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  • #641
  • Nov 23, 2010 6:05pm Nov 23, 2010 6:05pm
Quoting NeoRio
In an effort to make my chart-showing a little more understandable and easy to follow, I made 4 short videos:

Video 1

Video 2

Video 3

Video 4

Kind Regards,
NeoRio

This is great and very generous. Nice music too!
  • #642
  • Nov 24, 2010 12:22am Nov 24, 2010 12:22am
Hi Dan

chart attached, pink arrow shows the bar i took, it looks like a good zone where price has previously supported or resisted, what do you think?

Can i also get your thoughts on this CHFJPY BEOB?

thanks




Quoting DanUK
Hi Pira,

EUR/CHF - A couple of problems here... the first is that we don't have very much historical data of price in this area and as such s/r areas are harder to spot. I don't actually see a setup there... if you could post a chart it would help. If I had traded from that sort of area I would have looked to move my stop to BE if price struggled at 1.3500 (big round number)... as it happens it broke through pretty well but the shooting star that formed on Friday would have given me enough concern to move my stop to BE.

EUR/USD - I am short...
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  • #643
  • Nov 25, 2010 6:46am Nov 25, 2010 6:46am
Anyone going long here? meets all my criteria to go long, but Euro is getting smashed on many Euro pairs, so am thinking might be a pause to a further down move.

comments welcome


thanks sohail
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  • #644
  • Nov 25, 2010 7:24am Nov 25, 2010 7:24am
Quoting Sohail786
Anyone going long here? meets all my criteria to go long, but Euro is getting smashed on many Euro pairs, so am thinking might be a pause to a further down move.
Sohail, to me it also looks like a potential long setup.

 

  1. Price is potentially bouncing off the Daily TL
  2. Price is potentially bouncing off the 200EMA
  3. Price is right around the S&R level of 1.3350
  4. Price is OS (over sold) on the Stochastic
  5. Even though price has blown past the 50% fib mark, it's still above the 61.8% level and within a potential entry zone

I'd be curious to hear what Dan has to say as he entered a short at the break of the OB (outside bar...or engulfing candle) 2 days ago and should be up by about 240 pips right now.

I suppose if Dan would agree to the long, he'd want to see a candle formation complete first. Yesterday's D1 candle was nothing more than a weak spinning top and nothing necessarily to trade off of. Today's candle is still forming.

Today is Thanksgiving and historically TG is not a good ay to trade as it produces erratic and unpredictable PA. Actually, from here on out till the New Year is not the best time to be trading and entering the market in the normal fashion expecting normal swings and PA.

Kind Regards,
Neo

Sentiment: Short on cash. Long on hope.
  • #645
  • Nov 25, 2010 3:50pm Nov 25, 2010 3:50pm
Quoting tritan
hi Bez, sorry for a newbie question but what is BUOB?

Thanks
http://www.forexfactory.com/showpost...ostcount=79034

Hi tritan, you may have already seen this list but I just noticed the link in someones post and remembered your question.
  • #646
  • Nov 25, 2010 4:12pm Nov 25, 2010 4:12pm
Hi guys,

Been busy the past couple of days so I haven't managed to reply to questions but I will try to tomorrow.

I just wanted to stop by and say, with regards to the EUR/USD, I can confirm what NeoRio has said - if we had a strong, bullish candlestick pattern in this area I would consider a buy (and it would be a hedge against my short) but so far I haven't seen anything worth taking note of. This method is about taking the setups that show themselves and not trying to assume what the market might do. Hence, I wait for confirmation in the way of a candlestick or "PA" setup.

Also, I am always wary of taking a trade when the "big boys" are on holiday! I tend to avoid trading Bank Holidays.

Regards,

Dan
  • #647
  • Nov 25, 2010 7:38pm Nov 25, 2010 7:38pm
Quoting DanUK
I can confirm what NeoRio has said - if we had a strong, bullish candlestick pattern in this area I would consider a buy
Since I'm new to the idea of incorporating candle patterns for entries with this method, I'm not sure how you would handle a cluster of consolidation candles on the D1 or H4 TFs. On lower TFs, I often trade break outs of consolidation areas, but with the D1 and H4, if we're looking for IBs/OBs/shooting stars/hammers, etc, they become hard to properly read in areas of close consolidation (like what is apparently happening with the EU on the D1 right now).

NeoRio
Sentiment: Short on cash. Long on hope.
  • #648
  • Nov 26, 2010 6:22am Nov 26, 2010 6:22am
Quoting DanUK
In the case of the Euro price has broken down below key s/r at 1.3750 which also invalidates the latest swing low.
Hi Dan

Could you clarify what you mean by the break of s/r invalidates swing low. Which swing low are you referring to?

