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ghous Mar 29, 2009 2:40am | Post# 25181

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Hi, Ghous, what do you think of line 5700? will appreciate to have your comment on both 57/5800 after careful studying. I am not good at judging the quality of lines or PPZs, so, could be very interesting to see your view, or the others who are willing to shed light. thank you
Hi Krue,

Appended below is the chart showing you the 2 ppzs, the 5800 ppz which I was referring to and the 5700 ppz which you seem to have noticed.

....

We guys here on this thread follow simplicity like the rats sue the pied piper.

Both of these ARE ppzs meaning they did provide price some trouble at these levels , however if you go about trying to find every ppz across different time frames on a pair you'll hardly see your bars. Same applies for trend lines.

(I can recall the time when I pmed Jim with a chart with some 30 trendlines spread out over my Eur/Usd chart starting from the weekly and down to the 1H, I ended up with a vertigous head when I pulled up my daily to trade , it obviously was the big guy who rescued me...)

Since the 5700 and 5800 are close to each other it is legitmate to draw the more important one ( and let the other be visible to you through your naked eye without having a need to draw an Ad Infinitum horizontal line to denote it). It's discretionary though, you may add the 5700 ppz if you still want it on your chart but for me having limited lines on the chart ones that RECENTLY have been most respected by price is of paramount importance so as to allow the bars to do the talking

Regards,
Ghous.
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krue Mar 29, 2009 4:05am | Post# 25182

No worries, diligent man, thanks in the first place I got your reponse quick. I said no worries, coz I am not presenting charts messed with dozens lines here, I am too, just like you experienced one that only focus on the major things, though still working hard to pull pieces here and there together.

no surprise to see different drawings on this subject, we are working on fib ret,ppz, confluence, many elements here, and the choice of these makes a lot difference, that is understandable. thanks again for the explanation, wish you a big profitable week to come.

Hi Krue,

Appended below is the chart showing you the 2 ppzs, the 5800 ppz which I was referring to and the 5700 ppz which you seem to have noticed.

....

We guys here on this thread follow simplicity like the rats sue the pied piper.

Both of these ARE ppzs meaning they did provide price some trouble at these levels , however if you go about trying to find every ppz across different time frames on a pair you'll hardly see your bars. Same applies for trend lines.

(I can recall the time when I pmed Jim with a chart...

volatilemonk Mar 29, 2009 5:45am | Post# 25183

Time for trading
 
Hi to J16 and all of you, this has been said so many times on this forum but I have to say it again.. this thread is so good. I can't believe how much money I have spent on trading courses, and not learnt stuff as vital as what is found here, as well as on Clockwork's excellent Silent Service thread and BRV's No Brainer thread.

Just wanted to find out how much truth there is to the often repeated notion that we should trade only at particular times, eg peri the London open time, and get used to a particular time of the day to trade. Also I have heard some say we shouldnt trade on Mondays, as that is the day when the trends are unclear. Some other gurus also say to avoid Fridays. What do you guys think?

Thanks for all this fantastic information!


Volatile Monk(ey)

alter Mar 29, 2009 8:12am | Post# 25184

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Hello guys.
Do you have such a huge gap on EURCHF , daily chart FxPro, data feed? It looks OK on other timeframes.
alter
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Greenhaze Mar 29, 2009 9:11am | Post# 25185

Hi to J16 and all of you, this has been said so many times on this forum but I have to say it again.. this thread is so good. I can't believe how much money I have spent on trading courses, and not learnt stuff as vital as what is found here, as well as on Clockwork's excellent Silent Service thread and BRV's No Brainer thread.

Just wanted to find out how much truth there is to the often repeated notion that we should trade only at particular times, eg peri the London open time, and get used to a particular time of the day to trade. Also I have...
Those are really good threads you mention ;]

I wouldnt be worried about mondays and fridays. If you play setups on higher timeframes it really doesnt matter. Mondays sometimes are very slow and not clear about the direction but only if you daytade imo. Fridays are those days when traders close their trades so seeing price reversing on fridays is nothing unussual but one question stays here...why most traders see friday as a stop hunting day?

ghous Mar 29, 2009 10:48am | Post# 25186

1 Attachment(s)
Hello guys.
Do you have such a huge gap on EURCHF , daily chart FxPro, data feed? It looks OK on other timeframes.
alter
that's pretty strange,

Fxpro's fine on my end...
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ghous Mar 29, 2009 10:53am | Post# 25187

No worries, diligent man, thanks in the first place I got your reponse quick. I said no worries, coz I am not presenting charts messed with dozens lines here, I am too, just like you experienced one that only focus on the major things, though still working hard to pull pieces here and there together.

no surprise to see different drawings on this subject, we are working on fib ret,ppz, confluence, many elements here, and the choice of these makes a lot difference, that is understandable. thanks again for the explanation, wish you a big profitable...
I have no dought that you're a good trader Krue,

Not sure if you know it but I am more than confident you'll do it.

