Making Money Trading

This is a discussion on Making Money Trading within the First Steps forums, part of the Reception category; Originally Posted by pelzar Just wanted to give a heads up on the daily cable chart,looks as if it is ...

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Old May 14, 2008, 5:43pm   #2281
 
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Joined Sep 2007
Quote:
Originally Posted by pelzar View Post
Just wanted to give a heads up on the daily cable chart,looks as if it is forming a beautiful pin bar.
yeah bouncing at a really nice lookig price pivot

no obvious fib confluence though - but I think that price level is strong enough on its own

cheers

Jin

p.s. prob gone and jinxed the ****ard now........
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Old May 14, 2008, 6:49pm   #2282
Ljr
Joined Jan 2008
Quote:
Originally Posted by superspurs View Post
took a long on ej @162.67,breakout trade and pullback
Superspurs could I ask why did you not take a short with the first Pin. Admittadly the 2nd one looks a better Pin but you wouldn't have known that yet. Also why did you enter at 162.67. Was this based on a different timeframe to the hourly?

I'm not critising just want to understand.
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Old May 14, 2008, 6:57pm   #2283
Joined Oct 2006
for whatever, presently short EURUSD flipping on the one and 5 minute
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Old May 14, 2008, 7:49pm   #2284
 
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trader_dante started this thread Need eyes in the back of your head to trade these markets...

Excellent pin bar here on the Dow (YMM8) hourly. The red s/r pivot is not only an excellent flip on the hourly but also of considerable significance on daily and weekly TF.

This trade was crying out to be taken.

Pin bar came BEFORE the news and today confirmed what I have repeated previously - in my experience, the majority of the time when taking these trades, any news that comes out affects them positively.

Ignore the news.

Gosh...Firewalker would be proud of me...
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Old May 14, 2008, 9:15pm   #2285
 
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Quote:
Originally Posted by trader_dante View Post
Pin bar came BEFORE the news and today confirmed what I have repeated previously - in my experience, the majority of the time when taking these trades, any news that comes out affects them positively.
agree

It's like the "smart" money prices in the news before it comes out and their actions present nice price action to us.

BTW some nice pins on:
cable
EURCAD - long
GBPCAD (not as nice as others) -long
CADCHF (nice bounce off resistance + 150 + fib confl) - short

CAD looking weak - can't take em all so will look for the most suitable.

Jin
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cadchf140508.gif  
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Old May 14, 2008, 9:24pm   #2286
 
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Quote:
Originally Posted by Ljr View Post
Superspurs could I ask why did you not take a short with the first Pin. Admittadly the 2nd one looks a better Pin but you wouldn't have known that yet. Also why did you enter at 162.67. Was this based on a different timeframe to the hourly?

I'm not critising just want to understand.
i did not take first pin because i believed in the breakout of the flag formation,and again i wasn,t watching it and when i saw the 2nd pin i jumped in (probably chasing the price)
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Old May 14, 2008, 9:26pm   #2287
Joined Oct 2006
Quote:
Originally Posted by trader_dante View Post
Need eyes in the back of your head to trade these markets...

Excellent pin bar here on the Dow (YMM8) hourly. The red s/r pivot is not only an excellent flip on the hourly but also of considerable significance on daily and weekly TF.

This trade was crying out to be taken.

Pin bar came BEFORE the news and today confirmed what I have repeated previously - in my experience, the majority of the time when taking these trades, any news that comes out affects them positively.

Ignore the news.

dont ignore the news, but be aware of it, and TD, IM PROUD OF YOU and you had read my posts on the subject a month ago --- even gave me points for it !

fickle today ??

LOL

mp

Gosh...Firewalker would be proud of me...
mp
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Old May 14, 2008, 10:05pm   #2288
Joined Oct 2007
What about the S&P cash (daily) it looks like quite a nice pin bar, if you draw a fib from the the 11th october high to the 17th march low its almost bouncing off the 50% level??
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Old May 15, 2008, 7:48am   #2289
 
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trader_dante started this thread Something is wrong with Cable. It looks ill.
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Old May 15, 2008, 7:56am   #2290
 
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Quote:
Originally Posted by trader_dante View Post
Something is wrong with Cable. It looks ill.
In what way?

does seem to be struggling to clear yesterdays high
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Old May 15, 2008, 8:02am   #2291
 
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Quote:
Originally Posted by jinbal View Post
In what way?

does seem to be struggling to clear yesterdays high
Pronounced Dollar weakness across the board and Cable can't move higher?

This is a bad sign.
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Old May 15, 2008, 8:08am   #2292
 
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Just had a look and see what you mean

it seems like a case of the lesser of two evils - both currencies seem to be under pressure
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Old May 15, 2008, 8:12am   #2293
Joined Apr 2008
So you don't take the daily pin? I found this one to be a good setup...
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Old May 15, 2008, 8:26am   #2294
Joined Nov 2007
Check out ..........>>

EurCad
EurNok
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Old May 15, 2008, 9:00am   #2295
Joined Oct 2007
Check out... hourly crude oil (June 08) right off the trend line and bouncing perfectly off the 38% retracement.
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