- #18,682
- Jan 15, 2009 9:29am Jan 15, 2009 9:29am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #18,683
- Jan 15, 2009 9:38am Jan 15, 2009 9:38am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
dow futures.
where do we go from here..
Some one just emailed me that dow's going to finish the day with a PB..
That would be voodoo...
.
Whatever happens, one thing is certain, we're at important resistance level, so let's push those yen crosses up from here.... enough of blood.
where do we go from here..
Some one just emailed me that dow's going to finish the day with a PB..
That would be voodoo...
. Whatever happens, one thing is certain, we're at important resistance level, so let's push those yen crosses up from here.... enough of blood.
- #18,684
- Jan 15, 2009 9:42am Jan 15, 2009 9:42am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
That sure is and nice bit of observation xcov
I am not jarroo in any regard ofcaorse but if you ask me that BUOB was not tradable. the reason i have (not sure if jarroo has the same reason...) is that the BUOb although indicating bullish strenghth, has'nt been able to "peek" over and above the green rectangle marked as the "ppz zone" by Jarroo.
The rectangle is'nt just a fancy way of showing the "ppz zone" how wide you draw it is actually very important.
Jarroo's rectangle ends somewhere abt 1.235 which has been an impressive region...
The best place we would like to see BUOB is at a swing Low. And a BEOB at a swing High. If this BUOB was a BEOB at the PPZ and on the Daily, then were talking money on a short.
In a strong up trend like this pair Bullish Price Action, like a BUOB, can help confirm a uptrend continuation.
Bullish PA in an uptrend and Bearish PA in a down trend is not a bad way to go. As you know my friend.
Jim
Indicators show the past. Price Action "Indicates" the future.
- #18,685
- Jan 15, 2009 9:50am Jan 15, 2009 9:50am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
...
so let's push those yen crosses up from here.... enough of blood.
I think I call it the week and let it roll till at least 136
- #18,686
- Jan 15, 2009 9:56am Jan 15, 2009 9:56am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
... and they listened....
I think I call it the week and let it roll till at least 136
Time to fill the gap 136.60.
Indicators show the past. Price Action "Indicates" the future.
- #18,687
- Jan 15, 2009 9:58am Jan 15, 2009 9:58am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
I caught 129.40. Two pips better then last time. I getting better. lol
I posted my entries in the pf.
Perhaps we should exchange IMs, so one of us can watch the charts and singal...
- #18,688
- Jan 15, 2009 9:59am Jan 15, 2009 9:59am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
That's because you spend too much time typing here...
I posted my entries in the pf.
Perhaps we should exchange IMs, so one of us can watch the charts and singal...
Indicators show the past. Price Action "Indicates" the future.
- #18,689
- Jan 15, 2009 10:04am Jan 15, 2009 10:04am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
- #18,690
- Jan 15, 2009 10:11am Jan 15, 2009 10:11am
Hy there....just to clarify.I speak bad english. 
If i enter on a daily time,should i have to look on lower time frame as 4h to go out ,placing my stops just above/below PPZ ???
Thanks
If i enter on a daily time,should i have to look on lower time frame as 4h to go out ,placing my stops just above/below PPZ ???
Thanks
Enter with multiple lots. Drill down to say the 4hr, zoom out and draw in PPZ's (I like to round up or down to the closest round number).....trail it down. Price hits the first PPZ take partial profit and cut down on your exposure or move the stops to break even depending on your risk aversion. If it hits the next profit target, close the lot and move the stops to just above the first profit target.
You'll be surprised how often price will stall at the PPZ's for a breather.
Patience is essential
- #18,692
- Jan 15, 2009 11:12am Jan 15, 2009 11:12am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
hope you guys took this trade lol ...trading is simply easy lol...
I'm long from 6250 and yes trading is simple when you know yourself.
Isn't $149/month a bit too pricey? It is more that j16pf...for $ sake ..
- #18,695
- Jan 15, 2009 12:03pm Jan 15, 2009 12:03pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Hey... it looks like Jim updated the first post. Check it out.
Mike
- #18,696
- Jan 15, 2009 12:19pm Jan 15, 2009 12:19pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Hy there....just to clarify.I speak bad english.
If i enter on a daily time,should i have to look on lower time frame as 4h to go out ,placing my stops just above/below PPZ ???
Thanks
However you must realize that there is a strong pre-requisite for trying to follow a trade on a tf except on the one you've taken the trade on...and that is experience. Dave (Tehuringa) has loads of it so does many of the senior guys here, if you think you have an experinece level matched with any of these guys it's worth a shot.
In general PA off a time frame lower than the one you entered on is "noise" and insignfant to give you direction, and it's your experience alone that can serve you to distiniguish between PA that you need to consider valid in influencing your trading descisions,
I am still confused why your mini account won't allow you to trade the dailes?? Just because there are alternative ways does'nt mean you discard the best. the best ofcaorse is to set your stops and take profit levels on the daily only unless the resistance/support zone is'nt clearly visible in which case a lower time frame could be referred to do get the inner picture
besdies I don;t think the risk/reward is a worry is it? if for instance you're going for a 150 pip stop it also means you're looking for a potential move of over 150 pips (that you should ensure) the risk/reward whould'nt be a problem...hmmm.... I believe . . .
- #18,698
- Edited 1:00pm Jan 15, 2009 12:45pm | Edited 1:00pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Hi Ghous,
Since you are talking about the last BEOB signal triggered in the EURUSD 4H charts. I would like to ask you several questions (a newbie, full of confusion in mind!)
1.You see there are two BEOB signal. Would you take them all or just the first?
2. I saw both divergence on MACD of the two. Do not dare to touch any of them.
3. If you take, you take at the 50 ret of the coming bar or take the breakout?
Ans2) On this occasion the divergence on the 4H was just an added odd you could add in your favor to not go for the trade, as is in most cases.
Although my main worry was the daily ppz zone the 4H divergence made me feel a lot more confident. Note however that if there was'nt such a ppz zone on the higher tfs, the divergence would never have been the single most important reason for staying away from the 2 BEOBs. Divergences just give you a slight "hint" as to where price "might" head for next and since it does'nt tell you "when it will do so" it is best to wait for supporting PA to give weight to divergence, it is otherwise just a light hint and nothing else hence not a major factor that should decide entry and/or exit. Ans3) I just play a pure breakout of an PA when i look to play it, i.e a 5 - 15 pips pending order above the high/low of the PA setup. So in this case if I had taken a trade my entry would be 10 pips below the low of the BEOB
Regards,
Ghous.
I believe . . .
- #18,699
- Jan 15, 2009 12:48pm Jan 15, 2009 12:48pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #18,700
- Jan 15, 2009 12:58pm Jan 15, 2009 12:58pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
PA (location + shape) + with the trend + supp/res confluence = 
It's great to be back!
Regards,
Ghous.
It's great to be back!
Regards,
Ghous.
I believe . . .