here you go tiki
from my watch list
from my watch list
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedAre you watching for a break of the low?
I know this is an evil question, but do you see more than 300 pips wiggle room once it breaks?Ignored
Dislikedyes I am watching a break low
and i see infinite pips wiggle room
confirmed break low and I am in, a break of 228.50 resumes the bulls from my chartsIgnored
DislikedI am from the school of trailing stops(cut ur losers, ride the winners). Most of my trade mgmt is like this. In the PF I have a thread dedicated to this that blew up b/c of just the reason you speak of. Depending on the timeframe I trade, is the type of exit strategy I use. For example when i trade the 4hr, I almost always use a 2/3 bar count(much like using the previous day, but instead I count back 2 bars from the last closed bar). There is more too it, but that is the basics, and it works. This insures a pair is at least still trending in my favor. If we fail to make higher highs and higher lows in an uptrend the bar count will stop you out. Vice versa in a downtrend. It is a bit much to go into detail but maybe this will spark some ideas for you.
MikeIgnored
[IMG]file:///C:/Program%20Files/Interbank%20FX%20Trader%204/templates/eurusd1120.gif[/IMG]Chart attached
Dislikedmike, thanks.
another q.. when you have setups like pin bars, beovb,buovb, dbhlc,dblhc etc.. do you treat all setups the same with the same kind of sl/tp? or would you rate, say pin bars, as strongest, and then have a different way of setting sls and tps for the setups?
thksIgnored
Dislikedthis trade was posted a few pages ago here is an update on it, looking good. IBIgnored
DislikedHey Matt,
you have drawn your fibs from right to left. It's always from the left of the chart to the right.
By the way could you explain your entries? I am still new myself so I dont see why you have two entries in the middle of a bar.
ChrisIgnored
DislikedSo I see this pretty Pin bar sitting on the top of the EURUSD 4h chart (IBFX feed.) I get ready to set my sell stop, TP, SL and sit back and collect the pips. Then, I look closer and decide maybe this is not easy pips and not an A or better trade. Is my analysis sound for a conservative newbish trader.
- Pin is against the trend
- Looks like possible resistance at 1.4736 giving only 24 pips and a 50ish pip sl
- No other confluence to my untrained eyes.
[IMG]file:///C:/Program%20Files/Interbank%20FX%20Trader%204/templates/eurusd1120.gif[/IMG]Chart attached
Ignored
DislikedThere a two ok PA-setups I have on my daily charts today.
Both are in the direction of the longer term trend. EURAUD has a pinbar off resistance but it is not a beautiful one
Both setups are backed up by fibonacci levels
What do you guys think?
ChrisIgnored
Disliked
My EURCHF is about to close as a BUOB off of channel support(not buying this pair).Ignored