Trade the Pattern -Set and forget ABC OHL - Trade Setups and Systems

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01/03/2010 11:46:18

Tom Leeson
Administrator
Posts: 662

GBPUSD ABC Partern trade 110PIPS - but there was 200pips - well no ones perfect are they?
How?
Traded the pattern, put a stop above the open, jumped the gun but it paid off with a S2 target
Far better to have waited for the ABC confirmation on woodies but a nice trade... required a lot of room to breathe....due to bad entry technique
sometimes you just have to trade the pattern...
3 Standard Lots would be $3300...
A Good Risk reward - stop was about 25Pips due to a hasty market entry - using a technical level the open + pips
Nerves of steel required for a trade like that... but go back on a 10 min chart and see them every week
A divergant woodies showed soome early warning, trading the pattern with the trend - the market dumped the price...:-)
Part 1
http://www.screencast.com/users/MicroTrends/folders/Jing/media/39366126-d2b6-4888-8754-1a22400f6875
Part 2
http://www.screencast.com/users/MicroTrends/folders/Jing/media/f9fad498-9980-45ea-b8ae-302482f66eb7
edited by tom on 01/03/2010

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MicroTrends tom

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Home » NinjaTrader Discretionary Trading Forex, Futures and Equities » Trade Setups and Systems » Trade the Pattern -Set and forget ABC OHL

Home » NinjaTrader Discretionary Trading Forex, Futures and Equities » Trade Setups and Systems » Trade the Pattern -Set and forget ABC OHL