We have so many new ppl here pouring day in and day out but it's so damn easy to cherry pick the ones that really want to make it, I wouldn't demur to put you in that category Krue

All the best for your "pulling things together"

Regards,
Ghous.

ghous Mar 29, 2009 10:58am | Post# 25188

Here's a setup I'm watching very closely. Fib confluence and W1 ppz around 1.3300. Also, 50 fib ret and daily ppz around 1.3100. Let's see what happens...

Daily
Attachment 225164

Weekly
Attachment 225163
Yup!

If it's got to resume it's uptrend this looks a nice spot to do it on or else we may be heading for a triple bottom...

Anyways who knows...

Let price action show you the way

ghous Mar 29, 2009 11:07am | Post# 25189

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Not sure if anybody posted this up already but here's another setup which I would rate as A+

Got deceived by the Pin earlier as price paved way for 57, the 2 day pin now looks pretty.

Great shape!

Great location!

It's got space too...

Regards,
Ghous.
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ljr Mar 29, 2009 11:26am | Post# 25190

Hello guys.
Do you have such a huge gap on EURCHF , daily chart FxPro, data feed? It looks OK on other timeframes.
alter

Mine also looks like that, only on the Daily timeframe.

rustyjeff Mar 29, 2009 11:49am | Post# 25191

Not sure if anybody posted this up already but here's another setup which I would rate as A+

Got deceived by the Pin earlier as price paved way for 57, the 2 day pin now looks pretty.

Great shape!

Great location!

It's got space too...

Regards,
Ghous.

The 4hr looks set to roll over as well. 4hr pin + div.
Sorry cant post a chart now

hartnet Mar 29, 2009 12:00pm | Post# 25192

Not sure if anybody posted this up already but here's another setup which I would rate as A+.......................... Regards, Ghous.
Hi Ghous, how do you play this two day pinbar? On break of the low? or on retracement to which fib level? I could foresee that the stoploss will be at the high of this pin bar plus spread. Thanks

jattputt Mar 29, 2009 12:07pm | Post# 25193

Not sure if anybody posted this up already but here's another setup which I would rate as A+

Got deceived by the Pin earlier as price paved way for 57, the 2 day pin now looks pretty.

Great shape!

Great location!

It's got space too...

Regards,
Ghous.
For a second - I thought it was Jim's Post.

simoncs Mar 29, 2009 12:41pm | Post# 25194

us equities
 
there are lots of weekly bearish pins across the US equity mkt, so likely to be a bad week for the dow

...and we all know what that might mean for jpy crosses, hey Rac

rustyjeff Mar 29, 2009 1:27pm | Post# 25195

1 Attachment(s)
The 4hr looks set to roll over as well. 4hr pin + div.
Sorry cant post a chart now

heres the 4hr chart
a stubby little pin (more indecission bar) then the move lower
giving us what we now see on the daily.
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ghous Mar 29, 2009 2:26pm | Post# 25196

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Hi Ghous, how do you play this two day pinbar? On break of the low? or on retracement to which fib level? I could foresee that the stoploss will be at the high of this pin bar plus spread. Thanks
Normally I would have placed the stop loss above the high of the pin bar. but the other pin bar which failed earlier could serve as a decent proxy eye for the current setup,

I've mentioned earlier that I like my stops as tight as possible within boundaries of common sense.

Regards,
Ghous.
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ghous Mar 29, 2009 2:30pm | Post# 25197

For a second - I thought it was Jim's Post.
He likes lime green bars to denote bulls

ghous Mar 29, 2009 2:31pm | Post# 25198

heres the 4hr chart
a stubby little pin (more indecission bar) then the move lower
giving us what we now see on the daily.


.

Jlr Mar 29, 2009 2:42pm | Post# 25199

Normally I would have placed the stop loss above the high of the pin bar. but the other pin bar which failed earlier could serve as a decent proxy eye for the current setup,

I've mentioned earlier that I like my stops as tight as possible within boundaries of common sense.

Regards,
Ghous.
Great stuff Ghous, thanks

james16 Mar 29, 2009 5:49pm | Post# 25200

looks like post one material.

jim

I have come to understand recently that it really only takes one good trade a month. Not that I only take one trade a month, just that it seems there is always one trade that "shows up" to give me a majority of my gains.

Typical month these days.....5-7 trades.

1 monster winner. 2 losses. 2 smaller wins. But the one monster trade always seems to be good for a few percent of gains.....I like trading this way, it's less stressful. It truly is about waiting.....


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