Bouncing Balls Pivot Theorem and Retrace Play
- Thread starter Tavnaz
- Start date
Another one which I could make out.
NZD/USD: Just see how it reacts to 7250,7300,7350 and 7400 .Its just too good. Its rangebound still there is plenty on the table for the offer.
I am in the current trade after the latest "pin" signal and up 31 pips.
Tavnaz bhai,
When are you going to enlighten us with other 60 odd patterns that you have mentioned on the first page?.....
:clapping:
NZD/USD: Just see how it reacts to 7250,7300,7350 and 7400 .Its just too good. Its rangebound still there is plenty on the table for the offer.
I am in the current trade after the latest "pin" signal and up 31 pips.
Tavnaz bhai,
When are you going to enlighten us with other 60 odd patterns that you have mentioned on the first page?.....
:clapping:
If you pay attention you already learn't some 12 Candlesticks from my charts.
Raghav man,don't take touch trades,the pin bars are working,but you need to draw those Roundies on your charts.
The Kicker pattern is more common on stocks not forex,but if you see it on forex, i'm sure there is another definition for it.
And congratulations on your great 31 pips.
See you later with some more stuff from my side.
Taz
Hey there Raghav,
Let me show you something,i was looking, at buddy.
It was a perfect pin bar.But damn it was not having enough room to go, but a good trade.
Look at the 38.2 fib right below it,it was capping it and protecting the fall
Look at that:
Let me show you something,i was looking, at buddy.
It was a perfect pin bar.But damn it was not having enough room to go, but a good trade.
Look at the 38.2 fib right below it,it was capping it and protecting the fall
Look at that:
Keep it coming.....:clapping:
Regards
Raghav
Hey Taz,
By touch trade do you mean taking a trade when signal bar bumps in to pivot zone?
Further, It would be great if you could post a single chart depicting how you make an entry and then trailing if any along with exit as I seem to be making a late entry .Do you go for catching a retracement entry once the signal is generated? I feel I need some fine tune in My entries and exits.Pls elaborate.
By touch trade do you mean taking a trade when signal bar bumps in to pivot zone?
Further, It would be great if you could post a single chart depicting how you make an entry and then trailing if any along with exit as I seem to be making a late entry .Do you go for catching a retracement entry once the signal is generated? I feel I need some fine tune in My entries and exits.Pls elaborate.
Well touch trade is no PA bar but we take entry based on orderflow.
In that case we have to be sharp witted to say whether orders are lying there or not.
But in your case by touch trade i mean,u must mark round numbers on your chart.
Because Pinbar,bullish outside bar or anything will only work if they are at good locations.
In chart it will be difficult,but let me see what i can do.
Let me tell you i am but a learner,i just found out a pair of golden tools,which changed everything for me,so i'm working things out to give me best results.
I started with losses.
Then to breakeven.
Then to wins,but still it is hard road.
I would like to tell u entering on break confirms the belief,while entering on retrace,makes trouble sometime.
Consider a pin bar which was never going to break and was going down,buying at retrace would be suicide.
Your all trades were great i havn't seen anyone go this fast to winning streak,
only reason, you won because u were entering late,after bar was confirmed.
Your entries will be great,once you finetune your stop loss,because that is the trouble.
Let me tell u something i took a trade to test,place a stop loss 5 pips,that was pin break.
so when price broke there was no back wiggle so less stop loss huge rewards.
I took another trade,played on retrace,same 6 pips stop loss,and great reward,but chances are that setup may fail,because retrace is like your enemy,you don't want your enemy so strong.
Hope the above helps.
I will fix a chart soon,maybe i think a video of live trade,as it goes but i'm figuring that out.
Regards
Taz
In that case we have to be sharp witted to say whether orders are lying there or not.
But in your case by touch trade i mean,u must mark round numbers on your chart.
Because Pinbar,bullish outside bar or anything will only work if they are at good locations.
In chart it will be difficult,but let me see what i can do.
Let me tell you i am but a learner,i just found out a pair of golden tools,which changed everything for me,so i'm working things out to give me best results.
I started with losses.
Then to breakeven.
Then to wins,but still it is hard road.
I would like to tell u entering on break confirms the belief,while entering on retrace,makes trouble sometime.
Consider a pin bar which was never going to break and was going down,buying at retrace would be suicide.
Your all trades were great i havn't seen anyone go this fast to winning streak,
only reason, you won because u were entering late,after bar was confirmed.
Your entries will be great,once you finetune your stop loss,because that is the trouble.
Let me tell u something i took a trade to test,place a stop loss 5 pips,that was pin break.
so when price broke there was no back wiggle so less stop loss huge rewards.
I took another trade,played on retrace,same 6 pips stop loss,and great reward,but chances are that setup may fail,because retrace is like your enemy,you don't want your enemy so strong.
Hope the above helps.
I will fix a chart soon,maybe i think a video of live trade,as it goes but i'm figuring that out.
Regards
Taz
Hey Taz,
I coundt grasp few of your sentences .sorry for that.I will just ask the same in my next post.
A live example. EUR/AUD. Bull run yesterday after cash rate announcement. Retracement of 61% and a hammer or pin.
The issue starts now when it comes to risk management. When that pin is forming I do not know whether it will close as pin. Next it becomes pin only when next bar exceeds its close or when it forms the second eye.
Trouble
1. If I take an entry on top of the Pin bar My S/L has to be at the tail of the pin bar which is almost 34 pips.Risking 34 pips is what I would like to avoid .Anything around 20 is OK to me.
2.If I try to enter on retracement ( marked as Bar number 1&2 in the chart) I will be in a dilemna since I dont know whether it is a retracement or continuation of the original move though I can make an entry near end part of tail of the pin thereby risking minimal.But as you told that would be a contrarian attitude which may or may not work.
I coundt grasp few of your sentences .sorry for that.I will just ask the same in my next post.
A live example. EUR/AUD. Bull run yesterday after cash rate announcement. Retracement of 61% and a hammer or pin.
The issue starts now when it comes to risk management. When that pin is forming I do not know whether it will close as pin. Next it becomes pin only when next bar exceeds its close or when it forms the second eye.
Trouble
1. If I take an entry on top of the Pin bar My S/L has to be at the tail of the pin bar which is almost 34 pips.Risking 34 pips is what I would like to avoid .Anything around 20 is OK to me.
2.If I try to enter on retracement ( marked as Bar number 1&2 in the chart) I will be in a dilemna since I dont know whether it is a retracement or continuation of the original move though I can make an entry near end part of tail of the pin thereby risking minimal.But as you told that would be a contrarian attitude which may or may not work.