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  • #881
  • Apr 1, 2009 7:53pm Apr 1, 2009 7:53pm
also worth noting for those taking 4hr pins (myself included) that they may look different depeding on your broker and GMT setting...

where does the 4hr start and finish? not major but worth noting...
Grabbing the bull by the horns!
  • #882
  • Apr 1, 2009 9:29pm Apr 1, 2009 9:29pm
Quoting clockwork71
Note the pins going the other direction. Are you sure this is a good set up? Or are you just looking for a trade? There's a big difference, one that will determine your outcome in my opinion.
The first individual pin is going in the other direction, but when you combine the two bars in Dopped Onion's chart into one bar, the result is a bearish 8-hour pin showing a reaction near the 1.33 level. That might be a bit sketcy though; I'm not seeing 1.33 as an important level prior to this week's activity around there.
  • #883
  • Edited 10:14pm Apr 1, 2009 9:49pm | Edited 10:14pm
Quoting capitalist88
The first individual pin is going in the other direction...


My impression is he was referring to the two four hours prior in the 1.3130 area pushing upward. Alluding to the idea this is an undesirable zone for a short because there's prior support from them. I could be off of course, but that's how I saw it.
  • #884
  • Apr 1, 2009 9:58pm Apr 1, 2009 9:58pm
Quoting inflxshn
My impression is he was referring to the two four hours prior in the 1.3130 area pushing upward. Alluding to the idea is this is an undesirable zone for a short because there's prior support from them. I could be off of course, but that's how I saw it.
thats how i see it aswell, and the prior 'buy' pin setup looks a lot stronger then the 'sell' pin setup
Grabbing the bull by the horns!
  • #885
  • Apr 1, 2009 10:09pm Apr 1, 2009 10:09pm
Quoting clockwork71
Note the pins going the other direction. Are you sure this is a good set up? Or are you just looking for a trade? There's a big difference, one that will determine your outcome in my opinion.
Trying to force the issue it appears. I passed on this trade and it would have been stopped by now. I did however take a counter trend long trade on the cable a few days ago. Have now moved my stops to b/e.

I came across a quote yesterday in a book I am reading that seemed somewhat applicable to you and your thread, it's by German economist, Friedrich List (1841):

"(i)t is a very common clever devise that when anyone that has attained the summit of greatness, he kicks away the ladder by which he has climbed up, in order to deprive others of the means to climb up after him"

You and others who share their knowledge and expertise have left the ladder in place!
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  • #886
  • Apr 2, 2009 12:44am Apr 2, 2009 12:44am
on demo account sometimes we get better moments,don't we
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  • #887
  • Apr 2, 2009 4:40am Apr 2, 2009 4:40am
I dont know why everyone is looking to short eur.
Especially eurchf.
1.54 looks possible.
Profit locked in now so we'll see...

Eurgbp is about to hit big support at .9
Watching hawkishly. Well that is if a hawk watches something once every 4 hours. lol
  • #888
  • Apr 2, 2009 4:57am Apr 2, 2009 4:57am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting jicjoc
I dont know why everyone is looking to short eur.
Especially eurchf.
1.54 looks possible.
Profit locked in now so we'll see...

Eurgbp is about to hit big support at .9
Watching hawkishly. Well that is if a hawk watches something once every 4 hours. lol
Take that back 'Everyone' - I'm long - but i have been wrong before LOL

would be nice to see this carry on up, it will finish the week as a WK1 PB and i'll be in early from the daily chart for a change. only time will tell.
  • #889
  • Apr 2, 2009 8:42am Apr 2, 2009 8:42am
http://gmy.news.yahoo.com/v/12774031

This guy is my hero. LOL
  • #890
  • Apr 2, 2009 9:08am Apr 2, 2009 9:08am
lol, just a simple accident! "Officer i swear i feel on my welder and it made this contraption and took me for a ride down the road where i accidentally drank 10 beers"

I've heard worse...


Anyone watching eurgbp?
lovely daily pin maybe...
  • #891
  • Apr 2, 2009 9:24am Apr 2, 2009 9:24am
jicjoc http://www.forexfactory.com/images/s...ser_online.gif
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Member Since Aug 2007
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Anyone watching eurgbp?
lovely daily pin maybe...


