I like price coming off that former double bottom area, but don't see your 4hr entry if you could post that too.
Best
Mike
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedThose following the boxing
It happens in every market over and over and over. Simple tools yet again prevail
Those of you with 500 indicators on your chart and feel lost. GET RID OF THEM you will feel very liberated.
Best
MikeIgnored
Dislikedmike it can be better than that and more clear charts
what is with all those line upon your chart
get ripped of them
here is mine:
AttachmentIgnored
DislikedSpot on!
That consolidation box down there spoils the show for me.
g.Ignored
DislikedMike, I didn't use the 4hr TF but with the 2 PB's and very close bottoms, it gave me confidence to go in on the daily.Ignored
DislikedThose following the boxing
It happens in every market over and over and over. Simple tools yet again prevail
Those of you with 500 indicators on your chart and feel lost. GET RID OF THEM you will feel very liberated.
Best
MikeIgnored
DislikedAmen to that Mike - My charts used to look like Xmas trees till I discovered naked trading and J16.
I must admit I still use RSI - but more to keep me out of trades than anything else.Ignored
DislikedHey Mike, Mr Fudd Sir,
I recall you mentioned recently that you ignore all reports. As we can see Cable had a BEOB yesterday which gave a great signal short today. Assuming we didn't take the break of the daily low but dropped to either 4hr or 1Hr for a PA, even then the pin bars both occurred well before the NFP.
In your experience would you always take the trade and totally ignore the NFP even though its is often very volatile ?
I took the short after the NFP pullback mainly because I am always wary of reports, but doing so reduced my pips...Ignored
DislikedHey Bill
Yep I will ignore the NFP and trade what I see. I don't drop down like that but it is a valid thing many do. I prefer to keep it on the same timeframeIgnored
DislikedHi Mike, yes it does thank you. Just to wrap up, on the daily what price would your entry order have been on Cable, just to get a feel for the gap you leave under the BEOB.
regards
BillIgnored
DislikedDan's covered most of the necessary points.
Here's a video anyways for any additional help you may need.
http://www.youtube.com/watch?v=AYVaC...layer_embedded
g.Ignored
DislikedGood stuff.
You'll be amazed how these literally 0 risk trades pile up for you at the end of the month/year
I mean was there any doubt where this was going on a break?
I don't get tired watching this...Ignored
DislikedI'm getting tired of my stoic stupidity re these trades. I say to myself: 'I know it's going to move 60 pips, but.......'
Why can't I just omit that last word?
When you KNOW it's going to move 60 pips that way, go with it.
I'm fed up of knowing what's going to happen and doing nothing about it.
This is my next daemon to exorcise.
Thanks for driving the point home GhousIgnored
Dislikedbuob at ppz on gbp/aud. but already late in the day.
any comments appreciated.Ignored