Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #27,528
- Nov 15, 2013 2:24am Nov 15, 2013 2:24am
- Joined Nov 2008 | Status: Trader | 50,249 Posts
EJ week 46 15Nov update:
The last H4 candle spike down to 134.50 before the current LO candle open.
Should be watching closely the next 4 hours price action as the H4 TDI is way high at the 80-level. Price can still move higher while TDI is above this 80-level and the D trend is still intact.
Weekend ahead so I will be closing my open postions before NY closing today.
ECOFIN meetings today so not taking risk over the weekend.
The last H4 candle spike down to 134.50 before the current LO candle open.
Should be watching closely the next 4 hours price action as the H4 TDI is way high at the 80-level. Price can still move higher while TDI is above this 80-level and the D trend is still intact.
Weekend ahead so I will be closing my open postions before NY closing today.
ECOFIN meetings today so not taking risk over the weekend.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #27,531
- Nov 15, 2013 5:22am Nov 15, 2013 5:22am
- | Commercial User | Joined Jul 2012 | 2,049 Posts
{quote} Hello allisonmagic, I looked at your recent posts and noticed that there has been quite a consistent pattern in the nature of your comments. Most of them voice your scepticism on the validity of whatever method/strategy/money management you browse. In fact, most of them are like that. I admire your dedication to still post here on forex factory which shows that you still have a passion for trading. I understand your perspective and I too have the same concerns from time to time. I even thought of posting comments similar to that of yours...
tenmilewalk,
Hello there. Thank you for the nice thought lol. yeah i can be harsh at times. But with all the false hope and losing system's i've seen around here, lots of people have lost money because of... i can't sit still and say nothing. I'm glad at least one person actually listen's to me in here
don't get me wrong though, i wish all of you the best of luck and green pips in your trading journeys ! but i will voice my opinion when needed lol. i am the great equalizer in this world of theory.hey.. we all need a slap of reality from time to time.
-Allisonmagic
- #27,532
- Nov 15, 2013 6:41am Nov 15, 2013 6:41am
- Joined Oct 2012 | Status: Trader | 1,813 Posts
{quote} tenmilewalk, Hello there. Thank you for the nice thought lol. yeah i can be harsh at times. But with all the false hope and losing system's i've seen around here, lots of people have lost money because of... i can't sit still and say nothing. I'm glad at least one person actually listen's to me in here
No offense or anything, I'm not trying to diss you, just really wondering what your take is
- #27,533
- Edited 9:49am Nov 15, 2013 9:28am | Edited 9:49am
- Joined Nov 2008 | Status: Trader | 50,249 Posts
{quote} Hi Emmanuel, just wanted to add my thoughts. In addition to H4, if we look at the daily, this week's bullish move is at last weeks' major resistance. The whole chart looks like some kind of channel that just can't break that round number. The PL of TDI is at 60 so in theory we shouldn't expect too much movement upward too soon (plus it's Friday and Monday after all), however we might just scrap some profits on lower TF off that short consolidation, before we are witness to a bigger bearish move that we could exploit on all yen pairs.. What...
Sorry for this late reply. It's Friday night out here and now into the early of Saturday morning. Staying awake to see how London will close.
Your are right about EJ and we are seeing the test of last month October' weeks high. Beyond Oct week 43 and week44 highs, there is no historical resistance until way back to 2009.
Look at MN and we see upper wicks of 2009 MN candles. So we play the RN and BRN levels when price move higher.
Abenomics is working and banks are confident and showing support of the Japanese economy recovery. After this week's bullish rally, we should be caution of any bearish correction next week and unless I see technical reversal, I will remain on buyer side. Target is 2009 High ...ca 139.00
Good Trading ahead.
Have a Good Weekend.
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #27,535
- Nov 15, 2013 10:03am Nov 15, 2013 10:03am
- Joined Nov 2008 | Status: Trader | 50,249 Posts
I really want to thank everyone here in this thread for a nice feedback on my questions and a very informative thread. I am trying to catch up the latest 200 pages and reading many of the attached pdf:s in this thread. I have a picture for you :-) This is today EU H4. It looks like a nice time to get in a buy trade at the second blue bar. Any reason not to? Is the candle to weak? The wick shows that the price has fallen. TDI has crossed and stoch points up. Trying to learn :-) {image}
Looking at your H4 chart alone, there is one candle which sticks out.
I use your chart and show an arrow to that candle.
Right now, with London closing and then NY will close in a few hours time for this week, I will not open any new trades and knowing that there is the ECOFIN meetings and EU has been in consolidation since yesterday.
The D still look bullish but very tight range if we use the PAC on D chart.
H4 is very obviously when the PA is trapped inside the PAC.
But there is potential for a breakout but right now the TIMING is not right to take any trades.
That's how I view things when I trade EU at this moment.
regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #27,539
- Edited 4:31pm Nov 15, 2013 4:11pm | Edited 4:31pm
GU H1 trades this week.....the first two were posted earlier. A nice move up on Wednesday with news...entered on a break of last week's low.....2nd trade was just a scalp trade based on continued movement following news....did not quite reach TP, so I closed it manually. Thursday produced a breakeven trade following LO....was able to pick up a few pips during NY. Friday....one BE trade entered on LO candle. 
EJ trades this week. I entered the first one as a H1 trade at LO based on price action and TDI confirmation. As the trade progress, I opened the H4 time frame and decided to monitor the trade on the H4. I moved my TP to 150, not expecting price to reach that point. It did!! The second trade was entered as a H4 trade and was based on the ABC harmonic pattern that appeared to be setting up. Not wanting to leave the trade over the weekend, I closed it manually an the last Friday candle. Price may very well continue up next week to complete that ABCD pattern but 270 pips on 2 trades is exciting. My next project is going to be to learn more about H4 trades. I know Emmanuel and others have posted lots of information on this thread and I will be studying that and apply my trading plan rules to see how it works for me. Have a great weekend everyone.... 