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Quoting TerryDawe

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{quote} Good posts: regarding NZDUSD, I look to the monthly Forward Plunger (also known as hammer) for future direction: since the beginning of December price has been range bound between top of monthly FP and weekly RP. Not the best pair to trade though and it would seem not much upward room unless price breaks into the highlighted weekly RP Well done Hickson Wednesday morning, pretty good looking H4 RP. Let's see if it follows through to the downside {image} {image} {image} {image}

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Quoting TerryDawe

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{quote} Thursday AM H4 RP followed through and found support at the 9ema So back into the uptrend from there {image} {image}

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Quoting bistolis

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{quote} I love this clean chart

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Quoting Hickson

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There is something I do not like about this "forward plunger" (nice term by Terry!) on the weekly on AUDNZD ... i wonder what others have to say: {image}

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Quoting TerryDawe

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{quote} Actually if you check the monthly you will see why the weekly FP may be good even though the candle finished red. Two opposing plungers with the first FP yielding and the second RP failing. Plunger failures are a signal in themselves Also on the weekly look at the failed plungers which kept price moving up and this past week another weekly FP formed and also an outside week. However price is punting up against BRN 1.1700 so need to break through there for more upside. Daily looking bullish with 9 above 18 and above the shadow And lastly...

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Quoting Hickson

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{quote} True, this pattern even goes down to M1. However, with mixed signals this is not the best setup. Like you said, inside daiys are very tricky themselves. Not so much looking on the daily due to my schedule, I need to make this work only using BIG BOSS and BOSS first. I have been looking for FX brokers after quite some time ... man, some have spreads out of this world! (3-4 pips on GBPJPY and other crazy stuff ...).

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Quoting TerryDawe

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{quote} so if you are looking at the higher time frames of month and week, zooming out shows some fairly significant event areas. monthly and weekly attached with line and candle charts I like to use the line charts to help identify common patterns {image} {image} {image} {image}

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Quoting TerryDawe

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start looking for straddles: one recently on daily EURUSD USDCAD NZDUSD {image} {image} {image}

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Quoting TerryDawe

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Significance of BRNs on some pairs: example of AUDNZD {image}

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Quoting Hickson

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{quote} While there is BRN attraction, I have always found it hard to trade from levels. I need a clear signal first and like to use them rather as a target.

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Quoting TerryDawe

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{quote} Good point and I guess it depends on which time frame you are looking for the signals. Daily was a 2 2 reversal so a good signal but a little late for entry. EOD H4 pretty good 2 1 2 reversal down to the center of its shadow EOD H1 pretty good doji with move down to bottom of its shadow then narrowing of shadow before next move to next BRN Again a lot depends on which time frame you are trying to find a trade. In this case both month and week candles were green so you would only be looking at time frames daily and down, so there is no FTFC....

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