Nikita-
Please shed some light on this. I am going thru this forum again and trying to understand things.
This previous day was a pull back of a bearish candle on GU(sounds like should be looking to BUY). AU & EU I checked were strong bearish candles.
Then you did an early asian session entry and yet said entry was late? (based on what candle?)
Please clarify.
Thanks
Sorry, for a few questions back and forth.
Please explain what do āTwo Bar Reversalsā or āInside Barsā Indicate.
Also, I looked and looked in this thread to locate Breakout, Pullback, Continuation.
Can you please explain in little detail to what BPC is?
Thanks
Hey bob there arenāt any USDX in my symbols, I do see Silver, Gold and Zar against USD though.
AmanFX, I am sorry I cant comment much on this trade as it happened a long time ago and I have had hundreds since.
Its better for you to look at the current chart and ask questions off that.
No much point in looking at historic data or trades.
Most of my earlier trade chart postings were just to show that this method works.
Apparently two bar reversals and Inside bars indicate price reversals also. I rarely use them and I cant vouch for them.
As for BPC, Ill go through the thread and point out the posts that highlights this.
But the entire thread is about BPC entries.
Well that just sucks then. I would try to hit up Oanda as I am sure they have it. I use forex ltd for MT4 so it might be different.
thanks again bob and nikiā¦ always helpfulā¦ its all clear to me nowā¦ everytime I read this thread I feel hopefulā¦ ahehehe! getting too emo nowā¦ brushing it offā¦ heheā¦ I hope u wont get tired in helping newbiesā¦ thanks so much! :*
Hey Niki, Bob and all other great contributors to the thread,
I have finally finished up with the thread thus far and that really really took quite a lot of effort, but Iām happy with that and with learning from all the meaningful charts posted in this thread. I āthinkā I sort of get Nikiās method of trading, but Iām pretty sure I need hell lots of practice in order to be even decent at it.
My weakness in trading is definitely patience and I do jump the gun all the time. Already lost 2weeks consecutively (~10% of my account. Luckily its demo :30: but still hurts nonetheless.
For the next week Im going to strive to keep myself out on the sidelines and try to observe PA (and also train my patience).
I hope you guys wonāt get tired in helping newbies like me as bebehto had just mentioned and I hope to be greedy and ask for more opinions from the pros here XD.
Finally, I would really like to say thank you for the great 100+ pages thread that has exposed me to this trading concept.
Wishing everyone a great Chinese New Year and happy pipping for the days to come!
Hi all
I have one question pls.
Letās say today is a buy day and the pair went up say 100 pips during Asian and European session. Now just one hour before US session open if the pair does retracement(solid pin bar etc). Would it be better to enter right at next candle with a buy at the start of US session?
Or is it better to wait another hour and see what US wants to do?
Thanks
How would we know what US would want to do based on the charts>?
Hereās the trade i enetered today before 2 hours of opening of London sessionā¦
EURUSD daily chartā¦yesterday was a buy and also it was a bullish trend past few days.
EURUSD H1 chart
As you can see there was a tweezer bottom formedā¦i have entered Long exactly at the red arrow mark and have exited at the high of the beside candle with a profitā¦i just wanted to ask you guys if this was a valid entry or should i wait till london or new york seesion for a valid entry point.
up or down for USD pairs??
Its a crappy monday this one.
I meant to say wait for another candle.
Tuesday Morning, at 9AM EST. This at the moment is no co-relation for USD pairs. Right?
Nikita, remember a couple of weeks ago I mentioned that I plotted S&R lines based on the monthly candle high and low and that there might be something there.
I tested using it as my entry point i.e. if it touches the S&R line and there seem to be a good degree of chance for you to make maximum pips with very low SL. I.e. enter at S&R line and either fully close or partial close your position at the next S&R line.
I am still experimenting with it, was side tracked this pass 2 weeks with another experiment and now I am going back to doing this.
Gimme 2-3 weeks and Iāll report back my findings. I find that doing this method gives a bit more certainty to your entry points and makes this strategy more mechanical.
Hereās the link to my post => 301 Moved Permanently
Cheers!
I can tell you now that monthly high and lows to hold value as S/R levels. Also use quarterly highs and lows:54:
Sorry Bob, do you mean to say that monthly high and low are good S&R lines or are they not good? How do you get quarterly highs and lows on MT4 by the way?
Yes they are good to use thats what I meant to say it didnt come out right. To get quarterly highs and lows just look at either a weekly or monthly chart and plot them the old school way (by hand lol)
1st quarter is from Jan-March
2nd quarter is from April-June
3rd Quarter is from July-Sept
4th quarter is from Oct-Dec
By plotting Quarterly highs and lows you will find more often then not a change in market flow right about the change in the Quarter. Makes for a strong S/R level.
Question guys,
EU GU and AU pairs have been moving up the whole of this week and Iām spotting a shooting star signal on the daily for yesterday for most of the pairs.
From the rule āif yesterday is a buy then today is a buyā, Iām not really sure what I should be looking to do now. It does still seem to be bullish in my opinion, though i may be totally wrong about that.
Does this correlation indicate that the uptrend is at an end and I should look at shorting?
A shooting star is an important candle stick formation. However a shooting star by itself means nothing. If it is on a valid S/R level or trend line something with it then I would look to short. By itself I would disregard it. Also with it being Friday I would personally sit it out. By the time it does reverse (if it does) it will be late in the day when price starts slowing down for the weekend.
Should have read this before putting in my trade.