DislikedWhat big consolidations are you talking about ? I see it supremely trending !!!Ignored
At least, I'm using it as such.
cheers
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedWhat big consolidations are you talking about ? I see it supremely trending !!!Ignored
DislikedUSD/CAD
trade management and exits are harder for me than the entrys...i try to operate from now without well defined take profits, just pull my SL step to step... the market should decide
AttachmentIgnored
DislikedHello again friends... today I think I took the day to bother you all with newb questions!!
What MAs do you think it would be of most value to look for convergence in Daily charts?
I heard James mentioning the 150 and the 365 EMAs! What do you guys think?
CheersIgnored
DislikedInteresting...FxPro always seems like a nice broker...
It looks like HnS - I think that this pattern is good only as a reverse one so - at top (shape like this one) and bottom(reversed) of trend. I don't think it will work good at big consolidation, in which we are now.
cheers
And Chanya, sorry, buy I also don't hope for your runner I hope for mine, as we are on opposite sides of market now ;DIgnored
DislikedHey Short, I use the 150 and 365 EMAs as James recommended. It is pretty amazing how well they act as support and resistance on every time frame. Wouldn't take a trade solely on EMAs, however when they line up with other factors to create confluence they are very effective.Ignored
DislikedDaily GBP/AUD; looks like we are going to close lower than yesterday and that means DBHLC in a crazy overall downtrend. However, there would seem to be a minor consolidation (last 6 days) going on plus the divergence is not encouraging.
Should I short this sucker? Say on 40% retracement?
Thank you for your thoughts.Ignored
DislikedDaily GBP/AUD; looks like we are going to close lower than yesterday and that means DBHLC in a crazy overall downtrend.Ignored
DislikedUSD/CAD
very nice downtrend, broke the trend channel, waiting for PA to add another position on the current level. Target is 0.9800
AttachmentIgnored
DislikedRaf , this is my chart ...
Hey Mike , I would like to know your point of view on this one ... I am not fond of patterns and stuff but thus is just too clear to ignore ... Whats your say on this one ??? I should not be hoping for my long to be a runner I guess ...Ignored
DislikedUSD/CAD
very nice downtrend, broke the trend channel, waiting for PA to add another position on the current level. Target is 0.9800
AttachmentIgnored
DislikedFriends,
there is an obvious thing that anything we see on charts is a matter of the time frame we use. What worries me is how this specifically applies to pinbars.Ignored
DislikedHere's my chart....pending order at 1.0497. I won't leave it open for long if it doesn't trigger going into Friday.
Pinbar, for Jarroo's method you could theroteically sell at the daily level, TP and/or buy the weekly. My plan if order is triggered and goes my direction is to quickly reduce risk, watch that wkly level on 4H and then close out if support holds or trail if it turns to 4H support. Second chart is what I would like to see. My first target is currently not visible, because it's ttoday's low, where price is currently sitting....Ignored
Dislikedand just to play off this
or to keep simple for the new folks as I know there is a lot of TT going on here lately but
Nice clean BEOB swing high, Big bar, Strong close, Divergence, Breaking TL. That's classic J16
If you are new it doesn't get easier then that, just keep it simple when starting out. Add things as you go. Don't be overwhelmed by all the information, start with the basics
Best
MikeIgnored
DislikedHi Mike,
Do you have a Stoploss on your trade?
Looks like a good trade to me. Some news on AUD and CHN out soon.
CheersIgnored
DislikedHere's my chart....pending order at 1.0497. I won't leave it open for long if it doesn't trigger going into Friday.
Pinbar, for Jarroo's method you could theroteically sell at the daily level, TP and/or buy the weekly. My plan if order is triggered and goes my direction is to quickly reduce risk, watch that wkly level on 4H and then close out if support holds or trail if it turns to 4H support. Second chart is what I would like to see. My first target is currently not visible, because it's ttoday's low, where price is currently sitting....Ignored