Followers Update !
Best followers
I see that there is a lot of confusion, i want you to get rid of those and i'll explain my trade plan setting.
First of all i want you guys to have a look on this chart :
http://www.mql5.com/en/charts/807549...nvestments-ltd
You guys see that there is 2 channel breakout possibility. We can continue in the current channel.. But we can also break downwards and setup a new continuation channel on downtrend.
the 2 red lines are the main levels we are playing on. These levels are the bottom and top of the FOMC event. ( 15 min Candle graph )
Right now were trading exactly between the range and bulls vs bears are fighting it out on these levels.
Well, what i mentioned in previous posts are the order settings on breakout, because once it really breaks out on confirmation, trend will set and we will see a continuation to NFP or even longer !
So what i've done, is setting up an amount of trade on top of the lines on buy side .. ( 1e target is 1.6280 ) and SL on the sells on 1.6323 absolute high of harmonics structure in monthly.
i setup amount of shorts beneath the lines... with target aiming on 1.5450 and stop loss 1.5380.
What does this mean
Well in worst case scenario... trend is going to set , and triggers all new short limit stops.. and buy limit stops ( which will be very very unlikely )
IN this case we will have a +- 1300$ drawdown on master account.. and problaby taking the loss !
In best case scenario... Trend is going to set southward.. till 1.5450 and we take a roughly 250$ + winnings of september on MASTER account !
IN SUPERB IDIOT FREAKING ALMOST NOT POSSIble best case.. we move first up to 1.6280 ( don't hit SL of sells ) ---> then back down to 1.5450 <--- and we get a roughly 1200$ profits on MASTER
In not bad not good scenario Trens is going to set northward till 1.6280 and we go down a -300$ ( profit septembers covers 180 ) ON MASTER only !
So that is why i setup these trade.
You can decide for you're own what you guys prefer to do !
What i am going to do when i am @ holiday:
- I will NOT give feedback in this forum
- I will not answer on phone calls
- I will not respond to e-mails !
- I WILL check prizes trough mobile phone device !
- I will determine eventually new position if i see changes in structure
- I will do explanation once i'm back from Africa
- I will do monitor NFP.
I am going to setup another SHort and LONG trade exactly on FOMC levels !
I have thought about this the hole week.. i have tried a lot of possibilities.. none of them will not work out well.. because were in ranged ATM !
Best regards ,
FX pendulum
Best followers
I see that there is a lot of confusion, i want you to get rid of those and i'll explain my trade plan setting.
First of all i want you guys to have a look on this chart :
http://www.mql5.com/en/charts/807549...nvestments-ltd
You guys see that there is 2 channel breakout possibility. We can continue in the current channel.. But we can also break downwards and setup a new continuation channel on downtrend.
the 2 red lines are the main levels we are playing on. These levels are the bottom and top of the FOMC event. ( 15 min Candle graph )
Right now were trading exactly between the range and bulls vs bears are fighting it out on these levels.
Well, what i mentioned in previous posts are the order settings on breakout, because once it really breaks out on confirmation, trend will set and we will see a continuation to NFP or even longer !
So what i've done, is setting up an amount of trade on top of the lines on buy side .. ( 1e target is 1.6280 ) and SL on the sells on 1.6323 absolute high of harmonics structure in monthly.
i setup amount of shorts beneath the lines... with target aiming on 1.5450 and stop loss 1.5380.
What does this mean
Well in worst case scenario... trend is going to set , and triggers all new short limit stops.. and buy limit stops ( which will be very very unlikely )
IN this case we will have a +- 1300$ drawdown on master account.. and problaby taking the loss !
In best case scenario... Trend is going to set southward.. till 1.5450 and we take a roughly 250$ + winnings of september on MASTER account !
IN SUPERB IDIOT FREAKING ALMOST NOT POSSIble best case.. we move first up to 1.6280 ( don't hit SL of sells ) ---> then back down to 1.5450 <--- and we get a roughly 1200$ profits on MASTER
In not bad not good scenario Trens is going to set northward till 1.6280 and we go down a -300$ ( profit septembers covers 180 ) ON MASTER only !
So that is why i setup these trade.
You can decide for you're own what you guys prefer to do !
What i am going to do when i am @ holiday:
- I will NOT give feedback in this forum
- I will not answer on phone calls
- I will not respond to e-mails !
- I WILL check prizes trough mobile phone device !
- I will determine eventually new position if i see changes in structure
- I will do explanation once i'm back from Africa
- I will do monitor NFP.
I am going to setup another SHort and LONG trade exactly on FOMC levels !
I have thought about this the hole week.. i have tried a lot of possibilities.. none of them will not work out well.. because were in ranged ATM !
Best regards ,
FX pendulum
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