as that mighty man jarro once said.
"A quality set up is almost always a high momentum set up? (or something like that) lol
"A quality set up is almost always a high momentum set up? (or something like that) lol
Attached Image (click to enlarge)
james16 Chart Thread
- #82,123
- Dec 10, 2010 4:09am Dec 10, 2010 4:09am
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
as that mighty man jarro once said.
"A quality set up is almost always a high momentum set up? (or something like that) lol
Super
- #82,124
- Dec 10, 2010 4:12am Dec 10, 2010 4:12am
- | Commercial User | Joined Feb 2005 | 2,875 Posts
just by a hair. i liked where it was at.
jim
jim
oh wow, you bought it before that PB formed? like touch trade or something? I don't do those yet.
Super
- #82,125
- Edited 4:42am Dec 10, 2010 4:15am | Edited 4:42am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
as that mighty man jarro once said.
"A quality set up is almost always a high momentum set up? (or something like that) lol
lol . .that quote was inspired from somewhere . .big guy.
Will the 1.5823 hold (on your chart) . .?
Indicators show the past. Price Action "Indicates" the future.
- #82,126
- Dec 10, 2010 4:15am Dec 10, 2010 4:15am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
LoL. Im already in this trade.I decided not to wait since yesterday 'the closes' on EJ deprived me of a nice entry.
Will see what will happen.
Attachment Attachment
And if this current H4 bar closes above the PPZ, what will you do?
This is why I wanted to see a nice bearish bar close below that area off of the TL.
- #82,127
- Dec 10, 2010 4:19am Dec 10, 2010 4:19am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #82,129
- Dec 10, 2010 4:21am Dec 10, 2010 4:21am
- | Commercial User | Joined Feb 2005 | 2,875 Posts
im holding stop behind trendline on this one. some off the table.
jim
jim
lol . .that quote was imspired from somewhere . .big guy.
Will the 1.5823 hold (on your chart) . .?
- #82,130
- Dec 10, 2010 4:24am Dec 10, 2010 4:24am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
im holding stop behind trendline on this one. some off the table.
jim
Looking for the trendline to hold, I see.
no close below the 1.5823 ..
Indicators show the past. Price Action "Indicates" the future.
- #82,135
- Dec 10, 2010 4:31am Dec 10, 2010 4:31am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Looking for the trendline to hold, I see.
no close below the 1.5823 ..
Indicators show the past. Price Action "Indicates" the future.
- #82,137
- Dec 10, 2010 4:35am Dec 10, 2010 4:35am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
Hi guys
Tring to approach this as J16 suggests and focus on weekly/daily just now while learning the PA way. Just thought i would ask this question while some of the thread gurus are on at same time : if you see a setup on weekly but the stop is a couple of hundred pips(or more) then how do you manage this in terms of your stop loss? Is the idea to go down to lower Tf and look for an entry to reduce stop size?
thanks,
Kal
Kal,,,,,Yeah, I think you get the idea but, if you are only trading the weekly and the daily, the daily is the lowest TF you can go down to.
Some people even go down to H1 but, I think for us, it is best to take the trade on the TF we see it on and manage it on that TF.
Hard to do, I know.
Hope this helps.
Just helping out while Jarroo and the Big Guy are dancing on that M15 trade!!
Not to be tried at home by us newbies.
- #82,138
- Dec 10, 2010 4:42am Dec 10, 2010 4:42am
Kal,,,,,Yeah, I think you get the idea but, if you are only trading the weekly and the daily, the daily is the lowest TF you can go down to.
Some people even go down to H1 but, I think for us, it is best to take the trade on the TF we see it on and manage it on that TF.
Hard to do, I know.
Hope this helps.
Just helping out while Jarroo and the Big Guy are dancing on that M15 trade!!
Not to be tried at home by us newbies.
Thanks for your input - some great setups occur on the weeklies but the stops sizes can be huge(pips). Not an easy thing to handle in the early days. Still as the seniors say get the large TFs down first before you move on to the lower stuff. Definitely the way to go. You seem to be doing well - keep it up and you will be one of the seniors soon!
kal
- #82,139
- Dec 10, 2010 4:43am Dec 10, 2010 4:43am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
james nice one.
I'm just curious did you made this trade in anticipation of some running stops above yesterday high?
And also it was a supply level there on 15 min(I know that time isn't relevant but just to make my thoughts clear).
Did you make you decision on the way price behave on that level?
...
yes PA.
a supply level on M15 is miniscule compared to higher timeframe demand level (1.5700 - 1.5750 area).... just like/in other words, higher TF S/R are more important than lower TF S/R.
also see his earlier post.
1.5700 PPZ. if this pivot is really strong, then PA will move further away from it. let's see