If you want you can post some charts with your PPZ. So we can discuss them and help you with this task.
Hans
EDIT: Also have a look at my chart and try to spot PA (incl. 2day PA)
Thanks J16, Sam Seiden, Udine and Jacko
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedShould I just let it ride overnight and hope that it hasn't hit my FTA and then gone back into drawdown by the time I wake up? Should I set my take-profit for the FTA, and then remove the take-profit and manage as usual if it hasn't been hit by the time I wake up? Does it depend from trade to trade on the strength of the signal?Ignored
DislikedIs this trade still going to work out? Since i took this PA on 4h, should i be looking at 4h chart only for trade management? With 150 and 365 emas, are they valid on all TF?Ignored
DislikedTook this H4 trend continuation trade/triangle break long
Previous pattern was a DBLHC ,close below .75 BRN.
The DBH closed above the .75BRN ,PPZ, at 61.8% Fib and the Triangle.
Major Trend Is upwards
.7515 Entry
.7475 SL
.7539 TP
Any Critic appreciated
Cheers
DIgnored
DislikedHi relyt,
If you prefer, there are EA's out there that can manage your position while you are asleep. You can define when to move your stop to BE or a predefined price. I would keep it as simple as possible, but a "move to BE" EA sure does help me sleep better at night.
Most of the time, my trades do better when I'm asleep because I don't micro-manage every move.
Hope this helps.
-- DannyIgnored
DislikedThanks, Danny.
My broker is Oanda. Do you know if I can use EAs with them? Every EA I've ever seen has been for MetaTrader, but I'm a newb, so I honestly have no clue what I'm talking about with respect to EAs.Ignored
DislikedI don't know if this trade will work out, but the odds of it failing are higher because you took a long at a swing high. Why is this important? Because your FTA was close... and price is likely to get rejected at or near this area.
I would definitely stick to the timeframe you took the trade in. Going to lower timeframes only confuses things.
I don't use EMA's, so can't comment on that.
Hope this helps,
-- DannyIgnored
DislikedAllright well thanks for that! I'll take a look at more of these and will read the entire tread.. So see you guys in this end of the thread in a couple of years, unless I have a question or two
Yes I thought it was a tweezers. But if it isn't very frequent then I'll not put very much time in it.. Does this thread cover allot about trading price action with pullbacks/retracements before entering the tread? Because I think I need to start focusing on that part, I get faked out like 90% on all of my trades.Ignored
DislikedI don't believe you can use an EA with Oanda... EA's are specific to the Metatrader platform.
-- DannyIgnored
DislikedHi Hans,
Thanks for your reply
I tried to plot some more PPZ on your chart. Please correct me if i am wrong.
If you don't mind, next time when you post chart - i might jump in and ask a question or two regarding your PPZ or setup. That would help me immensely as i will be able to learn to follow your thought process
God Bless,Ignored
DislikedHey Carnegie
Welcome to the thread
They signify a temporary support/resistance(lows/highs). But can then be played as a continuation when that support/resistance fails. I like when you have multiple bar highs/lows
http://www.forexfactory.com/showthre...06#post3836606
http://www.forexfactory.com/showthre...02#post3838802
I like to take things to the extreme with a lot of things
MikeIgnored
DislikedUsually I look for a pullback entry to some keylevel after the PA pattern closes to get a more optimal entry, in the Ozzie trade though the PB closed only 10 pips above the RNB @ 9700 (which would be my keylevel to watch for) so there isn't much to gain here, in that case entry on the break of the PB. The mentioned tripple bar is also a DBLHC, this adds somewhat more strenght to its bullishness. I didn't quite understand your remark about this tripple bar, could you rephrase that.Ignored
DislikedThanks for the welcoming, Mike!
When these two kinds of support/resistance bar happen, they scare me.
Let me tell you why.. It's because of many times they have had two consecutive lows after eachother, so I thought I'd put a sell order UNDER the two lows. So if it breaks, it will go far down correct?
What the market does instead is break the low, make me a profit of 5-10 pips and then reverse up again and make a PINBAR! Do you see what I mean? I think it's called stophunting.
It has happened to me sooo many times now that I don't dare to put...Ignored
Dislikedwas just about to say that Ghous
really like ur charts Danny, the simplicity of how u portray it is very easy on the eyes...Ignored
DislikedI don't know if this trade will work out, but the odds of it failing are higher because you took a long at a swing high. Why is this important? Because your FTA was close...Ignored