Hope you guys made descent profit out of this pair. I sure didn't, since I just now realized the power of DT Group Rotations :o
Thanks DT for the introduction.
This is based on which currency pair exhibits the most up/down "energy". From DT Group Rotation, it was obvious audjpy pair has the most uptrend energy.
And the DB room was the proof.
FrankC Wrote:This is based on which currency pair exhibits the most up/down "energy". From DT Group Rotation, it was obvious audjpy pair has the most uptrend energy.
And the DB room was the proof.
Ok you getting on route...
. At this point you discovered a vehicle lòet's say "VERY TRENDY" . In the process to learning how it works you are already at a good point. So since you want to take the best from this piece of art you have followed the very clear videos and papers from TOM JOSEPH. Because of that and because I believe you can quickly obtain the most from DT, let me ask you a question : can you explain why -being the currency so strong -there are no setups on that ? In order to help with the answer let me post you the HISTORY CHART ( you have it too, just click on the pairs) on Daily and on 3 hrs , 1hrs and an ...almost plain vanilla daily Chart...
Well, the answer is very simple: the soft (as a good trader would) recognize clearly a full steam trend up since mid october, but do not find any safe entry point because on that "degree" there aren't corrections wide enough to allow a "safe entry".
Take a look to the 6hrs and 1 Hr.: there you'll find entries, on 6 quite controversial , on 1hr,. clearer.
This means - and it appears clear from the chart- that on lower degrees there is room to trade since the corrections are good enough to allow a safe entry.
There is a but: where was that entry? on the retracement or on the BO? I do not know but at this point does not matter except for the one on the 1hr....@91.44 with TGT @91.70 , : was it on BO and has been already successfully achieved but JUST AT MID WAY TGT since 91.70 hasn't been touched but price rejected back....
Conclusion: what we need now working on Daily with DT? just a wider correction, wide enough to let the soft propose a good setup with interesting RRR. In simple words , market should show some defined weakness to allow the operators to enter massively at a cheaper price.
Good afternoon
Hmmm, intersting observation. I wonder why the DB room shows the target 91.70 has been hit, when the high was 91.52 :confused: Should have checked the chart before posting. Is this an error?
And you are right: the daily rotation is not showing any bullseye, at least not yet. It is just a matter of time for a good entry with RRR > 1.5.
Also, why the latest daily rotation is showing 12/07, shouldn't we have one for 12/08 (this Friday)?
FrankC Wrote:Hmmm, intersting observation. I wonder why the DB room shows the target 91.70 has been hit, when the high was 91.52 :confused: Should have checked the chart before posting. Is this an error?
Frank
Trading isn't so mechanical.... The algorithm is clever: after thousand and thousand of contracts traded it still amaze me since its logic is exactly the same of a trader.
In this case: PROFILE SHOWS WHAT? that the move is over! Soft couldn't care less if in such short TF TGT hasn't been reached. It jut know that:
- The level (distance) calculated hasn't been reached within the given time
- The PA inverted on a Double Top , as 7 times out of 10 happens.
- The subsequent move back has confirmed the END for the time being of THAT impulse up in THAT degree. PERIOD.Nothing more nothing less. Like any trade should be.
- It couldn't care less that the TGT isn't reached: this move is over and did not yield what was supposed to , but yet it DID yeld a half way TGT. Step by step lets move to the next one...
- AMOF Finally tells you: "Forget it for the time being ("do not fall inloved with") and wait for the unfolding of the action.
One more thing: doesn't change very much but -being cosnistent with the approach- the minimal RRR you should look for is 1.60. What is 1.60? Simply rounded 1.618...
Good afternoon
Well, RRR is a whole new subject by itself. Everybody has different opinions on where should be the target exit. 1.5, 1.6, 2, etc., what is most important is to keep your max pips profit.
For me, I have my initial 30 pips sl, and when hit my breakeven, let MA's stop me out. Also depends on the Profile status before exiting the trade.
FrankC Wrote:Also depends on the Profile status before exiting the trade.
Can you elaborate the concept and describe an example ?
When the prices hasn't hit the target, and the time expires in the room, I have two choices: take whetever the profit (as was the case in DB room for audjpy), or just stay with my trade as long as my contexual exit (this is a mechanical exit strategy, based on moving averages cross-over, and candlestick patterns that I have developed).
I see...
Good luck Frank!