the gap is not that much. maybe u can wait for matching lows? for breakout?
its your call buddy.
james16 Chart Thread
- #51,561
- Jan 14, 2010 12:11pm Jan 14, 2010 12:11pm
...hope it closes as it is now
Just my $.02........
Nathan
- #51,563
- Jan 14, 2010 12:21pm Jan 14, 2010 12:21pm
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
4hr BEOB forming on USDCHF right now. bouncing off a weekly PPZ.... very similar to the situation EURUSD is in right now. Pick one!
Many choose unhappiness over uncertainty.
yeah i know that its not an ideal pinbar, for now i will wait... will see what too do soon... patience
Not only the nice round number but it's also a very strong area just above it, which was tested and retested in the last months. After it was at 149.499, very fast it went down making a PIN on 1H graph as well. I attached the photo.
On 4H it looks also good so if your target is around the low of the previous bar, prior the PIN, it's a good probability for your trade to hit the TP. I will enter on it also.
Good luck!
- #51,565
- Jan 14, 2010 12:35pm Jan 14, 2010 12:35pm
Investor7 - Good that You have found that 2d PA. I'm a rookie but I think that 2d would be more important, because it's higher TF. Maybe it would go up a bit like 1h,4h are showing and than turn down for longer movement.
Dan Gilbert - Thank You for your opinion
Has to be monitored reaaaally cautiously....
That which does not kill me, makes me stronger.
- #51,566
- Jan 14, 2010 12:44pm Jan 14, 2010 12:44pm
For anyone thinking of playing this (assuming it closes as a pin) I would definitely be taking profits (if it breaks tomorrow) or managing VERY tight around the 147.05 - 147.25 area. These pins in consolidation are much trickier to play and you have to be quick on your feet.
Just my $.02........
Nathan
Thanks Dbrman.....
That which does not kill me, makes me stronger.
For anyone thinking of playing this (assuming it closes as a pin) I would definitely be taking profits (if it breaks tomorrow) or managing VERY tight around the 147.05 - 147.25 area. These pins in consolidation are much trickier to play and you have to be quick on your feet.
Just my $.02........
Nathan
seems that for every good trade i make on it, i then soon make two bad ... happened a lot of times in the past, i dont know why this pair doesnt like me
- #51,569
- Jan 14, 2010 1:37pm Jan 14, 2010 1:37pm
if u havent yet...
within MarketWatch, right-click & u will see a list. click/check 'Show All'. doing this will 'unleash' all the tradable instruments.
I was wondering how it was that I couldn't see oil on my FXPro demo.
I've learned something new today
The weekly pin bar in gold was CT last month. I suppose one needs to look at each trade based on its own particular circumstances. The CT weekly pin in gold was relatively big compared to the bullish run up.
Counter Trending? ie: Going against the trend.... that's my guess....
- #51,572
- Jan 14, 2010 3:04pm Jan 14, 2010 3:04pm
Though i don't usually post much here but really love to share this chart with the family,this is just my own thought process on gold. H&S with double top @1145.00 (inside bar confirmation).price may be heading for 1085.00.
. H&S with double top @1145.00 (inside bar confirmation).price may be heading for 1085.00. 
Respect a man, and he will do all the more.
- #51,574
- Jan 14, 2010 3:27pm Jan 14, 2010 3:27pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
Though i don't usually post much here but really love to share this chart with the family,this is just my own thought process on gold
K.I.S.S.
- #51,575
- Jan 14, 2010 3:47pm Jan 14, 2010 3:47pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
I got in last night at the touch of the trendline and was up by 30 something pips at one time but stopped out at BE early this morning. I believe that this is the PA I have been waiting for on GBPCHF. Price has already broken this pin but I am not in yet. I am going to sell at the touch of the 618 retrace (if it gets there 1.6650). Risking 32 pips. If price does not get to 1.6650, I will sell at the break of the 4hr pin again.
K.I.S.S.
K.I.S.S.
- #51,576
- Jan 14, 2010 3:54pm Jan 14, 2010 3:54pm
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
I got in last night at the touch of the trendline and was up by 30 something pips at one time but stopped out at BE early this morning. I believe that this is the PA I have been waiting for on GBPCHF. Price has already broken this pin but I am not in yet. I am going to sell at the touch of the 618 retrace (if it gets there 1.6650). Risking 32 pips. If price does not get to 1.6650, I will sell at the break of the 4hr pin again.
K.I.S.S.
Many choose unhappiness over uncertainty.
- #51,577
- Jan 14, 2010 4:11pm Jan 14, 2010 4:11pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
I kept anticipating that flag pattern to make a significant break so I could set a limit order, but it didn't...... no trade allowed.
We close today on daily as a crappy looking pin with a short nose and long body, I4B tomorrow on daily and then Monday we break south. K.I.S.S.
- #51,578
- Jan 14, 2010 5:03pm Jan 14, 2010 5:03pm
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
I just keep thinking about the overall longer term trend on GC and GU. Heading down from this level is still high probability in my estimation. Here is a prediction for what it's worth.
K.I.S.S.
EDIT: my complete miss of the daily BEOB on EURGBP was a good opportunity that I failed to trade...
Many choose unhappiness over uncertainty.
- #51,579
- Jan 14, 2010 5:24pm Jan 14, 2010 5:24pm
Jewel of a chart Urchman! Thanks for the post and don't be a stranger.
K.I.S.S.
.
Respect a man, and he will do all the more.