First target 93,50 will be the lower TL of the daily up-channel...so far ok for my opinion.
Second target perhaps waiting how price reacts at this resistance? Remember you are trading against the main trend!
Have a nice day
Where can I learn more about Price Action like those in James16 charts? 9 replies
Disliked{quote} Hi dvimix, First target 93,50 will be the lower TL of the daily up-channel...so far ok for my opinion. Second target perhaps waiting how price reacts at this resistance? Remember you are trading against the main trend! {image}Ignored
Disliked{quote} I also think it is a very good idea to also take screenshots of all of your trades. Going back to my ICU/emergency experiences, they would always record our simulations and play them back to us. They would also play sims we did from several months ago. This is all based on that neuro researched I mentioned in my last post. I still go and flick through my old screenshots some times..Ignored
Disliked{quote} recently i also do this. in the graphical editor on screenshot i write why i take this trade(reasons). And after exit i do new screenshot , write results and some thoughts, mistakes. from time to time i look through my pictures and see my mistakes or i may be occur new ideas how i can play similar situations. I keep my records and screenshots in evernote. so when I want to take a trade, I think what can I write in my journal, what reasons,may be it only emotion trade. Hope that I can be disciplined and further.Ignored
Disliked{quote} As for myself, my favourite part of the week (whether it has been a profitable one or not) is at the market close, which in Sydney, Australia is about Saturday morning. I'll make myself a cup of tea and get to analysing every trade I took during the week, good and bad. I record some thoughts in a similar fashion to yourself and take a few screenshots. If I took a trade out of any emotion or if I did not stay disciplined in my pre-trade plan (e.g. I moved a stop because I read something silly on Bloomberg), I make great note of this and...Ignored
Dislikedserial backtesters, does anyone or has anyone taken screen grabs of JUST the price action candle and one or two candles either side for every trade i am thinking of doing this and attaching it against each line within my spreadsheet the point will be to learn VISUALLY and reflect on the type of candle (mainly the size) does this seem like a fruitless task as it will be all relative for each pair?Ignored
Dislikedserial backtesters, does anyone or has anyone taken screen grabs of JUST the price action candle and one or two candles either side for every trade i am thinking of doing this and attaching it against each line within my spreadsheet the point will be to learn VISUALLY and reflect on the type of candle (mainly the size) does this seem like a fruitless task as it will be all relative for each pair?Ignored
Disliked{quote} Hi doerpn, hope that can get BE as minimum. Unfortunatly, im not good in trendlines, so your snapshot give me some thoughts. Also think if tomorrow day close above 94, may be it will be good decision to close trade manually. And about indi, moretti12 gave you right link. Sorry, that cant answer earlier.Ignored
DislikedFirst trade for me in a week. Nice to get some action. This has triggered and moved to (net) B/E while I slept (4:30am Sydney time now). You're looking at the GBP/DKK 4H here. I've written some notes on my trade management. Cheers {image} Edit: Thought I'd add some notes about entry as well. Trendline, support/resistance zone + trending market. Trendline is longterm and shallow (the shallower the better!). We have what I nickname the lonely pinbar. That is, this is a pinbar with a stack of space to the left at a logical pull back in trend. Really...Ignored
Disliked{quote} Hi Lester, may I show you my view on GBPDKK?----nice spread however {image}Ignored
Disliked{quote} Hi Lester, may I show you my view on GBPDKK?----nice spread however {image}Ignored
DislikedNew traders, please read this next part! Whenever I enter a trade, my thinking is always "if I am triggered, what I can I do, and when can I start minimising or completely mitigate my risk?" The thinking of new traders with dollar signs in their eyes and dreams of yatchs are thinking "if I am triggered, how much money am I going to make?" Now, the second line of thinking is still obviously important i.e. how much money will this trade make me. However, if that is your focus, you will lose sight of the most important things in trading which are mitigating...Ignored
Disliked{quote} Wonderful chart doerpn. We're on the same page here as Donkey said above. I'll show you another from the same. {image} I took this trade on the same chart 2 weeks ago. Stopped at BE. Invalidation of a steeper trendline. Now I thought about this trade trade I'm in now a lot before I set my orders. In the end, I was happy to take the long I'm in and also happy to consider any shorts from the same area you have marked. I'll explain my reasoning below. I considered the prospect of shorts (from the 40000 level) as it does look like price is turning...Ignored
DislikedPS. I think the forum might be buggy. I've got a yellow flag next to my name but I only have about 30 posts! Is it based on number of posts/day? Maybe I should give it a break for a bit!Ignored