Just got stopped on audusd engulfing bar(H4 and daily), can You guys analise it for me maybe i missed something? 
thx
GBPJPY 5M Chart:
Lesson learned: Setups that form on friday, should most likely be closed out before end of day friday. We both got gapped out. I had moved my STOP to BE Friday before close, but was still gapped out for about a 20 pip loss.
For your specific example, I would have waited for the low of the BEEB + 10 pip buffer to be broken (aka set pending order there).
I got in on the 4h frame - it was pretty convincing but this rule about 10 pips buffer i think is good idea
Just a few days ago on post #12378 I said âI also donât like going into the weekend with open positions unless they are comfortable in the green, so I donât get gapped way past my SL.â
That is exactly the reason why. In the case of a weekend gap, I know my broker and most brokers will not close out your position at your SL but at whatever the price is when the markets opens, plus they take you to cleaners given the fact spreads are 5 times normal. I have personally lost triple my planned stop loss because the gap was so big. So be happy it didnât gap farther in your case.
With that being said, that is still a personal choice of mine, Johnathon doesnât require you to close your positions on the Friday. I usually keep them open if they are comfortably green, so maybe they have already reached a TP target, or are a good 50-100+ pips in the green already.
[QUOTE=âkrugman25;533298â]
Just a few days ago on post #12378 I said âI also donât like going into the weekend with open positions unless they are comfortable in the green, so I donât get gapped way past my SL.â
That is exactly the reason why. In the case of a weekend gap, I know my broker and most brokers will not close out your position at your SL but at whatever the price is when the markets opens, plus they take you to cleaners given the fact spreads are 5 times normal. I have personally lost triple my planned stop loss because the gap was so big. So be happy it didnât gap farther in your case.
With that being said, that is still a personal choice of mine, Johnathon doesnât ârequireâ you to close your positions on the Friday. I usually keep them open if they are comfortably green, so maybe they have already reached a TP target, or are a good 50-100+ pips in the green already.[/QUOTE]
YepâŚthe first thing that came to mind when I saw price gap down, was that exact postâŚ$76.60 lesson learned⌠Moving on⌠
could have been 10x worse.
I donât think i know any trader that hasnât lost money at one time or other in this situation over the week end.
Just wanted to share some charts which I found interesting heading into this weekâŚ
EURGBP:
Key level .84 broken. Will be looking for shorts around that level. Pair has been drawing down since 8.1.
EURAUD:
Recent double top. Will be looking for shorts around 1.445
GBPCAD:
@ top of Range
AUDUSD:
Recent double bottom- look for longs?
Hi Songok,
we had an interesting discussion also about AUDUSD with Coach J last week. Since the trade is already done now, I think I am free to share my insight here:
From the Daily chart, there were 2 big problem with this trade:
- This BEEB has strong support lies ahead.
- The so obvious lower wick from the BEEB also indicated weâre going to have a difficult ride down. I will be more delighted if the lower wick is either non-existent, or the body of BEEB is way larger than the wick to ensure a smooth ride down.
Things even look bleaker as you go down to H4 chart. While itâs true that the BEEB looks so strong and promising (it engulfs 10 candles for crying out loud!), we also see that the price essentially got stuck in a traffic right after BEEB.
I did not take this trade as I thought from D1 chart, this looks like a B trade setup, not an A+ one. Still, I hope this little insight could be a reference in the future, Songok.
I noticed what seems like a more-than-average # of rather large gap ups/down this eveningâŚAre there any opportunities/strategies that we should employ/heed when trading these upcoming weeks? Or is it just business as usual, wait for PA Signals around key areas?
Example:
NZDUSD
Hey bigcheefer,
Usually price moves and closes the gap,and then business goes as always.
However that doesnât happen all the time.
If you actually have a position that hasnât been gapped out yet. There is nothing to worry , as price will settle and continue to do what it does in favour of your anticipation,hopefully.
Cheers.
[QUOTE=âKasravi;533395â]
Hey bigcheefer,
Usually price moves and closes the gap,and then business goes as always.
However that doesnât happen all the time.
If you actually have a position that hasnât been gapped out yet. There is nothing to worry , as price will settle and continue to do what it does in favour of your anticipation,hopefully.
Cheers.[/QUOTE]
Makes senseâŚthanks for the reply.
Not at all buddy.
Hi all,
I finally managed to âescapeâ my CADCHF trade at Break even.
Reminder: I entered the trade based on a daily pinbar on 06.09 which we all agreed wasnât a valid one as it didnât form within previous candle. I had placed my order at 0.898 and it got filled before almost hitting my SL at 0.9070. Price then did nothing for a whole week but I decided to be consistent and I kept the trade open. This week then resumed with a gap in my favor so at 0.9960, I moved my SL to BE thinking that if it was to reach my TPs ( 0.884 and 0.876 ) it would have to do so without retesting entry point. After all, it wasnât valid at first so no reason to accept any risk anymore. It may well be heading south nicely from now but I have no regret as I would never have been able to sit back and relax with this trade.
I am not encouraging to enter trade based on poor setups but only wanted to share how I managed to stay rational and save my capital in poor conditions.
I am now waiting for a real a+ setup and looking at the market so far this week, my wish could well get fulfilled rather soon.
Any comments welcome.
Yves
Hi guys, EURUSD opened up this week with small pin bar.
Considering that usually the gap will closed, I think its a good chance to sell with 1:1 risk reward ratio.
Tp is around the area of the last week end closing price, Sl is as much as Tp.
I think I marked wrong s/r level and dont considered it as a problem thx ;].
Hi All,
Wish profitable week for everyone.
I Attached CADJPY 4H which i but pending long
My reasons:
BUEB very near to support line
BUEB closed within top 1/3 of candle
Swing low
With trend
Resistance at 97. (VBRN)
TP 96.85
Do my analyze here correct ?
Thank you
Hi Mideel,
For simplicity reasons,we post our charts blank(without any indicators/oscillator/volumes or trendlines)
Maybe you could do that and draw your support and resistance lines,too.
Cheers.
Hi Fahed,
As far as I can see you are doing well.
However I suggest,that you draw your key S/R or recent S/R(which ever comes first) on your daily chart.
Identify where price broke out,and turned resistance into support. Then take it from there, share it with us and if you feel confident afterwards then you consider it a go.
Hope that helps.
Cheers
I am just a newbie trying to learn but I drew my S/R line @ 94.364 so, for me, the BUEB is not at a relevant point
Hi Kasravi,
Thank you for reply.
Can i explain my steps and correct me
1-On daily chart i change chart to line bars draw lines on chart (Red and blue lines)
2-Then i switch to Candle bars and i used Blue lines as best support and resistance lines
3-Then on 4H chart while price still in Uptrend i waiting price to pull back to support line
and show me a good PA signal near or on support line
4-Candle closed on 4H with BUEB candle
