DislikedDepends on how you define risky. For me it doesn't fit in line with what I do. I am watching for solid PA, before picking the top here. But great area to watch.
Best
MikeIgnored
Cheers
H
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedDepends on how you define risky. For me it doesn't fit in line with what I do. I am watching for solid PA, before picking the top here. But great area to watch.
Best
MikeIgnored
DislikedLook, this happens almost every day. These are two setups I marked in REAL TIME. But no I did not trade them even on demo. Just followed and marked as they closed... So easy... So attractive.. so.. ehhIgnored
DislikedHi Guys,
I know you all talk about location location location.
I found a pin bar looking bar on 1 hr chart,on EJ had a nose of 13 pips or so.
I believed it was good for 1 hour chart.
I checked connfluence found a lot of 50 fib ret and 61.8 ib ret and 150 ema on 1 hr chart all lining up.
So i decided i give it a try on demo.
The result was failed.
I don't damn understand the reason for failure,is it because i was fighting against bearish trend in daily today.
I did take a touch trade on EJ earlier this day it worked wonders made 36 pips.
Entered...Ignored
DislikedHey Doom
Read this post from me today before looking at my answer below....Ignored
DislikedOkay Guys i looked on daily and weekly i see a weekly line just at 114.73 is that the one that knocked the trade off.
Please help.
Regards
TazIgnored
DislikedLook, this happens almost every day. These are two setups I marked in REAL TIME. But no I did not trade them even on demo. Just followed and marked as they closed... So easy... So attractive.. so.. ehhIgnored
DislikedThanks Mike,
I am reading your post again and again.
I think i need to re-evaluate taking those kind of entries.
Okay,would you have taken a pin there,if it was big enough nose,or on a 4 hr chart.
Regards
TazIgnored
DislikedBEOB failed, cant really think of a reason why this one failed. Anyone took this trade as well?Ignored
DislikedBEOB failed, cant really think of a reason why this one failed. Anyone took this trade as well?Ignored
DislikedIgnored
DislikedHi,
It stalled where you'd expect - at the top of that box of consolidation (previous resistance becoming support).
Basically, you're trading straight into trouble there.Ignored
QuoteDislikedThe way I would view (just my opinion) is that nothing knocked the trade off - the low of the bar was broken before the high, so the bar is invalidated.
But Mike's answer above sets out why, although it's a pin, it's really just not a very good one. I think a lot of people who use retraces would not have played this one that way.