I know that this is not much help, but I think that I'm going to stick with my old fall back position of......staying out. I'm going to wait and see....
RSQ
RSQ
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikedmb said it well but i will add this. price action analysis is not a system its a method to determine near term price movement. if you practice and get good at identifying the very best set ups you certainly can trade with nothing else but combining them with simple support and resistance and other tools can help refine entries. i challenge all of you to open a demo account just for trading good price set ups blindly. if you can get to where you can build an account with nothing on your chart but price with no other supporting tools what do you think will happen when you do add them. its about refining and targeting the best possible entry. if you can get good at it with nothing but price on your chart the rest is easy.Ignored
DislikedHope everyone didn't indulge in too much bar action over the weekend
Here's something I saw:
Even though Gold seems to be trundling at the moment, there was a bona fide NZDUSD setup at a fib and wave target confluence, which I naturally saw 40 pips too late this morning
Shoulda gone over my charts better last night...
Anyway, this one may or not end up great, but it IS a superb r/r setup as it may be the end of an ABC correction or something that now continues in trend up(zoom out, you'll see it...). well, maybe we'll retrace
My experience is that price comes back at least once to the pins high to visit the grandchildren one last time....Ignored
DislikedHope everyone didn't indulge in too much bar action over the weekend
Here's something I saw:
Even though Gold seems to be trundling at the moment, there was a bona fide NZDUSD setup at a fib and wave target confluence, which I naturally saw 40 pips too late this morning
Shoulda gone over my charts better last night...
Anyway, this one may or not end up great, but it IS a superb r/r setup as it may be the end of an ABC correction or something that now continues in trend up(zoom out, you'll see it...). well, maybe we'll retrace
My experience is that price comes back at least once to the pins high to visit the grandchildren one last time....Ignored
DislikedMate are you sure that didn't get close to your fib on Friday casue that when I felt the pain... I was long 0.6850 but got stopped out friday at .6780Ignored
Dislikedmb said it well but i will add this. price action analysis is not a system its a method to determine near term price movement. if you practice and get good at identifying the very best set ups you certainly can trade with nothing else but combining them with simple support and resistance and other tools can help refine entries. i challenge all of you to open a demo account just for trading good price set ups blindly. if you can get to where you can build an account with nothing on your chart but price with no other supporting tools what do you think will happen when you do add them. its about refining and targeting the best possible entry. if you can get good at it with nothing but price on your chart the rest is easy.Ignored
DislikedOkay, I will take up the gauntlet kind sir !
What weapon should I use - the 15minute or daily chart?
Ignored
DislikedFacing a big moral dilemma here....I'm in a very well working EJ short, but we've just begun hitting on s/r and EJ has made over 130 pips today, a bit over it's average in the last few days....
If I exit and we don't much bounce, I miss a chance of moving on, if I stay in and we bounce severely around here, most of the trade disappears...
This is what makes it so hard for me to stay in trades for a long time, know what I mean?
Mike, this is what we've talked about......I see EURUSD and cable pins, I see overextended daily range, s/r, targets.....
My mind is melting
I'm still holding on until I see something big saying we're done here, but still....arg!Ignored
DislikedWent short on cable this morning with the retrace of the weekly pin bar - anyone else short on this one?Ignored