Hey everyone, just throwing out there that I have added some info about FXCM to the introduction post #1, and created an area in the quick navigation section for previously asked FXCM questions. I know we have had some good questions asked before but I am not feeling eager enough to search those out so I will link any new FXCM questions as they come in.
The key support and resistance levels tell us historically where the market supply and demand has shifted, and the price action false break give us the actual signal that momentum is shifting.
well going to take is as a retracement which reduces the stoploss and reduced the lot size. easy.
darth
doesnt look too goodā¦
Iām still developing a daily process per say, as right now I spend too much time in front of the charts. My goal is to check the charts twice a day, once anytime after 5PM-EST close to set orders, and once in the mornings around 9ish to monitor, spending no more than 1/2 hour each time. I only trade pin bars right now on horizontal & diagonal support levels, sometimes 21/50/100 EMA levels. I donāt trade Friday candlesticks and havenāt held a trade over the weekend yet. Everything Iāve learned has come through completing the babypips school and reading this entire thread, start to finish. Keep in mind this is only one month, talk to me in a year when thereās enough statistical data to see if Iām on the right track haha.
[QUOTE=āgoldpips;598237ā]Can some one me tell me what I missed in this setup.
I took this setup in my demo account.
Thanks[/QUOTE]
For me, this is a pin bar at a good level, whether it will keep going up, who knows? There is some news coming out of AUS in about 40mins which will have an affect one way or the other. Personally, Iām in this one.
[QUOTE=āMr B A Barracus;598252ā]
For me, this is a pin bar at a good level, whether it will keep going up, who knows? There is some news coming out of AUS in about 40mins which will have an affect one way or the other. Personally, Iām in this one.[/QUOTE]
Sorry, my mistake, Aussie news is tomorrow nightā¦
[QUOTE=āMr B A Barracus;598254ā]
Sorry, my mistake, Aussie news is tomorrow nightā¦[/QUOTE]
Hmmm not so keen on that bullish pin bar on the monthly, any thoughts?
My support is @1.0732 so RR is not in my favour. Everything else seems fine.
For me i have already pending sell order here @ 1.0798
my KHL is 1.08650
So for me i think is still good trade up to now
[QUOTE=āfahedksa;598476ā] For me i have already pending sell order here @ 1.0798 my KHL is 1.08650 So for me i think is still good trade up to now[/QUOTE]
Hello Fahedksa - newbie question hereā¦ with the PA Signal of a Pin bar in the AUDNZD off the daily chart, you are attempting to enter @ 1.0798, I assume that you are doing more of a break out entry instead of entering on a pull back?
Hmmmm that pin bar on XAUUSD 4hr looks sweet, problem is it looks kind of choppy below or is that just me, certainly the best pin bar Iāve seen on gold for a while, anyone taken it?
Hey BA - I am still in my short trade from the BEEB on the daily which I posted a while backā¦been chopping since entryā¦but I have to say that thi PB has cheered me up - I donāt get a PB on the 4h but I get a nice one on the 8h, being a higher time frame should be more reliable. 
still half an hour to NY close but the daily on XAUUSD also looking good for shortsā¦large bearish pin/hikkake developingā¦at res level
[QUOTE=āmancamy;598711ā]
Hey BA - I am still in my short trade from the BEEB on the daily which I posted a while backā¦been chopping since entryā¦but I have to say that thi PB has cheered me up - I donāt get a PB on the 4h but I get a nice one on the 8h, being a higher time frame should be more reliable. 
<img src=ā301 Moved Permanentlyā/>[/QUOTE]
Hey Amy,
Nice trading! I want in on this but canāt get my head around the pip value on gold, Iāve never traded it before. I get when the contract size is 100 buts itās 10 with my broker and has confused me lol Iām such a newbie!
[QUOTE=āMr B A Barracus;598736ā]
Hey Amy,
Nice trading! I want in on this but canāt get my head around the pip value on gold, Iāve never traded it before. I get when the contract size is 100 buts itās 10 with my broker and has confused me lol Iām such a newbie![/QUOTE]
Grrrr so frustrated that Iām going to have to pass on this because I just donāt get how much Iām risking. I usually risk 0.05 currently per lot on currencyās, does anyone know how that would equate to gold with a contract size of 10?
My entry after cross PinBar + 10-15 pips usualy
Only just seen this BA, my broker FXCM has a feature that shows the value you are risking once you set your stop, I found itās a bit more expensive I think than the currencies but not by much so depending on the size of your account you should be able to take a normal sized position. The FXCM trading station desktop platform on a demo account should show you how much your stop loss set is riskingā¦