james16 Chart Thread
Often, I will see say, a bearish or bullish PB, I think Johny is lost once said, he would have liked to see it pullback further maybe to a RN or a fibo.
Perhaps that is what I saw previously.
Got to run.
It's a bit of both. And I've been slack for a while, so here is a wall of text.
When people say stuff like 'TA shows all the news', they are oversimplifying it a bit (usually because either they are busy or they are just repeating something they read which was dumbed down to begin with by certain authors who should stick to crayons, but I digress).
A more accurate way of putting it is that price (and therefore PA) shows the market's discounted value of all known information. Those bits in italics are the important parts....
Price gapped below RNB @ 16300, triggered a sell at a small pullback to 16300.
First things first, We are inside a Range box. So i'd like to have my PA bar at edges i.e 1.4160 or 1.3686.
Second if not at edges than i'd like to have my PA at good confluence zones. 1.4000 is good location for a confluence trade with PA, inside the range.
Now i'd pass both of those PB's. First one is on a PPZ but close was not good enough. Second one a good close and is on a TL but no PPZ and size is not good enough for me.
Third,..... there is no divergence.
Hope it helps.
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Hello traders, anyone here trades with Oanda?
Looking at their demo I don't see any weekly/monthly charts - so they are not supported there?
Feed is different from FxPro to which I used...
Are they any good if they support intraday charts only?
EDIT: Just got an answer form their support team. They don't support it. Haha redicoulous!!! I heard so many positives comments all fake I guess...
Can someone please suggest some broker? Where I can use our RR% to the best? I want to start very very small... kind of demo but with live touch to it. Thanks
Can someone please suggest some broker? Where I can use our RR% to the best? I want to start very very small... kind of demo but with live touch to it. Thanks
Monthly Usd/Chf PB. . .target hit!
Due to a rate hike by RBA G-A took out the RNB's @ 16200/16100, price is currently finding resistance @ 16100. I've banked 190 pips on my remaining position and moved my SL towards 16110, if price gets to 16000 I'll also close my remaning position. Usually I'am looking for trades on the 1H-TF and in most cases I catch 20 to 80 pips per winning trade or lose 30 pips max. Jarroo then suggested to switch to a higher TF for a three digit profit. This time I've cought a big fish, nearly 100 pips on my first 1/2 and up till now 190 on my second 1/2 .....
