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Mike would also be looking for an eclipse on Jupiter... Confluence.
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Only then will he pull the trigger.
Where can I learn more about Price Action like those in James16 charts? 9 replies
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Mike would also be looking for an eclipse on Jupiter... Confluence.
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DislikedHey Boca
I definitely agree this is a very important level/ppz. I am not particularly biased to a long or a short as I can see reasons for both to occur.
Best
MikeIgnored
DislikedI'm throwing this out there for discussion, but what are your thoughts regarding trading against the major trend?Ignored
DislikedI always look at the overall trend before I go into a trade. It is suicide not to. You gotta know the environment you are trading into before you do it.Ignored
QuoteDislikedHowever, and this may be a bad habit I have picked up here , I dont mind a bit of a scalp on a quick countertrend move. But you have to realise that you are trading against the trend, and act accordingly. Its a short term trade, it could go against you at any time (and go against you HARD) and you really need to manage your risk well.
QuoteDislikedBut act stupid when you are swimming against the current or let your guard down, and your ass is probably gonna drown.
DislikedHi Mike,
Thanks for your repsonse and this brings me to an important question regarding trading in the direction of the longer term trend.
I'm throwing this out there for discussion, but what are your thoughts regarding trading against the major trend? I know there are many different ways to determine what that trend direction is and whether a market is range bound or not and the whole thing can get a bit subjective, but do you consider the longer term trend when making a trading decision?
Thanks
BocaIgnored
DislikedHi Guys,
Noticed a USDCAD pinbar last friday towards the close of the week.
Somehow, didn't quite sit right with me, and I spent the weekend wondering why.
Here's my 2pips... if the seniors and more experienced folk here could chip in their valued opinions, I'd appreciate it tremendously.
Anyways, here are the main points
(1) 4hour PB looked relatively small compared to the size of the candles during the down move.
(2) The Daily charts had a 2bar Pin + BE Outside Pinbar.
I like using stochastics, and those were overbought as well.
IMHO,...Ignored
DislikedHi. I want to know how many different price action figures there are?
I know that there are Double bar low with a higher close and other basic figures.
If anyone of you have time could you please tell me what kind of a figures u know? Thanks.Ignored