Hi Dan are we at an area of interest on GBPUSD?
Daily S+R + 0.786 Fib + Trendline
Daily S+R + 0.786 Fib + Trendline
DislikedDan regarding your live trading..if you look over it from 2009 until now do you end up having more BE trades and small losses and HUGE winners or what have you noticed about the percentages of those 3 groups?
Personally in my trading i tend to see alot of BE trades and a handful of small losses and BIG winners.
[font=Comic Sans MS][size=3]Now on the topic of moving to BE. If your in a trade and it goes in your direction enough for you to move to BE but then reverses...Ignored
DislikedGuys sorry I've got to run - my little boy is unwell and wants his dad! Will have to come back later to continue my repliesIgnored
Thanks for sharing your system! It is really quite amazing and is so similar to the way that I have been slowly learning.
I have just two questions for now.
1: Which pairs do you look at?
2: How many pips spread is the max that you would consider when looking at a pair?
Disliked" If anyone has anything else that isn't clear please feel free to ask."
I want to be precise about this:
Exactly how and where do you draw your fibs.
I can see so many ways of drawing fibs that I have avoided them altogether.
Show us where you start and in which direction you draw them and so forth.
It seems like an easy thing to understand but it can get complex depending on which swing you start with and in which direction.
For the sake of example, would you please do it on the EURGBP?
Thanks for your helpIgnored
DislikedThanks Dan for the reply.
I have posted a small update to the AUD/CAD charts posted last week.
- The pair continued it's movement up.
- There were some consolidating (inside) bars forming on 15/16 Sept. The price moved up above these earlier highs. The 20th saw a more convincing break upwards also towards the upper channel trend line.
- What would the price have needed to do to show you an entry?
- Or is it the fact this still below a significant trend line making a less attractive trade?
I guess I am trying to determine why this...Ignored
DislikedAnybody looking at Cad/Jpy. 82.00 looks like a major S/R area on the weekly. Formed a inside bar at this level on the weekly. Play a break either side ? Whats your opinion ?
Thanks for starting this thread. I really appreciate your style of teaching, and willingness to do so. I kept up with your Trend Trading thread, but I never got to the point of demoing the strategy because I was over my head trying to learn the James16 Price Action strategies.
In the James16 thread, the seniors always say that the candlestick size should be similar to the preceding bars in the recent trend. Do you factor in the size of the trigger bars and the surrounding bars in your analysis?Ignored
Dislikedthe AUDUSD bullish outside bar you took - isn't this countertrend as price had just made a huge move down?Ignored
DislikedDan , I include a weekly chart to show the 50% fib level at 1.3500 area from the highs of 11/29/2009. This would appear to me to be a good area to sell, if the trend is still down. Why not be looking for candles that will show the start of a new move down, & resuming a trend on a longer term basis? (please excuse the trendline showing from a shorter time frame that got included)
I had been selling before that but in my opinion price had rejected support around 0.8200 and moved higher up above 0.8500 before retracing back down and forming a bullish signal on the retracement - closing above the next level of s/r at 0.8500. That suggested to me that the uptrend was taking over again.
Please note that there is a difference though between entering near the beginning of a new trend once it has started to establish itself and picking tops or bottoms.
The basic rule for me is that if I am looking to go long I will be waiting for price to pull back to support. If I am looking to go short I will be waiting for price to pull back to resistance.
So in this example, AUD/CAD is not of interest to me because we are trading at a high. A good example of how I prefer to trade took place just a couple of days before (the 7th) where price had got above the 0.9500 level, pulled back to retest and formed a lovely bullish outside bar.
Hope that makes things clearer!
DislikedDan can you give me your opinion on my charts below, i have marked possible entry areas with the arrows.Ignored
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