Someone wanna attempt?Originally Posted by ;
I'll try.Originally Posted by ;
Should I just look at the numbers, I would like to be short from 74 and long from 15.
For London, next greatest short was 62, that price got very close to on 11:15 pub after bearish action. For US session I'm struggling, short from 74 or long from 15, but it didn't reach either. It got to 56, but 48 was there.
Once I was watching the chart around London open, my true thought was long from 48, and I'd pronounced the 01:30 pub (64-68) as an area that might hold for short. I didn't attempt anything and then wasn't real sure about .
Good... First response is you wanna be short from 74 or as near as possible as long from 15 or as close as you can. Next you can do a little simple math and see if those two lines from the day before may be any good... well, the 62 may be good for a short... 12 pips of risk and 40 reward (reward is not into the 48 line). The 48 line likely is not likely to be as good because we have too much risk in any event. BUT, if those lines are meaningful in any way at this point we must find out.Originally Posted by ;
If I'm around for London, I look and see whether both of those lines are in drama... well, the 62 could be. Price is approaching and giving bearish action. Nothing significant in 48 line at that time, price paused there, but then proceeded up. We get some bearish activities and you are able to input the retrace to be as close to 60-62 as you can. You do get any bullish activities however is that a good long? Likely not... look at the facts of price and you will realize the gap in the short versus the long.
US session... nothing much really, still wish to be in from closer to 62, but price did not end up there before the drop.
As for instance, you get a speculative long after in the day, the large overnight wick provides you some hope, and that's the only time the risk reward gets appropriate for your long. This makes sense.
So, Rearden, point of this exercise: Journal, see the chart, consider risk... all before worrying about hitting on the button.
NOTE: I will use this space in 2018 to journal a separate project so wished to give warning when you see some strange posts/trades. (No, I am not changing how I trade or anything and have marked significant posts in article#1 in the event that you stumble upon this thread and also want to know how I trade)
Tadeusz, Rearden, and anyone else feel free to continue posting your transactions for review and commentary.
Hi G,Originally Posted by ;
Noted. I had been busy with Christmas actions. So couldn't respond earlier.
Merry Christmas for you and everyone here.