Mike, By not taking an entry at the break of the low of the beob, don't you think that you are running into the risk that price might simply consolidate after your retrace entry. How are you able to make a decision that in this case price will not ...

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Are you saying that the fake out closed at 103.8 which is only slightly above the WLLS (103.65) and hence a retest is preferable to confirm the fakeout?

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COFFEE UPDATE

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COFFEE FAKEOUT Neytiri

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Mike, Can you please direct me to few posts where you have given an explanation of the wick play. Thanks, Neytiri

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Thanks Neytiri

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cma weekly fakeout with divergence

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To me your post was almost clear. I think it is sometimes packed with so much information that some beginners including myself find it difficult to understand in the first read. The only statement that I was finding it difficult to understand was " ...

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That is a good idea too. N

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USDTRY 4 HR BREAKOUT Neytiri

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Thanks.

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Hey Winston, I understand why you took the trade (major ppz, swing high, huge beob and close below brn 97). But price could have simply bounced off the trendline, right? Then why did you take the trade? Neytiri

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Hey Ghous, So the right way to play the USDHRK trade is by placing a buy lmt order at brn 5.6 or wait for bullish price action signals trading away from the brn5.6, correct? Neytiri

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Hey Ghous, I closed the order immediately when you brought to my attention that the IPB had not closed below the bar low on the daily charts. Amazing, soon afterwards there is a perfect example of the squeeze play that you referred to. Price closes ...

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Thanks.

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Holy Cow! FTA hit in 2 hours .. traded 1 lot, $500 profit in 2 hours!. Oh man, I wish I had a $100,000 account.

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Hey Ghous, I am trading cotton as a continuation setup. i.e. I waited for price to close below the LLS on the weekly. After that there is a failed attempt to rally. If the IPB would have closed below the low of the previous bar, it would have been a ...

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Hmmm. The inverted pinbar is an inside bar and did not close below the low of the previous bar, correct? Neytiri

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In this scenario, I will wait for price to close below brn 1.8 and check whether there are any price action signals on lower time frames. If there is a nice bearish pinbar with confluence then I will enter short and take partial profit at the fta. ...

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Hey Ghous, I will not enter on break of high of the buob. The fta is too close to the point of entry and it is possible that price might hit the fta and go south. Instead, I would wait for price to retrace to the brn 5.6. I will check whether there ...

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