CatFx50 - page 670
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Hi, Skyline!
Right, but what this indicator is telling you is, according to its daily range and in order to get a 3:1 r/r, you can not use a stop of more than 13 pips.
But then, you should look at your chart, see its price action and place a logic stop.
So, you could say now: OK, if a "logic" stop is at 44 pips from entry and that daily range indicator is telling me one of 13, should I sell?
Maybe EURUSD goes down as a rock, I do not know, but according to my MM, I'm not going to sell. I'll wait for a better entry.
NinaThx for quick answer Nina
I'm sorry to bother you, i'm only trying to understand your trading method but I still don't understand why a logic stop should be set at 44, may be do you pick as sl actual high or some other resistance level? (for me with fxdd eurusd high is at 2712 and resistance1 is at 2703)
Thx for quick answer Nina
Well, you have it then. Add the spread +2. That's what I do, but you can add more or less. It's up to you. Or you can say, stop at bid.
Nina
Hi!
We have our beloved pairs at Pivot.
We'll see.
Nina
Hi!
EOD recap:
The signal more clear for me and with nice r/r:
GBPUSD, level 4 buy (13:00cet) @ 1,8920 with stop loss at 1,8898. It has made a high at 1,9003. + 83 pips. 4:1.
Nina
is an example of false signal.....
is an example of false signal.....
Hi!
No, it was a validated signal. The problem was the stop loss. Where would you have placed it?
At 09:30cet, no way. Stop too huge. Posted.
At 10:30cet you had a validated entry @ 1,2675 with stop at 1,2688. A 13 pips stop. We had pivot at 1,2664, that is 11 pips down from entry. The trend was up and it had gone down 38 pips before our entry. Too risky for my pocket. No way.
Nina
H!
GM, mates!
Thought you'd like this.
Nina
nice flat market so far... (yawn)
nice flat market so far... (yawn)
Hi!
Right. I do not know where we are heading. It could be a very awful day or it could not. But looking at price action, it does not invite to trade. So, we ought to take care.
We'll see.
Nina
and now???????