There is a nice looking pinbar on the euro pound 4h chart... but i'm not sure about trading it since that would be trading right into the 7950 previous resistance area.
There is a nice looking pinbar on the euro pound 4h chart... but i'm not sure about trading it since that would be trading right into the 7950 previous resistance area.
- #11,448
- Jul 2, 2008 9:27am Jul 2, 2008 9:27am
What about the daily pin on AUD/JPY yesterday? It broke long today so I'm in. Any thoughts?
This is where you must create a plan.
reason: Look at the weekly. There is a pin @ swing high. the opposite to the daily.
So now how do you play the conflicting signals. Mike will say if you are going to take both then take each as a separate trade. each with its own management.
Weekly: if you took that from sunday then realy you shouldn't even be looking at it just yet. leave it alone. the weeks not done yet.
Daily: If you trade it like james. then you have taken some profit & moved stops to be as it has hit the first lgical area of s/r 102.45.
This is part of growing as a trader. Try different approaches (demo of course) to find what you like & are comfortable with.
When you have an established trade plan these decisions become easier. Its just if it fits what you do or not. Some will take both. some wont take any. & everything in between.
This can be fun. as you learn something new or another light bulb comes on you get a boost from it cause you realise you are 1 more step closer to "getting it". It will give you more confidence as you start to find your own style.
cheers Jeff
- #11,449
- Jul 2, 2008 10:49am Jul 2, 2008 10:49am
This is where you must create a plan.
reason: Look at the weekly. There is a pin @ swing high. the opposite to the daily.
cheers Jeff
Well said Jeff...
At this point in time, weekly TF (week is not yet over) has a opposing pin at PPZ validating daily PB. IMO daily PB should be able to deliver some pips.
Find an Edge. Only way to succeed in this business.
This is where you must create a plan.
reason: Look at the weekly. There is a pin @ swing high. the opposite to the daily.
So now how do you play the conflicting signals. Mike will say if you are going to take both then take each as a separate trade. each with its own management.
Weekly: if you took that from sunday then realy you shouldn't even be looking at it just yet. leave it alone. the weeks not done yet.
Daily: If you trade it like james. then you have taken some profit & moved stops to be as it has hit the first lgical area of s/r 102.45.
This is part of growing as a trader. Try different approaches (demo of course) to find what you like & are comfortable with.
When you have an established trade plan these decisions become easier. Its just if it fits what you do or not. Some will take both. some wont take any. & everything in between.
This can be fun. as you learn something new or another light bulb comes on you get a boost from it cause you realise you are 1 more step closer to "getting it". It will give you more confidence as you start to find your own style.
cheers Jeff
- #11,451
- Jul 2, 2008 1:44pm Jul 2, 2008 1:44pm
Yes a plan is good! I knew that it wouldn't be a huge number of pips bc of that weekly pin but figured it was good for a few. I'm still demoing and practicing trading these pins until I get it right! I appreciate your comments bc when I get some feedback I seem to learn so much more on the trade. Helps me to think it out more. 102.45 though??? Man I don't see much s/r there. How about 102.75? That's where I had set my TP at a least. I'll check again at the end of the day and see where its at and adjust if need be.
hey guyz i am on vacation and i am w0ndering how the eurjpy weekly pin and the usdchf daily pin few days back play 0ut
If anyone to0k those trades can u update me on them
And if someone saw them and filtered them 0ut please write why u didnt take them?
I can try to help you with the charts but not many comments..... The weekly PB as you can see In the blue box between the sunday bars.
In USD/CHF I'm not sure witch bar you mean but I hope you can see it on the chart..... Maybe today is becoming a BUOB that stops at the trendline....
Attachment
/Diane
- #11,457
- Jul 3, 2008 6:19pm Jul 3, 2008 6:19pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
- #11,460
- Jul 3, 2008 7:29pm Jul 3, 2008 7:29pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.