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  • #221
  • Apr 19, 2014 11:15am Apr 19, 2014 11:15am
These are the pairs that were on my watchlist last week and still look viable for next week:

GBPCAD and GBPNZD broke the weekly IB to the upside: I'll be watching for price to return to the breakout area and observe PA there.
USDCAD broke the weekly pinbar to the upside. I'll be watching for bullish PA to signal continuation.
EURCAD briefly broke the weekly IB to the upside but is now back inside. I'll be watching this for a true breakout.
EURNZD has not really broken the IB. I'll be watching PA for true breakout.
NZDCAD, AUDCHF, CAD/CHF still stuck in the IB. Watching for breakout.
AUDJPY false breakout. Watching for true breakout.

I'll be scanning for new pairs.
  • #222
  • Apr 19, 2014 11:16am Apr 19, 2014 11:16am
Quoting Winston Reed
These are the pairs that were on my watchlist last week and still look viable for next week: GBPCAD and GBPNZD broke the weekly IB to the upside: I'll be watching for price to return to the breakout area and observe PA there. USDCAD broke the weekly pinbar to the upside. I'll be watching for bullish PA to signal continuation. EURCAD briefly broke the weekly IB to the upside but is now back inside. I'll be watching this for a true breakout. EURNZD has not really broken the IB. I'll be watching PA for true breakout. NZDCAD, AUDCHF, CAD/CHF still stuck...
By the way my broker is Oanda. So if you have a different broker and your bars look different that is why.
  • #223
  • Apr 19, 2014 12:04pm Apr 19, 2014 12:04pm
USDCHF has a setup for this week but I noticed some interesting previous PA worth pointing out.

Ignore the horizontal dashed red lines. The white lines outline BEOEB followed by an IB.

Attached Image (click to enlarge)
Click to Enlarge Name: usdchfweeklyexampleapril192014.png Size: 35 KB


Check out those daily pinbars. Cool.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfdailypinbarsapril192014.png Size: 40 KB
  • #224
  • Apr 19, 2014 4:54pm Apr 19, 2014 4:54pm
Hi Winston,

please, you trade in your area automatic (limit order) or waiting for any signal? your system look good

Please, is possible post here candle chart? when not, no problem .

Thank you,
  • #225
  • Apr 20, 2014 8:46am Apr 20, 2014 8:46am
Quoting Scalptrader
Hi Winston, please, you trade in your area automatic (limit order) or waiting for any signal? your system look good Please, is possible post here candle chart? when not, no problem . Thank you,
In post 223 USDCHF printed a beautiful weekly BEOEB. The following daily pinbars would have been played by placing a sell stop 10-15 pips below the pinbars.
  • #226
  • Apr 20, 2014 9:31am Apr 20, 2014 9:31am
Ok, thank you. You use only fixed sl tp or use too trailing? Sl is place classic like technic stoploss?

Thank you,
  • #227
  • Apr 28, 2014 9:52pm Apr 28, 2014 9:52pm
I am making an important change/addition to trading this method. I will be determining trading direction according to the weekly close occuring above/below the previous weekly high/low.

For example in this AUDUSD the weekly bar marked with the red arrow closed below the low of the previous weekly bar. Therefore this changes my directional bias to selling and I would be looking for price action signaling a sell. The next weekly bar is a pinbar and in this case a sell on the break 10-15 pips below the low of the pinbar would have been in order.

Attached Image (click to enlarge)
Click to Enlarge Name: audusdweeklyclosebelowapril282014.png Size: 29 KB


