DislikedHaha to one day "eyeball" it would be great ;-)
Does Fxpro have a NY midnight close on the daily candle? I heard that that is a must when trading this style...true untrue?Ignored
Mike
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHaha to one day "eyeball" it would be great ;-)
Does Fxpro have a NY midnight close on the daily candle? I heard that that is a must when trading this style...true untrue?Ignored
DislikedI trade majority of my trades on the 4hr, so how small of a timeframe that is, debatable. I spend very little time trading.
we have beat the living dead horse out of the daily/weekly thing so I won't even go there .
Summary: Daily/weekly will give most the tools to help succeed wherever their trading takes them. Discipline, patience instead of over trading and button clicking. Some will NEVER and have never left those timeframes b/c they do just fine taking a handful of trades. Others watch 100+ markets daily/weekly have full time jobs and...Ignored
DislikedTouch trading is used with moving averages as well as static resistance/support levels.
So price comes up to the ma and will often bounce off.
So with touch trading when price meets the ma you go into the trade.
The risk is price does not bounce off and goes straight through.
So for confirmation, when price meets the ma you look at the bars.
It is the same with support resistance levels.
Does price show rejection of that level - it would do this by forming a pin bar for example - price goes up to the level and then pulls away forming the wick.
Similarly...Ignored
Dislikedalso look out for the size of previous bar(s) with respect to ur pa bar....
now u can use supremechaos' chocolate analog to analyse this scenario...Ignored
DislikedA NY close would be when the NY session is over which is conisdered more like 5pm est. This is when FXpros candle closes. Many uses closes roughly 2-3 hrs around that time depending on their broker. Neither is a must. I believe it is better to have one closer to this time so your bar doesn't start to get the less liquid sessions into the close(tokyo/sydney)
MikeIgnored
DislikedIt wont be up for long as i still have some work to do but come over right now....
http://www.james16group.us/Guests/guestchat.htmlIgnored
Dislikedlol. I suspect he collected enough 'plz tell me secret PA system thx' PMs and moved on to spam elsewhere.
It's a pity he didnt hang around...Ignored
DislikedHow can you tell if a broker has a NY close?
Do you use MT4 on FXpro or another platform?Ignored
DislikedHavent had many great higher TF runners lately - isnt hindsight a wonderful thing...Ignored
Dislikedlike fx_heaven said..
looking at your chart, it looks like the BEOB barely got triggered.
as expected, gbpusd 1.5450 mini PPZ did not break convincingly.
the eurgbp BUOB mentioned earlier also didnt get triggered (in my FXDD feed).
all this info tells me gbp strength is pretty strong.
a close today at/above 1.5500 - 1.5550 is extra bullish , IMHO.
the current forming-BUOB is like u said a potential continuation PA setup at a higher swing low/higher low. with trend so it has potential.
if u are not familiar with trading continuation PA setups, then...Ignored
DislikedSpace question.
How far back is traffic going to still be in effect?...Ignored
DislikedHow many pairs are you guys watching? I assume quite a few since the lowest you're looking to trade is 4hrs...? I have about 10 along with gold.Ignored
Dislikedpossible double pb if this candles closes like it is now? thoughts on how you would trade this?...Ignored
DislikedIf I may...
A close below 15450 would have cleared the traffic on the setup while giving the BEOB a more authoritative make up as well.
We have a long term up trend going and we need something special to reverse this, not that this beob was totally untradable but then such setups are usually always good to the FTA at best, and you can't complain along those lines on this setup.
The obvious FTA (15450) was way too close, and held which should be of no surprise.
(ignore the trade you see on the chart)
g.Ignored
Dislikedu have to make a choice, bro.
if u like it, take the trade. face the consequence - u either win or lose.
if u dont like it, then dont trade. face the consequence, 1 of which is "dont regret a trade u didnt take".
what u could have done is
-take it on demo.
-trade a small live position.
experience it or miss it
there is no other way.Ignored
Dislikedface the consequence, 1 of which is "dont regret a trade u didnt take".
.Ignored
DislikedI cannot agree more on this point. Regretting a trade you didn't take will only serve to reinforce bad trading psychology.
...Ignored