Dislikedhahah - I bet!
I'm just trying to figure out the retracement vs. reversals and how to pick them out. That is definitely a weakness of mineIgnored
Hope this helps.
USD/JPY Discussion 7 replies
NZD/JPY Discussion 12 replies
long eur/jpy, gbp/jpy, usd/jpy 11 replies
EUR/USD Bollinger Band Discussion 3 replies
Suidster's GBP/JPY Discussion 19 replies
Dislikedhahah - I bet!
I'm just trying to figure out the retracement vs. reversals and how to pick them out. That is definitely a weakness of mineIgnored
DislikedDo you expect people to "die" within a year (blowing up their account) and give up forex trading?Ignored
DislikedPrice excellerated downward after breaking 107.30 in late london session yesterday. A break above that level would probably revisit the highs at 107.73---at least.
It seems like it's a tough nut to crack. So a break would make it a good support level for tonights trading...anyway...
So a buy at 107.40 close at 107.70 and rebuy at 107.40Ignored
DislikedGood, I'm glad it works for you. The current daily trend is up, but a reversal seems eminent. You might have to reverse your thoughts on that soon.Ignored
DislikedWe should easily see the daily R1 tonight....another 20 pips or so....take my 80 pips then and hit the bed!!!...Ignored
DislikedGM all - here's how I'm now setting up my charts - I'm no longer naked! - I've added an EMA - here the 13. This enables me to quickly check the action over the 10 or so charts that I watch AND its an excellent guide to price action.
I've never managed to get on with Bollinger Band - I prefer a fixed band around my chosen MA - here is +/- 50.
For the rest, I have the pivots - and you all know who, last summer, put me onto those - thanks again Dove! - and where appropriate, I will draw a fibbo for retracement.
This all helps ME with my trading and I'm posting it in case it helps any of you guys too......
Yesterday, after the wide green candle, price consolidated before the wide red candle back thru the 13 ema, followed by a clearer break down - an easy sell.
Price was then held by the falling 13 ema untill it spiked down to touch the outer -50 band where it was oversold and started to pull back towards the 13ema - I think of this as a 10 pips wide ema - this next push down failed to carry thru and thus became a pull back scalp.
Fibbing that move gave a possible sell off the 50% retrace before the higher lows confirmed a Buy on the break of the 13 ema, which is now supporting price. Price is now above the daily pivot and the mid pivot, thus heading for R1.....some nice pips already locked in behind the 13 ema...http://www.forexfactory.com/images/icons/icon12.gifIgnored
DislikedOK BINGO - The R1 hit and that gives me 20 on my first trade with the yen and then 81 with the eur after that then another 40 with the eur from the S1 and now 20 more here with the yen again...... Let's see = that is a total of 161 pips for the night....... See everyone tomorrow.Ignored
DislikedInteresting setup. I'm naked and i see the same price points without pivots or MA's.
I'm gonna experiment with the 13 EMA ...thanksIgnored
DislikedNP - we all "see" the markets differently and this works for me.
Nice spike up in UJ to hit R1 - for me that's take some profit and allow the remainder to run until it touches the outer band, the next mid pivot OR yesterdays high at 107.75 - there I'll take some more profits....IF price gets there!
BTW, I also had a nice sell in GBPUSD with my chart set up the same way - just closed in the spike down thru S1 to touch the 13 ema -50 band....http://www.forexfactory.com/images/icons/icon10.gifIgnored
DislikedYo Islander!! Just poppin in here from time to time from aus's, Uj and Eu makin Gy look like it's broke or somethin tonite.Ignored