20 pips scaling out
next stop 1.5570 and 1.5600 but news in 3 min so better SL @ BE now
Cable Update (GBPUSD)
- #317,702
- Jun 28, 2012 6:29am Jun 28, 2012 6:29am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
sold USD CAD @ 1.0267 TP 1.0235-1.0226
sold USD CHF @ 0.9660 first TP 0.9630 and last 0.9600
- #317,703
- Jun 28, 2012 6:34am Jun 28, 2012 6:34am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
and 1.2514 on EU
so here I buy again 1.2429 TP 1.2512(spread)
and also buy Gold for 11 USD
1567.45 TP 1578.75
damn it my legs are shaking so I closed half EU now and on gold rest @ BE
23 pips on EU and 4 usd on gold
- #317,704
- Jun 28, 2012 6:39am Jun 28, 2012 6:39am
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
damn it my legs are shaking so I closed half EU now and on gold rest @ BE
23 pips on EU and 4 usd on gold
All the best
Regards
- #317,706
- Jun 28, 2012 7:04am Jun 28, 2012 7:04am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
Redbeben
you were spot on with your analysis for the next stop at 1.5570,
if you dont mind can you please tell or show on chart how did you figure out that level please?
as a matter of fact I can post a chart it is just.....you need to understand how ichi works before you apply this setup I used as this one is a countertrend
here it goes
as per ichi rules,flat blue line(I will use coulours as most ff members don't know the names of the lines) attracts price like a magnet.in our case flat line was 1.5572 but just to make sure and cover spread we live 2-3 pips
whole area is 1.5570-1.5575 as flat top of cloud as well
and....50% fibo on the fall
so ichi,is one of the most complex analysis ever as all the lines and clouds will not only give you the accurate price of S and R but also future of the pair.....off course future cannot be told and there is always 50% chance to blow it but this is why you need a good MM
so.....clouds represent S and R areas and blue and red line as well....nothing complicated
be advised that price hit 50% fibo.this line is not a retracement level,it makes no sense as in math but traders have the tendency to reverse at this level
this is why if we close a M5 above it we shoot up to 1.5585(61.8% fibo) and above @ 1.5610-11 as a min.
1.5645 to follow if pattern applies
for the time being please read anything you can find about ichi if you are really interested in it
- #317,707
- Jun 28, 2012 7:38am Jun 28, 2012 7:38am
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
- #317,708
- Edited 8:01am Jun 28, 2012 7:47am | Edited 8:01am
Was this candle a bull trap?
A "trap" is meant to fool or ensnare traders. So a BULL trap WOULD be used in an downtrend. Although this is simply the natural order flow taking place here. What you call it is actually irrelevant it's more important that you noticed this as and "event" level in the first place. Call it a "trap" if you like. It's any type of pause, reprieve, or counter trend movement that's intended to get you on the other side of the longer term trend. It's a trick, a head-fake, a juke or a crossover, breakin' ankles in order to get the opposition (you) out of position. Then your toast.
Inserted Video
- #317,709
- Jun 28, 2012 7:49am Jun 28, 2012 7:49am
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
- #317,710
- Jun 28, 2012 8:06am Jun 28, 2012 8:06am
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
- #317,713
- Jun 28, 2012 8:20am Jun 28, 2012 8:20am
- | Commercial User | Joined Feb 2010 | 2,739 Posts
Thanks for the chart
but is the fib drawn from 1.5640 to 1.5525?
so the fib can be drawn both ways
mine were drawn strictly on the last move down from 1.5625
keep an eye on 1.5522 level as this one is the 50% fibo from whole up move from 1.5268 to 1.5777.....it might signal the reversal of the whole move down and continuation of the uptrend....
fibos can be drawn each way you want on whatever TFS you need them
mine were drawn strictly on the last move down from 1.5625
keep an eye on 1.5522 level as this one is the 50% fibo from whole up move from 1.5268 to 1.5777.....it might signal the reversal of the whole move down and continuation of the uptrend....
Prefer Price Action Method!
- #317,715
- Jun 28, 2012 8:25am Jun 28, 2012 8:25am
Good day to you, sir
Explained very well... thank you.
Presently lightly toasted...
But opposite trap in play?
Me finks...
I'll have to take foot out of mouth a bit later - it seems.
All success to you
Lightly toasted can sometimes be a good thing. It's like the sun. You need a little bit of a base tan before spending a long day in the sun. Otherwise its painful. Our senses are designed to identify the thresholds that define too much or too little. Whether we realize it or not we consciously or sub-consciously act based on previous experiences. Take those losses. We learn our lessons or die.
might signal not a guarantee.don't try to pick bottoms.
The next M15 candle should tell me the story. AJ and CAD is also on my radar. Let's see what happens.
Prefer Price Action Method!
- #317,718
- Jun 28, 2012 8:32am Jun 28, 2012 8:32am
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #317,720
- Jun 28, 2012 9:03am Jun 28, 2012 9:03am
Speaking of traps. "False Breaks" are common on this pair. Especially following a Price Action signal such as an inside PinBar. First I'll need to see either the CANDLE CLOSE as such OR a total reversal in the current 4H candle forming a nice bullish Pin in the opposite direction. All BUYS will be entered on a stop allowing the markets momentum to confirm the setup.
Otherwise I'll continue to sell pullbacks on lower TF's.
Otherwise I'll continue to sell pullbacks on lower TF's.
