[Closed out]
Missed TP by 2 pips. Time to get out and I can close shop for the day
Thursday, May 6, 2010
GBPUSD 2010-05-06 Live Trade (Scalping)
Managed to close off my GBPUSD short around 3pm. Price look to have found some support and I took this opportunity to scalp. (Typo on chart, it's M5 chart for the second picture)
[Closed out]
Missed TP by 2 pips. Time to get out and I can close shop for the day
[Closed out]
Missed TP by 2 pips. Time to get out and I can close shop for the day
Subscribe to:
Post Comments (Atom)
2 comments:
Hi Eric, nice to read your posts. Looks like your don't use trend-following method when you scalp. 'Cos from what I know GBP/USD has been on a downtrend for quite a while.
Hi Joe,
Sorry for the late reply, have been a bit busy lately.
"Trend Following" is a relative term to me. In general, I define it by 3 time frames, say T1, T2, T3 (High to low)
T1 provides the road map (direction or flow), T2 the setup, and T3 is for triggering.
Thus, it depends on the market conditions and our analysis and apply the concept accordingly. This is commonly known as MTF (Multiple Time Frame)
Cheers,
Eric
Post a Comment