Ok. Here is one example of what i was writing about, being my approach.
I like the USDJPY pair and it has been moving extremely fluent for the past couple of weeks. This position has drawn me further into the pair. I am not sure if it will still move like this is a month from now, but right now, i favor it.
Ok. This trade is about a week or so old. Got it from my diary and i am now posting it.
The 4 hour chart is in a downtrend for me, displaying lower lows and lower highs with no other clear pattern that could warn me of something else other than bears all over the place.
The 1 hour chart shows a VEERY nice double top there. When i took the trade the double top was not completed. I usually anticipate the resolve of 1hour chart patterns by using 15 and 3 minute charts.
Now, i usually enter the first chunk of my position when there is a break of a trendline on the 15minute. I like to send some ca$h in to see if it works. If it work i add. Here, although i would have had to enter at the trendline break, i chose to work this position out directly on the 3 minute as i saw increased market movement and i felt this was not going to give me any room for maneuver.
And here is the 3 minute chart where i actually played stuff out.
Entered my first part of the position when i had a lower swing low (closing basis) and i waited to add on a retracement. Unfortunately this one did not retrace ( i was right on my assumption) and i could not add to it, but i was happy to exit at 1:3 of my initial risk which is usually what i aim for.
NOW, PLEASE if you are going to post on this thread take this post as an example and share your approaches. YOU ARE NOT GIVING AWAY ANY EDGE Because most likely you will not have anyone to give it to.
I like the USDJPY pair and it has been moving extremely fluent for the past couple of weeks. This position has drawn me further into the pair. I am not sure if it will still move like this is a month from now, but right now, i favor it.
Ok. This trade is about a week or so old. Got it from my diary and i am now posting it.
The 4 hour chart is in a downtrend for me, displaying lower lows and lower highs with no other clear pattern that could warn me of something else other than bears all over the place.
The 1 hour chart shows a VEERY nice double top there. When i took the trade the double top was not completed. I usually anticipate the resolve of 1hour chart patterns by using 15 and 3 minute charts.
Now, i usually enter the first chunk of my position when there is a break of a trendline on the 15minute. I like to send some ca$h in to see if it works. If it work i add. Here, although i would have had to enter at the trendline break, i chose to work this position out directly on the 3 minute as i saw increased market movement and i felt this was not going to give me any room for maneuver.
And here is the 3 minute chart where i actually played stuff out.
Entered my first part of the position when i had a lower swing low (closing basis) and i waited to add on a retracement. Unfortunately this one did not retrace ( i was right on my assumption) and i could not add to it, but i was happy to exit at 1:3 of my initial risk which is usually what i aim for.
NOW, PLEASE if you are going to post on this thread take this post as an example and share your approaches. YOU ARE NOT GIVING AWAY ANY EDGE Because most likely you will not have anyone to give it to.
