Entry Points - Forex Forum

Hello,

First of all, let me know that I am a totally newbie to Forex, so if my question is too dumb, please, dont flame me

I've been reading your thechnical analysis for about 1 month, and when you see a trading signal, you write some like this (taken from today's EURUSD)

We could take a short position at 1,3310. We will put the stop loss above 1,3390 (-80 pips). The targets are 1,3240 (+70 pips, risk/reward 1:0.9), 1,3140 (+170 pips, risk/reward 1:2.1)

At the time of the writing, EURUSD was 1,3305, but you say to take a short at 1,3310. This usually means that you will wait till EURUSD raise to 1,3310, or to place a order with an upper limit of 1,3310 (so you buy at 1,3310 or lower) ?

In the latter case, risk/reward ratio is always lower because of the price difference, isn't it ?

Thank you for your time (and for your daily analysis, of course ! )

I won't flame you



I place a limit order at 1.3310 but you can sell at 1.3305 or at a better price... And yes it just changes the risk/reward ratio.

This morning I anticipated a bearish movement @ 5:48 GMT, The limit order was 1.3310 but the price had moved until 1.3330 before falling

Again, thank you very much for your explanation. Yes, you anticipated this bearish movement, It was a surprise for me because it was a hard movement, congrats !

I recently registered to your blog. I am a new trader and I like to know if you advise trading from a smaller time frame charts lets say 5 15 or 30 minutes? or you strictly use 1 4 and daily charts?

Regards

I often use the 15 min chart to find the entry point.