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  • #29,961
  • Jan 28, 2014 5:33am Jan 28, 2014 5:33am
Quoting emmanuel7788
{quote} the pull back happen at CONFLUENCE of Prev W Fib 50% and Prev D Fib 127% and RN 171.00. this setup very tempting but D bullish bias I rather wait for H4 to show bearish momentum.
Possibly being dragged up along with the UJ?
  • #29,962
  • Jan 28, 2014 5:54am Jan 28, 2014 5:54am
Quoting emmanuel7788
GU H1 28 Jan LO trade: {image}
Nice Trade Emmanuel, there were news during London open for GU, do you see setup overrides news ?
can I ask what is Fib127% failure indicated in your chart ?
Thanks
  • #29,963
  • Jan 28, 2014 5:57am Jan 28, 2014 5:57am
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  • #29,964
  • Jan 28, 2014 6:11am Jan 28, 2014 6:11am
Hello everybody , sorry to bother with this question everybody seems to have figured out , but I have been through the thread without finding any answer to my question; What is or where can I find the strict definition of a PCRF ?
Thank you for help
  • #29,965
  • Jan 28, 2014 6:12am Jan 28, 2014 6:12am
Quoting WDays
{quote} Trying to copycat you, took the trade an hour after tokyo open... +50 also Just barely hit my TP, I entered while there was still no momentum, I should have waited for london open. I got a bit lucky here... Even though bias was to the upside {image} {image}
I probably would have taken it there if I'd been awake
  • #29,966
  • Jan 28, 2014 6:12am Jan 28, 2014 6:12am
Quoting pipsit
Hello everybody , sorry to bother with this question everybody seems to have figured out , but I have been through the thread without finding any answer to my question; What is or where can I find the strict definition of a PCRF ? Thank you for help

Read the posts by phx62 just click on his name.
  • #29,967
  • Jan 28, 2014 6:19am Jan 28, 2014 6:19am
Quoting nunrgguy
{image}
Jumping in to....
  • #29,968
  • Edited 9:59am Jan 28, 2014 6:23am | Edited 9:59am
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And we have one that didn't work out. Personally I was out after the high of my box breached. Retracers entering on the 15 didn't see a valid entry anyway
  • #29,969
  • Jan 28, 2014 6:30am Jan 28, 2014 6:30am
Quoting geomoon
{quote} Nice Trade Emmanuel, there were news during London open for GU, do you see setup overrides news ? can I ask what is Fib127% failure indicated in your chart ? Thanks

Hi geomoon,

Fib 127% failure is when price fail to push above the Prev D Fib extension 127% and we see a reversal back into the previous day range.

To handle the risk with news, I move my initial SL from 50pips (1R) to 25pips (0.5R) before the news release. I place a straddle buy order above the -25pips level for a Plan B trade.

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regards,

EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,970
  • Jan 28, 2014 6:31am Jan 28, 2014 6:31am
Quoting pipsit
Hello everybody , sorry to bother with this question everybody seems to have figured out , but I have been through the thread without finding any answer to my question; What is or where can I find the strict definition of a PCRF ? Thank you for help

Here is the link to read: http://www.forexfactory.com/search.php?searchid=8440045

There are 59 posts to read what this PCRF is.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,971
  • Jan 28, 2014 6:36am Jan 28, 2014 6:36am
Quoting pipsit
Hello everybody , sorry to bother with this question everybody seems to have figured out , but I have been through the thread without finding any answer to my question; What is or where can I find the strict definition of a PCRF ? Thank you for help
The forex Gods must love you pipsit.

I came across this terminology the other day and was intrigued by it. So I did a search and as I didn't have time to read it just then, pasted it on Word.
Here goes.....




“Pullback candle reversal pattern”, is a name that I coined during hours of backtesting and studying charts. Some call the pullback candle a pinbar or hammer or other things. Four of them are marked on the chart with white circles. A pullback candle pattern consists of 3 or 4 candles that meet certain criteria. The pattern consists of the pullback candle, the candle previous to the pullback candle and the candle or two following the pullback candle. Using the examples in the chart, the low of the third candle (the candle following the pullback candle) should create a HL compared to the pullback candle and a HH compared to the pullback candle on that or the following candle, showing that a reversal is occurring (reversing short to long trend). The candle following the pullback candle, or the next candle should change colors to complete the pattern. An aggressive entry may be made once the following candle clears the pullback candle. A conservative entry would be on the open of the second candle following a change in candle color. On the LO reversal, price made a LH on the Frankfurt session candle, then a HH and a pullback on the pullback candle, then the next candle made a LH and changed color. Aggressive entry would have been right after the candle turned red…..conservative entry would be the open of the 2nd red candle.

