Can someone explain this please. Both are daily. Fxpro and Interbank FX.
Can you see a little difference in price action?
Can you see a little difference in price action?
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedCan someone explain this please. Both are daily. Fxpro and Interbank FX.
Can you see a little difference in price action?Ignored
DislikedHey Adi.....Looks like you opened an IBFX micro account.
Half the data was missing on the one I opened.
If this is just for demo, open a regular IBFX account.
Here is my GBP/AUD IBFX demo chart. There is very little data with this pair, I am showing all the data that exists.
Very little data on this pair for some odd reason. Only 4 monthly candles.Ignored
DislikedHello Pinbar, yours looks different too.. So you mean Micro Account has different price action for a pair than a regular one?
EDIT: I understand candle closes coud be diverse due to different close time. etc. But we have uptrend on one chart and a downtrend on the other chart...Ignored
DislikedAlso, there is a recent post on the PF about the spread changing to 200 pips in news and taking out the SL of a guy, 100 pips above price, with IBFX.Ignored
DislikedSo are we not gambling here? I was following Oanda thread, that broker is one huge disappointment too, lol, great executions only if you manage to log into your platform... what to do? where to open live account? whom can I trust?Ignored
DislikedPrice behaved exactly as anticipated, pulled back to RNB @ 8700, validated the daily DBLHC and is now heading to RNB @ 8800. The following question is now: is the FTA @ 8800 also the final target of the daily DBLHC ? If price respects RNB @ 8800 as resistance then this will also complete the pullback of the weekly BEOB and we might see price take another attempt to break the weekly BEOB. But first lets see how price reacts @ 8800.Ignored
DislikedHi PB, I wondered that myself. I guess it counts as a breakout trade supported by 0.75 and its close above the previous high. On daily there's also a PB predicting the upmove. Maybe Mike can comment on that.Ignored
DislikedThank you Jarroo. The above two statements provides me some clues
When do I look for retracements and when not ?
Currently I am looking for retracements for all the good/great looking bars.
Entering on retracemtn point has following benefits
1) position size can be bigger by keeping the SL on the other side of the bar
2) if PA breaks (assuming it did not break before retacement), addttional pips can be made all the way upto FTA (at least)
3) if it even did not break but at least reached the low/high of the bar (in the direction of the trade),...Ignored
DislikedI agree with your post xmz. But it depends on the quailty of the Outside Bar and how close the traffic is to that OB. Meaning if the OB is at a nice swing High or Low, good size compared to previous bars, supportive confluences, etc., I will take that break to ride on that momentum.
But if the quailty is not the best, but good . .in consolidation or a lot of immediate traffic etc. . I will look for a retrace opportunity.
Much like the Eur/Gbp Daily DBLHC, previous bar High at the .8700.Ignored
DislikedCan someone explain this please. Both are daily. Fxpro and Interbank FX.
Can you see a little difference in price action?Ignored
DislikedYour second chart is actually a GBP/USD daily.
I don't know why it's labled GBP/AUDm... my IBFX doesn't have GBP/AUD listed.
Did you open a regular demo account or a micro one?
JonnyIgnored
DislikedI always favor the Higher time frame setup over the lower time frame setup. The tricky part is evaluating the quality of both setups on each time frame given. . .which one has a better story. If both stories are of high quality, than they both can work out . . meaning they hit they're targets.
The Weekly BEOB is at a swing High, good size, off PPZ level(s), at retracement levels, clear targets . .a good story. The fact that it didn't break hard tells me that the .8700 is very strong and more up movement is very possible . .but remember this is...Ignored
DislikedNice Dan
The good ones will jump out and are worth the wait. I am looking for one last push here myself
Good to see you stop inIgnored
DislikedThere's a funny joke in there somewhere . .lol . . .I would love to see it play out . .Ignored