What do you guys think about this weekly pin on Gbp/Usd? Price break pin low and went 90pips or so, but then bounce from 1,58 level, broke 50%fib and continue north. Why this pin should not be taken?
TIA
TIA
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedWhat do you guys think about this weekly pin on Gbp/Usd? Price break pin low and went 90pips or so, but then bounce from 1,58 level, broke 50%fib and continue north. Why this pin should not be taken?
TIAIgnored
DislikedWhat do you guys think about this weekly pin on Gbp/Usd? Price break pin low and went 90pips or so, but then bounce from 1,58 level, broke 50%fib and continue north. Why this pin should not be taken?
TIAIgnored
DislikedHello Jaroo,
Thank you for the detail explanation and it really give me a lot of help.
The most thing concern me is:
How much pips will you give out in case you do not have time to move BE and price go back....Ignored
DislikedAs much as it would suck to be in this trade at the moment, there is absolutely no reason you should be out of it yet. Your stop hasn't been hit.....and you aren't in profit, so there's nothing to do yet but wait. (Which is about 95% of trading anyways.)
CWIgnored
DislikedWhat do you guys think about this weekly pin on Gbp/Usd? Price break pin low and went 90pips or so, but then bounce from 1,58 level, broke 50%fib and continue north. Why this pin should not be taken?
TIAIgnored
DislikedI'm in the AUDUSD weekly which is a similar setup. And I would take it every time it showed up. It sucks to be in heavy drawdown. If I had a style that involved small RR TPs then I would probably have killed it before now, but my current style is more like Mike's. Pickier entries more room to breathe. My stop is at the end of the bar because that is a significant area of resistance and because I believe that this setup means price will give me profit before it breaches that level of resistance.
There are two lessons I see if this trade ends in...Ignored
DislikedHi there folks
Iīm watching this thread now for 2 months reading and learned so much from jim and the other guys.
The reason why i didnīt post earlier is my "not so good" (bad) english.
Now iīve tryed to workout what i learned on...Ignored
DislikedWhat do you guys think about this weekly pin on Gbp/Usd? Price break pin low and went 90pips or so, but then bounce from 1,58 level, broke 50%fib and continue north. Why this pin should not be taken?
TIAIgnored
DislikedWHile I agree with everything here, I just must put this chart back up so people understand WHY gbp/usd stalled where it did. If you are a move stops quick trader, take profit etc the way James shows well gbp/usd gave it to the area we expected a possible stall. It is up to the trader style if they believe holding through that area is beneficial(more importantly in the long run see Aarons post above).
But for learning purposes the gbp/usd chart
MikeIgnored
DislikedIf you pay attention to the previous resistance turned support, you would expect that there might not be that much of the room for this PIN trade to develop. I guess this is one of those take profit quick case.
On the other hand, last week's bar formed an I4B pattern. Let's see which way it will go and make sure to watch for the next resistance or support.
KenIgnored
Disliked@mbqb11
Hey Mike
Thank you for the nice Wellcome and the answer to my Quests.
On monday i`ll start trading Demo and try to learning by doing.
Itīs easy to find trades in a Historychart, now i`ll see how it works live.
But iīm sure you guys will help me to get the right way.
see you
MartinIgnored
DislikedHey guys what do you think about EUR/USD weekly PB.
For my is an A trade because of the location,we have beautiful confluence(PPZ at round number 1.3750, 31.8 fibo, 160 ema) and this is the first retested of the rezistente that was broken 4 weeks ago and now will act like suport,we see a beautiful rejection of this line.
If we switch to the daily we see that the first are where we will find trouble it's the zone marked with the yellow box witch is the first TP area.
The only concern it is the trafic on the left of PB and because he heavily reached...Ignored
DislikedHi all,
Can someone here explain why my MACD looks bearish whilst Kens is more bullish - I'm confused
AttachmentIgnored