Hey Zohaib, I guess the one other thing I would be considering is that on the weekly chart you have a double bar low just a couple of bars to the left which are pretty much in line with the bar lows further to the left side of the chart (touching the trend line). To me that looks like a trouble area not far from where we are now, so I would personally prefer to have seen a bearish outside bar that closed below those bar lows on the weekly TF
james16 Chart Thread
- #132,829
- Nov 3, 2014 7:20am Nov 3, 2014 7:20am
Hi watching eu,double bottom,divergence,if it closes as a pinbar will take the trade. {image}
- #132,830
- Nov 3, 2014 9:03am Nov 3, 2014 9:03am
- Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts
Update on my existing positions. Good day1000+ pips last few weeks. Closed GBP/JPY with massive 800+ pips.
- #132,832
- Nov 3, 2014 10:16am Nov 3, 2014 10:16am
- Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts
meine augen sind die sterne
- #132,833
- Nov 3, 2014 10:21am Nov 3, 2014 10:21am
Hey guys. Staring at a loss on a EURAUD trade taken at the end of last week (thankfully only a demo account). Had considered closing the trade on Friday for a small profit as price had (virtually) reached my assumed first trouble area. However, decided against it and seem to be paying for that mistake today with price looking bullish. Have posted a copy of the chart below along with the rationale for the decisions made. Would be greatly appreciated if you guys could have a look and feedback on this.
Many thanks and regards,
J
Many thanks and regards,
J
- #132,834
- Nov 3, 2014 11:38am Nov 3, 2014 11:38am
Is anybody on the CAD/JPY pair ....it is a double bottom bearish outside bar on the 4hr / 2hr chart and FTA at BRN 100. If it breaks 100 there is a chance of moving further down. {image}
even if the daily bar will close as a pinbar i would stay out of this trade. massive downtrend since 6 months.
Hey guys. Staring at a loss on a EURAUD trade taken at the end of last week (thankfully only a demo account). Had considered closing the trade on Friday for a small profit as price had (virtually) reached my assumed first trouble area. However, decided against it and seem to be paying for that mistake today with price looking bullish. Have posted a copy of the chart below along with the rationale for the decisions made. Would be greatly appreciated if you guys could have a look and feedback on this. Many thanks and regards, J {image}
Price even stoped directly on support you and me drew. At least some price reaction was inevitable. But you are not yet on wrong trade. If price ends in blue box it will mean that price faked breaking bottom of box and is now in range but price can still bounce off from lower boundry of the box. Daily close will be important.
Attachment
- #132,839
- Nov 3, 2014 12:12pm Nov 3, 2014 12:12pm
Update on my existing positions. Good day
No seriously nice work mate Slow & steady
- #132,840
- Nov 3, 2014 12:17pm Nov 3, 2014 12:17pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
i know last week was an absolute blow out for most markets. I'm liking this as a time to sell. Reason isn't so much that I don't think we can go higher, i just think the upside if we retrace is much more volatile at this point Still we must play our charts here is one of my plays, i'm going to get involved in a few things Simple BEOB closing over a major swing point both on the weekly and monthly. If i'm wrong my downside is limited as the PPZ we are at should hold us I know my time here has been limited but i've been greatly enjoying all your posts....
price gapped up on the open which is perfect. Right into the PPZ making the entry simple.
Here is my morning chart to the PF where i entered
and current chart
again just using PA, location, simple S/R. It doesn't have to be more complicated then that, really it doesn't