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  • #12,601
  • Jul 15, 2009 3:03am Jul 15, 2009 3:03am
Dear all,

Which is the best entry for H1 breakout (for short in this example)?

1. The orignal S/R Level (L1)
2. Last hourly close (L2)
3. The low of the last H1 bar with offset (L3)

Any comment? Thanks.

Cheers,
Attached Image
  • #12,602
  • Jul 15, 2009 3:22am Jul 15, 2009 3:22am
Quoting kk007
Dear all,

Which is the best entry for H1 breakout (for short in this example)?

1. The orignal S/R Level (L1)
2. Last hourly close (L2)
3. The low of the last H1 bar with offset (L3)
4. A pull back to the S/R level and either an aggressive touch entry or some other confirmation of a resumed down move.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #12,603
  • Jul 15, 2009 3:27am Jul 15, 2009 3:27am
Quoting chazlanning
Any takers??
Greetings,
I have an eye on this since july10 (i have been expecting it to stall around this area).
i'll probably wait for further weakness, before i take this.
just mho.
  • #12,604
  • Jul 15, 2009 3:28am Jul 15, 2009 3:28am
Quoting kk007
Dear all,
Which is the best entry for H1 breakout (for short in this example)?
1. The orignal S/R Level (L1)
2. Last hourly close (L2)
3. The low of the last H1 bar with offset (L3)
Any comment? Thanks.
Cheers,
kk007,
best entry for what criteria?
profit-wise, of course L1.


EDIT:
Quote
4. A pull back to the S/R level and either an aggressive touch entry or some other confirmation of a resumed down move.
Thexder,
Good point.
  • #12,605
  • Jul 15, 2009 3:42am Jul 15, 2009 3:42am
Thanks Thexder and Supreme,

Sounds there is an agreement to enter at L1, although with a suggestion for confirmation.

Let me mark in down in my notebook.

Cheers.
  • #12,606
  • Jul 15, 2009 3:45am Jul 15, 2009 3:45am
Quoting kk007
Dear all,

Which is the best entry for H1 breakout (for short in this example)?

1. The orignal S/R Level (L1)
2. Last hourly close (L2)
3. The low of the last H1 bar with offset (L3)

Any comment? Thanks.

Cheers,
I'd be looking for a 5m resistance level close to or above the pivot of the previous hour.
  • #12,607
  • Jul 15, 2009 3:54am Jul 15, 2009 3:54am
Quoting medici
I'd be looking for a 5m resistance level close to or above the pivot of the previous hour.
Yes. Look at the LTF is a good idea.. but what is the pivot of the last hour??
  • #12,608
  • Jul 15, 2009 4:08am Jul 15, 2009 4:08am
Quoting kk007
Yes. Look at the LTF is a good idea.. but what is the pivot of the last hour??
(high+low+close)/3 or a 1 period SMA of HLC/3 shifted one step to the right.
  • #12,609
  • Jul 15, 2009 4:14am Jul 15, 2009 4:14am
Quoting medici
(high+low+close)/3 or a 1 period SMA of HLC/3 shifted one step to the right.
Thanks. Perhaps this works, but I don't use pivot personally.

I think my final decision is perhaps to play safe and look for the pullback/S->R in the LTF to enter.
  • #12,610
  • Jul 15, 2009 4:21am Jul 15, 2009 4:21am
Quoting kk007
Thanks. Perhaps this works, but I don't use pivot personally.

I think my final decision is perhaps to play safe and look for the pullback/S->R in the LTF to enter.
Fine, but statistically speaking, the rate almost always retraces to the pivot. Put that MA on a chart, and you'll see that the MA line cuts almost all bars/candles.
  • #12,611
  • Jul 15, 2009 4:46am Jul 15, 2009 4:46am
Quoting medici
Fine, but statistically speaking, the rate almost always retraces to the pivot. Put that MA on a chart, and you'll see that the MA line cuts almost all bars/candles.
"the rate almost always retraces to the pivot" interesting ... thanks...

It is not surprising for a MA made of HLC/3 should cut almost all bars/candle if the MA period is small.
  • #12,612
  • Jul 15, 2009 5:10am Jul 15, 2009 5:10am
anyone thinking of short AUS/USD?
  • #12,613
  • Jul 15, 2009 5:10am Jul 15, 2009 5:10am
Quoting kk007

It is not surprising for a MA made of HLC/3 should cut almost all bars/candle if the MA period is small.
Perhaps not, but what may be a bit surprising is that the rate often retraces to somewhere close to the pivot.
  • #12,614
  • Jul 15, 2009 6:32am Jul 15, 2009 6:32am
I am short AudUsd

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  • #12,615
  • Jul 15, 2009 7:59am Jul 15, 2009 7:59am
Eur-usd short at 1.4130. What do you guys think?
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  • #12,616
  • Jul 15, 2009 9:00am Jul 15, 2009 9:00am
Quoting Siam
Morning,
watching both the Geppy this morning it's fallen below a major diagonal line and has been working it's way back up there, looking for a short trade at some point.

Euro is being pushed into a corner there are more pips to be made if it breaks to the downside (hopefully).
On the upside 14170 is a hurdle and might not be worth the risk.

Just took the short on gbp/jpy 15395
  • #12,617
  • Jul 15, 2009 9:34am Jul 15, 2009 9:34am
Quoting OGW
Eur-usd short at 1.4130. What do you guys think?
OGW,

Why is your fib plotted only down to 6/8/2009 lows and not the true recent daily low 1.375 (6/15-6/16/09)?

I like S&R, fib & trend line confluence but I'm not sure I see it with this pair yet.
  • #12,618
  • Jul 15, 2009 10:00am Jul 15, 2009 10:00am
Quoting RedCabbage
Sorry for the lack of charts recently. Here's a nice set up, Dingo has pointed out that 13170 is also the 127 of a butterfly.
Out for the price of a coffee.

Good confirmation at this level but it was countertrend and lacking market consensus from the reported offers at 13185.
  • #12,619
  • Jul 15, 2009 10:36am Jul 15, 2009 10:36am
Bad day today.

Stp taken right out.
  • #12,620
  • Jul 15, 2009 10:43am Jul 15, 2009 10:43am
Alright I got hit on my stops ...

Seems like the novice trader beat me today in one of the 30 percent losses...

Still looking to short at a higher price
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