Forex price action trading

Vas62 said:
That upper trendline rejection works well so far.
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Yes Vas, usually if it bangs into a trendline more than 2 or 3 times you know it will reverse, smart money is fooling newbies, and bad bots. The thing that made me change my mind is the last down leg did not go all the way to the trend line it reversed before reaching it that's a good indication usually of coming back and cutting through (hopefully for me). I think if we trade for 5 to 15 minutes under 1.245, we have great chance to see 1.227, that will be my target for now.
Good trading.
 
Stopped out and reversed two positions at 1.2469 stop at 1.2425 (rushed too much to go long), looks really strong may be I am right since the beginning, we will go to 1.27? Who knows, for now one trade 2pips and the other made 12 pips. I wonlt count them.
 
I changed my mind I went back short at 1.2462, lost 8pips ok not counting them. Stop at 1.2492. I went back because I hate when I change my plan too many times.
 
So when do you sleep? Looks like you following it 24/7 :).
By the way it was like classic book example with this triangle. Fake breakout,coming back not all the way and then down again. Congrats on your profit from this last short.
 
Vas62 said:
So when do you sleep? Looks like you following it 24/7 :).
By the way it was like classic book example with this triangle. Fake breakout,coming back not all the way and then down again. Congrats on your profit from this last short.
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It was exceptional, last night I had three positions, lost sleep!! Actually I lost 30 pips on tatal on this trade, because I moved my stop to 1.2492, but took profit on a third position I entered at 1.2460 took profit at 1.2409. I am happy it could have been worse. That was a very difficult one and still very difficult. Out will wait a little vefore making a decision, I am not in a state to trade anyways! I will count it as two losing trades of 30 pips each.
Enjoy the week-end.

16 trades, Profit: 607 losses: 191 pips P/L: 406 pips
10 winners, 6 losers.
 
I cannot hold my hands, going in overtrading mode, I don't like it. Short 1.2488 stop 1.2510, target 1.2428.
I should lower my target, it has been my problem for some time. Fingers crossed, if this afternoon it trades higher then it will go up to 1.27. Risk vs Reward here is good for a short.
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Stopped at 1.2510, for 22pips loss :-( Going back short two positions at 1.2539 stop 1.2579. Target 1.2439. Now we will go long at a descent pull back. the low at 1.2398 should hold in case of a pull back. Had I stuck to my plan from the beginning I would have been a little higher but with a lot less stress and work. Back to long term 4 hours, that's what works for me, when I find myself almost day trading that's where I lose it all.
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17 trades, Profit: 607 losses: 213 pips P/L: 394 pips
10 winners, 7 losers.
 
Closed the trade at 1.2518 for 21x2 profit, I need this for my ego to feel better.
19 trades, Profit: 649 losses: 213 pips P/L: 436 pips
12 winners, 7 losers.
 
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