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  • #9,521
  • Jan 26, 2010 4:42pm Jan 26, 2010 4:42pm
Quoting strat
But you told me you traded H4 in which case why didn't you protect your profits above the Jan 24 midnight BUOB and then go long?
I trade dailys too, I trade the 4 hour bars that coincide with Japan, London and US opens too as often I have found they can get you a bit earlier to a move. I have found that some 4 hour bars like on my chart between 7pm GMT and 11pm often give small trading ranges and form IBs. I found after testing these bars are not as reliable to trade from as bars that coincide with the major financial centre opens.

I have slightly different bar close times I think to oher peeps here as I dont have a BUOB on my 4 hour chart at that time. But I count break even as a win as not losing money on trade is as important as winning
  • #9,522
  • Jan 26, 2010 4:51pm Jan 26, 2010 4:51pm
Quoting haircut
Is there a way of changing my bar closes from midnight in the UK to 10 pm (new york close) or do I need to find a broker who's bars close at the required time
I think most people on this thread use metatrader for charting purposes and have their broker seperate. On my metatrader feed the day close at 11pm
  • #9,523
  • Jan 26, 2010 4:59pm Jan 26, 2010 4:59pm
Congratulations to Cliftonarms and wife on the birth of healthy twin girls.
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,524
  • Jan 26, 2010 5:16pm Jan 26, 2010 5:16pm
Quoting strat
Congratulations to Cliftonarms and wife on the birth of healthy twin girls.
Yes indeed! Life will never be the same again.

Sleep Well!!
  • #9,525
  • Jan 26, 2010 5:46pm Jan 26, 2010 5:46pm
Congratulations.
  • #9,526
  • Jan 26, 2010 5:53pm Jan 26, 2010 5:53pm
Quoting strat
Congratulations to Cliftonarms and wife on the birth of healthy twin girls.
Congratulations brother. From one new dad to another, very glad to hear they are healthy and everyone is doing well.
  • #9,527
  • Jan 26, 2010 6:01pm Jan 26, 2010 6:01pm
  •  Sid
  • | Joined May 2009 | Status: Get wise or die laughing | 85 Posts
Congratulations Cliftonarms!! My guess is there will be quite a lot of intraday activity for you from now on - hope it will be mostly stress free though. ;-) All the best mate!
  • #9,528
  • Jan 26, 2010 6:52pm Jan 26, 2010 6:52pm
Quoting BaliuxXx
me
Why?
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,529
  • Jan 26, 2010 7:12pm Jan 26, 2010 7:12pm
Quoting Alexandra
Since someone mentioned the sin of the intraday chart, it appears USDJPY is pounding the last 3 4-hr bars, unable to penetrate the 50 fibo. EURJPY has undergone it's typical overshoot. Readers may be wise to tune in to possible actionable PA in those markets. USDJPY is the safer trade.
89 is hanging in there by the skin of it's teeth
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,530
  • Jan 26, 2010 7:29pm Jan 26, 2010 7:29pm
Quoting Jideck
Hi Alexandrahttp://cdn.forexfactory.com/images/icons/icon7.gif

You are quite right here, EURJPY got me burned this time, and it was not just an overshoot but landslide for me and it happened so quickly.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
You are quite right here, EURJPY got me burned this time, and it was not just an overshoot but landslide for me and it happened so quickly.

But why and how? There was NO PA to take a long position.

Plus, didn’t you UNDERSTAND these posts?

Post #9412

“”There IS cause for concern on the technicals.

Yesterday’s (Jan 21) drive down to support was different to the previous drives.

Both Nov 26 and Dec 17 bars to support were driven back by the buyers showing a strong defence of PRICE at 126.80.

Yesterday, there were no buyers defending that PRICE which may have been adrenalin rush from Banana’s Bank speech yesterday.

We do have some defence of it today but it looks more like profit taking to me

While the BOSS and BIG BOSS are both at support, their outlook is not that good.””

Post #9412

“”Banana’s speech yesterday was a surprise which caught everyone off guard and clearly was never factored into PRICE. We need to see how the big boys shake this out before doing anything else.””

Post #9426

“”I agree with Strat that the downward pressure is much greater this go round. Holding 127 is a nice start, but the close remains concerning.””
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,531
  • Jan 26, 2010 7:32pm Jan 26, 2010 7:32pm
Quoting Jideck
Hi Strathttp://cdn.forexfactory.com/images/icons/icon7.gif

This was a good case and is still a good case of analysing and waiting. I personally do not trade this pair but it is good to observe and see what other people respond too. Once it has been posted on the thread I was tempted to enter however it just did not feel right as it was not something that I have watched or analysed before.

I think that the own stuff is much better when observed and entered.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck...
ALWAYS and ONLY trade your own analysis - not those of other traders.
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,532
  • Jan 26, 2010 7:36pm Jan 26, 2010 7:36pm
Quoting Jideck
Hi Marcushttp://cdn.forexfactory.com/images/icons/icon7.gif

This pair is is in sort of a coil and wedge as I see it , so waiting for a breakout would seem reasonble now.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
""so waiting for a breakout would seem reasonable now.""


