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4H Box Breakout

  • #4,241
  • Sep 27, 2009 6:07pm Sep 27, 2009 6:07pm
@yonnie - I fully agree with you about the weekly range
Just for today, do not worry...
  • #4,242
  • Sep 27, 2009 6:15pm Sep 27, 2009 6:15pm
Quoting faxfxfx
There are just under 40 minutes to go before the 4H box is completed. This is one large box already 139.71 to 143.13 plus buffers and spreads.

Looks like 350 pips already. I find myself in two minds whether to trade this setup this week or not?

How are you guys looking at this?

@tarquin1 - to answer your question, it is not a bank holiday in the UK
I prefer not to trade this week. From 'the' previous experience, it seems like, if the box is more than 250pips, the chances for the trades to hit bot SL is very-very high.

But... like Yonnie said "this week might be a BIG FAT move"..!

(just demo-ing this week)
  • #4,243
  • Sep 27, 2009 6:21pm Sep 27, 2009 6:21pm
Quoting kepalalutut
I prefer not to trade this week. From 'the' previous experience, it seems like, if the box is more than 250pips, the chances for the trades to hit bot SL is very-very high.

But... like Yonnie said "this week might be a BIG FAT move"..!

(just demo-ing this week)
For those of you who feel this week is going to be one of those ranging buffer high bounce buffer low weeks, buy on the low, and sell on the high, otherwise, trade as normal.
  • #4,244
  • Sep 27, 2009 7:16pm Sep 27, 2009 7:16pm
I think that some fundamental analysis is needed here. Who or what is moving this market?

...The YEN gained a foothold on the back of comments made by Mr. Yen(Former MoF Chairman Eisuke Sakakibara for you younger readers) said "Mr. Fujii probably doesn't think the current (dollar-yen) levels are abnormal. Even if USD/JPY drops below 90.00, he probably wouldn't find it abnormal. Should the pair sink below 80.00, then he would likely take that as something abnormal." Mr. Sakakibara, who was known for his ability to move markets in the past, looks like he still likes to “sing” hen the spotlight is on him...
  • #4,245
  • Sep 27, 2009 8:01pm Sep 27, 2009 8:01pm
Quoting andante9
Attachment

You'll have to get clearance from Bonita. . .then we can talk
Bonita nixed the idea, Andante. It's probably for the better . . . I wouldn't want to break the two of you up.
Greetings from Guanajuato, Mexico
  • #4,246
  • Sep 27, 2009 8:03pm Sep 27, 2009 8:03pm
Quoting penfield
...The YEN gained a foothold on the back of comments made by Mr. Yen
Please, Penfield, just call me Yen. When people say Mr. Yen, I think they're talking about my Dad.
Greetings from Guanajuato, Mexico
  • #4,247
  • Edited 8:40pm Sep 27, 2009 8:22pm | Edited 8:40pm
I will probably set a buy pending order today before UK open time because base on 4 hour and 1 hour stochatic chart (14,3,3) it is over Sell. Some more, the candle is hit the resistance on the daily chart. So, techically it would be bounce back.
  • #4,248
  • Sep 27, 2009 8:29pm Sep 27, 2009 8:29pm
Quoting pips info
I will probably set a buy pending order today before UK open time because base on 4 hour and 1 hour stochatic chart (14,3,3) it is over brought. Some more, the candle is hit the resistance on the daily chart. So, techically it would be bounce back.
I'm assuming you actually meant "support" rather than resistance? If so, I would certainly agree with you.
Greetings from Guanajuato, Mexico
  • #4,249
  • Sep 27, 2009 8:29pm Sep 27, 2009 8:29pm
Quoting penfield

I think that some fundamental analysis is needed here. Who or what is moving this market?
It must be Mr. Yen's buritto
  • #4,250
  • Sep 27, 2009 8:31pm Sep 27, 2009 8:31pm
my my, got up just to have a drink and look at our weekly 4H candle and this. i expected the fall to continue, but this reminds me of last year August 6-8.
i would not go long.
  • #4,251
  • Sep 27, 2009 8:31pm Sep 27, 2009 8:31pm
Quoting shiko
It must be Mr. Yen's buritto
Shiko, that was so disgusting I think you've actually stooped to my level.
Greetings from Guanajuato, Mexico
  • #4,252
  • Sep 27, 2009 8:38pm Sep 27, 2009 8:38pm
Quoting yen44x
Shiko, that was so disgusting I think you've actually stooped to my level.

well come back Yen

but actually, do not go long buddy, buritto or not such move means something i entered short small position at 141.19, not according to Ace. according to Ace no trading. this one is a crazy box.
  • #4,253
  • Sep 27, 2009 8:58pm Sep 27, 2009 8:58pm
Quoting yen44x
I'm assuming you actually meant "support" rather than resistance? If so, I would certainly agree with you.
Sorry, I mean over sell and not over buy because I think it is on down trend now. So, I think it could be bounce back for some time before it come down and break the resistance again...
  • #4,254
  • Sep 27, 2009 9:15pm Sep 27, 2009 9:15pm
i will also trade the reversal (similar to nick's method). but will target TP1 or TP1.5 as it's a counter-trend trade.

Quoting pips info
Sorry, I mean over sell and not over buy because I think it is on down trend now. So, I think it could be bounce back for some time before it come down and break the resistance again...
  • #4,255
  • Sep 27, 2009 9:18pm Sep 27, 2009 9:18pm
Quoting dannywmk
i will also trade the reversal (similar to nick's method). but will target TP1 or TP1.5 as it's a counter-trend trade.
reversal ? this looks like a big train.
  • #4,256
  • Sep 27, 2009 9:32pm Sep 27, 2009 9:32pm
Quoting dannywmk
i will also trade the reversal (similar to nick's method). but will target TP1 or TP1.5 as it's a counter-trend trade.
My target will be 143.00, about previous support line, TP1.
  • #4,257
  • Sep 27, 2009 9:55pm Sep 27, 2009 9:55pm
after a crazy run, i guess there would be a big correction. That's a counter-trend trade but i will lock the trade once it reaches 40 pips using DIBS method. (I will also enter trade according to breakout of the 4hr IB)

Quoting shiko
reversal ? this looks like a big train.
  • #4,258
  • Sep 27, 2009 10:03pm Sep 27, 2009 10:03pm
where are you ACE???
  • #4,259
  • Sep 27, 2009 10:07pm Sep 27, 2009 10:07pm
He Split. Adios, Hasta la Vista



Quoting mik1974
where are you ACE???
  • #4,260
  • Sep 27, 2009 10:08pm Sep 27, 2009 10:08pm
Quoting shiko
well come back Yen
Uh, thanks, Shiko, but you're the one on vacation. I'm still busy here in Mexico tending to business.

When are you back from vacation, and how will we know the difference?
Greetings from Guanajuato, Mexico
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