Ahh balls…me too. Lets hope the EURJPY doesn’t go the same way.
Very very long way to go until end of play but have my fingers crossed for the bearish engulfing bar forming on the EURNZD daily which I believe would make an A+ trade if it holds out.
*Bullish 
haha
Do you not think you would be better waiting for price to go back up to the flip zone, then wait for PA to go short?
I am still not getting the hang of this am I? Here is how I have my line of r/s below and see that trend is in a strong down trend:
Do you think price will return to the flip zone? If price could close below my RS line would it hypothetically make it a good place to go short?
This is where I have my lines drawn.
The 2 bars you have you line drawn under is just a false break of support. I think price will return to where my line is about and then I will be looking for shorting opportunities.
Cheers
Thanks Adamjn, that makes complete sense and now I see your chart it is very clear. Can you believe my chart doesn’t go back that far? Haha I am using FXDD for New York close candles and apparently FXDD have only just begun making this pair available so my data only goes back to July.
Thanks again for the help.
BA
not enough pullback i think… just my 2 cents:57:
[QUOTE=“Mr B A Barracus;539310”] Ahh balls…me too. Lets hope the EURJPY doesn’t go the same way.[/QUOTE]
I think they’re both going to end up getting stopped…these declines are corrections post-fomc data. Look at the daily, price is moving almost exactly to where it was pre-fomc release. I’ve seen others shorting these two pairs big time. I know we don’t talk news, but this news has a major impact on price and I think we all got faked out…this is just my opinion so feel free to disagree.
[QUOTE=“bigcheefer30;539362”]
I think they’re both going to end up getting stopped…these declines are corrections post-fomc data. Look at the daily, price is moving almost exactly to where it was pre-fomc release. I’ve seen others shorting these two pairs big time. I know we don’t talk news, but this news has a major impact on price and I think we all got faked out…this is just my opinion so feel free to disagree.[/QUOTE]
Looks like its heading that way bigcheefer, the trader 3000 will definitely be having some serious quality checks today. Heres to the next PA trade!
I don’t necessarily think quality checks are in order. We can’t make money on every single trade, and that’s something that must be understood from the very get-go, or you’re going to be simply setting yourself up for failure, depression, anger, and all the emotions involved with losing money.
Here’s the thing: We’ll never know exactly what happened to make price hit our entry point, then reverse back and wipe us out- there is no way of attaining this information. All we can do, is lick the wounds and look forward to the next opportunity. Personally, I think that there was some upward pressure, trying to bring price high, but the correction-power was stronger, and that level had to be tested.
EURJPY already hit the stoploss:(
EURJPY stop loss. Hope another trade we can win. Thanks for all.
how i can get the news? from what source? sorry for my bad eng…
Ouch my trader 3000 just exploded between my buttocks! It’s going to take me a few trades to make this loss back 
Just wanted to add one thing:
In MyFXBook, there is a cool feature called “Community Outlook”. For traders/systems that have their “positions” set to public, the tool aggregates overall sentiment based on live and demo positions that are currently open. Before I set my orders for GBPJPY and EURJPY, the overall sentiment was over 70% short on both pairs, with 53% of that percentage coming from “live” accounts.
There were over 1500 open positions in each, totaling over 1,000 standard lots. Listen, I know this pretty much has zero to do with PA, but, we always mention having an edge before a position is ever opened. Who goes to say that every single one of these traders with their short positions may be wrong, but, with that type of information, I think more informed decisions can be made.
I just wanted to throw this out there and see if anyone knew about this tool. I’m not saying this is a signal service, or a way to confirm your trading methods, or anything like that. The correlation can be purely random and I assume it is. But, I felt like sharing because I found this interesting.
[QUOTE=“bigcheefer30;539379”]
I don’t necessarily think quality checks are in order. We can’t make money on every single trade, and that’s something that must be understood from the very get-go, or you’re going to be simply setting yourself up for failure, depression, anger, and all the emotions involved with losing money.
Here’s the thing: We’ll never know exactly what happened to make price hit our entry point, then reverse back and wipe us out- there is no way of attaining this information. All we can do, is lick the wounds and look forward to the next opportunity. Personally, I think that there was some upward pressure, trying to bring price high, but the correction-power was stronger, and that level had to be tested.[/QUOTE]
Thanks Bigcheefer, I completely agree and know that losses of course come with the game. Every trade I enter I prepare myself to also take a loss, here’s looking ahead to the next trade!
open a myfxbook.com account. Every time you login, on the front page, you will have a nice snapshot of upcoming news. There really isn’t anything you need to pay attention to other than a few very-big announcements like FOMC that come around every 6 months I think. All the news is accounted for in the PA, so we typically don’t really care about it. But, if you want to look further than the charts and take up reading the news as a hobby so you can sound smart in front of your friends, then knock yourself out. Other than that, it can be seen as a waste of time if you’re trying to base trades on the news.
[QUOTE=“bigcheefer30;539391”]
open a myfxbook.com account. Every time you login, on the front page, you will have a nice snapshot of upcoming news. There really isn’t anything you need to pay attention to other than a few very-big announcements like FOMC that come around every 6 months I think. All the news is accounted for in the PA, so we typically don’t really care about it. But, if you want to look further than the charts and take up reading the news as a hobby so you can sound smart in front of your friends, then knock yourself out. Other than that, it can be seen as a waste of time if you’re trying to base trades on the news.[/QUOTE]
Thanks for the tools bigcheefer, they both sound very handy and it cant help to be prepared. As you mentioned, I know that news is not part of PA trading but I was very aware of the news coming out this morning that would affect the EU and even set my alarm for it as I knew it could potentially affect my trades which I believe it did.
That’s the right spirit.
Unfortunately this one didn’t play out, doesn’t mean the setup wasn’t right or the system doesn’t work.
If I see such an opportunity again I won’t hesitate to pull the trigger for I know that’s my edge and the long haul will keep me profitable.
Good luck to you all, and don’t let a loser bother you, you are all doing fantastic!
Cheers
thanks! tht would help me a lot !