DislikedDamn! EUR/NZD is not giving me too much of a breathing room. The GAP from yesterday too due to the AUD shock rate announcement. Play at your own risk.
DAILY and H4 chart below.Ignored
--NM
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DislikedDamn! EUR/NZD is not giving me too much of a breathing room. The GAP from yesterday too due to the AUD shock rate announcement. Play at your own risk.
DAILY and H4 chart below.Ignored
DislikedThat trend right now looks like a wild horse, I think I will stay away from that one for the moment....
--NMIgnored
DislikedI understand. Anyways, i did something similar to what CHRISP did here:
http://www.forexfactory.com/showpost...postcount=2721
After the BPC formation low has been breached at 1.9620(which is where your typical entry is suppose to be), i waited for a pullback towards the 1.9650 for entry at 1.9645. Essentially, i decided to copy chrisP on this trade. If eur/nzd reaches the target price of 1.9510, that will give me roughly a 1: 1.5 risk/reward.Ignored
DislikedThe EU 4 hour looks good but the weekly support is pretty close by...
--NMIgnored
DislikedYeah, the USDSGD. It did setup nicely, smooth setup, nice, 1, 2, 3 formation, 3sma, etc, bpc. Except that the AUD news forced a severe gap, making entry impossible. I have attached the chart below.Ignored
DislikedHmmm...Interesting...actually, i see a H4, slanted trendline collapse with SETUP chart at M30, Trigger chart at m5. I didnt get in though. i missed it. The trade was triggered at 9am london time. Anyways, i am curious to see if it will reach the projected price target of 1.3966.
On m5, eur/usd is a very UGLY MESS.Ignored
DislikedRules are rules. I stick to 7am to 9am. Rules are rules. I cannot tell you how many times i have seen breakouts before that time frame, but i dont take them. Why? Because i have seen many other cases where there is that breakout before 7am, only to reverse strongly at 7am or 8am london time and head in the opposite direction. And i dont take LOB trades anytime less than 2hrs before a red-labeled news. That is why i passed on a LOB trade in GBP/CAD yesterday. Rules are there for a reason, and there are meant to be followed. There is always another...Ignored
DislikedI've not looked at LOB trades for a long time, but I like your take on them. Something to add back into the research list...Ignored
DislikedI understand. Anyways, i did something similar to what CHRISP did here:
http://www.forexfactory.com/showpost...postcount=2721
After the BPC formation low has been breached at 1.9620(which is where your typical entry is suppose to be), i waited for a pullback towards the 1.9650 for entry at 1.9645. Essentially, i decided to copy chrisP on this trade. If eur/nzd reaches the target price of 1.9510, that will give me roughly a 1: 1.5 risk/reward.Ignored
DislikedHere's another way you could have played this one. Again, we in essence have a 1,2,3 formation. Price then breaks the trendline and the 2 of the formation. Rather than enter here, if we fib out the move down, the 50% and retracement trendline line up perfectly. Opportunity for a touch trade?
I didn't see this at the time, but it shows that this sort of thing works again and again.
Nice tradingIgnored
DislikedHere's another way you could have played this one. Again, we in essence have a 1,2,3 formation. Price then breaks the trendline and the 2 of the formation. Rather than enter here, if we fib out the move down, the 50% and retracement trendline line up perfectly. Opportunity for a touch trade?
I didn't see this at the time, but it shows that this sort of thing works again and again.
Nice tradingIgnored
DislikedYes it keeps ticking, those are the best patterns I think, they give you a very nice heads up that things are about to change, as long as they happen around S/R levels they are very accurate.
--NMIgnored
DislikedHere's another way you could have played this one. Again, we in essence have a 1,2,3 formation. Price then breaks the trendline and the 2 of the formation. Rather than enter here, if we fib out the move down, the 50% and retracement trendline line up perfectly. Opportunity for a touch trade?
I didn't see this at the time, but it shows that this sort of thing works again and again.
Nice tradingIgnored
DislikedI was thinking that same thing, I only have one Beach House, I dont have a Brazilian of them, I would not know where to put that many of them....
--NMIgnored
DislikedThanks, chris. I keep learning things or being reminded of things i already forgot. I noticed that entry pattern...but i didnt take it because of AUD interest rate announcement. Like i said here a while ago(check link below), AUD red-labeled news affect NZD.Ignored
DislikedYes it keeps ticking, those are the best patterns I think, they give you a very nice heads up that things are about to change, as long as they happen around S/R levels they are very accurate.
--NMIgnored
DislikedI understand. Anyways, i did something similar to what CHRISP did here:
http://www.forexfactory.com/showpost...postcount=2721
After the BPC formation low has been breached at 1.9620(which is where your typical entry is suppose to be), i waited for a pullback towards the 1.9650 for entry at 1.9645. Essentially, i decided to copy chrisP on this trade. If eur/nzd reaches the target price of 1.9510, that will give me roughly a 1: 1.5 risk/reward.Ignored