[TrueBalance]

Thales,

In this context for EJ - would you consider a bracket prudent?

Long term trend (4h) is up, and there is less R above the bracket as I see it.
Even longer term trend is down though, but there is more R in that direction so the targets are smaller.

[Gabe2004]

Originally Posted by Gabe2004 »

Haven't notice but it looks like my entry would have been hit and if so this trade would be a loser because the STP was hit also.
The chart that you see is called a Min/Max chart and it shows the levels where actual trades were executed.
Candle charts show the mid point between the bid and the ask.
Atleast on the oanda platform.
Nevertheless, I would restart the potential trade setup.

Gabe

The same level triggered again so if this would be real, I would be in a trade.
If STP would be hit, O would not take another trade until we clear this area.

Gabe

STP hit.

[Kiwi]

Originally Posted by TrueBalance »

Thales,

In this context for EJ - would you consider a bracket prudent?

Long term trend (4h) is up, and there is less R above the bracket as I see it.
Even longer term trend is down though, but there is more R in that direction so the targets are smaller.

Is long term trend up? Or is it the end of a daily pullback? I don't actually know either I just point out that my charts have variable views so maybe the risks are worth a shot.

If I had to bet I'd guess down was the higher probability though given the ma.

.

[thalestrader]

Originally Posted by TrueBalance »

In this context for EJ - would you consider a bracket prudent?

Here is how I would do it, but I may be wrong and miss an opportunity because of it: At this time of day I wouldn't have any orders in, especially not on the Yen pairs, and not on that range. I would rather wait for price to start swinging a bit closer to 7 PM est. Also, I'd be more interested in what happens below 130.56 and above 131.27 than the range you are marking off. Periods of range contraction (low volatiilty) lead to periods of range expansion, and there should be plenty of profit left to be made even if you wait for price to tip its hat in the direction it wants to go.

Best Wishes,

Thales

[thalestrader]

Originally Posted by thalestrader »

USDCAD is at a point, as seen here on the four hour chart, where an opportunity may present itself one way or the other.

Hi Folks,

Went long two seperate positions on the USDCAD. Treated one as a daytrade and closed it for +25. The other has a break even stop, and we will trail our stop if price does rally rather than merely bounce at this support zone.

Best Wishes,

Thales

[thalestrader]

Here is the daily tick count: +69.6

Not bad work if you can get it.

Best Wishes,

Thales

[brownsfan019]

Originally Posted by thalestrader »

Hi Folks,

Went long two seperate positions on the USDCAD. Treated one as a daytrade and closed it for +25. The other has a break even stop, and we will trail our stop if price does rally rather than merely bounce at this support zone.

Best Wishes,

Thales

Thales - this one really sticks out to me as an easier trade due to the strong support identified on the longer timeframe chart. Again, just an outsider chiming in but if these type of setups occur enough I wonder if that could help those struggling to zero in on a particular setup vs. every one that shows up on the 15 min charts.

And even if they are only a few per week, just load the boat.

Also - due to the strong support on the 4H chart, I wonder if this will get some serious steam behind it where you can use the 15M to time the entry and now use the 4H to manage the exits. Just some more rambling and observations.

[Don4]

Ok, Im back!! So in essance, you say that I cant trade from a 5min chart. So I will switch to a 15m. And I truly dont want to give the wrong impression. But this is what I see.




Thanks
Don