Hello,
I got two levels and try to find which is better, any comments ???
I got two levels and try to find which is better, any comments ???
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedMike, can I get your thoughts on these FX pairs that I scanned, looking for clean PA at swing points. These are the ones that jumped out at me. These charts are end of day. (the S/R lines are done by an indi, I just didnt take it off when taking the screen shots)
Cheers
Dan
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Disregard the last chartIgnored
DislikedHey Dan
See this is a great first example of very easy answer for me. None of those pairs are at good swing points. NOW that doesn't mean we can't find and trade bars at different swing points, but bouncing off the last thing about starting simple and easy we can see these are not good swing points. Price is at very minor swing points or even "boxing" in all these pairs meaning then we are trading back into trouble immediately.
Example of good swing point(where James teaches us) vs yours.
I marked off two swing highs and a swing low. Now...Ignored
DislikedHello,
I got two levels and try to find which is better, any comments ???Ignored
DislikedHi Mike, thanks for the reply. Yeah I understand why the first chart I posted isnt really a good setup looking at it now since its in that consolidation area. But what about EUR/NZD that looks like a nice clean swing point and not in a box ? To me it looks just as good as the first swing in your chart. How do you go about finding a good swing point, what does it look like, what are its characteristics etcIgnored
DislikedHello,
Yes, there is buy, but I first find this upper level and took this long on retest, but now I think, that this lower level is better ..Ignored
DislikedHi Mike, thanks for the reply. Yeah I understand why the first chart I posted isnt really a good setup looking at it now since its in that consolidation area. But what about EUR/NZD that looks like a nice clean swing point and not in a box ? To me it looks just as good as the first swing in your chart. How do you go about finding a good swing point, what does it look like, what are its characteristics etcIgnored
DislikedHey Dan
This one is also in a box, as price is trading right back into the last point of selling. It's identical to aud/chf
A good swing point is going to be a point that is away from previous price. This is what people hear refer to as space. The above charts we would say they are in traffic. Again that doesn't mean we can't trade them but if you can't see the difference and trade the clean ones at good swing points then you want to work from the basics.
Have you seen my video on introduction to pinbars as well as traffic vs space. They...Ignored
DislikedHey Mike. Thanks for the reply. Yeah ive seen the free videos on traffic v space and pinbars a while back. Recently watched them a few more times. I just didnt think that one bar low (like in that chart) would make it a 'box'.
Anyway Ill have to keep scanning these charts. I tried the S&P 500 yesterday and it was just too much (i dont have a platform that has these stocks, and im not sure how to manage looking at so many pairs)
Im looking at the 47 FX pairs at the end of everyday from now on, so ill see how that goes. In your experience,...Ignored
DislikedHey Dan
Did you try downloading the thinkorswim platform I recommended. It makes it very easy to scan these markets
I would say for sure watching 50+ pairs daily/weekly you will be able to find a good trade a month. But then again maybe some months not. I trade 1hr to monthly and find trades every month. Some more then others, and my toolbox is much more expansive. You want to keep things simple, if you can't find a great A+ trade one month, no big deal...the idea is not trades right now it's learning to trade right
Best
MikeIgnored
DislikedHi Mike, Ive had a look at the thinkorswim website ... is it the 'papermoney' option that we select for the demo platform .. its not really clear.
Anyway I think Ill stick to the 50ish FX pairs that I have on my fxcm platform. Finding atleast 1 daily A+ setup a month should be achievable right ..Ignored
DislikedMike,
As I begin to explore TOS, can I get your thoughts on the following chart?
Thanks,
RodIgnored
DislikedHey Ritesh
I don't use Jarroo stuff alone so I'll let him or others jump in
Here is what I was looking at myself.
http://www.forexfactory.com/showthre...01#post6013601
Best
MikeIgnored