EUR/USD trade Result. looking for Feedback

Discussion in 'Trade Journals - Show us your Candlesticks!' started by kllyklly, Nov 8, 2018.

  1. kllyklly

    kllyklly Casual Member

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    Hey guys, I recently took a trade at what I though was a higher low, only to be stopped out a few days later. I was told that the candle that I took the trade on was not a valid higher low because there were not two descending candles to the left of it. but when I look at the "swing point" chapter in the course there was an example where I seen the swing high and low could be one after another. I'm confused, can you guys let me know what you think? thanks

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  2. mattbell

    mattbell Forum Newbie

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    Hi, there are some details missing from your post however...with EU charts, they often follow swing structures pretty well. If you look on the DAILY picture attached, you can see how it moves with pretty good structure so I guess my advice is maybe don't go against the flow if possible.
    From there, I really like 3 candles of same colour to declare a decent move before a swing. Or at least 2 same colour and third candle a good reversal candle (Like a pin). At times I've even looked at the candles and thought that 1 big candle is equal to 2 candles so it should work out, and it will at times, but it also won't some times so you need to decide how many candles you will go with.

    It could simply be a failed trade at the end of a day.

    I hope that helps.
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  3. mattbell

    mattbell Forum Newbie

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    Thought I'd show some examples seeing I had a few minutes spare to show what I mean in regards to 3 candles. I will post some pictures of some charts right now and you can see how the candles have made (with the trend) a 3 bar pull back. So either 2 candles of same colour then either a 3rd candle the same or the 3rd candle is the setup type of candle. AudChf.png AudJpy.png EurAud.png EurJpy.png AudChf.png

    ok, ok... So some had the 3rd candle as almost an indecision candle then the 4th was the setup candle.. but you can see what I mean. Thi is why I like to look for 3 candles to declare a real pullback.
     

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