Here is my weekly market review video
1 Like
Big opening moves against the Yen, if these number hold overnight we could have some nice opening gains in Stocks and Commodities
Good article by Nial Fuller
Watching Charts Intraday Will Harm Your Trading Results | » Learn To Trade
1 Like
The big gains against the yen we saw early Sunday trading did not hold, GBP is back from the dead, USD has taken itâs place.
Finally after two weeks of price trading on top of the 200 dma we get a move lower, I am short this, breakeven stop is in place so just enjoying to show. I would love to ride this down to 1.4500 but with the uncertainty of the brexit vote, I might just take some quick profits
EURAUD daily
NZD over takes JPY, and as expected Euro hits bottom, It sure does seem like all the weakness in the Euro is being priced in before the Brexit vote, we could see a big reversal after the vote
Yeah I wouldnât use this scam artist as some sort of authority on anything.
[QUOTE=BardBardy;773123]Yeah I wouldnât use this scam artist as some sort of authority on anything.[/QUOTE
Bard, are you speaking from personal experience , would you like to elaborate. Such a charge needs to be supported
AUDUSD today gave a nice pin bar reversal at resistance, two ways to play it. short entry after a 50% retrace of Tuesdayâs candle or if you donât get the retracement, short on Wednesdayâs blue candle turning red. In both cases stop would be a few pips above Tuesdayâs pin bar high, it is only a 65 pip pin bar so not a ton of risk. Better yet do both, take a half position at 50% retrace and add the other on Wednesdayâs candle turning red
AUDUSD daily
1 Like
Sure am speaking from personal experience. Guy sells a course you can find on Babypips for a few hundred bucks and is never in his own forum to answer your questions. He calls the Hikkake candlestick pattern a fakey which is his proprietary set up yet never once mentions the fact that Daniel Chesler discovered this pattern and published it in a few trading journals. And he is absolutely oblivious to price action trading because calling price action ânoiseâ because itâs on a 5 minute chart is ignorant on his part because many professional traders trade on these intraday timeframes with success. He supposedly won a million dollar contest through Axi trader which has sponsored him for a number of years now. He tauts this now as if he won a real contest making 5 trades and a 78% drawdown not to mention the fact again that him and Axi trader have a business relationship for years. All he teaches is 3 candlestick patterns. All of which you can find on baby pips. This isnât price action. This isnât a pro. Itâs a charlatan.
no change in positions from yesterdayâs SW, I am seeing a lot of action in early Thursday trading
Yesterday I pointed out a daily Pin bar reversal in AUDUSD, well today price reversed in the other direction closing 1 pip below the resistance line of 0.7500
Early Thursday trading has price now above 0.7500 , this sure looks like a failed pin bar, but I need to see a daily close above 0.7500 to put the final nail in the coffin. I am out of this trade but could be back in if price again reverses and moves below 0.7500
Good entry and an unlucky result (so far) ⊠:33:
[quote=âBardBardy,post:191,topic:77959â]
Hi Bard, being this is my thread I will take the last word on this matter, I have never paid for any services from Nial Fuller, nor have I recommended others do so. I am signed up for email notices of newly posted articles on his free site. His articles I personally find informative, most of his articles deal with the phycology of trading, and those I would recommend others read. His way of looking at price action on daily charts fits nicely with my own trading style. Now if you still want to trash talk the guy, maybe you could start a new thread and get a wider point of view. For me, I will continue to read his articles and post links here for those articles I feel complement my way of trading
2 Likes
[quote=âDennis3450,post:195,topic:77959â]
Hey Dennis happy trading.
Hey Dennis I noticed this post, why do you think that is a resistance level? How do you define a support or resistance level? This is the same pair and timeframe
Iâm not sure that would qualify as a resistance level.
AUDUSD pin bar reversal has been a bust, but the reversal off of 200 ma in the EURAUD has been a hit
Love to talk support/resistance, Looking at AUDUSD daily, back in March when price cleared 0.7500 it then pulled back and stopped at 0.7500, 2 weeks later it again pulled back to 0.7500 and held, this I then noted it as support. In early May when price closed below 0.7500 former support now becomes resistance, and we see 0.7500 resistance held in May and twice this month, With so much action around this price I would view it as major support/resistance, so donât be surprised if the current rally in AUDUSD pulls back and finds support again at 0.7500
Note; I like to draw my support/resistance lines on large even numbers ( 0.7600, 0.7700 ⊠0.8000 and so on) large even number have a way of acting as support and resistance. This is why when trading stocks most experts will tell you not to put your sell stop order on a price like 50.00 or 60.00
big moves today against the Yen, I will be using this yen pair rally to look for a short opportunity
I just picked up a fast 66 pips in NZDJPY on the first 15 min of the new daily candle, price is now pulling back from the 200 dma, will we get a full reversal?
