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  • #961
  • Nov 12, 2018 1:00pm Nov 12, 2018 1:00pm
Question to all traders here, who here uses 50% retracement entry method?, ie like entry on 50% pullback of a pinbar signal [both bull and bear]. With this method you wait for a 50% retracement of the pinbar printed, instead of entering at the break of the pinbar, in the direction you expect.

Are you religious about this method and never ever waver on this rule? Like you would not enter a trade if no pullback occur and sometimes you have to miss trades?
  • #962
  • Nov 12, 2018 2:15pm Nov 12, 2018 2:15pm
Quoting cesar8
Euro dollar this week just bearish. {image}
After seeing the fall of the euro against the dollar, as it does not enter the first swing. I had to wait for a setback, for it under a time frame of 15 minutes, intalo a fibonacci and I hope the price goes back to 38.2, once made the first red candle, entering the market. And here the price makes a new impulse and I have 40 pips more for the basket this week. Good trading to all.
Attached Image (click to enlarge)
Click to Enlarge Name: 2018-11-12 EUR-USD M15.png Size: 19 KB
  • #963
  • Nov 12, 2018 2:33pm Nov 12, 2018 2:33pm
Gold vs. usd, is at its best for this and the next week. The weekly chart shows a fibonacci retracement to the important level of 38.2 which indicates that the price returns to its main downward trend. And start a new swing. I have drawn a bullish guideline, and once the break it will be my entry short. Good trading to all.
Attached Image (click to enlarge)
Click to Enlarge Name: 2018-11-12 GOLD W1.png Size: 27 KB
  • #964
  • Nov 12, 2018 6:16pm Nov 12, 2018 6:16pm
Quoting asadmuneer72
{quote} i will not do long {image}
Hello asad

Can you pls elaborate more on what you see. Your charts have MAs, channels, etc.. What are they?
Thanks
  • #965
  • Nov 12, 2018 8:29pm Nov 12, 2018 8:29pm
Follow up on ND USD

I think there is a flag forming on S/R

A breakout and a retest will be a good sign
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDH4.png Size: 21 KB
  • #966
  • Nov 12, 2018 8:42pm Nov 12, 2018 8:42pm
Quoting cesar8
The aud vs usd left a candle with a big wick last week, the price may be wanting to follow its main downward trend. I have entered short. Your comments are well received. {image}
Hi Cesar8,
Totally agree with the weekly trend, but be carefull with FTA (first trouble area) on the daily...
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily.png Size: 39 KB

profitable trades,
richadi36
profitable trading does not mean trading everyday
  • #967
  • Nov 12, 2018 8:54pm Nov 12, 2018 8:54pm
covered my short EJ on the test of support, now looking for something else....not seeing anything interesting to start...
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYDaily.png Size: 62 KB
Look Sharp/Trade Tight
  • #968
  • Nov 12, 2018 9:04pm Nov 12, 2018 9:04pm
UJ looks like maybe its flagging, maybe building strength to attack 115?
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 55 KB
Look Sharp/Trade Tight
  • #969
  • Nov 12, 2018 9:09pm Nov 12, 2018 9:09pm
Quoting cesar8
Gold vs. usd, is at its best for this and the next week. The weekly chart shows a fibonacci retracement to the important level of 38.2 which indicates that the price returns to its main downward trend. And start a new swing. I have drawn a bullish guideline, and once the break it will be my entry short. Good trading to all. {image}
IMO, it is a bit early to predict before weekly bar close. Maybe it breaks your bullish line and forms a PB at 23.6 Fib level till the end of the week, and next week it will start a new upswing... so I think it would be reasonable to wait till the weekly bar close if you are trading weekly on this market.
profitable trading does not mean trading everyday
  • #970
  • Nov 12, 2018 9:39pm Nov 12, 2018 9:39pm
My USDCad long hit first target at around 50 pips. second lot is at breakeven.
NZDCHF long hit stop loss with a very long wick before going back to resume its bullishness
  • #971
  • Nov 12, 2018 9:40pm Nov 12, 2018 9:40pm
Quoting patterncode
Question to all traders here, who here uses 50% retracement entry method?, ie like entry on 50% pullback of a pinbar signal [both bull and bear]. With this method you wait for a 50% retracement of the pinbar printed, instead of entering at the break of the pinbar, in the direction you expect. Are you religious about this method and never ever waver on this rule? Like you would not enter a trade if no pullback occur and sometimes you have to miss trades?
Hi Patterncode,
If you know 50% retracement method is just to increase r/r ratio. Which method to use, 50% or pinbar break, it depends on many factors. First, it depends on the currency pair you trade, ex: some pairs go without retracing 50%, some do retrace. Second, where it forms, at S/R level, or, in the strong up/downtrend and so on...
Conservative way of trading PB is entry at the break of the PB. If you want to trade 50% retrace method, you should know where to place SL... I hope it gives you some answers to your question...

