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[Marko23]

No trigger from the modified setup!

The original Thales setup did trigger for +4.4R .

[thalestrader]

Originally Posted by Marko23 during this week I'll experiment with a modified setup. I want to start after the breakout bar is finished....

Hi Marko,

I want to make sure I understand what you are doing with the modified entry. You are waiting for the trade to trigger as usual, and then you are entering on a limit order placed at he 50% retracement of that particular bar, +1 tick, and by one tick, you mean on the breakout side of the breakout bar?

Best Wishes,

Thales

[Marko23]

Originally Posted by thalestrader Hi Marko, I want to make sure I understand what you are doing with the modified entry. You are waiting for the trade to trigger as usual, and then you are entering on a limit order placed at he 50% retracement of that particular bar, +1 tick, and by one tick, you mean on the breakout side of the breakout bar? Best Wishes, Thales

I want to start after a pullback of 50% of the breakout bar and place the stop 1 tick below the low of the breakout bar for a Long.

The last example with EUR/USD shows how perfectly that approach can fail!

[mblack246]

Short GU following failure to break higher (LH/double top).

[thalestrader]

Originally Posted by Marko23 I want to start after a pullback of 50% of the breakout bar and place the stop 1 tick below the low of the breakout bar for a Long. The last example with EUR/USD shows how perfectly that approach can fail!

Hi Marko,

I still do not think I am following you, and I apologize for being thick-headed this morning.

Here is my chart showing that my entry on that long would have been 1.3711. Where would you have placed your entry order?



Best Wishes,

Thales

[thalestrader]

Current look at the 6E/EURUSD ...



I was expecting one more attempt at a high/higher high, but it is what it is. We could still get a higher high, but that's what the stop loss is there for to protect us.

Best Wishes,

Thales

[Marko23]

Originally Posted by thalestrader Hi Marko, I still do not think I am following you, and I apologize for being thick-headed this morning. Here is my chart showing that my entry on that long would have been 1.3711. Where would you have placed your entry order? Best Wishes, Thales

The breakout bar is 1.3700 ... 1.3713. The limit order was at 1.3707 after the breakout bar completed. The order was not filled, there was no pullback.

1.3707 = 1.3700 + 50%(1.3713 - 1.3700)

The stop was at 1.3699 = 1.3700 - 0.0001

[Cory2679]

Potential EUR/JPY long IF we can break that high...?

[thalestrader]

Originally Posted by Cory2679 Potential EUR/JPY long IF we can break that high...?

Did you see the short? An opportunity very much similar to the EURUSD posted above.

Best Wishes,

Thales

[Cory2679]

Originally Posted by thalestrader Did you see the short? An opportunity very much similar to the EURUSD posted above.

Nope...too focused on the potential long...