Price bounced back up again after touching 1.32 level (yellow dotted line on the chart).
I keep this short position, and wait for another test (and breakout) of this level.
Patience will be rewarded, now it's time for price action
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DislikedPair had a very nice run up. Now may be retracing. Just for fun, if price breaks down through that line marked at the bottom of the wick, I am going to try to ride the pair down.Ignored
DislikedBe careful with this one.
You could almost see and feel the invisible hand of BOJ
I am already long in this one and wait for a test of the BO level to add to the position.
There is no resistance on the upside for the next 100 pips.
So, I want to see some nice price actionIgnored
DislikedUSDCAD, bearish H4 3T.
This one is for the watchlist.
RSI's are not yet in agreement, just as the colour of the last candle.
Price is testing new lows around .94 level.Ignored
DislikedI totally agree with you. I am thinking it will take off long again too, but wanted to grab 20-30 pips on the pull back if possible....just to keep it interesting.Ignored
DislikedPair had a very nice run up. Now may be retracing. Just for fun, if price breaks down through that line marked at the bottom of the wick, I am going to try to ride the pair down.Ignored
DislikedYes !!!
Exactly !!!
Once the 94 level breaks, that will be the target for this downmove
And I am seeing a red candle in the hourly Heiken AshiIgnored
DislikedIs that a 5EMA channel you are using?
Dean Malone recommends checking PA on an H4 chart with the 5EMA channel and not to trade until price closes outside the channel in desired direction. I have been checking out his suggestion. It's more conservative, but may be helpful in these difficult trading times.Ignored
DislikedThe channel is a 5 period Smoothed Average, using the high, the low and the median.
I got this from a video posted here on this thread.
You are probably right, I think it was Dean Malone on the video.
I use this to see if the ongoing trend is still intact or in some kind of consolidation or maybe even reversing.
Right now a new white candle appears on the H4 Heiken Ashi chart, it is still in the lower part of the channel, no trend reversal yet, but also no immediate continuation of the downtrend.
The channel still has a downward slope, so I consider...Ignored
DislikedI just finished a quick scan of 16 pairs and found four with directional confirmation: (If anyone finds another pair that I missed, just let me know)
USDCHF - short
EURGBP - long
GBPJPY - short
NZDUSD - long
Let's divide them up and analyze them together....volunteers jump in..please post your analysis..we can have more than one person per pair. I'll take NZDUSD.Ignored
When our trades lose money, whatever our logic, we can be sure we were not alone. But we can equally be sure that we were in the minority. Had we been in the majority the market would have performed as anticipated. The market decision process is that simple. It is a matter of putting our behavior in line with the majority as often as we can. The most effective tool to achieve that is our own empirically tested market psychology. We are the market, if only we can let ourselves mimic the mind of the market and not permit individuality to rule our decisions.
DislikedIs that a 5EMA channel you are using?
Dean Malone recommends checking PA on an H4 chart with the 5EMA channel and not to trade until price closes outside the channel in desired direction. I have been checking out his suggestion. It's more conservative, but may be helpful in these difficult trading times.Ignored
Disliked[font=Helvetica][size=3][font=Helvetica][size=3][left]When our trades lose money, whatever our logic, we can be sure we were not alone. But we can equally be sure that we were in the minority. Had we been in the majority the market would have performed as anticipated. The market decision process is that simple. It is a matter of putting our behavior in line with the majority as often as we can. The most effective tool to achieve that is our own empirically tested market psychology. We are the market, if only we can let ourselves mimic the mind of...Ignored