I’ll be keeping my eyes on the USDSGD over the next day or so as it hits a very interesting level where a lot of selling pressure has historically been.
Anyone else tempted by the USDCAD Pinbar on the daily? It’s counter trend and would have been nice if it was bigger but it is at a VBRN.
Hi Guys, what do you think of the Daily pinbar on USDCAD? its on an old resistance from the past and also it seems to have rejected the very important 1.10000 psycological level
I know itws a counter-trend and Ive been shorting the USDCAD since a few weeks with not very good results, but maybe thisone could work…
[QUOTE=“cheva282;591792”]Hi Guys, what do you think of the Daily pinbar on USDCAD? its on an old resistance from the past and also it seems to have rejected the very important 1.10000 psycological level
I know itws a counter-trend and Ive been shorting the USDCAD since a few weeks with not very good results, but maybe thisone could work…[/QUOTE]
Hey Cheva
I’ve been mulling over this one since I noticed it earlier - it seems a bit too much of a gamble for me and could go either way. Although its at a key level, it has been on a fairly strong uptrend. I’m sitting out for now - would like to hear what others say.
I agree with you on this. Not only do we have solid bullish momentum for the past few weeks but we are also up here in no mans land so it’s hard to find solid levels to trade from. This may move down but it’s hard to tell just how far it will go before finding support again. We have EMAs that will be coming up from underneath as support and also from what I can tell a fairly solid support @1.0865, just 100 pips away. These type of odds that favor bullish support are usually what keep me from taking CT trades.
Hi Cap,
what about EUR/CHF? In the past, I realized that the Swiss Central Bank active intervention had made it unattractive for traders to put their dough there. C’mon, it was flat for months with outrageous spike back then! :58:
But now, I could see that EURCHF looks normally volatile and tradable for my taste. What do you all think? EURCHF, everyone?
[QUOTE=“wm247;591853”]
Hi Cap,
what about EUR/CHF? In the past, I realized that the Swiss Central Bank active intervention had made it unattractive for traders to put their dough there. C’mon, it was flat for months with outrageous spike back then! :58:
But now, I could see that EURCHF looks normally volatile and tradable for my taste. What do you all think? EURCHF, everyone?[/QUOTE]
Hey WM247
I’m actually in this one off the 4hr engulfing pin bar earlier today, I liked what I saw and thought I’d take my chances. I’m not sure how it will play out but I liked how many of the CHF pairs seem to be signalling a strengthening in the Swiss dollar, I’m not risking much so thought I’d stick with it.
[QUOTE=“krugman25;591850”]
I agree with you on this. Not only do we have solid bullish momentum for the past few weeks but we are also up here in no mans land so it’s hard to find solid levels to trade from. This may move down but it’s hard to tell just how far it will go before finding support again. We have EMAs that will be coming up from underneath as support and also from what I can tell a fairly solid support @1.0865, just 100 pips away. These type of odds that favor bullish support are usually what keep me from taking CT trades.[/QUOTE]
Thanks Aaron, it sounds like im on the right path. I am trying to take better set ups than I have of late so will definetly feel better watching this from the sidelines.
Hi Aaron,
My name is Ramesh I am Christian, husband, IT consultant working in Singapore. I have started trading with basic PA from past year but not active for 6 months because i was not confident of my approach/analysis and felt its very basic.
My capital (rather very small) increased by 30% in first 6 months which i think due to strict money management and less about my PA knowledge. I felt my analysis is not accurate and started looking for other techniques/topics and even went far to use technical indicators that i dont understand to find the correct method which suits for me but find none to my satisfaction.
Finally i am very much happy to land at your thread, this is what i was hungry for understanding the market dynamics, analyzing the trade step by step. I have been reading the thread for few weeks and it totally made me feel confident and comfortable to get into trading again. I would like to post my analysis here and sure you or other experts here help me.
You are teaching here free something that we may not get even pay hundreds of $. sorry i am not that good in english. Thanks again Aaron.
Welcome Ramesh, glad to have you on board.
I must say 30% in 6 months is fantastic!!!
Especially if you feel not confidient, PA is a great systems and if wasn’t for some dumb trades I made last year i would be have had some nice profit. Just ask lots of questions and you will get all the help you need.
Darth
Hey,
I wouldn’t on this one, still looks like a lot of momentum in this pair - probably safer to wait for a double top before shorting?
Nice bullish engulfing pin bar on the AUDGBP 4hr:
I’d rate this trade pretty highly, its with trend, at a good RS level and is a nice big signal.
Thanks Jon487, I reckon your right there, lets see what happens with it.
Welcome Ramesh, looking forward to hearing your analysis, please email me if you should need the Trader 60000 at any point.
Hi Aaron, not to sound impolite, but I have some time waiting for your new articles. I love the way you explain things.
Thank you for supporting.
[QUOTE=“krugman25;591774”] Thanks for dropping a post here jwilldunk. I am glad to hear you are liking the thread. It is pretty rich in educational material and has only been running for 4-5 months. To be honest I have really only scratched the surface on a few various topics. If you don’t mind, tell us a little about yourself and your experience with trading/price action. Welcome to the Price Action that Matters community![/QUOTE]
Thanks for the nice welcome message. I got interested in PA about 2 years ago. I studied it for about a year and did some demo trading with mixed results. I took about a year off (work and 4 young kids will do that for you).
I am also a Christian and was very happy to see your post about your faith. I work in software sales for a large company.
I am now back to studying PA and put my learning to trading again (first in demo, then live). My goal is to become a profitable trader to supplement my income. I am most interested in PA using Daily Charts. Being that I work full time, i am trying to find a workable process for profitable trading (on daily charts) while doing my normal day job.
Any advice or guidance is welcome!!
Welcome Ramesh, feel free to ask anything and pos charts with setup We are glad to help!
hi all,
I am long GBPUSD, from break of inside bar/mother bar at support on daily chart (there was also a pin bar on the weekly).
I have put a wide stop on this one below daily MB low and weekly PB low. My first target area is 1.660 (Ie the last significant high) but I am wondering whether it could go further or is that being greedy? I am not one for scaling out and taking partial profits but if I don’t at 1.66 I am thinking I may end up with egg on face (i.e. stopped out at BE or worse). Thoughts?
Just made a quick 3% profit on a rising wedge intra-day setup on the CADCHF. I will post screenshots with full analysis on my lunch break. I challenge members to check out the charts and see if they can identify the pattern I traded.
Nice catch Mr Krugman, wish I’d got in on that one…hmmmm I’m not sure but I will play along, was it anything like this:
