3 Ducks Demo journal

May 5, 2011
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#17
Good setup here. Could trade a break of the symmetric triangle forming but will stick to the rules and place order on break of the support at 0.8374
 

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May 5, 2011
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#20
Yes you're right, round numbers and support and resistance. In this case resistance. Thanks, I must try and bear these in mind as well.
 

dazzer_fx

Active member
Oct 21, 2009
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#21
Yes you're right, round numbers and support and resistance. In this case resistance. Thanks, I must try and bear these in mind as well.
Also 400 was the high of the day which adds to it, although TRO is without
doubt a pretty ecentric character his thread is worth a look if just to remind
of the importance of highs/lows of the day. Well done with the thread. Dazzer
 
May 5, 2011
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#23
Yes, I did run through his thread but couldn't come to grips with his methods and lost interest. I'll go through it again though. Thanks for you input. I really need this sort of feedback which I know will improve my trading which I think was lacking previously.
 

dazzer_fx

Active member
Oct 21, 2009
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#26
Hey Dazzer,

Just out of interest, this order was also close to the low of the day but not really a round figure. Any thoughts on that.
I suppose you have to build a story, you had
consolidation prior to the low plus the flag
so the low would not have been as much of
a concern IMO.
 
May 5, 2011
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#29
Looking at this trade again, it was not a good setup. I actually sold on the support that was developing from yesterday. So I'm going to tighten my sl to the resistance as shown in the chart and bring my tp to break even. I should have rather waited for the support at 120.60 to have been breached before entering the trade.
 

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dazzer_fx

Active member
Oct 21, 2009
120
17
28
#30
Looking at this trade again, it was not a good setup. I actually sold on the support that was developing from yesterday. So I'm going to tighten my sl to the resistance as shown in the chart and bring my tp to break even. I should have rather waited for the support at 120.60 to have been breached before entering the trade.
I think its sometimes easier to revert back to a higher time frame to get
perspective, you sold in a into a pretty strong trendline which has just
broken. It then has todays low to contend with and then yesterdays low, in
my mind then it gets some clean air. Perhaps I'm just a little too careful!
 

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