Quote:
Originally Posted by Ferrowolf
endy, where's the stoploss for ur strat?
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It is "below" retracement region (for long trend). So below SMA50. At the moment, I am looking for a presence of important price level below SMA50 (daily/weekly pivots or MAs from higher TFs) and I put SL below these levels.
Quote:
Originally Posted by Ferrowolf
i've always been uncomfortable with buying on retracements when price is travelling down..cos i always have a fear that they'll turn out to be reversals instead..
am i missing the point? or do i have a valid concern?
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You are not missing the point. That's exactly what we all fight with I think.
Is it retracement? or Is it reversal?
That's when the currency strength measurement come in handy and if the strength is really good, the probability of reversal is smaller (although it must come sooner or later).
Quote:
Originally Posted by Ferrowolf
would it be better to enter in the reverse order instead when price is coming up? like from the 50sma 4units, the middle 3units, then the 20ema2units?
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Regarding reversed order of buying units, just look in the eurusd, last time it hit SMA50 it was on 10th Dec (that's 8 days ago).
Since then, it traveled 1.5k pips.
However, EMA20 was hit almost every day since the trend begun.
So do you want to enter only once ? or mabye 5-6 times?
bye,
endy