Bouncing Balls Pivot Theorem and Retrace Play

[carmin]

Re: vicky_ag

Hello Tavnaz
I am really sorry to say but guys like vicky_ag give me the creeps,but I have no intention to ruin your thread. Please continue your good works in this thread.

@Vicky_ag
I will not reply to what you just replied because this was what all that could be expected from you. But lets not ruin this thread and let others learn from this thread.

Regards
Carmin

 

[carmin]

Hello Tavnaz
I would like to know your take on EUR/CAD as a daily pinbar is in formation and its just in the right pivot zone to fetch 50 pips or even more if sold at retrace.

Regards
Carmin

 

[Tavnaz]

Re:Carmins Reply and trading methodology.

Hello Carmin,
I expect this rudeness to end here,and hope you also believe in the same dude.
I would love if you post some of your price action trades.

And Mr Vicky i've heard you are quite a long shot, as i know you use Silent Service,if you understand me.
And you mentioned something about your Eur/Usd 1.2700-1.2900 long,i will love to see the formation and entry point you traded and possible trailed stops.
I would love to see,your charts as learning guides to me,and all newbies learning Price action.
For all those beginners let me tell you, i may be new here but have demo traded 2 Years,Live traded 6 months (Profitably).
I know the best trade is not the one with 40-50 pips, but with, maxed out potential 1200 Pips or 600 Pips or so.


I believe a break even is a win.
If you hold back to the things on this thread, you might as well be doing the 600-800 Pip run in future.
I personally took one 400 Pip run once,trust me, it's a life changer, consider this, a 4000 $ amount in just a few days.
See you later Guys
Tavnaz

 

[Tavnaz]

Eur/Cad Pinbar

Hey There Carmin,
Here is my take on Eur/Cad,if you really believe this pin bar is going to work,then Place your order 1.33650 and then play the move till 1.3325.
Because 89 EMA Lurks at 1.33250,around 40 pips.
But don't place a bigger stop loss then 15 pips, because if it retraces more, it's not going to work,then that pinbar is a sure fail.

IMO the price is going to test 1.3400 or 1.3375 then the price will fall after a formation of a Bearish Outside Bar on the 4 hour chart.
I won't take this Pinbar because it has no room to go
But i will take this move down to 1.3200 on the Bearish Outside bar,which i expect on the 4 hour Chart at 9:30 Indian time,that bar will close most probably below 1.3300 then i will ride it to 1.3200 safely.
See My chart,My levels will tell you the story.

Regards
Taz

 

[vicky_ag]

Taz and carmin, As promised removed all my posts. So, there you go no hostility.

@Taz,
I am posting this per your request. If you don't like it, tell me and I will remove it.

The method I am using is pure fundamental trading. No indicators, no heavy techy stuff. To cut a long story short USD is hopelessly a fundamental sell and though Euro is not better we live in a world where comparison rule to roost. So, to tell you I think (well my bank's + JP Morgan's economist does) think EU is going to 1.34 by the end of year. So, buying on dips. My first dip buy was at 1.26 (24th Aug) . Then came the same old story of sovereign debt around 30th so being uncomfortable that I was, I closed the trade on 31st. Then the pair rallied which made me feel like an idiot. So waited again for a dip to buy, came around 1.27 so bought. Friday's trade balance + Chinese data was supposed to cause a small upheaval and it did. Ended up 200 pips richer. I was not confident of 1.3, so closed the trade at 1.29.

I used to trade PA too not now, changed my style to more comfortable position. Just to add Soros once said "I don't play the game by a certain set of rules; I look for changes in the rules of the game."

 

[Tavnaz]

Hello Guys,
As expected the pinbar of Eur/Cad has very less momentum,it is a consolidation on a 4 hour chart,it s going to test 1.3375 i guess.
If a daily pinbar does not retrace in it's first 4 hour bar then i don't believe it will work.this i'm telling you based on experience.
I will take a breakout trade at best.
I would want all of you if you want to enter a breakout trade on this pair on 4 hour chart not otherwise.

Chart:

And thank you Vicky Ji will watch out carefully for your further useful information.
Be Safe.
Tavnaz

 

[Tavnaz]

Playing Pinbars.

Playing a Pinbar:

Conservative Approach: (Bigger Stop loss, Comparative less reward)
1. Verify Pinbar.
2. Confirm Pivot Zones,it must be in the zone.
3. Place your stop loss on the Pin bar tip.
4. Pending Order Below Pinbar preferably below a round number,so you can play the break of it.
5. Place your Take profit order above the nearest PPZ.
6. Wind up your self with a Profit.

Aggressive Approach: (Lesser Stop Loss,Big reward)

1. Verify Pinbar.
2. Confirm Pivot Zones,it must be in the zone.
3. Place your stop loss on the Pin bar tip.
4. Pending Order along Pinbar,because the price retraces to half the pinbar mostly,but it is around previous bars high/low,most of the time.
5. Place your Take profit order above the nearest PPZ.
6. Wind up your self with a Profit.

Regards
Taz

 

[Tavnaz]

Eur/Gbp Possible trade developing.

Hello guys,
The Euro/Gbp Technical analysis explained here.
Now towards the top the 0.8400 level is a rock solid line the price is trying to break that level.
Now the possible scenario is the formation of pinbar tommorow and the the fall below, towards .8300,and finally 0.8200.
Or we can see consolidation and then a break out trade above 0.8400 or down below towards 0.8200.
I'm short this pair for now,if i see a strong bullish sign,and close above 0.8400, i might shift my sentiment.
It is a possible run of 100-200 pips down there or a strong 150 pip move up there.
Chart:

Any opinions will be highly appreciated.

 

[Raghavacc]

Hi Tanvaz,

Broke upside bigtime. Went long at 8432. I curse myself for being late in every trade :annoyed:

Its always a pleasure to watch the charts that you put here..:thumb:

Regards
Raghav

 

[Tavnaz]

Eur/Gbp Breakout trade.

Hey there guys,
Looks like the Eur/Gbp broke through the trendline,now the same line is a support on the way down.
The first bar to break above the 0.8400 was a bullish outside bar,so the second bar was already expected rise.
This trade setup today was one of many bullish bars,and break out trades.
I hope to see the trendline test after first target of 0.8500 gets reached.
Then I'm expecting a bounce back to 0.8500 and finally 0.8600,which is confluent with 38.2 Fibonnacci Retracement of a weekly swing high/low.
I'm obviously long,and was the moment the price bursted through 0.8410 and gave easy 50 pips move up there.
Price is surely headed for 0.8600 so my advice buy as soon as price gets down to 0.8450 or 0.8400 or trendline and forms a pinbar or Bullish Engulf/Outside bar.
See you later guys and be safe,
Taz

Chart:

Long term picture: