Someone always has to ruin the fun;( If anything it will head down to the 110.7 area to then head back to retest if this was the case ;)
javiertu
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@TradZ, I agree, I do not see that long "leg" happening. But if it does, that will mean I still do not know much :(
oualiash
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@javiertu, I agree with you, i think it's just a retracement.
TradZ
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@oualiash, @javiertu 0ne must observe the higher time-frames. This will give you an estimate of how far down the pullback should go. And 0nce you see that Big Green Bar appear, preferably on the 15 and 1 hr., it's time to get back in if your out like myself. I took profit and am not awaiting yet, another nice entry ;)
Updates coming soon...
TradZ
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@TradZ,
So I re-entered but was not patient enough to wait for a better entry. I was caught up making music & did not hear my price alarm go off. By the time I checked, price was around 111.37 & so I entered @111.327 now with a TARGET set@111.527. Something told me to re-enter@111 earlier but it was a hard call!
Let's see where this takes me 0r us now lol
Updates 0n the way....
javiertu
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@TradZ, so according to whitelilies that leg heading south should start about anytime soon... if so.
javiertu
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@TradZ, alright alright alright :) I appreciate that
TradZ
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@javiertu, ;) What Candlesticks do you happen to use if don't mind me asking? Using Heikin-Ashi Candlesticks gives me a HUGE advantage as you can clearly see the trend oppose to regular candlesticks. It's more to it but, this is my secret weapon I discovered last year. I remembered hearing someone here mentioning H.A. Candles and so one day I decided to apply to the charts and when I did, my eyes opened up WIDE! So I took it upon myself to learn them.
You need to learn how to analyse both candlesticks to have an advantage ;)
Well, I'm still in the trade and it's going well. Hopefully it hits 111.527 and then I will see where to enter yet again 2mrw morning. It's going to be a BIG day 2mrw with BOJ news taking place late in the day. And we have early U.S. news(mortage apps).
Later!
javiertu
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@TradZ, I also like HA candles but I feel like I get more real price information looking at the regular candles. For the big picture or trend I look at the D 4H 1H charts and for order entry 5m 1m charts. I also look at the economic data that you mentioned and quickly also check on MACD, RSI and BBands. Sounds like much noise but with the time you get use to all that music :)