How do you determine exit points on new breakouts with no prior resistance or price points?

maximumpossiblesuffering said:
You just pissed yourself intellectually, Mr. 33 poster and you don't even know it yet. There is a reason why Xela has more likes than posts. Hint: It's not because she is a girl. I will let you brainstorm a while before I give you the answer.
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For English Literature and Prose? Yes. Show me the trades, Chief. That's the only thing that counts, man or woman don't matter. And you hit the nail - all the posters with the top ranking LIKES, post your real time trades NOW, please.

Real time trades talk, all else walks and is hocus-pocus

Much appreciated. ;)
 
oversight:

from observations over last 3-4 days it seems 1-min and 5-min timeframes are very much IN in this socializing zone, so adding that ALL TIMEFRAMES WORK exactly the same in NO MAN's LAND.
 
Sometimes, IMO macro events happen that change the present view that price has been correctly discounted. This could be any asset. Sometimes this does not sync or line up with tested TA entry criteria. Should you pass on the trade because the technical entry criteria is not met?
One method is to view this event as T0(zero) and define a volatility, noise, band etc that can be expected and tolerated to remain in the trade , ignoring what came before.......other ideas?
I guess a Netflix type earning report , central bank forward plan revision, distress event or a number other things could qualify Can a previous TA swing low or anything prior weigh heavily?
New information has invalidated previois price discounting.
 
eurusdzn said:
Sometimes, IMO macro events happen that change the present view that price has been correctly discounted. This could be any asset. Sometimes this does not sync or line up with tested TA entry criteria. Should you pass on the trade because the technical entry criteria is not met?
One method is to view this event as T0(zero) and define a volatility, noise, band etc that can be expected and tolerated to remain in the trade , ignoring what came before.......other ideas?
I guess a Netflix type earning report , central bank forward plan revision, distress event or a number other things could qualify Can a previous TA swing low or anything prior weigh heavily?
New information has invalidated previois price discounting.
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Of course. The market is a continuum, constantly adjusting to new information. Unanticipated events can upset the apple cart so to speak, and smart retail traders with their ability to quickly enter and exit positions can have the advantage in these situations.

In the absence of new significant news, technical analysis can provide a good clue to underlying supply and demand. Indeed, one may detect the movements of those with superior knowledge and capital and "ride their coat-tails".
 
maximumpossiblesuffering said:
Of course. The market is a continuum, constantly adjusting to new information. Unanticipated events can upset the apple cart so to speak, and smart retail traders with their ability to quickly enter and exit positions can have the advantage in these situations.

In the absence of new significant news, technical analysis can provide a good clue to underlying supply and demand. Indeed, one may detect the movements of those with superior knowledge and capital and "ride their coat-tails".
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I should say that nothing here is my idea or original thinking. Crabal or any opening range event(a trading day or macro event) has been around forever. In fact the ACD thread frequently mentioned event rather than time based OR's. i guess how you factor what came before... is another art/science.
Seems though , that discretion, assigning weight /importance to an event and how ithenasset and other key assets react and follow through , is the realm of professionals with experience.
 
Bugsy said:
Is there a rule of thumb any have here when it comes to pre-planning your exit strategy in no mans land? Thanks in advance :thumbsup:
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If we're talking about a reversal in one bar, like a V-bottom, rotating from downtrend to uptrend, I don't ever take these trades. If the V was a higher low in an uptrend after the initial reversal, I would take it and in that case my entry would be just above the high of the new swing low, my stop about 0.5-1.0 ATR below its low. I like to give price a bit if leeway sol I'm not stopped out by a tiny breach of the low but this only makes sense because my position size is a constant whether we're talking 20 pips or 200 pips. So a 200 pip entry to stop distance makes the stop less likely to be hit and costs me no more, though it obviously reduces return per pip.
 
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