you miss understand me if anything I’m looking to short at the top of the range as you say the 1.45 is a good retracement level then there’s 500 pips to grab if that’s the case.
But I’m not going to touch the pair until the PA shows me a story. Entering a trade on a friday daily candle is RISKY. i’ll wait for confirmation on monday.
Darth
Thanks Darth - am new here and have only just gone through all of the material - just wanted clarification. Cheers, Amy.
Hi All,
An Eye opening story from an Indian Guru ’ Swami Muktananda’ (I hope I got the name right)
It’s quite a few lines so relax and enjoy!
There was a student in India who wanted to become enlightened. He left his family in search of an appropiate guru
to guide him further on this journey. Stopping at one guru’s place of business, he inquired as to his guru’s method of
becoming enlightened. The guru said,’‘Becoming enlightened is really quite simple. All you need to do is to go home each
night and sit in front of the mirror for 30 minutes asking yourself the same question over and over. That question is:
’‘Who am I?’ ‘Who am I?’ ‘Who am I?’ ‘’ The prospective student replied, ‘‘Hey, it can’t be that simple.’’
’‘Oh yes, it is just that simple,’’ replied the guru,’’ but if you would like a second opinion, there are several other gurus
on this street.’’
’‘Thank you very much,’’ said the student, ‘‘I think I will inquire down the way.’’
The student approached the second guru with the same question.’‘How do I become enlightened?’‘
The second guru replied,’’ Oh it is quite difficult and takes much time. Actually, one must join with like minded
others in an shram and do [I]sava[/I] . Sava means’ selfless service,’ so you work without pay.’'
The student was exited; this guru’s philosophy was more consistent with his own preconceived view of enlightnement.
He had always heard it was difficult.The guru told the student that the only job open at the ashram was cleaning out
the cow stalls. If the student was really serious about becoming enlightened, the guru would allow him to shovel all the
dung and be responsible for keeping the cow stalls clean. The student accepted the job, feeling confident that he must
be on the right path.
After five long years of shoveling cow dung and keeping the stalls clean, the student was becoming discouraged and impatient about enlightenment. He approached the guru and said '‘Honored teacher, I have faithfully served you for five years cleaning up the dirtiest part of your ashram. I have never missed a day and never complained once. Do you think
it might be time for me to become enlightened?’‘
The guru answered, ‘’ Why yes, I believe you are ready. Now, here is what you do. You go home everynight and look
yourself in the mirror for 30 minutes,asking yourself the same question over and over. That question is:
’‘Who am I? Who am I? Who am I?’ ‘‘
The very suprised student said, ‘‘Pardon me honored one, but that is what the other guru down the street told me
five years ago.’’
’‘Well, he was right,’’ responded the guru.
-End of the story-
The Message is: ''Once you are tired of cleaning cow dung, go back to the simple method you knew
works and trade like a pro. Slow,steady and simple.
Hope peers found it useful, have a successful trading week.
Cheers
What do you guys think abouth the PB formed on EURAUD D1?
Sry i cand upload an image right now.
Is is a good setup to go short?
Please someone explain me how to load the graphics, after you have saved on your PC.
Thank you!
Hi sarbualex’
I personally think the wick is quite short, that said the coming week will bring in more clarity.
Cheers
IN DEPTH ANALYSIS
Eur/Aud Daily Pinbar
Price on that pair has been rapidly climbing. Now it has reached and rejected a solid Resistance line and VBRN.
This rejection was following a false break pinbar.
There are many criterias that are in tune with a high probability setup in this PA signal such as:
minimum noise, solid level, solid rejection bar, room to move.
However taking a position from here would be trading against the recent momentum and one should bare in
mind that trading against momentum can get tricky at times.
I wish all the best.
Cheers
Seems like another pair to keep an eye on. The CADCHF D1 formed a nice size PB on the D1 on friday. going to wait till tomorrow to see how it turns out as it formed on a friday but looks good.
Thoughts??
Darth
Yep definitely cannot trade just PA at good levels as it most likely burn you. I’ll vouch for that. Now if this pair throws up a BIG PB or BEEB then trade on to FSA …maybe. But most show a real picture of rejection.
Just a point KAS ol bean is that lower left pin bar really a pin bar? more like a long legged doji no?
Darth
x
Hi Darth,
I am very keen on this one. However the pinbar missed to close within the previous bar on pepperstone.
Which makes it invalid for me, but will have a sharp eye on lower TFs and see if a signal develops there.
Cheers
LOL, nah not really a tradable pinbar but tagging it as a pinbar saves me from writing:
‘‘A deep and fast move lower was followed by a rapid rejection while the daily bar closed near where it opened,
which indicates a porportion of reluctancy to move lower and at the mean time a high degree of indecision
from the bulls and bears.’’
Cheers
Thanks so much
Not at all.
Looking forward for some charts!
Cheers
Wow wonderful
Not sure how reliable a signal can be if it has formed 20 minutes before the market closes on Friday within a 1 min TF. (Break and recovery)
That’s some serious Algorithm trading there, and it’s not the only pair.
But maybe, the signal is as good as any. . who knows.
Hey Amy,
I also think a long from a retrace to 1.4500 (or 1.4600) [following solid PA] would be a high probability play.
I liked the false break pin from Friday but would like it to be BIGGER in order to counter-trade the recent up-move.
PS: please remember to remove MAs / indis from charts before posting 
Cheers
.
Hey Darth!
Didn’t have a PB on mine (Axi)
Have quickly checked on Robo, and seen a pin ( though wick is less than 3x the body ).
I think that’s a great area to long from (following PA). If price keeps going down, will look for shorts off the same place.
Cheers
.
To be honest dude I didn’t really look at it like that nor will I. I take friday daily candles with a huge pinch of salt and stay away all together until i become more confident in trade such a rsiky day.
Darth
Yeah I wouldn’t trade your candle either lol. Vantagefx chart showed me a nice PB so I’m going to keep an eye on it. I’m not in any trades at them mo. Like Bhops said " let the trades come to you" not to say I’m going to be lazy just not jumping in everything I see. I’m still hurting from last months losses ( which were my own fault for not sticking to my plan).
Darth
