Dislikedwhy are we worried so much about AUDUSD open ? if i remember correctly we enter the pin only on breaking its hi/lo. where did you place yr order ? mine is at pin high + buffer and is still there.
am i missing something ?Ignored
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikedwhy are we worried so much about AUDUSD open ? if i remember correctly we enter the pin only on breaking its hi/lo. where did you place yr order ? mine is at pin high + buffer and is still there.
am i missing something ?Ignored
DislikedI think, as long as today's open is NOT below the close of pin bar, the pin bar will remain valid according to J16 method.Ignored
Dislikeda pinbar is valid once it breaks. So in that case when the high breaks then the pinbar is now validated
A bar setup becomes invalidated when it breaks the other way. So in this case if the low of the pin was taken out.
Best
MikeIgnored
DislikedMike, none of the happened yet. Neither it broke upside not it broke downside. (FXDD).
So the pin is neither valid nor invalid at this point.Ignored
DislikedI too cancelled the AUD/USD order. The gap is making me feel uncomfortable. If bullish bars occur later on maybe on 4-H, I might give a try. What a bad start for the week..Ignored
DislikedI guess this is a good example how one mans trash is another mans treasure. I wento long the AUD/USd around 8870ish, mainly because in my experience gaps are often filled. I figured with a nice tight stop at the bottom of the pin, my position size is a little larger and if the pin is validated thats a bonus. Obviously more agressive, but definitely possible.
Also, just wanted to say thanks to everyone on this board...James16, MBQ, jaroo, Mike W, Ghous...etc. You guys have really made a difference in my life and trading. I couldn't have asked...Ignored
Dislikedwhy are we worried so much about AUDUSD open ? if i remember correctly we enter the pin only on breaking its hi/lo. where did you place yr order ? mine is at pin high + buffer and is still there.
am i missing something ?Ignored
Dislikedthanks cp, mike for the clarifications on the pin.
one more question, i have seen some ppl enter on retrace. so does it mean it should first break the pin and then retrace for entry ? entering at a discount price without pin break is invalid (discount price is same as expected retracement price without a break). i understand sometimes we may not get a retracement.Ignored
DislikedI wento long the AUD/USd around 8870ish, mainly because in my experience gaps are often filled. I figured with a nice tight stop at the bottom of the pin, my position size is a little larger and if the pin is validated thats a bonus. Obviously more agressive, but definitely possible.Ignored
DislikedNever ever try this friend, don't pull the trigger until the bar is broken. I have lost a lot trying to do this. I used to have one order sitting at the break of the pin. And when price opened without breaking it, I would set up similar orders with smaller size, hoping that when price starts go up, I would have a very nice MM. Sometimes it does happen, but when it doesn't, it really hurts. The feeling of not maintaining a trade discipline is really really bad.
And remember, if you lose one, you will need to win two more to get to your target...Ignored
DislikedI too cancelled the AUD/USD order. The gap is making me feel uncomfortable. If bullish bars occur later on maybe on 4-H, I might give a try. What a bad start for the week..Ignored
DislikedNever say never. Unless you haven't tested. Then i would say never trade a strategy. testing is so so so important. mainly for psychological reasons. If you aren't confident in your strategy it is very difficult to succeed. So I will say to you and everyone else. If you don't trust the PA then don't trade it.Ignored
DislikedI'm not sure why your week is starting bad, you just pulled an order because it didn't go according to plan, you did what 95% of traders don't do, you showed discipline.
Sincerely
Consilium.Ignored
DislikedNo i understand what you mean and i respect it. It shows you are being disciplined. That is one of the hardest parts. I just want you to know that you don't need to be mad about canceling an order. because you still may get your shot andf if not you will live to trade another day. As far as I'm concern that is a successful decision you made. I just wanted to point out mainly because I find it interesting how we can all have different strategies and still be successful in this business. So just keep workin at it and stay positive.Ignored
DislikedThanks jpa. Right now, I am watchin the pair in hour-4. I might enter it later on. Yeah, being positive is the key..Ignored
DislikedAll the PBs are a bit too small in size which is scary and they all are running into traffic. The traffic wouldn't concern me if their size was bigger . . .its all about Space (and location of course) as Mike would say.
If I had to choose one it would be the Aud/Usd PB, it has good supportive levels the .8850 and .8900 with a clear target, .9000.Ignored
DislikedNever ever try this friend, don't pull the trigger until the bar is broken. I have lost a lot trying to do this. I used to have one order sitting at the break of the pin. And when price opened without breaking it, I would set up similar orders with smaller size, hoping that when price starts go up, I would have a very nice MM. Sometimes it does happen, but when it doesn't, it really hurts. The feeling of not maintaining a trade discipline is really really bad.
And remember, if you lose one, you will need to win two more to get to your target...Ignored