Home to start looking at charts and getting back up to speed. Now that I am keeping a keen eye on weekly daily 4hr R & S it has broadened my view of a trade but struggled lately to exit the right ones and hold the right ones. I have found it choppy during the euro session this week but it is me out of step with the markets. No real bad trades this week mostly cutting loses quickly and trading the jpy. Last two days the gbpjpy has been climbing and last night it reached resistance level on the weekly, instead off just letting it shake it's self I still traded it and even shorted it. I guess I'm asking for guidance on handling hitting a target zone. Do you exit and walk away for a while, hold to see if it can break it or turn directions. I know the answer is let the market tell you but in the moment it's confronting.
I have been looking for too many trends. I need to see a move between levels and trade to it. If it trends follow to the next level. Then comes the choice of exit or move stops up for a profitable free trade.
Funny that my last postings about the audusd long proved to be the exact point that it went down. In reversing a trade I find the old stop level is the target. .888 is an old high. Some indicies have dropped into there old high.
Good to read you are enjoying your trading brisvegas and am trading less and trend lining more.
I now like your charts by50 and even think about creating one but one thing at a time. Any chance of weekly usdjpy. It's steadily rising and has held all main lows. Just looking for potential targets. I'm think around 91, 95, 99, 105.
Winks I'm glad for my stops on that audusd and water off a traders back. We trade what we see and that turned into a straddle. Trades both ways with the winner being held long enough to cover the other trade and worth the risk. Didn't do it other than just traded on and was mostly on the jpy which was fine. And that is why the indicies have held and even climbed.
To everyone else, thanks for joining in and sharing your short term trades. Wonder stuff.
