Scary to think how many guys out there are still piling into the dollar…
I call that a one-way ticket on the pain train.
Bard, I don’t mind you commenting here, but let’s keep it constructive.
A simple google search of “forex pinbar context” can answer your question.
Send me a private message if you want to talk more.
Jake
Jake no need to. Sorry if you got offended it wasn’t my intention.
Happy trading$
No offense taken at all! Happy to see someone other than myself posting in this thread, to be honest… !
Cool man. I love plotting price action. It’s certainly a form of art in a technical sense.
AUDNZD weekly chart showing price action dancing around a key support level.
Notice how small the candles are on the daily chart compared to the big impulsive bearish candles.
But the 4h chart shows us some volatility with this pair as it’s tending to have more closes above the 20ema which signals more volatility in the order flow and may signal a reversal.
I know the Brexit is behind a lot of the volatility in the currency market. And I closed out my trades today with the exception of options I have on the GBPUSD. And I normally do not trade this pair, but if I did, I’d be looking to go long soon.
CADCHF 4h chart bullish channel broken to the downside.
A bigger picture to see what’s happening
Certainly bearish in my opinion. If look to short this pair.
SGDJPY is certainly bearish on the daily chart.
4h chart shows us an opportunity to place an order to get into the trend.
In light of the Brexit looming today we have nice price action set ups. I’m certainly not taking these positions but pointing out what a nice bullish set up we have on intraday 1h and 5m charts.
1h bounce off of key level
And the 5m has what appears to be a 3 point reversal or rather a reverse head and shoulders coming together.
SGDJPY plowed right through the level on my charts. However price is currently touching an upper channel level and the 200ema which may signal a reversal. Currently out of the markets until Monday but this trade originally would’ve been a loss. However this is another opportunity/probability to consider.
Hey Bard, not sure why you’re posting these charts?
Please start your own thread to journal your thoughts, as you aren’t doing anything other than journalling in my journal?
Pose a question or idea in a single post, with direct commentary @ me please, as the purpose of this thread is not for you to manage your charts and ideas.
This is a forum for free forex trading systems. Not sure why you think I’m journaling or why I’m getting hostility from you. First you were happy someone was posting on here but now you’re upset that someone is posting. What gives? Didn’t know you were using this as a public journal. No problem though, I’ll leave your so-called ‘journal’ alone before you give me another bi-polar episode.
That’s both unwarranted and insulting, Bard: the mistake here was yours, not Jake’s.
Really? The guy complains no one is interested in his topic, I get involved because I actually am he says he’s happy someone is showing interest, and now he gets upset that I’m posting charts. Am I in the wrong? Thought this section of the forum was for free forex trading systems, not public journaling.
He didn’t “get upset”, and what he said [B][U]certainly[/U][/B] wasn’t enough for you to accuse him of “bipolar” behaviour, Bard: that was just plain rude, and [I]totally[/I] unnecessary.
In my opinion; yes.
Before Jake posted, it had already occurred to me that your charts were out-of-place here, and would have been more appropriately posted in a thread of your own.
Please appreciate that I wasn’t commenting on your behaviour here purely for the sake of it, but only because this is actually the [U]third[/U] thread in the last week in which I’ve seen respected members understandably displeased by your posts here (and that’s rather concerning, when you’ve been a member for only two weeks). That sentiment’s an opinion, of course, but your gratuitous insult was objectively plain for all to see. Please don’t do that again, in this forum. Thanks for understanding.
Lexys what members are you talking about? Trust me I won’t post on this thread again but what respected members? This is an outright accusation so I think it’s fair you only point to these respected members.
First, as I took the trouble to specify, that part of what I said was [I]opinion only[/I]. Secondly, I don’t propose to occupy any further space in this thread with this nonsense. Thirdly, when you have enough posts on the board to use the private message facility, I’ll happily discuss it in more detail with you privately, if you still want to.
Meanwhile, I’m sure it would be appreciated all round if you have the decency to apologise to Jake for the gratuitous and unwarranted insult.
Sure. Apologies Jake.
Are you sure about this?
The commonly accepted “format” surroudning threads of this type, are for the thread owner to post their own analysis, trades, thoughts/ideas, and any other BP member who is interested in those specific pieces of analysis, trades, thoughts/ideas to comment directly on those items- not to post their own analysis in an arbitrary manner.
In other words, the first post of my thread lays out my approach to trading @ a high level.
Members can then see live trades I’ve made since the beginning of the year, and catch up on some of my analysis.
It would be odd for another member to start posting their own analysis in the thread that really has no connection to the material at hand. You’re just posting your own analysis here.
It’s sort of ‘accepted’ that posts within another member’s thread should be on topic to that thread.
If you want to share your analysis and how you see the charts, start your own thread- that’s what I was getting at.
So, typically ‘acceptable’ posts would be- Hey, I’m watching the Nikkei as well (After seeing one of my charts) I don’t think that the support level you’re watching is really key, here’s why, etc etc.
Or, Hey Jake- I noticed you talking a lot about order flow- how do you tie that into your analysis?
Look, at the end of the day, and to be quite honest- I really don’t even know why I still mess around w/ this forum. It’s a decent place to get a base understanding of FX, but the overwhelming majority of interactions I’ve seen over the years are just lazy. Everyone wants a handout or a shortcut and no one wants to take the time to thoroughly research anything on their own. And, I will say that it’s a vicious cycle I’ve contributed to over the years.
Unless someone on this forum is looking to eventually monetize their advice, I highly question their motives. Including my own, b/c as we all know damn well… Time = Money.
My motive for starting this thread, which I did not originally reveal, was to show underfunded retailers that they can “make it” with the absolute minimum deposit, whilst building up equity over time. It’s difficult, the odds are 98% against you, and it’s definitely a gamble. But, I’m fighting for the little guy and trying to plot an account history that shows you can start w/ as little as $50 in a mini account, and with avg leverage b/w 10-20x grow to a decent size over the course of a few years.
The idea was:
$50 initial deposit
4 months later, deposit $75
3 months later, deposit $100
2 months later, deposit $125
1 month later, deposit $150
So, with a decent strategy and the inability to set-aside significant money to an account up-front, @ a minimum you’d have $500 in equity roughly by the end of the year knowing that you had to save up to meet those final larger deposits.
You can use any denomination to begin w/ (Doesn’t need to be $50) but I chose that amount to prove that it is doable. @ the end of the year, you’d be able to lever up 10-20 times and put on decent-sized positions. The problem is that people typically just throw every $0.01 they can in an account, lever up, and lose it all within 3 months. The stipulation behind “allowing” the next deposit to hit your account is that you’re account is still positive. So, the account/strategy will actually reward you for being patient and protecting capital. If you’re reckless and can’t properly limit your need to trade, the next deposit never comes.
You essentially test your discipline to the cause for the first 4 months. If you can’t get out of the woods then, chances are you never will. It doesn’t mean sit on your hands and be defensive. It means that you need to prove you’re dedicated to the process and not focusing on the results (B/c they will be very small in the beginning). In other words, the potential exists for you to be on the sideline for a week, stalking a trade, journaling about it, taking the trade, managing it for another week, journaling it, all for a few dollars in profit. Process, not results.
Signing off for now.
Jake
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