Disliked{quote} I'm starting to completely agree about the point about forums. I'm finding they can cloud my judgement and mess with my trade ideas. Apart from this thread and the PF of course! This will always be my homeIgnored
Mike
Where can I learn more about Price Action like those in James16 charts? 9 replies
Disliked{quote} I'm starting to completely agree about the point about forums. I'm finding they can cloud my judgement and mess with my trade ideas. Apart from this thread and the PF of course! This will always be my homeIgnored
Disliked{quote} Hi aioico, Fudd might give you a bit more detailed analysis but that is not a pin on your weekly chart. The open and close must be within the range of the previous bar. If you do buy off that daily pin, your first area of resistance (FTA)will be at 1.60645. One more detail, my chart does not show a pin bar on the daily because my Sunday bar and Monday bar are not combined like yours. This is not a high probability set up IMHO. I saw this and passed on it without much more thought. K.I.S.S. {image} {image}Ignored
Disliked{quote} Kiss! good to see you Yep you are righto Be careful aioico. Remember we want that pinbar at a swing low with a nice long tail. But because the pullback was so sharp it's not really a good swing low. That just looks more like a "bounce". I wouldn't be surprised to see price continue down Best MikeIgnored
Disliked{quote} great job again Jib, few great trades from you recently looks like you are making good progress with your trading Notice the boxing effect can be used to manage your trade. At the time of posting I would even have moved my stop under that current bar low. you can look to the boxes for targets and trade mgmt Great job jib! Mike {image}Ignored
Dislikedhi mike, just wanted to know ur input on aud/usd daily and why didn't the BEOB near a minor swing high (with an arrow) didn't work out. it is near the good zone and round number. Ur input will be much appreciated. Regards Den {image}Ignored
Disliked{quote} Kiss! good to see you Yep you are righto Be careful aioico. Remember we want that pinbar at a swing low with a nice long tail. But because the pullback was so sharp it's not really a good swing low. That just looks more like a "bounce". I wouldn't be surprised to see price continue down Best MikeIgnored
Disliked{quote} Hey Fudd! Life happens and I had to step away for a while. I think I'll be lurking here on a regular basis again. Of course I'll be keeping it simple. Thanks for the shout out! Blessings to you and yours. K.I.S.S.Ignored
Disliked{quote} Thanks for the encouraging words Mike. i Know I'm no where near my trading aspiration i just wish i could cut down my learning curve to say a year. I was first introduced to Forex in late 2007. Most tutors around here in my country then, don't have the full understanding of what Forex trading is all about so i was only given Basic intro to Forex trading with a couple of web ad including FF but all i do then was just checking News signals. I stopped trading early in 2008 for more concentration on my education since both requires...Ignored
DislikedHi. I'd like to point out another aspect of trading I consider important. For me leverage is my friend. The key point for me is not how much leverage I use but who much margin I have. I think it's important foreseeing the expected price ranges within the time I will have a trade open and calculating if my margin will be enough to handle it. I can use a leverage of 20, 50, 100, 200; no matter how much, as far as I am able to maintain my margin positive. And usually the higher timeframe, the more margin is required.Ignored
Dislikedhi mike, just wanted to know ur input on aud/usd daily and why didn't the BEOB near a minor swing high (with an arrow) didn't work out. it is near the good zone and round number. Ur input will be much appreciated. Regards Den {image}Ignored
Disliked{image} I think this is a nice pinbar but it lacks space and yesterday's bar failed to break Fib Ret - Pivot confluence which I think is a strong resistance. Managed to take almost 1 % from this trade so I can sit tight for now. If it manages to break that barrier, it will probably become another good trade.Ignored