4hr trade
ChfJpy - Pin at top of range playing with trend but down to support (TP there)
ChfJpy - Pin at top of range playing with trend but down to support (TP there)
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedNo, I know you weren't comfortable with those but the ones with the trend.Ignored
Disliked4hr trade
ChfJpy - Pin at top of range playing with trend but down to support (TP there)Ignored
DislikedIt works about 70% of the time if you know what you doing, instead of blindly playing retraces at fibs. You combine those setups with info from post #14469 and your odds increase to about 85%...Ignored
DislikedHey Guys,
Tonight I am looking at the U/C for a potential trade but need to wait and see how it turns out before I place any orders, here's why:
If you look at the charts you can see that the Monthly is turning former support into resistance (potentially). On the Daily there is a pin forming with good rejection of the recent high (06/10-English dates, not American!).
But, on the other hand this is also turning into a BUOB!
If you drill down to lower timeframes you will see the heavy selling at the recent high which was major support on the higher timeframe, this is why I am tended more to go with the pinbar viewpoint. Hopefully there will be some good selling over the next couple of hours to give me a nice pin, then i'll get loaded up.
First target for a short is 1.1250, then on for another hundred.
Long target is today's high followed by a stop to breakeven and see what happens.
I am biased to the short side, but thats just my opinion and i'm not too sure how much attention i should pay to it!
Any comments welcome....Ignored
DislikedHey Guys,
Tonight I am looking at the U/C for a potential trade but need to wait and see how it turns out before I place any orders, here's why:
If you look at the charts you can see that the Monthly is turning former support into resistance (potentially). On the Daily there is a pin forming with good rejection of the recent high (06/10-English dates, not American!).
But, on the other hand this is also turning into a BUOB!
If you drill down to lower timeframes you will see the heavy selling at the recent high which was major support on the higher timeframe, this is why I am tended more to go with the pinbar viewpoint. Hopefully there will be some good selling over the next couple of hours to give me a nice pin, then i'll get loaded up.
First target for a short is 1.1250, then on for another hundred.
Long target is today's high followed by a stop to breakeven and see what happens.
I am biased to the short side, but thats just my opinion and i'm not too sure how much attention i should pay to it!
Any comments welcome....Ignored
DislikedWhile I am aware that the trend is down, I am looking at the Daily EURUSD PB from 10/10 and wondering if yesterday's action can be considered the Retrace for the 10/10 Pin?
Both have met firm support off the 3400 AND the 13 mth low at 3358.
Yesterday's PB is in too much traffic to be valid by itself, but if we were waiting for the RET to enter the 10/10 PB, is this valid, or is 4 days too much time? TIAIgnored
DislikedThanks Bundy,
Still sitting and waiting.
Still the one question: If this had been with the trend and with better confirmation, would 4 days be too long to have considered it a retrace? Or do we just forget the earlier PB?
Thanks, MIgnored
Disliked7 hours laters..my above post....
My money works harder while I asleep...
Black :: Entry
Red :: SL
Blu :: TP
SonicIgnored
DislikedWOW,
Thanks for your reply - muchmore in depth than I had hoped for - and very much appreciated. There is so much potential to make a profit here, but so many more ways we can lose it. So much to learn, so many mistakes I would rather not have to make if I could just learn from the experience of the masters of the trade here. So thanks again, MIgnored