l’ve got a sell stop on the EURGBP too Evermore for the same reasons. Its a breakout retest/congestion trade out of 55 Day look back box l use to identify significant highs/lows. But it is a little ways from the Dynamic Suport/Resistance Area of the 10/20 emas and could retrace more so only a 1/2 position size. Targeting 78.33 area.
EUR/GBP Short
I like this indecision candle. Price is rejecting a previous low (support-turned-resistance???). I know price is far from mean value, but it just got out of a trading range and have a lot of room to fall. Anyway, I need some confirmation and I’ll set and entry if price break the lows.
Comments welcome!
Inside bar on GBP/USD anyone?
I had some emails about the same setups this morning ,
These signals aren’t convincing enough they are small in range, if they break there highs then maybe, But it’s now going into London and price is looking bearish. No signs of bullish interest yet.
but not an A+ trade by any means and so not for me!
Exactly
Hi,
I’ve entered this IB at the support line trade @1.5525, SL @1.5450, T @ 1.5700.
Regards,
Toyogo
Not a bad Inside Bar, my attention leans more towards AUDUSD market because it’s in an obvious bullish trend. I actually pulled the trigger on the break of the high and went long. I didn’t think that was going to happem, but price exploded up.
Stopped out on this… Maybe next time…
Stopped out on this… Maybe next time…
Sorry to hear that luc. I got out of that one at break even myself. Lucky I was there to watch it. We might see a double top on that one, I can’t see it pushing too much further higher before a correction.
I also sold that one at market open too, so my entry point was more forgiving.
Yesterday’s candle had a bearish bias and I decided to stay in… I’m trying to follow your rule to let go the trade and not move the SL…
Why you decided to exit at BE? Which signal told you to exit the trade?
First, this market is strong and shorting it did put me on edge, but I have seen setups exactly like this one drop very fast. Looking at the AUDUSD market it shows nothing but strength and the SNB have their currency pegged and what not so I thought better watch this one.
Also second I wanted to see this thing drop quick, like the other similar setups played out, there was a nice drop after the first session but then it held it’s ground and moved back up to my BE point. So I thought nah I am out it’s not playing out like it should.
Normally I wouldn’t do that with my trades but I brand this one a unique situation.
These markets are making me nervous , so much whipping around going on.
i think its also important to note…that its great to discuss positions and possible trading ideas…
but everyone must at the end of the day make their own decisions about the trade…and take full responsibility for their actions.
i hope dnb doesnt start to feel reluctance about posting trading ideas and concepts…that concept was a brand new outlook on possible trades and i was glad that i saw it…it wasnt for me, but if it was then the responsibility would have been mine alone…
anyway lucariga…im sure your gonna get some blinding trades from this thread…and we win some and lose some…
but at least you held out and comitted to this trade idea …that is a good strength…to make a decision and comit.
but also remmeber that if the terrain changes …so does your committment…
you learned a lot from that trade…
money well spent.
I totally agree with you on this one. After the candle’s close yesterday on this particular market one would expect a nice drop to confirm the sell. I think is some sort of gut feeling, that one develops over time.
Wow! Well said!
Well my AUD/USD buy order did get triggered last night at 1.0180 and made a nice run up to around 1.0245. Then crashed and burned all the way back down, so I closed the trade at 1.0186 for a 6 pip profit. :56:
Trading the daily candles is turning out to be an interesting beast! LOL!
Hey guys, no problem at all here. A lost with good MM is not a problem, they are the costs of this fantastic businness!
The only thing we can optimize, to help a newbie like me, is that if any of us have an idea on a particular trade (i.e. “hey guys, we should consider to close this trade because of …”) would be better to share it as soon as possible so we can discuss on it and maybe limit our losses.
Just my 2 cents with a bad english. Hope to be clear
Hey guys, Who’s up for a short on NZD/USD!!?
I like this pin bar for several reasons. Price failed to break above the 0.8060 level and then showed a strong down move. I’ll wait for a retracement to enter if it occurs, if it doesn’t I’ll wait the break of todays lows.
Comments welcome!
l don’t get this trade idea at all Evermore.OK the weekly trend is down but on the daily the trend is up and price is possibly just re-tracing to the 20ema at the moment and it is above the 50 sma too.Shouldn’t we just be looking for longs just now? You could have traded the hesitation candles up above at Resistance back down, but the 20ema would have been your target.Personally, l would need a much stronger reason to risk my capital and go short against the trend at this point.
Just my 2p of course and good luck if you take it.
HI EVERMORE…
i would be a little reluctant to take this trade until the price has decided what its going to do when it meets the resistance above it.
it may bounce off resistance and drop…but if price moves upwards it may pass through the resistance above and that is where you could go long.
if you look at the 4 hour chart…price has tried to get through support 3 times in the past 2 days…and yes it has not succeeded…so tomorrow it may not even bother with retracing to the higher resistance it may just drop…and then you got yourself a deal…
so basically the way i see it …is currently price has tried to pass through resistance above a few times…and it has also tried to pass through support below a few times…so the situation is total indecision…from my point of view and probably too early to comit to a trade idea…
anyway . thats just my thoughts on it.
Hey guys, thanks all of you for sharing your ideas with me. I appreciate all of you for giving your opinions and views on the market, even if they are totally opposite of what I see. That’s the beauty of it!! In the end it’s a bussiness of probabilities and finding an edge which puts the odds on our favor.
BTW, trade got activated, let’s see how it goes. Also EUR/GBP closed lower which makes me very happy 
nice one evermore…you ended up going long i take it…that way you get a good few pips and then can short as soon as you close the traade if it looks like its ready to bounce off resistance.