Took half off and am at BE.
Don't want to get stopped out for a loss waiting 2 pips and a new candle to go to BE.
Don't want to get stopped out for a loss waiting 2 pips and a new candle to go to BE.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedI saw this setup on H4 & H1, the H4 candle has 12 mins left before it closes.
I think going down to M15 may possibly just confuse matters.
I entered at the pullback of the next candle on H1.
This could just be people who were long taking profits off the table.
I might add that as it is Friday, I took this on my demo account.Ignored
DislikedRac-man meanig raczekfx? He would go for a touch trade wouldn't he? Touch trades are a no-go zone for me, at least for now. I still have to develop that specific feeling for price, call it intuition or whatever. Raczek amazed me with his trades to the point of disbelief.
Anyway I've created a chart with possible PPZ for a kaboom scenario. The upward move would first be dampened by a congestion zone (blue-greyish zone).
The first serious PPZ would be the 1.2437 level. Price has obeyed that level both as support and resistance. The 200 EMA is...Ignored
DislikedTook half off and am at BE.
Don't want to get stopped out for a loss waiting 2 pips and a new candle to go to BE.Ignored
Dislikedpb, i think you sholudl have reached your FTA already. Good job!
** ok, did not see your earlier post. You already managed it accordingly. Congrats!!Ignored
DislikedMany thanks...
Yes, I am hoping the 1.4680 area will hold and save my SL.
Now, it doesn't matter what it does.
Funny, I always have the MM in place before I make a trade or even before Jarroo, Mike & Bundy & others taught me to see the setups.Ignored
DislikedHi Pinbar
would appreciate if you could provide EA you use on your charts
top right angle: price
bottom right angle: mkt time
many thanks
ciao
AndreaIgnored
DislikedThey are not an EA but indicators.
One is price, one is spread and the other the market time.
Here you go.Ignored
DislikedPb . .that's great . .looks like you have been paying attention.
(say . . I would like to see the 1.4680 . . . instead of . . hope to see . . .
trust me, there is a difference. )Ignored
DislikedThanks Jarroo, I had a good teacher.
Even though this is demo & I can't bank any actual pips, I can bank something perhaps better, Experience.
I don't want to demo any different than I will trade my actual live account.Ignored
DislikedAbsolutlely Pb.
Now this was on the Hourly we shouldn't be trading on this time frame, Daily and Weekly remember (good thing Mike or James16 isn't around).
But can you imagine if this was on the Daily. You could almost add a zero to the pip count. But the main point of this Hourly setup was how it stood out amoung the rest. Funny how we were just talking about it on the Nzd. lolIgnored
DislikedI think you saw it coming, and nudged me psychically. LoL
But, yes, that was the point, you guys were teaching me this and some of it got through my thick skull.
I now know what a swing high & low is....Weird, this swing high & low thing seems so simple compared to other aspects of trading yet, I could not see them.
Price was just like some uncontrollable beast going where it will, it still is uncontrollable of course. Maybe now, I can see where it wants to go a little better.Ignored
DislikedIts a classis Rac (Raczek) setup. . . Support turning into Resistance (or a PPZ level), 61.8 fib, trendline confluence . . this is the KABoom setup.Ignored
QuoteDislikedThe fact that it didn't go Kaboom could be telling, meaning that there might be something else going on. . . .time and patience will tell for sure but i like its odds for going down.
DislikedI'm digesting this thread in compiled format which is much easier (thank you Cyrus!). When it comes to Raczek I only skimmed his input, but got the impression that he enters when the 'kaboom' wanes off (looking for j16 setups) and setting his TP at the retest of the 'broken' confluence.
Yes, patience... Another indecision doji is forming on 4h.
To be honest I'd prefer the bearish PA scenario more. It would definitely play nicely with the downtrend we're experiencing from the start of the year. Anyway I'm prepared (chartwise) for the...Ignored