{quote} tradeaway i dont understand which is the area here... the moving average?
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Sirovai,look at the box on the chart I posted,I didn't mark that box in response to your post I put it on my chart on Sunday.You went short at major support area.Look left old mate.
{quote} Sirovai,look at the box on the chart I posted,I didn't mark that box in response to your post I put it on my chart on Sunday.You went short at major support area.Look left old mate.
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Malle i was referring to the EURGBP chart posted by tradeaway.
on usdcad i understand my mistake (actually i see that support zone but i thought it was far from my entry...)
In advance usdcad passed trough that resistance area without problem (a sign of force)...
{quote} Malle i was referring to the EURGBP chart posted by tradeaway. on usdcad i understand my mistake (actually i see that support zone but i thought it was far from my entry...) In advance usdcad passed trough that resistance area without problem (a sign of force)...
{quote} tradeaway i dont understand which is the area here... the moving average?
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if you look at the flip area in the past you will see that the two pins closed above it nt below it which means we are likely to have an immediate bullish retest rather than go down.a better way would have been if it closed below the area
{quote} tradeaway i dont understand which is the area here... the moving average?
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sorry hadn't gotten you..if you are referring to the eurgbp check the left...very little most recent price action(MRPA) but still a good area...I use the ema 150 and 365
yes I am either a straight break of the area or a break and a retracement to the area will do just fine...but am most times open to opposites incase it breaks huge then pulls back above that area..so ill take whatever the market gives me as long as I know am looking at a high probability area(HPA)
USDSGD BEOB We have 6/7 h to close but this is a BEOB for now. Would you trade it? {image}
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I wouldnt take it for one main reason-I would be going against the established trend.sometimes i take them especially when there is enough space but this one just a bad feeling about it..but then again thats just me....the other reasons I can post them once the OB closes before next day action
Normally I hardly trade on any tf lower than the daily..i like starting with monthly then end up on the daily trading off the key zones in the monthly.Additionaly I have two positions already open ,having a third or fourth gives me that bad feeling in my tummy(when i was a daytrader)..like to take at least no more than 5 trades in a month at most 10(bad month sometimes).rants aside
looking at your chart though i notice that the PA is just above the flip area for starters then when i look at the localisation or Most recent price action around the area it looks more bullish than bearish so for me that would be an rea am looking to buy not sell.
reasons:
We are no longer in a downtrend given the bigger picture as shown by florinellz.so selling is going against the immediate tide which i dont like doing.
If I was going to play it I would do it as florinellz would in the picture below...
Tradeaway have you took short trade on NZD/JPY? IMO this pair is in a box {image}
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looking at it from the monthly I have placed a stop order below it incase it blows on the lower side.Am actually waiting for that bearish scenario on your image to play out incase the first one fails.sometimes the market can blow that area and never pullback to it so am prepared for that to..the least likely scenario is the fakeout of the area but am looking at it too.the area is very clean and simple with very obvious sentiments echoed across all three timeframes.such areas are rare but when they do come they fetch some good pips
james16 Chart Thread
