I like gbp/usd for a LOB.
usd/cad is also moving for another swing down on the h1. however, wrong session and daily support at 1.4000. So not gonna take usd/cad.
I like gbp/usd for a LOB.
usd/cad is also moving for another swing down on the h1. however, wrong session and daily support at 1.4000. So not gonna take usd/cad.
what do you guys think?
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I am also looking at GBP/USD once this current pullback is over, just the news in 1.5hrs...
Also looking at GBP/JPY - in a channel at the moment and at top of that channel, has already broken out and going for the b-P-c right now, so who knows.
I am also looking at GBP/USD once this current pullback is over, just the news in 1.5hrs...
Also looking at GBP/JPY - in a channel at the moment and at top of that channel, has already broken out and going for the b-P-c right now, so who knows.
USD/CAD, possibly later in NY session
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yeah, the news are also bothering me, gonna see if and when I get a signal and then manage it from there till the news.
hm, just pay attention to the 1.38 level, which is resistance. If you get an LOB you really wanna see big momentum going through that level, otherwise I would cancel it pretty fast.
Same goes with eur/jpy 124.80 level (double bottom on h4).
Anyways, no real A+ setups out there right now in my opinion.
hm, just pay attention to the 1.38 level, which is resistance. If you get an LOB you really wanna see big momentum going through that level, otherwise I would cancel it pretty fast.
Same goes with eur/jpy 124.80 level (double bottom on h4).
Anyways, no real A+ setups out there right now in my opinion.
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Custos,
thanks for the confirmation, I was looking at it and thought to myself this morning, it that a double bottom on EJ or not - I am still doubting some of the patterns - mostly the H/S, D/B and those, the channels, triangles etc are easier...
At least I got the Resistance levels right, on EJ the 61.8%fib (4hr : 3-4 Feb 10) is still lying in wait too, sandwich between 12450 and 12480 - or would you discount this Fib level now? I do think it does create a very tuff 30pip resistance level
thanks for the confirmation, I was looking at it and thought to myself this morning, it that a double bottom on EJ or not - I am still doubting some of the patterns - mostly the H/S, D/B and those, the channels, triangles etc are easier...
At least I got the Resistance levels right, on EJ the 61.8%fib (4hr : 3-4 Feb 10) is still lying in wait too, sandwich between 12450 and 12480 - or would you discount this Fib level now? I do think it does create a very tuff 30pip resistance level
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Personally I think fib levels are only useful in conjunction with S/R levels. Just because price is sitting at 61.8% fib doesn't mean a lot.
But that is just my opinion. Cause if I were also looking at every single fib level, I wouldn't be able to trade at all. (Analysis Paralysis)
Personally I think fib levels are only useful in conjunction with S/R levels. Just because price is sitting at 61.8% fib doesn't mean a lot.
But that is just my opinion. Cause if I were also looking at every single fib level, I wouldn't be able to trade at all. (Analysis Paralysis)
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Thanks for you valued opinion - I find that I am taking my swing entries in the right area, but then when price starts working thru the S/R levels, I suffer from analysis paralysis and opt out instead of just allowing the market to work thru its paces and get to my drawn plan... Some work to be done on the pshyc side of things -i think...
hm, just pay attention to the 1.38 level, which is resistance. If you get an LOB you really wanna see big momentum going through that level, otherwise I would cancel it pretty fast.
Same goes with eur/jpy 124.80 level (double bottom on h4).
Anyways, no real A+ setups out there right now in my opinion.
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5 minutes to end of LOB time.....then cancellation...thanks for pointing those out..i already factored them in.
Personally I think fib levels are only useful in conjunction with S/R levels. Just because price is sitting at 61.8% fib doesn't mean a lot.
But that is just my opinion. Cause if I were also looking at every single fib level, I wouldn't be able to trade at all. (Analysis Paralysis)
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This is also my problem with ELLIOT WAVE approach. You will be all over the place, seeing things that are not there, there, and was there.
Thanks for you valued opinion - I find that I am taking my swing entries in the right area, but then when price starts working thru the S/R levels, I suffer from analysis paralysis and opt out instead of just allowing the market to work thru its paces and get to my drawn plan... Some work to be done on the pshyc side of things -i think...
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another piece of advice: Plan first and then act. Plan out every single eventuality for the trade. Once you have finished your plan you stop analysing and just taking the trade according to your plan.
Problem is, if you plan the trade when you are already in it, your emotions will conflict with rational judgement.
Only if really unexpected things happen, or if your target is not hit by 1 to 5 pips, only then would I interfere with the plan. Otherwise just trade according to the plan.
By following these steps and dividing planning from acting, you will not suffer from analysis paralysis anymore during your trades.
This is also my problem with ELLIOT WAVE approach. You will be all over the place, seeing things that are not there, there, and was there.
Trading is difficult as it is: KEEP IT SIMPLE.
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I second that. I still remember my time when I used elliot wave theory. God, I think I spent hours or days to get the counting right, and in the end I still lost. It is a good theory, but not really practical for trading.
At least I never had any success with that method.
I second that. I still remember my time when I used elliot wave theory. God, I think I spent hours or days to get the counting right, and in the end I still lost. It is a good theory, but not really practical for trading.
At least I never had any success with that method.
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Thanks Custos and EnropyLAD,
I really appreciate your input - on the planning side I am doing well, it is in the acting out that the problem appears to be... Will work on that, even walk way if necessary
