I like the Weekly confluences on the Usd/Cad, Fib, 150 ema, 1.0300 RN . . PPZ level could be a lot clearer and the Daily PB could be, of course, bigger. . .although it did hit its target . .
Nothing personal,just business
james16 Chart Thread
- #102,282
- Sep 27, 2011 2:16am Sep 27, 2011 2:16am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Thanks Jarroo.
Let's take this Nzd/Usd trade and look at all the possible trade management styles once our 1st target is hit. Move to break even, take full profit, move your Stop up a little, etc. You should do all of this on a demo trade or on paper to help find what fits your style.
James16 will say it depends on your account size and I have to agree with him there . .taking full profit at the 1st target with a large account and calling it a day makes sense.
. .but looking for that runner makes sense as well.
Indicators show the past. Price Action "Indicates" the future.
- #102,283
- Sep 27, 2011 2:19am Sep 27, 2011 2:19am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
The monthly chart is even better.
Indicators show the past. Price Action "Indicates" the future.
- #102,284
- Edited 2:28am Sep 27, 2011 2:21am | Edited 2:28am
Another little 60m setup this morning on the other pair I look at which is GBPUSD.
To clarify I'm only looking for BE/BUOB, Pin Bar, DBHLC DBLHC bar setups, and only looking for them to occur at the high or low of the day. They are quick trades, sometimes only 10 pips as a first target, but I am using the PA to determine those targets based off what I've learnt so far.
GBPUSD BEOB off the high of the day.
First target is 56 (the chart is marked up wrong as the first target). So off the entry at 64 that's 8 pips. Half off, stop to entry, and the rest I'm looking to run to the low of the day as the final target.
UPDATE: First target hit for +8. Remaining part of trade stopped out at BE.
To clarify I'm only looking for BE/BUOB, Pin Bar, DBHLC DBLHC bar setups, and only looking for them to occur at the high or low of the day. They are quick trades, sometimes only 10 pips as a first target, but I am using the PA to determine those targets based off what I've learnt so far.
GBPUSD BEOB off the high of the day.
First target is 56 (the chart is marked up wrong as the first target). So off the entry at 64 that's 8 pips. Half off, stop to entry, and the rest I'm looking to run to the low of the day as the final target.
UPDATE: First target hit for +8. Remaining part of trade stopped out at BE.
- #102,285
- Sep 27, 2011 2:24am Sep 27, 2011 2:24am
- | Commercial User | Joined Nov 2010 | 1,178 Posts
Nothing personal,just business
- #102,286
- Sep 27, 2011 2:25am Sep 27, 2011 2:25am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Another little 60m setup this morning on the other pair I look at which is GBPUSD.
To clarify I'm only looking for BE/BUOB, Pin Bar, DBHLC DBLHC bar setups, and only looking for them to occur at the high or low of the day. They are quick trades, sometimes only 10 pips as a first target, but I am using the PA to determine those targets based off what I've learnt so far.
GBPUSD BEOB off the high of the day.
First target is 56 (the chart is marked up wrong as the first target). So off the entry at 64 that's 8 pips. Half off, stop to entry, and...
. .I like it . .. Throw in some confluences at those Daily High/Low and I like it even more. . .
Indicators show the past. Price Action "Indicates" the future.
- #102,287
- Sep 27, 2011 2:29am Sep 27, 2011 2:29am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Nice pin bar from strong ppz.
First target hit,looking for confluence:50Fibb+trend line+strong ppz.
Indicators show the past. Price Action "Indicates" the future.
- #102,288
- Sep 27, 2011 2:38am Sep 27, 2011 2:38am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Nice fxg . .there's also a 150ema confluence on the Daily PB (FxPro)
. .Yeah, I know its a Sunday bar its engilfing on the IBFX feed . .
Indicators show the past. Price Action "Indicates" the future.
- #102,289
- Sep 27, 2011 2:48am Sep 27, 2011 2:48am
Cool strategy, picon . .
- #102,290
- Sep 27, 2011 2:50am Sep 27, 2011 2:50am
First trade +8 and then remaining stopped out.
There was a re-entry possibility on a 50% retrace of the BEOB.
Entry at 80. 1st target at 70, which was the low of the previous bar, and yesterdays high.
First target hit, stop to entry.
Final target once again looking for the low of the current day.
There was a re-entry possibility on a 50% retrace of the BEOB.
Entry at 80. 1st target at 70, which was the low of the previous bar, and yesterdays high.
First target hit, stop to entry.
Final target once again looking for the low of the current day.
and 150 ema confluence on IBFX feed . .but is a BEOB . .
Location & size of the bar...
Anyways,Hi
- #102,292
- Sep 27, 2011 2:55am Sep 27, 2011 2:55am
- | Commercial User | Joined Nov 2010 | 1,178 Posts
Nice fxg . .there's also a 150ema confluence on the Daily PB (FxPro)
BRN(2.00)...Very interesting where today candle made its retreacement !Nice place for SL placement+left eye !
Coincidence....?...We don't belive anymore in such things !
Nothing personal,just business
- #102,293
- Sep 27, 2011 2:57am Sep 27, 2011 2:57am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
I can only think of using fibs as a confluence tool at the moment. Which as lady luck would have, drawing fibs from the low to the high, the 61% fib lined up very nicely with the first target. Also the 61% fib extension also lined up nicely with the first target.
Indicators show the past. Price Action "Indicates" the future.
- #102,294
- Sep 27, 2011 3:00am Sep 27, 2011 3:00am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
GBPNZD
BRN(2.00)...Very interesting where today candle made its retreacement !Nice place for SL placement+left eye !
Coincidence....?...We don't belive anymore in such things !
Indicators show the past. Price Action "Indicates" the future.
- #102,295
- Sep 27, 2011 3:04am Sep 27, 2011 3:04am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
sadly IBFX,Alpari dont have this pair to execute trades..so i wld be js watching...
Location & size of the bar...
Anyways,Hi
Indicators show the past. Price Action "Indicates" the future.
- #102,296
- Sep 27, 2011 3:10am Sep 27, 2011 3:10am
I see a nice fib cluster at that Hourly BEOB . . .
What are the ema's you have on there as well. There looks to be a nice touch of one of the ema's around the BEOB also
- #102,297
- Sep 27, 2011 3:14am Sep 27, 2011 3:14am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Ahh I see where your taking them from now. I've not been going back far enough for the fibs. Just been using current and previous days low to high, rather than the larger trend high to lows
What are the ema's you have on there as well. There looks to be a nice touch of one of the ema's around the BEOB also
Indicators show the past. Price Action "Indicates" the future.
- #102,298
- Sep 27, 2011 3:16am Sep 27, 2011 3:16am
So the final target on the re-entry trade has been hit.
Not a bad mornings pip count. I'm happy with it. Nothing to do now other than wait to see if anything further develops on eurousd or cable at my interest levels, and check to see if the daily ATR's are good enough for any new trades.
Not a bad mornings pip count. I'm happy with it. Nothing to do now other than wait to see if anything further develops on eurousd or cable at my interest levels, and check to see if the daily ATR's are good enough for any new trades.