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That's why you should trade multple lots...take some off at first target and then you can go to b.e. with the rest.
you can always add later after a retest somewhere if didn't take you out.
Edit: I realize this is a generalization but I think you know what I mean. Most of the trades will not be homeruns and come back and get you but at least you get something, for the ones that do keep going, you get to go for the ride.
Can you help answer these questions from other members on NexusFi?
Just before FOMC Statement !!! I should have had at least 40 ticks TP, but had only 14 ticks 'cos I closed the trade; I don't want to be caught in pre-FOMC web.
Yes & yes, obviously you have to be careful with them, currencies are better on 240M, Daily & weeklies for Ew waves while the EWatch studies work better on tick charts. It takes time to observe and be selective on what to use when. Both can useless and very powerful depending on the instrument, the span and the context.
I've decided to replace my 30 minute chart with a 8192 volume chart. There is nothing magical about either time frame, but I prefer the "smoothness" of the 8192 volume chart. They are fairly comparable in terms of number of bars over time.
Just posting so its clear why the chart changing going forward.
I have decided to take a small long position here at 1.3533. Initial target area is 1.3600 and 1.3615, but will be keeping a close eye as Europe opens.
Fwiw 3512 should hold...worst case 3492.
your 33 has a chance but keep 3492 as a stop in mind..6E that is....3499 e/u....actually stop should probably be a hair under that....3500 would be decent entry