DislikedHi all,
I'm watching AUD/CHF at the moment. Looks like forming pinbar. But below RN. If daily candle will close below 0.9500 - will it be valid pinbar to go long?
Thanks.Ignored
If not up, then down, otherwise sideways :-)
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHi all,
I'm watching AUD/CHF at the moment. Looks like forming pinbar. But below RN. If daily candle will close below 0.9500 - will it be valid pinbar to go long?
Thanks.Ignored
DislikedMy view is not an expert one but I'd say this PB lost its beauty by the end of the day. It was marvelous 6 hours ago, but 0.95 remain resistance. If you scroll down lower Tfs (1h-4h), you will see that all attempts to close above have falied. Its a pity coz it realy looked promising earlier the day.Ignored
DislikedEvening all,
What are people's thoughts on these potential set ups? Long on CAD, short on CADCHF if they close above/below their respective levels?
The CAD is trading right in to 1.0 parity so I imagine that's a pass, but the CADCHF looks like it could be OK?
Any thoughts?
Cheers.
(Edit: LCR should be LCS on 2nd chart)Ignored
DislikedI have a question about stops. I hear many here say they enter some trades with a tight stop. Are you using a certain price per pip or still using a .5% or 1% of account? Or do you pick a reasonable area to put a stop and use .5% or 1% but immediately adjust your stop?
RoloIgnored
DislikedI would like to ask about this PDF
And to be precise about the transaction, James. Do I understand correctly that many deals with James without confirm your PA? A committed from touching ppz and trend line? or he looks at lower Timeframe?Ignored
DislikedI have a question for the Seniors of this thread,it is regarding PA crossing Pivot zone on daily chart, the next day would be OK to drop down to 1H chart and enter on pullback to pivot zone, or is preferable to wait for the pullback on the 4H or daily chart??
ThanksIgnored
DislikedHey, Mike. Educational question about wick trades. I read about it in this tread here and there. Do I understand right on the example:
Aud/chf. Price failed to close above 0.95, we sell on the close of a dayly bar to the wick. The low of the previous bar is our target?
I demoed it,as I think it suits the criteria you mention for that game. Plese let me know if I misunderstand smth.Ignored
DislikedWe are approaching very nice lvl - tested repeatedly as support and resistance and with brn...Ignored
DislikedIts ok to be using a multi time frame analysis. The only problem is people will sometimes get carried away and end up over trading. So you have a break out on the daily and they'll be eager to catch anything that looks like a pin bar on the pull back on a time frame anywhere from 4H to 5M. This is where it gets a little tricky.
Every time frame has its own order flow, and while you can look to relate the order flows of different time frames its a good idea to use time frames that are close by. For a daily PPZ for instance I wouldn't want to go...Ignored
DislikedHey Majestic,
This is not Mike, but allow me to chime in if that's ok,
Mike's wick plays are a result of his knowledge of price dynamics backed by years of practice. These wick plays can get you in trouble very quickly (and very deeply) if you don't strive to understand the times these plays can be undertaken. Believe me, with very little knowledge of the markets one can still expect to be lucky a lot of times if one just learns how to spot the A+ pin bar. That's why all newbies are strongly suggested to start off by kerning to trade A grade...Ignored
DislikedHey, Mike. Educational question about wick trades. I read about it in this tread here and there. Do I understand right on the example:
Aud/chf. Price failed to close above 0.95, we sell on the close of a dayly bar to the wick. The low of the previous bar is our target?
I demoed it,as I think it suits the criteria you mention for that game. Plese let me know if I misunderstand smth.Ignored