DislikedWhat would your stop loss be in this situation were you enter on the break would you stop loss be 30-40 pips or a full bar loss ?Ignored
Indicators show the past. Price Action "Indicates" the future.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedWhat would your stop loss be in this situation were you enter on the break would you stop loss be 30-40 pips or a full bar loss ?Ignored
DislikedHi Jarroo. What do you think of GJ. Does this have a rac look to you?
Trendline, RN 132, PPZ, 50 retrace confluence. Touch of trendline at 132 and price likely to move south?
Also 61.8 fib near 132 from most recent swing high.Ignored
DislikedAre asking on a High quality, A++ setup situation? I will usuaully give more leeway to the stop loss placement. But if it breaks hard and hits my targets I'll move to break even or reduce my risk. I never take a full bar loss.Ignored
DislikedHey Lee
We always want to wait for a break to confirm the continuation.Ignored
DislikedI understand you never take a full bar loss but do you ever take a full risk loss?
Do you ever leave your initial stop until it eventually gets hit?
Thanks
NosIgnored
DislikedSure I'll take a full risk loss . .just this week I was looking to take another long from the 1.4050 for the 3rd time when . .Boom . .I was out for a 20 pip loss.Ignored
DislikedI see. Although this is a different trading approach (no PA confirmation, I guess)
Putting it in a slightly different way, do you ever set your initial SL above/below the PA bar, despite trailing it after the trade is triggered?Ignored
DislikedNo, I usually don't put my S/l above or below a given High quality setup, probably more in line with how James16 trades PA. Looking for that high momentum push.
Now I will place my stop above or below a Outsifde bar when I take a retracement entry, previous bar high or low . .does that count?
I will use the stop loss placement that ghous recommends on IPBs.Ignored
DislikedI think I got the general picture of your strategy.
Thanks again for you time.
NosIgnored
DislikedSorry to butt in guys, just wanted an opinion on a a pin i took. (Purple arrow)
I took it because it had confluence; with the 1.40000, a 50% fib and strong PPZ providing support. My stop loss was just below the 1.4 mark and the 1st take profit area was the high of the last bar. Here, the plan was to move SL to break even and take 50% of the position off.
Price fell shy of the TP by 10 pips then took out my stop. Now since i always take partial profit, the full value loss cancelled out my last 3 successful trades.
So i guess my question...Ignored
DislikedSorry to butt in guys, just wanted an opinion on a a pin i took. (Purple arrow)
I took it because it had confluence; with the 1.40000, a 50% fib and strong PPZ providing support. My stop loss was just below the 1.4 mark and the 1st take profit area was the high of the last bar. Here, the plan was to move SL to break even and take 50% of the position off.
Price fell shy of the TP by 10 pips then took out my stop. Now since i always take partial profit, the full value loss cancelled out my last 3 successful trades.
So i guess my question...Ignored
DislikedHi Dcart.
I think your PB actually hit the FTA and did what was expected of it.
Maybe a look at the H4 will show you the area more clearly.Ignored
DislikedI agree Pb, the PB hit where we would expect it would.
I think your zoomed out Daily chart shows this level more clearly than your 4 hour chart. As you may know, the true targets are best seen on the same TF that the setup was presented on.Ignored