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  • #1,141
  • Jul 17, 2008 4:07pm Jul 17, 2008 4:07pm
I'm taking a short on the usd/chf based on the daily close right now and adding to my longer term gbp positions.
I dream, therefore I become.
  • #1,142
  • Jul 18, 2008 3:39pm Jul 18, 2008 3:39pm
Here are a few weekly trades that I'm going to be setting up.

First, the eur/usd closed as a bearish bar off of the high again, which is giving me a signal for short.

The usd/jpy is finally giving a solid direction north with the pin bar on it's weekly chart.

The nzd/usd is showing a bearish pin bar in it's current downtrend.

The usd/chf closed with a bullish bar in the bottom of a flag pattern, which is setting up for bullishness, although I probably won't take that if I'm taking the eur/usd trade. BTW, I closed out that short based on yesterday's bar at break even. We didn't see any movement whatsoever.
I dream, therefore I become.
  • #1,143
  • Jul 18, 2008 4:00pm Jul 18, 2008 4:00pm
Hi Mike,
How can you tell from Pin bar weather price is going up or down ?? For example USD/JPY i do see PIN Bar on weekly chart but how would you know if its going up or down ?? Hope you don't mind answering it.
  • #1,144
  • Jul 18, 2008 4:49pm Jul 18, 2008 4:49pm
Quoting leo9
Hi Mike,
How can you tell from Pin bar weather price is going up or down ?? For example USD/JPY i do see PIN Bar on weekly chart but how would you know if its going up or down ?? Hope you don't mind answering it.
Hey Leo, to be fully honest, you don't! That sounds crazy, but it's true IMO. Once a pin bar breaks into the direction that it is set for, for instance the usd/jpy is bullish. Once price breaks the top of the bullish pin bar, probability is for it to keep moving in that direction. Confluence is a key thing when looking at pin bars as well. Look to the lower timeframes for a solid entry if your trading the weekly pin bars, so as not to put yourself into too large of a drawdown.

I hope that could help and if not, I could try to elaborate a little more.
I dream, therefore I become.
  • #1,145
  • Jul 18, 2008 4:51pm Jul 18, 2008 4:51pm
Quoting mike w
Here are a few weekly trades that I'm going to be setting up.

First, the eur/usd closed as a bearish bar off of the high again, which is giving me a signal for short.

The usd/jpy is finally giving a solid direction north with the pin bar on it's weekly chart.

The nzd/usd is showing a bearish pin bar in it's current downtrend.

The usd/chf closed with a bullish bar in the bottom of a flag pattern, which is setting up for bullishness, although I probably won't take that if I'm taking the eur/usd trade. BTW, I closed out that short based on yesterday's bar at break even. We didn't see any movement whatsoever.
Hi Mike,

I always love your analysis man and I think they are all spot on. Great work!

I would like to add gu for a short based on this weekly chart. I got some good long pips this week from gu based on the previous weeks close but next week looks more favourable for short based on the long wick at the top and the close below 2.000 at this week's close. Also, those trades that you posted confirms that us dollar bulls are coming back.
Have a great weekend bro and may the pips be with you.
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Patience + Discipline - Greed = Success
  • #1,146
  • Jul 20, 2008 7:29pm Jul 20, 2008 7:29pm
Hi Mike,
Thanks for the explanation. Did you observe long pin bar on EURUSD on 15th July. The price went down after that. Do you think that confirms downtrend or bearish move on EURUSD ??
  • #1,147
  • Jul 21, 2008 8:58am Jul 21, 2008 8:58am
Quoting leo9
Hi Mike,
Thanks for the explanation. Did you observe long pin bar on EURUSD on 15th July. The price went down after that. Do you think that confirms downtrend or bearish move on EURUSD ??
Hi again Leo, I saw a short pin bar on July 14th, but after that I didn't see a reversal or anything on the 15th. That was showing shorts back at that time. After that, we got a bearish weekly close and so I went short when the markets opened up last night.

Just an update, I got into eur/usd, nzd/usd, and usd/jpy positions on the opening of the week. Once the bars break to their respective up or downsides, I plan on adding to the positions.
I dream, therefore I become.
  • #1,148
  • Jul 22, 2008 12:03pm Jul 22, 2008 12:03pm
Quoting mike w
Here are a few weekly trades that I'm going to be setting up.

First, the eur/usd closed as a bearish bar off of the high again, which is giving me a signal for short.

The usd/jpy is finally giving a solid direction north with the pin bar on it's weekly chart.

The nzd/usd is showing a bearish pin bar in it's current downtrend.

The usd/chf closed with a bullish bar in the bottom of a flag pattern, which is setting up for bullishness, although I probably won't take that if I'm taking the eur/usd trade. BTW, I closed out that short based on yesterday's bar at break even. We didn't see any movement whatsoever.
Starting to play out nicely.....
Patience + Discipline - Greed = Success
  • #1,149
  • Jul 22, 2008 3:10pm Jul 22, 2008 3:10pm
Quoting Infinity
Starting to play out nicely.....
Yeah, they definitely are Infinity! I'm planning on adding to the positions at solid areas of retracement if and when they come about. I'm amazed at how far the usd/chf has moved when in comparison with the eur/usd so far.
I dream, therefore I become.
  • #1,150
  • Jul 22, 2008 3:14pm Jul 22, 2008 3:14pm
I just posted a short on the usd/cad based on the 4 hour pin bar at the high. Let's see where she takes us to!
I dream, therefore I become.
  • #1,151
  • Jul 23, 2008 10:15am Jul 23, 2008 10:15am
Welp, Im making a bit of that vacation money with those weekly trades I placed. They are all going great at the moment and on pullbacks, I'll be adding to the positions. I haven't seen any solid areas to place more into them yet however. If the usd/cad closes bullishly, I'll be closing out for a loss of 5 or so pips or possibly at breakeven if given the chance.
I dream, therefore I become.
  • #1,152
  • Jul 23, 2008 11:08am Jul 23, 2008 11:08am
Quoting mike w
Welp, Im making a bit of that vacation money with those weekly trades I placed. They are all going great at the moment and on pullbacks, I'll be adding to the positions. I haven't seen any solid areas to place more into them yet however. If the usd/cad closes bullishly, I'll be closing out for a loss of 5 or so pips or possibly at breakeven if given the chance.

