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- Piggleop replied Feb 26, 2010
Would you consider the second-to-last bar bearish engulfing, Mike? I plan to give this trade a relatively loose stop basedo nthe assumption that the engulfing formation + bounce off resistance and try to ride a decent pip move. edit: I realize the ...
- Piggleop replied Feb 26, 2010
So in forex I'm guessing this pattern doesnt appear too often? What I meant earlier by no gaps in forex making engulfing patterns more rare is just that: often in stocks I would play... I would see an uptrend, a gap up and then a retracement down ...
- Piggleop replied Feb 26, 2010
I realize it doesn't engulf the entire previous candle. Isn't this very difficult to do in forex, seeing as there aren't gaps? Are you implying that I shouldn't be making a trade with a near-bearish candle and must be more selective?
- Piggleop replied Feb 26, 2010
Bearish engulfing, forget what it's called on bar charts, at resistance level.
- Piggleop replied Feb 26, 2010
EUR/USD - SHORT I was wondering what you guys thought about this. A bearish reversal signal, at resistance, after a long run up...Is this okay to fight the trend given such a clear signal? I've been working on situations a lot like this. I like to ...
- Piggleop replied Feb 25, 2010
So here, you're not worried about the recent action meaning a downswing is temporarily exhausted. It's almost like you're making a flag play here...do you take the recent drop as actually a good reason for going short here? I would assume the price ...
- Piggleop replied Feb 25, 2010
Thanks for the detailed response. Yea, S/R and price action is something I'm working on, in addition to trading with the trend. I've found that the best thing about s/r is the r:r ratio - you know when you need to exit the trade because a bounce off ...
- Piggleop replied Feb 24, 2010
nzd/usd - A mistake I've been making recently (i think), is trying to catch reversals based on being "oversold". This means I'm not seeing patterns indicating a change in trend but rather I assume price will bounce off support after a substantial ...
- Piggleop replied Feb 24, 2010
GBP/JPY - so I was wondering what others thought about my plans here. There's a substantial break of support (and i missed it cuz i was doing other stuff ) but I think this indicates a lot of bearishness. I'm going to wait till a retracement and ...
- Piggleop replied Feb 24, 2010
USD/JPY - nother controversial situation. Here's another situation where I'm trying to figure out what to do. Ive read lots of books about catching reversals with candles + RSI, but it hasn't been working to well for me. If this pair broke upwards ...
- Piggleop replied Feb 24, 2010
good point, on the 4-hour chart it seems to be range-bound, so actually if it breaks from support I'd consider it trending downwards. Short term, though, the trend is definitely down (last 20+ candles or something like that). Do you think this is a ...
- Piggleop replied Feb 24, 2010
GBP/JPY - looking to go long Ok so this is my first post in this thread, was looking for some input on my thoughts about this trade. The price seems to be testing the lows, but without much strength. As explained in my graph, im looking to go long ...
- Piggleop replied Feb 23, 2010
I realize the original post answers this question to some extent (but not fully), but I'd like confirmation from real traders. If i subscribe for, say, 2 months to the official James16 website, would i be able to print everything I need within that ...
- Piggleop replied Feb 23, 2010
I realize the original post answers this question to some extent (but not fully), but I'd like confirmation from real traders. If i subscribe for, say, 2 months to the official James16 website, would i be able to print everything I need within that ...
- Piggleop replied Feb 23, 2010
Ah well I trade stocks so I'm aware of the emotional aspect of trading. I've found the best way for me to trade stocks is to almost pretend I'm trading demo instead of real money, but still taking it very seriously. To help integrate the emotional ...
- Piggleop replied Feb 23, 2010
currently i'm only demo-trading on forex because I'm new to this market. So, I'm using very short time frames to analyze trades because I have a LOT of spare time (im in college). So I figure I may as well speed up the learning curve by trading ...
- Piggleop replied Feb 23, 2010
Another question I have. I've read that in the 70s/80s people started coming up with systems trading using computers. At the time these systems worked splendidly but when others started jumping on board, the broke down because the markets became ...
- Piggleop replied Feb 23, 2010
It's nice to know everyone here is looking to help. As for me being lazy, quite the contrary I love trading. Not even for the money but rather just because it's fun to constantly improve. So yea im going to start form the beginning but I think I'm ...
- Piggleop replied Feb 23, 2010
Wow I got to say I thought my trading method was simple, (only price action with rsi sometimes)...this is some great stuff from what I've read. I don't get why you guys don't use candles though? To me, they show the same patterns you guys talk about ...
- Piggleop replied Feb 23, 2010
Thanks for the reply, I want to clarify that I don't plan to just jump on board right away and scrap my old ways of trading. Rather, I want to integrate what is in this thread into my own trading method. So it sounds like the best thing to do is ...