Will trail the remaining lots out until T2. I'm looking for price to close strongly above 1.3500. It should then act as support.
-- Danny
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedIt broke but this is a good example why itīs so hard to be picky imo.. This had a risk, not worth taking. But then itīs works and it can make you think that youīre too picky etc. But this is a maraton like we know.. Hope my trading maraton ends a bit better than my maraton last summer!
Hope you have a good dayIgnored
DislikedHey Dave
It's a decent pinbar at a swing high, not much in way of confluence. As for FTAs we really want to pick the very first areas so I would go with 1240 as the very first with the bar high(especially coming into a strong trend), with the more logical BRN of 1200 being the more obvious area(or at least pretty logical to me)Ignored
DislikedHey Nuc
I think this is a fantastic trade. Notice the false breakout above that entire boxed range, and price closing well below it and a break of the PB is a break of a nice wedge too.
I think that is a recipe for a successful trade
This is where the story becomes so important. To the new PA trader they see pinbar in traffic. Which is good they see that cause most of the time it would be. But when we peel the layers on this we see VERY larger bar and everything above.
Thanks for sharing
MikeIgnored
DislikedI believe your present is on the way to you, it will take another 15 minutes before it arrives to you .....Ignored
DislikedHey Nuc
I think this is a fantastic trade. Notice the false breakout above that entire boxed range, and price closing well below it and a break of the PB is a break of a nice wedge too.
I think that is a recipe for a successful trade
This is where the story becomes so important. To the new PA trader they see pinbar in traffic. Which is good they see that cause most of the time it would be. But when we peel the layers on this we see VERY larger bar and everything above.
Thanks for sharing
MikeIgnored
DislikedT1 hit. 2nd half is at BE.
Will trail the remaining lots out until T2. I'm looking for price to close strongly above 1.3500. It should then act as support.
-- DannyIgnored
DislikedHi Bluetrader
Hope you do not mind the question, at or where did you enter the trade.
Thanks
GrahameIgnored
DislikedHey Grahame, how's it going.
I entered on Monday after price retraced the BUOB to a PPZ I highlighted. See this post:
Hope this makes sense.
-- DannyIgnored
DislikedThanks for your answer Danny, is the PPZ you highlighted the green dashed line ?Ignored
Dislikeds/r rules
its all chart time, before u know it ull be seeing things really clearly
hardwork paysIgnored
DislikedHey Grahame, how's it going.
I entered on Monday after price retraced the BUOB to a PPZ I highlighted. See this post:
Hope this makes sense.
-- DannyIgnored
Dislikedwhy did you choose EUR/CHF instead of EUR/AUD or EUR/CAD which both had BEOB?Ignored
DislikedIt broke but this is a good example why itīs so hard to be picky imo.. This had a risk, not worth taking. But then itīs works and it can make you think that youīre too picky etc. But this is a maraton like we know.. Hope my trading maraton ends a bit better than my maraton last summer!
Hope you have a good dayIgnored
DislikedHey Os,
EUR/CAD was an easy pass because of the weak close on my feed. It had a lot of things going for it, but the close is very important to me. (EDIT: This was not a BUOB because the low was higher than the previous bar's low.)
EUR/AUD was a great looking bar, however the trouble areas above gave this trade limited potential.
Neither have technically failed, so they can both go up... however the drawdown on them has been undesirable to say the least.
Hope this helps,
-- DannyIgnored
DislikedJust want to say thanks squeeze----I always enjoy the simplicity of your charts -----please keep em' charts coming!Ignored