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There were so many signals tonight. And the other "less discussed" part of trading (after RR that we've been talking about) came up for me today. Psychology.Ignored
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Where can I learn more about Price Action like those in James16 charts? 9 replies
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There were so many signals tonight. And the other "less discussed" part of trading (after RR that we've been talking about) came up for me today. Psychology.Ignored
DislikedThe EURAUD and Cable were the ones that appealed to me. I've stepped away from charts so can't post for you Jarroo.
There were so many signals tonight. And the other "less discussed" part of trading (after RR that we've been talking about) came up for me today. Psychology. My first live trade was the GC daily IB long yesterday and it was a...Ignored
Dislikedmaybe thats too big a jump.... start by using the 1hr.. baby steps..Ignored
DislikedTrade: Short two positions at 1% acct risk each entry short @1.4086 (break of two day pin) Total risk is 2%. Potential Reward is 5.3%.
Stop Loss: Initial at 1.4260
Management Strategy: when price reaches 1.4052 move SL to 1.4120. First TP will be 1.3892 and will move SL to BE. Second TP target will be the 1.3750 area (around the 365 ema).
[size=3][font=Calibri]Price Action/Confluence: 48 hr Pin at swing high/off...Ignored
DislikedEuro/USD Trade Opportunity
Trade: Short two positions at 1% acct risk each entry short @1.4086 (break of two day pin) Total risk is 2%. Potential Reward is 5.3%.
Stop Loss: Initial at 1.4260
Management Strategy: when price reaches 1.4052 move SL to 1.4120. First TP will be 1.3892 and will move SL to BE. Second TP target will be the 1.3750 area (around the 365 ema).
Price Action/Confluence: 48 hr Pin at swing high/off round number/off PPZ-MACD divergence-Ignored
QuoteDislikedA winning trade is one where you follow your plan.
A losing trade is one where you deviate from your plan (ie, you use other people's input to make your decisions).
DislikedOkay, please let me know if this is good it sucks or anyway I can make it better, I will not get mad I will not cry or run away. Fire awayIgnored
DislikedTrade: Short two positions at 1% acct risk each entry short @1.4086 (break of two day pin) Total risk is 2%. Potential Reward is 5.3%.
Stop Loss: Initial at 1.4260
Management Strategy: when price reaches 1.4052 move SL to 1.4120. First TP will be 1.3892 and will move SL to BE. Second TP target will be the 1.3750 area (around the 365 ema).
[size=3][font=Calibri]Price Action/Confluence: 48 hr Pin at swing high/off...Ignored
DislikedGBP/USD is my favorite setup of the day because it appears to have more breathing room than the other setups. I am placing the stop loss 10 pips above the high of the BEOB. Yes, that means price will have to move far for a decent R:R, but I want to follow the basic stop loss rules this early in my trading.
The BEOB bounced off of what I see as a monthly PPZ near the nice round number of 1.6600 and a 38.2 fib on my monthly chart. Also, the BEOB ran through the 365 EMA.
I do not see any "areas of concern" above the PPZ near 1.6000. I do not...Ignored
DislikedHere's a great trade on the 4 hour (that I missed tonight. darn it.) that shows a great setup and applies the "This is critical" from James16.
...Ignored
DislikedIt would be a nice trade Jarroo though I missed it too. I entered on the hourly PB (pardon me for posting hourly chart).
1.6000 seems to be a nice spot and area of interest (imho). Since it breaks the daily BEOB (nice location imho), I tend to hold this one and hopefully it does not retrace too earlyAnyway, it's already a free trade.
Have a goodnite/day everyone
Quote of the day: Learn to let go, and you will trade like you have wings.Ignored
Dislikedjust my take on the gb/us setup.
im short also (about the same price as that 1h pin,TrailingST set at @ BE. full possition)but im watching this level closely as i feel it carries a little weight.i also have a 2 * fib confluence.
jonIgnored