the below I attempted to post on your blog as a comment.. but couldn't work out how to do..Oh by the way that's an excellent blog u run there.. but stuffed if I can work out how to post comment..
re weekly pivot lines and 4 hr charts..Been paying attention since you bought to my attention a while back .. GOOD stuff.. amazing how often the end of the week ends at or around one of these points..
Got woken up at some stupid hour of the morning by a phone message (I have once again won some or other phone lottery, averaging 2 of these wins a week, I'll be rich soon), should have looked at charts with AUD pairs taking off.
So far EURAUD only had a small reaction lower to last weeks highs and might be setting up for move higher, we'll see.
5min EUUD.. fail on week mid .. I have long trade at mo at red line {image}
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D has what looks like a head and shoulders with definite resistance at 1.3400, suggesting down side. There is also support at 1.3300 with lots of lower wicks. Last 4hr engulfing negative close. I don't know who will win out.
This is the second trade. Went short in GBPJPY as there was pinbar in Dailyat a key level . Went short after there was a LH and Pinbar in H1. But price shooted back higher. Could not understand this move. What did I do wrong here ? {image}
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Ahh..This would have been a sweet trade only if I had my SL a lil higher. Tight stop got me out and there it goes..!!
Attached Image (click to enlarge)
My Mantra - Go with the flow until a key level is hit
28 August 2013
Click on date for 4hr charts.
GBPAUD - The D closed a shooting star after the base at 1.7200 held. Asian session moved up strongly again today, higher high higher low flow in tact. It might be tough going but the previous highs 1.7480 should be a target. Bias up but we are approaching a major resistance level.
EJ - D closed negative in line with the bias with the kind of over sized candle that does not always follow through immediately. Bias down but there appears to be a significant retrace up that will need to work its way out.
EURAUD - D closed positive and Asian session moved up strongly to hit the 1.5000 target. Whilst we'll need to see the reaction at London open so far the price action does not indicate we are going lower. Bias up.
AUD - D closed negative with a lower wick bouncing from last weeks lows. Bias down target should be the lows 0.8840.
I took long in NZDUSD as price reached support and there was some rejection during asian session.
I went long at the marked area later to see price hit my SL
Not sure what did I do wrong here..Could you point it out.
Thank you.
Attached Image (click to enlarge)
My Mantra - Go with the flow until a key level is hit
Took second loss. Need your help Dave. I took long in NZDUSD as price reached support and there was some rejection during asian session. I went long at the marked area later to see price hit my SL Not sure what did I do wrong here..Could you point it out. Thank you. {image}
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Yesterday D made a lower high negative close, RSI crossed lower and below the 50 level. That suggests down.
On my 4hr there was a neg close hammer, RSI crossed lower and below 50 level still. The hammer couldn't close above the 8lwma, it wasn't an engulfing close. That's not conclusively suggesting buy to me. Any candle that cannot cross its 8lwma has to be treated with caution. NB if you are going early and trading the wrong side of your TF's 8lwma I'd want to be going with a big trend rather than against it.
You did have what looks like a support area, a W pivot and a 4hr hammer. Your 1hr entry though was after a 50 pip move up from the low, right on the RN in and around the area where there were 1 hr upper wicks (and therefore sellers) yesterday. Also whilst I don't follow NZDUSD I imagine a 50 pip move in Asian session is a lot and not sure what more follow through could be expected. So that entry was not early enough, there was a 15 min hl around 0.7780 which would have given some room below the RN to get out at BE. A later entry would have perhaps needed a D positive close or 4hr engulfing close and a 1hr higher low. None of which happened.
PS had exactly the same discussion with Mrs V yesterday where she took a CT sell a little too quickly on EURAUD (not her best trade either).
Was looking for a buy in continuation of trend on EURAUD which we got in US session just below the RN. Exited for a small loss when RN held.
After struggling for hours to make any headway higher, 4h RSI crossed lower, sold the 15 min evening star pattern at 1.4947. Hit 1.4900 had a small bounce up and we hopefully will have another go lower. Aware its CT and looking for exit between the D pivot 1.4886 and the W pivot 1.4869. Stop now at BE as we have gone back down to the RN.
Was looking for a buy in continuation of trend on EURAUD which we got in US session just below the RN. Exited for a small loss when RN held. After struggling for hours to make any headway higher, 4h RSI crossed lower, sold the 15 min evening star pattern at 1.4947. Hit 1.4900 had a small bounce up and we hopefully will have another go lower. Aware its CT and looking for exit between the D pivot 1.4886 and the W pivot 1.4869. Stop now at BE as we have gone back down to the RN. Will post charts if we successfully push lower.
Hello Dave. I was going through your blog since it was started and found many post's to be so useful. I have copied and prepared a PDF.
Will share it if you allow me to do so.
Apart from that, Could you take time to conduct a webinar ?
My Mantra - Go with the flow until a key level is hit
Higher low, lower high system
