DislikedBeen watching this one all day, waiting 2 more hours to see how it closes. In the meantime lets see what Clockwork thinks.Ignored
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Silent room 2 replies
Silent Success of Patience 10 replies
My silent journal 4 replies
bo7a method... method for GBP/JPY 205 replies
Seeing Through the Silent Crash 4 replies
DislikedBeen watching this one all day, waiting 2 more hours to see how it closes. In the meantime lets see what Clockwork thinks.Ignored
DislikedLooking at a set up for a possible short on kiwi.
Daily Pin bar (daily bar closed as a Pin, although screen shot below shows it 30 mins prior to bar close)
Divergence on 4H
Weekly support 0.5950
Overall trend - Bearish
any thoughts CW?Ignored
DislikedCW - I had a question as to your E/J recent short. The trade went in your direction and then slightly against you (if I remember correctly?). Were you tempted to move your stop to break even or lock in some profits by moving stop lower? Maybe the nature of the set up warranted more time to let the trade run?
Thanks!Ignored
DislikedI am already short this one from the 4 hour pinbar (edit - I should say the pseudo pinbar. I know it wasn't perfect, but just look at where it stopped! 60.)Ignored
DislikedI honestly dont know the answer to that question, I think it depends on your broker. I use IBFX, and I am located in Arizona, which currently has joined PST. My daily closes at 8pm Est or 5pm Pst.Ignored
DislikedIn that case do you see anything wrong with entering it on the daily close then? I personally think this trade has room to move. What are your thoughts?Ignored
DislikedA chart we were watching on Wednesday in my webinar. Needless to say, I didn't take this trade. Ugh. (Had to work on Thursday, and plain forgot about it!) I got reminded by an email that someone sent me with a thanks for helping them make a lot of money. Oh well.Ignored
DislikedBoth of the PB's in your chart are suspect at best. None of the noses are poking out from the rest of the bars. I understand they were at important areas but they didnt jump out at me.
Do you have a different way of approaching PA in the futures market or am I missing something?Ignored
Dislikedhey CW,
how does the pinbar on USD/JPY look?
it's at a critical area (~100)
the nose is not terribly long but it looks decentIgnored
DislikedPersonally, I would like to see it clear 100 decisively first before shorting.Ignored
DislikedSeems to me that 102 is a more significant level to watch for UJ than 100, if you zoom out on the weekly. And if you take the H4 and apply a fib on a recent swing...the 161.8 extension is 102. Seems like price could easily make it to 102. That's probably a better place to take notice of the next trade on this pair....my 2 cents.
Cheers
CanuckCTIgnored
DislikedAlso I have a question about monthly pivot points.
CW, what is your opinion of pivot points? I notice you do not use them but you do watch MACD "because a lot of other people do", creating that self fulfilling prophecy aspect.
I have attached a chart from today. I am short EURJPY after yesterdays PA around the 1.37 level. I am not sure if those trendlines are helping or hindering but they seem to be working for now.
Getting back to the point, it could be argued that the 1.37 level in conjunction with the monthly R1 level makes for a stronger...Ignored
DislikedH,
I am a relative newbie, but I don't know anyone on this thread or the James16 Chart Thread that use floor trader pivot points. Instead, we use support/resistance levels and call them Price Pivot Zones, PPZ. Those zones act as much much stronger areas than the floor trader pivots (FTP). If a FTP is located at a PPZ, it is just coincidence for me. I suppose enough traders do use the FTP though, which could create that 'self fulfilling prophecy.'
This is just my 2 cents,
JoshIgnored
DislikedI suppose enough traders do use the FTP though, which could create that 'self fulfilling prophecy'.
JoshIgnored