I don’t know how many spikes like that you really get in the Asian session. They’re pretty obvious in the London and NY sessions but they’re not always immediate spikes…they can be fakeouts lasting 1-2hrs+ sometimes. If at all, they’d be more likely to stop hunt the 1.63 area. ALso Asian session often retraces.
Just look at GU 4h chart. Note the spikes before every major reversal. This “waiting game” might last till London Breakout Time. :D:D
Well I’ve had a short at 1.6220 all day and 100 pip stop. so I don’t think the hunters will get me.
Can you show me that on a chart? I’m still new enough that I’m not good at spotting things like that. Show me what a spike before a major reversal looks like
That means you’re only 5 pips above danger zone.
hmm? explain please
you mean a spike may go up 100 pips from where it’s at now ?
How much was the last spike, today…on 4h chart…?
4 candles back incl. present one.
68 pips.
That 1.6300 area is major S&R…I mean major.
ok, so that’s what you mean by a spike, the whole candle? or just the tall wick part? the whole candle was 136 pips.
give me some advice, is my sell in a good spot? should I set my stop more like 150 pips?
or would it be better to close my sell and try to ride the spike up ? and then back down ?
CAS
Is this the spike we are looking for
John
that’s my question also. and will it go higher? well I closed out my earlier sell and got most of that spike. close to 40 pips but not enough to make up for what I lost earlier. But the night is still young
I think i might go long at 1.6345 or so…
I dunno, it shot up then went horizontal at the top, I tried trading it a little up there but lost a little. I’m staying out for a little while till I see some sign of direction. Although it is kind of angled up a little bit, just kind of slow
Wow… what happened I went to sleep for a few hours and woke to the 23th Elliott Wave!
Now I’m really confused and wonder how the week will end? I’ll bet there’s a story brewing out there… and will know soon enough…
Just got home from work, G/U Looks like its Doing nothing…who wants to look at E/U With me ! =D lol
MikeG
Okay so 15m on G/U has Crosses going again…but 1h just doesnt wanna move…just not promising enough =(
Dunno where the heck you guys are…but i just picked up 34 pips Long on G/U…We may see a sharp reverse here so get ready too ride the rollar coaster down. =)
Mike G
You’re doin better than me MG
Doubt that TalonD i mean…Your a great guy and I can’t beat someone whos GREAT! haha =)…I think im starting to learn a little bit more…its already reversed on my 15m chart…no crossing yet though…im gonna wait it out before i make a short position.
MikeG
P.S. Just checked my 15m…we have a 25 pip reverse…really keep an eye on it…I may enter in another 5-10 pips short…
I’ve got a 1h strategy and if I was really great and followed my own strategy I would be up 550 pips in the last 60 hours. but I keep screwin up trying to make smaller gains in the 15m. someday I’ll learn my lesson.
I call my 1h strat the Red Prime. MAs are all red, 3, 5, 7, 11, green price line, no candles. trade when the reds cross center bollinger. a blue 63sma gives the larger trend, be careful trading when it is horizontal thats ranging not trending. the reds are lwma
according to that strat, I should still be in a buy right now, but it’s kinda late to get in at this point. still looking for the downturn.
Sounds awesome =) i’ll have to try it on a different pair sometime…Im still using carters/miguels strat…3,6,9,14 LWMA’s 3 being green the others blue for me with a 20 per 2dev Boll… that i make all the lines black…basically i really only use the MA’s…and i use a 5m 15m 1hr and 4hr…the 5m/15m indicate a possible trade and the 1h signals it …other wise i wont go in…if anyone wants to edit this strat…please do im still newbiiiiiie!
Mike G