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Currency Futures

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  #1044 (permalink)

Bala, PA, USA
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus, IB
Favorite Futures: SPY, Oil, Euro
monpere's Avatar
Posts: 1,858 since Jul 2010
Thanks: 300 given, 3,321 received

trendisyourfriend View Post
Question for you, what made you think the candle where you entered was the one that would mark the end of the down move ? the candle closed in the middle of its range, not a strong close in my book and just at equality with the lows of 3 previous bars. Did you use a lower time frame ?

I am not a price action trader, I use indicators. I use only one chart to trade, no lower timeframe, no higher timeframe. The indicator on the chart identifies the entry, the way I've learned to read it. I also have 2 additional indicators to confirm my entries. That bar was the entry bar confirmed by all indicators. The entry for me is imperative, my aim is to enter on the bar that forms the apex of a reversal swing, as that offers me the best risk/reward. I start stalking and waiting for that entry from the beginning of the dashed lines drawn, where the divergence starts to form.

Last edited by monpere; February 16th, 2012 at 11:50 PM.
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