Post 2054 calls the cable a daily pin. Some one brought up that that is not a pin because today has not finished out. Technically correct?

james16 Chart Thread

This week were running below average. Be nice to see today break out <TABLE style="WIDTH: 255pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width=338 border=0 x:str><COLGROUP><COL style="WIDTH: 55pt; mso-width-source: userset; ...

Daily Cable Analysis

Thats correct If today closes above yesterdays close not an official pin bar from yesterday.

Daily Cable Analysis

the daily pin has closed because it was from yesterday and today it is being played out.

Daily Cable Analysis

Mike I have been watching the weekly pin on the eurchf so far it has not developed. Beings that it has been a couple of days, does it make it irrelevant. When on a weekly pin does it lose it's say credability?

james16 Chart Thread

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GBP Patterns, Facts, Trivia

So far this is how it has played out

Daily Cable Analysis

Daily pin on the cable

Daily Cable Analysis

going back a couple of posts I would say that is not a daily pin.

james16 Chart Thread

Is this a daily pin with closing midway on the bar?

james16 Chart Thread

my opening was 9389 6 pm eastern.

GBP Patterns, Facts, Trivia

Yes see post 36 in regards to a 5 pip spread As far as mechanical not sure on that. It could be used more for confirmation of a trend you are in see post 37. Really need to look at the stop loss. For instance post 37 has a 36 pip retracement then an ...

GBP Patterns, Facts, Trivia

Right now at this post the pound is stalling but it has move 47 pips from the opening and the probability of it reversing is 13%. It may of course but it is at a current resistence point and when the pace picks up in the hour or so you know that ...

GBP Patterns, Facts, Trivia

See how knowing the reversal probabilities and practicing them with other sound trading techniques can help you get the most out of a trend Just know that when it moves 70 pips beyond the days opening the likeliness of it reversing is less then 1%. ...

GBP Patterns, Facts, Trivia

This is what I was talking about with a bare minimum profit with waiting for 50 pip move and getting atleast a 10 pip profit.

GBP Patterns, Facts, Trivia

More then likely not waited until 70 pips if that was your system. Next day or two have graphs with 60 pip reversal (already had one ) and 50 pip reversal.

GBP Patterns, Facts, Trivia

Very little movement this day.

GBP Patterns, Facts, Trivia

Another 70 pip reversal

GBP Patterns, Facts, Trivia

For your review

GBP Patterns, Facts, Trivia

Looked at some interesting trend reversal probabilities with the GbpUsd. In my opinion trades should not just be based on reversal probability but this can help give you a comfort of being with the trend. One should still use price action, fibs, ...

GBP Patterns, Facts, Trivia