Thanks Krugman, as always these nuggets of information are fantastic and it is also great to get your thought process regarding the trade. This looks like a very nice set up, I wish I’d spotted that one and taken it.
My previous posts about charts and explanations to why I am considering or have taken a trade have been very brief and lacking substance. I will aim to add a better description in the future in order to be guided more easily.
Thanks Tonyro44, I really appreciate everyone’s help and patience here. I have a million miles to go but this week is the first week that I actually feel that I am starting to get the hang of things and for this alone I feel very pleased. As I said before, I have a very long way to go but it feels very possible now.
Just want to post up a chart of a trade on the AUDCHF H4 chart I took in the middle of the night. Saw price at my resistance level (marked on the D1 chart) so I set my alarm to wake up 15 minutes before the H4 bar closed. Took half profit and moved my stop to BE.
On my chart I have 132.68 marked as a major S/R level, just be mindful that price could stall or reverse in that area. likewise on the daily, the pinbar that is forming is below this major resistance level and would have to break and close above that 132.68 area to not be trading into resistance.
Hey all been quietly reading and trading behind the scenes. Just reached the 100 page mark of this thread, I’ve heard people say you should read the first 200 pages, should i bother?
Also had a great day, 3 yen trades closed for 352 pips profit and 7.5% gain.
I would post graphs but it was a combo of market gap theory and PA.
I’m extremely delighted to read the recent update of everyone’s post. After weeks of basically waiting and doing nothing, suddenly we are all overwhelmed by A+ trade setups here and there. Kinda worth the long wait to save our capital, don’t you guys agree?
Johnathon is not lying at all. One man’s fate comes from one man’s wait, indeed. :59:
You’d better open a Demo account with a broker with the correct NY Close chart ([B]please read the first page of this thread[/B]), for the sake of having smooth discussion in this thread. We simply cannot discuss much if people stop posting the chart where they set up their trade. Only posting numbers is confusing at best, and that most likely will get you ignored by most of the active members here.
I wanted to post a chart illustrating what I was talking about earlier. There is some fairly strong overhead resistance that goes back 6 months and has been a key area where price has reverse to the downside. I’m not saying don’t take the trade or that it is a bad trade, just be mindful of this area in your trade plan.
