Fx futures Journal
- Thread starter Buy1Sell2
- Start date
Good luck Romik.
b1s2 in this JPY trade you mentioned you would trail the stop. How far do you trail the stop ? Is this something your system does automatically or do you adjust every evening based on the chart itself ?
(I asked you something in the live cattle thread also)
Thanks !
b1s2 in this JPY trade you mentioned you would trail the stop. How far do you trail the stop ? Is this something your system does automatically or do you adjust every evening based on the chart itself ?
(I asked you something in the live cattle thread also)
Thanks !
B1, have you heard of a wolfewave before? Today's' BRD on 3 min chart could have been timed to perfection using the strategy, coupled with triple BRD on MACD and short grails (also on 3) made a perfect plan with very clear entry and exit points. Here is a chart.
Establishing points 1, 2, 3, 4 two lines are drawn. 1 through 3 and 2 through 4. After that a line is drawn through 1 and 4. When price hits upper horizontal line a short is initiated at point 5 and target is at the point when price hits line running through points 1 and 4 (RED ARROW IS A COVER POINT). One does not need to use this for entries, but to determine an exit it is very useful, especially when longer trend is in the opposite direction of the trade.
I think I was just unlucky with my trade, as 3 min BRD has worked perfectly, 10 min one failed.
EDIT: Essentially it is a timed H&S pattern, wolfewave simply calculates entry and exit points, which otherwise are mostly approximate values, based on what the indicators are showing and/or price action.
EDIT 2: Same set-ups were present yesterday in the ES (long) and just now short on ES, all using 3 min chart.
Establishing points 1, 2, 3, 4 two lines are drawn. 1 through 3 and 2 through 4. After that a line is drawn through 1 and 4. When price hits upper horizontal line a short is initiated at point 5 and target is at the point when price hits line running through points 1 and 4 (RED ARROW IS A COVER POINT). One does not need to use this for entries, but to determine an exit it is very useful, especially when longer trend is in the opposite direction of the trade.
I think I was just unlucky with my trade, as 3 min BRD has worked perfectly, 10 min one failed.
EDIT: Essentially it is a timed H&S pattern, wolfewave simply calculates entry and exit points, which otherwise are mostly approximate values, based on what the indicators are showing and/or price action.
EDIT 2: Same set-ups were present yesterday in the ES (long) and just now short on ES, all using 3 min chart.
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