Short: EUR/USD, GBP/USD, AUD/USD
Long: USD/CHF
If you have, at what price you closed them (if you don't mind)?
I notice that the pairs that you short/long are against daily trend. Do you pay attention to daily when you trade on hourly? Thanks
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedThat's great.
My goal is to detect entries that don't need huge stops, just like you did. In a few weeks/months I probably will (wishful thinking).
Can you post the chart that triggered your entry? Was it H4, H1 based?
Thanks.Ignored
Dislikedhi sorry for the delay i have got to answer quickly but if you count back 10 bars on the chart Dale posted that was my entry and it was not j16 related which is why i didnt post at the time.( i cant post charts from oanda right now)
jonIgnored
DislikedHi Rac, have you closed your hourly trades below?
Short: EUR/USD, GBP/USD, AUD/USD
Long: USD/CHF
If you have, at what price you closed them (if you don't mind)?Ignored
QuoteDislikedI notice that the pairs that you short/long are against daily trend. Do you pay attention to daily when you trade on hourly? Thanks
Disliked
I would like to ask, in terms of price exhaustion around a major PPZ, when do you decide that the price has truly exhausted and the level would hold?Ignored
QuoteDislikedYou mentioned to have a tight stop but sometimes there is a break of the level of about 50 pips and then the trade reversed to move as expected. 50 pips should not be considered 'tight', am i right?
QuoteDislikedAlong the same line, when do you decide that a level would not hold, and that breakout is imminent?
DislikedYou watch what the price is doing. When you watch the cross for years, you will know with great probability, when it's close to exhaustion, no guarantees though. 20-30 is tight for me. You will always have some small losses along the way but when you catch the runner.....
Let me quote someone with more experience
"you learn the game by playing the game"
The longer you play, the clearer it gets. I don't have any other explanation ..Ignored
DislikedI closed them at exact time, I posted here as price was approaching lows from intraday low swings, and no I haven't reversed.
I trade both ways, depending what price is doing. Daily is good to watch to spot confluence, s/r and pa.Ignored
Disliked... Do you apply same method in trading higher TF? Care to post some charts? THanks a LotIgnored
DislikedI've already posted hundreds of them here..
happy trading, plenty of good action today..Ignored
DislikedSorry Rac, just get too excited. Yesterday and today see a lot of action and using your method, I can see many entry point down to exact pip. Kaboom time.
PS: I have actually read all your recent posts. Still trying to read all of them thoughIgnored
DislikedHi Folks,
I just wanted to give an update on my USDCAD trade I took on last night. The set-up was DBHLC @ 1.0425 which was a 38.2 fib retracement of the BUB of the set-up.
Yesterday, benji533 cautioned me on this trade advising I was looking to trade into heavy resistance. benji533 was planning to short if price were to hit the PPZ at around 1.0675. As it turned out, price never retraced to my planed entry and has since broke through the high of the DBHLC formation. As such, I have cancelled my order as the risk is not worth the potential reward....Ignored