Mate just as a suggestion price hasn't made a lower low here. This is a higher low and you have actually shorted the forming of the lower low, if you had waited for the lower low and then taken the short at the breach of that the trade might not have triggered. Also when price turns around from making hh hl to lh ll try pacing the stop above the hh and not the pullback. I usually use pullbacks for break outs not a change in direction. Hope that makes sense, just how I view it nothing wrong it what you’ve done just thought it might of been of interest.
pocrel
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hi mate how was your day , been out all day so just back and thanks for the analysis, just to clarify what you are saying
should i have shorted 12258 instead 12273? is that a proper LL ?
where i shorted was the low of the pull back?
i like to short the 123 reversal signal that is what i was using ,perhaps my stop was to tight and i agree it should be over the old high but i am trying to keep things tight, may get hit more often but when you get a runner then this recovers all very quickly
should i have shorted 12258 instead 12273? is that a proper LL ?
where i shorted was the low of the pull back?
i like to short the 123 reversal signal that is what i was using ,perhaps my stop was to tight and i agree it should be over the old high but i am trying to keep things tight, may get hit more often but when you get a runner then this recovers all very quickly
Hi Pat
on my chart it looks like its broke the line. Not really seeing much movement at the moment. I expect it to go through at pace on a slope that angle.
If you look at the swing points they show a different story at the moment on the daily it is showing higher lows and potentially higher highs. The last retracement failed to hit the bottom trendline and therefore is likely to push higher. Another example is eurusd.
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pocrel
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morning mate,
just carrying on up at the moment, no resitence at all, maybe a double top at the 50 area
everything seems o be in a corrective mode at the moment and i am finding it hard to jusdge the trends, it seems everything is changing a little and with non farm tomorrow we could see rallies all day, just my opinion
what you looking at today?
I think what you're looking for in order to see a retracement is the first example where price manages to retrace back to the line, but as you can see in the second picture has failed on the downside to retrace back to the bottom line and is therefore likely to break the upper trendline early.
I'm not long EURUSD, but i'm short USDCHF about 50 points higher. EURUSD looks like its struggling, but i'm hopeful by the end of the day it will break 1.2354. I'm finding it hard to go long EURUSD and trying to keep away from it.
pocrel
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well just getting back into the country and having a quick look over the charts, nfp does nt seem to have diasappointed again and finally push the euro lower also hammering aud/usd
so will be looking for some pullback on these pairs to short again
8300 level on aud/usd would be good place to look to short(propr support becoming resitence)
need a nice pullback on most pairs before we can go short again, defintly only looking for short at the moment and this has proved pretty good lately
Not sure if anyone trades GAPs tonight but there could be some big ones tonight usually after nfp when asian markets get there first chance to trade it
these gap trades have always closed the gap and massive profits very quickly if you have the nerve, you can trade them from 9pm on city index which i will be looking at
looking forward to tomorrow morning and i hope we can get some nice pips
so will be looking for some pullback on these pairs to short again
8300 level on aud/usd would be good place to look to short(propr support becoming resitence)
need a nice pullback on most pairs before we can go short again, defintly only looking for short at the moment and this has proved pretty good lately
Not sure if anyone trades GAPs tonight but there could be some big ones tonight usually after nfp when asian markets get there first chance to trade it
these gap trades have always closed the gap and massive profits very quickly if you have the nerve, you can trade them from 9pm on city index which i will be looking at
looking forward to tomorrow morning and i hope we can get some nice pips
