how did that big drop effect you a couple weeks back?
me, i finished a semester of college and starting summer school in a couple weeks.
welcome back
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHi Guys
EurChf is being very rewarding for breakout traders lately. Those supports are very well defined and if broken price burst for atleast 20 pips. I guess there are breakout orders stacked under the 1.4000 BRN. Imo its good oportunity to play it with very tight stop.
CheersIgnored
DislikedLasVahGoose
Member
I noticed your post looking for a fibo indicator that will draw the levels on the chart.
I can't find that thread again or would post it there but, I found this indicator and thought maybe it was sort of what you are looking for or can modify it.
Here is the indicator explanation
http://www.iforex-indicators.com/dyn...dicator-2.htmlIgnored
DislikedI got a question to all of you: When speaking of "tight stops" do you mean reducing the risk (e.g. 2% to 1% of account) or do you use tighter stops (less pips with full 2% risk) whenever you don't trust the setup so much and are prepared to exit earlier?
I hope my question is understandable.
@James16: Very nice to meet you in person. Thanks so much for sharing your wisdom here and building up an armada of such great and honorable traders! I'm looking forward to joining your group this year...Ignored
DislikedHi HanSolo
In case of this setup i would like to see a good momentum and no drawdown after breakout so i wouldnt let it go against me more then few pips. If momentum wont be there i will close it immidiatly. It is rather short term trade but taking for consideration current sentiment ,leaving 1/3 on the table is not bad idea. For a pip value i would simply choose a number which wont affect me emotionaly while managing it.Ignored
DislikedHello guys.
How about this pinbar that is forming on the daily chart?Ignored
DislikedLooks like cable is trying to close as a pin as well. It would take a close above 1.4500 for me to even think about it though.Ignored
DislikedHello guys.
How about this pinbar that is forming on the daily chart?Ignored
DislikedScenario: You get nice setup, let's say B+ pin bar, bar gets activated. You have your first TP at first trouble area. But price has trouble reaching it and reverses and goes to negative, let's say below/above first eye.
Question: Do you leave your SL at full bar or do you move it?
Question: If you move your SL, on what ground did you decide to do it?
Any help will be appreciated.Ignored
DislikedHello guys.
How about this pinbar that is forming on the daily chart?Ignored
DislikedThank you for clarifying things up.
I would like to take this scenario further and say we got stopped at BE. Then price retraces to first eye and starts to move again in 'our favor'. Would you re-enter? I realize this is a very broad question, but still. What is your view on re-entries?
Thank you.Ignored
DislikedI would touch trade BUY @ 1.1244 sooner than I would sell on the break of that pinbar!Ignored
DislikedI would touch trade BUY @ 1.1244 sooner than I would sell on the break of that pinbar!Ignored
DislikedHow can you buy at that price before the pinbar breaks?:nerd:
well maybe if price touches that 1.1244 before tomorrow, (i just answered myself)
Hi Dan, i like your posts.Ignored