EU 1 Hour chart. Anticipating a break at 1.27338. Hindsight is down from Daily, 4 hour, and 1 hour confluence. Entry was based on 1 minute.
http://img844.imageshack.us/img844/1958/eu4.png
http://img844.imageshack.us/img844/1958/eu4.png
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DislikedHello,
Here are 2 yearly charts. True they aren't different from 5 min. ones, with some flying buddha's failing but the succeeding ones growing into huge legs.Ignored
DislikedIt's possible the yen pairs may retrace upto 50% of the weekly pin bars before they attempt another up move. Even though the USDJPY and EURJPY are in a downtrend the weekly pin bars and the fact they are FBs with the threat of BOJ intervention makes me very hesitant about taking short positions. I may wait until the weekly pin bars are broken to the downside before I think about shorting these pairs.
Again, just my opinion for what it's worth.Ignored
DislikedPlease , where can i find the flying buddha's failing explanation ? in wich page/post ?
Thx!Ignored
DislikedI think a failed FB must be a FB that was (or could have been) entered and then was stopped out (SL hit at opposite side of FB) .
Also, i would like to add that it has been mentioned several times by OP (Graeme) that there are MANY signals which may be considered, not just FB, for example. . . engulphing bar, inside bars, pin bars etc. . . what is important is to recognize a 'signal' that your intended direction (gained by 'hindsight of larger TF) is being favoured (by price action on lower TF) and then to act upon that signal with the least amount...Ignored
DislikedSorry , it was a copy-paste error.
I wanted to ask where I could find the explanation of FB.Ignored
DislikedIt's possible the yen pairs may retrace upto 50% of the weekly pin bars before they attempt another up move. Even though the USDJPY and EURJPY are in a downtrend the weekly pin bars and the fact they are FBs with the threat of BOJ intervention makes me very hesitant about taking short positions. I may wait until the weekly pin bars are broken to the downside before I think about shorting these pairs.
Again, just my opinion for what it's worth.Ignored
DislikedI know every one is waiting for Graeme's posts so I thought I'd show you how one might apply what Graeme has taught us.
Ok, so we start by determining the last weekly FB on the EURUSD. If you go back a few weeks you'll notice the last weekly FB was the week of 2 Aug to 6 Aug. Also notice this was an FB above the EMAs so we would be looking for trading opportunities on the short side. Now let's break this down into a real simple entry that every one can understand and combine it with a small enough time frame that almost every one can trade with...Ignored
DislikedSorry , it was a copy-paste error.
I wanted to ask where I could find the explanation of FB.Ignored
DislikedGood evening, Dave
Apologies. You are correct, I should have clearly indicated that last week candle is a FB.
My analysis still remains the same and I too will look for breakouts in either direction.
GraemeIgnored
DislikedHi jdcabona,
You will find the explanations on FB from this page onwards.
http://www.forexfactory.com/showthre...83#post3947683
However, a friendly advise to new readers would be to read the thread from the start so you will reap the full benefits of the lessons within. Graeme has put in a lot of hard work in this thread and reveal much. It is now the responsibility of readers to educate themselves from the material within and it starts from reading it from page one. There are no shortcuts .
BakIgnored
DislikedIn spite of daily and 4 hr candle. Not sure why; has this happened to you?
I have couple of long positions at 1.2735 with 10 pips SL
Will see
Regards,
TSIgnored
DislikedClosed all longs at BE. Being stubborn like this I missed putting on Short positions, in spite of seeing 3 wicks in 5 min chart.
Well, it's going to take a while to learn to be nimble !!!
TradeStarIgnored
DislikedOne of the thread members has posted a link to a file containing the main posts to cut out the small talk. Its a few pages back. If anyone got the link handy could you post please.Ignored
DislikedTS,
Originally indicated hindsight Long. Current flow is indicating short so going with the near term trend as soldiers.
9 buy losses
10 sell losses
6 sell positions since 1.2741
5 currently surviving @ BE stacking
1 closed at +5 pips to grow equity when stall was noted at 1.2714
Nearing net recovered from starting capital
I have setup 2 instances from IBFX; trading one as short only and one as long only to get around the non-hedging issue and to assess if I am similar to Joe in that Short positions fare better than Long positions/mentality.
RDWatkins
edit:...Ignored
Dislikedhere you`ll find them:
http://www.forexfactory.com/showpost...postcount=1527
Kind Regards and thanks to flyer for his work
Forex37Ignored