DislikedThanks for that. I'm currently hoping that it develops into a Pin.Ignored
Will definately be looking for PA a bit higher up if it gets there and will post my next move.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedThanks for that. I'm currently hoping that it develops into a Pin.Ignored
DislikedProRealTime. I use GMT on my charts so US 4hr won't match up.
I tend to stick to 1h charts then I know all buyers and sellers can see what I can see.
EDITED TO ADD CHART.Ignored
DislikedToday, my sell order on EUR/CHF PB was triggered around 4:00 am, I have my stop loss a few pips above the PBīs nose. Since that, "a shower" of good news came for EUR and the trade came against me. I am these kind of people who thinks that lossers MUST be cutted ASAP, and Price Action MUST rock from the beggining of the trade. So I want to ask a couple of things to the experienced members of this GREAT thread:
1.- What do you think about PB formation, congestion, S/R Area?
2.- How would you mannage this trade?
Thanks in advance for your support....Ignored
DislikedI am long at the moment from the IB on the Daily TF. It has not got to my first TP but it looks like a Pin could be forming on the 4H (Close at 16h00 GMT). If it closes as a Pin I am going to move stop to BE but I am not going to short yet even if it closes as a Pin as I don't see much else to support the Pin at this level. The Daily chart is still looking Bullish to me.
Will definately be looking for PA a bit higher up if it gets there and will post my next move.Ignored
DislikedDo you think there may be a bit of historic congestion around this area?Ignored
DislikedNice HP,
I was watching that too but previous highs on the weekly kept me out...Ignored
DislikedYes there certainly is which is probably why the price is stalling at the moment. I thought it may have got a little higher which is why I have my first TP at 11750 but this may have been too optimistic.
Will have to see how the Daily closes. I entered on the Daily so am trying my best to manage this on the Daily.Ignored
DislikedWas just scanning through my charts for the week and came across this great situation.
Why i feel it needs to be shared is that many ppl new to the thread here need to understand why looking at the bar shape although very important is'nt the factor that should dominate a trading descision,
Here is why LOCATION IS FAR FAR FAR MORE IMPORTANT,
Regards,
Ghous.Ignored
DislikedThere certainly were quite a few barriers for price going north,
I names a few in a chart i posted some pages back,
I am personally biased on the short side here, and the only way i was going to play that daily IB was a break of the low which did'nt happen, and due to the reasons i mentioned in that post of mine long was out of the question for me
Regards,
Ghous.Ignored
DislikedWas just scanning through my charts for the week and came across this great situation.
Why i feel it needs to be shared is that many ppl new to the thread here need to understand why looking at the bar shape although very important is'nt the factor that should dominate a trading descision,
Here is why LOCATION IS FAR FAR FAR MORE IMPORTANT,
Regards,
Ghous.Ignored
DislikedHi Ghous.
I was stopped out at BE. Looks like a Pin forming on the Daily so with you on the short side now.Ignored
DislikedThanks for that. I'm currently hoping that it develops into a Pin.Ignored
DislikedPin on the hourly now. Confluence with Fib and nice round number.
Will rather wait for PA on higher TF but one to watch.Ignored