Indicators show the past. Price Action "Indicates" the future.
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
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Quoting Najib the NewbieDislikedBTW, as for my point of view about this method, to backtest it, using the daily bar is not a good idea.
Why? Because if the yesterday's high is broken, there are still posibilities that the price goes back down for sometime before contineu rising back up and therefore SL could have been hit. We cannot see that on daily bar. The best is that backtest it on 1hr time frame.
Just my 2 mini lot point of view.Ignored
Quoting jarrooDislikedOrangeRoshan's SRDC method
Orange, this method along with James16 price action looks great.
I've been using James' price action with the previous day's and week's high and low (also the overall trend,fibs, pivots and 365 ema)to add support and resistance confluence.
The key is confluence (other indications not indicators)with price action.
I'll show examples.
JimIgnored
Quoting AbgZuhainiDislikedI just made +30 using u system, Thanks and SHRIgnored
Quoting OrangeRoshanDislikedNot recommended when still a newbie tho.
ThanksIgnored
Quoting NarcDislikedcan we trade during news time which move the market for more than 50 pips? or no trade during news announcement?
hopefully my account gained weight as you said, just like i'm gaining weight pasal open house inda beranti LOL
Ignored
Quoting roger363DislikedOrange:
Thanks for sharing your system, I got my first 5 pips today with eur/usd and waiting for the other 5 from gbp/usd. I have a question, you place your orders right at high / low of last day?, and how far do you place a trailing stop?.
thanks.
rogerIgnored
Quoting wallymDislikedOrange,
Does the broker/platform's timezone matters in determing the "real" daily candle?
Thanks!Ignored
Quoting AbgZuhainiDislikedJust made +50 pips using the system on GBPUSD, . I like it because it simple. I combine this system with fibo S&R for Profit taking.Ignored