Postby withnail » Thu Mar 01, 2012 10:06 pm
Pro Trader wrote:withnail wrote:Nice trade Pro. Good to see someone else trading S&D here. If you want to post some trades feel free to post them here. The dollar index alignment is a nice one along with paying attention to when s turns to d and vice versa like you mentioned. I am focusing on just taking quality levels now - quality over quantity. I am also trying to squeeze the most out of a trade. I am setting multiple target based on levels and also daily and weekly average range.
As it was daily low and a good level 4:1 range off it, pair is also strong up trend I targeted the daily range and left a bit running too.
Cheers Withnail
Very nice
Here's what I see from that one
Daily
Entry time frame
Keep posting this is great stuff
Thanks Pro, good to see your take on the trade too. S=>D that you marked up on the daily was one of the things I liked about the trade. The trend line I didn't see. I try to think where others might enter fibs, breakout trendlines etc. If a S/D line up there I like to think it gets a boost when everyone else jumps in after the turn. I learnt recently that planning is one of the most important things about trading, and now I realise it is what MO is showing in his posts too. It has helped me a lot. Today I took 2 trades one GJ an add to the position from yesterday T2 was a previos supply level, a demand zone was created when price broke over it. I added on the pullback to it. And also AU showing some of my planning.
Cheers Withnail.
1. Big loss, 2. Small Loss, 3. Big Win, 4. Small Win --- just prevent 1.