DislikedLets if we could get some Bearish PA here. (Just Closed My longs)
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A BOUB would be nice.......
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedLets if we could get some Bearish PA here. (Just Closed My longs)
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DislikedI know this thread is not a signal service, so I'm just going to say two things right now.
1. EURUSD
2. buy-limit
that is allIgnored
DislikedLive account touch trade, 1.5% risk.
My S/L is at breakeven right now. Basically the yellow trendline was the key to my trade. Initial S/L is marked by red horizontal dotted line. PPZ is highlighted with blue box, trouble areas are marked by dark blue horizontal lines. I withstood some drawdown when the trade was triggered, but it ain't a thangIgnored
DislikedHey Skin
These are tough here, where your 61.8 is lines up with the first trouble area(that is why I am referencing that line)....Ignored
DislikedHey Skin. Id say that he safe money has already been made in that trade. The price did exactly what we would expect. It broke the pin, went to the first area of support and retraced back. You can wait and hope for the price to go down here and it just might but that's not how we do it.
K.I.S.S.Ignored
DislikedIgnored
DislikedTook half of @ 1.5085 for a 2% gain and moved SL up to 1.5030 on the other half...with TP set @ 1.5200 will move stop loss up to 1.5085 if we get to 1.5125Ignored
DislikedIt is an advanced entry without any PA...price did not close below the 1.5000 area - that was very important, if it did then yes I would not have initiated a long and would have been looking at a breakout and pullback opportunity to go short.
I entered when it broke down and then retraced and closed above the 1.5000 area...it is higher risk because there is not PA to confirm the entry, but it is about knowing how to read your charts...I study the USD crosses quite closely and you get to learn how they move. The fact that it was retracing hard...Ignored
DislikedIf we break 1.5217 we should head on up without too much trouble to 1.5340 area which coincides with the 1.382 ext from last weeks range. I think that 1.5700 will be a very acheivable target from there. After last nights shake out I am more comfortable buying GU.
K.I.S.S.Ignored
Dislikedlove the chart, KISS
Taking in consideration how the weekly chart look,those 2 weeks of strong rejection was a clear signal that the short term move on the daily chart it would reverse.
Going down to the 4h chart we could take the opportunity to reduce the risk by taking the BUOB which engulf several last candles. This BUOB was developed afeter a rejection off of big psychological number 1.5, aligned perfectly with 50-61.8 fib from the last swings points.
Don't forget that this big round number have the tendency to cluster big orders increasing...Ignored
Dislikedlove the chart, KISS
Taking in consideration how the weekly chart look,those 2 weeks of strong rejection was a clear signal that the short term move on the daily chart it would reverse.
Going down to the 4h chart we could take the opportunity to reduce the risk by taking the BUOB which engulf several last candles. This BUOB was developed afeter a rejection off of big psychological number 1.5, aligned perfectly with 50-61.8 fib from the last swings points.
Don't forget that this big round number have the tendency to cluster big orders increasing...Ignored
DislikedLike a noob that I thought I wasn't, I got stopped out at 1.4990 from my weekly trade... Thought that BRN and 61.8% fib would have been enough for stopping the downmove dead-on, but the bears got a final push..
Oh well, food for thought, one demo loss that goes under the belt, into the jurnal and into the experience column.
Oh, and James updated the first post.. Just saw it.Ignored
DislikedAll the move you have taken in is reasoned.
After the break of the weekly PB you would expected price to go further up but instead it cause a huge sell of.There where triggered...Ignored
DislikedI placed it under BRN and 61.8% percent of last swing high-low. I mixed daily with weekly, and I guess I shouldn't of have.
Thanks for the info, I'm here to learn and do it for the long term.Ignored