hey hey ma man
hows u mike ? and hows ur life
i agree with u swessey will drop soon but am not sure that E/U will drop to i think we in the bttom and dont forget that E/U and swessey are 2 opposite pair if one go north the 2nd go south anyway i have a good signal to place my buy positon on E/U aswell short swessey
good luck my brother and keep good work
bless u
  • #1,153
  • Jul 23, 2008 11:26am Jul 23, 2008 11:26am
I've just placed a short on the cad/jpy and closed the usd/cad.

Hey Warta, how's it going man? I gotta run but as soon as I get back, I'll be writing back to ya!
I dream, therefore I become.
  • #1,154
  • Jul 23, 2008 3:04pm Jul 23, 2008 3:04pm
The aud/cad closed as a pin bar on the 4 hour charts. It closed at a price pivot zone which is showing more weight on the position. I went long on the close.
I dream, therefore I become.
  • #1,155
  • Jul 23, 2008 3:31pm Jul 23, 2008 3:31pm
Quoting mike w
The aud/cad closed as a pin bar on the 4 hour charts. It closed at a price pivot zone which is showing more weight on the position. I went long on the close.
mikeeeee ma man , i dont trade this pair by the way i place another sell order USD/CHF @ 450 area i think it can be the top for the correction wavehave a good trade mike wish u always the best
bless u
  • #1,156
  • Jul 23, 2008 6:27pm Jul 23, 2008 6:27pm
Quoting mike w
I've just placed a short on the cad/jpy and closed the usd/cad.

Hey Warta, how's it going man? I gotta run but as soon as I get back, I'll be writing back to ya!

Here is my daily on CAD YEN. Looks like you are still in safe territory with your short. I think that you took it off the 4 hr PB.
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  • #1,157
  • Jul 23, 2008 6:29pm Jul 23, 2008 6:29pm
Quoting KissFan
Here is my daily on CAD YEN. Looks like you are still in safe territory with your short. I think that you took it off the 4 hr PB.
Yep, you got it man! Thanks for the update too Roger!

How's it going for ya man?
I dream, therefore I become.
  • #1,158
  • Jul 23, 2008 6:38pm Jul 23, 2008 6:38pm
Quoting mike w
Yep, you got it man! Thanks for the update too Roger!

How's it going for ya man?
OK Mike. I still can't get over how mature you are for your age. lol! I'm old enough to be your father. ha!ha! I am teaching my 13 year old son to trade. Even if he never learns to trade like you, I hope that he exhibits the same positive perspective that you have. I am on a slow ride tradingwise this week. I'm not reading things with good confidence. There are some fundamental changes taking place that I am not experienced enough to digest, so I'm on the sidelines until I see the picture more clearly.

Best regards.
  • #1,159
  • Jul 23, 2008 6:52pm Jul 23, 2008 6:52pm
Quoting KissFan
OK Mike. I still can't get over how mature you are for your age.
Thanks Roger! That means a lot to me man and I appreciate you to even say that.
lol! I'm old enough to be your father. ha!ha! I am teaching my 13 year old son to trade. Even if he never learns to trade like you, I hope that he exhibits the same positive perspective that you have.
With a father like you, I'm sure he's going to be an awesome guy throughout his life. When I get older, I hope I can stay on the right track to being a good person like you are. I hope I'll be able to be a good father like you obviously are towards your son. 13 years old? Can you imagine the possibilities that are going to be laid before him because of your teaching him this? That's awesome man. Jesus, if he realizes it and takes hold of it, he will easily be a future leader of my generation. I hope he even reads this just to be able to realize it. If I had learned this when I was 13 years old, I'd already be much farther on my path than what I am now and closer to my goals than what I am now.
I am on a slow ride tradingwise this week. I'm not reading things with good confidence.
I hear ya on that one too. Other than the weekly charts that showed a little bit of direction, I haven't had a good grasp on anything lately. I almost just feel confused like I'm just not able to grasp what I'm looking for. These are the times that test you, believe me on that. Just stick with what you know (for me, it's the weeklies holding strong) and you'll end up pushing through the confusion and gain even more experience.
There are some fundamental changes taking place that I am not experienced enough to digest, so I'm on the sidelines until I see the picture more clearly.
As for experience, it just takes time. I don't have anywhere near what I would like to have, but I can't push it although I would like to. That's the part that gets frustrating about it- I just want to push through, but time wouldn't be able to keep up if I didn't let it (I know that probably makes no sense lol) Anywho, best of luck in your trades Roger. Remember what I said too, just stick to your guns and what you know until you feel more confident again.
Best regards.
.
I dream, therefore I become.
  • #1,160
  • Jul 26, 2008 3:52am Jul 26, 2008 3:52am
hello ma man hows u mike
this is my cable view for the next week
happy trade mike take good care

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the easy 1st target is 2.0100 area
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