[QUOTE=“Mr B A Barracus;567992”] Have a great trip Aaron! Thank you for the article which was a really interesting read, I am still processing it. All the best BA[/QUOTE]
Thank you BA. There is a lot to take in with the retracement article which is why I decided to break it into two parts. It is something you want to ware into, not immediately jump into the deep end. If you keep a journal of your trading, go back and look at your past trades and see what ones could you could have applied a retracement to and what the RR could have been compared to entering at the break.
Krugman mentioned that the Japanese are up to something this week. Are you going to do the news trading again? PA-wise, all JPY pairs seem promising. :)[/QUOTE]
Hey WM
This crossed my mind when I read the news forecast for the week it will depend on what the market is doing immediately before the announcement but absolutely something I will consider.
Thank you BA. There is a lot to take in with the retracement article which is why I decided to break it into two parts. It is something you want to ware into, not immediately jump into the deep end. If you keep a journal of your trading, go back and look at your past trades and see what ones could you could have applied a retracement to and what the RR could have been compared to entering at the break.[/QUOTE]
Thanks Aaron, I will do that. I will no doubt stick with the break of a PA signal for many of my trades but should an opportunity present itself to use retracement I will have a go with it again.
News trading is not in my trade plan, but I may take one if there is a really good PA signal in 15 - 30 minutes tf. Most likely I’ll stay in the sideline, but I really want to see how it goes. Dailyfx does not provide the exact time for the Japanese to take action this Thursday, so it’s a bummer.
[QUOTE=“krugman25;568014”]Thoughts on AUDNZD intra day Pinbar? I am on a plane so I can’t see, can someone tell me what the volume was on that Pinbar. Possibly post a SS?[/QUOTE]
[QUOTE=“Mr B A Barracus;568021”] Is the engulfing pin on the hourly?[/QUOTE]
I see a large pin in all Intra day TFs, up to the H4, and maybe the H8. It is also at a key daily/weekly support. It’s hard to get a good view on my iPhone. It looks like the bottom of a descending triangle on the daily.
My concern is the massive downward trend, as part of my trading plan I also no longer trade intraday signals on a Monday until the US wake up and even then I try to be cautious.
[QUOTE=“Mr B A Barracus;568025”] My concern is the massive downward trend, as part of my trading plan I also no longer trade intraday signals on a Monday until the US wake up and even then I try to be cautious.[/QUOTE]
That’s always my worry for Sunday/Monday, light volume.
I see a large pin in all Intra day TFs, up to the H4, and maybe the H8. It is also at a key daily/weekly support. It’s hard to get a good view on my iPhone. It looks like the bottom of a descending triangle on the daily.[/QUOTE]
We may be looking at different pins, mine isn’t an official pin bar as it doesn’t open and close in the previous bar. There is a tiny one on the hourly a little afterwards.
Doesn’t seem like a valid engulfing to me for now, we need to wait until the last candle is mature. May form 2 bar reversal, though.
However, even if it makes a valid 2-bar reversal, it seems to be pointing to wrong direction. Remember Krugman’s old idea, combining 2-bar reversal should give you a valid pinbar. That pinbar will looks smallish and inverted if we do.
Doesn’t seem like a valid engulfing to me for now, we need to wait until the last candle is mature. May form 2 bar reversal, though.
However, even if it makes a valid 2-bar reversal, it seems to be pointing to wrong direction. Remember Krugman’s old idea, combining 2-bar reversal should give you a valid pinbar. That pinbar will looks smallish and inverted if we do. :([/QUOTE]
I’m looking at the massive engulfing bar on the hourly that closed 5 bars back, I think that’s the one Aaron means.
it will depend on what the market is doing immediately before the announcement but absolutely something I will consider.
