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specgoldbug

12,874 Posts.

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27/02/19

20:26

Post #: 37593125
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Originally posted by specgoldbug ↑

Only something I recently started doing....and combined with my charts I have been looking at tradingview for ideas, the purpose being to try and identify a common theme of stops/limit entries etc....eg If I technically feel its a long but get too many on tradingview calling the same with a similar stop....I will look at that as a liquidity pool for entering long where the stops are....same with if I see a common pool for limit entries I will try and hunt for a quick reversal on that liquidity pool....its very complex this fx trading....and its just another tool I use to try and make sense of it along with timing assistance...

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Example on this aussie I see limit short entries kicking in at .7140.....however their stops will be around .7180....so I may just cut the trade at 7140 and look to reenter short around .7180....if she gets away from me ...well so be it...however if not I have saved 40 pips....and chance of getting in bigger on a bigger move if my bias is right....
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