Hi Baba G
This is fun....a chart paints a picture..Nicole
This is fun....a chart paints a picture..Nicole
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Strat's PASR Long Term, Stress Free Trading 18,091 replies
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DislikedThis is kinda confusing
I'm guessing you entered at the low of the bar
Since you said you plan you exits ahead of time and you exited only after an hour then you target mus have only been about 40 pips or just above 80.00
this seems like a small target to take on the daily I must be missing something obvious hereIgnored
DislikedThere is nothing confusing about it Naws. Lance was completely spot on with Baba entering on a break of that IB4. He entered off the high of the candle, with his stop below the low of it. When price closed up above the next S/R, he moved his stop below Thursday's bar low, taking all risk off the table with gains to be taken. When the Pin Bar reared it's ugly face Baba entered on the close of the candle, securing his profits. He is now in a short off the low of the PB.Ignored
DislikedDid you just enter short off the bottom with a TP at the next lower support? (Previous swing high) Price went down and hit the level, you got your profits, trade executed all according to plan in one hour? A pure 50 pip profit or so.Ignored
DislikedJust to show the difference on candles with different data feeds, here is my cadjpy - notice Baba G's ""nice pin" is nothing like a shooting star on my data and instead is a nice bullish continuation bar.
This is why it is so important to ONLY TRADE WHAT YOU SEE ON YOUR CHARTS and not what someone else says to trade because of what they see on their charts.Ignored
DislikedJust to show the difference on candles with different data feeds, here is my cadjpy - notice Baba G's ""nice pin" is nothing like a shooting star on my data and instead is a nice bullish continuation bar.
This is why it is so important to ONLY TRADE WHAT YOU SEE ON YOUR CHARTS and not what someone else says to trade because of what they see on their charts.Ignored
Disliked
I know there are just as many arguments against Sunday bars as there are for them, BUT, for me they are invaluable so save your arguments as they will fall on my DEAF ears and BLIND eyes!
Out of respect for our professional traders, I thought I would keep in line and ignore these Sunday bars. My first and last time at doing this!
Back to Sunday bars for me!Ignored
DislikedHad I taken the Sunday bar into consideration (as I normally do), I would have placed a sell stop below the Sunday bar and would have been 130 pips or so in profit at Monday's close.
Now, because I didn't take the Sunday bar, I am left with a huge BEOB of 256 pips meaning, to take this trade I need a SL of 260 pips or so to take a trade down to major support at 1.3180 - or in other words, a risk of 260 pips for a 130 pips profit - not for me.
Again, had I taken my Sunday bar, I would now be up 230 pips as of where price is at now.
[b]Back to...Ignored
DislikedJust wondering what reason would you have to place a short trade after the sunday bar other than it being at resistance, in terms of PA I don't recognize a bearish candle to indicate a shortIgnored
DislikedMark Maber in his book 'Marber on Markets' says there are so many different people playing different rules for gaps that he ignores them and sees them as windows - all windows must be closed at some stage. I've found its often more profitable to expect a window to close, so in the case of Strat's chart I'm not surprised.
Sunday orders are also a reflection of those who get their 'tips' from the Weekend papers - so the masses are often wrong. I'd like to see some backtesting done; I'll look at some Sun bars as far back as my data allows and see...Ignored
DislikedUS Crude looks set to close below $50 today which is quite bearish.
If the the equity rally tops out here then then this will take crude back down with it.
Although crude poked its head above the Boss 20 it did not get any support from it and we now have a lower high on the daily.
A pullback to $45 would be a 50% retracement to the lows and is also a major SR level and the daily 50sma.
NicolaIgnored