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Reply With Quoterisk: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
There is some serious Bearish movement on the EUR/GBP.Originally Posted by ziemo
Sitting in a short trade on USDJPY. Will post the result and screenshot this evening.
Is anybody still watching EURGBP?
I am also in the USD/JPY Bearish. There has been some good resistance at that level so fingers crosses.
Kicked out by news on USDJPY, waiting for possible re-entry, opened short on CADJPY.
You must have pulled your stop pretty close on the USD/JPY to have been stopped out. I'm still in but I generally do the same when big news events are around. Better to protect your equity than lose it in a quick few seconds of volatility.
you cannot have a great r:r ratio, if your stop is big as hell
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.
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