
[QUOTE=“gs8888;555005”] Hello Nikita. I’m bit confused here. EA last week was sell candle. But you took a buy here ? Cause there was no confirmation or indecision candle in weekly. Could you please tell us why you went long there ?[/QUOTE]
1.41465 previous PA on weekly.
Also same pullback area on monthly.
Than we zoom to H4 and we can see atleast three pinbars there indicating that price is being actively batted north.
I got a entry withSL of less than 30 pips so I took it.
Two previous buy candles reinforced the fact that price might swing north. Since entry was right at the bottom I could hold without second guessing daily bias.
A good entry is all about at what price we get in.
[QUOTE=“Nikitafx;555017”] 1.41465 previous PA on weekly. Also same pullback area on monthly. Than we zoom to H4 and we can see atleast three pinbars there indicating that price is being actively batted north. I got a entry withSL of less than 30 pips so I took it. Two previous buy candles reinforced the fact that price might swing north. Since entry was right at the bottom I could hold without second guessing daily bias. A good entry is all about at what price we get in.[/QUOTE]
Its like UC weekly pullback two weeks ago.
Pin bar, than pullback to bottom and we entered.
I got off right at the top when second day candle bounced on same resistance. Told me guys who r watching weekly are still net negative.
Made a total of 180 pips with two entries so I took what was on the table.
Next day price went south on weekly, destroying the pin bar entry on weekly.
Could afford to cut off early cause again entry was on H4 right at bottom.
Monthly EA
Weekly EA
And H4.
Remember BPC? Breaks out, falls back to previous breakout area than shoots back up in the same direction?
Well if we look at our monthly we see our breakout.
Our weekly shows pullback.
h4 shows signs of continuation.
Thanks for the reply Nikita. I did get it now. So, It’s kinda same with GBPAUD as well ? Cause in weekly chart, Prices have broke up and are retesting the support level. ? If so, What would have been your entry ?
[QUOTE=“gs8888;555069”]Thanks for the reply Nikita. I did get it now. So, It’s kinda same with GBPAUD as well ? Cause in weekly chart, Prices have broke up and are retesting the support level. ? If so, What would have been your entry ?[/QUOTE]
Ive never seen a chArt of gbpaud before gs888.
U guys sure scan the horizon.
The quirkiest and easy to trade PA to date ive seen is EuroAussie.
I dont even actively trade yen pairs because the PA sucks.
I looked at EuroGbp cause someone pointed it out.
Its just not worth reading into it!
Hi Nikita, I only start to learn your method, here you say two to three trades a month is ok, How do you filter which is best?