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  • #3,581
  • Jun 4, 2009 5:03pm Jun 4, 2009 5:03pm
its not THE way but its MY way.....like i siad.....take the shackels of my feet so i can dance...

And nobody saw my mistake in my post.... we have short usd boss and big boss action around not long......anyway happy nfp yall.
  • #3,582
  • Jun 4, 2009 5:36pm Jun 4, 2009 5:36pm
Quoting Alexandra
I do like the look of the weekly USDJPY..will be alert for a breakout of the current triangle. E/J also of great interest again in here.
Hi Alexandra
I agree. I put my toe in the water with the inside bar on USDJPY today.
Some of the yen crosses look like they might be bull flags.
Lets see what they look like after NFP.

Nicola
  • #3,583
  • Jun 4, 2009 5:48pm Jun 4, 2009 5:48pm
Hello

I am happy to see a good retracement in GBP/CHF. It is touching the Daily 20 on my feed. I will be looking for PA to get involved in a long position around here.
  • #3,584
  • Jun 4, 2009 6:21pm Jun 4, 2009 6:21pm
Quoting pi piper
Hello

I am happy to see a good retracement in GBP/CHF. It is touching the Daily 20 on my feed. I will be looking for PA to get involved in a long position around here.
Have you checked the Boss and Big Boss?
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,585
  • Jun 4, 2009 6:31pm Jun 4, 2009 6:31pm
Quoting strat
Have you checked the Boss and Big Boss?

On the Boss I see what could be a Pin Bar forming. We are above the 20 and have been for 8 or 9 weeks and therefore it is pointing up. I see upward direction however we are below the 50 and it is pointing down.

On the Big Boss we are just way down from the 20 and the 50 is even further above.

What do you see?
  • #3,586
  • Jun 4, 2009 7:18pm Jun 4, 2009 7:18pm
Quoting pi piper
On the Boss I see what could be a Pin Bar forming....

We are above the 20 and have been for 8 or 9 weeks and therefore it is pointing up. I see upward direction however we are below the 50 and it is pointing down.

On the Big Boss we are just way down from the 20 and the 50 is even further above.
Let's pretend the week is over and the Boss bar is a doji (pin) as you suggest. Is it a bullish or a bearish bar? If it is bearish do we look for bullish price action on the worker? Additionally, how do we reconcile the price butting up against the 1.75 level and was support last Oct and Nov? Isn't it safer for price to be above the MAs on the Big Boss to look for bullish price action on the daily?
walt
  • #3,587
  • Jun 4, 2009 8:24pm Jun 4, 2009 8:24pm
Quoting waltwitham
Let's pretend the week is over and the Boss bar is a doji (pin) as you suggest. Is it a bullish or a bearish bar? If it is bearish do we look for bullish price action on the worker? Additionally, how do we reconcile the price butting up against the 1.75 level and was support last Oct and Nov? Isn't it safer for price to be above the MAs on the Big Boss to look for bullish price action on the daily?
walt
A pin or shooting star after an uptrend is a bearish PA when combined with overhead resistance etc. We want to be working with the BOSS not against him because the boss guides the worker. So if the boss is bearish I think we should look for bearish PA on the daily.
  • #3,588
  • Jun 4, 2009 8:57pm Jun 4, 2009 8:57pm
Sorry, I worded the question wrong. The question was whether pi thought that the current (thinkin it was gonna be a pin) bar was a bullish one or a bearish one. Wick was up and pi was looking to go long. I squinted really hard and that still didn't fix it, so I had to ask.
Thank you for the reply Naws.
ww
  • #3,589
  • Jun 4, 2009 9:49pm Jun 4, 2009 9:49pm
I'm new to this thread and these longer term TF's so I'm trying to learn. I understand we need to look at the bigger picture and hence using the Boss and Big Boss. Where I am confused is whats a good set up and whats not. Are we only looking for opportunities where the Boss and Big Boss MA's line up as well as the Worker?
  • #3,590
  • Jun 5, 2009 12:58am Jun 5, 2009 12:58am
Quoting pi piper
I'm new to this thread and these longer term TF's so I'm trying to learn. I understand we need to look at the bigger picture and hence using the Boss and Big Boss. Where I am confused is whats a good set up and whats not. Are we only looking for opportunities where the Boss and Big Boss MA's line up as well as the Worker?
pi piper,

I am new here also, but what i have learned so far tells me that we must look at the big boss first to analyze where the trend "big picture" is heading. In the case of this pair that would be Down!

Then once we know the direction of the overall trend and start drawing in the major S/R lines we may make our way down to the weekly and daily TF's to fine tune our analysis, I belive as strat has said earlier in this thread "Have you ever had a fight with your bosses BOSS?" Ive been watching this pair this week looking for the break out of the ascending triangle that has been forming. This setup has since failed and we are back into the ascending triangle, PA has showed us that price was rejected hard from the major resistance of 1.7600 and we are now trading below the 20 on the daily.

Boss is at 38.2 Fibo and forming a shooting star at the moment, same for the big boss.

I will not be looking at going long until we get a confirmed breakout above the 1.7600 level.
  • #3,591
  • Jun 5, 2009 1:30am Jun 5, 2009 1:30am
Quoting CrudeCraig
pi piper,

I am new here also, but what i have learned so far tells me that we must look at the big boss first to analyze where the trend "big picture" is heading. In the case of this pair that would be Down!

Then once we know the direction of the overall trend and start drawing in the major S/R lines we may make our way down to the weekly and daily TF's to fine tune our analysis, I belive as strat has said earlier in this thread "Have you ever had a fight with your bosses BOSS?" Ive been watching this pair this week looking for the break...
OK understood and Thanks. Aplogies for hijacking.
  • #3,592
  • Jun 5, 2009 4:01am Jun 5, 2009 4:01am
Quoting AstonDan
Dollar index found support off 78.50 level this week and yesterday we saw a strong BUEB taking out each of this week's opening prices.

