so quiet in here you guys watching the money pile up?
james16 Chart Thread
- #87,844
- Feb 3, 2011 8:27am Feb 3, 2011 8:27am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
Stopped at BE on GA, Im still watching and learning.... GU daily shaping up maybe for a swing high PB long wick ?
- #87,845
- Feb 3, 2011 8:32am Feb 3, 2011 8:32am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
I'd be looking for a BEEOB there. Midnight will tell
That could give a completely different indication than my 00:00
I've just got my hands onto Parallels. I can give you some feedback once I've got things up and running if you're interested?
- #87,850
- Feb 3, 2011 8:58am Feb 3, 2011 8:58am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Ghous,
i have seen people referring to EURCAD lately..well this pair im not using it though..
u did mention on charts u posted with an arrow on IB
Is that an IB making a setup?im not getting it properly on how to take that ,maybe i forgot.... so need ur help!
Good Trading..
I wish i would hav hold on EURAUD Trade..its riding nicely now,lol
Yes its an Inside Bar which means that it is a bar that is smaller in range and tucked up within the high and low of the previous bar. When at important locations these bars can give you a small stop low risk entry allowing you to potentially catch a breakout of the consolidation that led to the IB forming.
What made the location nice on Eur/Cad was a simple obvious BRN 1.37 with a confluence of the 61.8 fib ret.
Now some people tend to place pending orders on both ends to try and catch a breakout off either end, I let the "ongoing story" and the "available information" give me a heads up, a bias to the breakout direction which enables only a short or only a long pending order at one end of the IB.
Over here we were retesting 1.37 from the underside, that is a level that previously held as support, broke through and was retested in which case we expect it to hold as resistance backed up with bar confirmation. This helped me develop a downside bias and so I entered in this one based off my direction bias deciphered from the on going PA.
Simple and powerful stuff.
g.
I believe . . .
- #87,851
- Feb 3, 2011 9:01am Feb 3, 2011 9:01am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
Now some people tend to place pending orders on both ends to try and catch a breakout off either end,
- #87,857
- Feb 3, 2011 9:28am Feb 3, 2011 9:28am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
if you cannot be certain of the trade just walk away...and that is what I am leaning towards now.
- #87,859
- Feb 3, 2011 9:32am Feb 3, 2011 9:32am
- | Membership Revoked | Joined Nov 2010 | 3,072 Posts
Yep. Life's too short
