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  • #41
  • Mar 15, 2015 7:51pm Mar 15, 2015 7:51pm
Quoting thegmann
{quote} Yes but past performance doesn't guarantee the future. There is room for downside as well as further upside best to sit aside and let market decide what the right way is rather than trying to pick bottoms etc. and then go with the market. I am also long biased on GBP vs the crosses in the long term but could be wrong and will let PA decide and will take the trade in whichever direction it goes. We're at critical levels here price can go either way.
Okay. So we don't agree, then? Ha ha, I saw your analysis above, so I already knew that

You don't believe past performance guarantees future performance? No kidding. But there is a certain amount of this belief in any trade you take. Otherwise, a candle stick pattern you use to enter, would mean nothing. If you enter on a candle stick pattern, it is projecting a belief in regards to price movement.

There is room for different opinions. No need to try and shoot down mine. We both posted an opinion, I think no need to go back and forth, when we already know we don't agree. Peace.

Edit: I also agree with you on this being a critical level. And I also think if my SL is hit, I could just go short. Key levels are the only levels where one could consider entering trades without PA confirmation, imo. I also know very successful traders who enter trades all the time without PA confirmation, but also using technical analysis
  • #42
  • Edited 9:36pm Mar 15, 2015 9:24pm | Edited 9:36pm
Quoting benaiah
{quote} Okay. So we don't agree, then? Ha ha, I saw your analysis above, so I already knew that You don't believe past performance guarantees future performance? No kidding. But there is a certain amount of this belief in any trade you take. Otherwise, a candle stick pattern you use to enter, would mean nothing. If you enter on a candle stick pattern, it is projecting a belief in regards to price movement. There is room for different opinions. No need to try and shoot down mine. We both posted an opinion, I think no need to go back and forth,...
ok

In short GA on retest of 1.93145 SL above resistance at 1.9381 targeting 1.92600 and below. That huge 300 pip engulfing candle on daily is hard to ignore i'm targeting a test of 1.92 again sometime this week will see PA there and look for longs if broken will look for larger retrace and further shorts.
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  • #43
  • Mar 15, 2015 9:38pm Mar 15, 2015 9:38pm
Quoting benaiah
I also know very successful traders who enter trades all the time without PA confirmation, but also using technical analysis
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I just want to point out that these channel supports are hardly connecting. These channels were drew incorrectly. These supports points are not valid not to mention your second GJ support point hasn't even hit yet.

PS
Your GN support is already gone out the window as we are speaking.

Although i am not a fan of depending on channels, I am pretty sure GA has broken under it's channel. No buys unless it comes back above its channel support.
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If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #44
  • Mar 15, 2015 9:42pm Mar 15, 2015 9:42pm
Quoting FXSayWhat
{quote} {image} {image} I just want to point out that these channel supports are hardly connecting. These channels were drew incorrectly. These supports points are not valid not to mention your second GJ support point hasn't even hit yet. PS GN support is already gone out the window as we are speaking.
GN near 2.005/4 support zone now watching here if break could be substantial drop.
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  • #45
  • Mar 15, 2015 9:47pm Mar 15, 2015 9:47pm
Quoting thegmann
{quote} GN near 2.005/4 support zone now watching here if break could be substantial drop. {image}
So once again, we are back at the 2.000 level this week. =)
I am done for now. Be back in couple hours.

Cheers guys. Thank you all for join my thread.

Be careful out there!
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #46
  • Mar 15, 2015 9:50pm Mar 15, 2015 9:50pm
GN is looking like my trade for the week. if it can break down below this base i think its good for 1.956 at least thats the play im making
  • #47
  • Mar 15, 2015 10:29pm Mar 15, 2015 10:29pm
Quoting FXSayWhat
{quote} {image} {image} I just want to point out that these channel supports are hardly connecting. These channels were drew incorrectly. These supports points are not valid not to mention your second GJ support point hasn't even hit yet. PS Your GN support is already gone out the window as we are speaking. Although i am not a fan of depending on channels, I am pretty sure GA has broken under it's channel. No buys unless it comes back above its channel support. {image}
Okay.

For you to say my channels are incorrect, I could just as easily say you are incorrect in that assessment.

But I won't say that, since I believe there are many ways to draw channels, and many ways to trade. Anyone who thinks that others are wrong just because they do things differently or have a different opinion, is narrow minded and will have difficulty expanding their view on things.

The thing about channels, which is also true about trend lines or S/R levels - They constantly change. When a channel is broken, a new channel could be formed. Or, the old channel could be reaffirmed.

For example, if the channel boundary is tested again from the other direction, it could still remain a valid "level". Also, If one side of a channel, i.e. trend line has 2 touches (one from each direction) and price has bounced off the other side of the channel at least one time, it could be the start of a new channel, within the proper context, for example, if a new high or low was created.

I do not view channels the same way as you do, or probably the same way as many traders do. For example, in your chart, you have ignored that your bottom channel line was broken. That is your choice. I choose not to ignore that, and assume that the new "channel level" that was formed will hold.

