What a dramatic night I had on Sunday trading Boom500 after church 😂😂😂hehehhee!
Price just took out a sell signal and I sold with the smallest lot size using 4 positions. This sell signal was risky because I’m selling on an uptrending market in all timeframes.
That is why exactly 1minute after I sold, price took out a spike. I made a $1 loss. I’m placing more sell trades but this time wihh a 1lot size using 2 trades because I just got another sell signal.
The reason why I’m choosing to sell is because although the spike came out after the first signal was given, price respects the first signals short term directional bias.,just as it did a lot of times in the past.
Lesson, place tp of a sell trade at the last bearish candle before the low because sometimes it doesn’t turn at the low but turn slightly before it. Especially in an uptrend. If it’s an uptrend then place tp at the 2nd last candle.
After price took out a spike it took out a buy signal. I placed 4 buy trades with 0.20 lot size. I’m holding until price hits tp or I’ll close with partial profits.
I slept around 3am, I just couldn’t take it🥵🤞I had a long day. I just woke up now and yeah, I’m waiting for a buy signal.
Otherwise, the last two trades before the one that’s about to be given were trades I could’ve ate from. The buy signal had 3 spikes but I held I think I would waited for 2 small candles for me to be satisfied with the fact that I’m holding a buy trade, otherwise I would’ve closed with the first one and the sell signal provided 13 candles for me to eat.
Price is currently trading at an M30 IFVG. It touch this level the first time byaking a turning point exactly on the low of the first bearish candle. Price went up and came back down again to trade inside of this M30 FVG.
I placed one 0.20 buy position because I’m also expecting a buy signal on the M1 timeframe… A spike just came out as I am typing this…
Was waiting for a buy continuation but the price kept on falling down back down.
Price just gave out a signal. I won’t be placing any trades because price is currently trading at a previous relevant high point with a confirmation candle and at the same time, it’s next to a low. If I open using a big lot size and prize happens to take out a spike then I’d be in trouble. Below is a picture showing the high and low respectively.
Now because the template took out a sell signal and price decided to trade towards the highlighted low, I was waiting for a buy signal. Price didn’t even have to mitigate the low in order for it to take out a spike.
A spike came out, and….
I just closed my buy trades with losses because price is about to give me a sell signal, there I’m not holding the trades. Another reason for closing is that price had already taken out a spike after the buy signal which satisfied all positions. Hence there is a high probability that the sell signal will likely reach the other low. As I am typing this, a spike just came out again before price confirmed the sell signal. Therefore the sell signal is invalid without confirmation. Price just took out another small bullish spike. This spike serves as a bullish confirmation. I’m scaling in my entries as price starts to fall.
I have a bit of a tough one here. My template gave out a sell signal and as it did that, price took out a spike immediately after confirming the sell signal. That spike was followed by a buy signal which was also confirmed. It a spike never came out. The template then went ahead to send another sell signal. This might be because the first signal that was confirmed was a sell signal. Now because I haven’t figured out the quality of this trade and it’s probable outcome, I’m staying out of this one.
I have to check on which other instance did the price behave like this in the past.
What I didn’t notice about the above mentioned price behavior is that the signal came out when price was trading at a low and we do know that lows and previous swing highs are relevant points that I have to take note of when I’m looking to sell. After the spike came out and my template gave me a buy signal, it only took out a small spike which didn’t satisfy the entire bullish sentiment and the price kept on falling. What I’m looking for is a buy opportunity to ride the wave surpassing the high that the template took out a signal at.
Ohkayy, I have to attend to some other things for the rest of the day.
Alright I’m back now and can continue doing my thing.
Today price has been moving in an odd manner resulting in my template to give me signals at lows that I would use as tp level. Personally I wouldn’t consider placing my entries next to swing points I use as tp levels because price can paint some spikes and as a result leave you to blowing your account. When the price is like this, it’s better to only take buying opportunities but it’s not safe. I’d rather trade quality over a large quantity of trades that are not worth taking the risk.
More updates loading…
EverythingTrading 