The daily chart shows some daily price action bars highlighted that would have been reason to add on to the trade. Trading bias would have been to the down-side until a weekly bar closes above the high of the previous bar.
Attached Image (click to enlarge)
Click to Enlarge Name: audusddailypriceactionbarsapril282014.png Size: 26 KB
  • #228
  • Apr 29, 2014 12:35am Apr 29, 2014 12:35am
Quoting Winston Reed
I am making an important change/addition to trading this method. I will be determining trading direction according to the weekly close occuring above/below the previous weekly high/low. For example in this AUDUSD the weekly bar marked with the red arrow closed below the low of the previous weekly bar. Therefore this changes my directional bias to selling and I would be looking for price action signaling a sell. The next weekly bar is a pinbar and in this case a sell on the break 10-15 pips below the low of the pinbar would have been in order. {image}...
Do the daily bars represent the highlighted weekly bar or the pin bar next to it? I ask this because the pin bar adjacent has a high higher than the highlighted weekly bar and a close similar to the highlighted bar. Yet the daily bars do not appear to reflect this.
  • #229
  • Apr 29, 2014 9:01am Apr 29, 2014 9:01am
Quoting imez
{quote} Do the daily bars represent the highlighted weekly bar or the pin bar next to it? I ask this because the pin bar adjacent has a high higher than the highlighted weekly bar and a close similar to the highlighted bar. Yet the daily bars do not appear to reflect this.
Hello Imez,
Hope this helps. The weekly pinbar is the bar with the highest high on this chart. The formation before the pinbar is actually a DBHLC. The lower close closed lower than the low of the previous bar and I believe this to be very important. The pinbar just confirmed. The higher high of the pinbar would have likely trapped buyers.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdweeklyimezexplanation.png Size: 30 KB


Attached Image (click to enlarge)
Click to Enlarge Name: audusddailyimezexplanation.png Size: 31 KB
  • #230
  • Apr 29, 2014 11:05am Apr 29, 2014 11:05am
Thanks for the explanation. I'll continue to follow this thread.
  • #231
  • Apr 29, 2014 12:21pm Apr 29, 2014 12:21pm
Nice to have you.
  • #232
  • May 2, 2014 8:56am May 2, 2014 8:56am
Weekly IB broke south. Close below low of previous weekly bar. This weeks bar looks like it may close below also.

Attached Image (click to enlarge)
Click to Enlarge Name: audusdweeklymay22014.png Size: 33 KB


Daily BEOEB signals were valid shorts.
Attached Image (click to enlarge)
Click to Enlarge Name: audusddailymay22014.png Size: 30 KB


H4 chart with more BEOEBs. Todays NFP/job rate sent it down. I was out before the announcement. Wished I would have stayed in. Oh well.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4may22014.png Size: 37 KB
  • #233
  • May 2, 2014 9:22am May 2, 2014 9:22am
What pair is this?
  • #234
  • May 2, 2014 9:28am May 2, 2014 9:28am
Quoting imez
What pair is this?
AUDUSD. It's in the top left hand corner of the charts.
  • #235
  • May 2, 2014 7:44pm May 2, 2014 7:44pm
Weekly, Daily and H4 pinbar action. Interesting. Any thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: audusdweekly522014pinbar.png Size: 33 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audusddaily522014pinbar.png Size: 28 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audusdh4522014pinbar.png Size: 32 KB
  • #236
  • May 2, 2014 8:32pm May 2, 2014 8:32pm
Quoting Winston Reed
Weekly, Daily and H4 pinbar action. Interesting. Any thoughts? {image} {image} {image}
The weekly candles are headed south. A doji has formed. The daily chart has a long tailed bullish pin bar. I think one may either buy at a close above this candle, or to maximize profit and reduce risk, one might place a limit order at and wait for a 50% retrace of the pin bar tail. Just my thoughts...
  • #237
  • May 4, 2014 9:15am May 4, 2014 9:15am
Hui Winston,
This is a weekly chart of GBP/JPY. What do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_20140504_133036.JPG Size: 63 KB
  • #238
  • May 4, 2014 7:34pm May 4, 2014 7:34pm
Hello Imez,
This is my GBPJPY chart. The current candle on my chart is not BUOEB. I did point one out. A BUOEB is one where the high and the low completely engulf the previous candle.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyweeklyimez.png Size: 31 KB
  • #239
  • May 5, 2014 3:00pm May 5, 2014 3:00pm
Quoting Winston Reed
Weekly, Daily and H4 pinbar action. Interesting. Any thoughts? {image} {image} {image}
Hi Winston,

I am still learning but will take a try as this one.

The Daily and H4 may be showing pinbars which may indicate the possibility that price is at a point where it might reverse and start to move up again.

However, our Weekly bias is still down as we have not had a weekly close occurring above the previous weekly high, after the 20/04/2014 weekly bar that gave us a down bias.

So, as long as the weekly bias is down we will only be looking for selling opportunities.

Regards
  • #240
  • May 5, 2014 4:53pm May 5, 2014 4:53pm
great thread, I'll be following your posts. Really interesting.


thanks
Toni
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