But of course, as you point out the channel "as I drew it" has been broken as well. However, I am still in the trade because I have given it some room. I do not assume price will "perfectly" respect any level I or anyone else draws, and I understand we are dealing with probabilities, and approximates here, not an exact science. And it may not be clear exactly what the true boundaries are until it makes another couple of swings. We'll see.

If I am stopped out, then of course there would be a possibility that I'd need to redraw my channel level. But price could still make it back above it, and go up from there. In fact as I write this, the GA price is back above my channel level. My view is, so far so good. We'll see what happens from here.

Oh, and yes, I was stopped out on my GN trade. It does happen, since as you know nothing is guaranteed. If you get stopped on a trade, does that mean your analysis is flawed? You could analyze everything perfectly on any given day, and still get stopped out.

However, if my GA trade works out, then I assume you'll congratulate me on that?

Anyway, I don't post much on FF, for a few reasons, one of which is that this back and forth on being right or wrong when someone else has a different view is wearisome, and a waste of time imo. Is it about sharing views? And learning from each other? Or do we feel like we have to be right all the time, and if there is a different view, then it must be unacceptable or incorrect. Nobody knows everything. And nobody likes to be around a know-it-all.
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  • #48
  • Mar 15, 2015 10:35pm Mar 15, 2015 10:35pm
Quoting thegmann
{quote} ok In short GA on retest of 1.93145 SL above resistance at 1.9381 targeting 1.92600 and below. That huge 300 pip engulfing candle on daily is hard to ignore i'm targeting a test of 1.92 again sometime this week will see PA there and look for longs if broken will look for larger retrace and further shorts. {image}
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  • #49
  • Mar 15, 2015 10:41pm Mar 15, 2015 10:41pm
Quoting benaiah
{quote} Okay. For you to say my channels are incorrect, I could just as easily say you are incorrect in that assessment. But I won't say that, since I believe there are many ways to draw channels, and many ways to trade. Anyone who thinks that others are wrong just because they do things differently or have a different opinion, is narrow minded and will have difficulty expanding their view on things. The thing about channels, which is also true about trend lines or S/R levels - They constantly change. When a channel is broken, a new channel could...
? what are you saying dude your making no sense you just posted a picture of a channel that is completely broken with closes below it...How did you even decide to make that a channel on the bottom it touches one single tiny bottom of a candle stick pattern not even two points or w/e you said a channel needs for you? Your taking this way to personal FXSayWhat was just trying to help you out and provide some guidance, something you seem to do very poorly at taking. YOUR coming accross as a "know it all" who refuses to take feedback/questions regarding their charts and go into super defense mode.
  • #50
  • Mar 15, 2015 10:52pm Mar 15, 2015 10:52pm
Quoting thegmann
{quote} ? what are you saying dude your making no sense you just posted a picture of a channel that is completely broken with closes below it...How did you even decide to make that a channel on the bottom it touches one single tiny bottom of a candle stick pattern not even two points or w/e you said a channel needs for you? Your taking this way to personal FXSayWhat was just trying to help you out and provide some guidance, something you seem to do very poorly at taking. YOUR coming accross as a "know it all" who refuses to take feedback/questions...
Not sure how I'm a know-it-all. Did I tell anyone they were wrong? I simply posted a couple charts and trades. You've responded with a "your way is better" post. So what? If you think your way is better, I have no problem with that. But I don't agree with you. So what? Does everyone have to agree with you? You seem to have an issue every time I post something that doesn't agree with you. You have to post that your way is the right way.

So, if I tell you that you are wrong, or that my way is better, where does that lead? I've seen many successful traders trade many different ways. I do not understand why anyone thinks they have a monopoly on the "right way to trade".

Also, I'm done explaining how I drew the channels. Plus there is more to it, as I also analyzed the daily chart as well. If it doesn't make sense to you, I have no problem with that.
  • #51
  • Mar 15, 2015 11:05pm Mar 15, 2015 11:05pm
Quoting benaiah
{quote} Not sure how I'm a know-it-all. Did I tell anyone they were wrong? I simply posted a couple charts and trades. You've responded with a "your way is better" post. So what? If you think your way is better, I have no problem with that. But I don't agree with you. So what? Does everyone have to agree with you? You seem to have an issue every time I post something that doesn't agree with you. You have to post that your way is the right way. So, if I tell you that you are wrong, or that my way is better, where does that lead? I've seen many successful...
Please show me where I ever said your way was "wrong". I may have asked you to explain something or gave a suggestion but never did I say your view is wrong. I posted my view as well you just assume if anyone posts their view that it means your view is wrong? I don't understand how/why you did what you did and usually when someone posts something you don't understand you ask them to explain it, well you have yet to do that so I guess your explanation is just that "it's your way of doing it" ok fine i'm done asking anyways I feel like any time anyone posts anything or says anything to you you blow up and go crying it's rather annoying but i'm done that's what the block bottons for and thats where you will be, have never had to block anyone you will be my 1st congrats. Sorry FXSayWhat for this drama but its silly when someone who clearly has no clue wtf they're doing tries to post BS for other traders and refuses to acknowledge guidance from someone(the OP of this thread) clearly more experienced who is just trying to help.
  • #52
  • Mar 15, 2015 11:26pm Mar 15, 2015 11:26pm
Quoting thegmann
{quote} Please show me where I ever said your way was "wrong". I may have asked you to explain something but never did I say your view is wrong. I posted my view as well you just assume if anyone posts their view that it means your view is wrong? I don't understand how/why you did what you did and usually when someone posts something you don't understand you ask them to explain it, well you have yet to do that so I guess your explanation is just that "it's your way of doing it" ok fine i'm done asking anyways I feel like any time anyone posts anything...
What has confused matters is that you are jumping in to defend FX, which was none of your concern. His post said my channels were wrong. My attempt to explain them has been misunderstood by you. The "your wrong" reference was to his post. If you are defending him in your post, then please remember that was the topic at hand.

