What time frame is that? I can agree with a long bias. Just proceed with caution and dont look for a break above that pin bar. I would look for it to run into the resistance level of that previous swing all the way to the left if it were me. Not harm in sitting out though when you are unsure. Surely dont take my advise.
Sorry about that man. Its the Daily. If I was to get in long id wana get in as close to 1.6000 as possible 
EDIT: Sorry to hear about your stuff getting stolen. Hope insurers give you no trouble.
Agreed. I would try to keep that stop as small as possible though and shoot to TP at the 1.62 fig or there abouts.
oh, sorry for hear bad news from Bob. I’ve just got back from the garden, raked some leaves from one point to another. no need to be jealous, freezing cold here as well. but what is happening here. something is moving here too from one point to another, hah.
Thank Kores but all of it was insured so no worries just sets me back a bit thats all. Besides my remodeling is a little behind schedule anyway. Now its really behind schedule lol.
Can anyone stop in for a drink…
I’ve been checking out the COT report for the Yen over the last month, and it seems to be looking bullish for the yen, though he Commercials are backing off a bit. Naturally this would mean a change to the bullish usd/jpy trend (meaning a short.)
I would appreciate any thoughts on this. We’re at 87.40 right now, and I could see a good argument for the dollar gaining up to 92, which is a figure, home of some good historic resistance, and the 200% extension of the 2012 low/high. Any thoughts would be appreciated. Anyone bullish on the Yen.
I found the stats you put together on pivots quite interesting. I hope you don’t mind if I add a few more. Forgive me if these are common knowledge and too elementary. If you want to toss me out of the joint and tell me to never come back I’ll understand.
For the EUR/USD (the past 406 trading days with daily pivots calculated at the NY close)
If price opens above the pivot (but below R1):
Price will go beyond the R1 level 52.7% of the time.
Price will drop below S1 only 34.6% of the time.
If price opens below the pivot (but above S1):
Price will drop below the S1 level 57% of the time.
Price will go beyond R1 only 35.3% of the time.
How far and how often price will go beyond the R1/S1 levels was kindly provided by HoG.
[I]*The 57% found for EUR/USD is a bit of an anomaly. For the GBP/USD, the percentages are a much more even 53.2 and 53.3, respectively. Other pairs seem to track much more closely with the GBP with only a slight variation here and there. Averaged, the EUR 57 and 52.7 percentages come to 54.8% which actually falls right in line with GBP and the rest.[/I]
So what does this tell us? Pivot points actually can be one of the few leading indicators out there (they are calculated at the close for the next trading day). By going long at the start of every day when price opens above the pivot is obviously not a trading system in and of itself but it does help overcome one very important hurdle – it beats the spread on most of the majors which is actually no small feat. Most “systems” are really nothing more than random entries and using pivots can help eliminate some of the randomness. More importantly, pivots can also keep the trader out of those trades which are stacked against him by 65% (shorting when price opens above the pivot and expecting it to reach the S1 level and vice versa). A 65% chance that price will NOT get to a certain level? Well… I find it useful.
Pivots can also act as predictive trend lines. If today’s pivot is above yesterday’s pivot and price opens above today’s pivot then the percentages are skewed even more. Instead of having to overcome that 65% obstacle the percentage increases to around 70%.
Only taking trades on the right side of the pivot, combined with some other trading method(s) such as supply and demand levels, price action, etc., should at least give novice traders a fighting chance at long term profits and possibly assist veteran traders that have just never really considered using them.
I hope there was something useful in there for someone.
What I see is that U/Y is losing momentum, there is a good resistance from 88.60 to 89.10, if I see good bearish PA then I will go short but only for a retracement around 84.50 (best case scenario)
I remain in Bullish Bias. But…, see the chart below.
This pair is aggressively move to upside from last year November (we can see it starts from september last though). This pair didn’t retrace then. But now like yunny said the the upside momentum is losing. Now the pair is retracing to down.
My perspective on UJ is, We could see a retracement up to 85.80/60 area for rejoin the uptrend. The 88.40 is a previous support on weekly chart (just zoom it) (of course it clearly resisted) and the 85.80/60 is the next support.
So, If the pair move to the support level and show a buying signal then join for the ride to upside. Or If it move from here to up then look for selling signal below 89.00 or buy if the resistance broke upside. The target will be 92.00.
Okey, Buy me a Tequila. 
Sorry I’ve been MIA last few days gang, bloody tooth has been causing me nothing but grief, got the nerve removed from it today and I’m getting a crown on it on Monday so hopefully that should sort it all out.
So not much good at commenting on the last few posts as I’ve not really looked at a chart in any great detail this week. Normal service will hopefully be resumed as soon as possible.
[U][B]Bobmaninc[/B][/U]
Totally gutted to hear about the break in mate. It happened to me a few years ago and it’s an awful feeling knowing that some Ba****d has been in your house. Having said that we found out who did it and I can assure you mate the score got settled. But sorry to hear about it anyway.
Hogarste, you’re always welcome to stop by anytime for a dram.
So like I mentioned earlier, not much good at commenting on the charts right now guys, will try to get into it a bit more tomorrow even if I don’t trade this week.
I hope baby yunny had a pleasant Christmas ( daddy and mummy yuuny too LOL!!)
Ok, it is time to get my hands dirty again 
I’ll try to post some charts and trades that i am taking
Short @ 1.3080 SL 1.3192 TP 1.2880
EUR/USD Daily
Thanks HoG, the very same to your family.
We had very beautiful xmas this year… baby yunny 
is a blessing
Reasons for entering yunny?
Congrats on the newborn baby btw 
Thank you Aesthetic
Reason to enter the trade is S/R and PA, the blue line is previous support now turn into resistance and PA shows a rejection from that level.
I know I am counter trend trading the weekly trend but let’s see if this works…
Good Catch yunny.
Congrats on the new born baby. Enjoy.
I really like this trade. The Commercials seem to be expecting lower prices, and your target seems totally logical. I split my order up a little after playing with fibs, and am going with lower overall SL and a little less profit, but we’ll see. Perhaps a nice start to the year.
Also congrats… My daughter is six, but it seems like she was a toddler a couple of days ago. Kids really are awesome.
I agree, counter trend trades are relevant. We can’t always take with trend.
One thing I would like to ask those who trade the higher time frame such as ST and Yunny,
If on your daily/4 hour charts your opinion is uptrend/downtrend would you do a counter intraday trade against this on the 1 HR and below? Surely this is too risky?
Reason I ask is I’m comfortable taking pin bar or engulfing bar reversals which are counter trend now and then on the daily charts (I’m looking to start playing with the 4 HR in the future) but I ALWAYS pass on trades on 1 HR and below which are against the trend.
The market disagreed with my analysis… SL hit 
I’m so sorry yunny! are you canceling the plan? I see opportunity on EN and EC, what to choose?
CadChf will reverse, I would think a 90-100 pip . or NChf will?