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  #79507  
Old Nov 8, 2010 5:44am
supremeChaos's Avatar
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will James16 drop by today?

Happy Birthday Sir.
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  #79580  
Old Nov 9, 2010 2:09am
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Quote:
Originally Posted by Pinbar View Post
Last line of defense is about to get challenged on AUD/NZD.
Let's see how it reacts to the 150 EMA with 50 fibo confluence and the TL.
Actually, maybe the 1.3000 is the very last line of defense.
unprecedented.

anyone got a chart going past prior 2005 for this pair? which broker?

imho, this pair is bullish on Daily & up.
i see 1.3000 getting blown sooner or later. then the 1.32 - 1.33 highs, then the sky (if 1.3200 area is indeed the overall high; & unless a 2008-like deleveraging recurs)
back to range below 1.2700

i'll be watching. unprecedented. interesting.


hey Sir joel, how about a first insightful post after your birthday?
i quick-read a news article, seems like RBA is trying to tame AUD rise.
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  #79584  
Old Nov 9, 2010 2:53am
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Quote:
Originally Posted by Pinbar View Post
..
And I also need to see it close below the 365
based on your perspective,
yes there may be a short opportunity.
only, u have to realize that a TL, a diagonal S/R if u like, is like a horizontal S/R -- it may or may not hold.

if u are shorting, imho u have to watch 1.2700 - 1.2850. these can stall u out (if buyers come in), specially if the current up trend is strong/asserts itself again soon.
for a downmove, imho, a convincing price action/momentum cutting through this area is imperative.

i rarely trade this pair, but i try to look at each pair 'with the same discerning eye'.
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  #79594  
Old Nov 9, 2010 5:12am
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a few might be interested in the cognition-related video here
http://www.forexfactory.com/showpost...81&postcount=7
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  #79618  
Old Nov 9, 2010 1:47pm
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Quote:
Originally Posted by nasir.khan View Post
I saw that video posted in that other thread and i passed on it and when i saw it posted here i choose to watch it.
lol
.
nyahahahah
sorry for wasting 18minutes of your time.

btw, what's up with gbpusd, eurusd?
it's already 1.45pm EST (DST mode right?; 2.45am my time) & they are still dropping.
make it stop i need to already

PA is wild today, maybe more of the same tomorrow.
let's see
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  #79622  
Old Nov 9, 2010 2:05pm
supremeChaos's Avatar
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Quote:
Originally Posted by nasir.khan View Post
No it was time well spent.
Today is the best day of the month for me. Look at gold.
.
Quote:
Originally Posted by nasir.khan View Post
and some opened positions
.
wow
u bought/sold everything!

stop it... dont make my eyes open that wide.
told u im about to already

truly awesome trades, nasir!
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  #79674  
Old Nov 10, 2010 8:21am
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Quote:
Originally Posted by Revstar View Post
afternoon all...
ps: wish rac cld see my development
nice trade Revstar.
for sure he is around... watching
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  #79856  
Old Nov 12, 2010 4:40am
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Quote:
Originally Posted by aserbfx View Post
hi guys.
hope you are all doing well.
i am back after nearly 3 weeks in hospital after a horrible car accident.
a truck crashed into my car.
..
so that's why u havent posted lately.

it's great to have u back,Sir
i pray that u'll heal very quickly
God bless
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  #79861  
Old Nov 12, 2010 6:14am
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Quote:
Originally Posted by squeezy View Post
sure found support @ 1.37..
wld have liked a stronger close on the buob though......
Quote:
Originally Posted by lovejoy80 View Post
Nice one....4HR pin followed and now 4HR BUOB...but like you say a poor close.
i think this is a good example of bar with a 'poor/unideal close' but a possible great trade, nevertheless.
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  #79863  
Old Nov 12, 2010 6:37am
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Quote:
Originally Posted by Carnegie View Post
..Now, I have attached a picture.
There are two BEOB bar and a divergence but never mind that.
...
Now my question is, if you have a setup that isn't very strong, and the market develops ANOTHER signal (two after eachother) does that make it OK to take the trade?...
Your English is suprerb..

the answer to your Q:
depends on your experience.
if u are still learning this method, it would best benefit u to follow Sir Mike's advice. he is very picky & his advice stems from the fact that he doesnt want traders get caught up in a bad/mediocre trade.
if u have relatively good experience with PA analysis & this method, u can trade anyway u want, including the setup (2 BEOBs at unideal locations) u presented here.

u must realize that price doesnt always present us with good/great setups (which moves with momentum & hits targets fairly quickly). the setup u presented happen often --- price along the way develops further, in favor of your trade (in this case, let's say u traded the first BEOB) so u can stay in the trade & see what happens.
once in a trade, trade management & S/R identification are crucial.

hope that helps
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  #79865  
Old Nov 12, 2010 7:00am
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Quote:
Originally Posted by Carnegie View Post
..
You say these BEOB are at unideal locations, what makes them unideal? Should they be at a swing high or low to be ideal?
And yes I will listen to Mike from now on but I wanted to ask if two setups after each other raises the 'probability of profitability' or what the name is.. If it stacks more odds in our favour.
Let's say I missed out on the first BEOB, would the second one give me more incentive (more setups = more momentum) to take the trade.
..
well, u have a short term memory like me, huh?
its unideal....
Quote:
Originally Posted by Carnegie View Post
..
Mike told me (when we only had that number 1 BEOB) that it wasn't a very safe trade and he was correct, because the high of it didn't protrude much above the other highs to show that there really are selling pressure there.
Anyway, what happened later was that we had a spinning top and the day after that another BEOB....
the bar setup (BEOB, PB etc) is a small part of the equation.
the location & S/R are important too --u always have to take them into account.
a BIG bar or 2 consecutive PA setups (like in your chart) is not always enough to break through, specially if u are heading into a strong S/R or PPZ.

in your chart, (is it audusd?), price is at 0.9900 round number. to the left of price, u can see price hovered around that area. so it's possible that price will stall & bounce from here (0.9900 may act as support) or break thru. whatever happens, u should be prepared to act accordingly (based on your risk profile -- u can take full profit, take partial profit, trail/tighten stop... assuming u are in a trade)
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  #79870  
Old Nov 12, 2010 7:50am
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no charts, but...
there's a Big bad BUOB on euraud Daily. (IBFX feed)
let's see how it closes today
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  #80132  
Old Nov 16, 2010 3:12am
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Quote:
Originally Posted by Pinbar View Post
....
Yeah, I already took two thirds off while scaling out at 60 & 130 pips + plus, the SL is currently at 1.28434, 80 pips above the 150 and, there is only a small portion left in currently 150 pips in profit.
....
great to know your trade went your way.

since u are online, see what happens around 1.2700 --- a snap back above it or good momentum below it.
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