And a very nice box on the SGD looks we`ll have a break to the south
Attached Image (click to enlarge)
james16 Chart Thread
- #138,763
- Mar 11, 2016 3:32pm Mar 11, 2016 3:32pm
Here's my take on U/C from here. Price will retrace upward to the first gold line where i will be looking for a short order, based on PA at this area. I don't know if price will retrace to the 2nd gold line, or somewhere in-between, but going on the deep retrace yesterday it could very well do but i have my doubts (famous last words). From there price should move down to the 1.32 - 1.312 area where i will re-evaluate based on the then current PA. I will be looking to short at least twice on it's way down
Gotta love PA, J16 bars and S&R, combined it's a force to be reckoned with. May the force be with you...
Have a great weekend
- #138,765
- Edited 2:45am Mar 14, 2016 1:58am | Edited 2:45am
EUR/CAD D1 BUOB coming off the 200sma. Got most of the retrace.
Have placed SL just below the 200sma AND the low of the Friday bar and the TP just below the 1.490 BRN and the 100sma.
Early days and the European sessions are about to open (could get wild) but so far i have 2 entries and if all goes according to plan will add some more later. I may also target the 1.500 BRN as a profit area depending on PA at the 1.488 - 1.490 area.
EUR/NZD 8h BUOB. Similar setup to the above one. Got most of the retrace coming off a PPZ/1.650 BRN. 2 entries also so far.
See how they go...
EDIT: Ha-ha, the Euro session opening never fails to deliver volatility!
Have placed SL just below the 200sma AND the low of the Friday bar and the TP just below the 1.490 BRN and the 100sma.
Early days and the European sessions are about to open (could get wild) but so far i have 2 entries and if all goes according to plan will add some more later. I may also target the 1.500 BRN as a profit area depending on PA at the 1.488 - 1.490 area.
EUR/NZD 8h BUOB. Similar setup to the above one. Got most of the retrace coming off a PPZ/1.650 BRN. 2 entries also so far.
See how they go...
EDIT: Ha-ha, the Euro session opening never fails to deliver volatility!
- #138,768
- Edited 5:03pm Mar 14, 2016 12:59pm | Edited 5:03pm
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
- #138,770
- Edited Mar 15, 2016 12:55am Mar 14, 2016 6:08pm | Edited Mar 15, 2016 12:55am
Short AUDUSD at 0.7485. {image}
I ask because i have just gone long.
EDIT: I have to confess that i took a long trade based on someone's recommendation! I rarely do that and when i have it usually goes wrong, hence my wanting your reasoning
Update on my previous post:
EUR/CAD struggling to gain any traction. In a smallish loss atm but things still look ok for upward movement soon.
EUR/NZD in nice profit but at a double resistance, 200sma on the D1 (already been rejected) + a PPZ/BRN (1.670) looming.
Have moved to profit but want to move through these before considering a 3rd long entry.
{quote} Why Jake. Have you some solid confluence/reasoning or is it more hope that price will be rejected by the PPZ? I ask because i have just gone long. EDIT: I have to confess that i took a long trade based on someone's recommendation! I rarely do that and when i have it usually goes wrong, hence my wanting your reasoning
Hi Bill, looks like a decent setup you have there. We have had rejection off of the 7570 ish handle, a key level of support that has now turned resistance.
- #138,772
- Mar 15, 2016 2:59am Mar 15, 2016 2:59am
{quote} Hi Bill, looks like a decent setup you have there. We have had rejection off of the 7570 ish handle, a key level of support that has now turned resistance.
- #138,773
- Mar 15, 2016 3:36am Mar 15, 2016 3:36am
- Joined Jul 2011 | Status: Gold Again | 10,563 Posts
It takes a lot for me to IGNORE you, but you can try.
{quote} Jake, i have to agree that A/U looks bearish if anything. I just can't believe i would follow someone else's recommendation without first analysing it myself!!
- #138,775
- Mar 15, 2016 4:21am Mar 15, 2016 4:21am
{quote} Oh definitely not Bill. I just posted here to be honest to see people's views. It's great to see the differences of opinions even though we're all looking at the same thing haha. Respect to you sir.
So sorry man if it sounded like i was having a go at you, nothing could be further from the truth
Happy Days.
Bill
- #138,777
- Mar 15, 2016 5:03pm Mar 15, 2016 5:03pm
- Joined Jun 2013 | Status: Trader | 1,732 Posts
{quote} Jake, i have to agree that A/U looks bearish if anything. I just can't believe i would follow someone else's recommendation without first analysing it myself!!
{quote} Jake, when i was talking about following someone else's advice i didn't mean you haha. I was talking about an error i made yesterday by placing a long order on AUD/USD based on this other persons recommendation when i completely failed to analyse the trade myself. I simply had blind faith in this other persons analysis which is a mistake. I don't blame anyone, just annoyed at myself of course. So sorry man if it sounded like i was having a go at you, nothing could be further from the truth