Just trying to make sure I understand fully

Also with your EUR/USD & EUR/CAD trades, have you moved your stops to BE yet and if so when did you move them?

Thanks

Mark
  • #649
  • Nov 26, 2010 7:12am Nov 26, 2010 7:12am
thanks for confirming what i thought neo and dan, it goes to show that i should wait for some bulish price action in future instead of jumping the gun.


sohail
  • #650
  • Nov 28, 2010 4:48pm Nov 28, 2010 4:48pm
hi dan


what do you think about this BUOB? it's off a support zone and with the trend.

it's running into a trendline and some resistance zones, would you wait to see how price reacts a bit further up or would you take it?


thanks,
p
  • #651
  • Edited 7:02am Nov 29, 2010 6:15am | Edited 7:02am
Quoting Pirabuji
hi dan


what do you think about this BUOB? it's off a support zone and with the trend.

it's running into a trendline and some resistance zones, would you wait to see how price reacts a bit further up or would you take it?


thanks,
p
hi Pirabuji

am not dan

but chart below does the talking as to why i would not go long


hope you can see the major resistance the BUOB is going into and the small range of that bar compared to the strong move down.

thanks
sohail
PS, i am a learner so please dont take this as trading advice, it is just my opinon
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  • #652
  • Edited 7:02am Nov 29, 2010 6:48am | Edited 7:02am
Similar story to Eur/Cad so am Short on EU


sohail

PS, i am a learner so please dont take this as trading advice, it is just my opinon
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  • #653
  • Nov 29, 2010 7:07am Nov 29, 2010 7:07am
Hi guys,

If you don't mind me adding: if you are discussing the BUOB on E/CAD Daily chart, it's not very pretty, and insignificant (small) in comparison with the previous momentum bearish bars. Also the upper wick of the BUOB is actually longer than the lower wick suggesting more selling pressure than buying pressure and finally, I would prefer the BUOB candle to close above the previous candle (so it would show clearly that the bulls are in control) and in this case it hasn't happened.

Note that these observations are based on my chart feed, you might have different looking candles.

Kindest Regards,

Cam
  • #654
  • Nov 29, 2010 10:52am Nov 29, 2010 10:52am
Quoting Sohail786
Similar story to Eur/Cad so am Short on EU


sohail

PS, i am a learner so please dont take this as trading advice, it is just my opinon
stops move to BE +1
  • #655
  • Nov 29, 2010 6:13pm Nov 29, 2010 6:13pm
For anyone interested, here is a weekly analysis video I made according to this trading style using Fibs, Round Numbers, Trend Lines, Support & Resistance.

Weekly Analysis

Kind Regards,
NeoRio
Sentiment: Short on cash. Long on hope.
  • #656
  • Nov 30, 2010 1:52am Nov 30, 2010 1:52am
Subscribed, will read thru later.
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #657
  • Nov 30, 2010 2:09pm Nov 30, 2010 2:09pm
any opinion?
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  • #658
  • Nov 30, 2010 4:25pm Nov 30, 2010 4:25pm
Quoting NaughtyPip
any opinion?
Hi NaughtyPip, I too have been keeping my eye on the NU and waiting for the new D1 candle to form to see if we'd get a candlestick formation that we could go long off of. I didn't include the NU in my last analysis video because it got too long, so I just made a dedicated short (less than 3 minutes) video for the NU to comment on your setup which I also have been watching for some time.

NU Analysis.

Kind Regards
Neo
Sentiment: Short on cash. Long on hope.
  • #659
  • Nov 30, 2010 4:35pm Nov 30, 2010 4:35pm
Quoting NeoRio
Hi NaughtyPip, I too have been keeping my eye on the NU and waiting for the new D1 candle to form to see if we'd get a candlestick formation that we could go long off of. I didn't include the NU in my last analysis video because it got too long, so I just made a dedicated short (less than 3 minutes) video for the NU to comment on your setup which I also have been watching for some time.

NU Analysis.

Kind Regards
Neo

Hey Neo nice analysis, my daily pinbar has changed slightly, im on a gmt server. Ill wait to see whats going on at london open and may look for an entry if its moved up while im asleep.

Regards
  • #660
  • Nov 30, 2010 5:57pm Nov 30, 2010 5:57pm
Nice videos Neo.

My daily candles on FXPro close at 10pm GMT. Just a plain old bearish bar
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