TWHM, -80 that must have hurt. Glad to hear your still in and only more determined. Whatever doesnt kill you makes you stronger (well at least whilst still on demo anyway)
Well I figured out my charts messed up from 28th March (the weekend we switched to BST) and seem to have corrected from 18th May. My 4 hour candles opened and closed at really strange times during that period. I hope that doesnt start happening regulary as you cant read anything from the charts ;( Oh well a whole day wasted (well invested really) we’ll see what info cms get back with.
EUR/USD Long going ok. Watching a Daily PVSL counter long setup at 1.4419 that could end this buying. EUR/CHF Long also triggered at 1.2020. Closed EUR/JPY Longs as we are sitting on the backside of an H4 trendline. Will see how these all go. Safe trading I’m off to bed.
Hey Bank, what was the setup for that EUR/CHF long? It may just be that its really late but I’m not seeing a setup so I wanted to see what you’re seeing…I also use FXCM so I know my charts don’t look exactly like yours…anyways great trade so far!
I deliberately did not mention that setup, because it was based on buying an inverted hammer formed after a round number was hit. That’s all! There was no other setup there. I use FXCMs charts when VT is down, but somehow I am more comfortable with VT trader. Thanks PipDoctor!
Added to EUR/USD Longs at the high of yesterday’s 4:00pm Higher Low Candle on the H4 chart.
Watching 1.2070 H4 PVSH reverse trade setup area on EUR/CHF.
Long GBP/USD off H4 Old PVSH of 12:00pm May 6, 2011.
Long EUR/JPY off yesterday’s H4 4:00pm PVSL.
Ok, what a way to start the day! Didn’t have time to check my charts last night and woke up to see the EU bounce right off an old daily PVSL level at 1.4419 for about 100 pips. BUt thats ok theres plenty more where that came from!
I was long on the USD/JPY yesterday, there is some support at 80.57 and 80.55 so if we get a retrace I may re-enter.
Also watching the the GBP/USD, there are about 3 old PVSLs on the 4H at 1.6265-67, if we close below I see this pair moving farther down.
Please feel free to critique and let me know if you feel my analysis is wrong or I missed something, I’m here to learn!!!
Happy trading today!
GM Bank, Although my line is not exact as it was a level I had been watching for a while I actually have 3 PVSLs forming on April 18, and 2 more from Jan 4th & 8th which is why I believe I marked this level. (I can’t find it now, but I thought I had seen a weekly PVSL too)
Good Morning TWHM! Well at the moment the PVSL resistance was not resistance but support, since price was trading above the level. If however we get a close below, then we sell the PVSL resistance. Looks like my stop got clouted by the way. (ooops sorry still in the trade )
