All it is is where price has stopped accelerating and you can actually see that on the bare chart if you stop concentrating on the trees. (so to speak )
Bundy's status today: "Waiting..."
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedI don't know about Jim, but you CAN actually see divergence in the pure chart...Ignored
DislikedI bought at G/U last night and it hit my stop loss. I bought it on previous two candles break out and thought trend is continuing upward. But it hit my stop loss.
I am trying to find why it was bad trade. Why should I avoid it any reason. Was my stop loss was not enough to hold this position?
I get loss on my real account but I want to learn from my mistake. So please give any comments to help me to investigate that trade:
I bought at 1.4118 (time was 16 March 23:16) with stop loss 1.4025 and TP at 1.4200.
Jamie,
I will appreciate if you can...Ignored
DislikedI bought at G/U last night and it hit my stop loss. I bought it on previous two candles break out and thought trend is continuing upward. But it hit my stop loss.
I am trying to find why it was bad trade. Why should I avoid it any reason. Was my stop loss was not enough to hold this position?
I get loss on my real account but I want to learn from my mistake. So please give any comments to help me to investigate that trade:
I bought at 1.4118 (time was 16 March 23:16) with stop loss 1.4025 and TP at 1.4200.
Jamie,
I will appreciate if you can...Ignored
DislikedHey Jamie
The question I would be asking myself is why would two small 1hr bar highs be enough to continue a trend or movement upwards. My answer would be it would be a very tough trade to take especially on such a small timeframe. Now if you had two matching weekly bar highs, now you can bet that those matching highs or resistance when broken would hold more significance. This is part of the reason James stresses the need to start out on the daily/weekly. Bars hold more power, and then when in the right location hold even more power.
My advice...Ignored
DislikedI bought at G/U last night and it hit my stop loss. I bought it on previous two candles break out and thought trend is continuing upward. But it hit my stop loss.
I am trying to find why it was bad trade.
Thanks in advance for everybody.Ignored
DislikedI bought at G/U last night and it hit my stop loss. I bought it on previous two candles break out and thought trend is continuing upward. But it hit my stop loss.
.....Ignored
DislikedI bought at G/U last night and it hit my stop loss. I bought it on previous two candles break out and thought trend is continuing upward. But it hit my stop loss.
I am trying to find why it was bad trade.....Ignored
DislikedI'm no expert, but you bought it when I was looking to sell. That doesn't mean anything but...
1. you bought it on retrace to area of confluence (day-week ppz, rac's favorite retrace - 50fib of 8hr pin)
2..forgot what I was gonna say here
3. I remember... Since you're trading on 1hr TF, I assume you're profitable on weekly and daily TF? If not, you'll find your account grow much faster if you move up a notch.. Trust me.
Anyways, just in case you're curious about my trading plan at a time you went long. If not, just ignore this part...Ignored
DislikedDoes anyone have much confluence on GU or GJ pairs with current H1 pin ?
This is what i have on GU, but after some tough fundie news i just dont know ..Ignored
DislikedStill low but we have some serious inside stuff happening on H1 ... can we take a break above even with fundamentals worse than expected ?
Dow futures not much change ...Ignored
DislikedAnyway, the most important point I want to make here from my experience is playing these sort of break trades is trickier than a lot of the set ups we do here....Ignored
DislikedMike, talking about daily/weekly TF, how many pips on average would you look at? I noticed the difficulty of trading smaller TFs; when I move on to daily, found very hard to sustain managing a trade more than one day, most times, I had about 150pips, but, I refuse to take profit as I determined to do a position trade ( my understanding on daily TF is something like position trading, correct me if I am wrong, please), that is a duration from one day to a couple of week, therefore, 150pips means nothing to me when I consider using daily. but, most...Ignored
DislikedRac,
i took that GU trade short last night at 1.3995 prior to that minor retrace. I put a SL just behind what i thought was the ppz at 1.4066. Got stopped out by a few pips then found out this morning that it decided to go where I thought it would.
1. Was my SL too tight? I normally go with a 100 SL or max on the PB.
or
2. Was I dreaming in thinking that a ppz existed at 1.4050.
or
3. Just the way it went.
Did you know it would retrace and should I have waited for after the retrace?
ThanksIgnored
DislikedHello flyer,
No, I didn't know it was going to retrace, but I'm glad it did since I missed my speculative entry the day before and I didn't want to chase it.
As you probably noticed, my stop was set at 1.4125, just above 2 -4hr bars high and weekly ppz (purlple line on my chart). Should I have your entry, I would still place my stop at 1.4125, but would probably cut my order size in half. When you look at 1hr, price started to form kind of 'arch' last night. That usually adds to my confidence...
I always hide my stops behind good (imo) ppz
damn......Ignored