correct! thats why iam working on my SL : )well, someone can say that if the pattern is winning you should not get your SL hit, as this SL level should be never reached by price.
congrats mate, you did much better than me with AUDUSD :-)
thx : )
how is that?you did much better than me with AUDUSD :-)
Sorry for not updating for a long time but i was sitting on couple of nasty trades ;p
Bullish Bat on EURUSD H4 which turned into Butterfly, I was observing it on H1 and at first consider closer X point, later i realise that on H4 i can use other- further X point which bring more sense for this dropdown, anyway I didnt play it very well, I was scared of overall situation because I was also sitting in LONG on EURJPY and EURGBP, plus my bad judgement of situation makes that I set SL in place where i should be opening second trade which would average my exposition, but this trade was not that nasty as next one on EURJPY...
...this one I've also observed on H1, first i saw only a butterfly which emerge in CD leg, but when price didnt stop and fall down more i was like " wtf is going on?" and then saw bigger Bat on H4 -.- another bad judgement.
I am not showing my trades coz I am shamed of them, and that I played so bad :P all you need to know is that i overleverage and have nasty drawdown on this one.
There is possibility that it will be alternate bat 1.13, I am already looking for enter at H1 where you can find nice bullish ABCD, we will see
whats yours thoughts on this two bad boys?
how they say: when you enter a trade you have a reason for the entry, when this reason is not valid anymore you should not stay in the trade.
this is also very good point: "I set SL in place where i should be opening second trade." I think it's common. We lost on the first entry and afraid strong moves against this losing position. And according to Sam Seiden teaching, strong move against us can be good place to enter (in this case 2nd entry).
@drapichrust, you have very good entries i would say, i can see it also on all previous sceenshots you attached, even if pattern fails (at the end it's not important).
I would say that if you work now on defining your TakeProfit targets/rules and money management rules, your equity curve should skyrocket.
For this ABCD pattern what type of confirmations did you use? Anything more than swings geometry?
Thx Kor, as you said I have good entries and I think I have good TP level, but there is still much to do with SL levels and MM which Iam currently working on, already have some raw rules but need to adjust them to my strategy
I've used TMA bands and GannOriginally Posted by kor4x