Dislikedp.s. some of us actually went long when DB formed on 4hr with small stopIgnored
after the bar that made the second touch? or where?
thanks in advance.
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikedp.s. some of us actually went long when DB formed on 4hr with small stopIgnored
DislikedLOL mark, you mean you are crying all the way to the bank on trades like this.Ignored
Dislikedafter the bar that made the second touch? or where?
thanks in advance.Ignored
DislikedRac, what is difficult to me is understand the price action used in that trade. Price never came back to 9817 (to put a buy limit on the second touch) . I can't see any price action on 15m, 1h, 4h. Maybe it was the close of the 4h bar but it was a DBHLC.
sorry if this is a stupid question, but i can't see the price action.
thanks in advance.Ignored
Dislikedbecause there is no pa.
I use aggressive trading technique from time to time (to complement PA to come) once I made up my mind re: trade direction. I called it R-1hr db in the PF. It is however beyond the scope of this thread and not suitable for everyone, therefore you'd have to excuse me for not going into details here.Ignored
DislikedGood morning. I am studying price action and I am just a beginner. I would like to start by thanking you all for the excellent posts and analyses I have read.
pipsja's and giraia's posts have raised a question. Could somebody take a stab at explaining how price action on the H4 chart can be traded off bars/candles like these with different data feed times?
I would surmise that similar candle formations could occur on the daily or weekly. Is price action trading much more difficult than it looks?Ignored
QuoteDislikedQuote:
Originally Posted by smikester http://forexfactory.com/images/buttons/viewpost.gif
Good morning. I am studying price action and I am just a beginner. I would like to start by thanking you all for the excellent posts and analyses I have read.
pipsja's and giraia's posts have raised a question. Could somebody take a stab at explaining how price action on the H4 chart can be traded off bars/candles like these with different data feed times?
I would surmise that similar candle formations could occur on the daily or weekly. Is price action trading much more difficult than it looks?
That's an awesome example Smikester.
Anyway, it's only a problem if you get upset about missing every decent move in the market. ....Really, if you think about it.
There are so many opportunities that you do catch to worry about it. Enough to make you consistent money anyway.
If you want to watch two different feeds though , do it. I wouldn't recommend the stress. Depends how busy you want to keep yourself.
DislikedNice..
this chart is from May 29th (PF)
double top, 150, divergence, confluence....simply saying - trader's dream.....
.Ignored
Dislikedbecause there is no pa.
I use aggressive trading technique from time to time (to complement PA to come) once I made up my mind re: trade direction. I called it R-1hr db in the PF. It is however beyond the scope of this thread and not suitable for everyone, therefore you'd have to excuse me for not going into details here.Ignored
DislikedTo me this is a good example of some failed trades. That SECOND PB looked like an A trade, and even came up, broke the high by 2 pips, before falling down hard. A conservative play where one places a limit buy above the PB high and a stop below the low would have just literally bought a high and sold a low. At least with the FIRST PB the nose was not broken, but still...
Any insight as to legitimate reasons to stay out of either of those would be great, or are these just "one of those trades"...Ignored
DislikedHey
If you look at the next bar after the pinbar, neither broke the pinbar low(in first case) and high in second case. A good deal of us(if not most) cancel our orders if the next bar does not trigger (the low or high). A pinbar is not valid unless it does break the low/high.
I personally do at least
Take care
MikeIgnored
DislikedJust wanted to throw this up here as well after already posting it to my "fundamentals denial" 1kT thread
Retrace between .382 - .50 fib, former lows, round 1.56 number, pin bar, drop.
Sometimes it's good to forget news exist
But they can accelerate things quite a bit!
Edit: LOL Jim just made the exact same chart
(just with s/r preferred through 1.56 - and I left out the fib in this one)
*supergrin* Talk about timing!Ignored