Anyone tempted by this one?
In my opinion, probably safe for a quick hitter to that grey zone, but no BRN = No trade for me
In my opinion, probably safe for a quick hitter to that grey zone, but no BRN = No trade for me
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedPretty glad I was sleeping when this one showed up as it would have given me a headache.
1 Hour Pinbar with divergence at the big 0.7000
But not a massive bar compared to that recent onslaught of the USD against most pairs
Probably would have passed.. especially as it occured in the Asian session;Ignored
Dislikedi think another analogy is a car moving at a certain speed:
if u step into the gas pedal, the car moves fast(er) {in (bearish) divergence, this is the price first high/lower high; indicator lower high}
if u remove your feet from the pedal, the car still moves/moves fast, but not as fast as when your feet was on the pedal {in (bearish) divergence, this is the price 2nd high/higher high; indicator lower high}Ignored
DislikedHello all,
I was recommended to this thread by Geofract. There's certainly a lot to take in. I have recently got into PA after years wasted on the smaller TF's. It's good to find like minded traders looking for the same set ups. I look forward to sharing some ideas with you all in the coming weeks and months.
Ignored
DislikedNice analogy SC!
I visualize Hidden Divergence as being a similar thing;
1) Price (the car) makes an initial high, for a given amount of gas (the MACD reading)
2) Price Retraces
3) Price makes another attempt at a new high using even more gas (higher MACD reading) but FAILS to make a new high
Eventually gas runs out, and the price/car rolls down the hill
(Image from Babypips)Ignored
DislikedLet's go over the setup itself. The 1.7400 is not a Big (or Bold) Round Number, just a RN. Not saying that RNs aren't important, they are especailly on this pair. BRNs are the .7500, .7000. .8000, .6500, etc.
The PB's size is a bit small, but showed a good rejection near not at the .7400. Meaning if the PB was bigger and showed a break up and through and then down the .7400 then now we're talking nice. But it was PB at swing High and worked out nicely to its targets. PA is a powerful thing.
The traffic on the setup,...Ignored
DislikedRe USDCHF
I was watching that as a possible entry as it seems in a sideways channel, however my chart doesn't close the 4h bar until 14:00. Are there different feeds and does this make a difference. Clearly my feed would hade kept me out the trade as we no longer have a potential pin bar.Ignored
DislikedHey Chelski
Feeds like a 4hr, or daily are going to have different bars based on the brokers closing. Since forex is a 24/7 market there are no centralized feeds and thus we will get different aggregation of the bars. The simple approach is to play it as you see it with your broker.
Best
MikeIgnored
DislikedThanks, it seems looking at your charts some of us have the same open / closes.Ignored
DislikedI just opened an account with IBFX. Can someone explain to me how to close half of your position? Thanks.Ignored
DislikedHey Spookie
The only way to do it is either open your position in pieces and set separate take profit/stop losses
or if you go to the terminal and right clock your order then click close order and then go to the volume box and select the amount you want to close
Best
MikeIgnored