I saw small daily pinbar on usdchf, at 38.2 fib and pivot level, is this not good enough to be A trade?
Attached Image (click to enlarge)
- #8,102
- Dec 6, 2007 9:35pm Dec 6, 2007 9:35pm
- | Joined May 2006 | Status: Trade Towards the 5 ema | 2,881 Posts
- #8,103
- Dec 6, 2007 9:38pm Dec 6, 2007 9:38pm
- | Joined May 2006 | Status: Trade Towards the 5 ema | 2,881 Posts
- #8,104
- Dec 6, 2007 9:51pm Dec 6, 2007 9:51pm
- Joined Oct 2007 | Status: Thanking GOD for today | 1,108 Posts
Plan, Prepare, Execute, Repeat
- #8,105
- Dec 7, 2007 2:22am Dec 7, 2007 2:22am
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
I see, you still enjoy woodo waves....
Let's have a look at s&p instead.... !
Price is sitting just few points away from my favored confluence;
weekly ppz, 50/61 and TL.....
What PA we'll get out of this, how will affect our jpy and $?... we'll find out soon enough....
.
p.s. How do you think, this will affect the us stock market SL?... Not sure about others, but I can't see champagne flowing..
Yea it's fun isn't it "here, let me make business for you, I'm very good at it, just check my resume" ;p
Well I don't know. I got the same 1500ish area, too, and I got truckloads of stuff for USDJPY etc pp, but until some decent PA forms so far all attempts at shorts even with pins have just been overruled. There needs to be an "x element" to make this thing go "eeeeek" again. We'll see soon enough.
Like I said, I can't see it on a moon shot yet, but that might be me being brainwashed by everyone else, in disregard of the charts.
Trust price. Know yourself.
- #8,106
- Dec 7, 2007 7:42am Dec 7, 2007 7:42am
- | Joined Oct 2007 | Status: Nomad | 1,144 Posts
"Support and Resistance either holds or it doesn't."
-Anonymous hillbilly
- #8,107
- Dec 7, 2007 7:54am Dec 7, 2007 7:54am
- | Joined May 2006 | Status: Trade Towards the 5 ema | 2,881 Posts
- #8,108
- Dec 7, 2007 8:10am Dec 7, 2007 8:10am
Yes it's 17 pages and there is an addendum that was added near the end of that thread that includes my post incorporating PA to Fozzy-style trading. Take a look at the thread in the 1KT Trading Room (search my started threads). It is simple but requires trading without deviation from the method..........tough sometimes, but profitable. I suggest you take your time and learn the basics; being comfortable with this strategy is important.
i'll play small first then work my way up.........
uhh...just a small worry though......in the long run, will i turn into C3PO or R2 ?
- #8,109
- Dec 7, 2007 8:12am Dec 7, 2007 8:12am
- Joined Oct 2007 | Status: Thanking GOD for today | 1,108 Posts
Plan, Prepare, Execute, Repeat
- #8,111
- Dec 7, 2007 11:35am Dec 7, 2007 11:35am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
I dream, therefore I become.
- #8,112
- Dec 7, 2007 11:35am Dec 7, 2007 11:35am
- | Commercial User | Joined Jan 2007 | 1,442 Posts
Hi mbq11,
Just wanted to say thank you for the chat the other night.
Wheat held and I've been steadily accumulating it as it moves higher.
Right now I've got all the Wheat I can hold with the margin in my account and carrying well over 2/3 of the maximum permissible position allowed by my broker.
I am sleeping with the laptop next to my bed so I can wake up through the night and check the overnight market. It's making me feel very tired
I had a bit of a crisis yesterday as a technical error meant I came into a sharp move upwards with no charting.
It was a real inconvenience as I have to calculate everything in my head including the entries on multiple positions, respective stops and how they relate to all the pivots on the chart.
It is limit up again today though which is why I am here
Just wanted to say thank you for the chat the other night.
Wheat held and I've been steadily accumulating it as it moves higher.
Right now I've got all the Wheat I can hold with the margin in my account and carrying well over 2/3 of the maximum permissible position allowed by my broker.
I am sleeping with the laptop next to my bed so I can wake up through the night and check the overnight market. It's making me feel very tired
I had a bit of a crisis yesterday as a technical error meant I came into a sharp move upwards with no charting.
It was a real inconvenience as I have to calculate everything in my head including the entries on multiple positions, respective stops and how they relate to all the pivots on the chart.
It is limit up again today though which is why I am here
- #8,113
- Dec 7, 2007 11:39am Dec 7, 2007 11:39am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
I dream, therefore I become.
- #8,115
- Dec 7, 2007 12:18pm Dec 7, 2007 12:18pm
- Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts
Trust price. Know yourself.
- #8,119
- Dec 7, 2007 1:32pm Dec 7, 2007 1:32pm
- | Commercial User | Joined Jan 2007 | 1,442 Posts
This was my original trade in Wheat. (it looks like a stop beneath the pin would have been hit but in actual fact this happened in out of hours electronic trading - some good luck)
Making sure that I only ADD when ALL current positions are in profit, I have managed to build a huge position.
What on earth is the point of managing to catch a move like this unless you make the most of it. As mike said himself moves that trend so well don't come around that often.
I had a sizable account going into this and I've tripled it on this one trade.
The ONLY risk I've taken is been prepared to give back a good deal of paper profits.
A necessary sacrifice to catch the big moves
Making sure that I only ADD when ALL current positions are in profit, I have managed to build a huge position.
What on earth is the point of managing to catch a move like this unless you make the most of it. As mike said himself moves that trend so well don't come around that often.
I had a sizable account going into this and I've tripled it on this one trade.
The ONLY risk I've taken is been prepared to give back a good deal of paper profits.
A necessary sacrifice to catch the big moves
