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This is a discussion on Making Money Trading within the First Steps forums, part of the Reception category; hi yawl sorry about the late post,i had to go to work after my last,but the eur/yen pin turned out ...

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Old May 14, 2008, 1:44am   #2266
Joined Feb 2007
hi yawl sorry about the late post,i had to go to work after my last,but the eur/yen pin turned out to be good.there wasnt a great deal of good confluence and i dont think TD would have played it??(a reply would be good TD??)but i liked the fact it was the the first good sign of a change in trend with good setups in stochs and the rsi.price also bounce off the 50 ema to the pip.the fibs are from the last big swing taken from the 4 hour charts and the last swing from the hourlys. any comments welcome

happy hunting
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Old May 14, 2008, 10:11am   #2267
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not a great time to go long on htis pair but a decent pin nether the less!!??gonna watch this one develope
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Old May 14, 2008, 10:32am   #2268
 
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Quote:
Originally Posted by jonj View Post
hi yawl sorry about the late post,i had to go to work after my last,but the eur/yen pin turned out to be good.there wasnt a great deal of good confluence and i dont think TD would have played it??(a reply would be good TD??)but i liked the fact it was the the first good sign of a change in trend with good setups in stochs and the rsi.price also bounce off the 50 ema to the pip.the fibs are from the last big swing taken from the 4 hour charts and the last swing from the hourlys. any comments welcome

happy hunting
I like that pin. Its those sort of pins:

Code:
Recent change in trend  ->               (rate getting up to 161.44 ish)
-> pullback ->                                   (pulling back to 160.10 ish)
-> pin at bottom of pullback ->        (the pin)
-> pips captured                               ( :) )
...that I have had best success with so far I think.

I did see it at the time and thought about it, but didnt trade it because eurjpy is a professional chopping machine and I always seem to get on the wrong side of it ! Its usually the best value pair to trade though, the spread is small and it moves big.

I would have probably traded it if I didnt have a eurjpy phobia
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Grrrind & chop.
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Old May 14, 2008, 12:00pm   #2269
 
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gb/jp

possible setup on gj beware candle has got over 60 mins left to complete
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Old May 14, 2008, 12:05pm   #2270
Joined Feb 2007
I did see it at the time and thought about it, but didnt trade it because eurjpy is a professional chopping machine and I always seem to get on the wrong side of it ! Its usually the best value pair to trade though, the spread is small and it moves big.

I would have probably traded it if I didnt have a eurjpy phobia [/QUOTE]

i know what you mean,i wont go near the chf fot the same reasons,even when it goes my way i get stopped out!!(hate the swiss)
only joking!
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Old May 14, 2008, 12:14pm   #2271
 
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Quote:
Originally Posted by jonj View Post
I did see it at the time and thought about it, but didnt trade it because eurjpy is a professional chopping machine and I always seem to get on the wrong side of it ! Its usually the best value pair to trade though, the spread is small and it moves big.

I would have probably traded it if I didnt have a eurjpy phobia
i know what you mean,i wont go near the chf fot the same reasons,even when it goes my way i get stopped out!!(hate the swiss)
only joking![/QUOTE]

gj not ej my friend
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Old May 14, 2008, 1:11pm   #2272
Ljr
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Anybody else get on the Eur/Usd Pin this morning? It has taken its time but starting to move up now.
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Old May 14, 2008, 1:12pm   #2273
 
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gj candle did not qualify,but the previous post i believe are the type of setup that do qualify
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Old May 14, 2008, 1:19pm   #2274
 
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Quote:
Originally Posted by Ljr View Post
Anybody else get on the Eur/Usd Pin this morning? It has taken its time but starting to move up now.
why not post a chart at what you are looking at,because different brokers have different times for there candle starts,ie odl the one i look at is GMT -1.it makes a differenceon the 4hr and dailies.it is a doji on mine
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Old May 14, 2008, 1:24pm   #2275
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I would have probably traded it if I didnt have a eurjpy phobia [/QUOTE]

yeah i know the feeling,i wont go near the chf for the same reasons,even when it goes my way i ussualy get stopped out!!
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Old May 14, 2008, 1:26pm   #2276
Joined Feb 2007
the euro buck pin has been TOO slow for my liking ,i didnt take this trade as i thought it a bit too dubious concidering the currently stronger usd. if the price breaks todays high i would start to get interested,especilly if it goes past the 154.85 ragion.
theres a pin on the gb/us 4hour chart also(not a very good one) which formed at about the same time as the euro but again im not convinced,gonna sit on the sideline again ,
anyway going to my real job (unfortunately)
happy hunting yawl.
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Last edited by jonj; May 14, 2008 at 1:36pm. Reason: attached a chart
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Old May 14, 2008, 2:07pm   #2277
 
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i do think im in the right area on GJ as the 30m has posted a double top and pin,might have a £1 on this now if it can break the rising trend
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Old May 14, 2008, 2:27pm   #2278
Ljr
Joined Jan 2008
Quote:
Originally Posted by superspurs View Post
why not post a chart at what you are looking at,because different brokers have different times for there candle starts,ie odl the one i look at is GMT -1.it makes a differenceon the 4hr and dailies.it is a doji on mine
Sorry not too easy to post charts while I'm at work bu here goes. The Pin is on the hourly GMT +1. The line at the bottom that the Pin touches is S/R from the Daily Chart

Having another look the body is not really far enough up for a perfect Pin (almost a doji) but the body is small and the confluence with the daily support line gave me extra confidence.
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Last edited by Ljr; May 14, 2008 at 2:33pm. Reason: comment on Pin
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Old May 14, 2008, 3:47pm   #2279
 
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took a long on ej @162.67,breakout trade and pullback
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Old May 14, 2008, 4:26pm   #2280
Joined Oct 2007
Just wanted to give a heads up on the daily cable chart,looks as if it is forming a beautiful pin bar.
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