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The Pip Range Bar Continuation

martin100181

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Hi Martin,

Thanks for joining.

To answer your questions:

1) Generally speaking I'd follow the continuation method before entering a divergence trade. Especially so in strong trends as you'll get multiple divergences appearing and it can be tough to know what to follow.

2) Not 100% sure what you mean by this? Define which levels?
Thank you John,

about number 2: As far as I understand, to enter on divergence trades you want price to be close to a significant level, not only to spot divergence in the middle of a trend (right?). Also, I see in your charts some boxes drawn that appears to be S R zones. I'd like to understand how you decide what levels are significant and how do you draw and use those "boxes" on your charts.
 

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  • #182
Thank you John,

about number 2: As far as I understand, to enter on divergence trades you want price to be close to a significant level, not only to spot divergence in the middle of a trend (right?). Also, I see in your charts some boxes drawn that appears to be S R zones. I'd like to understand how you decide what levels are significant and how do you draw and use those "boxes" on your charts.
Are you referring to my range charts or time based charts? If the latter, they are camarilla levels and the indicator is available on this forum.
 

martin100181

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My first on continuation.

Is it ok if bars not only touch the cloud but penetrate on it?

Anyway here the pinbar only touched.

286
 

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Solid trade @martin100181 . I prefer to just see a touch and not piercing through, however, whatever works for you is the main thing.
 

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A waiting game on GBPUSD. Short was the flavour of the day with GBPUSD spending the majority of the session in a downswing and an hour after the US open, an opportunity opened. Closed it for +11.

 

martin100181

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Hi John, would you consider this a potencial continuation entry? even with that range and potencial resistance? (i´m in GMT -3)

287
 

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Hi John, would you consider this a potencial continuation entry? even with that range and potencial resistance? (i´m in GMT -3)

View attachment 287
Hi Martin, certainly a classic setup with a nice series of higher lows etc. My one hesitation is the 1.6000 handle and the glaring divergence forming. In saying that, I have taken the trade with a slightly smaller risk. NY open should bump it up.
 

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  • #190
One positive of this trade is I ran it at half risk and kept it tight. 1.6000 and NY proved a bit too much for it.

 

martin100181

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I have a bunch of questions for you John about actual trading.

I´m gona leave them here, just in case you are bored and want to answer ;)

1 - Do you have any rules for TP and SL?
2 - In case you don't: how do you decide when a trade is going wrong and must exit?
3 - Whats your average RR? do you set it in advance when entering the trade?
4 - How do you manage trades when you are in?: Do you set a TP and wait or you follow the trade and decide when to exit discretionary?

It's very likely that I made mistakes writing, I'm sorry about that, I'm not native english speaker.
 

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  • #193
I have a bunch of questions for you John about actual trading.

I´m gona leave them here, just in case you are bored and want to answer ;)

1 - Do you have any rules for TP and SL?
2 - In case you don't: how do you decide when a trade is going wrong and must exit?
3 - Whats your average RR? do you set it in advance when entering the trade?
4 - How do you manage trades when you are in?: Do you set a TP and wait or you follow the trade and decide when to exit discretionary?

It's very likely that I made mistakes writing, I'm sorry about that, I'm not native english speaker.
No worries, Martin. Much better than my Spanish!

1) I always have an SL and TP. Number 1 rule when I trade. Always know my exits before doing the trade.
3) I don't focus on R/R, more on percentage gained. I have a hard stop that I use to base my risk off and go from there.
4) As per point 1, I have a predefined exit but will alter if my view changes. i.e the trade just misses target, I will move my stop to breakeven. If momentum looks to be on my side, I can extend TP and move the stop accordingly.
 

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  • #194
GBPAUD getting chopped down in early UK trading. CPI data still to come. Closed for +16.

 

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  • #195
My successes on GBP seem to depend on getting them done before UK open. Closed for +27.

 

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GBPAUD in a nice move into the Euro/UK open after a pretty lacklustre Asian session for all pairs/currencies. Closed for +12.

 

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  • #198
Got caught here on EURAUD. Price was near the low of yesterday and never got going and reversed course for -16.

 
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