traderbrazil

OK. Agreed! But let me rephrase my question then... I'm assuming that you already had that trendline drawn before you took the trade. In hindsight I can see that after price went below it, it could potentially become future resistance. But what was its importance, if any, when you decided to take the trade? I'm not sure if my question is clear enough. Thanks once again, Leandro

Hello Thales! I hope you are doing fine! Just one question about the setup: If you anticipated that there could be support where you drew the uptrend line, why did you decide to go short at that point? Thanks four feedback! Leandro

I will be only an spectator this time as my day job does not allow me to spend enough time with the charts at the moment. It would be great to learn some trading and MM techniques from this thread. Good luck to all the participants!!! PS: If I could learn to turn $1.000 to $10.000 in 20 weeks on a consistent basis I would already be the happiest trader in the world... : )

Thanks Thales! I see what you mean... I'm trying to micro trade the setup instead of looking at the bigger picture. Once again, thank you for the feedback!

Would you all consider this break to be a valid entry? The reason I'm asking is because I don't see a HL before the trigger... Thanks for your feedback!

Thanks once again, Thales!!!!

Hi Thales, Good afternoon! I really like the simplicity of your method but sometimes I struggle to find the relevant swings. If you take a look at the attached chart, could you please let me know if you would consider the dotted lines to be valid breaks or if you wait for the "larger" swing area to break to place an order... Many thanks for your help!!! Leandro

In other words, you would prefer to get in at the beginning of the move after a HL/LH formation and with "shorter candles" (lower volatility) - Is that so? Thanks again!

Thanks for the feedback, Gabe! Agreed, although I was asleep at that time... : ) But wouldn't you have considered my short a valid opportunity? Cheers!

Hello all! I took two paper trades this morning... I believe that both setups were valid and although the second trade in hindsight could have been a winner I'm not sure if I should have stayed in it longer... I guess the part I'm struggling with is when I should move my stops to BE/cut possible losers short versus giving my trades room to breathe. Please take a look at the attached charts and let me know what you think. Many thanks!!!!!!!

Many thanks!!!!:thumbs up:

Hi Thales, For this specific trade, at what point did you move your stop to BE? Thanks for your help!!!

Perfect!!! The reason I asked the question in the first place was because I thought that I was missing something regarding previous S/R... Thanks a lot!!!

Hi Thales, Thanks for your reply! I'm not really concerned about the 6 ticks, I just thought that as there was strong support at that level (1.6375) a few days ago I wondered why you chose to put your PT below it. Best wishes, Leandro

Good morning, Thales! On December 30th GBP/USD had a low swing at 1.6374 which I thought was a reasonable PT1 for this trade. Could you please explain how you set up your targets for this trade? Many thanks!!!! Leandro