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Price Action Trading (PAT) - Amplifying Market Insights
- #2,081
- Feb 5, 2024 3:07am Feb 5, 2024 3:07am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
- #2,083
- Feb 5, 2024 4:52am Feb 5, 2024 4:52am
- Joined Jan 2019 | Status: Trader | 1,189 Posts
GU H4
Possible set up
Possible set up
- #2,085
- Feb 5, 2024 10:11am Feb 5, 2024 10:11am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
{quote} hi Pat, I have somehow learn abit of your entry ideas, but I am curious to know how do u determined your profit target? I will only target profit set at 2029 for this instance
Okay, imagine the market like a wave.
Sometimes it's a big, powerful wave pushing prices one way, that's an impulse phase.
Here, you can ride the wave and aim for bigger profits because it's likely to keep going.
But other times, it's like a smaller wave that kind of hesitates or even goes a bit the other way, that's a corrective phase.
In these choppy waters, it's better to grab smaller profits more often, like taking little bites out of a sandwich instead of trying to gobble it whole.
Now, those are just the basics.
There are other ways to figure out when to cash out, like:
Trailing stop-loss: This is like a safety net that automatically sells your stuff if the price goes against you, like a robot bodyguard for your profits.
Support and resistance: Think of these like walls the price bounces off of. You can sell near a "resistance wall" where the price might hit a ceiling, or buy near a "support wall" where it might find some floor.
Divergence signals: Imagine the price going up but some indicator like the RSI is going down, that's a mismatch!
It might be a sign things are gonna change, so you might wanna get out.
Time limits: You can say, "I'm holding this for X days, no matter what!"
This can help with discipline and avoid getting caught up in the emotions of the market.
Candle patterns: These are like little shapes on the price chart that some traders use to predict where things might go, kind of like reading tea leaves in the market.
High Impact news: If CB has bad news, you might wanna take out your positin before the price drops, kind of like selling your umbrella before a storm.
Remember, there's no magic formula for taking profits.
The best way is to mix and match these ideas and find what works for you, based on your risk tolerance and how you like to trade. Just stay cautious, the market can be unpredictable, so always be careful not to lose your shirt!
Trade Save
PAT
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- #2,086
- Feb 5, 2024 10:34am Feb 5, 2024 10:34am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
GOLD
Corrective move up to OB before continuing down
Corrective move up to OB before continuing down
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- #2,087
- Feb 5, 2024 11:07am Feb 5, 2024 11:07am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
{quote} GU Long N3 for pullbakc, for now. We will see what price may want to offer when it reach those level . Counting this as Wave A {image}
Trade was stopped out.
Current Price Action set up for another short run till Wave "E"
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- #2,088
- Feb 5, 2024 11:26am Feb 5, 2024 11:26am
{quote} Hello Zeiferz, Okay, imagine the market like a wave. Sometimes it's a big, powerful wave pushing prices one way, that's an impulse phase. Here, you can ride the wave and aim for bigger profits because it's likely to keep going. But other times, it's like a smaller wave that kind of hesitates or even goes a bit the other way, that's a corrective phase. In these choppy waters, it's better to grab smaller profits more often, like taking little bites out of a sandwich instead of trying to gobble it whole. Now, those are just the basics. There...
much appreciated.
- #2,089
- Feb 6, 2024 7:11am Feb 6, 2024 7:11am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
GOLD Corrective move up to OB before continuing down {image} {image}
Heads up!
Looks like your gold position is nearing the end of a pullback or retracement, which means it's about to get bumpy before continuing its downward trend.
Here's the lowdown:
Gold's been dropping, but took a breather.
This pullback/retracement is like a small wave against the bigger downtrend.
Almost done with the break.
We're nearing the end of this pause, around the 50% Fibonacci level.
Think of it as a marker showing how far the pullback might go.
Get ready for the drop to resume.
Once past this level, gold is likely to keep heading down as predicted.
Now, what can you do?
Hold on tight if you're betting on the downtrend.
If you believe gold will keep dropping, you can wait it out and potentially see bigger profits later.
Consider taking profits if you're nervous.
The pullback might be a sign of a bigger change, so locking in some gains now might be wise.
Think about your risk tolerance.
How much are you comfortable losing? If the pullback seems shaky, taking profits early might be safer.
Remember, the market is unpredictable, so always trade carefully and don't risk more than you can afford to lose.
Good luck!
Pat Chiko
I come from the future.
Karen X Mas Bonus 2025 All Time Profit:
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- #2,090
- Feb 6, 2024 8:15am Feb 6, 2024 8:15am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
{quote} GU Trade was stopped out. Current Price Action set up for another short run till Wave "E" {image}
{quote} I don't know about Ferna but after that last 1hr bullish engulf of last 2 close and p/back, we got the bullish exp tri on 5min and a good point 5 bullish engulf close trigger. 5min below {image}
Headland,
Cheerio!
Just had a gander at GU's chart, and it seems there's still a bit of kerfuffle brewing.
