trade on rock …
Thanks Bhops. Yeah, i was wondering that. It did retrace, but not a swing high. I’ll keep an eye on this. G
[QUOTE=“gforce1;679633”] Thanks Bhops. Yeah, i was wondering that. It did retrace, but not a swing high. I’ll keep an eye on this. G[/QUOTE]
I would prefer to wait for a more obvious PA…
Question about the NZDJPY…great PB, right on a decent event area\support zone, you could argue the trend is up, and does appear to be a 4hr swing low…I missed this as the 4hr candled closed at 2am my time, and I cant find (yet) an opportunity to hop on the long…however, how does this opportunity stack up according to my analysis\FSO rules?
Secondly, when opportunities like this do come along, and I miss the opportunity (which happens a lot), what techniques do people use to try and then get in on the action?
Many thanks, James
Hi Nikz
Nice chart, and looking at my daily I have drawn my support zone a little lower, I wonder what other Traders take on the correct\more obvious event area is?
I have also made a note on my chart to look for some decent reversal signals at the next 4hr swing high (on the basis the short term trend on the daily is down…
Cheers, James
Nice, I saw this too, but I have my event area up nearer 1.9200…again maybe my support and resistance zones are incorrect…?
Good luck with the trade though!
Hey James. Yep, i’m waiting too. Some resistance around 1.5050- 1.5100 zone, but stalling now, so i wonder if it will turn back south from here? Waiting for P.A.
Re GBP/AUD, my level is where it is because it is a BRN i.e. 1.9000 and has a few touches previously etc.
Good trading. G
EDIT: To trade it from a swing high though as per rules, you’d probably need to wait for price to hit D1 resistance around 1.5176 zone? I’m not too clear how the rules apply in this case. Perhaps an old timer could chime in.
Hi gforce1,
just looking at your Eur/Jpy trade on the 1hr chart.
Wouldn’t it be better to wait for the price to reach a more significant swing point before taking a trade here.
Just an observation and no offence meant, but do you think you might be over trading?
Kind Regards
Closely correlated to gforces GBPAUD short, the GBPNZD has shown me a good BEEB on the 4hr, within an event area identified from the Daily, both Daily & 4hrs at a Swing High? Anyone taken this and would like to comment\verify my analysis is accurate…am I on the correct FSO path!?
Only negative is the Daily chart to me does not show this pair to be Trending
Cheers, JBH
apologies but the images I post do not render very well…there is an upper shadow on the candle engulfing the spinning top candle
Nice BEEB but in the middle of nowhere not at a relevant KHL for me
you are with the trend but very tiny pin bar and not at a relevant level
That 4H candle sure is engulfing the previous one, but i’m finding it difficult to see a S/R level to trade it from on the D1 though i note the 2.02000 area. The P.A. on D1 chart just looks a bit messy and weird to me. The setup doesn’t look to be rejecting a key level, even though it is in a high traffic zone which sure could act as resistance i suppose. Not sure on this one myself. But all the best with it.
You make me feel far to cautious gforce! This is my 4hr for the EURJPY, and I am waiting for the retrace to where my note is, to catch a 4hr SH and get with the downtrend…again, comments please, I am new to the FSO method…
Hi EternalNewB, may I ask where are your two Support & Resistance lines for GBPNZD…I must admit this pair does look messy, even on the Daily…
Looks sensible to me. I am in already on a H1 PB which may’ve been a bit aggressive or pro-active. Not sure yet. lol.
