Waiting here
Mike
james16 Chart Thread
- #117,403
- Sep 5, 2012 10:27am Sep 5, 2012 10:27am
After today's close, I decided to go long on EURUSD. Price failed to close below support again and I thought a buy with a small SL would be low risk. I'm only using a third of my normal risk. My thinking here is that even though there is weekly and trendline resistance overhead, there is still enough room to capture profit and/or get to break before it's hit. Had price closed below support, I wouldn't have looked long here.
Anyone else see this or something different?
- #117,409
- Sep 5, 2012 11:04am Sep 5, 2012 11:04am
chart I am watching here
usd/cad forming a nice pattern here, good areas to watch for price action
This particular one is my favorite to watch this week
I wish to see a bearish breakout Here is a beauty to watch too.
I do this all day long with patterns, I love it
Just put in my watchlist hehe!
- #117,410
- Sep 5, 2012 11:17am Sep 5, 2012 11:17am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Great examples Mike, thanks for sharing!
This particular one is my favorite to watch this week
How could I missed this
Mike
- #117,411
- Sep 5, 2012 11:31am Sep 5, 2012 11:31am
Hi guys (Mike, Jarroo and others...) please help me understand this trade (James showed here:http://www.forexfactory.com/showthre...45#post3131645). We dont see support level or pa, or confluence and etc. Vice versa we see stronger resistance level slightly above the entry point... What basis this setup?
- #117,412
- Edited 11:50am Sep 5, 2012 11:32am | Edited 11:50am
- | Joined Sep 2011 | Status: Hybrid | 413 Posts
Hey guys,
I have a question regarding the SL on the PBT method. I understand that usually, the SL is above/below the Bar that PBT.
Can we reduce this if we find a good/safe zone (like a PPZ) in the lower TF that gives us a bigger position size, and therefore a higher RR?
(This isn't a very clear/strong PBT example, but just for example's sake).
Thanks
I have a question regarding the SL on the PBT method. I understand that usually, the SL is above/below the Bar that PBT.
Can we reduce this if we find a good/safe zone (like a PPZ) in the lower TF that gives us a bigger position size, and therefore a higher RR?
(This isn't a very clear/strong PBT example, but just for example's sake).
Thanks
I don't need easy. I just need possible.
- #117,413
- Sep 5, 2012 11:36am Sep 5, 2012 11:36am
What should you watch out for though if you take a bearish breakout(not wrong I'll watch that too) but there is a key area to watch
Mike
That's the initial plan
May end totally different as new information comes by you know 
May be good for a bullish break, too. But i find i am even pickier than you
and i don't like it enough. Kinda miss a pinch of little more divergence.
- #117,414
- Sep 5, 2012 11:42am Sep 5, 2012 11:42am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Flat take profit at 0.9800 for sure. Possible second entry as i expect a bounce back... then sell to 0.9800 again watching for a break further down
That's the initial plan
May be good for a bullish break, too. But i find i am even pickier than you
Very good Rust, 9800 is major big time stuff. Everything is very cautious for me to the downside trading into such a major area. Easier to watch that area alone.
Best
Mike
- #117,415
- Sep 5, 2012 12:02pm Sep 5, 2012 12:02pm
Very good Rust, 9800 is major big time stuff. Everything is very cautious for me to the downside trading into such a major area. Easier to watch that area alone.
Best
Mike
These middles of BRN's (.x2500 and .x7500) are very strong man! I love em!
- #117,416
- Sep 5, 2012 12:05pm Sep 5, 2012 12:05pm
Hey guys,
I have a question regarding the SL on the PBT method. I understand that usually, the SL is above/below the Bar that PBT.
Can we reduce this if we find a good/safe zone (like a PPZ) in the lower TF that gives us a bigger position size, and therefore a higher RR?
(This isn't a very clear/strong PBT example, but just for example's sake).
Thanks
Sure, u can do that, probably some guys do, if u find some good PPZ lets say on H1 like u show on chart.
I dont do it thought. If im trading daily, i wanna see all info i need on daily. If u find good PPZ to hide S/L on H1 is probably visable on D1 also. So i for one dont see point switching timeframes.
And tighting S/L to much was never good for me. Many times lead to a looser in a winning trade.
Hope i make any sence
- #117,417
- Sep 5, 2012 12:34pm Sep 5, 2012 12:34pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
I like this one more in terms of possible retrace/trend reverse. What do you think ?
These middles of BRN's (.x2500 and .x7500) are very strong man! I love em!
Attachment
Mike
- #117,419
- Sep 5, 2012 1:34pm Sep 5, 2012 1:34pm
Hey brzvadeg . rememeber chart 3 from this post?
I cleaned it up a bit to show you how reactive the LCS levels can be when the pair has her mind set on trending up.
I Remember. I followed this schedule, and noticed that the euro / dollar and euro / sek have some similarities. Euro / dollar today is confirmed. Long euro.