Took this PBT&CA yesterday. I had a weekly level drawn at 1.5800 which lined up almost bang on with a 38.2 ret on the daily.
Anything can happen.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHi all
Can anyone help rationalise this one?
I've posted a before and after on the 4h and what could be a BEOB on the daily (Yet to close).
I marked out 42.19 as an area to watch for PA in the morning then watched the charts from work. Support turning to resistance, resistance turning to support, price respecting trendlines etc. All good. Then price hits 42.19 (Area I marked) and we have a MASSIVE sell off virtually to the pip! Can anyone explain why? I was expecting price to go short, just not so aggressively.
I was tempted to enter on...Ignored
DislikedNo need to regret staying out.
I rather stay out wishing I was in than being in a trade wishing I was out.
PPIgnored
DislikedShouldn't we let Jim write the 100k post?
C'mon, it's just 52 posts ahead and he seems to be online...
Ignored
DislikedShouldn't we let Jim write the 100k post?
C'mon, it's just 52 posts ahead and he seems to be online...
Ignored
Dislikednot raining on the party but i have a question.
i see a lot of people losing on 4 hour.
I assume that all of you have gone thru the full demo process outlined in post 1?
I also assume that if your on 4 hour you have been doing this a while since to be on 4 hour means you have spent 3 to 6 months trading succesfully on daily.
Bottom line is this.
2011 makes 29 years ive been doing this and i can say with virtual certainty that if you dont follow the outline (or something similar) your going to fail.
I know a lot of you demo 4 hour along...Ignored
DislikedIm getting out of the heat for a week starting tomorrow and heading for my favorite place, Northern New Mexico.
While im gone im sure we will reach 100,000 posts.
I want to say thanks to all that have made this a fun and magical place the last 6 plus years.
Words cannot describe what all of you have meant to me.
I really do love all of you.
See you around 8/15 or so.Ignored
DislikedCan anyone help rationalise this one?
I marked out 42.19 as an area to watch for PA in the morning then watched the charts from work. Support turning to resistance, resistance turning to support, price respecting trendlines etc. All good. Then price hits 42.19 (Area I marked) and we have a MASSIVE sell off virtually to the pip! Can anyone explain why? I was expecting price to go short, just not so aggressively.Ignored
Dislikedgreat question.
maybe the best question.
i never ever ever take a full bar loss. in fact its very rare for me to take anything more than 30 to 50 pips.
i try to position myself with a solid s/r area so i have an intelklegent place to get out if it does as you refer.
its more about location than it is a partricular bar.
jimIgnored
DislikedNo need to regret staying out.
I rather stay out wishing I was in than being in a trade wishing I was out.
PPIgnored
DislikedShouldn't we let Jim write the 100k post?
C'mon, it's just 52 posts ahead and he seems to be online...
Ignored
DislikedBeen thinking the exact same thing! Ha ha glad to see that others are on board. Time to lock the thread at 99,999. Jim can insert his usual words of wisdomIgnored