great reversal bars off the r1 on DOW AND S AND P but risk/reward terrible, shame
Slightly better risk/reward now, but only slightly >>>
great reversal bars off the r1 on DOW AND S AND P but risk/reward terrible, shame
Hi, would this not be one of the "negative" pin bars to avoid - i.e. it is a long trade to take but the close of the starting pin was less than the open?
Also, on DDI's chart, why were bars at 9.30 (long) and 10.30 (short) not trades? If they were, they would both have been losses?
Thanks for sharing your method - it looks very simple and has great results, but as I read through the thread and see the ones you avoided, it becomes clear that this is a very subtle method that you have finely honed with great amounts of practice.
Well done indeed, and thanks in advance for answering the questions.
Slightly better risk/reward now, but only slightly >>>
we still have not broken the pin low, it is only a trade if this happens, then you could look for an entry back up the pin to give it a better riskreward
great silver trade, thanks for pointing it out
Slightly better risk/reward now, but only slightly >>>
Pocrel can correct me if I'm wrong but in my opinion the whole point of floor trader pivots is that other traders are watching them which is why they become a self-fulfilling prophecy with buy and sell limits being placed at them.
With that in mind, I wouldn't place them in the Dow rolling unless I was trading the Dow rolling off a floor trader pivot in the Dow future. The reason for this is that the Dow rolling is not traded directly.
As an example of this: your cash rolling has largely ignored the pivots today whereas in the Dow future they have worked perfectly.
hi mcclaine cheers for the support,
well the cac40 bar that i said was a trade there was only 1 point differance between the open and the close (which is very acceptable even with a negative bar, negative close)
as for the 930 long, i had looked at that but the risk/reward was just less than 1 to 1 so i walked away from it, if it was a better risk/reward it was an acceptable trade
as for the 1030 bar we are sitting at S3, we basically have no where else to aim for ie no target so i cant judge a risk/reward
and at S3 or R3 we are only looking for reversal signals so we can quantify risk/reward and position size
hope that all makes sense?
Pocrel, would you take this one mate?
Tail is .0002 off touching the S1 (on my chart!).
Close enough or no trade?
Trade alert!
i thought the rule was dont trade currency after 4:30pm?
i thought the rule was dont trade currency after 4:30pm?