- #11,881
- Jul 21, 2008 7:42pm Jul 21, 2008 7:42pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
- #11,882
- Jul 21, 2008 8:20pm Jul 21, 2008 8:20pm
- | Joined Oct 2007 | Status: work in progress | 1,009 Posts
I wouldn't trade it neither. That's a ghetto pinbar.
please explain "Ghetto pinbar"
Don't chase the market, Let the market come to you
- #11,883
- Jul 21, 2008 8:34pm Jul 21, 2008 8:34pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
please explain "Ghetto pinbar"
- #11,884
- Jul 21, 2008 8:38pm Jul 21, 2008 8:38pm
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
please explain "Ghetto pinbar"
Mr. Trend
- #11,885
- Jul 21, 2008 8:40pm Jul 21, 2008 8:40pm
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
Mr. Trend
- #11,886
- Jul 21, 2008 8:52pm Jul 21, 2008 8:52pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
Did you see this week's uncut version? It was pretty good. Gawd I love that show...
I'm getting too old I think.
- #11,887
- Jul 21, 2008 8:52pm Jul 21, 2008 8:52pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #11,888
- Jul 21, 2008 9:41pm Jul 21, 2008 9:41pm
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
Hello James! I am new to this great thread.
I have a question on trading the TWO CONSECUTIVE MATCHING LOWS or HIGHS breakout. In a downtrend, can we enter the trade as soon as we see the price is lower than the two consecutive matching lows or must we wait until the close of the bar following the two matching lows to see if it is closed below the two matching lows?
I thought someone would have jumped in, but I guess your question's gotten lost amongst the raft of posts the past 24 hours. lol
You are pretty much correct. Yes, you enter on a break of that double (or tripple etc) price point. I prefer 3 pips personally. You can even set a stop order if you like. The MOST important aspect in trading those setups is being VERY strict on the prevailing trend aspect with them. ...Check your higher time frames. Otherwise they very quickly become a 50/50 situation. Which is useless to us.
.
Bundy's status today: "Waiting..." 
- #11,889
- Jul 21, 2008 9:55pm Jul 21, 2008 9:55pm
- | Joined Jul 2008 | Status: Trader | 1,836 Posts
Hi Mike! thanks for those lovely examples, may i know why you use te 60 ema, i really get confused in using MA's i am trading without them at the moment but some part of me wants to bring on a few on to mark some s/r levels, but then which one should it be, ranging from the 8-500 most numbers in there caryy some sort of res and support, you're using the 60 i remember Jim once saying that the single most important ema is the 365...what do you say on this?
"Believe nothing you hear and half of what you see." Proverb
- #11,890
- Jul 21, 2008 10:11pm Jul 21, 2008 10:11pm
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
No I didn't but my wife did. However, I did go see Ace Frehley live a few weeks ago down in Houston. He has a band called Rocket Ride. I really enjoyed it. I still have ringing ears.
Mr. Trend
- #11,891
- Jul 21, 2008 11:06pm Jul 21, 2008 11:06pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
hey ghous, in a prior post, mike said he was on vacation and would be back next week ...
I believe . . .
- #11,893
- Jul 21, 2008 11:10pm Jul 21, 2008 11:10pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #11,894
- Jul 21, 2008 11:17pm Jul 21, 2008 11:17pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #11,896
- Jul 22, 2008 5:56am Jul 22, 2008 5:56am
WOW! you will need some serious long term traders to comment on that lol! i don't have 3 month charts on mt4 and your chart seems to much zoomed in i can't really analyse it properly unless you can peharps post a zoomed out picture.
please remove the grid on your chart...too hard to see what your trying to point out...
- #11,897
- Jul 22, 2008 7:21am Jul 22, 2008 7:21am
Hi guys,
Can someone please comment on the AUD/US weekly? IMHO it's a perfect pinbar at a high along with divergence. It has also pullback so I'm very tempted to enter my short now.
My only hesitation is the strong uptrend but hey....most pinbars are against trends. But what the heck do I know, I'm just a newbie. I'd like to hear from the experts
Can someone please comment on the AUD/US weekly? IMHO it's a perfect pinbar at a high along with divergence. It has also pullback so I'm very tempted to enter my short now.
My only hesitation is the strong uptrend but hey....most pinbars are against trends. But what the heck do I know, I'm just a newbie. I'd like to hear from the experts
- #11,898
- Jul 22, 2008 9:05am Jul 22, 2008 9:05am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Hi guys,
Can someone please comment on the AUD/US weekly? IMHO it's a perfect pinbar at a high along with divergence. It has also pullback so I'm very tempted to enter my short now.
My only hesitation is the strong uptrend but hey....most pinbars are against trends. But what the heck do I know, I'm just a newbie. I'd like to hear from the experts
Best of luck and may the pips be with you
Regards,
Ghous.
I believe . . .
- #11,899
- Jul 22, 2008 9:20am Jul 22, 2008 9:20am
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
that pin bar obviously is good and the divergence makes the scenario better than it appears on the chart, i don't know abt what you or other ppl might think or how they interpret it but its a trade of the weekly and todays bearish momentum suggests the activation of the pin bar, i took it as my last trade of the week. that does'nt necessarily mean you take it too but it seems that the right eye which was forming with that last bullish move is just abt over....and the bears walk in after a long hibernation period and they're HUNGRY! so if i am interpreting it correct the short is now on as illustarted by the daily chart with that tail to the north and a good bodied bearish bar...
Best of luck and may the pips be with you
Regards,
Ghous.
- #11,900
- Jul 22, 2008 10:18am Jul 22, 2008 10:18am
- Joined Apr 2006 | Status: Mmmm pips. | 1,418 Posts
I agree with you GHOUS. By PA rules we should enter at the tip at about .9660 but I am playing aggressive and getting in with 1/2 of normal position now and the other half at .9660. I'll try to ride out until about .9575 the re-assess at that point. Maybe long around .9550. But I'm getting ahead of myself here.
Mr. Trend