Best Thread Potential setups
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grimweasel
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Ljr,
I has my stop at 8097 on gbpjpy which my NF and FXPro charts both show as not being hit?
Odd?
Grim
I has my stop at 8097 on gbpjpy which my NF and FXPro charts both show as not being hit?
Odd?
Grim
superspurs
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weeklys are great love them,nice tip about posting.
ym has gapped up 200 pts
ym has gapped up 200 pts
superspurs
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did someone know something
ps this is a test post
ps this is a test post
On the IG charts the high has been 8099.6 so looks like you were unluckly and stop touched within a pip or 2. Think this is where 1Pipped got his name from. maybe he can offer some advice
I entered on the weekly and stop is at 8190. Not sure why you had your stop there but I see there was a previous spike up on Friday on the hourly chart with a high of 8100. I usually try put my stop just above previous highs like that if I was going to put the stop around that level.
Anyway I guess this doesn't help you much now. Forget it and move on.
grimweasel
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Gees I'm getting hooked on the Weekly TF
Have a look at UsdCad
There is a Pin on the Weekly. Would have liked the body a bit lower and also not strickly at a swing high.....
but comming off a descending TL
touching previous support
lining up with 61.8 fib from Feb 2007 to Nov 2007
What do you guys think?
View attachment 39642
P.S. Just found a quicker way to show the attachment directly in the post.
Upload the attachment as usual and while typing in your post click on the paper clip again.
Ljr,
Your pin on the weekly USDCAD stands out really well, yet the same TF on NF/FX Pro (MT4) shows a different pin (ie not really a pin bar). Do you use the charts provided by IG or do you have a pro-real time acount? It's the little things like this that matter when one's money is on the line!
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grimweasel
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TD,
Thanks for the update on the EMAs. A clear chart really does define the PA and the PA stands out above everything else that way!
LJr,
Thanks for the tip mate. Looking at the chart I set my stop above the last high on the 15m chart of Fri evening on NF MT4. As you say, forget it and move on!
Note to self; Stops defined on the TF that you enter on, not lower! Tw@t!!
Grim
Thanks for the update on the EMAs. A clear chart really does define the PA and the PA stands out above everything else that way!
LJr,
Thanks for the tip mate. Looking at the chart I set my stop above the last high on the 15m chart of Fri evening on NF MT4. As you say, forget it and move on!
Note to self; Stops defined on the TF that you enter on, not lower! Tw@t!!
Grim
I use the IG charts. The different charts really can show things quite differently. For example the IG charts didn't show a Daily Pin on GbpJpy at all but the MT4 chart on my FXDD demo account showed a great Pin.
trader_dante
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Damn. Just ballsed up that gap play on Eur/Jpy. lol.
The plan was to sell the gap and cut and reverse when it filled as I am now bullish from the daily pin.
Well, I was short Eur/Jpy for the whole gap. The gap filled perfectly so first half of the plan executed. Then I thought a little too long about whether I should simply close and pat myself on the back or cut and reverse.
Time I had thought about it, the market is up 70 pips from my entry.
LOL. No more praise for me.
Total amateur.
Lesson to take from this: Plans are made in times when you are rational. When you are not at the mercy of your emotions. That is why we make them before we enter the market. Once you are in, all you need to do is execute and put the mental processes in sleep mode where they are subdued (but can come to live at a minutes notice if the market changes significantly to need to alter the plan).
The plan was to sell the gap and cut and reverse when it filled as I am now bullish from the daily pin.
Well, I was short Eur/Jpy for the whole gap. The gap filled perfectly so first half of the plan executed. Then I thought a little too long about whether I should simply close and pat myself on the back or cut and reverse.
Time I had thought about it, the market is up 70 pips from my entry.
LOL. No more praise for me.
Total amateur.
Lesson to take from this: Plans are made in times when you are rational. When you are not at the mercy of your emotions. That is why we make them before we enter the market. Once you are in, all you need to do is execute and put the mental processes in sleep mode where they are subdued (but can come to live at a minutes notice if the market changes significantly to need to alter the plan).
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1Pipped
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Think this is where 1Pipped got his name from. maybe he can offer some advice
Forget it and move on.
It used to make me over the top furious
but when I realised it happened just as often in my favour, it didnt bother me so much.Even if you start putting your stops a few pips higher/lower to try and avoid it, its still going to happen!
What I do is I think of the stop as a bet saying 'I bet abc market isnt going to touch that stop', as soon as it touches the stop - end of bet. I was wrong and its 100% irrelevant what happens next (ie: market reversing after 1 pip) because its not going to affect me in any way
Sounds like you had a unlucky Monday morning Grim, hope its not pissed you off too much
I am trying the same thing on gbpchf....... wish me luck!
eltrot1979
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I rode this gap down too and was considering getting in long off the hourly pin bar thats shaping up.
EDIT: looking more like a BUOB rather than a pin now!
How did you play the gap. I set an order just below the bearish outside bar that formed on the hourly last night. I almost canceled it this morning as the high of the BEOB had been broken before the short triggered, but I thought it was worth a risk and it turned out well in the end!
trader_dante
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I rode this gap down too and was considering getting in long off the hourly pin bar thats shaping up.
EDIT: looking more like a BUOB rather than a pin now!
How did you play the gap. I set an order just below the bearish outside bar that formed on the hourly last night. I almost canceled it this morning as the high of the BEOB had been broken before the short triggered, but I thought it was worth a risk and it turned out well in the end!
Eltrot mate, sounds like you played it better than I did as you had almost no drawdown. I went short on the break of the inside bar at 1am. I had my stop above the BEOB too but then when it got up there I decided I would be covering at resistance as there is an S/R pivot there on the hourly so I moved my stop to above the previous swing high. I was 157 pips offside at one point. lol. Giving it the extra yard got me lucky but geez, moving your stops...not a good one. Very angry with myself even though it was a good winner. And if it had gone wrong I would have been burnt badly. I've had an uninterrupted winning streak for a while now but this trade goes to show, no matter how well you are doing, if you get complacent and drop the ball for even a second in this game, you can get carried out.
P.S Forgot to add, once it came off and broke the BEOB I held my balls and doubled up short
From largest open drawdown to position close was only just over a 1:1 though.
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trader_dante
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Look at this, we're all spoilt for choice. The 10 year T-Note has completely tanked after the daily pin...Bund has followed...FTSE up...lol.
grimweasel
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Omni,
Thanks very much for that. I never knew, so I'll be setting that up me thinks!!
Grim
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