Raczekfx, if you don't mind me asking, what was your reasoning behind this trade? I personally entered because of the heavy divergance on the 4 hour and the break of the ppz.
By the way, thanks for the video.
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHi guys what do you think about this Eur/Aud Daily
It looks like a DBLHC to me..
Not quite sure about the PPZ level though...Ignored
Disliked
Raczekfx, if you don't mind me asking, what was your reasoning behind this trade? .Ignored
DislikedHi guys what do you think about this Eur/Aud Daily
It looks like a DBLHC to me..
Not quite sure about the PPZ level though...Ignored
DislikedWELL IM BACK after a great little trip to the mountains of northern new mexico and southern colorado. got some catching up to do i see. next year should find this thread taking its next step. me and fijitrader are working on that this month. i sure wish fij would get back involved at forex factory but i guess when your retired in paradise you can do what you want.
lol,
jimIgnored
DislikedI had a question here... Does it really matter what time your daily bar starts? Is some start time preferable over other?
I have been using IBFX which has day starting at 5:00 pm EST.
Today i saw ITradeFx and noticed that it's day starts at 12:00 am EST. Also, it had a pin bar for yesterday(but no pin bar on ibfx for last 2 days) on daily chart.
Also, had i taken that trade, it would have been in nice profit....Ignored
DislikedHey FFbk,
This is one of those things that most of us have just decided it is best to use whatever you are comfortable with. Since forex is not centralized this is always going to be an issue. My preference is to have a daily close close to the NY closing time. But many others use very different times. In the end most of us settle on "play it how you see it".
Take care
MikeIgnored
DislikedI had a question here... Does it really matter what time your daily bar starts? Is some start time preferable over other?
I have been using IBFX which has day starting at 5:00 pm EST.
Today i saw ITradeFx and noticed that it's day starts at 12:00 am EST. Also, it had a pin bar for yesterday(but no pin bar on ibfx for last 2 days) on daily chart.
Also, had i taken that trade, it would have been in nice profit....Ignored
DislikedI hope this isn't too off topic, but can someone recommend a pc for trading? I currently have a Mac but it's a pain in the buttocks. Thanks.Ignored
DislikedI have an AMD X2 5600 (2.5-3 years old) running XP and has more than enough power to run trading software. So anything you buy new today will be faster. The area you may want to look at is make sure you have 2 GIGs of memory and a dual head video card (2 monitors makes life SO much easier and you have no idea what you are missing if you aren't running 2 monitors) a new PC will most likely be dual head already.
If you want to discuss in more detail, PM me. I have skype and IM if you prefer to communicate that way.Ignored
Disliked
just a question on divergence - does the attached chart count as divergence? reason i am unsure is that price has gone from an uptrend to sideways - the two lows i am measuring are near enough equal but MACD is not.
thanks
SimonIgnored
DislikedHighs on price chart need to be matched with highs on your MACD. Same goes for lows, so your line is drawn wrongly on the MACD.
Please read http://www.babypips.com/school/divergence_trading.html.
Connecting the lows, there seems to be a slight hidden bullish divergence in your MT4 MACD which isn't showing on my Oanda's fwiw.Ignored
Dislikedthanks swap
don't know what i was thinking - what i meant to draw was as attached - which still seems to show divergence. but i am still not sure that counts as divergenceIgnored
DislikedWow, check out the pb on dollar yen. Bugger worked out after all. Seems like the evil bank of japan has said "screw it, use this yen strength to get more efficient".Ignored
DislikedWow, check out the pb on dollar yen. Bugger worked out after all. Seems like the evil bank of japan has said "screw it, use this yen strength to get more efficient".Ignored