QuoteDislikedHi Tyler are you considering to go short now ? and have the stop at todays high?
Tyler
skype: ststroud. let's talk trading.
Where can I learn more about Price Action like those in James16 charts? 9 replies
QuoteDislikedHi Tyler are you considering to go short now ? and have the stop at todays high?
DislikedYeah, I set a sell stop at yesterday's low, and sl at the high. My order was triggered and now I'm -79 pips. I guess we'll just have to wait and see what happens. I still think it's gonna go down, but I may have jumped in too soon. Oh well, its a learning experience...
TylerIgnored
Dislikedsee my post earlier today; this is a small pb, but I'm still trading the break of it based on the weekly downtrend, and this pb is near the upper trendline on weekly. Just my two cents worth. Don't take this as sound advice; I'm not recommending this trade, as I'm still learning and I still have a long way to go. We will have to wait and see what happens.
TylerIgnored
Dislikedheloo, this is my first on the forum.hope u find the time and patience to attend to my inquiries.i have being reading on james 16 chart thread but dont seems the get the heart of the system.am aware that cos am new to forex its going to take sometime to grow,am willing to learn as i already have my account blown already. my quest for solution brought me to forex factory. wouldbe glad if any can help. read alot about focus on higher time frames like day time frame,4hour and one hour,for stability but i dont know how that would work out for me as am on a mini lot of $100. what would work best for this kind of trader. hope i do not sound boring, just need some good lightthank in anticipation of ur suggetionsvinanebiIgnored
Dislikedheloo, this is my first on the forum.hope u find the time and patience to attend to my inquiries.i have being reading on james 16 chart thread but dont seems the get the heart of the system.am aware that cos am new to forex its going to take sometime to grow,am willing to learn as i already have my account blown already. my quest for solution brought me to forex factory. wouldbe glad if any can help. read alot about focus on higher time frames like day time frame,4hour and one hour,for stability but i dont know how that would work out for me as am on a mini lot of $100. what would work best for this kind of trader. hope i do not sound boring, just need some good lightthank in anticipation of ur suggetionsvinanebiIgnored
DislikedIf I were to trade daily Beob, I'd wait for retracement to about 1.9880/1.9920 before going short. As you already said, we have a Buovb on weekly and price already bounced off of 61 fib. I prefer to see these kind of bars at swing high/low (just like pbs) though. Since I don't know what will happen next, I stay aside. My bias is neutral, however if we see oil loosing ground I will turn US bull.Ignored
DislikedExcellent view.
Trading GBPUSD isn't easy anymore these days
On the monthly, you have a bearish pb that doesn't look like a first grade one but if it played out you may say later:omg why did't I consider that?'. The previous weeks' candle was a bullish outside bar. On the daily we have a beob, however,we also had a bullish setting that played out very nicely on the 4hr.Ignored
Dislikedi have been looking at this thread for a few weeks now and this is 1st time posting, has anybody thought of creating or already created an ea that based on criteria for pin bars only from the vm price action 1.1 indicator with an entry at close of pin bar in opposite direction of the nose with a take profit and stop loss as well as money management by % of acct balance?? I'm not a programmer but this should be looked intoIgnored
DislikedMany have thought of it.
The truth is, you are better off learning to read the price bars without any aids. Just because you see a technically valid pin bar doesn't mean you automatically take it. What's more important is WHERE the pin bar is. That is, how it looks and is positioned relative to the price action surrounding it. An EA with this capability is NOT a simple thing to create.
This goes for all the important price bars taught here. They are all easily definable in code, but coding the most important part of the equation is the major hurdle, ...the discretionary side of it.
Trust me. Taking the time to make all this second nature to you whenever you look at a chart is well worth it.Ignored
DislikedThis goes for all the important price bars taught here. They are all easily definable in code, but coding the most important part of the equation is the major hurdle, ...the discretionary side of it.
Trust me. Taking the time to make all this second nature to you whenever you look at a chart is well worth it.Ignored