Candles and Confluence

[trader_dante]

...if you are wrong, price come back 90% of the time at breakout point, so....

And the other 10%?

 

[neil]

I took this pin bar on Friday. Made 100 pips.

The pin on this one pushed thro resistance and was rejected = better prospect.
The Pin on the AUD didn't test resistance (short tail) and was in a lot of sideways traffic - thus is not a good risk imho.

 

[barjon]

surprised no-one mentioned this

peek at key number, then quick retreat

 

[trader_dante]

surprised no-one mentioned this

peek at key number, then quick retreat

Good call. There was one on the S&P also. Those got me short more or less right at the top.

 

[Splitlink]

Too late for me, Jon. I watch the FT more than anything else and caught the trade at 1100, which turned out ok. Anyway, yours is worth watching for next week.

 

[inzider]

And the other 10%?

Do you really need me to answer that!?

If 90% of the time entry are good, then it gonna cover the 10% time that price hit your SL....

Voila!

 

[rsd886647]

I see what you mean about the pin bar and resistance.

I am in this trade at the moment. The weekly shows that price has pushed through a major support level, could be headed down quite a bit from here, I sold short on the retrace back.

On Friday, we saw a pin bar with the trend form, so I am confident Monday will see price fall.

 

[rsd886647]

I'm also in this GBPUSD trade.

 

[rsd886647]

I am looking at a signal on the gbpjpy, shorting at about 144, looking to take it down to 142 for a 200 pip gain.

 

[rsd886647]

I have a theory about this eurusd set-up. I thought I'd post it before the event and see if it transpires. We have price hitting a key level at 50% fib retracement in a downward trend. We have a large white 4 hr candle and an inside bar with 2 hrs to its close. I think we may see this 4 hr bar close as is, then I will be looking for the next one to take out the high of the prior white candle before price drops. I feel there could be a drop through 1.3826 if this happens.

 

[FXTrend240]

hey! i got the 4HR eurusd pin bar a the 50% too, killer trade .

 

[MrGecko]

GS; 200dma is in the mixer too

 

[rsd886647]

Nicee.

 

[rsd886647]

I am watching the AUDUSD tomorrow and tuesday, hoping that a push up sees higher prices rejected, with perhaps a reversal pin bar forming. I would look to be shorting if this happens.

 

[Splitlink]

I dont know about the confluence part of this but your Aus$/US$ chart interested me no end, because I am on that one. TRO may not be popular with some, but I have developed a liking for some of his stuff---to be honest, a lot I don't get but, as I said before, everyone knows something, you just have to get what it is.

rsd, I copied your chart and added my thoughts to it. Lets see how it turns out.

 

[rsd886647]

Not sure who TRO is? I am learning from Nial Fuller, a top tier trader. The chart I posted was one he first suggested we look at. I have since taken a position on a long set-up. I have highlighted what made me go long and my target area.

 

[Splitlink]

Not sure who TRO is? I am learning from Nial Fuller, a top tier trader. The chart I posted was one he first suggested we look at. I have since taken a position on a long set-up. I have highlighted what made me go long and my target area.

Sorry to have interupted you, there. It was that I am with that pair at present and thought that I would comment on it

TRO (The Rumpled One) has a long thread, which I have tried more fully to understand, without success, although I'm sure that he is a good bloke and it's my fault. What I did get out of him, early on, and has always been in my book, is the significance of a line that cuts a row of bars. The higher the TF, the better, as is usually the case with most signals. Glad that you are getting along ok with NF. Best of luck.

 

[Vaco]

I TRO may not be popular with some, but I have developed a liking for some of his stuff---to be honest, a lot I don't get but, as I said before, everyone knows something, you just have to get what it is.

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which of his stuff is it that you are finding useful, he does have some good ideas but i find the way he posts them to be difficult to grasp, some of his indicators leave the screen very cluttered as well.

 

[RBurgess]

Not sure who TRO is? I am learning from Nial Fuller, a top tier trader. The chart I posted was one he first suggested we look at. I have since taken a position on a long set-up. I have highlighted what made me go long and my target area.

Did you enter long on break of the inside bar range?

I've looked at Nial's free tube vids. He focuses too much on bar patterns and shapes rather than price itself for me, but his teaching method is very clear and easy to grasp, and I'm sure he does well trading it.

 

[RBurgess]

which of his stuff is it that you are finding useful, he does have some good ideas but i find the way he posts them to be difficult to grasp, some of his indicators leave the screen very cluttered as well.

You can trade TRO's stuff without using his indicators, they just save trawling charts for his setups. I had a go at trading the 'green rat' last year fairly unsuccessfully.

The thing is, throughout all his content he's never posted a snap shot of his trading log or account. And there's a minimum fee of $50 for his 'premium' indicators. It's hard to justify spending a few weeks trying to unravel his posts.