profitable trades,
richadi36
profitable trading does not mean trading everyday
  • #972
  • Nov 12, 2018 11:04pm Nov 12, 2018 11:04pm
EURJPY

H4/M5 combination

Initially I was not convinced with the support level during the Asian session. It is more or less finding support on the two shoulders of a previous H4 inverse H&S.
Any way, I just entered long after a strong bullish H4 candle forming a good looking triple candlestick formation. Entry is on M5

Your comments about the support for a possible short correction or even a reversal will be great.


Now if you comment is that this H4 support was already a strong one, this means my entry is late. If you think it was not really strong until the most recent bullish H4 candle, then the entry is more of a continuation and is ok. Will be great to know how you think of it.

Thanks
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPYH4.png Size: 15 KB
Click to Enlarge Name: EURJPYM5.png Size: 14 KB
  • #973
  • Edited 11:57pm Nov 12, 2018 11:26pm | Edited 11:57pm
Heads up..
USD/JPY potentially spring loading, ready to jump to 115
Bull flag formation in progress...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 50 KB
  • #974
  • Nov 12, 2018 11:30pm Nov 12, 2018 11:30pm
Quoting PayTheLimit
covered my short EJ on the test of support, now looking for something else....not seeing anything interesting to start... {image}
It was spot on mate, I was too nitty with it, had my entry about 10 points higher ... 2 picky, 2 stingy this time lol ... well done!
Fix up, trade sharp ...
  • #975
  • Nov 13, 2018 3:33am Nov 13, 2018 3:33am
Quoting mtharwat
Follow up on ND USD I think there is a flag forming on S/R A breakout and a retest will be a good sign {image}
I entered long on M30

I have another target which is less than projecting the flag pattern.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDM30.png Size: 16 KB
  • #976
  • Nov 13, 2018 3:47am Nov 13, 2018 3:47am
CAD JPY
Quick scalp of 30 pips

A touch on an H4 TL.
Some divergences on LTF.
I have put a sell stop pending order.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CADJPYH4.png Size: 17 KB
Click to Enlarge Name: CADJPYM15.png Size: 22 KB
  • #977
  • Nov 13, 2018 3:49am Nov 13, 2018 3:49am
Quoting Hickson
{quote} It was spot on mate, I was too nitty with it, had my entry about 10 points higher ... 2 picky, 2 stingy this time lol ... well done!

thanks man, got lucky on the entry, and the exit....nothing wrong with being 2 picky, or 2 stingy, it pays dividends over the long run....

will be watching this level in the yen now on the close for a clue....
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 62 KB
Look Sharp/Trade Tight
  • #978
  • Nov 13, 2018 4:05am Nov 13, 2018 4:05am
Quoting PayTheLimit
{quote} thanks man, got lucky on the entry, and the exit....nothing wrong with being 2 picky, or 2 stingy, it pays dividends over the long run.... will be watching this level in the yen now on the close for a clue.... {image}
Have marked up 114.34 as an area where this choppy creature could make up its mind. Close above = more bullish, rejection = more bearish, not sure if simple as that but it's a plan ...
Fix up, trade sharp ...
  • #979
  • Edited 1:49pm Nov 13, 2018 1:07pm | Edited 1:49pm
EurJPY hit my two Target Profits

CAD JPY hit my breakeven stoploss (missed my TP by a single pip while I was asleep)
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH4.png Size: 13 KB
  • #980
  • Edited 3:10pm Nov 13, 2018 2:53pm | Edited 3:10pm
I am expecting some bearishness with CAD currency in the coming few days.

Here on Daily chart of (CAD Index), we broke the first upper trend line and might be testing the second one.

Attached Image (click to enlarge)
Click to Enlarge Name: CADLFXDaily.png Size: 21 KB


On the H4 chart, We had a diamond pattern to confirm this "temporarily bearishness".
Attached Image (click to enlarge)
Click to Enlarge Name: CADLFXH4.png Size: 19 KB


I think I will check some oil charts to correlate it with CAD Index.


Edit: I am attaching a chart for Canadian Crude Oil. The nose dive is very bearish. Not sure if this support of weekly will hold.
Anyway, I want to delve more into correlation with commodities in general. If any one has before experienced such type of correlation, will be great to hear your feedback.

Attached Image (click to enlarge)
Click to Enlarge Name: Canadian Crude Oil.png Size: 33 KB
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