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DislikedHi guys,
There has not been a great many chances to trade this last week but I believe next week will see some reasonable action so be sure to pay attention!
Here is my thoughts on this week's price action...
[color=black][font=Verdana]But please remember... support/resistance quoted represents "areas" not "to the pip" lines. This is not meant as trade advice, signals or predictions; it is just a summary of my...Ignored
DislikedHi guys,
There has not been a great many chances to trade this last week but I believe next week will see some reasonable action so be sure to pay attention!
Here is my thoughts on this week's price action...
[color=black][font=Verdana]But please remember... support/resistance quoted represents...Ignored
DislikedHi Dan, this is really helpful, I cant thank you enough.
My biggest hurdle at the moment I guess is trying to figure out market sentiment, is the trend continuing, or are we still in retracement, can i look to go long yet, or should i wait. The Eur/usd for example, I was very tempted to take a long at that 50% fib as i thought it was at a great position landing on weekly support aswell, but managed to sit on my hand.
Is this a typical situation where you will not take a long because it hasnt yet returned to the trendline?
Also, if you had...Ignored
DislikedIs this a typical situation where you will not take a long because it hasnt yet returned to the trendline?Ignored
DislikedHi Dan,
Are you considering a short trade on Eur/CAD, based on the daily shooting star?
If so can you elaborate a bit more? I actually see Eur/CAD a bit like Eur/USD,
they both reach the 50% fib from last swing high-low; they both have a hammer on weekly and shooting star on daily... Actually eur/cad is in uptrend for the last 6 month, so trading the shooting star wouldn't it be a countertrend?
Do you consider 1.40 as a big resistance (besides and obvious round number?)Ignored
DislikedHey folks, hi Dan,
Just wanted to chime in and say howdy. I've subscribed to your thread and look forward to continuing on here. I ran into a post of yours by chance on the Jacko thread a couple weeks ago, Dan. You mentioned your thread...and I'm glad you did, because I was looking for a home to this kind of trading since the Jacko thread has died out.
I started trading the H4 and D1 TFs about 4 months ago when a trading friend got me interested in trading with Fibs and round numbers. He had followed Jacko's thread for a long time and gathered...Ignored
DislikedHi Dan,
Thanks for your latest view's. You mention in your summary of seeing trading signals on the 1D and weekly charts, if one signal was bullish and the other bearish, what would you do? All comments welcome.
Cheers.Ignored
DislikedHi Dan,
I can't post a chart right now but please can you give me your advice on the following:
EURCHF - I went long of the nice BUOB off 1.33 Support / Resistance zone from 11/11/10. The trend was UP as far as I could see, price went in my favour and produced a BEOB yesterday, I didn't move my stops to BE as it hadn't made it up to previous high and I couldn't really see any strong resistance. Did you play this bar? If you did, did you move your stops and why? If you didn't play it, any reason why?
EURUSD - went short last night of the BEOB...Ignored
DislikedSorry I missed this one... in part yes. My analysis is based on all the factors... trendlines, fib retracements, higher highs/lows, lower highs/lows and most importantly support and resistance levels.
In the case of the Euro price has broken down below key s/r at 1.3750 which also invalidates the latest swing low. The bearish engulfing bar that formed yesterday gave me a signal to sell off of the retracement to 1.3750. At the same time I was aware that a break above this could signal a move higher up which is why I wait for candlestick patterns...Ignored
DislikedI do also trade H4 setups but they are done from the perspective of the daily trend.Ignored
DislikedThe only difference for me is that the quality of the setup bar must be better on the H4 chart whereas I am not so concerned about the perfect looking bar on the Daily chart.Ignored