For those who trade stocks.. Visa broke 80 .. possible retracement trade..
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedFor those who trade stocks.. Visa broke 80 .. possible retracement trade..Ignored
Dislikedwell price is very much respecting this South Channel. this time its also RN 1.3300 so i am planning to go short on brack of this Inside Bar with a tight SL and potentially a huge TP. what you guys think of this???????Ignored
DislikedI think Gold is a terrible example of how Full Bar Losses wil happen sometimes. It will trigger and immediately reverse. Buffer of any size will not help, one may have 10 pip buffer and price will trigger by 11...
I did not take this trade, but technically it really fits to all the requirements, and there was a tiny room for price to go to (WIPG) - where it obviously did not go.
So full bar losses will happen, and if you have 0.1 - 0.2% R wins, how do you expect to stay in profit over long term? You will need 90% just to breakeven? ...Ignored
DislikedI think Gold is a terrible example of how Full Bar Losses wil happen sometimes. It will trigger and immediately reverse. Buffer of any size will not help, one may have 10 pip buffer and price will trigger by 11...
I did not take this trade, but technically it really fits to all the requirements, and there was a tiny room for price to go to (WIPG) - where it obviously did not go.
So full bar losses will happen, and if you have 0.1 - 0.2% R wins, how do you expect to stay in profit over long term? You will need 90% just to breakeven? ...Ignored
DislikedSure. I'm a Tech Trader that Rides all that News Release stuff with thoughts of IF Better then... & If Worse ... Then... But for me... It's a Grid.
It's Math. I don't believe the Big Boys are playing Sentiment. They are playing Building Blocks.
Let me grab that graphic again...
I'll be backIgnored
DislikedI think Gold is a terrible example of how Full Bar Losses wil happen sometimes. It will trigger and immediately reverse. Buffer of any size will not help, one may have 10 pip buffer and price will trigger by 11...
I did not take this trade, but technically it really fits to all the requirements, and there was a tiny room for price to go to (WIPG) - where it obviously did not go.
So full bar losses will happen, and if you have 0.1 - 0.2% R wins, how do you expect to stay in profit over long term? You will need 90% just to breakeven? ...Ignored
DislikedHey Adi
I didn't trade this cause of the awesome new US laws
But I still don't think my trade would trigger since the most logical entry would be just under the near rd number of 1580. But that doesn't even matter b/c lets say it did. Why would one take a full bar loss? price had intially retraced up to the minor PPZ, so if that area doesn't hold why take a full bar loss.
I marked it on the 1hr since it was a daily bar you can't see that now but would have seen it at the time.
Again this is my approach to trading because you are right bars...Ignored
Dislikedhey Adi, its too early to tell yet no??? a full bar stop would still be in play...
jonIgnored
Dislikedhey Adi, its too early to tell yet no??? a full bar stop would still be in play...
jon
EDIT: maybe this will lighten your mood??
check out the 15min BEOB. i watched this break in real time so it is not just after the fact...i little better than 1:1 eh!?....Ignored
DislikedJon, I'm sorry for the way I am... but if we imagine that it was in real time and we took it, we would never really have anything even close to 1R, 0.4R is the best here. That is if we do not have a RULE to have a TP at FiXED R% or some fixed S/R away from price.
Realistically this was 0.3-0.4% trade (if all buffer and stop behind bar is considered). My thoughts on the chart.Ignored
Dislikedhey Adi, the first short line is the same area as i marked, maybe i could have put it a little lower, but i dont get your second line at all?? to me it has no significance what so ever apart from the TL?? to say most would close there is not correct, and that is not my opinion this time i know so mate.
my thoughts on this where a good possible entry for the break of the lower TL so i would certainly be in after the price you marked as the break of that TL is what i was lookin to achieve. i personally let my trades have a chance to...Ignored
Dislikedwow!! imho this is not a place to close the trade, it is a place to watch and be aware of. it is these places that we can hide out stops behind when price breaks through them. i love these levels...
jonIgnored
Dislikedlol....i also took this small demo trade to show an example in real time....
small pin at top of bearish channel with divergence. 1601 RN confluence
now at BE
not lookin to get out at the lower TL, looking for a break of it...
jonIgnored
QuoteDislikedHmm why not, those 2 swing highs are dangerous really. Many methods (and here in J16 too) look to place a touch trade on those levels....
Dislikedplease don't take me wrong, but with live trade imho you would have exited there... if of course you don't have some strict rules for holding a trade and view RR as meaningless....Ignored
Dislikedthe first box i had marked but sorry mate the second means nothing to me, maybe im missing something??
jonIgnored