If you wait for A++ trades on the dailies then yes, you’re only likely to see one maybe two a month. You certainly need patience!
Although reading the entire thread on FF wont do any harm it certainly is a challenge and you can get away with reading the first 100 or so pages and the summary posts to get an idea of what we’re all up to. Then do exactly what you did here - throw up a chart of what you see, give a shot at analysis and invite the FF forum members to give their thoughts. They’re a great bunch and there’s a lot of learning going on there.
This is my daily chart on GBPCAD from FXCM charts. I don’t see a pinbar today though I did see it one on Yesterday. Currently the price is hitting 1.75. All lower timeframes suggesting that it may not break 1.75. There was also another pin bar 4 days right at 1.75.
Yeah I saw that pin on cable. I think you will see some upward movement but consider moving it tightly as we quite possibly haven’t seen the last of the bearish sentiment. I decided to avoid it because it wasn’t on the trendline or PPZ and didn’t open and close within the preceding bar.
Yeah I saw that pin on cable. I think you will see some upward movement but consider moving it tightly as we quite possibly haven’t seen the last of the bearish sentiment. I decided to avoid it because it wasn’t on the trendline or PPZ and didn’t open and close within the preceding bar.
very wise decision also there is not alot of confluence, and not alot of space so definatly not an A+ setup, not by a long shot
well my gu is up +34 atm it may not be a great trade but I know the cable better than any other pair and when she changes her mind she changes and so now Im eyeing 6040 as a very conservative p1. Really the top of the range from around may 09 is 6870ish and my long at the bottom is definatly a great spot. I will just have to see how she plays out.
my target of 6040 was hit while i slept I went for the quick 80 pips. When I trade I keep my profit targets conservative and so I set my tp at the next ppz and sure enough she hit that ppz and reversed.
***edit I don’t know why but when I use tinypic sometimes the wicks get cut off like on the pb. this is the g/u daily but the pb printed without the wick???
in order to shrink the picture it has to drop pixels and as the wicks are only a pixel wide sometimes they vanish.
Try attaching the image instead of embedding it.
well my girl printed a beob and now price is dropping. i missed my entry coz i was giving ther dog a bath but if it retraces a little I will short her back to 5915ish
edit matt im going to try your idea coz the wicks got cut off again and so the last candle does not look like a beob but it is.
Nice trade for a quick profit. However, the overall trend is still bearish, we might see a nice pin bar on daily chart today… This can provide another short opportunity for a target at 1.5700 of 10/13 low.
well my girl printed a beob and now price is dropping. i missed my entry coz i was giving ther dog a bath but if it retraces a little I will short her back to 5815ish
Nice trade for a quick profit. However, the overall trend is still bearish, we might see a nice pin bar on daily chart today… This can provide another short opportunity for a target at 1.5700 of 10/13 low.
i make money both directions. remember the trend is your friend…till it ends. I am nimble and such I view the markets as being in a constant range and a trend is simply a part of larger range. Its hard to explain but my view serves me well
edit** I accidently quoted my post and didnt quote cprao’s post
cprao look at this chart of the gu daily what do you see? trend or range?
I see price at the low of a range that was established June 2009 and an upwards potential of 10cents. But why just have one view? It may establish a new low or it may head north for 1000 pips over the next 6-8 months. What I like to do is take my quick little trades in the direction the market shows me and look for the next one. J16’s weakness IMHO is the fact that you are always looking at 20 or so pairs. I prefer the more intimite approach of following 1 or 2 pairs and really getting to know them. I really love g/u and the funny thing is I used to hate her. Its like a soap opera hahaha!!! anyway thats my 2 pips
the cable found support at 5800 no suprise there. Had I not missed my entry yesterday it would have been a good short. Now she is at the bottom of her range and plenty of room north. I would definatly be long but with nfp coming I am not certain. I have been hearing postive chatter for the buck so if that is the case the cable will drop again. This is an example of not strictly using technicals in my trading. Allthough I don’t really use fundies I am at least aware of the bigger releases. By monday I will be itching to long cable unless nfp moves her south past the 5800 mark then I will reaccess my bias. As always I will try to trade what I see and not what I expect (thanks EO and Ken )
im glad i didnt go long I would have been stopped out. It is a perfect example of trading what you see. I really thought the bottom of that range could hold her. then she dropped all the way to 5650ish if it continues to drop then it could go all the way down to 5300 area coz there is alot of space.
everybody enjoy your nfp friday and have a good weekend
I went for the quick 80 pips. When I trade I keep my profit targets conservative and so I set my tp at the next ppz and sure enough she hit that ppz and reversed.
