price action trading

[augubhai]

If pull back are not deep or testing breakout area in a trend which usually happens, it indicates the strength of price in trend direction.

Read about the ST Gap in this thread...
http://www.traderji.com/day-trading/49521-thoughts-day-swing-trading-84.html#post637542
http://www.traderji.com/day-trading/49521-thoughts-day-swing-trading-9.html#post540250

 

[saakk]

If the signal bar is too big and SL is wrecking your MM USE ATR as HARD STOP.

 

[saakk]

Breakout of the opening range, 2 possibilities, successful breakout or breakout failure.. use pullback to enter wit trend and if breakout fails, well shorting such a strong market is not a good idea.

 

[saakk]

Today SELL side will be rule by RBI............................................

 

[saakk]

May be same type of day like yesterday's trading........

Definitely buddy any thing can happen, Problem lies wit us because when price trend too much i (we) try to pick top/bottom and do not expect it to trend any more...

 

[saakk]

Are you expecting RBI will try to control USDINR price after this huge uptrend(strong).

yup they should try to defend the "all time high" though i cant authenticate that statement but this is my best guess.

 

[saakk]

There is documentary By PBS news, i dont remember the name but its about when Pounds has to leave exchange rate mechanism and the famous "soros" trade, what i picked up from that documentary was "when situation is arising through fundamental you cant blame speculators for price rise or fall, may be it can influence by some factors but ultimately price will find its equilibrium". In that documentary gov. and RBE did every thing to scare speculators to stop shorting pounds but it never worked.

 

[saakk]

Used a bigger TSL and not the break-even SL after a scalp, still price came back and triggered it.

 

[saakk]

https://soundcloud.com/morganpage/morgan-page-in-the-air-91

Eat sleep rave repeat..............

 

[saakk]

I think the double top forming now will not be permanent. Price will form a new high above 61.60..............
Reason: Previous corrective wave in 10 minute chart is flat and not deep........

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