DislikedRed. eurusd. sold. rejection @ S/R level. late Friday trade - scalping
bring it...Ignored
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- #3,961
- Nov 12, 2010 11:20am Nov 12, 2010 11:20am
- Joined Mar 2009 | Status: Saper Vedere | 1,431 Posts
- #3,962
- Nov 12, 2010 11:30am Nov 12, 2010 11:30am
I hate having to sleep. Whats worse than sleeping. Is making a great analysis, setting up pending orders, and deleting them before you do to bed. I wish I could have traded the last 12 hours, Lots of Opportunities. I hope everyone earned their pips that weeek.. Next week should be some ranges offering lots of opportunities. Enjoy the weekend. Be back on Sunday AUD opend
Supply zone on EU worked Well. Did anyone get it ? haha. I wish I did!
Supply zone on EU worked Well. Did anyone get it ? haha. I wish I did!
- #3,963
- Nov 12, 2010 11:35am Nov 12, 2010 11:35am
- Joined Mar 2009 | Status: Saper Vedere | 1,431 Posts
- #3,964
- Nov 12, 2010 11:40am Nov 12, 2010 11:40am
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
4hr Swissy Red...
yes, should be a sell
- #3,965
- Nov 12, 2010 11:42am Nov 12, 2010 11:42am
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
- #3,967
- Nov 13, 2010 12:56pm Nov 13, 2010 12:56pm
- | Commercial User | Joined Feb 2010 | 14,361 Posts
Take a look from a daily chart perspective. Looking at a previous range we had a nice breakout to the upside ( one of the reasons why I called bullish targets was a breakout trading perspective.) and on a daily we havent had any range since.
In the top right corner we could see the newest range with a false low-momentum breakout to the upside which has clearly made a swing high point.
We should have had a valid BPC pattern before continuing north but bull failed there. Moreover, we got a 3 black crows formationwhich indicates a powerful selling pressure.
Notice the spinning top on a daily.
it indicates an unknown bias, confusion and no clear direction.
We should be careful on an intraday perspective and wait for more confirmation of our next move.
If we look at the weekly chart there is a BIG candle which could have been a momentum candle but the sellers failed to close below 3600.
In the top right corner we could see the newest range with a false low-momentum breakout to the upside which has clearly made a swing high point.
We should have had a valid BPC pattern before continuing north but bull failed there. Moreover, we got a 3 black crows formationwhich indicates a powerful selling pressure.
Notice the spinning top on a daily.
it indicates an unknown bias, confusion and no clear direction.
We should be careful on an intraday perspective and wait for more confirmation of our next move.
If we look at the weekly chart there is a BIG candle which could have been a momentum candle but the sellers failed to close below 3600.
- #3,968
- Nov 13, 2010 2:04pm Nov 13, 2010 2:04pm
Take a look from a daily chart perspective. Looking at a previous range we had a nice breakout to the upside ( one of the reasons why I called bullish targets was a breakout trading perspective.) and on a daily we havent had any range since.
In the top right corner we could see the newest range with a false low-momentum breakout to the upside which has clearly made a swing high point.
We should have had a valid BPC pattern before continuing north but bull failed there. Moreover, we got a [color=red][u]3...
but from what I get its basically just a normal breakout retest pattern but the difference being, that you wait for price start going in the breakout direction again before you enter. What I wonder about is how do you determine how far price goes before you enter. I saw on this example you had on it http://www.forexfactory.com/showthre...03#post4121903
that your entry was when price went past the pullback candle. How do you normally deal with those? That trendline that comes toghether with the pullback candle also confuses me why you had it drawn where you did, seems like it could be placed just about anywhere?
If you got a minute to explain that'd be great!
- #3,969
- Nov 13, 2010 2:47pm Nov 13, 2010 2:47pm
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
Take a look from a daily chart perspective. Looking at a previous range we had a nice breakout to the upside ( one of the reasons why I called bullish targets was a breakout trading perspective.) and on a daily we havent had any range since.