On to the next topic. You want to ignore me? That is your choice. To be honest, I've been resisting putting you on ignore ever since I read your first few posts. Seems like every time you post, you have to say "it's better to do something else". You can't seem to just share an opinion without disagreeing or "implying that someone else is wrong". But I tried to give you the benefit of the doubt, as you didn't seem to realize how you were coming across in your posts.

We can call it a truce, and keep trying to communicate, if/when opportunities arise. Or we can ignore each other. It's your choice.
  • #53
  • Mar 15, 2015 11:31pm Mar 15, 2015 11:31pm
Also. FX -

If I've offended you in any way I apologize. My only problem is when people jump to conclusions about stuff they don't understand. In regards to my channel drawing, I've picked up pointers from someone who has many, many years of experience, and gives trading calls to hedge funds. His trading is unorthodox, but very successful.

Again, I don't claim to know more than anyone else. I'm still learning. Perhaps, a better approach for me would have been to simply thank you for your view, although I disagree, and just leave it at that.

Kind regards
  • #54
  • Mar 16, 2015 12:31am Mar 16, 2015 12:31am
Quoting benaiah
if my GA trade works out, then I assume you'll congratulate me on that?
I'd say there is just no any better way to curse your position by saying / betting such thing. Let's not do that to each other, at least not in here.
I pointed out your trend channel isn't something I would agree, and i still believe your trend channel needs a thing or two to work on.

Anyway, that's just my saying. Thank you for sharing your thoughts, but i just cannot agree with on on these. Nothing personal tho.

Maybe someone else would find it insightful. That's great.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #55
  • Mar 16, 2015 12:58am Mar 16, 2015 12:58am
Quoting thegmann
{quote} Please show me where I ever said your way was "wrong". I may have asked you to explain something or gave a suggestion but never did I say your view is wrong. I posted my view as well you just assume if anyone posts their view that it means your view is wrong? I don't understand how/why you did what you did and usually when someone posts something you don't understand you ask them to explain it, well you have yet to do that so I guess your explanation is just that "it's your way of doing it" ok fine i'm done asking anyways I feel like any...
Take it easy, thegmann.

I fully appreciated the effort you made. I understand you very well too.

Not everybody is at the same level of understanding the market. Disagreement didn't have to be resolved all the time. It's only a references.

Cheers.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #56
  • Mar 16, 2015 1:01am Mar 16, 2015 1:01am
Quoting FXSayWhat
{quote} Take it easy, thegmann. I fully appreciated the effort you made. I understand you very well too. Not everybody is at the same level of understanding the market. Disagreement didn't have to be resolved all the time. It's only a references. Cheers.
yeah im all good entered short GN here's my setup for anyone interested. See if we can catch the breakout here. Bit premature but we'll see.
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  • #57
  • Mar 16, 2015 2:15am Mar 16, 2015 2:15am
GZ on 2.0050
GJ on 179.00
GA on 1.9300

All are waiting for a technical break0out.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #58
  • Mar 16, 2015 2:28am Mar 16, 2015 2:28am
I really don't like the PA on GN. It's moving as if it has reached its intra-day bottom at 2.0050 after Tokyo's drop.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #59
  • Mar 16, 2015 4:14am Mar 16, 2015 4:14am
Entered long GBPNZD and long GBPAUD position at the close of the last candle. This is done on the 1h TF. Tipping my toes in the water before diving in. Scaled down both positions.

If the water is nice and warm, at the close of the 4h candle in about 45 minutes, positions will be scaled up if entry signal is given at the 4h candle.
Do not let the cost of being wrong, exceed the prize of beeing right
  • #60
  • Mar 16, 2015 10:22am Mar 16, 2015 10:22am
Quoting thegmann
{quote} yeah im all good entered short GN here's my setup for anyone interested. See if we can catch the breakout here. Bit premature but we'll see. {image}
closed out my shorts before went to bed the other night on GN for like 5-6 pips it was ranging too much for my likes. Seems like we got nice spike back up, would have been nice time to get back in but sleep was calling lol looks like price is righ back where we started too now waiting on breakouts again.... Was over 100 pip on both GN and GA to be had shorting that spike up before easy money if awake/at comp to take it.
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