Hello all! It looks like promising. What do you think. {image}
? I think not.
If not up, then down, otherwise sideways :-)
james16 Chart Thread
- #132,122
- Sep 5, 2014 1:49am Sep 5, 2014 1:49am
{quote} Do you think it worth trading looking on the bigger picture
If this pattern will be - PB, so:
We have 3+:
- Fibo level 61.8
- Resistance 105.32
- Divergence on the MACD
But we have 2-:
- Our trend is UP-TREND
- Our price closed above 105.24 and was retest at 105.24 with 105.22 price (like Jarro's method)
- #132,126
- Sep 5, 2014 3:30am Sep 5, 2014 3:30am
{quote} Do you think it worth trading looking on the bigger picture
PS: Hey, people. I just noticed that its today's bar, that is still forming. No decisions could be made now.
If not up, then down, otherwise sideways :-)
- #132,129
- Sep 5, 2014 4:16am Sep 5, 2014 4:16am
{quote} Hi yawla, I`m long
I think the first resistance in your free space at 97.06 price where we can see our retest at 95.69 and go long again.
- #132,131
- Sep 5, 2014 7:43am Sep 5, 2014 7:43am
- | Joined May 2010 | Status: Trader | 1,100 Posts
{quote} Hey Mike, Yup, Im still in this one. Looking for the 'new' pattern to push price lower. However if price does move to the upper trendline, could look to see a break upwards using the BRN. {image} Also another chart that needed a little 'adjusting'
Did not take this one simply because I missed it .. but nice to see price do what we expected. Hope this helps the guys who have been PM'ing me
If you have a look at the before post you will see the importance of being picky and patient. This setup took 2 months to form from the previous chart.
Take care
Dan
what do you guys think about below PB on Aud Usd chart? i see a good shaped PB, with nose protruding outside the neighboring candles, FTA is far enough, 3rd touch on a descending TL, PPZ at 0.9370. To me it confirms that price is being strongly rejected below 0.94. Would it be wise to go with a sell limit around left eye, or a sell stop below the low? thanks in advance. {image}
2. If we had no news personally I would have entered here:
Personally I dont like taking the break of the pin. Experience with it and then you will know which entry is fixing for you.
For me it's like selling when it's already sold. (I know though that the james16 basics teach you to enter there.) Nowdays price liked to take out lows and highs and turn around. (=stophunts). With my sell stop entry below the low (=break of the pin) - i might get cought in a hunt, which I dont want.
But just as I told you - scroll back - check 100 pins, compare which entry method would have worked for your trading style better.
Cheers
Stephen
It's all psychology...
{quote} Update:
It's all psychology...
{quote} you see none, because we don't trade the same strategy. I can post the setups but then it is after the fact. So any setup that moves and pointing it after the fact doesn't help. But just to give you an example. Below pairs had the setups which i missed. The reason is that yesterday there were major impact news on below pairs. This is part of planning. EUR/AUD CAD/CHF CHF/JPY GBP/USD GBP/AUD GBP/CHF I just wasn't trading FOREX yesterday as i was not well. But don't you just hate it when you miss good volatile moves. Anyways on the to next...
a) You could trade the news after they came out and take some profit.
b) You could fade the news on some pairs at specific levels.
That's all. If ECB decided to do some rate hike - now you would thanking to god, that you missed that day...
News can be ignored but dont ignore the HUGE ones.
It's all psychology...
- #132,139
- Sep 5, 2014 2:21pm Sep 5, 2014 2:21pm
Hello all! It looks like promising. What do you think. {image}
Though its against the major trend....
Have a nice day
- #132,140
- Sep 5, 2014 2:42pm Sep 5, 2014 2:42pm
{quote} Hi, I think the first resistance in your free space at 97.06 price where we can see our retest at 95.69 and go long again. {image}
Have a nice day