In the top right corner we could see the newest range with a false low-momentum breakout to the upside which has clearly made a swing high point.
We should have had a valid BPC pattern before continuing north but bull failed there. Moreover, we got a [color=red][u]3...
prices are within a zone where its going to be choppy
can actually make for good range trading, pick 2 levels within a tf and allow the PA at those choosen zones for entry
intraday trades are taken and banked within zones, thats my plan on any pair any tf taking momentum into consideration
- #3,971
- Nov 13, 2010 7:49pm Nov 13, 2010 7:49pm
- | Commercial User | Joined Feb 2010 | 14,361 Posts
About the bpc pattern. Not something that there seems to be a lot of info about, at least not with my google search skills
What I wonder about is how do you determine how far price goes before you enter. I saw on this example you had on it http://www.forexfactory.com/showthre...03#post4121903
that your entry was when price went past the...
It couldnt have been drawn anywhere because it wouldnt connect CORRECT swing low points. Notice how the PA respects that trendline.
BPC pattern is breakout pullback continuation pattern where PA either retests previous support now acting as a resistance and continues in the continuation direction or after a retest there is only a pullback without a continuation.
I draw trendlines on a setup chart and zoom in the lower TF for a trigger chart. On a trigger chart I can determine a valid BPC pattern and make an entry.
The other TL below is TL which connects 2 swing points where we should make an entry. As u can see that red candle is a MOMENTUM master candle that serves as a continuation confirmation,. Just below it I made an entry.
Blue TL is an inner aka retracement line and it serves as a resistance to a current downtrend.
Hope that helps. If u have further questions do not hesitate to ask.
T
- #3,972
- Nov 14, 2010 1:58am Nov 14, 2010 1:58am
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
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prices are within a zone where its going to be choppy
can actually make for good range trading, pick 2 levels within a tf and allow the PA at those choosen zones for entry
intraday trades are taken and banked within zones, thats my plan on any pair any tf taking momentum into consideration
.... as always, will let PA determine entries north and south
- #3,973
- Nov 14, 2010 2:36am Nov 14, 2010 2:36am
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
- #3,975
- Nov 14, 2010 2:52am Nov 14, 2010 2:52am
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
Hi Ya RED,
We cant keep away can we. Watch some sam sieden videos last night.
There were a few bits of good info that i hadnt realised, they are from his webinars.
Its all good here, looking forwared to next week.
W
will try and catch this north .........
- #3,977
- Nov 14, 2010 3:02am Nov 14, 2010 3:02am
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
Hi all.
Doing my homework to prepare next week's trading and found I could share this view on GBPCHF :
- Weekly : Trend is strongly bearish. Pair just printed new historical low and is bouncing from it. We've retraced to the upside 50% of last bearish move. Candle patterns looks bullish but this week's high & close are below last week's high. Breaking through 1.5853 (September's weekly highs), 1.5865 (Trend Line) & 1.5964 (prev week high) on the upside opens 1.6110 (61.8 retracement, MM Level), 1.6210 (Trend Line) & 1.6755 (prev swing high). I...
l missed the short a while ago, just never took it as l was expecting prices to go highher into supply but PA wasn't convincing @ the time to short but it did go ......... typical
not too sure whats going on with it
- #3,978
- Nov 14, 2010 3:08am Nov 14, 2010 3:08am
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
- #3,979
- Nov 14, 2010 3:39am Nov 14, 2010 3:39am
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts
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if this holds true - these pairs are suggesting a trend changing correction aud, kiwi and loony
will monitor for insight, GN gave us great insight AHEAD to time - kiwi and aud correction was coming, the opening gap from historic lows .........
- #3,980
- Nov 14, 2010 3:46am Nov 14, 2010 3:46am
- Joined Nov 2008 | Status: living deliberately | 11,122 Posts