Hey Bob,
Good intra-day spot.
Any update on this one? Seems like you might have taken some off the board now that its up by about 30, but let me know.
Kind Regards,
Chris Capre
I think its a decent play as the 4hr showed the same pattern. Would be nice to get some sort of pull back on the AU on the daily so I can jump in also 
Your not kidding Aesthetic I almost passed on this trade due to the daily being so over extended. But decided I have not got many signals like this one so I had better take it for spite if nothing else.
Chris it missed a TP for half by 1 pip and has since pulled up. Currently looking like its topping out and I am fairly confident we will make a lower low so it will tag it sooner or later. Final TP is 9600 or if price tags my trailing stop (latter is most likely).
Stop is at BE since I had to leave to a girls softball game. Only 1 game left in the season if we win we make the playoffs and it just happens to be on my birthday.
Hello Bob,
Good luck in the softball game today.
Seems like you protected the position so time to focus on something important now.
Kind Regards,
Chris Capre
Hello Traders,
In a follow up to my post from yesterday, the GU formed an intra-day bottom as expected. The trend transition was making itself known through the price action, and broke through the key aforementioned 1.5272, hitting the 1.5321 as expected, so hopefully you profited from that.
The pair did sell off heavily into the close, and is barely holding the level. If it fails, 1.5245 and 1.5200 are up next. For bulls, they will have to trip the stops above 1.5321 to bring in fresh upside.
Kind Regards,
Chris Capre
Hello Chris,
Obtaining an excellent grasp of a trading method thru superior understanding of a key level and a sound trade management are the foundation of the success of my chosen system. Together of course w/ other trading key components like, psychology, risk management, etc., etc…
Apart from being able to correctly identify key levels, there is this need of mine to balance between my risk tolerance (in terms of the number of pips) and not being left out of the price movement.
I have a fair amount of trades w/c are being stopped out before price went to my intended direction. Ditto w/ my pending orders not being filled out.
I am not acquainted w/ break out entry techniques but I guess have to study it more thoroughly now alongside w/ price action/reaction at a level as this could be the answer to the missing link to being stopped out often and limit orders not being hit. The other concern is where to place my protective stops.
I am reluctant to having larger stops than 35 pips and sometimes, this led me to getting stopped out early too.
This is precisely the reason why I have my foremost attention to key levels. I am reading and re-reading your articles about them in order for me to thoroughly absorb the concept. I believe I have now a better understanding of them but based on my performances there are still a lot to be desired.
Once I have a comprehensive knowledge about them I might be able to place trades w/ my desired protective stops not more than to what I am comfortable with in place. Or, if bigger sl is really needed, I can adjust to it w/ no worries believing I know what I am doing.
Cheers.
Very nice spot Bob,
I have been very eager to get back in but cannot seem to find the right timing.
Its been tuff on the Aussie to get in once to get tagged out. Although shorting has been great as of late I would not just short for that reason and the setups just have not been there. This is pretty much my only pair I trade and I pretty much only short it. I have gotten very good at spotting them but even I have struggled to get in on this. This should have been the moment I have been waiting years for and it finally came and to be honest I am almost disappointed in my results. Although green should have been a lot better. But I didnt see it coming and I trade what I see so it is what it is. All I can do now is collect all I can when I can and look for my next shot.
Hello Chris,
Thanks for your reply and more importantly, thank you so much for your ceaseless high-quality contributions to the trading community. I stumbled upon your blog just last week and it’s been such a blessing that I’m determined to finish reading every single article on it.
You only trade the aussie? Whys that then?
And its always easy to kick yourself after a bad trade, you just have to get over it ASAP.
After loosing $40 in two days, Gold looks all set to surge further down.
A price correction to a previous support/resistance zone and formation of a Pinbar on the H4
looks like a certain entry for a short trade…
Another dose of the dany magic
Hello All,
On the AUDCAD, I saw an opportunity to add shorts to my existing one. The down move seems to be over extended but a signal is a signal no matter how overstretched the move maybe. Trade what you see not what you think, right? 
Cheers.
Dany,
Agree Getting closer to the major support level. Looking for pullbacks to short.
AU pairs in a big trouble. I am still holding my 460+ pips AU trade from last week. This is one of my longest runs ever.
Some excellent trading here perry
well done all around
Hello Pipnol,
Its good to have you aboard. Definitely read/soak it all in as there are little gems abound.
But feel free to share your trades, comments, questions, and ideas, and I’ll definitely be happy to help with the learning process.
Kind Regards,
Chris Capre
Hello BF,
Sorry for the well overdue response. Hope your not mad at me.
A pullback is generally defined as a corrective move against the trend. So if we are in a down trend, then this would be a move that actually goes upward, but slightly and not impulsively. Usually they stop around the 20ema on the higher TFs, sometimes are shy, sometimes just past it, and often go for several bars (4-15), but we have to have a loose definition for this.
The general things to note about pullbacks is they are a) against the dominant trend, and b) generally corrective, and c) they often go to key levels.
Key levels are areas where there was a lot of order flow and price action at those levels. The heavy amount of price action - possibly a strong rejection/reaction, or several rejections there, or holding there, all indicate the buyers/sellers are placing a lot of orders there, because they feel its a serious level to defend or attack. Orders tend to congregate around key levels, and so we need to identify them as they become areas of defense for our trade, or areas to attack when they are weak, or areas for us to enter.
A lot can be said about key levels, so definitely check out the article above.
Does this answer your question regarding what a pullback is?
Kind Regards,
Chris Capre
Hello Chris,
Most of the pairs trending at the moment.
Any trading ideas before end of the week? 
Brendan
Hello Brendan,
Analyze the trend, then decide which strategy to employ (breakout, or pullback).
Ask yourself which type of strategy is favored on the AUDUSD pair?
What about the GU?
Those are the strong trenders at the moment, along with any aussie pair, so pick one, think about what kind of setup, then post it here and we’ll examine it.
Coolio?
Kind Regards,
Chris Capre
Thanks for the quick reply Chris. Really appreciated.
AU looks good to me. I am still learning to trade PA and please keep posting new learning materials.
Brendan