I would like to hear the rest of the story - when you find the guy that got your 80k. . Tom R. - live.

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Hello traders here. Chris Capre. 2ndSkiesForex.com
So, I want to share a live price action trade that I'm in with you right now. This is actually
a trade setup that we have posted in the members commentary, trade setup commentary, in our
price action course on Sunday and it activated on Monday and here we are on Tuesday and it's
well into profit and so...
I want to talk about this trade in terms of trade location, in terms of stop loss placement,
in terms of take profit, trade management and kinda give you the overall price action
context here. Now, just to make sure you know, this is a live trade, you can see this is
an open position right now, this all matches. And also this says real right here. So FXCM,
if it's a demo account, that real will say demo, it will never say real. So you know
this is a trade I'm in with my own money right now, that I only trade with my own money.
And so, with that being said, let's talk about the price action context first.
So, as we can wee, the GBPUSD has been relatively in a corrective structure range. It's about
250-300 pips high, from 1.55 down to 1.52. Now, we had an impressive bull run, an 8 candle
bull run into 1.55. But then what happened with all that bullish momentum? It ran into
the big figure at 1.55, and it kinda triple tapped here. Suggesting that the offers were
willing to hold the line here and kinda mount a challenge and stop this momentum. They were
able to eventually reverse the momentum and show with strength that they could push this
back down. And they did, 250 pips. And you can see this strength kinda coming in in a
typical impulsive, corrective, and impulsive, corrective structure here.
So we had a relatively good idea in terms of trade location at 1.55, and so we said
ok, we literally said on Sunday, look, we are looking to sell, if you're bearish you
wanna be selling at 1.55, and we don't need a tight stop loss on this. We feel that the
corrective structure will hold and because the offers held 1.55 very cleanly which you
can see here with the wicks all around the same height, we don't need a tight stop loss.
If the wicks are much more varied, a short, a long one and a medium one, then that would
show not only volatility but a wider range in the depth of the order book around 1.55.
Therefore we would need a much tighter stop loss. But we didn't have that. We had a very
clean reaction from the offers here at 1.55.
So we said ok,

we're gonna look to sell 1.55 and you don't need a tight stop loss. We actually
placed ours, 34 pips above, which you can see here, stop at 1.5530, and an entry at
.54969. We literally ended up top-ticking the market. As you can see the high was 1.5497.
So by .1 pips we got literally the best entry by .1 pips. That's not common, it doesn't
always happen that we get that perfect entries. I literally missed another trade today by
a pip. That's just gonna happen, that's part of it. Sometimes you're gonna get these little
gems that hit perfectly. But when you find good trade locations, you should have relatively
good entries, near where the market stalls and turns.
So, because of that, because of this reaction here, we can have a tight stop loss, you shouldn't
need a large stop loss if you can find good trade locations. Now, in terms of our target,
the offers that held here at 1.55, they pushed it all the way down to 1.5250 before some
impressive bullish momentum came back in the market. And the change of hands happened here.
So we're expecting the bears to try and target this. If they're gonna show that they have
equal strength in the market, then they're gonna want at least tag this and say ok we're
gonna push you back to where you started. So that's our target.
We do see an interesting role-reversal level here on 1.5375, so you can see this is an
interesting role reversal level. The market might get stuck here, and if it does, we may
take some profit and neutralize all the risk at that point. But if we get below this here,
then I see relatively clear or smooth sailing down to .5250. So that would be a 250-pip
profit on a 34 pip stop. So we're talking about a +8R.
Briefly I wanna talk about the entry in terms of how we placed the entry and time and everything
like that. And then we'll wrap this up.
To make sure we didn't place any confirmation price action signal. We don' wait for confirmation
price action signals. Those lower your accuracy, they lower your profitability and they give
you worse locations. There was no pin bar on the 4hr chart, there was no pin bar on
the 1hr chart, or anything like that. And on the daily chart there was an interesting
one here but assuming you got the 50% you know, retrace tweak entry, you're not getting
in till here so you're missing this.
Now let's be generous. Let's say you absolutely top-ticked the daily candle today and you
got an entry. Where's your entry? The high is .5445. Your stop has to be above .55 now.

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