Wedges and trendline breaks

interesting pattern on gbp/chf,

retest of the breakout area

nice daily pin bar off it

any break lower of the pin bar is a valid entry lets see how it goes on sunday night i will be shorting this

View attachment 91290

if anyone was watching that level yesterday you could have got in on the 4hour pin for a lovely trade
993.gif

if you can sit and wait and watch these support and resitence levels this happens all the time
 
interesting pattern on gbp/chf,

retest of the breakout area

nice daily pin bar off it

any break lower of the pin bar is a valid entry lets see how it goes on sunday night i will be shorting this

View attachment 91290

ok gbp/chf is flying down, decided to take half a posiotn at the 50% fib daily retrace and then added to my postion once the pin bars low was broke

locked in +50 on first half and my stop is at break even on second half

let hope it keeps dropping like a stone

aud4.gif
 
closing all of my gbp/chf trade as it comes into prior support

+98 on a half and
+83 on the other half

great start to the week

aud4.gif
 
Hi pocrel, just wondering if you still trade breakouts à la pozzyp? I haven't read your entire journal (I've been away from markets travelling for last month) but it appears you have changed your style?????

Great journal though, keep it up :)
 
Hi pocrel, just wondering if you still trade breakouts à la pozzyp? I haven't read your entire journal (I've been away from markets travelling for last month) but it appears you have changed your style?????

Great journal though, keep it up :)

thanks HC, hope the travels went well where did you go?

well mostly i am trying to slow down my trading using slower time frames but its not easy to do, during the day u need alot of sitting on your hands,

i am using pin bars trendline breaks support and resistence and wedges still, really need to see some price action support and resitence and fib levels at the areas i want to trade, simple tuff just trying to look for obvious areas that everyone else might be watching

as for pozzys stuff still using that not really showed anytrades on here, there was one today on the dow for me today happen to quick to show on here but this was it

pat.gif

green lines are the hourly range alot of support on the lower line so when that went i was down to the 5min chart for pullback then entry and the thing flew down to the previous support area

pat1.gif
have to be quick with the lower time frames and i was out beofre i knew it

but the target area was nt to far away
 
Well what a day, i was temped to long the gbp/jpy last night and i am so annoyed now i did nt 500 points today what a move, the pin bar was good enough to get us in who cares what the bank of japan did follow the strat price action is telling us where we are going they cant hide it

anyway someone sent me this great video let me know which one is your favourite

http://www.babelgum.com/Floored
 
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Hi pocrel,

Reading through your thread, thanks.
You have a UK flag, but your charts do not look like they are set to to UK time. What time zone are your charts set for?

Thanks
Jason
 
eur/usd on the radar this morning stuck in a range so waiting to see if it pops out for a long position, going to buy this if it pops not waiting for the pullback which you could do if you want just depends how much risk you like to take

993.gif
 
Hi pocrel,

Reading through your thread, thanks.
You have a UK flag, but your charts do not look like they are set to to UK time. What time zone are your charts set for?

Thanks
Jason

hi jason

my charts are setup at +1 uk time, so my daily candle closes at 11pm uk time
does nt matter on the hourly chart
 
eur/usd on the radar this morning stuck in a range so waiting to see if it pops out for a long position, going to buy this if it pops not waiting for the pullback which you could do if you want just depends how much risk you like to take

View attachment 91552


taking half of already +30

stop at breakeven

go eur
 
stopped out for +28

so +30 on a half and +28 on ther half

shme as i think this is going higher
 
Are you trading less trendline breaks now and more trading range breaks? I see you use fibonacci as well. I've looked at it before but have no idea how to use it, whether price reacted to a line or not always looked a bit random to me?! You seem to be doing well with it though!
 
Are you trading less trendline breaks now and more trading range breaks? I see you use fibonacci as well. I've looked at it before but have no idea how to use it, whether price reacted to a line or not always looked a bit random to me?! You seem to be doing well with it though!

hi sam how are thing? how is the trading going?

i am still using trendline breaks but as i have moved to the higher time frames i think i use the pozzyp style trading again marking out the range and either buying the straight breakout like eur/usd today or wait for the pullback on the lower time frame

both work depends how safe you are

as for fibs they tend to work really well for me i only look at 50% and above levels for entries on a pullback, again you cant takes these just by themselves and you have to look at the areas say that 50% falls at prior support zones and you have see some kind of confluence

bar patterns at this area help you to get in to the market like pin bars which i use alot

let me know if i am explaining myself clearly
 
Hey Pocrel,

I'm good thanks. Still not trading yet just saving some capital and learning until I am ready to have another pop at it. Thanks for your explanation. So basically you only use fibs when it has confluence with a S&R level and show some favourable price action like a pin bar. Do you use any other patterns? I keep checking back at your blog - eagerly awaiting your first video! Keep it up,

Sam.
 
hi jason

my charts are setup at +1 uk time, so my daily candle closes at 11pm uk time
does nt matter on the hourly chart

That would explain it.

It has popped into my mind on occasions to do the same thing, so I can get to bed a little earlyer! Am I right in my assumption this is why you are set at +1 uk time?

Thanks for the journal

Jason
 
This is a counter trend setup so half size risk

stop is 100 points (hard t judge as there is nothing to go on just using 2*ATR)

target is .9960 (38% retracement)

little bit of prior support here aswell
 
stop at breakeven on usd/chf .9841


on my swing trads i have this Expert Advisor for metatrader that moves my stop automatically and can take half off if i want very handy to have if your sleeping

if the trade does nt go now then i happy to be out
 
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