REVERSE - IMPULSE System - page 25
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Question about exit on impulse
@fxsuccessor:
Speaking of those impulse signals, do you have any insights about those three questions:
1 - Is it true that, if the price sustained the impulse indication enough time ( I mean the price didn't exploded just after impulse signal, but also it didn't retraced too much in order to - let's say - invalidate the long candle which generated the impulse signal ), the impulse has yet some good energy which isn't consumed yet, and will be delivered in time, in the future ?
2 - Do you have any insights about how to quickly exit from an impulse trade ( I mean if the price reverse and go against the signal ) ?
3 - Any insights about how to better recognize and use the energy of the impulse ( in better words - a late exit not a scalping one ) ?
Thanks a lot, my friend!
aussie is still the best signal,im still holding it now. up by 70 pips.
@fxsuccessor:
Speaking of those impulse signals, do you have any insights about those three questions:
1 - Is it true that, if the price sustained the impulse indication enough time ( I mean the price didn't exploded just after impulse signal, but also it didn't retraced too much in order to - let's say - invalidate the long candle which generated the impulse signal ), the impulse has yet some good energy which isn't consumed yet, and will be delivered in time, in the future ?
2 - Do you have any insights about how to quickly exit from an impulse trade ( I mean if the price reverse and go against the signal ) ?
3 - Any insights about how to better recognize and use the energy of the impulse ( in better words - a late exit not a scalping one ) ?
Thanks a lot, my friend!No problem friend,
in general, the ending of impulse wave cant be determined, because it can go as high/as low as it wants. It will only end on an important support/resistsnce. And to have better understanding when will it end, one has to be able to count waves...
ANSWER#1:
Will it be delivered in the future? the answer is it depends on the wave count.
if the impulse signal happened on the 5th wave of the 5th wave = expect the impulse to end
if the impulse happened between the 3rd wave = expect lots of profits.
On indicator:
if an IMPULSE signal appeared, then the candle closed and the impulse signal remains, generally, the impulse should still continue. the best practice on this is to always wait for retracement (23 to 38%) .. any bigger than that could mean that the impulse is OVER..
retracements will save you a lot of times bacause it will give us better market position.
when an impulse signal happens, it doesnt necessarily mean that you jump into the market, you can if you know the wave count. The impulse signal also warns us to negate all the reversal signals for a moment. Even though the impulse signal repainted and is gone., the market could still have some more underlying strength. So we need to wait.
ANSWER#2:
If incase you have entred on an impulse without a retracement, then there is a chance that the move will retrace immidiately, so that can potentially hit our SL.
If the direction goes in our favor, the best way is to
1. Move stop to be.
2. Closely monitor our chart and immideiately close our order in sign of weakness regardless of how small the profit is: ie, price rejection at a level, round number, confluence of ratio, formation of patterns like ending diagonals, pinbars, hammers..
we dont need to feel that we have missed the trade bacause it will then eventually retrace.
on my style, if i enter on impulse without retracement, i strictly make my SL to 20-30pips(depending on currency im trading, ie eur/usd=20, eur/jpy=30) and my tp to 30-40pips.. i will be contented if i hit tp because i dont expect too much on a move that didnt retrace.. ofcourse, sometimes i close earlier, when i see weakness.
ANSWER#3
The best way to do this is to be able to count waves use PA and only close position on the B wave after the 5th wave. if your good enough, close it on top of the 5th wave, but this is hard to predict.
If you cant count waves, you can trail you stop to maximize it.
You can also mark the location where the impuse signal happened, go to H1 timeframe, and look for divergence. close position when divergence happened on H1. but this doesnt happen all the time. But techically, when trading intraday, H1 could be the best TF to confirm divergence between 3rd & 5th waves. so a most of the time, weakness on an impulse wave will show on divergence on H1 TF.
Hope this helps
aussie is still the best signal,im still holding it now. up by 70 pips.
that was a nice catch
@seckit
glad you found the system to be profitable
aussie is still the best signal,im still holding it now. up by 70 pips.
waw nice catch...using pro version?
waw nice catch...using pro version?
thanks
yes i use pro
Hope this helps
Thaks a lot, you bet it helps!
I will start to refine my EW knowledge!
Good wishes!
Thank you fxsuccessor for sharing,really nice system,does Pro version have a email or Push notification alert?
30 mins to Draghi!!!! this could give impulse???