I wouldn't touch this kind of pin. I prefer them to come at swing lows after a sharp drop and see them appear in "space" - away from other bars to the left of them.
...Such as the EURCHF daily pin!
that looks like a nice setup, great confluence...
Have got stop at 1.5300 which is just below high of daily pin.
not the best place to put a stop...
Well done Eltrot
I am in with a 120 point stop.
Fib 50% is confluencing with a strong resistance level, also, it really looks like the end of a retacement in a very baris market. This seems to be supported by fundamentals around too. And the beauty of this setup that you only have to check it tomorrow
Only worrying thing is the support unreneath at around 1.50652 will move stops in as we are getting there.
well, almost hit my stop.... holding on to it as nothing else can be done.
Yes this one tiny little bit of info changed the whole landscape isn't it?
Hi HW
I am in the same position as yourself.......will just tough it out and seee what happens.
Hopefully it will come back down. I suppose these things happen in trading, though I must confess I knew nothing about swiss I\R decisions. As someone once said 'in trading, expect the unexpected'.
I'm also in this, as are most of the james16 thread - after a quiet couple of days i think everyone jumped on that one. Reckon there must be enough wishful thinking out there to force it down:cheesy:
that is a good one
Feels much better knowing i am not sitting alone in this
The lesson well learned again: always check at least the most basic announcements for the day regarding the pair you want to trade.
btw is coming down a bit.
Any reason why you drew in the pivot there and not higher up, Tom?
I too would be keen to know why the ppz was drawn there td. Am a follower of J16 too and trying to get to grips with drawing these zones in the right places.