Forex Strategies Forum

by **Ramirez** » Mon May 09, 2011 2:58 am

How about the Eur Usd pair? Where are the right entry points? If I would enter and set my SL in the marked blue zones, I would
risk about 60Pips and therefore I would have a smaller lotsize. Is this right, or would search for a more accurate entry in 15min. TF?

by **Ramirez** » Mon May 09, 2011 11:32 am

Hi,

I don't know how to set the stop loss in this situation. The last swing low is miles away from now. And I didn't want to exit on the swing high of the last high, cause I'm trying to get the most of it.
How about the marked blue zone, is it suitable for a stop loss?

Greetings Ramirez

by **TrendTrader** » Mon May 09, 2011 12:10 pm

[quote="Ramirez"]Hi,

This is how I will place the stop loss so I won't give my profit back. If you wait for it to touch the blue line, definitely you will be stopped at your stopLoss.
Simpleforex may have a better way since he has more experience with this strategy.

my regards

by **TrendTrader** » Mon May 09, 2011 12:26 pm

sorry I didn't see the blue zone. It looks good for stop loss since there was lots of resistance there. just below it few pips as I indicated it in the previous chart.

My regards

by **Ramirez** » Mon May 09, 2011 2:51 pm

@Trendtrader, sorry, my blue zone should have been on your stop loss 2.
I don't see a resistance/support at your stop loss 1?

by **Ramirez** » Mon May 09, 2011 2:55 pm

Eur /Cad nice R:R

by **TrendTrader** » Mon May 09, 2011 4:32 pm

Ramirez wrote:@Trendtrader, sorry, my blue zone should have been on your stop loss 2.
I don't see a resistance/support at your stop loss 1?

hi, in my stop 1, the candle touched the trend line which is a resistance,then it bounced back. that was the 3rd time it touched the same line. let'say I wasn't in the trade, and I was about to enter, I would have placed sell stop at the bottom of that candle -5 or 10 pips.

happy trading

by **Ramirez** » Tue May 10, 2011 3:34 am

@TrendTrader, thank you

I was stopped out with a 34 Pips loss. Then it made a false breakout. Now it's going up again. But I'm not to sure how to enter especially not to sure where to set my stop loss. If I'm entry after the last swing high and set my stopp loss below the last swing low, I have to risk about 90 Pips and have therefore a small lotsize.
Are there better ways to enter and set stop loss?

by **simpleforex** » Sat May 14, 2011 8:35 pm

Hello Traders,

hope all is going well and everyone is looking for tomorrow (Monday).

Here are some setups that we should be watching out for in the coming week.