Dislikedsaw that pinbar too....but doesnt a pinbar need to have a second candle close higher to be traded with confidence??(james 16) ??? i could be wrong.Ignored
M2B
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Dislikedsaw that pinbar too....but doesnt a pinbar need to have a second candle close higher to be traded with confidence??(james 16) ??? i could be wrong.Ignored
DislikedYou are correct. Since this is a Daily pin bar, we won't know if it's valid until we see how the current daily bar progresses. We could see price go down and retest the 213.50 area again as Aus has just called for. There is room on the 4H and 1H Stochastics for this thing to still move down and retest previous lows before retracing.
M2BIgnored
Dislikedhey money can you expand on this for me... are you drawing your "gray areas" with fibs? how do you determine the top and bottom of the range channel? thanks in advanceIgnored
Dislikedsorry tarmac it took so long, i took my son to basketball practice. to answer your question i use it on 15min, 30min primarilyIgnored
Dislikedsry it took so long, just got back from son's practice,
normally i would use fibs, tl's, stochs, qqe. on that particular run tl's, stochs, qqe workd better because moves were so fast. if you could take a quick peak you can see where the candles basically bounced in a range from basically the same high and low areas. i cant determine that for 2-3 hrs on 30 min chart then i just shade from the top to the bottom. i then wait for candle to breakout, let it close, then trade the 2nd or 3rd candle. depends on time of day, trend, announcements, etc. if i missed something let me knowIgnored
DislikedNikkei is down 544 points. All the japanese bears have been locked out of the action because of bank holiday after bank holiday. I think they want to make up for it.Ignored
DislikedHow do you determine where to put your lines and do you enter the trade on the brake of a line or need other conformation.Ignored
Dislikedsry it took so long, just got back from son's practice,
normally i would use fibs, tl's, stochs, qqe. on that particular run tl's, stochs, qqe workd better because moves were so fast. if you could take a quick peak you can see where the candles basically bounced in a range from basically the same high and low areas. i cant determine that for 2-3 hrs on 30 min chart then i just shade from the top to the bottom. i then wait for candle to breakout, let it close, then trade the 2nd or 3rd candle. depends on time of day, trend, announcements, etc. if i missed something let me knowIgnored
DislikedHere is an indicator that will do it for you. Inputs should be self explanatory.
RodIgnored
DislikedMaestr2, what program are these attachments on, my windows would not open them.Ignored
DislikedWow, did they ever make up for it!! Down over 600 points (over 4%)in one 1/2 day of trading. 4% loss in one day for the Dow would have the President on TV telling everyone not to panic. Man, if NFP should come out really bad, we will be in for one heck of a show tomorrow. It is not beyond the realm that a bad NFP could take Dow below 12,600. Does anyone know the rule about when the circuit breakers kick in on Wall Street? They could be in play tomorrow.Ignored
QuoteDislikedBC-NYSE-CIRCUITBREAKERS/ 01-01 0000
BC-NYSE-CIRCUITBREAKERS/
NYSE tweaks circuit breakers for first quarter
NEW YORK (Reuters) - The New York Stock Exchange has
set its criteria for trading halts in the event of a steep
market drop, making only slight changes for the first quarter
from the fourth, according to data on the NYSE Web site.
For the first quarter, circuit breakers will kick in if
there is a drop of 1,350 points, or 10 percent, in the Dow
Jones industrial average.
There will be a one-hour halt in trading if the drop
happens before 2 p.m., a 30-minute halt if the decline occurs
between 2 p.m. and 2.30 p.m., and no halt after 2.30 p.m.,
according to the NYSE.
If the Dow drops 2,700 points or 20 percent, there will be
a two-hour halt if it happens before 1 p.m., a one-hour halt if
the slide occurs between 1 p.m. and 2 p.m. and the market will
halt for the rest of the day if the slide happens after 2 p.m.
A plunge of 4,000 points or 30 percent -- no matter what
time it occurs -- would result in the market being closed for
the day. The previous trigger was slightly higher at 4,050
points.
DislikedHere is an indicator that will do it for you. Inputs should be self explanatory.
RodIgnored
Dislikedhey all check out pips cruisers chart on the skunny indicator free trading thread..... very cool.... would indicate the retrace up is not over and agree with some of the earlier posts calling for a retrace to that 38 fib (at least)
thanks the chart pips cruiser!
Indicator Free Trading - Skunny - Page 70Ignored
DislikedAnybody know why the Nikkei is closed already? Short trading day or closed because it dropped so much?Ignored
DislikedI've been in Florida for the last couple of weeks. I looked at charts down there but didn't do any trading over the Christmas holiday. I was too busy having fun with my wife and two sons. Yes, we did Disneyworld. Anyway, I like Lepiricus' chart he just posted. I think his retrace numbers could be valid. My daily chart, which closed at 7PM EST, is showing a nice bullish pin bar and the Daily is way OS. 219.20 is the 38.2 Fib from the last move down. I know NFP is tomorrow but it doesn't directly affect GBP/JPY. Price could consolidate below the 216.20 area until the TF's from 4H on down become OB and price could then shoot down again. I personally like retracements to hard Fib levels like 38.2 and 50. London will probably be the deciding factor later tonight, and with NFP tomorrow they might be cautious about moving too much in either direction.
M2BIgnored
DislikedI've been in Florida for the last couple of weeks. I looked at charts down there but didn't do any trading over the Christmas holiday. I was too busy having fun with my wife and two sons. Yes, we did Disneyworld. Anyway, I like Lepiricus' chart he just posted. I think his retrace numbers could be valid. My daily chart, which closed at 7PM EST, is showing a nice bullish pin bar and the Daily is way OS. 219.20 is the 38.2 Fib from the last move down. I know NFP is tomorrow but it doesn't directly affect GBP/JPY. Price could consolidate below the 216.20 area until the TF's from 4H on down become OB and price could then shoot down again. I personally like retracements to hard Fib levels like 38.2 and 50. London will probably be the deciding factor later tonight, and with NFP tomorrow they might be cautious about moving too much in either direction.
M2BIgnored