Forex Price Action

[Keel]

@fjanos

Sorry guys it just went straight up who knows where???

Fjanos,

simply because interest rate decision was announced to continue to stay at 1% all time low for Canada. Plus, inside candles mean market moving sideways, as in it will either break up or down, we usualy prefer the up in this senario because of the trend direction.

[Panupat]

USDCHF is exploding downwards.

[cwchong]

USDCHF is exploding downwards.

Those who took the PB should be very happy now.
Btw, EUR/JPY is also exploding upward. I’m feeling happy now also.

[darthfrancis]

Finally the waiting has paid off, my current trades

GBPJPY long open at 171.00
EURJPY long at 141.00
USDCHF short at 0.9115

It’s a good day.

Darth

[bhops]

Finally the waiting has paid off, my current trades

GBPJPY long open at 171.00
EURJPY long at 141.00
USDCHF short at 0.9115

It’s a good day.

Darth

Darth I hope you split the risk on the Yen pairs.

[Keel]

Darth I hope you split the risk on the Yen pairs.

can you elaborate more on “spliting the risk” please? are you refering to dividing the same position into two for each one?

[darthfrancis]

Darth I hope you split the risk on the Yen pairs.

Yeah I did which althought sensible at the moment which I hadn’t lol. The EURJPY was my main trade which I risked the majority of my lot on and the GBPJPY was my “idea” so I put 0.01 lot on just to see ( also going way long on this as I believe the GBP will rally hard this quarter). Oh well I’m just glad there going on in the right direction.

How about you BHOPS you in any on these pairs?

Darth

[darthfrancis]

can you elaborate more on “spliting the risk” please? are you refering to dividing the same position into two for each one?

I’ll give it ago,

So when you have pairs that are highly correlated (synced) trading both is the same as doubling you risk on one pair.

The GBPJPY and EURJPY are highly correlated and so if I put my usual lot size on both I would of doubled my lot size.
So as i wanted to trade both I spilt my lot size 50/50 on each.

Hope that helps.

Darth

[dudest]

…and the cleanup crew yells “Boom shakala !!”

.

[bhops]

Yeah I did which althought sensible at the moment which I hadn’t lol. The EURJPY was my main trade which I risked the majority of my lot on and the GBPJPY was my “idea” so I put 0.01 lot on just to see ( also going way long on this as I believe the GBP will rally hard this quarter). Oh well I’m just glad there going on in the right direction.

How about you BHOPS you in any on these pairs?

Darth

I shorted the USD/CHF D1 PB. I’m at BE now.

[Kiwiman]

USDCHF is exploding downwards.

And I’m riding it down yahooo

kiwiman

[Chromeo12]

…and the cleanup crew yells “Boom shakala [I]!![/I]”

.

I got stopped out of this trade for moving my stop closer to break-even. Lesson learned ;(

[darthfrancis]

…and the cleanup crew yells “Boom shakala [I]!![/I]”

.

isn’t that the USDCHF trade on the bottom?

Darth

[bhops]

I got stopped out of this trade for moving my stop closer to break-even. Lesson learned ;(

Yeah I think it’s a Typo.

[dudest]

isn’t that the USDCHF trade on the bottom?

Darth

'Twas a typo, sorry! Have corrected it --> USDCHF H4

[dudest]

@sensiblekiller

need your input guyz AUD/USD H8 Pin bar

I’m glad it worked out, but that was a tiny pinbar killer…

Pros:

Area was great for shorts ( pullback to flip zone )

Recent momentum (trend) has been down

Formed at swing high

Cons:

Small and un-commanding PA

Cheers

[dudest]

@fjanos

I always learn something new every day. I thought the pinbar should close within the previous candle’s body. But now I see that the tail/wick counts too. It can close within the whole candle including the wick and the body. Right?

This is proper pin bar setup:

So this one too:

Correct! And great examples too :)!

Cheers

[dudest]

@fjanos

Sorry guys it just went straight up who knows where???

LOLEST at the cartoon face!

[dudest]

The CAD and GBP pairs really got pushed hard by the news yesterday. If you look in H4 you’ll find quite a number of small 2BR and [B]small pins that got shot to death.[/B]

LOL! Good one

[dudest]

can you elaborate more on “spliting the risk” please? are you refering to dividing the same position into two for each one?

Just as Darth explained; you split your usual position into two if trading two pairs with the same quoted currency ( e.g, two JPY trades, like GBPJPY and EURJPY ). That way your combined risk is the same as that of one trade.

Cheers