Pin bar is of low quality but we have a ton of confluence
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- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
That sucker has been winding up for some time now.
The squeeze is on . .
How refreshing to hear Jarroo use such terminology as, "That Sucker".
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
This doesn't look too bad. . . 
...
g.
...g.
I believe . . .
This doesn't look too bad. . .
g.
Lets say we took this trade based on the fact that we have a nice PB (not the best of places), trading in direction of trend, possible H& S reversal pattern, resistance turning into support and the RN 2.12000.
How would you enter this trade & how would you manage it??
This what I would do:
- place a buy order at the break of the PB
- take some off at FTA of 2.14
- take some more off at 2.1500 (possibly BE at this point)
- if momentum is good and I decide to play it aggressively wait for 2.1600 prior to BE. at this point I will let this remaining small exposure that I have run till it gets exhausted or hit my stop at BE
With regard to my stop loss I would initially place it under 2.12. At FTA I would move it below the left eye. Finally I would BE.
what do you think of my exit and entry strategy??
Harry
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Hi Ghous,
Lets say we took this trade based on the fact that we have a nice PB (not the best of places), trading in direction of trend, possible H& S reversal pattern, resistance turning into support and the RN 2.12000.
How would you enter this trade & how would you manage it??
This what I would do:
- place a buy order at the break of the PB
- take some off at FTA of 2.14
- take some more off at 2.1500 (possibly BE at this point)
- if momentum is good and I decide to play it aggressively wait for 2.1600 prior to BE. at this point I will let...
g.
I believe . . .
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
I am interested in learning more about Price action and J16.
Is it best to read the thread from the beginning while at the same time keep up with whats happening on the last page? Theres close to 6000 pages that's allot to read!!!
Where to start?
1. check those Seniors Summaries, posted by Cyrus (I think). Search for it.
2. Pick the traders whos trading appoach you like the most and follow all their posts and attachments - man this would really fasten your learning curve.
3. Download all James16 attachements (charts) - they are easy to understand as he puts his notes right on the chart.
4. Focus on Mike's charts, they are also easy to understand provided you are familiar with what he is looking on the charts, so read as much of his posts as you can, then go through all his charts and those triangles, trendlines, levels will slowely begin to make sense.
5. Try to study each subject separately. Like for example PPZ - I will choose Jarroo or Mike (Mike is easier at the beginning trust me), for space I will choose Ghous, where is FTA - I would go with Ghous too (he talks a lot about them, also see his videos) all breakouts choose Mike. I will stay away from Touch Trades for now, too hard really.
That is the way I do it, so please don't criticize me too much if you think this way is not the way, it really works for me to study this huge thread in this way!
- Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts
french bank bnp is in a sideways market since april 2009.
a break of the 60 euro may result in a (positive) explosion.
a break of the 60 euro may result in a (positive) explosion.
meine augen sind die sterne