The ideas that I trade by:

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MightyOne
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Postby MightyOne » Tue Jul 08, 2014 3:55 pm

A simple BOx trade in the direction of profit:

Step 1:

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Step 2:

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Postby MightyOne » Tue Jul 08, 2014 4:42 pm

Step 3:

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MightyOne
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Postby MightyOne » Tue Jul 08, 2014 5:00 pm

Step 4:

Go back to the HTF and consider your trade and what you might do to make it even better.

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jmag4
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Postby jmag4 » Tue Jul 08, 2014 5:06 pm

So I found a HTx on GBP/USD weekly, let me know if I'm seeing this correctly

Image

fib drawn from 25 pips from the top of the weekly HTx
Image

So I can short anywhere in the fib area? for 0.75%?

edited

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MightyOne
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Postby MightyOne » Tue Jul 08, 2014 5:20 pm

jmag4 wrote:So I found a HTx on GBP/USD weekly, let me know if I'm seeing this correctly

Image

fib drawn from 25 pips from the top of the weekly HTx
Image

So I can short anywhere in the fib area? for 0.75%?

edited


Your risk would be ~(0.75 + 0.5%) because you added 10 pips (0.5% risk) to the 15 pip min. space.

When you fade a strong trend, on a large chart, you want the end result to be a wickdoll pattern.
Your next hope is that bodies show the way down :lol:

Remember: Bodies show the way by closing over 'something' & wicks show the way by not closing over something.

It would be an aggressive trade, but aggressive trades often pay off in several easy doubles.

Image

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forextrading
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Postby forextrading » Tue Jul 08, 2014 5:41 pm

jmag4 wrote:So I found a HTx on GBP/USD weekly, let me know if I'm seeing this correctly

Image

fib drawn from 25 pips from the top of the weekly HTx
Image

So I can short anywhere in the fib area? for 0.75%?

edited


Your graph showing the trend is rising - in my opinion long search :D

forextrading
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Postby forextrading » Tue Jul 08, 2014 5:44 pm

MightyOne wrote:

Your risk would be ~(0.75 + 0.5%) because you added 10 pips (0.5% risk) to the 15 pip min. space.

When you fade a strong trend, on a large chart, you want the end result to be a wickdoll pattern.
Your next hope is that bodies show the way down :lol:

Remember: Bodies show the way by closing over 'something' & wicks show the way by not closing over something.

It would be an aggressive trade, but aggressive trades often pay off in several easy doubles.

Image


Exactly. Risky move, the trend is upward.

jmag4
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Postby jmag4 » Tue Jul 08, 2014 5:45 pm

MightyOne wrote:
jmag4 wrote:So I found a HTx on GBP/USD weekly, let me know if I'm seeing this correctly

Image

fib drawn from 25 pips from the top of the weekly HTx
Image

So I can short anywhere in the fib area? for 0.75%?

edited


Your risk would be ~(0.75 + 0.5%) because you added 10 pips (0.5% risk) to the 15 pip min. space.

When you fade a strong trend, on a large chart, you want the end result to be a wickdoll pattern.
Your next hope is that bodies show the way down :lol:

Remember: Bodies show the way by closing over 'something' & wicks show the way by not closing over something.

It would be an aggressive trade, but aggressive trades often pay off in several easy doubles.

Image


So I should probably wait for some sort of momentum downwards before taking this trade as it is currently too risky.

This was just at a quick glance at charts to see if I could find an example to understand where I place my fibs etc.

So once I get into the trade and it is going my way, I look for another WDx/BOx to add to my position?

forextrading
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Postby forextrading » Tue Jul 08, 2014 5:53 pm

Sandra,

This is a 2 day extreme. As you can see sometimes works as S / R.

http://www.mql5.com/en/charts/2097590/e ... rski-banku

forextrading
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Postby forextrading » Tue Jul 08, 2014 6:15 pm

+ 8 pips today.

Body shows the direction. Play in the direction of the body.

http://www.mql5.com/en/charts/2097657/e ... rski-banku

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