Looking at IB4 setups, I found a real tight monthly IB in GBPAUD straddling the 1.65 Big Round number. What you guys think?
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedFXCM opens at 3 ET for this pair big spreads......pin working....approaching 1st target areaIgnored
Dislikedtechnically yes---you are correct----fudge factor on my part...just like some of pin bars ....proxy bars.....so now do we have proxy inside pin bars?Ignored
DislikedHey Artie
Glad to see some of you lurkers come out and post
Yes you are correct 67 would be the much more major trouble area but...Ignored
DislikedHi guys
Just done my Sunday Night scanning(UK) and do not see any A class setups on the weekliesdailies. Anyone seeing any good setups for the week ahead. Had no trades last week so it would be nice to get moving again this week. Some pins about but not A class, most of them are in traffic.
bertiIgnored
DislikedHi guys
Just done my Sunday Night scanning(UK) and do not see any A class setups on the weekliesdailies. Anyone seeing any good setups for the week ahead. Had no trades last week so it would be nice to get moving again this week. Some pins about but not A class, most of them are in traffic.
bertiIgnored
DislikedYes these can be tricky. Fridays are notorious profit taking days esp in such a strong trend. If the left eye area can't hold I would expect it to fall. But we really need to monitor these first trouble areas(bluebox) extra close in a strong trending market. I really am never comfortable with small bars trying to turn such a strong trend.
Hope everyone had a nice weekend
MikeIgnored
DislikedBut there are also those who chronically undervalue the psych aspects of the game. They think that a reliable methodology is all they need and it should be as simple as pressing the button when their methodology tells them too.
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In fact to some of those people it may just come naturally, which is why they refuse to accept the value of trading psych.
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Those who undervalue trading psych usually have a response along the lines of "just don't do those things dummy"....Ignored
DislikedThere are a lot of trading sacred cows that can be skewered this way.Ignored
DislikedAll of which is a very long winded way of saying that it's a balance issue, like anything else in trading. Everything is just a piece of the puzzle. Make it add up for you. Methodology, psych, money management....it's all part of the game. Balance all of those into a workable ecology for you, and you will succeed.Ignored
DislikedNoticed this setup on Trade Station, but I don't see it on MT4.
First off, if I were to trade this off trade station's chart, I welcome any input. Pin bar on a swing high, off the 150MA and off the .618. FTA @ 1.3440 area
Secondly, should I put more weight on setups that appear on MT4?
Thank you
SladeIgnored
DislikedWhat are your thoughts on EUR/NZD Daily?
Friday formed a clear pin bar (on GFT UK Dealbook 360) - see attached.
Fundamental news suggest a recovery of EUR against major currencies following indications that an agreement on Greece is within reach.
Shape + fundamentals suggest a pinbar long trade. Thoughts?
EDIT: Other possible pinbars I'm looking at (but none seem as good as the EUR/NZD one shape-wise are):
ES35 - eyes aren't too close together
CHF/JPY - the distance between the eyes is a tad too big
EUR/JPY (rather hesitant to short EUR...Ignored