Immy's Corner [The Setup The Hunt - T20's and more]

[immy]

EJ M5 Triangulating.

~update: the m1 trade had a rent, followed with a re-entry and anotehr m5 trade . M5 trade got 50 pips down.

[immy]

"I would especially caution new traders and market participants that reading and passively analyzing your motivations are certainly a necessity, but the acid test comes with active trading under pressure.

Start slowly. Question every trade. What motivated it? How was the trade managed? Was it successful? Why? Did you lose? Why? Write down your assessment and refer to your comments before making your next trade."

TIMOTHY SLATER President, CompuTrac Software, Inc.

[immy]

Good Morning and Goodbye I guess. The morning has been short one again. I made 103 pips on EU EJ and a bit on GU. Hit the Close All Trades Script and done.
I paid a small rent trying to catch some shorts on EJ, but I knew the dominant trend was up. When EJ was getting ready the aims level on other side was far but the fact that trend was strongly moving up, suggested it will compensate for that shortcoming on the setup. meanwhile EU was a perfect S1 in the direction of gator on m5. so took s1 and added on m5 level. worked like a charm.

[Tomi]

Hi Immy, EUR/JPY M1 (50 pips trade) looked so nice, but I didn't dare to take it. SL too far away and purple was interfering. But looked so nice end of C of W4. Divergence and everything.

What do you say about BDC than happened 08:34 UK time? Would have triggered 08:38. I tried to take long here but lot size would have been too much. Tried to take it on lower lot size.

[immy]

Hi Immy, EUR/JPY M1 (50 pips trade) looked so nice, but I didn't dare to take it. SL too far away and purple was interfering. But looked so nice end of C of W4. Divergence and everything.

What do you say about BDC than happened 08:34 UK time? Would have triggered 08:38. I tried to take long here but lot size would have been too much. Tried to take it on lower lot size.

Hi Tomi
10.34 is not a proper BDC but yes a PC for me. and had price not moved so strong in one go, i'd have added on or re-entered. But since it was time to exit, no point making new entries, is what my thought was.

cheers

below is a picture of what we see on EJ now.

[Tomi]

Thanks for the feedback, as you said it was more like "time to exit" situation. Usually I haven't even tried to take trades after this kind of moves but lately princess just seems to keep going. That's why tried to take it with smaller risk. Training for the eye keeps going!

[immy]

Hi Immy, EUR/JPY M1 (50 pips trade) looked so nice, but I didn't dare to take it. SL too far away and purple was interfering. But looked so nice end of C of W4. Divergence and everything.

What do you say about BDC than happened 08:34 UK time? Would have triggered 08:38. I tried to take long here but lot size would have been too much. Tried to take it on lower lot size.

Hi Tomi
10.34 is not a proper BDC but yes a PC for me. and had price not moved so strong in one go, i'd have added on or re-entered. But since it was time to exit, no point making new entries, is what my thought was.

cheers

below is a picture of what we see on EJ now.

update

[immy]

An Important Fact

[immy]

A nice trade but I filterd due to big SL requirement. I think I should have lowered lot size to reflect the pip level required and gone for it. A mistake ... Still Learning!

[immy]

its still dropping but no exit. however now, price has moved away from green. I should be trailing candles.
edit: correction: there is no divergence yet. so no trailing.