Heads up. So far a pretty nice setup. This is a 60 min chart. May want to dial down for an entry. Don't forget the fib levels. I didn't put them on here so you can see where the pivots are.
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Just my $.02
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6 comments:
I triggered at the .618 level and currently trading at the .618. If it does turn down I will look to take some profit at .50 for approximately 35pips and move my stop to just below break even. My Next target will be .382 then .236 which lines up with the primary weekly pivot. Currently my stop is just above .707.
Nice call Maynard. I had my entry at 1.2922 which is the .786 level. What made you think to enter at the .618 level and not .786 fib level? I should have skyped u and got your thoughts. As much as we bug you, one of these days you're going to delete us from your contacts :) We sure appreciate your help though. by the way, thanks for the fish, it was great.
.618 was a symmetrical AB=CD so in my mind it was the logical level to enter (and sometimes i get lucky, the law of averages you know). It'll be interesting to see if it will continue down to the primary pivot.
You guys can bug me anytime, it's no bother. I'd never delete you from my contacts, not yet anyway ;)
It looks like I should have left my stops alone. Three of my four orders got stopped out and my fourth got missed by one pip (it was my smallest size so I had left it just above .707). So my smallest size is still in this trade. Moving my last stop to just below 1.2800. This should have been a better trade for me but I got impatient and moved my stops way too early ahead of the European open.
It looks like you're still in this one. That's gotta be more than 200 pips, WOW. Or did you close this trade for the weekend? I got in late and picked up 42 pips then closed the order for the weekend.
I actually got stopped out of this trade just above a weekly primary pivot at 1.2747. This didn't turn out to be too good of a trade for me (but not really bad). First I got impatient when i moved my stops so soon. Although hindsight is 20/20 i still should have left them alone until the price reached the primary pivot like i thought it would then move the stops to my first target. This would have left me in the trade until the weekend which i most likely would have stayed in since it would have left me in profit by more than 200 pips. BUT...its easy to look back and say would'a, could'a, should'a....know what i mean. What matters to me is that we took a profit , evaluated the trade and learned something then moved on to the next trade opportunity. Remember, we can't dwell on the past just learn from it and move on.
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