Hello Traders
If you think this might be a good set up, where would you place the buy order, stop loss, and most importantly, where would the target price of let’s say a 1:2 risk to reward ratio be?
Do you come up with a target price by multiplying the price difference from your stop loss to the entry point by your preferred risk to reward ratio? this is what I gathered from watching You tube videos
Oh, is that a 3 outside up?
Whether this is a buy or not depends at least as much on your intentions as it does on the chart - its as if the chart has to be viewed through the lens or filter of your usual trade plan.
My trade plan involves getting into strongly trending pairs in the direction of the trend. On that basis, this is not a good buy candidate for me regardless of the trigger signal.
Depends why you think this is a good setup. Is it because of trendline break or retest of emas and candlestick pattern or another reason? Whatever the reason is how you would decide where your SL and entry is.
Dont know what this means
I understand a Three Outside Up relies on the middle (outside) candlestick opening below the close of the preceding bearish candle. This can’t happen on intra-day charts and in forex it also can’t happen on daily charts since the forex market runs 24hrs a day. The close of one day’s candlestick is therefore automatically the open of the next and no gaps are possible, apart from across the weekend.
Have you completed Pipsology?
Good morning
Well I’m not that far into trading to have come up with a tried and true strategy. but follow a very simple price action strategy that you draw your zone areas and trendlines, and after a breakout,you look for entry, appearing a confirming pattern is a bonus.
Let’s say I want to enter the trade right after the Almost bullish engulfing pattern forms, where would you place target price?
Hi, How about all the reasons you mentioned? 
And the 21 EMA is above 50 and 200 EMA
If you were to trade this, how you’d do it?
I’m super new to trading, but uber eager to learn it
Then your SL would be below the last swing low. Break of the trendline and EMAs tell you market is bullish. Then the last swing low or higher low shouldnt be broken.
I don’t have the problem of setting TP’s, my long-term trades all follow long-term trends so I don’t set a TP. Instead what I’m planning to do is to pyramid the positions and ratchet the SL’s towards profit as we go along, at say 1.0r or 0.5r according to how “trendish” the markets are currently.
What is pipsology? Is there beer involved? o,O
What helps you find good entry points?
If the trend is strong then the entry point is of much less importance. In an uptrend say, any lower close or lower high offers levels of price weakness where an entry can be made at a discount to the highest recent price. Being a strong trend, price is likely to resume rising of course and as it passes upwards through a lower price level this is a decent rationale for an entry buy order to be triggered. All my entries are off pre-set orders.
It’s the free education section.
