My thoughts as well. At least with 1.3121 the profit margin is decent. At this point, long might get screwed on 1.3121 and initiating a short on this PA is just a common sense bad idea.

EURUSD

What justification do you have for this? The closest level I would even consider shorting at is 88.93, and that would be contingent on good price action verifying the reversal. Weekly chart attached.

USD/JPY Discussion

Automating anything worthwhile is a lot harder than you probably think it is. Most of the good methodologies of trading, particularly using price action and levels for a pullback, are best done with the human eye, as our minds can quickly put ...

Is selling low/buying high possible?

Eloquently written, I completely agree. The whole notion of rescuing a position is counterproductive and just another "management" trick that leads to nowhere. Some have stated that this thread is not about whether or not rescuing a position is a ...

How to rescue a losing position?

Looks like Cable having some trouble breaking the support level here at BRN 1.60. Of special note, EUR/USD is having a similar situation. While currency correlation has been poor recently, it's something to think about. No PA setups to grab yet ...

Cable Update (GBPUSD)

Interesting daily pinbar forming precisely off of the 1.30 BRN. The question now is, will it confirm and break above support turned resistance or fail?

EURUSD

The ones I prefer are the ones that stick out after a first interaction with a s/r zone...that tells me that there's been a clear rejection and that control has probably switched. But those kinds of setups are rare and I'm considering some of the ...

Price Action and Trading Discussion

Yeah I thought that might have been what you meant, but at the same time brokers sometimes have different opens and closes. Not sure how it could have ended up a pinbar today but I was open to alternative views. I love pinbars, but I have a real ...

Price Action and Trading Discussion

Where?

Price Action and Trading Discussion

Agreed, trying to find a good entry here.

EURUSD

See this post I made a little while ago. There are a couple of setups to choose from, but neither of them are long.

Price Action and Trading Discussion

I don't know if anybody watches the exotics crosses but USD/DKK might present an opportunity in tandem with the franc. I think the kroner may be a little more defined though.

EURUSD

Come back when you're still making a profit in a year.

EURUSD

The problem with most of these "systems" is that they only work under certain market conditions. Once conditions change...for example, from trending to ranging or vice versa, all your profits will fly out the window. Some traders think they can ...

EURUSD

My closest zone is 1.31256 to 1.31384. Really depends on what time frame you're using to create them, though.

EURUSD

Swing traders might want to keep an eye on this setup. Price is approaching the used up demand zone that may provide significant supply now. I'll be waiting for price action to confirm. An additional factor in favor of this trade is the fact that ...

USD/CHF

Damn Chicky, that was kind of harsh. And yes an interesting move right now. This is the first real re-test of our double top from before - I wonder if we'll have a significant bounce or not.

EURUSD

I think maybe his biggest gripe is with the word "will". Nobody can predict the market with absolute certainty.

Cable Update (GBPUSD)

I'm staying out of this market for a while since the technicals are well borked. Part of me wants to say this thing is still going to hold and head south because the spike was made on big news with light volume while big orders were absent, but ...

Cable Update (GBPUSD)

It's your money. For now, anyway.

EUR/GBP - What a great pair to trade!