"Don't trade to trade . . . trade to win." - James16
DislikedLocation, location, location. Real estate and trading my friend. PPZ, shape and fibs mean nothing if its not at a swing High or Low. That one is in the middle.Ignored
I see where you came from on this trade.Look at the area you were trading into though.It had no room to run.You were aiming for the bar highs....but don't forget about the bar lows.Ignored
DislikedIt was pretty decent IMO.
It was a nice nice reaction off the 9320 region once price closed below this region with a BEOB there was little doubt as to where price should head next,
we know our direction we then look for our trigger, found it...and BANG!...goes the gun shot
I'm glad you're discussing the U/C possibility as I've been staring at the screen for the last couple of hours considering what to do!
It looks like a fairly good pin to me at a a good level of resistance - I'm thinking first obstacle at about 1.2500 and if it makes it through the next area of concern should be around 1.2400.
Any other thoughts on this?
DislikedGotta go out for a few hours, but wanted to post my March results.
As most of you know, I'm trying to follow the James16 minimum requirements to a 'T'. Trading only Day/Weekly. Doing my best to only take A setups. Getting better at that.
Feb: 13/16 winners, 8+% account gain
Mar: 13/15 winners, 2+% account gain (different exit strategy, more like J16's)
May: Live with small account if April is positive.
I'll be giving an update to my testing of exit strategies later this week or maybe on the weekend. I'm also done backtesting, but...Ignored
DislikedI just thought I would throw out my view on this one as I got a bunch of emails about this one....Ignored
I would assume you would enter on the retrace at 2630/2640? It coincides with 50Fib and PPZ (I mean the 2630/40 area, not the PB as the PB itself off from PPZ and 61.8Fib) - Good confluences. Or you had already in from 2720 Just my assumption.
DislikedI just thought I would throw out my view on this one as I got a bunch of emails about this one.
Is the bar a real nice BAR. Yes nice shape, good open close, nice long nose.
Is the location ideal enough to trade? Sure maybe. Is it worth it to me. Nope.
Onto the whys, and where it might still visit. Is it off some resistance yes you can see it is. But the usd/cad has been wedging up(see chart 1). This indicates consolidating market, which they do most of the time. Now the more this thing consolidates into that wedge, the more choppy price...Ignored
DislikedNo, I'm not in yet.
I'm watching 8 others us/based crosses to tip me off when the us weakness kicks in...
It could be either at the area mentioned or a pin break. I have no means to know.. just reading the 'tape' for now.Ignored