Hi All,
Isn’t it interesting that Chf/Jpy hasn’t been as high as it is now, since 1990!?
Looking for a good pullback on that pair.
cheers
Hello Sivric
i love to trade those Comdoll So much. here i give my oppinion about this Pair.
as i mark a couple candle with blue rectangle (this is my own rule, i set support and resistance as an area not a mere line)
if you can see in the lower timeframe the process at the H4
this last 6 years i always see that area like this is tend to become like magnetic field, the price usually going to test this area, if the trend is strong enough it will bounce with same strength.
as you can see at the daily timeframe the price already test this area.
price already trigger my long position near at the support, and maybe i have some opportunity to add some position there.
i hope it will help
Hello Guys, i don’t know it against the thread rule or not. i am usually trading using price action also but with japan style (i mean, like harami, shooting star, tokoji, it same but little bit complex because there are so much pattern) and using a macro analysis of fundamental and USD index.
If you have time to spend, please check the USD index, because i think, USD will start the bull trend, plus the QE tap issue. i think it is not good to put any position against USD. just my oppinion. i hope it will help.
My general rule of thumb has always been if I have to think twice I give it a pass. yes price occurring at a nice level, the con’s are that it is against a strong trend and not a very commanding signal.
[QUOTE=“darthfrancis;570101”]nice looking trades for monday. usdsgd d1 <img src=“301 Moved Permanently”/> gbpchf d1 <img src=“301 Moved Permanently”/> aususd h4 <img src=“301 Moved Permanently”/> thoughts? Darth[/QUOTE]
Hi
Thanks for this.
I had a sell order @1.24886 for usd sgd below the pin bar low which was triggered earlier, but thereafter it went all the way up and triggered my SL (which was set above the high of the pinbar @ 1.25286).
Was my stops too tight? How could I have played this differently? Welcome any comments
Thanks
Hi Marcus.
The biggest problem with PB’s that form a on Friday is we can never be 100% sure whether it is a ‘genuine’ Pin or if it simply a case of some of the larger institutions unwinding their trades and taking profits before the weekend.
The PB did look quite nice and formed at a logical area but the fact that it occurred on a Friday would have kept me out. You also have to remember that the ‘big boys’ in London and NY haven’t even woken up yet so we are yet to really see which way price is likely to go this week.
Hope this helps,
Bryce.
Absolutely. Too many cons to take it in the end and after checking just now, it’s a good thing too.
My stop would have just been taken out.
Hello Jumar, yes, that’s valid pin bar, i have a short position since Octobor 24th open, but i suggest you to wait the price break the 0.819 support. if you take a look back, this is support is very strong.
I think we’re going down, Captain.
Nice H4 BEEB forming right on the 112.0RN, with a strong close below it.
Still 1 hour to go until the candle close, but looking nice so far. It’s a big clear area ready for a good run.
Can’t post a chart at the moment, but I’m also seeing nice setups on:
EURCAD, H4 - BEEB
EURJPY, H4 - BEEB
No candle closures as yet so may change.
[Edit]: Hm, second thoughts, that EURCAD looks a little messy, but has a bearish divergence. The Yen is definitely the better choice for me.
Hi Jumar,
You may want to start with drawing support and resistance lines before you acknowledge any PA signal.
Clear charts=clear trading results.
I wish you the best.
Cheers
Hi MArcus,
I’m sorry to hear that it went against you. A thing or two that you might have missed were;
-
Never open a trade on Mondays before London Open!
-
And the other thing that bhops mentioned.
I was thinking about considering that trade too, or atleast keeping an eye on it. But the way it went prooves
that trading before the major markets started the Week is little forgiving.
I wish you a successful trading week and never mind a loss!
Cheers
I took this but thankfully my entry didn’t get triggered. phew.
How many pips did you place entry from bottom of candle and sl from top?
mine was 10ish for both.
Darth
hey Kas, what makes you not place a trade on a monday morning/sunday night if you think that its a good setup?
I’m away from my COM monday till 6pm so I tend to place pendings on a sunday night once the market opens. Would you recommend not too?
Darth
Hi Darth,
That’s a good question.
Reason is high spreads and low liquidity could spike you into a entry and fake your whole setup.
Our good friend Dudest made a post about that here too We can enter D1 Friday PA on Monday but careful to let market spreads settle down before setting entries
Cheers
Hi Will,
When price is where it’s not been before, we look for where price has stalled / partially reversed ( esp if that coincides with a (V)(B)RN ). We then wait for price to retrace to there to enter into the dominant trend.
Since pullbacks in strong trends can be shallow, a lower timeframe [ e.g H4 (or H1, if you know what you’re doing) ] can show you where to look for PA after a retrace that would otherwise be shallow on a higher TF like D1.
Cheers
PS: where I’m waiting for long PA on CHFJPY:
.
I would be scared fighting that strong momentum with an un-commanding bar from the H4.
Personally looking for shorts
Cheers
.
This is how I see it now too. waiting for some sweet PA signal at 0.92, Also that PB on usdsgd d1 was pretty small. In my heart I felt this wasn’t that strong just lucky I didn’t get triggered and cancelled it in time.
Darth