The Famous Pattern - The M15 Setup 1

[Nikita]

Here what i ve managed to do.
EUR/GBP. Famous.
1:1.2 RR..
Didnt touch it, cause was waiting for 1:2 at least..
Nevermind. Next time.

2014-08-15_0037.png

[immy]

Here what i ve managed to do.
EUR/GBP. Famous.
1:1.2 RR..
Didnt touch it, cause was waiting for 1:2 at least..
Nevermind. Next time.

2014-08-15_0037.png

I think its a good trade and well managed.

[Nikita]

And again Eur/Gbp didnt move in an inch in my way.
next

egbp.png

[Tradermurat]

And again Eur/Gbp didnt move in an inch in my way.
next

egbp.png

I think it is little to late enter

[immy]

And again Eur/Gbp didnt move in an inch in my way.
next

egbp.png

Absolutely NO Setup. I'm sure you know now. it was 3 up followed by 4 down, and time was for 5 up. you picked the bottom of hte wave for your shorts. the bottom of C wave.

[Nikita]

I decided not to look at h4.. My mistake. And it was anti 120MA smooth, but it is too late.
Next time will be better!

Here is EU famous.

[yinyang]

Hi Friends at AIMS. I took some time of from trading in the later part of the summer. Now, finally, I am back to trading. Here are the two potential famous setups: Our eur/usd and the usd/chf. please see attachment.

[Nikita]

Just need an opinion - was it worth waiting or if it didnt workout the day after famous appeared - we should close the trade?

ea.png

Thanks in advance.

[Tomi]

Just need an opinion - was it worth waiting or if it didnt workout the day after famous appeared - we should close the trade?

ea.png

Thanks in advance.

Just a personal opinion: let the market decide.

Select the timeframe before setting the pending order and manage the trade using that timeframe. In this case either M15 or H1. There was already new upper AIMS level on H1 and you could have trailed using that one. Use a conscious approach and stick to it. Just my opinion, have fun!

[immy]

Just need an opinion - was it worth waiting or if it didnt workout the day after famous appeared - we should close the trade?

ea.png

Thanks in advance.

This trade should have been close ages ago. Famous is an M15 trade to catch the 5 of 3. usually its over within a few hrs even quicker sometimes.

Moreover, if a move is too strong or too weak, its not ideal. The strong price action that makes the famous should have a normal level wave 3. if it moves too far from purple chances are it will pullback to it. its a balance