90438Welcome!Originally Posted by ;
90438Welcome!
96037I'm in this trade since this morning. So far hasn't moved. The TL bounces off .
Looking at a setup that I believe was similar to the EURJPY of the morning. Seems to be rebounding off TL / downward sloping channel, 61.8 retrace ect. Stoch's. Are going into over bought ( I dont put much weight on those, just a small amount of additional conformation) Please review this and let me know if I am on the right path.
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90438 I Am also in USDJPY on a bounce from upper TL. Was in profit as you can view and it has retraced.
96037Ouch! Tuesday, I got bitten. Can it be a bank holiday; or was barking up the wrong tree?
96037Hi Monk,
Yes that is pretty much bang on which I had! If you can keep choosing these amounts you will be well on your way
96037Hi JayTrader,
Looking at a setup that I believe was like the EURJPY of this morning. Seems to be rebounding off TL / downward sloping channel, 61.8 retrace ect. Stoch's. Are moving into over purchased ( I dont put much weight on those, just a small amount of additional conformation) Please critique this and let me know if I am on the right track.
Require Care
Yes looks great to me. I have that same level in my chart though it got ruined. I was waiting . Fantastic thing too.
Well done keep going!
96037Hi Winston,
Another Wonderful setup. However I was a little reluctant about regretting this pair and hence was waiting for complete verification before entering.
The reason I was reluctant is fundamentally I don't believe the Yen deserves to be as strong and what with all the BOJ intervening last season, this pair should provide me a good reason to short.
My 2 cents.
96037This is a bank holiday but I don't think you're barking up the wrong tree although I don't know what your setup was that you are referring to.Ouch! Tuesday I got bitten. Can it be a bank holiday; or was I barking up the wrong tree?
Losses are part of this game and can be very illogical. I've been stopped out before other than volatility.
As long as our system has a border which it will in the long run you will earn money. It is just a question of having the ability to trade a sample dimensions that is huge to allow your advantage to perform out. This means keep your leverage and positions small.
96037Hi Micardo. Interesting thread and I'm going to read it. Please excuse this correction which I noticed. Couldn't help it...
No it isn't. The fib should have been drawn from the swing high. For that reason, it is not a 61.8 level.
96037Fibonacci is quite subjective. Yes it is possible to say that it is by 20 pips but in the grand scheme of things it's in the area.
Recall that the forex market does not undergo a centralised exchanged and therefor there is no one price. For this reason you really can't see levels as the pip because feeds will give you different prices.
For me the most important thing is that the price action, therefore I know that if I get price action in an area of the chart that holds some weight I will enter. It doesn't matter if it's to the pip with regards to this level so long as it is enough to allow me to know that the markets will also be paying attention to it.
But okay if you are being picky you can move it up 20 or so pips to enrue it's from the real swing high. :-)
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