risk:reward ratio was excellent, this was a reason good enough to take this trade![]()
That is understandable as the ABCD pattern inside the Bat pattern was past the extended 161.8 and the price action was very bullish as was the 4 hour trend.
risk:reward ratio was excellent, this was a reason good enough to take this trade![]()
Very true. I was looking for a smaller pattern at point D but other than a standard abcd pattern there wasn't anything.
Sitting in a short trade on USDJPY. Will post the result and screenshot this evening.
Is anybody still watching EURGBP?How this trade is developing is just amazing
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Kicked out by news on USDJPY, waiting for possible re-entry, opened short on CADJPY.
you cannot have a great r:r ratio, if your stop is big as hellsmall loss, I really don't care about that.
This is one of the biggest advantages on trading with good r:r, you really don't give a f*** about losing trades![]()
I would be very interested to see your method of choosing where to place your stop :-)
It's not that easy to explain my friend. Basically, I observe how the price behave near my entry point. I watch the dynamics, zigzags, breaks of resistance/support. Then I wait for a little drop-down, and set my SL on the current peak.
I will post soon a couple of my entries with the SL attached.