Thanks — Thanks

Textbook "Reversal Day" for GBPUSD

Pin Bar confirmed GBPUSD — Pin Bar confirmed GBPUSD

james16 Chart Thread

Pin Bar confirmed — Pin Bar confirmed

Textbook "Reversal Day" for GBPUSD

Yes, and very close to also being — Also, close to being a pin bar bearish signal. I am short at 1.9077, what SL would you place. Currently I put it at 5 pips higher than previews day's close. Thanks.

Textbook "Reversal Day" for GBPUSD

Pound — Pound opened 11 pips lower than friday's close

GBPUSD

Going down...take a look at the week ahead — http://bloomberg.com/apps/news?pid=20601087&sid=a3VTbsqSTiL0&refer=home

GBPUSD

Preview of this week — Hiring Pace Accelerated Last Month: U.S. Economy Preview By Vince Golle Oct. 29 (Bloomberg) -- The unemployment rate held at a five-year low in October and employers added more than twice as many jobs as a month earlier, ...

GDP revision

Irrelevant — With what is coming out monday morning, I would not worry about that Friday article but about this <TABLE class=tborder cellSpacing=0 cellPadding=3 width="100%" align=center border=0><THEAD><TR><TD class=alt2>8:30am </TD><TD ...

GDP revision

Book — Here is one source http://www.amazon.com/Technical-Analysis-Applications-Currency-Markets/dp/0735201471/theallinonesite Here is another http://www.amazon.com/o/ASIN/0471745936/ref=s9_asin_title_2/002-1625919-7652048/theallinonesite And ...

Is this the big reversal point for the dollar?

Operative word — the operative word is "BEFORE" and 2 hours is not a short time in Forex response to news, and it is not news, and it is not a revision either. Is an opinion by somebody that may have his own agenda

GDP revision

The books — The books that I have read on forex technical analysis unequivocally state that using formations on less than dailycharts is not reliable and not to be used.

Is this the big reversal point for the dollar?

Does this guy have an agenda? — AllianceBernstein is an asset management firm. I guess they are short the dollar.

GDP revision

Look at the date — Look at the date, October 27, 2006 15:14 EDT , that is old news

GDP revision

4h chart — Is that pattern valid on a 4h chart? My understanding was that it was valid on dailys and longer.

Is this the big reversal point for the dollar?

Too aggressive — It means that you are too aggressive, just give more slack when placing the SL and you will be in the trade automatically for the reversal

Stop loss, or reverse trend point?

Agreed — and why wait to short at 9000 to get just 30 pips, when a strong move down can get you at least 400, what is 30 compared to that?

Is this the big reversal point for the dollar?

Yes, — The fozzy method on the 4h is almost going negative, one more low tick and fozzy says to sell. I have been testing fozzy visually, not with the AE, on the 4h and it feels like 80% accurate. Most impressed.

GBPUSD

Agreed — Agree, although I have been looking at the thread ""Low Risk, High Reward Trading Experiment that supposedly is based on EW, and 80% of the recommendations turn up as losing money. I may start trading some by going vs. their picks. Is ...

Elliot Wave Trading

Yes — You did a nice job at the other thread posting all the upcoming news and the estimates and priors. Much better thant the Banana inflation factor for the AUD. LOL

GBPUSD