Hi Dennis,
I realize Iām digging up the past here, but as Iām working my way through the thread, Iāve noticed this happen a few times and I want to ask before I forget about it. What I noticed is that sometimes the top and bottom pairs change, and you get in somewhere thatās already extended and continue riding the trend. As Iām following along with the charts I donāt see a pullback to the 200MA or an strong pinbar.
So my questions is: Whatās your strategy for entering trades like this one?
this is what i was referring to. thank you, eric
That is a watch list I put together on freestockcharts.com
one note when using this charting service is it for Stocks and will not give you a true closing price for FOREX as it uses midnight eastern time as the reset for daily charts. Still, I find it useful for tracking daily price moves
Now if you are all set I have some snow to shovel
first note I do not trade every pair, but if it is a pair I trade and support is over 100 pips away, I will just take a smaller position, trading a strong currency against a weak one is going to give you a lot of extended trades, you just have to manage your risk with position size
I hope this helps
Pound rebounded just enough to edge out EUR of the #1 spot, look at the GBPJPY chart and how price today tagged the daily 200 ma then pulled back if we are going to get any more out of the GBPJPY we have got to clear and hold the 200 ma
It does! thank you 
I did my best, it wasnāt much
I couldnāt feel, so I tried to touch
Iāve told the truth, I didnāt come to fool you
And even though it all went wrong
Iāll stand before the Lord of Song
With nothing on my tongue but Hallelujah
Well, thatās surprising ā the fourth stanza of the song Hallelujah.
Thatās not very troll-like, at all.
If you had come here initially with that attitude and tone,
I donāt think anyone would have picked on you.
I agree with Clint @The_Snowman say your peace, humble yourself, and end the troll shenanigans and weāll welcome you with open arms.
Letās see if the troll has truly reformed, Top SW Trade GBPJPY is leading the market higher today, look at the 1 hr chart and how Fridayās selloff in the Pound came down to and held the 200 ma. My favoret and most consistant point of support/resistance is the 200 ma on the 1hr chart,
Another day like today and the Pound will have taken back everything lost on Friday, But if we fail to make a new high tomorrow we then have a bearish formation, in other words, this can still go either way
some late day Yen strenth likely do to US interest rate hike,
Here is what I am seeing in the GBPJPY, last Friday we had the big engulfing red candle, followed by a 3-day partial retracement, that is bearish action. Price closed today just above the daily 200 ma, the 1hr 200 ma is just below that, anyone long would likely have a stop just below these two moving averages, that could add a lot of downward pressure should these support areas break. On the other hand, if support holds this has room to run much higher. Up or down this is set up for a pretty good move
whole Euro sector pullback today, Strength in CAD and USD,
Not an SW Trade but this is one great trend, look how price keeps pulling back to the 200 ma on the 4 hr chart, if this trend continues this is not a bad place to go short
With regard to chfjpy. It threw that perfectly shaped shooting star last friday. The textbooks would say sell. Strong weak analysis would say buy. The textbooks were right. But the percentage difference between chf and jpy had decreased which might be a signal to use. Though Iām thinking this might always be the case whenever a textbook shooting star is formed
Hi Dave
If you look at my Sept 25th post I said the following
Now here is the daily with that Pinbar top ( Shooting Star) , a good rule to have is not take trades in the face of a clear reversal pattern, here we had a daily reversal, and weekly triple top and this all happen on a Friday which is not a good day to put on new trades, and this is also a Yen trade which has not been good to us this year. Lots of reasons to leave this one alone, or at the very least let it prove its self and you can always get in on a secondary entry.
This is all part of the learning process
Hope this helps
Here is a year to date look at the Yen pairs, We see the USD is now YTD the strongest currency and with more Federal Reserve rate hikes scheduled I would expect this trend to continue, Also see how AUD is weakest, this is all do US trade tariffs against China. This all makes shorting AUDUSD an attractive trade. Just note one thing, any news of a rummor of a rummor there might be talks to lift these tariffs will cause some massive reversals
Wiser words were never said.