Today is screaming indecision which is understandable with NFP tomorrow, so my reading of the majors is:

EURUSD seems to have hit resitance around the previous level from December last year and conversley, support for USDCHF.

Cable is shaping up today with a confirmed swing high and after its recent unabated bullish run, looks placed for a retracement - plus coupled with local elections today in the UK which...
If you put fibs on your dollar index you will see that we are sitting above the 61.8 fib of the big move. It has tested it twice and bounced to the pip on the lower time frames. Im watching closely to see if the dollar rallies here or continues the downward slide.
Nic
  • #3,593
  • Jun 5, 2009 6:00am Jun 5, 2009 6:00am
I'm still in stress after reading this thread...
Maybe I don't quite understand the method...
  • #3,594
  • Jun 5, 2009 7:44am Jun 5, 2009 7:44am
For those that don't believe trading is SIMPLE (used to be me years back!) and don't understand that it is US that makes it more complicated than it should be, please read Post # 32296 on Page 2154 of J16 thread.

So simple that an 11 year old can make money at it!
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,595
  • Jun 5, 2009 7:50am Jun 5, 2009 7:50am
Quoting strat
For those that don't believe trading is SIMPLE (used to be me years back!) and don't understand that it is US that makes it more complicated than it should be, please read Post # 32296 on Page 2154 of J16 thread.

So simple that an 11 year old can make money at it!
I know! I read that this morning and i've been kicking myself ever since.

I actually found it pretty inspiring.

  • #3,596
  • Jun 5, 2009 7:51am Jun 5, 2009 7:51am
In teaching our safe, low risk, stress free trading methods, we only recommend trades WITH the trend.

As you progress along The Path, you will learn how and when to take counter trend trades. To be successful and make money with counter trend trades, you have to be experienced, focused and disciplined.

Even with all this, you can come unstuck as James of J16 found out in his USDCAD counter trend trade - see Post # 32311 Page 2155.

The trend IS your friend!

15 YEARS OF PASR ON FOREX FACTORY!
  • #3,597
  • Jun 5, 2009 8:03am Jun 5, 2009 8:03am
Quoting AstonDan
I know! I read that this morning and i've been kicking myself ever since.

I actually found it pretty inspiring.

VERY inspiring, Dan. Here's me messing with momentum, cycles and momentum cycles when a young, innocent 11 years old kid can make money just trading WHAT HE SEES!

This is a HUGE lesson for all of us, me included. We have to let go of our preconceived ideas about trading, get rid of the baggage we have collected over the years and just trade WHAT WE SEE.

Everyone should print out this post and review it daily - having paid $thousands for tuition from "the experts", I can honestly say this IS priceless!
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,598
  • Jun 5, 2009 8:16am Jun 5, 2009 8:16am
Quoting strat
VERY inspiring, Dan. Here's me messing with momentum, cycles and momentum cycles when a young, innocent 11 years old kid can make money just trading WHAT HE SEES!

This is a HUGE lesson for all of us, me included. We have to let go of our preconceived ideas about trading, get rid of the baggage we have collected over the years and just trade WHAT WE SEE.

Everyone should print out this post and review it daily - having paid $thousands for tuition from "the experts", I can honestly say this IS priceless!
Look at who is making money in the markets. People trading SIMPLE methods. J16, J16 jr, Jacko, Clockwork, etc. Trading is so easy a Geico caveman can do it. Unfortunately our egos get the best of us way too often and we screw it up. I've been trading for almost 8 years and still have to tackle the gremlins and demons that make me want to outsmart the market.

I can throw out every book on fundies, technical analysis. They all mean squat to me at this point. PASR is all that is required. All I need at this point is Trading in the Zone and maybe some trading psych stuff from Ari Kiev, some Law of Attraction material and allowing myself at least 30 minutes each day to meditate and visualize what I want out of trading and life.

We strive for consistency. That is all. We don't need a 100% foolproof system. We just need something that is simple and that we can rely on day in day out, week in week out, etc. This business should be dry and boring if you are doing it right. My goal at some point is to be able to answer the "What do you do for a living?" question with the following response: "I spend about 10 minutes a day drawing some lines and pushing some buttons on my computer"
  • #3,599
  • Jun 5, 2009 8:52am Jun 5, 2009 8:52am
Quoting Life of Pi_p
Look at who is making money in the markets....
Very well said, Pi man.

I find it really amazing that we as adults put so many obstacles in front of us when we are trading, when all we should really do is forget everything and just trade what we see. This more than ever convinces me that our psychology in trading is the greatest evil we have to overcome. After all, trading is just merely a set of rules, it is what is in our head that prevents us from following the rules.

Oh to be young and innocent again!
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,600
  • Jun 5, 2009 8:59am Jun 5, 2009 8:59am
Just seen the chart too - very interesting. Like people say though, entries are easy, it's the in-trade management that is hard for people to deal with. There are a few positions on that chart that you'd have had to sit thru 3 day retracements although I have an idea which ones he did take - have most people got the minerals for that I ask?

What are people's prefrences on display? I'm thinking of going back to bars and ditching the candles for a trail. With candles I always end up concentrating on the body and pretty much dismiss the wicks - which means I'm not seeing the full picture clearly.

Dan, you use bar charts do you not? Have you evere been a candles man? I know Strat is a candles man - he likes the wick because it allows him to get on everyone elses wick he he (Joko)
Trade less and become more profitable!
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