james16 Chart Thread

Quoting my30marahaba

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dear sir,

I was close my short for this gu and waiting for confirmation to go long any idea sir .......

regrads,
my30marahaba

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Quoting jarroo

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Take a look at ghous post a few posts back. Much of those reasons are why we are seeing a bounce. Price is moving to hard and fast to be a reversal. I'll let PA show me the way.

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Quoting ghous

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hi guys,

ok so finally i can see the 4H bar close as a nice pin bar on the Gu chart, however this is of little surprise to me, as i mentioned earlier there was strong support here.

the problem now lies of how to go about this entire thing, what i am doing is i have a pending long order 10 pips above the pin bar high, while my short is still open, my Sl for this current short is at the same level my pending order is at. if we see a break of the pin bar resulting in a move up we have a plan to take advantage of it, and if it fails to break (it's obviously against strong bearish momentum recently built by the 4H support trendline being broken) we keep banking the short pips i guess a fair enough plan...

Regards,
Ghous.

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Quoting jarroo

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IBFX (1st chart) and FXPro (2nd chart) have different broker times. I like FXPro. But . . . we all know how Price has been treating Pin Bars lately.

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Quoting jarroo

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IBFX (1st chart) and FXPro (2nd chart) have different broker times. I like FXPro. But . . . we all know how Price has been treating Pin Bars lately.

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Quoting ghous

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Question at Jarroo...how do you make your charts appear full size as an "attacthed image", that is you're uploading images right from your pc right? i do the same but my charts will often find the need to be opened in a seperate window to be viewed properly...

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Quoting ghous

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Hi guys, a nice breakout trade waiting to happen on the Usd/cad...Mike you watching it?

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Quoting ghous

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Damn! that's one hell of a difference, i use fxopen and looks like my feed and the fxpro feed is somewhat similiar...

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Quoting jarroo

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When you go to "Save as Picture", Select "Active chart" and input 600 x 600 pixels.

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Quote

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Hey Ghous,

Yes I have been watching this(posted a pic a few pages back in this abyss )

But I only trade breakouts especially shorter term with the trend. They are usually more sustained and you can avoid fake outs such as below. Granted there was no good pullback on the long so that should have kept you out. I would much rather fade breakouts against the trend, but that is another story.


As for gbp/usd SL asked me also about gbp/usd. It was definitely a valid setup with the daily trend. Not one I would have taken though. Just didn't look right, but glad you guys made some nice pips.


Take care

Mike

Quoting ghous

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Gotcha!!



Thanks Mike for the reply,

you're right abt Usd/cad, a major reason why the breakout failed could well have been the fact that it occured against the trend which did not allow it to flourish for long, but tell you what i entered the trade...

if you notice on the 4H the bar that peaked over the top of the range sort of closed with a tail beyond the range, meaning when i go down to say the 1H i see that the price breaks out then comes back to the line (this is the time when the 4H is abt to close) and on this occasion it gave me an IB 5 pips above which lied my long pending order, it got hit but then when i went back to the 4H, and DAMN! the thing showed me a sort of pin bar, ofcaorse the trade was a looser...can you comment a bit on this, a breakout is a breakout on the 1H or on the 4H, and why should it be that a retracment on the 4H would have been a legitmate situation while the 1H was not (or was it??)?

Regards,
Ghous.

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Quoting ghous

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Damn! that's one hell of a difference, i use fxopen and looks like my feed and the fxpro feed is somewhat similiar...

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Quoting ghous

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hi guys,

ok so finally i can see the 4H bar close as a nice pin bar on the Gu chart, however this is of little surprise to me, as i mentioned earlier there was strong support here.

the problem now lies of how to go about this entire thing, what i am doing is i have a pending long order 10 pips above the pin bar high, while my short is still open, my Sl for this current short is at the same level my pending order is at. if we see a break of the pin bar resulting in a move up we have a plan to take advantage of it, and if it fails to break (it's obviously against strong bearish momentum recently built by the 4H support trendline being broken) we keep banking the short pips i guess a fair enough plan...

Regards,
Ghous.

http://www.forexfactory.com/attachme...1&d=1222694082

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Quoting jarroo

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I do like when both IBFX and FXPro agree with each other.

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Quoting sonicdeejay

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I will just look for the possible short....if I were u,,

Sonic

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Quoting mbqb11

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Hey Ghous,

Not sure if I understand you correctly so feel free to re-ask.

The usd/cad was clearly against the trend to take a breakotu long so that should have kept you out of that if you follow that rule(you may not).

As for the BO+ pullback. If you used the 4hr and the 1hr to find an entry I really don't see any good entries on the 1hr. Just because the 4hr, closes outside the range means nothing to me personally. It is all about the PA on the pullback. Using an IB at the pullback is the riskiest PA you can use(but again you can get high reward from it). In this case you are counter trend, so I would always wait for more distinct PA then an inside bar. But again, counter trend BOs have less shelf life if you ask me and are much better played on pure breaks for only a few pips.

Mike

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Quoting ghous

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i can't be blind enough to ignore this sweet looking pin bar...

BTW my short just got stopped out and my long is sitting at +5

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Quoting ghous

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haha! why do you have to use two mt4 brokers??

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