The wick on a pullback candle must be at least ˝ of the total size of that candle and only have a wick on one end. An even longer wick is preferred.

In each of these cases, before taking the trade it is important to look left to see what support or resistance may affect your trade. Big E taught that, as well. It does not mean that you have to exit the trade because you get a change in candle color but you need to be aware of S/R areas (example….dotted gray line at 127.80) that affected the LO trade.
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.... laughing all the way to the bank
  • #29,972
  • Jan 28, 2014 6:43am Jan 28, 2014 6:43am
EU H1 28 Jan LO trade:

Moved iSL to Be before NYO.
Potential for a H1 Ib breakout,.. maybe or it reverses.

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,973
  • Jan 28, 2014 6:43am Jan 28, 2014 6:43am
Quoting lastingwell
{quote} I probably would have taken it there if I'd been awake
I'm just reaaally not a morning person, I usually sleep at 5 am til noonish... If I can, I'd take an asia trade and be done with it.
  • #29,974
  • Jan 28, 2014 6:52am Jan 28, 2014 6:52am
Quoting emmanuel7788
GU H1 28 Jan LO trade: {image}
Hi Emmanuel, I also took the 50 pips this morning. After the pull back i'm short again but now as H4 trade. Lower high on TDI and price and cross beneath te MBL

Thought this is good H4 TMS setup.
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  • #29,975
  • Jan 28, 2014 6:53am Jan 28, 2014 6:53am
Phx - thank you for sharing your trade with us. You've been a great inspiration. I took my time to learn PA trading for a while and when I got back to this thread you're still as inspirational as before.

Also want to share a video I thought very useful!

Inserted Video
Everything you can imagine, is real - Pablo Picasso
  • #29,976
  • Edited Mar 14, 2018 10:09am Jan 28, 2014 7:58am | Edited Mar 14, 2018 10:09am
Here is Trading in the Zone by Mark Douglas.

must read chapter 9 and 10 on Beliefs.

{ copyrighted attachment deleted by staff }
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #29,977
  • Jan 28, 2014 8:43am Jan 28, 2014 8:43am
Quoting itsallover
{quote} The forex Gods must love you pipsit. I came across this terminology the other day and was intrigued by it. So I did a search and as I didn't have time to read it just then, pasted it on Word. Here goes..... “Pullback candle reversal pattern”.....
Thank you itsallover , I went trough a lot of phx62 post without beeing able to find this one !
  • #29,978
  • Jan 28, 2014 9:11am Jan 28, 2014 9:11am
Quoting WDays
{quote} Trying to copycat you, took the trade an hour after tokyo open... +50 also Just barely hit my TP, I entered while there was still no momentum, I should have waited for london open. I got a bit lucky here... Even though bias was to the upside {image} {image}
I got on the same trade like you, at first entered on a nice PCRF late NY session with a TDI recross right above MBL.
It had a difficult time to break 200ema on M15 and I exited with +18 pips.
Reentered later when TOK opened and made it to 50 pips tp.
I am going to leave ej alone for now, will wait and see how daily close.
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If you're going through hell, keep going. Winston Churchill
  • #29,979
  • Jan 28, 2014 9:18am Jan 28, 2014 9:18am
A couple more trades on EU/AU H1.....one at LO and the other on a retracement back toward the trendline at NY open. Waiting for a possible short entry off the double top that was just set (need a new red candle and TDI must confirm entry).
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  • #29,980
  • Jan 28, 2014 9:28am Jan 28, 2014 9:28am
Quoting Imi
{quote} I got on the same trade like you, at first entered on a nice PCRF late NY session with a TDI recross right above MBL. It had a difficult time to break 200ema on M15 and I exited with +18 pips. Reentered later when TOK opened and made it to 50 pips tp. I am going to leave ej alone for now, will wait and see how daily close. {image}
I was really doubtful of my entry. I eyed it until around 5 am my time (which is like 5 hours before london), it wasn't going too well. I just decided I'd let it hit tp or sl, and good news is it hit TP

Quoting Phx62
A couple more trades on EU/AU H1.....one at LO and the other on a retracement back toward the trendline at NY open. Waiting for a possible short entry off the double top that was just set (need a new red candle and TDI must confirm entry). {image}
Damn, you're completely owning the EA
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