Price Action Scalping

Mar 10, 2012
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#47
6th trade.

Double bottom (A and B).

Higher lows (1, 2 and 3).

Small range (yellow line).

Bit of battle, break, pulls back, why? Old support (top yellow line).

Target reached (just, to be honest I cheated a bit there, got my profit 1 pip before target, did not like the dance)
 

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Mar 10, 2012
852
63
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#50
Hi there all.

Trend clearly down, (see left side of chart), forms a a block, I am short.

Goes my way then turn, -5.4 pips.

Nothing wrong with this trade, I did what needed to be done, but did not work out.

When everything is done properly, losses need to be taken with grace and to move on.
 

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Mar 10, 2012
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#51
Just got stopped out(trade above), see blue arrow on the left.

Then she trends down, pull back to the ema, forms four dojis. I am short, nearly got me out again at the pullback, but did not. Target reached +7 pips.
 

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Mar 10, 2012
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#53
Where did you short there? At the top of that micro-range or on the breakout?
On the breakout, about 1 pip below the low of the lowest doji.

The Idea is: Bears drags the prices down (the underlying condition is down, as mentioned in the first trade), the countertrends gets in, pushing price to the 1st resistance: the ema, stalls (dojis) breaks, I am in.
 

deebee1

Active member
Jul 19, 2010
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#58
im far from knowing what i am doing to be giving out advice... lol, i would love to join in the discussions but will probably be the one asking all the questions lol
 
Mar 10, 2012
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#59
im far from knowing what i am doing to be giving out advice... lol, i would love to join in the discussions but will probably be the one asking all the questions lol
This should not be about who's got the biggest nose, but it meant to be an exchange of why we made certain decision on trading with the idea to step forward.

Just post your ideas without worries, nobody is judging, the rest will follow.