Sure am. Also large bullish engulfing candle on 4H
  • #892
  • Apr 2, 2009 9:54am Apr 2, 2009 9:54am
Hi Guys
While watching the eur/gbp I can't help reflecting on how different traders will react to the current pa.
9170 is clearly an area of big interest to traders. Right now The James Boys will be looking for a break above the potential daily pin (or 4H bullish engulfing candle) while the 'No-Brainers' and 'bouncers will be looking for a move back down. The No Brainers will currently be about 50 pips in profit whlle The James Boys will be sitting and waiting.
You may have to go to the 15min chart (shock horror) to see the action in close up
The No Brainers will have risked very little , probably ten pips max, while the James Boys, should they enter, will have to risk about 100 pips.
No Brainers say they are successful because they trade like the Big Boys and although they take more losers their losses are very small but there gains can be very big. Is that really how the Big- Boys trade?
What is my point? There isn't one really. Just putting my ramblings on record. Sorry I can't attach a chart-too stupid.
  • #893
  • Apr 2, 2009 10:04am Apr 2, 2009 10:04am
Shouldn't matter if you risk 10 or 100, your % Risk is what matters. How many lots would you do with a 10 pip stop loss?
  • #894
  • Apr 2, 2009 10:20am Apr 2, 2009 10:20am
Very good point
But it's interesting to reflect that there are a lot of folk who are going to trade the opposite way at the base of a pin-bar
  • #895
  • Apr 2, 2009 10:38am Apr 2, 2009 10:38am
At this point I would just sit and wait because we're at a point when we don't know where it will go, get rejected or continue. Look at silver,UJ,NU,UT, and probably a lot more. It looks like a current is pretty strong for a break but I rather wait for a confirmation and take some sure profit rather than gamble if it will go up or down 50/50...if will go somewhere, I'll move after it shows me,
just my 2 cents
  • #896
  • Apr 2, 2009 10:48am Apr 2, 2009 10:48am
Add EJ, AU, CJ, gold we're all at a S&R area almost right on the dot with all of these areas and lot of them with fib confluence so if you decide to trade I would suggest small S/L in the case you are looking for a rejection just so you don't lose a lot if it breaks.
In general I'm thinking london is closing sowe have to see what new york will decide to do after lunch. Reminder NFP friday tomorrow so it's getting down to the wire.
  • #897
  • Apr 2, 2009 11:20am Apr 2, 2009 11:20am
EJ testing the 134 psych level again.
  • #898
  • Apr 2, 2009 12:21pm Apr 2, 2009 12:21pm
Quoting jonaslt
At this point I would just sit and wait because we're at a point when we don't know where it will go, get rejected or continue. Look at silver,UJ,NU,UT, and probably a lot more. It looks like a current is pretty strong for a break but I rather wait for a confirmation and take some sure profit rather than gamble if it will go up or down 50/50...if will go somewhere, I'll move after it shows me,
just my 2 cents
  • #899
  • Apr 2, 2009 1:51pm Apr 2, 2009 1:51pm
Quoting daveadamsbds
Hi Guys
While watching the eur/gbp I can't help reflecting on how different traders will react to the current pa.
9170 is clearly an area of big interest to traders. Right now The James Boys will be looking for a break above the potential daily pin (or 4H bullish engulfing candle) while the 'No-Brainers' and 'bouncers will be looking for a move back down. The No Brainers will currently be about 50 pips in profit whlle The James Boys will be sitting and waiting.
You may have to go to the 15min chart (shock horror) to see the action in close up
The...
this post really cracked me up...
Never say never.
  • #900
  • Edited 6:01pm Apr 2, 2009 5:17pm | Edited 6:01pm
for AUD currencies and the EURGBP id be looking for more definitive PA and foe the eurgbp totest that low of the 4hr candle, which by my zones that ive drawn is exactly touching the bottom...

oh and also i wouldnt mind getting your thoughts CW on the USDCHF chart (the second one) what do you make of the candle with the arrow to it?
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Grabbing the bull by the horns!
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