prochargedmopar wrote: Shadik wrote: es/pip wrote: Shadik wrote:
es/pip wrote:everyone does this a little different, but for me i would have just passed on that setup( i was watching it as well) had the next bar after the momo bar come back into the MZ i would have looked to play it, but like you showed it did not----- so i passed.
had the next bar after the momo bar been a slight down bar but not came into a zl i may have taken the break above the momo bar---- but i didnt like that bar with the way it formed that wick so far up
i am always watching the higher time frames as a reference of where we are
Thanks Es. Now I see that I thinking good and I slowly "see it"
When i look at 4tf gbp/usd now i see that i shoud enter on ~1.6460 - am i right ?
not sure what you mean when you say this----When i look at 4tf gbp/usd now i see that i shoud enter on ~1.6460 - am i right ?
post a chart of what you are looking at
ok, please check it out:
EDIT: MightyOne answered my questions above..........
I thought that this was a support/resistance trade being your not entering on the adjoining bar?
And Support is a h*ll of a long ways away.
Well, unless you consider that previous resistance becomes support and you are betting on a much larger continuation of the breakout..........
Seems risky to me, but what do I know.
EDIT____________ i just saw that u had an edit and q answered---
i agree somewhat with what u r saying
it was played on consecutive bars
if u look to the left there is a zline of held profit u have a momo bar and then the next bar zeros out the traders to the left------ i see held profit there.
is it riskier than picking it off the bottom on the momo like MO was saying--- yes. like he was saying, u run the risk of all the traders that bought the move up below your entry being zl'ed and stopping u out. But it is still a valid ZL_MZ trade
that's how i see it anyway