Bluetrader,
Can you give some more details of this trade? What are you looking at here? PB, long, short etc. Sorry, this may be obvious to most but I am new to this.
Thanks.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHey Adi
No one "setup" is more effective or reliable. Every setup and situation is it's own play in my book. Pinbars are no more effective then outside bars, just as the daily timeframe is no more reliable then the 5min. Everything is in relation to one and another , so that is how I approach every chart adn every trade. It's the situation(bars+s/r+confluence+ everything else) as a whole.
As for how I play them. When it is a multibar high/low I simply play a pure break. Just a buy above the highs. I play pullbacks only for breakout patterns,...Ignored
DislikedHey Mike, very interesting strategy there. I saw James' charts on it but wasn't sure how to play it myself.
What other factors do you look out for other than having at least 3 bar highs/lows? Does location and confluence play a big part here? Also, do you set a tight stop loss and monitor such trades very tightly since most of them seem to retrace back after the fast break?Ignored
DislikedI usually look for more then 3-4 bar highs/lows in a row. There is no set one thing I look for necessarily. I just try to find ones that stick out and I believe will give a good push. My stop loss generally goes under the breakout bar(the bar that breaks the bar highs/lows).
Best
MikeIgnored
DislikedHey Lee
We always want to wait for a break to confirm the continuation.Ignored
DislikedHey Greenhaze, I have taught English here in Japan for 25 years, your English is fine. Believe me, you can communicate really well. Don't worry about it, you are running rings around the English I see here.
Interesting theory about the stops.Ignored
DislikedHey Lee
We always want to wait for a break to confirm the continuation.Ignored
Disliked25 years? Must be some kind of masochist. lol
I`m going on 9 years here and don`t know how much longer I can last. What keeps you genki?Ignored
DislikedWOWOW WHATS UP WITH SP500???? 10% FALL just like this!!!
THIS IS DAILY SP500!!!
EDIT: Was it this? http://blogs.barrons.com/focusonfund...-on-spys-fall/
EDIT: LOL
NYSE Euronext cancelled all trades in the $74.8 billion SPDR S&P 500 ETF Trust ...Ignored
Disliked25 years? Must be some kind of masochist. lol
I`m going on 9 years here and don`t know how much longer I can last. What keeps you genki?Ignored
DislikedThanks for the confirmation.
...
Here is my 2nd try:
I am also learning SR levels so that I can learn entry and exit. But at this point, my SL is previous low @130.10, TP is at support level 127.87...Ignored
DislikedThanks for the confirmation.
So my earlier two trades wasn't valid. But today GJ did break through the double low bars, good timing. So I trade again, I closed those invalid trades after your comment. They are demo anyways.
Here is my 2nd try:
I am also learning SR levels so that I can learn entry and exit. But at this point, my SL is previous low @130.10, TP is at support level 127.87. I am afraid that it already broke through the support level around 128.75.
So much to learn, thank you for your reply mbqb11
AttachmentIgnored
Dislikedprobably he loves the place,the culture, the people so much.
or perhaps he is a Japanese or has an unfinished business in Japan in his former life.
better check our grammar, we got 2 instructors around.
Hello leelar,
IMHO, u should get familiar with S/R, PPZ plotting first before u venture into taking continuation trades like this.
S/R & PPZs are our roadmaps. it will help u navigate through the price jungle.
regarding your trade..
my concern is u shorted near/right at a possible bottom.
i would want 128.50 - 129 broken...Ignored
DislikedWomen, wine & song.
Yeah, it is not like the old days of people coming up to you in the streets and offering you 10,000 Yen an hour to teach them.
I feel Japan has had its good days, next stop is China.
Maybe a uni teaching job, I have someone setting something up for me right now.Ignored
DislikedHello PB, just wanted to stop buy and tell you that I'm still on board. I just had to do some business in the past weeks. It's great to see that you are still active and getting pro status here. This motivates me a lot. Wwe hopefully will see soon at the J16-PF.
Keep up your good work!
HansIgnored
Dislikedwow, u got a multilingual tongue Sir
10k Yen, huh? very lucrative back then
i believe China has been taking in English teachers for some time now.
just in case, FYI... well, IMHO, Chinese language is much difficult than Nihonggo. the Chinese characters to are much detailed/intricate compared to Hiragana, katakana, kanji. (i can speak, write & understand a bit of both worlds)
anyway, i think u can manage really well.
seriously, we have to correct such signs (in China &other countries)
http://www.travelblog.org/Photos/2965369
http://www.jaunted.com/story/2006/10...regnant+Lounge
...Ignored
DislikedYeah, you see the same weird signs here.
Yeah, I speak Japanese fluently, my wife is currently teaching my Chinese.Ignored