{quote} It's coming off the 23.6 fib as well.
you know what fib stands for.. do ya?
Passion, Persist, Patience, Protect
Price Action and Trading Discussion
- #4,722
- Mar 12, 2014 11:13am Mar 12, 2014 11:13am
- | Membership Revoked | Joined Aug 2012 | 5,371 Posts
{quote} you know what fib stands for.. do ya?
.
- #4,723
- Mar 12, 2014 11:19am Mar 12, 2014 11:19am
- Joined May 2013 | Status: Trader | 1,997 Posts
{quote} Go on, tell me
" frigging Irrelevant By product ".. lol
Passion, Persist, Patience, Protect
- #4,724
- Mar 12, 2014 11:22am Mar 12, 2014 11:22am
- Joined May 2013 | Status: Trader | 1,997 Posts
oh god all fib lovers are gonna be allover me now.. lol
its just a joke folks.. maybe a fact in empires book, but still a joke
its just a joke folks.. maybe a fact in empires book, but still a joke
Passion, Persist, Patience, Protect
- #4,725
- Mar 12, 2014 12:02pm Mar 12, 2014 12:02pm
- | Membership Revoked | Joined Aug 2012 | 5,371 Posts
{quote} " frigging Irrelevant By product ".. lol
- #4,726
- Mar 12, 2014 2:49pm Mar 12, 2014 2:49pm
oh god all fib lovers are gonna be allover me now.. lol its just a joke folks.. maybe a fact in empires book, but still a joke
Kinda weird day today GBPUSD had a hourly close below 1.6600 but shot right back up.
USDCAD bullish 4 hour close above trendline and went straight down after...
- #4,727
- Mar 13, 2014 3:06am Mar 13, 2014 3:06am
- | Membership Revoked | Joined Aug 2012 | 5,371 Posts
I placed this trade last night before going to bed (who said, don't trade Asian ) and woke up to this.
There was also a similar great pin bar setup on audusd daily last night, but I thought I'd be clever and set a pending order for about a third to halfway down the pin and guess what...
) and woke up to this. There was also a similar great pin bar setup on audusd daily last night, but I thought I'd be clever and set a pending order for about a third to halfway down the pin and guess what...
- #4,729
- Mar 13, 2014 8:52am Mar 13, 2014 8:52am
Hey guys,
I haven't posted in awhile.. been busy with a move and getting settled in to a new place.
Haven't had much time for trading, and even then haven't seen many setups that I like.
Today I was really patient waiting on this one..
EURAUD short.. saw the potential for a setup at London and had to wait, as anticipated, for NY open to hit my sell level.
Double top in a down trend on the 15m with a decent confluence zone right above it (daily pivot S1 becoming resistance, round number 1.54250, and 50% fib)
Sold first position at NY open (+65 pips)
Sold a 2nd position (+35 pips) when the double top was confirmed
And closed both when my target was hit based on a price harmonic that lined up with some support area.
It's nice when everything goes as expected and doesn't take much time to hit your target.
I haven't posted in awhile.. been busy with a move and getting settled in to a new place.
Haven't had much time for trading, and even then haven't seen many setups that I like.
Today I was really patient waiting on this one..
EURAUD short.. saw the potential for a setup at London and had to wait, as anticipated, for NY open to hit my sell level.
Double top in a down trend on the 15m with a decent confluence zone right above it (daily pivot S1 becoming resistance, round number 1.54250, and 50% fib)
Sold first position at NY open (+65 pips)
Sold a 2nd position (+35 pips) when the double top was confirmed
And closed both when my target was hit based on a price harmonic that lined up with some support area.
It's nice when everything goes as expected and doesn't take much time to hit your target.
- #4,730
- Mar 13, 2014 9:37am Mar 13, 2014 9:37am
- Joined May 2013 | Status: Trader | 1,997 Posts
Passion, Persist, Patience, Protect
- #4,731
- Mar 13, 2014 10:05am Mar 13, 2014 10:05am
FXEmpire, what is your thought process for entering a trade?
Your charts look like you wait for price to trade above a resistance level then come back down for a sell and vice versa for a buy?
But I'm sure there's more to it, if that's even a part of it at all, and I would appreciate your insight
Thanks
Your charts look like you wait for price to trade above a resistance level then come back down for a sell and vice versa for a buy?
But I'm sure there's more to it, if that's even a part of it at all, and I would appreciate your insight
Thanks
- #4,732
- Mar 13, 2014 10:39am Mar 13, 2014 10:39am
- | Membership Revoked | Joined Aug 2012 | 5,371 Posts
eurusd is just acting silly and most likely will hit my stop and then shoot down, at this point I am just looking for a pullback to make a survival exit. ( but i think our good friend Jen001 in here has rooted against me on this, .. shhhhhh, it's really justhis/her fault, lol)
. Good recovery 
.
- #4,733
- Mar 13, 2014 10:59am Mar 13, 2014 10:59am
- Joined May 2013 | Status: Trader | 1,997 Posts
FXEmpire, what is your thought process for entering a trade? Your charts look like you wait for price to trade above a resistance level then come back down for a sell and vice versa for a buy? But I'm sure there's more to it, if that's even a part of it at all, and I would appreciate your insight
When you look at my chart you may see many levels but I only trade off the ones that fits the most to that given condition.
The last minute confirmation of a selected level to trade off from is based on firstly, how it approaches it (not too hard and strong coming at it) , how it reacts to it (how far it breaks beyond it.. look more like a bounce off or failure), and how it resumes back inside the level for the entry point (not too far out with clue candles such as in direction pinb, engulf or just a simple bold one).
in summery i look for big guys to make all their dicking around with everyone and when they are ready to unload for real then I be with them.. or so I think, lol.. anyhow that's the idea.. which without solid pre planed trade/risk management would be somewhat worthless.
I hope it serves good.
Passion, Persist, Patience, Protect
- #4,734
- Mar 13, 2014 11:05am Mar 13, 2014 11:05am
- Joined May 2013 | Status: Trader | 1,997 Posts
{quote} Sorry
can I call you jenny?.. lol... jk
Passion, Persist, Patience, Protect
- #4,736
- Mar 13, 2014 11:57am Mar 13, 2014 11:57am
- | Membership Revoked | Joined Aug 2012 | 5,371 Posts
{quote} not a recovery yet.. they look like coming to my entry, which sucks but that's the way it goes.. thx anyways. can I call you jenny?.. lol... jk
.My eurjpy short hit BE but I re-opened it. I closed nzdusd short earlier for 1 pip because I was getting pissed off with it; not sure what it's going to do. Yes, tough week.
{quote} Wasn't quite the pin bar I had hoped for, but I still went for it this morning. PA looked better on H4. {image}
- #4,738
- Mar 13, 2014 12:55pm Mar 13, 2014 12:55pm
- | Membership Revoked | Joined Aug 2012 | 5,371 Posts
short on EURCAD M15 blue line is MA(600) TP=SL=last swing your thoughts?{image}
- #4,740
- Mar 13, 2014 4:14pm Mar 13, 2014 4:14pm
- Joined May 2013 | Status: Trader | 1,997 Posts
short on EURCAD M15 blue line is MA(600) TP=SL=last swing your thoughts?
MA 600? good god.. more power to you my friend, I hope it works out for you on consistent basis.
nice job on tp.
Passion, Persist, Patience, Protect