Posting the pairs I’m looking at for this week…
EURUSD using 3 Ducks is looking good for H4 and H1. Waiting for M5 to cross below the 60MA.
EURUSD H4
Posting the pairs I’m looking at for this week…
EURUSD using 3 Ducks is looking good for H4 and H1. Waiting for M5 to cross below the 60MA.
EURUSD H4
For EURUSD, I forgot I was waiting for M5 to cross the 60MA. I entered as soon as I saw it which was a bit late. I opened a short position at 1.13111. Then I thought it was going to reverse so I closed my trade prematurely at 1.12957. Seeing that it went below 1.127 is driving me nuts.
For my USDJPY trade, I opened a long position at 113.546. Still looking good so far but each time it retraces a bit I get nervous and want to close.
USDJPY H4
Just like now that price has crossed 114, I wanted to close my trade then wait for a retracement to enter again.
if you plan on doing that then you might as well keep that original trade open lol do you move your SL’s?
move your SL past break even, and that way you won’t be nervous because you’ll guarantee profit
How has it worked for you lately? is it profitable?
Staring at the charts makes me want to do something… anything… Yes I do but for this trade I feel like if I move it too tight I might get stopped out by a temporary move.
Ok, I’ll do that. Thanks for the input @justshell. Much appreciated! Moving my SL past break even to an area I see as support.
@jorgemontero So far, yes it is but I have to say that I haven’t opened as much trades as I would want to. Then I still have problems in setting my TP and SL.
I’m glad we are able to do that, I feel like there would be a lot less profitable traders if we couldn’t adjust SLs
That is also my problem when I am trading. Have you tried doing back testing? Maybe it can give you an idea how much per average is a good SL and TP.
I can’t backtest the way I want to on TradingView,like I have to stay on one time frame to do my backtesting,every time I switch to another time frame it goes back to current -_-
I’m eyeing another quick breakthrough on the upside of 114 keeping it a small & skim trade just to test the bullish USD/JPY sentiment since I took my 2 profitable trades for today. Hoping for a hawkish sentiment on Powell speech & release of the minute notes
Also possible EMA/MA crossover for bullish EUR/JPY probably will monitor how it goes.
Haha change that stop loss triggered. (Hahaha whatever the hell happened was super BEARISH on USD part)
The reason I wanted to close my trade was because I was thinking that 114 being a psychological level might be a strong wall that would bump price down strongly. And it did… ngggghhhh, 113.68
See I already profited off it 2 times earlier hitting the 114 R wall so I’m ok with it now for sure. Lost some on my profit I gained earlier but nothing to drastic