Entry triggered just below the 61.8 fib retracement.
Entry: 1.4168
SL: 1.4100
TP1: 1.4298
TP2: 1.4383
This pair has retrace to 61.8 fibs, past resistance now support at this level. And its resting on top of the up trend line from th 4H. These fits the criteria of a nice Long entry. Audjpy and chfjpy charts looks similar. Nice long entry on all 3 charts.
Entry: 127.20
SL: 126.18
TP1: 129.29 (R/R 1:2)
TP2: 132.31
See chart below.
What was the candle formation that triggered this please Mr Kitek?
No particular CF Mark.
First target reached at 1.4298, a gain of 120+ pips. TP2 move to b/e.
Another good entry, TP1 reach for a gain of 200+pips. TP2 move to b/e.
Audjpy and chfjpy also had similar gains.
So why did you get in at that particular point then please Damion?
Read the post again, it clearly state why. I think you want to ask “why I didnt enter on a reversal CF”. I dont always enter on CFs.
Second target manually close at 131.34, a gain of 400+pips.
Lol, as helpful as ever eh Damion.
TP2 reached at 1.4383, a gain of 200+pips.
Here we go - trendline bounce off 68 -32 confluence. Draw trendlines on weekly,daily and 4 - draw strong horizontal lines touches (SR) on W,D and 4hr. Watch for candle formations.
watch for round numbers 50 and 100 and no i’m not one of Dra’s students but he knows what he is doing. hit rate about 65 to 70%. You can also use other price action signals like inside bars,fakey set ups etc.
A possible short coming up on this pair at the test of the trendline and the retracement to the fibs. 61.8 which is also where past support is now resistance.
See chart below…
Theres a nice Gartley formation on eurgbp right at the inner up trendline. A possible bull run in the making to test previous highs. I didnt take this entry because I stop trading for the week (NFP). I’ll resume trading on Monday.
See chart below.
hey rob123,
take a look
been a busy week
Trendtrader good going - that one made a few pips heh. Rob
My first trade of the week will be this Gartley formation(a convergence of the fib. extension 127 and retracement 61.8 at the upper TL). Theres also past resistance thats now support at this level.
Entry: .9050
SL: .9000
TP1: .9153 (R/R 1:2)
TP2: .9272
See chart below.
Both pairs are testing the 61.8 fib retracement at the TLs. Also past R levels now S and vice versa. I like both pairs going in the direction of the current 4H trend determined by the TL. I like both pairs to go as far as the fib. extension 161.8
EURUSD
Entry: 1.3344
SL: 1.3293
TP1: 1.3453
TP2: 1.3755
USDCHF
Entry: .1395
SL: 1.1445
TP1: 1.1286
TP2: 1.1141
See charts below.
Unfortunately Both entries stopped out for a total -100pips.