Hi, all
I saw 2 BEOB on E/U chart, but I am not sure they are good or not? Can anybody give some suggestion?
I saw 2 BEOB on E/U chart, but I am not sure they are good or not? Can anybody give some suggestion?
Dancing with Candlesticks
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHi, all
I saw 2 BEOB on E/U chart, but I am not sure they are good or not? Can anybody give some suggestion?Ignored
DislikedHere's an image with most of the examples of PA bars for those who just started following this thread. Let me know if anything should be corrected.
http://i877.photobucket.com/albums/a...n/sample-1.gifIgnored
DislikedNice illustration fxeturn!
a little observation:
-the pinbar shown is quite small. about 60% of its body is embedded in the previous bar.
ideally, the size should be much bigger (this goes for all PA bars), with close below the open (for bearish PBs; close higher than the open for bullish PBs), & with most of the body protruding away from (as opposed to being embedded into) previous bar/s.
Ignored
DislikedSeriously? I see 4.4 on Oanda, and even tighter elsewhere.
*edit* remoted into my home account, and I see 4.4 on MTB and around 2 pips on IB. I used IBFX for ages and they always seemed competetive. Have they gone downhill, or was I just getting suckered? >:/Ignored
DislikedThere isnt really divergence there, unless you ignore all of the nearest points. Given your MACD is set to 12/26/9, taking divergence from like a hundred bars back is pretty meaningless. Look at the nearest end - price moved up steeply, MACD moved up steeply. No div.
Channel line is pretty arbitary as well, it hasnt been touched in a long time.
Still, I dont think your trade was terrible. Nice big bar, swing high, decent amount of room before the FTA, and then plenty after that. If there was some divergence there, I would have taken it. As...Ignored
DislikedHey nuclear,
AUDCHF was another one I watched. Did not work out for me neither, since I overrated the profit taking on friday - so I got out at BE. But in my opinion it did what it was supposed to do: broke the BEOB and moved to FTA (see the gap @ April 11th). In hindsight I should have passed it due to traffic. Another reminder for being more picky.Ignored
Dislikedhi HanSolo, this is a big step to have taken bro hearing it said and seeing it for yourself from the charts is another thing entirely!nice one dont underestimate what you said here...
keep it up
jonIgnored
DislikedThanks! I did a little correction according to your advice and added a 'tips' section. I've replaced the image in the same post.Ignored
DislikedThanks for your motivating words! The pleasant feeling from being stopped out at BE and knowing WHY it happened greatly exceeds the one from any hit-or-miss high-profitable trade I ever had. It's great to be here.Ignored
Dislikedfxeturn,
the current #3 is better. it is ok, size-wise.
location is a different matter.Ignored
DislikedI've replaced the image in the post with the new improvements as suggested. So it should be ok now, as in just 'ok' right?Ignored