This example, a Nzd/Jpy long. What is the best level to take profit?
Is there a way to tell?
http://i49.tinypic.com/jh8ubs.jpg
Is there a way to tell?
http://i49.tinypic.com/jh8ubs.jpg
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DislikedMost of the time, market movement is effectively random - there is approximately 50% chance price will move up and a 50% chance it will move down. If you entered long, you obviously felt there was a bias to the upside - therefore you should exit when, or before, that bias is gone and the market reverts to randomness.Ignored
DislikedThis example, a Nzd/Jpy long. What is the best level to take profit? Is there a way to tell? http://i49.tinypic.com/jh8ubs.jpgIgnored
Dislikedhmm long term resistance on nzd/jpy?? Here's a riddle for you - why would that resistance still be relevant if the value of either nzd or jpy has changed relative to usd since those swing highs were formed?Ignored
Dislikedis this baffling with bullshit or dazzling with brilliance? or a bit of both? Got to draw a line in the sand somewhere, same as everyone else...Ignored
DislikedOf course price could go anywhere long term. I just stated where I would take profit or tighten my stop because there is a decent possibility that that level will turn price at least in the short term.Ignored
DislikedI think I was saying the same as you Seneca? I'm the same, mark the line where it might turn, then look for more information on the lower timeframesIgnored
Dislikedhmm long term resistance on nzd/jpy?? Here's a riddle for you - why would that resistance still be relevant if the value of either nzd or jpy has changed relative to usd since those swing highs were formed?Ignored
DislikedThe main question is a riddle I would say, has the value of Nzd --> Jpy changed relative to each other.(instead of relative to USD.)Ignored
DislikedWhat if one of their banks said they're going to rapidly increase money printing for like the next 2 years. Would a previous point of S/R even hold?Ignored