Dislikedresistance, ichimoku, MA, or whatever.... everything looks fake to me these days.Ignored
It works till it doesn't
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long eur/jpy, gbp/jpy, usd/jpy 11 replies
EUR/USD Bollinger Band Discussion 3 replies
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Dislikedresistance, ichimoku, MA, or whatever.... everything looks fake to me these days.Ignored
Dislikedresistance, ichimoku, MA, or whatever.... everything looks fake to me these days.Ignored
Dislikedim thinking about going for short @ 90.94 now..... target aimed for 89.75 to 89.1 ..... what do you guys think ?Ignored
QuoteDislikedPrice leads all the rest is just noise. Price never lies.
Dislikedwhen I am thinking - I lose. Widescreen have you seriously rational argument for your opinion ?
I have it simply. I am chartist.Ignored
Dislikedim thinking about going for short @ 90.94 now..... target aimed for 89.75 to 89.1 ..... what do you guys think ?Ignored
DislikedPrice lies all the time, that's the whole point. An institution will paint a bearish daily engulfing candle, consolidate to build contracts 'with the trend' then slam it the other way hard and fast.
If 'price never lies', it would be too easy.
Let's look at the last 3 weeks of daily USDJPY price action....
USDJPY Daily
Three consecutive bear traps (red circles); these are valid 3-candle reversal signals, yet thursday and friday, price slammed north.
So may i ask: do you really think 'price...Ignored
DislikedYou don't play price action in the middle of nowhere, only at key levels. If you're looking to sell in a bull market like this you should already know it's a higher risk anyway. Great trend entries in some of these as well. Let me tell you what I see. Circle one we have a bullish engulfing bar at the swing low. Since it doesn't lay on any previously obvious demand I probably would have avoided, but it worked out anyway. After it breaks the high of circle one, price drops and re-tests the previous high as a demand zone. No big price action patterns...Ignored
DislikedPrice lies all the time, that's the whole point. An institution will paint a bearish daily engulfing candle, consolidate to build contracts 'with the trend' then slam it the other way hard and fast.
If 'price never lies', it would be too easy.
Let's look at the last 3 weeks of daily USDJPY price action....
USDJPY Daily
http://i.imgur.com/gl2LYSX.png
Three consecutive bear traps (red circles); these are valid 3-candle reversal signals, yet thursday and friday, price slammed north.
So may i ask: do you really think...Ignored
DislikedYes but my point for FiatFap was that price action is useless without location, location, location. You can't just say "on look an outside bar!" when it happens in the middle of nowhere and counter the recent trend direction.Ignored
DislikedYou make a great point about location, but isn't that the subjectivity of trading: which level, on which timeframe and on what pair? It's not in the 'middle of nowhere' if you look at the bigger picture.
Again from here, let's time travel back to ~Jan 2010 to see the macro sentiment on the monthly. I've pasted the daily triple sell trap we're discussing to the right. Buyers would have loaded up on each fib level from that strong bullish candle at the...Ignored
DislikedYes but my point for FiatFap was that price action is useless without location, location, location. You can't just say "on look an outside bar!" when it happens in the middle of nowhere and counter the recent trend direction.Ignored
QuoteDislikedwhy would you apply a monthly chart to determine the daily trend?