Quite right. Be able to read price action would definitely give you more rewarding trades.
Lis
2009.07.02 BACK TO BASICS - K.I.S.S.
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- marypipins
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Hi Tro...
I'm sure you know of the Open Range therory, whereby when a market first opens it can set the perimeters in the first hour or so for the rest of the day. I have followed this in other forums and its very simple and seems to be very successful. Have you coded anything that would mask off that time frame with the highs and lows and then help with the breakout? As always let me also just say thanks for all your help and your generosity. Lisa
I'm sure you know of the Open Range therory, whereby when a market first opens it can set the perimeters in the first hour or so for the rest of the day. I have followed this in other forums and its very simple and seems to be very successful. Have you coded anything that would mask off that time frame with the highs and lows and then help with the breakout? As always let me also just say thanks for all your help and your generosity. Lisa
- TheRumpledOne
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Hello,
In my limited experience with this system i'll give you my opinion.
Provided that you entered in the first cross of the 133.25 level, I'd say that you could close the trade with a maximum profit of 5 to 8 pips in the lower wick of the candle.
If you didn't, you certainly should close when price went against you to avoid a winner become a loser.
This is scalping.
Cheers
Francisco
In my limited experience with this system i'll give you my opinion.
Provided that you entered in the first cross of the 133.25 level, I'd say that you could close the trade with a maximum profit of 5 to 8 pips in the lower wick of the candle.
If you didn't, you certainly should close when price went against you to avoid a winner become a loser.
This is scalping.
Cheers
Francisco
- monolisa
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Hi lukx,
The candle with the semafor 3 showed reversal with strength (long lower wick and a, despite a bit small, green body). The next bear candle didn't show much strength either. Long would be a high probability trade.
Also what's your SL?
Lis
The candle with the semafor 3 showed reversal with strength (long lower wick and a, despite a bit small, green body). The next bear candle didn't show much strength either. Long would be a high probability trade.
Also what's your SL?
Lis
"Know your enemy and know yourself, find naught in fear for 100 battles. Know yourself but not your enemy, find level of loss and victory. Know neither your enemy or yourself, wallow in defeat every time." - Sun Tzu
- TheRumpledOne
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