NZDUSD looks so heavy on H4 . Maybe time for retracement . Only bad thing is i can't find a good PA setup to enter short
james16 Chart Thread
- #107,482
- Feb 16, 2012 3:36am Feb 16, 2012 3:36am
NZDUSD looks so heavy on H4 . Maybe time for retracement . Only bad thing is i can't find a good PA setup to enter short
Hey Rust,
for short I would wait for a break and a retest of the blue zone.
Take care
Follow my trading on Twitter and FB: @pumlitch
hey KK
I have hooked my computer to one of my 42 led/lcds. It's really cool for like 2 mins, then it just feels incredibly weird lol.
I prefer multiple desktop monitors. Since I spend most of my life at a desk lol
Mike
- #107,485
- Feb 16, 2012 4:42am Feb 16, 2012 4:42am
NZDUSD looks so heavy on H4 . Maybe time for retracement . Only bad thing is i can't find a good PA setup to enter short
- #107,486
- Feb 16, 2012 5:42am Feb 16, 2012 5:42am
Very major indeed imo !Seems this will remain as no valid entry for me ...
About daily pinbar ... mm no . Maybe If it was outside bar like this - then definitely
- #107,489
- Feb 16, 2012 6:14am Feb 16, 2012 6:14am
updated chart
Any surprises here? Shouldn't be. we know where price is going and we know this is a small bar vs the trend
For me that pin looked good. I was very careful and got out early for modest profit. I wanted to see how it reacted and Mike, you were spot on. And to be honest it proved just how good this thread and all it teaches really is - it behaved EXACTLY as you'd expect.
It's really important for me (and i doubt i'm alone) that we see how these pins behave as part of a story. This looked ok but wasn't good for many reasons.
I've learned. Again. thank you.
- #107,490
- Feb 16, 2012 6:15am Feb 16, 2012 6:15am
Can't miss area like that
Seems this will remain as no valid entry for me ...
About daily pinbar ... mm no . Maybe If it was outside bar like this - then definitely
Follow my trading on Twitter and FB: @pumlitch
- #107,492
- Feb 16, 2012 6:46am Feb 16, 2012 6:46am
classic easy J16 here. For those struggling THIS IS WHAT YOU SHOULD BE DOING. Simple clean PA bars at clean areas. Build up your "tools"
you always show the good setups on pairs that ibfx doesn't offer
- #107,493
- Feb 16, 2012 6:53am Feb 16, 2012 6:53am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Not fair Mike ,
you always show the good setups on pairs that ibfx doesn't offer
It's another key to simplicity success LOL
Best
Mike
- #107,494
- Feb 16, 2012 6:54am Feb 16, 2012 6:54am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
I took this short on 8H PB and got out at the FTA i posted yesterday. Now i see on 8H there is DBLHC, which i will now take long.
For me that pin looked good. I was very careful and got out early for modest profit. I wanted to see how it reacted and Mike, you were spot on. And to be honest it proved just how good this thread and all it teaches really is - it behaved EXACTLY as you'd expect.
It's really important for me (and i doubt i'm alone) that we see how these pins behave as part of a story. This looked ok but wasn't good for many reasons....
Yep it's all important stuff to learn. Then we put it together how is comfortable for us. So even though I knew exactly where price was going, it wasn't worth the trade for me. Based on how I put the material together. But the power once we do know. Then we just have to stay patient, picky, disciplined every day(easier said then done right
)Best
Mike
- #107,495
- Feb 16, 2012 7:03am Feb 16, 2012 7:03am
cool B!
Yep it's all important stuff to learn. Then we put it together how is comfortable for us. So even though I knew exactly where price was going, it wasn't worth the trade for me. Based on how I put the material together. But the power once we do know. Then we just have to stay patient, picky, disciplined every day(easier said then done right
Best
Mike
I just love how the previous bars show us where we're going. Thinking about it, are the previous bars highs/lows basically pivots for people playing lower TF? I guess they are.
- #107,496
- Feb 16, 2012 7:04am Feb 16, 2012 7:04am
time to find more brokers. I have accounts with multiple brokers, this is one of the reasons. Such an easy thing to do and gives us so many more options.
It's another key to simplicity success LOL
Best
Mike
- #107,497
- Feb 16, 2012 7:06am Feb 16, 2012 7:06am
- Joined Jan 2011 | Status: Senior Member - Pro FX Trader | 2,736 Posts
if u like range plays, got a nice BUOB here on the 4hr, right at a swong low of the range.
took BUOB at bottom of the range/consilidation, when i saw this BUOB was quote obvious where price is heading now
Not many ppl can trade ranges, but with J16 its easy!
- #107,498
- Feb 16, 2012 8:19am Feb 16, 2012 8:19am
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
trade at BE already now, so no stress trade on this one
took BUOB at bottom of the range/consilidation, when i saw this BUOB was quote obvious where price is heading now
Not many ppl can trade ranges, but with J16 its easy!
For a start I thought we should be looking at the higher timeframes and A+ trades. Looking at the daily it's certainly not an A+ setup.
Have we moved to scalping the H4 now? Did I miss something?
- #107,500
- Feb 16, 2012 8:26am Feb 16, 2012 8:26am
This is interesting . GBP is showing some strength all across the board and this pair i was watching closely before that .
The 1.5660 area turned to be very resistant. A bunch of confluence there - PPZ , 150 and 365 emas , 38.2% fib retracement , multiple bar lows ! Then this huge huge BUOB happened engulfing a lot of bars and closed above a trendline (even if it's not the best one) and more important above our previous PPZ which i find major. Only thing that stopped me from pull a full position here was that the close is lower than 1.5750 which is the middle of the two major RNs (1.6000 and 1.5500) .
So here i will try to catch some of the momentum that build up
edit : i promise next chart to be much clearer , just wanted to put all the confluence at one place
The 1.5660 area turned to be very resistant. A bunch of confluence there - PPZ , 150 and 365 emas , 38.2% fib retracement , multiple bar lows ! Then this huge huge BUOB happened engulfing a lot of bars and closed above a trendline (even if it's not the best one) and more important above our previous PPZ which i find major. Only thing that stopped me from pull a full position here was that the close is lower than 1.5750 which is the middle of the two major RNs (1.6000 and 1.5500) .
So here i will try to catch some of the momentum that build up
edit : i promise next chart to be much clearer , just wanted to put all the confluence at one place
