Price is beautiful. A repetitive method is a competitive method. 
james16 Chart Thread
- #129,282
- Dec 19, 2013 4:36pm Dec 19, 2013 4:36pm
{quote} hey Fx, Great to have you here{image} g.
Hi Ghous,
Excellent reading. I didn't notice PPZ above. closed the trade with small profit.
Thanks very much Gous. Please feel free to point out any comments.
Here is my Eur Aud trade i took .
- #129,285
- Dec 19, 2013 7:33pm Dec 19, 2013 7:33pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
.
- #129,292
- Dec 20, 2013 12:37pm Dec 20, 2013 12:37pm
Hello guys, For me the bar on EU is a big NONO as it is running right into that FTA which is like just "couple" of pips away... Also the bar is not at absolute high, so it does not look much appealing to me. However, CADJPY's last weekly close above 97.00 combined with todays bullish outside bar look much better. Still, not an A+ trade but I am planing to trade it. Cheers {image}
My ultra crappy signal order on CADJPY got activated
Interestingly, though, weekly and H4 are giving some positive signals. Initially my trade was based on the "almost" BUOB that closed above 97.00. Today we've got breakout above the Daily bar that gave me the signal and a really nice rejection off that level on H4. In fact, right now it looks like a much better set up on H4 - break out followed by rejection with a pinbar. such a beauty:
Weekly, also shows nice rejection pin over the 97.00 level, wich adds extra confidence in my trade.
Cheers
Twitter @raitchev
- #129,294
- Dec 20, 2013 2:14pm Dec 20, 2013 2:14pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Here is a breakout setup from 2 weeks ago. NZD CAD daily BUOB closes above the consolidation box. I was lucky I saw it only today because the result was a loss no matter what your entry style was (at close, with stop or limit orders). After the wicks from first day and second day maybe you could have closed the trade for a small lose after those wicks but I don't think I would have closed it. Even it was a nice BUOB maybe it hasn't trapped enough bears. Bears who put take profit at the middle of the box would have taken profit so they wouldn't have...
Here was that sell chart
Hope everyone is enjoying the start to the holidays and getting some nice family and friends time
Mike
- #129,297
- Dec 21, 2013 7:07am Dec 21, 2013 7:07am
- | Joined May 2010 | Status: Trader | 1,100 Posts
Hi all,
Well looks like I wont be taking a trades this month. Have not been looking at the charts that much this month with hectic time at work and planning for christmas etc.
I really should of taken this particular setup which would of resulted in around 9% gain this month. Hmm, seems like I still get caught up on trades that worked out as expected but I didnt take. Still got some work to do on that area of my trading...letting go.
Before:
After:
Merry Christmas All
Dan
Well looks like I wont be taking a trades this month. Have not been looking at the charts that much this month with hectic time at work and planning for christmas etc.
I really should of taken this particular setup which would of resulted in around 9% gain this month. Hmm, seems like I still get caught up on trades that worked out as expected but I didnt take. Still got some work to do on that area of my trading...letting go.
Before:
{quote} Have not been active on FF much as of late but ive been watching this pair as well. I have my trendlines slightly different but the same concept. Would really need to see a rejection/retracement off the current trendline to confirm this pattern before looking for a break to the upside. I've had a number of PMs asking me to post up trades/setups/ideas more often, so im going to try and do so from now on
Merry Christmas All
Dan
- #129,298
- Dec 21, 2013 10:14pm Dec 21, 2013 10:14pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
hello ghous! why not use the actual levels to assess the false break! however it would be best to place an order when the price is indented between the actual levels. I say this because very often the actual level between the min and max range are formed market! In this way you can take advantage of greater security with the fake break! the tail is only used to collect liquidity is indicative and not operational only personal opinions, I apologize for writing false break whit inside bar that shows the actual price levels {image}
What's important about the 1.48181 price here? It marks the highest traded price before price turned around (that's why I refer to it as the HHR - Highest High of resistance). Not that I have anything against HCR/LCS levels. Its just this information that I am looking for to complete the bigger picture. Initially I was using both levels (HHR and HCR) and it just complicated my trading unnecessarily until I just got rid of the frills and used the more important highs and lows.
and no apologies needed really. Dunno why you felt the need for it.
g.
I believe . . .
- #129,299
- Dec 21, 2013 10:18pm Dec 21, 2013 10:18pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Interesting Pinbar that I am watching :o) {image}
Closed with 55 points. Dint like the PA at 1Hr SR line. Lets wait and see how it closes related to that line and add in again. {image}
g.
I believe . . .
- #129,300
- Dec 21, 2013 10:27pm Dec 21, 2013 10:27pm
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
{quote} Ghous, Why is it bad to take fakeout trades during holiday periods? Neytiri
Its actually good that traders around the world have a mutual understanding for taking some time off the charts. After a busy year its always nice to just step back a bit and catch up on other stuff and allow the mind to relax and refreshed for the upcoming new year.
g.
I believe . . .