Thread: Interactive Trading Setups Disscussion

Originally Posted by kor4x

I had pretty good entry (see the screenshot), but my exits are far from optimal. Here I was a bit lucky.

There is a old telling - "Doesn't matter how you begin, it matters how you end up"

I got similiar problem. My system has a good entry as well but the exit is not the best I would like to have.

in my case the problem is with: 1. not having exact rules for exits 2. psyche impacts exits more than entries
... but it would be so boring if i would be an expert in everything ;-)

maybe others can share how they handle the exits for harmonic trades!

Pivots or swings to place stops. TP at the next reasonable resistance/support or supply/demand zone.

markets move in the path of least resistance.

I do agree ... Pivots are very powerfull

I use the middle line of the TMA Bands for my first exit but most of the time it goes much further and I kick myself for not staying in longer.
Eg today I had as 12 pip stop and exited the Euro at around the 30 pip mark. It then broke through like it had many times before and went for another 40+ pips. In short I use the middle band on the TMA bands 1 hour as my first target.
Take a look how often it hits.

Elliott Wave perspective on EURUSD ->
Visit the author's blog (Magictrader | Daniel Kostecki blog): Magictrader | Blog by Daniel Kostecki | Blog

[14:32:39] gerard_palma: EJ might be interesting around here : 09.06.2012-13.35.04 - drlobo's library
[14:45:14] gerard_palma: I think I might have made nice entry for EU : 09.06.2012-13.47.30 - drlobo's library

EURJPY H4 butterfly bearish -> and 121 bearish pattern
time to check at the lower TFs and look for an low risk entry, hm?
I think not really yet, but soon, maybe closer to this Monthly pivot level.