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Thanks for this! I've been looking for this for a long time now lol! It's nice to not have to log onto thinkorswim to get my lines, then go back and draw them manually on MT4!
Many choose unhappiness over uncertainty.
Where can I learn more about Price Action like those in James16 charts? 9 replies
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QuoteDislikedI placed my stop on 0.75100 as Mike suggested, but this whole trade worries me a bit... one of those moments...
DislikedI placed my stop on 0.75100 as Mike suggested, but this whole trade worries me a bit... one of those moments...Ignored
DislikedHey guys i just wanna know what do you think.Are these lines s/r drawn correctly?Thank you.Ignored
DislikedTrying to get acquainted with J16 here looking at shorting N/U. Bar close is in 20 minutes. Here are my thoughts. Please let me know why you would/wouldn't trade this pin.
Pros: Good location, TL break/retest, off 62 fib
Cons: Small protrusion, traffic awaits (notice 2 gray bars below)
Waiting for: Close below left eye, then break of low on the next bar
I would manage this trade *very* tightly once it arrives at traffic. Your take?
Thanks.
-- dannyIgnored
DislikedHi,
Scott here...yes another lurker...thought I would make my virgin post here. I would like some thoughts on the pin which has formed at the .9000 level on the EUR/GBP....not A grade IMO...but target of 88.40 looks achievable?
Quick thanks also to the senior guys who make the site invaluable.
Scott.Ignored
DislikedHey Scott, welcome too....good to see the fresh faces, buckle your seatbelts
Yes this is a pin, and yes it is off the 9000 level. So I am liking the location. The problems come with the swing point. We want this to be at a swing high where this is at the swing low of the move. What that means essentially is you are trading directly into traffic as soon as it breaks. As soon as this one breaks these ones can reverse nearly immediatly and that is why James and the rest of us stress to trade these at swing highs(and when at swing lows bullish...Ignored
DislikedLooks great Teo, just remember that these aren't always lines and they are "zones" . This is why you see a lot of our charts with those blue boxes, to denote the fact that it isn't to the pip, but to the area.
Best
MikeIgnored
DislikedHey Danny
Be careful here this isn't a pin. We would want to flip that bar and have the nose sticking upwards protruding away. In J16 terms this is more of an indecision bar. Let me know if you get what I mean.
Best
MikeIgnored
DislikedFrom your PM you made it sound like you were brand new to this. Looks like you got a pretty good handle so far !Ignored