Reckon it might not be done filling that Fair Value Gap (FVG) just yet, y'know, hoovering up all that tasty liquidity before forming a right proper ABC pattern. So, rather than jumping the gun, I reckon we should sit tight and wait for the whole shebang to play out before taking a punt,
What do you say, guv?
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- #2,091
- Feb 6, 2024 8:48am Feb 6, 2024 8:48am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
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- #2,092
- Feb 6, 2024 9:00am Feb 6, 2024 9:00am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
{quote} GOLD Heads up! Looks like your gold position is nearing the end of a pullback or retracement, which means it's about to get bumpy before continuing its downward trend. Here's the lowdown: Gold's been dropping, but took a breather. This pullback/retracement is like a small wave against the bigger downtrend. Almost done with the break. We're nearing the end of this pause, around the 50% Fibonacci level. Think of it as a marker showing how far the pullback might go. Get ready for the drop to resume. Once past this level, gold is likely to keep...
GOLD
Target TP.
Right then, mate!
Hold your horses on that short just yet.
While a short setup sounds promising, keep an eye on that Order Block (OB) above.
It could still act as a magnet for buyers.
Instead of rushing in blind, let's wait for some proper price action to confirm our suspicions.
If the market throws a clear short signal, then we can jump in with both boots.
Otherwise, better to sit tight and avoid getting caught wrong-footed.
Remember, patience is a virtue, especially in this choppy market.
Safe trading,
Pat Chiko
I come from the future.
Karen X Mas Bonus 2025 All Time Profit:
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- #2,093
- Feb 6, 2024 12:17pm Feb 6, 2024 12:17pm
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
{quote} {quote} GU Headland, Cheerio! Just had a gander at GU's chart, and it seems there's still a bit of kerfuffle brewing. Reckon it might not be done filling that Fair Value Gap (FVG) just yet, y'know, hoovering up all that tasty liquidity before forming a right proper ABC pattern. So, rather than jumping the gun, I reckon we should sit tight and wait for the whole shebang to play out before taking a punt, What do you say, guv?
GU
Revision short set up
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- #2,094
- Feb 6, 2024 5:07pm Feb 6, 2024 5:07pm
- | Commercial User | Joined Jul 2021 | 3,279 Posts
My telegram: https://t.me/avidforex
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- Feb 6, 2024 5:12pm Feb 6, 2024 5:12pm
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My telegram: https://t.me/avidforex
- #2,096
- Feb 7, 2024 8:58am Feb 7, 2024 8:58am
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{quote} GU Revision short set up {image}
Update set up
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- #2,097
- Feb 7, 2024 9:06am Feb 7, 2024 9:06am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
{quote} GOLD Target TP. Right then, mate! Hold your horses on that short just yet. While a short setup sounds promising, keep an eye on that Order Block (OB) above. It could still act as a magnet for buyers. Instead of rushing in blind, let's wait for some proper price action to confirm our suspicions. If the market throws a clear short signal, then we can jump in with both boots. Otherwise, better to sit tight and avoid getting caught wrong-footed. Remember, patience is a virtue, especially in this choppy market. Safe trading, Pat Chiko{image}
RSF set up on H4
Trades on H1 with structure break
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- #2,098
- Feb 7, 2024 9:34am Feb 7, 2024 9:34am
- | Joined Dec 2008 | Status: MMA Pro Wrestler | 17,549 Posts
{quote} GU Update set up {image}
12640 is the resistance area.
Falling to crack above it. PA is bullish look for a short opportunity should we stay below 126 tonight
Hi Bro,
Sounds like you've spotted a cracking setup, mate!
I agree, the price seems to be taking a breather to gather some more buying power before another push upwards.
Here's what I see:
The one-hour chart shows a break: Looks like yesterday's high was cracked and then retested, suggesting a shift in momentum.
Four-hour chart's at a key zone: We're hitting a Support-Resistance area, so a pullback before continuing upwards wouldn't be surprising.
Minor retracement or continuation soon: Either way, we could see some movement later today or tomorrow.
Good call on keeping an eye on things and being ready to adjust analysis if needed.
Remember, the market's a right bobby dazzler, so flexibility is key!
Best of luck with your trades, guv'nor!
I come from the future.
Karen X Mas Bonus 2025 All Time Profit:
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{quote} {quote} GU Hi Bro, Sounds like you've spotted a cracking setup, mate! I agree, the price seems to be taking a breather to gather some more buying power before another push upwards. Here's what I see: The one-hour chart shows a break: Looks like yesterday's high was cracked and then retested, suggesting a shift in momentum. Four-hour chart's at a key zone: We're hitting a Support-Resistance area, so a pullback before continuing upwards wouldn't be surprising. Minor retracement or continuation soon: Either way, we could see some movement later...
It's interesting how they held GU on that level
- #2,100
- Feb 8, 2024 2:03am Feb 8, 2024 2:03am
- Joined Jan 2016 | Status: Trader | 5,200 Posts
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