Why? How? Why not next week? next month? next year?

Still in a 19 week range!
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,533
  • Jan 26, 2010 7:38pm Jan 26, 2010 7:38pm
Quoting zoogle
If it's of any psychological help, i too had my mud hut slide away through my SL.
Trade without PA and that's what you get!

Next time BUILD on FOUNDATIONS!
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,534
  • Edited 7:58pm Jan 26, 2010 7:42pm | Edited 7:58pm
Quoting strat
89 is hanging in there by the skin of it's teeth
Yes, honestly, a 50 percent retracement would be quite supportive given my predisposition, especially early in a trend change, if that's what it is. Perhaps the BOJ will not allow the 2/3's, but even that should prove tradable.

In sum though, unless one is set on risk taking, why not find a better set of charts from which to trade? The confluence at the 1/3 and the recent prior high should have held things....it allowed some quick profit, but, honestly, I thought things were ready to roll from there. Perhaps the all-knowing market was, indeed, caught a bit off guard. Time will tell. As I said previously I am still inclined short Yen across the board on supportive PA with the mother ship above 89.

Note the need for supportive PA, as Strat says above. As many learned last week, there is no place for random positions no matter how strong the conviction. It's still a technical thread.
  • #9,535
  • Jan 26, 2010 7:43pm Jan 26, 2010 7:43pm
Quoting hcristea
I'm continuing with the update for my trade: LONG USDCAD @1.0359 and initial SL at 1.0220.

Today's candle broke above the 1.0600 psycho and almost reached the major resistance at 1.0700. I've moved my SL under the low of today's candle.

This is to protect the profit in case that tomorrow the bears will make a strong move as the bulls were rejected by the major resistance at 1.0700. We are still in the high risk zone. The downtrend is still in effect and might continue.
Today's candle broke above the 1.0600 psycho and almost reached the major resistance at 1.0700. I've moved my SL under the low of today's candle.

This is to protect the profit in case that tomorrow the bears will make a strong move as the bulls were rejected by the major resistance at 1.0700. We are still in the high risk zone. The downtrend is still in effect and might continue.

Very good - couldn't do any better myself!
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,536
  • Jan 26, 2010 7:45pm Jan 26, 2010 7:45pm
Quoting el_duende
I trade dailys too, I trade the 4 hour bars that coincide with Japan, London and US opens too as often I have found they can get you a bit earlier to a move. I have found that some 4 hour bars like on my chart between 7pm GMT and 11pm often give small trading ranges and form IBs. I found after testing these bars are not as reliable to trade from as bars that coincide with the major financial centre opens.

I have slightly different bar close times I think to oher peeps here as I dont have a BUOB on my 4 hour chart at that time....
But I count break even as a win as not losing money on trade is as important as winning

It is in the face of a LOSS but NOT in the face of a winning trade and getting out scared.
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,537
  • Jan 26, 2010 7:48pm Jan 26, 2010 7:48pm
Great thread by Strat.

I have recenty moved into monthly TF trading and it is definately stress free except the drawdowns
  • #9,538
  • Jan 26, 2010 8:11pm Jan 26, 2010 8:11pm
Quote
Hi Alexandrahttp://cdn.forexfactory.com/images/icons/icon7.gif

You are quite right here, EURJPY got me burned this time, and it was not just an overshoot but landslide for me and it happened so quickly.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck

oops...but now i think all JPY crosses are looking good for a swing.

I am long on eur/jpy, gby/jpy, aud/jpy, nzp/jpy and usd/jpy.

Looking for a 300-500 pips upside swing in next few days.
  • #9,539
  • Jan 26, 2010 8:42pm Jan 26, 2010 8:42pm
Quoting strat
You are quite right here, EURJPY got me burned this time, and it was not just an overshoot but landslide for me and it happened so quickly.

But why and how? There was NO PA to take a long position.

Plus, didn’t you UNDERSTAND these posts?

Post #9412

“”There IS cause for concern on the technicals....
Hi Strathttp://cdn.forexfactory.com/images/icons/icon6.gif

Yes you are right, no PA. It was a mistake on my part and my wife already gave me bashing!

I have made an entry in my trading journal that this is a test and it did go against my entry, the comments on the pair were attached with this trade too so in the end I have now good material to compare also there was a very small value attached to it so I have not suffered any substantial damage here.

This is not a pair I normally trade, no excuses,made a mistake and moved along.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #9,540
  • Jan 26, 2010 8:51pm Jan 26, 2010 8:51pm
Quoting strat
""so waiting for a breakout would seem reasonable now.""


Why? How? Why not next week? next month? next year?

Still in a 19 week range!
Hi Strathttp://cdn.forexfactory.com/images/icons/icon12.gif

This is what I see from the attached chart, maybe I was out of depth here to give an opinion. I do not trade this pair.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
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