And there is one more nice divergence with pin bars on AUDNZD, but I think this is a bit risky to trade, because there is a close resistance.
Do you agree?
Do you agree?
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedAnd there is one more nice divergence with pin bars on AUDNZD, but I think this is a bit risky to trade, because there is a close resistance. Do you agree? {image}Ignored
Disliked{quote} thats the intention of my post ... imho selling close to the high was pretty pretty reliable, im sure a swingtrade downwards will develop here. lets c, JonasIgnored
Dislikedbut maybe chf will pull back unless gap down under ,I dont think so tho , poss not against jpy {quote} {image}Ignored
Disliked{quote} One thing I do know about trading is this. Finding setups is easy, but knowing how to enter them and knowing when to exit is insanely difficult (for me anyway). It just feels like if I'd have taken that pin the FTA would've held and price would've reversed and taken me out but it just seems like some people just know which ones to take and I can't work out how y'all do it.Ignored
Disliked{quote} Good strong bars at good strong locations with good strong stories normally have a better chance of blowing past traffic areas as compared to iffy bars in tight sideways markets with lack of confluence and supporting evidence.Ignored
Disliked{quote} These days I am head first into some real R&D projects. I am desperately looking to find a solution to the "soft stop" problem pertaining to exiting my SFP trades only when price closes above the high of a bearish SFP and below the low of a bullish SFP. Implicit divergence is a concept I developed right out of this problem actually. Price would continue to give me the scares by threatening to close beyond the SFP and failing to do so for multiple attempts before it would turn in my favor and I would hang on because I knew this was a case...Ignored
DislikedI think the beauty of Jarroo's methodology is that, if price closes above the or below the swing point of the SFP area, it gives us another oportunity to get in on the pullback as, we are looking for PBT&CA or below. If price closes above the HCR, the SFP high gives us a logical target to aim for. Also, the SFP seems to be single dimensional meaning, if price closes below a bearish SFP we short above a bullish SFP we go long. Whereas, Jims HCR & LCS are multi directional meaning we can go long after a breakthrough and pullback to a HCR or short...Ignored
Disliked{quote} Dan, you are more experienced and you were right, my GBPAUD trade ended in breakeven. How many times I have already seen.....experience=knowledge just like nowIgnored
DislikedMy pending was triggered on Friday, using Jarroo method...nice lcs (tested multiple times) with round number...kind of situations I'm looking for... {image}Ignored
DislikedTrade plan for tonight 1. GBP/USD - Short - HCR @ 1.53560. Previous close at 1.53361. Sell @ 1.53500 on retest 2. AUD/USD - Long - LCS @ 1.03697. Previous close at 1.03819. Buy @ 1.0385 on retest 3. USD/CAD - Short - HCR @ 1.0193. Previous close at 1.0174. Sell @ 1.0190 on retest 4. EUR/CAD - Long - HCR @ 1.3176. Previous close at 1.3215. Buy @ 1.3180 on retest {image} {image} {image} {image}Ignored
Disliked{quote} {quote} Hi Hitten Thanks for posting these questions! And thank you Ghous for your detailed answer I've been thinking about that myself for a few weeks now... It seems I'm stuck at the BE point. sometimes +ve sometimes -ve , never much, but never satisfying either. I strongly believe I am missing something to "click" to go beyond this stage. It seems to me that this question is somehow related to the "what return can get weekly / monthly / daily / hourly ??", which in turn raises the much more interesting question of the strategy...Ignored
QuoteDislikedHi Hitten Thanks for posting these questions! And thank you Ghous for your detailed answer I've been thinking about that myself for a few weeks now... It seems I'm stuck at the BE point. sometimes +ve sometimes -ve , never much, but never satisfying either
QuoteDislikedI strongly believe I am missing something to "click" to go beyond this stage. It seems to me that this question is somehow related to the "what return can get weekly / monthly / daily / hourly ??
QuoteDislikedwhich in turn raises the much more interesting question of the strategy the trade follows to "cut the losses short" and "let the profits run"
DislikedThanks for your answer Ghous, appreciate it. I guess the only way to master this stuff is through trial and error. Also wondering, is win percentage important to you guys? In the past I've always felt that as long as you're RR ration is high it's not important, but I guess the higher your win rate the higher your confidence and you're less likely to hesitate. Have backtested strategies with low win rates and high RR ratios (3:1 RR with a 35-40% win rate) but they're very tough to stick with in real time. A few losses and you start doubting...Ignored
Disliked{quote} Have you looked at the ATR S/L to solve this "soft stop" problem, Ghous? JimIgnored