I watch with interest AUDCAD close above 1.0065
http://i1243.photobucket.com/albums/...psb723c7ce.jpg
http://i1243.photobucket.com/albums/...psb723c7ce.jpg
Where can I learn more about Price Action like those in James16 charts? 9 replies
Disliked{quote} I agree with you, going break even is nothing to the market. We do that so that we do not have any losing trades but as I said it is not an optimal method of trading. When we get the ability to select only the \"best setups\" we can use the logic to move our stop loss to break even but then you have to keep analyzing and get the ability to select the A trade setup. Also I feel that once you master all the basics of this method which may take one month to 3 months and after that it is just a matter of psychology. I mean you should be able...Ignored
DislikedEUR/AUD could be a nice fakey don't ya think? I believe it is a good level on the weekly as well. {image}Ignored
DislikedThe longer price holds around the more it tilts towards a fake out storyIgnored
Disliked{quote} Hey ghous Could you clarify that for me please? The more it tilts towards fake-out because....it hasn't broken down as it would have with a true breach of the level? Something else? Just curious as to the 'why' if you'd be so kind. Thanks manIgnored
Disliked{quote} Hey Stark, Yes you pretty much got it. The reason why its always preferable to keep away from taking small bars headed against a major move is because the pin bar itself is weak to allow enough doubt in a conservative traders' mind. ....Ignored
Disliked{quote} I'd be careful there. That looks a minor swing point and the overhead bearish story is quite well established. A tricky one for sure. {image} g.Ignored
Disliked{quote} any surprise to see the $80 mark hold? Stock, forex, commodities, all that matters is price and it's that simple {image}Ignored
Disliked{quote} any surprise to see the $80 mark hold? Stock, forex, commodities, all that matters is price and it's that simple {image}Ignored
Disliked{quote} Expecting it to sell off from $80 Mike- any target in mind ?Ignored
Disliked{quote} Hi Ghous , i saw it this way because i haven't seen a H&S. {image}Ignored
Disliked{quote} After a period of strong trending, we have, for a long while now gone sideways and choppy. Importantly, price has been spiking its way up and getting rejected again and again. This is what caught my eye more than the H&S as you're right its not as clear but you can still make out a pattern pretty close to the H&S. And then again, a H&S isn't a magical pattern. It represents order flow dynamics and encompasses a complete rhythm of price action that is very conducive to reversals. g.Ignored
Disliked{quote} Ghous whats your views on NZD/CAD? Is this a good pin bar to trade or up trend is too strong? Sorry new to PA trading {image}Ignored