thanks fxdonchris,i have been around than six months(couple of years),i have just not stayed with forex consistently for long at one go ,i go of and on that is what i meant,was in the university when i found out about,but could not just crack it,however am done with my education. From now on i want to stay focused and want to be a successful trader. I realized price action is king not indicators atleast for me. I have been paying attention to PB awhile now, i see they are prolific. Really want to learn alot more. Thanx once again everyone.
james16 Chart Thread
- #120,802
- Nov 14, 2012 7:54am Nov 14, 2012 7:54am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
Thanks Guys, i appreciate your time to answer my questions!
Bullzeye are you going to enter under the inside bar on the daily? (GBPAUD)
Hilton
, see Bones chart
- #120,803
- Nov 14, 2012 8:02am Nov 14, 2012 8:02am
...can you see it? Lets look how it will plays out...nice indeed
Sticking to the daily, I'd like to see today's candle closing as a bearish PB off of 80 BRN + PPZ + 50% retracement of previous down move, and as a retest of the ascending TL along with the 365EMA nearby...
one can always dream
take care
Slow & steady
. It was a risky trade, but I saw some things in the lower timeframes. For example, the latest move up was on a break of a wedge in the 1H.
- #120,805
- Nov 14, 2012 8:42am Nov 14, 2012 8:42am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
good day everybody, am a struggling trader,i found out about this thread a couple of months back but did not pay attention to it much till a friend advised me too, and found that there are lots of quality stuff here. Am so happy to be here. Have been around for awhile but never have been consistent with fx until now,used to trade say like 6months then off again for awhile, use to be an indicator junkie at one time but they just did not get me far. i guess i could use all the help i could get to realize my dream of becoming a successful trader,thanks...
Best
Mike
- #120,808
- Nov 14, 2012 9:21am Nov 14, 2012 9:21am
I like this one too Rust here are my charts
Price is turning over I guess thats what you call a Pitka? I like to tell people price is turning over this then creates substantial "BASE" under us. Which in this case looks almost like a h&S as well.
I think the rising TL can be a good use for risk mgmt I would be surprised to see a pullback like you show as well
Yes, i call pitka when there is a straight base and a parabolic top. It's a product of your rounding effect, divergence, loss of momentum, wedge, but a specific nuance of those in a visual setup. I found it work as good as some of the most reliable setups along
- #120,809
- Nov 14, 2012 9:24am Nov 14, 2012 9:24am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Glad to see you on the boat friend
Yes, i call pitka when there is a straight base and a parabolic top. It's a product of your rounding effect, divergence, loss of momentum, wedge, but a specific nuance of those in a visual setup. I found it work as good as some of the most reliable setups along
Notice this base is being put around where the last base was too. Very nice PPZ here so I like this. I do think I could see some drawdown though but I'm ok with that. I had a pending buy limit that just got missed then my buy stop picked up
Mike
- #120,810
- Nov 14, 2012 9:51am Nov 14, 2012 9:51am
great Rust, I like when people create their own terms and visualizations of things.
Notice this base is being put around where the last base was too. Very nice PPZ here so I like this. I do think I could see some drawdown though but I'm ok with that. I had a pending buy limit that just got missed then my buy stop picked up
Mike
Yesterday i even though i lost it without me and cancelled my order. But when i saw it today pulling back i didn't hesitate to fill in (lemme see) 6.76545 -> virtually where your buy is too.
- #120,811
- Nov 14, 2012 9:55am Nov 14, 2012 9:55am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
It was a crazy chase here as well trying to caught it on a buy limit
- #120,812
- Nov 14, 2012 11:03am Nov 14, 2012 11:03am
38.2 Fibo ret, PB. Bought on break. Now 2/3 of my entire possition closed. Watching PA for further action.
I'm curious what will happen with the descending TL... I've watched markets this afternoon, it looks like we lost the sellers on USDJPY today.
- #120,814
- Nov 14, 2012 11:20am Nov 14, 2012 11:20am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
so true
- #120,816
- Nov 14, 2012 11:47am Nov 14, 2012 11:47am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
I like this one too Rust here are my charts
Price is turning over I guess thats what you call a Pitka? I like to tell people price is turning over this then creates substantial "BASE" under us. Which in this case looks almost like a h&S as well.
I think the rising TL can be a good use for risk mgmt I would be surprised to see a pullback like you show as well
...is it something like cup&handle or what?
- #120,817
- Nov 14, 2012 11:50am Nov 14, 2012 11:50am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
Hey Bull maybe potential both ways ,not sure here now as Aud has made bearish move
if we hit target or not ?
wait for daily
if we hit target or not ?
wait for daily
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #120,818
- Nov 14, 2012 11:55am Nov 14, 2012 11:55am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
waiting for a clear break of the TL...open a first position, will add another one higher on the weekly TL...on daily is forming a BEOB,on weekly it looks like a nice pin so far
- #120,819
- Nov 14, 2012 12:12pm Nov 14, 2012 12:12pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
nice setup guys
Best
Mike
- #120,820
- Nov 14, 2012 12:34pm Nov 14, 2012 12:34pm
- Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts
meine augen sind die sterne