DislikedExploring Oanda, that doesn't even look like EUR/USD in my other MT4 platforms, I thought we had double inside bars on daily.... still ok this?Ignored
Mike
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedExploring Oanda, that doesn't even look like EUR/USD in my other MT4 platforms, I thought we had double inside bars on daily.... still ok this?Ignored
DislikedExploring Oanda, that doesn't even look like EUR/USD in my other MT4 platforms, I thought we had double inside bars on daily.... still ok this?Ignored
DislikedOanda daily bar closes at 12am est which is 5-7 hours later then most platforms. This will greatly change the look of your price aggregation
MikeIgnored
DislikedHi Jay,
Your are correct, that is technically a dblhc. Unfortunately, it looks to be in a bad location. Generally these are best played at swing lows. This 2 bar setup seems to be in a choppy area. The only confluence it has going for it is the bounce off the round number (130.00).
Another question you want to ask yourself after seeing a bar setup is: "Where is it likely to go?" These questions will help you map out whether the trade is worth pursuing and if so, what your trade management will look like.
Great observation, and generally...Ignored
DislikedOanda,s charts are crappy! i have an account with them but i trade off mt4 charts. i pretty much ignore there charts( although you can get some trades off there 3h TF)
it does show price before any other broker after the weekend though(for some reason??)so its good for that
EDIT: and what Mike said lolIgnored
DislikedGreat trade, I wish I was a bit more aggressive on that one. Failing momentum to the topside. I have this one on tonight's watch list. 1400 specificallyIgnored
Dislikedare u talking about the BEOB Thierry traded?
that BEOB was indeed headed into/right at an immediate potential trouble area (your blue box) but as u can see price broke down with zero to minimal drawdown....Ignored
DislikedDo you think they are reliable in general? I can get used to trade like you of MT4, the most important aspect is the safety of our funds and prompt withdrawls, honest dealing etc...Ignored
DislikedOanda,s charts are crappy! i have an account with them but i trade off mt4 charts. i pretty much ignore there charts( although you can get some trades off there 3h TF)
it does show price before any other broker after the weekend though(for some reason??)so its good for that
EDIT: and what Mike said lolIgnored
Dislikedyeah, in my experience they have been very good, no slippage no waiting for money (in or out)good service, i chose them for the same reasons as yourself, namely for the security of my funds not for small spreads or 200 buck offers.i did quite a lot of research before i opened an account with them and they easily came out on top. and they do have good spreads for most pairs btw
dont take my word for it though...
jonIgnored
DislikedHey lallous, it's hard to see from your chart what bar you took. It seems like the only valid setup is a BUOB that closed below 130.00. Although this one made pips, I wouldn't have entered where you did because the move may have been exhausted by then. On 4 hour chart, a 10-15 pip buffer above the bar high seems reasonable to me.
It can be very confusing, don't worry. It takes time to distinguish important areas. I'm no expert myself, but it has gotten easier with time. Just be patient, we are all here to learn.
You should consider highs...Ignored
DislikedIt's because Oanda do not close over the weekend like traditional brokers.Ignored
Disliked...
Yeah it had a nice down momentum, but at the close it seemed it didn't, well if we have a close below 1400 we could have an entryIgnored
Disliked..
Just thought I could have phrased last question better - How often do you change //update the ppz zones on your charts? I know this(ppz) is one of the main aspects of the J16 approach so any advice most welcome from u guys.Ignored
Dislikedaha...u want a very authoritative close on that BEOB.... u are really picky
Hello Kalbar,
i think, it depends on price action & price environment (trending/ranging market).
for example, if price is ranging, & is respecting PPZ levels above & below, then i dont need to update my PPZs a lot.
if price is trending/running away, i have to update PPZs more, because price is saying good bye to my current PPZs
also depends on how much time u devote on PPZ plotting (that is, if u plot PPZs only on nearby areas, or do u also plot PPZs +/-500-1000pips...Ignored
Dislikedus/yen looks like a good daily BUOB if it closes like it is now??just need it to close above 83 with a little conviction...Ignored
DislikedOhh, so then I will not use their charting at all. So I will have to basically follow my MT4 demo as always and switch to my Oanda for order entry screen only. I would ignore their chart window so to not make myself confused... if that is doable maybe I should go for them, this way I could start my live with 0.5% easily.Ignored