DislikedSome troubled area ahead of this one. If strong momentum ensues then we have enough room to protect ourselves.Ignored
g.
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I believe . . .
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedSome troubled area ahead of this one. If strong momentum ensues then we have enough room to protect ourselves.Ignored
DislikedNo, my rules for hard breaks do not change be it PBs, Outside Bars, DBHLC, etc. Yes I will change the size of the stop loss depending on the pair like the Gbp/Jpy.
The heart of this style as with any style of trade management (as I known you know well Aaron) is assessing the quality of the PA setup. Once that is assessed as high quality, then James16's "This is Critical" aka the traffic of the setup is observed.
Let's take the current Daily Gbp/Jpy. We have a BEOB at a swing High and a BUOB at a...Ignored
DislikedI went back to page 1 again as I felt as though my trading is in a confused state of late.
I have just realised something..
I will have my charts blank and draw ppz fibs watever at an obvious level and i will wait for price to get there and THEN SEE what happens.
I think of late of have been trying to make trades happen from nothing obvious.Ignored
Disliked1.06 is just too close for comfort...it never broke hard either, a hard break wouldn't have changed my mind anyways though...
g.Ignored
DislikedDamn....my first trade ever. Took a lose of 0.25% of my account on 15min chart
Feeling wired...it happened cause I didn't move my stop to BE fast enough I think...
I'm closing charts for today to avoid a revenge trade.
Good luck.Ignored
Disliked
I was looking at the 1.0700 level as a KaBoom level, because it fit the setup. And it did provide some good pips if managed tightly. 1.0700 lined up with the recent 61.8 fib level and a support level (Weekly PPZ) that could have acted as resistence. (1st chart)
The Rac Kaboom level (the real KaBoom) had the 61.8 fib level high at the top of the recent consolidation area, 1.0800 PPZ level which had an added highlighted area that Rac pointed out (check mark, 2nd chart).
Both trades were with the current trend.
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Dislikedah ah ah
Congrats
Just one question, how did you manage the long? stop below PB or fast TP?Ignored
DislikedDebra Medina {In-Studio} on Alex Jones Tv 1/4ebra Medina for Texas Governor 2010
http://www.youtube.com/watch?v=vcoiHkps_0gIgnored
Dislikedjarroo..
when i saw this chart i looked at it the way u did the first time ..(confluence with 1.07)-it didnt look really nice to me because of how much it had went thru resistance...
but on the second one, (where 1.08 is the confluence area), looked much better.
my question is, how do u know which way to plot that fib? and what do u mean by 'hard break'?
thanks in advance!Ignored
DislikedHey art. Actually, because Price broke hard through the support level of the 1.07, it is more likely to become a resistence level in my experience. And form a nice PPZ level, as with the Weekly.
The 1.0800 looked more in traffic to me. But the area bar Lows that Rac pointed out (check mark on my recent chart) proved to play an important role.
Fib level from recent major swing High/Low on the given time frame.
All quality Price Action setups have an inherent momentum movement in them, imo. So when then do break and break hard and fast,...Ignored
DislikedJarroo,
how do enter @ PA such as PB, BEOVB, BUOVB etc.
is it on break of the PA or on break and then retrace, at some retrace level?Ignored
DislikedIf we do not wait for that break, we are more likely to lose our money.Ignored