"A great setup is a great momentum setup"
I see no fun in having a pending order hit on a daily pin after so long into the day...all pending orders pulled off.
I believe . . .
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedI did do a formal test of retracement entries. Large sample size, I only picked the very best pins, and it performed worse than waiting for the breach. It's worth remembering that James16 says it isn't actually a pinbar until it's breached.
A more interesting agressive strategy is having a reduced stop after the breach, say at second eye level. I'm doing testing at the moment with that. It's not that different to what someone like Jarroo does, which is rarely alow himself to take a full loss. Rather he gets out early if price is going against...Ignored
Disliked...
A more interesting agressive strategy is having a reduced stop after the breach, say at second eye level. I'm doing testing at the moment with that. It's not that different to what someone like Jarroo does, which is rarely alow himself to take a full loss. Rather he gets out early if price is going against him, sort of a mental reduced stop.
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DislikedI have tested something similar. I noticed that when a good pinbar is penetrated, the price usualy does not make it back to the high of the penetation move. But I looked only at daily and weekly TF. The only problem is you have to enter manualy (stay at pc for the day) and choose only the best ones.
Picture explains everything...Ignored
DislikedI have tested something similar. I noticed that when a good pinbar is penetrated, the price usualy does not make it back to the high of the penetation move. But I looked only at daily and weekly TF. The only problem is you have to enter manualy (stay at pc for the day) and choose only the best ones.
Picture explains everything...Ignored
Disliked... now mark all the other pins on that chart that retraced past the left eye and still made a profit.Ignored
DislikedOh lovely , now it decides to go down
Another victim reporting in
I was trying to get snazzy with a 1HR BEOB (The earlier one, not the one that is just after working lol) . . . Needless to say, -1%Ignored
DislikedThis is exactly what I meant. Go back over my post and you'll see that I said that nothing in my testing shows anything to warrant an entry before the breach. That's just me. Rac is hugely profitable doing this.
What I meant was that entering after the breach, if you were minded to be aggressive (and I'm not) you could set your stop above the left eye. I'm pointing this out to show that there are ways to be aggressive and still wait for the breach.
Personally I want to keep things simple for now. And today it's saved my bacon.
Jim,...Ignored
DislikedI am phobic to Fundis so maybe Mark (Rac) will come up with your answer,
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