This is one of those cases when I just don't believe my eyes!!!
How is this possible?
Every trade for this pair in the last year would be a winner (or BE at worst) how is this possible???
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedLot of outside bar talk last few pages, thought I would post this AUDNZD demo trade I'm in. Thanks for the pointers on retrace of outside bars Jaroo. A lot of chart time last 4 weeks but no trades, so I've been studying.
Daily chart had PPZ, 61.8 fib, and RN confluence at 1.2800, also divergence.
Entered on retrace of 4H BEOB, with s/l outside of the BEOB and hard take profit.
Ended up trailing stops and am now at 1R locked in with a TP set at 1.267.Ignored
DislikedI really think it is. I was skeptical a month ago...
I can't believe it anyway, OMG OMG!!!!!!!!!!!Ignored
Disliked...
I marked every buob at possible swing hi/lo. And the results are:
10 Winners, 1 Loss,....Ignored
DislikedAnd that single "failing" bar didn't ever break, AKA not valid - didn't really failIgnored
Dislikedthis applies to me. may be to few others
when i see historical charts, i get lot of good signals and most of them are correct and profitable. but in real time i dont 'see' the same signal. may be due to over-analysis, negligence, fear etc.....Ignored
DislikedI cannot even imagine what's the Net Worth of some Seniors here....Ignored
Disliked8H touch trade had to be prior to 1.55 short off BRN +fib 61.8(I like these) entry not hit
PB close not so great imo ---tight management
with trendIgnored
DislikedTL = trendline (as u probably know by now)
u will see examples of confluence in the free james16 videos & charts by the seniors here. there are a LOT of charts here to learn from.
trading style is congruent to your personality --- it boils down to what u want/dont want, what u like/dont like, what u love/dont love, what u are comfortable/not comfortable with.
based on your posts, it seems like u are not yet too familiar with yourself. u will find that trading will be an interesting journey to self-discovery.
Good luck & Keep at it!Ignored
DislikedI will assume its about the importance of how a bar closes at a given level . . like a PPZ level and/or BRN.
Let's look at the GU on the Weekly, during the Fall of 2008.
We have a BRN, 1.5500, Price fails to Close below the 1.5500 on the Weekly and even the Daily. . .good indication that the 1.5500 is acting as Support.
Once Price breaks through and closes below the 1.5500, its a good chance that the 1.5500 will now act as Resistance.
We can see that once Price closed below the 1.5500 and even the Weekly and Daily Lows, they now acted...Ignored
Dislikedi have a question. i was looking through the charts on daily, weekly, monthly.
i tried to draw PPZ, but i realized that most of my PPZ, is the PPZ for all three charts. am i doing it wrongly? i have 5PPZ drawn on daily, and 4 of them have the same PPZ on the weekly and monthly.Ignored
Dislikedno, u are doing great.
what happened is actually not surprising because u are essentially looking at the same price chart, only thru different timeframes.
it's like looking at a certain area or subject using different kinds of telescopes (monocular telescope, binocular telescope etc).
Hope that helpsIgnored
Dislikedalright. does doing this help? as in drawing PPZ for the 3 TF on one chart. is this counted as confluence?Ignored