Fans of DBHLC, does this chart qualify?
A potentially lucrative retrace to the current trend maybe???
A potentially lucrative retrace to the current trend maybe???
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedFans of DBHLC, does this chart qualify?
A potentially lucrative retrace to the current trend maybe???Ignored
DislikedI think you meant to say DBLHC, and I would say by the looks the Lows are too far off(especially if that is 20pts) for it to be an ideal one. I am not familiar with this market though, so I can't give anymore of an opinion. I have no idea whats going on except for your chart
Best,
MikeIgnored
DislikedI believe he is talking about the previous DBHLC on 1/11 and is thinking of getting into it on this retracement. As far as getting in now, personally i would like to see a better pullback to a stronger s/r level.
Looking back at a crude oil 4hr chart some nice opportunities were spotted.
They are both pin bars at a confluence of 38.2 retracement level and pullbacks to support/resistance lines of 61.57 and 57.86Ignored
Dislikedwhat broker or how do i pull up those charts through my mt4, it would be much easier to help
Thanks,
MikeIgnored
DislikedSome metatrader brokers offer commodities/futures as well the mini dow and s&p in addition to forex. Oriontrader and North finance are some of them.
http://www.orionbrokers.com/tradingproducts.php
http://www.northfinance.com/eng/open-demo-account/
I had bookmarked a thread of metatrader capable brokers but now the link doesnt seem to be working. Could be because of the new website.Ignored
Dislikedalso johoma not to mention you could wait for a break and then a retest of the Res line becoming support. This is the safest way, but you could miss the move. You could also play a short here and have a pretty small stop. I don't think anyone is more correct. It's a matter of a traders personality.
MikeIgnored
Dislikedplease understand I am happy for anyone who trades on the smaller time frames and makes money( I am happy for anyone who is making money!). I am more speaking for anyone who is new to this thread. If you master the higher time frames, and then want to trade the smaller time frames you will have a much better chance. But for your 13 pip trade on a 5 min chart I will book 200+ pts on one trade and only have to check my computer a few times. The people who read a few posts from James and see a bar on the 5 min and 15 min and try to trade it and catch some bigger move are gonna be seeing their account go down down down. Instead try starting on the daily/weekly. Finding the premium A trades, and watch your account grow grow grow
MikeIgnored
DislikedThought I would kick off the week going back to this post. We had a break of the resistance and now a retest as support. We have 30 mins left but this is worth keeping an eye out for. Things work best when you have a plan in your head and the pieces come together.Ignored
DislikedThought I would kick off the week going back to this post. We had a break of the resistance and now a retest as support. We have 30 mins left but this is worth keeping an eye out for. Things work best when you have a plan in your head and the pieces come together.Ignored
DislikedHiya Mike, nice chart, the pullback to the prior high once again was the best spot to go! As usual I'm a bit bored here so I thought I'd pull up the 1H perspective of the stuff and see where we are now
Did you get in? And where?Ignored