Wondering if somebody took this trade.....a pin bar on one hour chart and nice move down
We have one more entry for a similar pair on USDCZk pair
We have one more entry for a similar pair on USDCZk pair
Where can I learn more about Price Action like those in James16 charts? 9 replies
Disliked{quote} That's perfect T Too many people find this thread daunting so they move on. But just starting from the beginning is key. Read the first couple hundred pages and you'll be more caught up then you think. I'd suggest watching my newbie webinar here in full as it covers some of the very very basics and may help https://www.youtube.com/watch?v=jSV_3-FSslk Enjoy too it should be fun and exciting MikeIgnored
Disliked{quote} Hi Mike, What do you think on this daily pinbar at major resistance??? Would you play that??? Yours Kouroushi {image}Ignored
DislikedRegarding divergence. I use 2 different indicators with 2 different periods. I look for regular divergence on one and reverse on the other. I've noticed that when I see both it gives me some flexibility on the reversal pattern which counters the frequency problem eg PB doesn't have to be grade A+. If price breaks above then it usually goes some. Has anybody looked into this? I haven't seen it mentioned so far.Ignored
QuoteDislikedI got a question about divergence today and it sparked this email.
Divergence is rather easy to understand when looking at our oscillator(like
MACD). If you need material on it please email me for links,
But what this email is about is really UNDERSTANDING what divergence means
and how we can also see it in price. I use MACD to confirm, but really I
rarely even look at it, because after awhile you will be able to spot when
divergence...
Disliked{quote} Hey Green I don't have an answer to your exact question but here is some tips i'd offer about really learning to understand momentum loss on a chart I'm more of a fan of using price to spot divergence. Since any indicator is simply a calculation based off price Here are some text tutorials from the site on how to do that. You might want to train your eye that way as it will give you more confidence in understanding price {quote} {image}Ignored
Disliked{quote} Hey Green I don't have an answer to your exact question but here is some tips i'd offer about really learning to understand momentum loss on a chart I'm more of a fan of using price to spot divergence. Since any indicator is simply a calculation based off price Here are some text tutorials from the site on how to do that. You might want to train your eye that way as it will give you more confidence in understanding price {quote} {image}Ignored
Disliked{quote} Thanks for that great example! I love using divergence as a filter for my tradesIgnored
Disliked{quote} Thanks Mike, that's really helpful. I have just been stopped out on a short on NZDUSD ( small profit ), but didn't consider we could be losing momentum and looking at a trend change.Ignored
DislikedHi every body, i am new here, but watching your thread and posts guys. In trading i am over 6years. but for me its like a hobby. Walked the same path like many, (indicators, systems, courses etc.) three times dropped forex and after periods of time returned again to traiding. sort story Any way, i started watching this j16 "system" because i am trading very similar way, cause with expirianse i came to same conclusions - no indicators, "stop loss hunt" and momentum. So i will join you guys on same occasions and post some my views on setups your...Ignored
Disliked{quote} Hey V, Welcome to J16! A few comments about your charts: The AUDCHF shows a somewhat bullish pinbar at a swing high. We want to trade bullish pinbars at swing lows It's close is actually rather weak since it closes below the prior bars highs. If this particular bar had engulfed the previous bars by closing above then this would have been much stronger and perhaps worthy of a continuation play. Playing continuations with a price action bar can be tricky but it can be done if the continuation bar is very strong and engulfs prior bars decisively....Ignored
DislikedDo we have to wait till the price goes past the pin bar to enter the trade. I am in one trade right now and felt that I could have waited till the bullish bar breaks the pin bar. {image}Ignored
Disliked{quote} I've just edited what I had written before in this post, as looking around the forums, it seems a lot of traders are going to be going broke today due to this move. Not a situation to be joking about. Apologies. {image}Ignored