Was messing around with this chart last night, woke up to this:
might be on to something....
might be on to something....
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedWas messing around with this chart last night, woke up to this:
might be on to something....Ignored
Dislikedhey I was eyeing off this cad jpy aswell.
I agree, perhaps the pin couldve closed further into the previous candles body but it is longest and cleanest pin I have seen for a while.
may have to manage this one tightly seems a few potential trouble spots are lurking not to far awayIgnored
Dislikedon this weeks market action on the 5min... Please see attached chart.Ignored
DislikedRikrok and Supermatt,
You guys still in this? How did/are you managing it? Today's pullback was a bit frustrating, but got out near current high of the day an hour ago. (No, I didn't have a crystal ball, just had my target set at 2R, with initial risk 1/2 of bar height.)
Finally a winner on a daily trade. Only 5 trades on daily/weekly since 8/1/09... 2L, 2b/e, 1W. Could we be starting some trending markets in more pairs now?...maybe.
- Patience. Perseverance. Commit to my goals.
JoshIgnored
DislikedErrr QUESTION (Hands up)
What is the Break and What is the trigger?
Thought the trigger point was the break?
Or after typing this sentence a thought came to my mind,
Trigger = 5 - 10 pips below the break for a sell
Is it?Ignored
DislikedI'm not Jarroo (but I play him on tv)
I assume he means that the trigger is the low/high of the actual bar that triggered the trade, whereas the break is the entry point of the trade. Meaning that depending on your buffer when price turns around to retest, it is retesting the low/high of the trigger bar. Price doesn't care about where your entry is, but the high/low of the trigger can act as an SR level. Which is why it can be a good idea to nestle your stop a little behind break even.
Hope that helps,
AaronIgnored
DislikedWas messing around with this chart last night, woke up to this:
might be on to something....Ignored
Dislikedjust playing some racman retraces, lightbulbs are starting to come on. Scary how well they work.....now just need to figure out a good S/L method and I'll be in business.Ignored
Disliked
PA of solid PPZ and fibs confl and lift off...?
And so on, and so....
Ignored
Dislikedhehe
People just mean the lightbulbs coming on in their heads that they are beginning to understand things better
MikeIgnored
DislikedRikrok and Supermatt,
You guys still in this? How did/are you managing it? Today's pullback was a bit frustrating, but got out near current high of the day an hour ago. (No, I didn't have a crystal ball, just had my target set at 2R, with initial risk 1/2 of bar height.)
Finally a winner on a daily trade. Only 5 trades on daily/weekly since 8/1/09... 2L, 2b/e, 1W. Could we be starting some trending markets in more pairs now?...maybe.
- Patience. Perseverance. Commit to my goals.
JoshIgnored