simpleforex wrote:Here is a short setup in GBPJPY4HR happening...just placed a sell stop order.
cheers
Hi, you are doing really great!!! Keep it up! This strategy is what institutions use, and all we need is discipline and patience for setups to appear so we can stay profitable.
Happy trading
"Proper patience is needed throughout the lifecycle of the trade, at entry, while holding and exit" Dennis Gartman “Self discipline is when your conscience tells you to do something & you don’t talk back.” W. K. Hope.
il brigante, good take on the USDJPY. as per my post yesterday, this pair has bounced up from the trendline. because im late in entering, ive swithched to a smaller timeframe to find a suitable area to jump in and ride it if it continues to move up.ive placed my buy stop just above a resistance area i saw in the 15minute timeframe.This is what i do when i miss a bounce off a significant trenline, i wait and i switch to a smaller timeframe to find areas of support and resistance and place my pending orders there & then there is also the possibility of drawing smaller timeframe trendlines within that larger significant trendline.