Just my 2 Candles worth!

4xpipcounter

Well-Known Member
#21
Hi Comm! Let me stress that it was in that post that the rule of entry would be 4 1/2 grids. It will be different with whatever MA you use.

Here's another point along those lines. As you can tell by the foreground off to the right, each grid covers 20 pips. In this case you are looking for a reading of about 4 1/2 grids from the average. 4 1/2*20=90. So, add or subtract 90 from the current reading on the MA and that is your entry, or in this case, your exit from the trade.

In the case of an exit, you may want to be a little more conservative. If the standard is 4 1/2 grids as the maxim, then you might want to get out around 3 1/2 grids.


thank you. Amazing !!!
 

trader.trends

Well-Known Member
#22
Two bullish bars at EOD on 29 and 30. Today Nifty opened at 5109 and came down continuously. Waited for two bullish bars on intraday and gone long above 5024 on spot. Since the Two bar low is at 4806, keeping the SL at 2% from entry - 4924. All prices in spot.
Low below yesterday's low is at 5076 on spot. That is my TSL.
 

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