You are viewing a single comment's thread from:

RE: Forex Trading Journal, June 1st 2017

in #forex7 years ago (edited)

Yep. I think thats a good way to go about it too. I had a period there where I traded the exact same way as you do! I found this worked well if you could scan through charts, looking for trends. And pinbars are such as obvious trade signal that they generally create a reaction just based off their presence alone...if that makes sense.

THIS, however, is the exact trade I look for. It is a trade where buyers come in early at the first breakout, set their stops at an obvious spot, the market moves to these orders like a magnet, creating a great price to get in.....AND what is essentially the trade you like to take as well (false breakout of inside candles)...which is a rejection of a strong level. In this case, replace the word "strong" with "significant", and you have the same trade setup you normally take. Except the context is different; trend vs range.

I personally feel the range trades have more potential though. A lot of orders build up outside the range during congestion, and makes for a fairly predictable movement!

And you catch massive long-term trades by getting in on a shorter-time frame! I generally enter on the 15min, using the 4hour and daily charts for setups.

Coin Marketplace

STEEM 0.17
TRX 0.15
JST 0.028
BTC 60274.16
ETH 2339.61
USDT 1.00
SBD 2.55