DislikedFlagging or reversal? Will be looking for bullish PA at 0.86
http://www.hotstockmarket.com/image/...600/height/291Ignored
Hi biDc, which pair is this? i cant see it clearly on your chart.
Thanks
NTW
No more DOH! trades
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedFlagging or reversal? Will be looking for bullish PA at 0.86
http://www.hotstockmarket.com/image/...600/height/291Ignored
DislikedHi biDc, which pair is this? i cant see it clearly on your chart.
Thanks
NTWIgnored
Dislikedwe may need a breather, but I am holding for a move higher still myself too
Best
MikeIgnored
DislikedHey T
Yes over trading is probably most peoples downfall. I always suggested to people to try to give themselves 2-3 bullets a month. If you use them you shut down. Not only will this make you focus on not wasting them, in the times you do , then you have to wait until a new month starts before you can use them again. So if day one of month one occurs and you take 3 trades, irregardless of the outcome you are done till the next month. Most people are trying to take their small accounts and trade it to millions and of course this will just...Ignored
DislikedExcuse my ignorance but didnt the SNB state that it was pegging the swissy to 1.2 Euros therefore its directly linked to however the Euro behaves? so if the EUR/USD goes up, the USD/CHF will drop i.e theres an inverse correlation.
Cheers
NTWIgnored
DislikedI have to say though, that the j16 approach when done right is exactly using supply and demand, at least that's what we are trying to show. This is what I do day in and day out.
Best
MikeIgnored
Dislikedhey mike, my current trading plan is to limit my trades to 3 times / week, and usually I fill that quota no problem, do you think in the currency trading market. 3/ week is too much?
I only trade the daily and h4 charts, I use weekly as a guideline, but i don't use it to set stop-loss or entry, since the pips are just too big.Ignored
DislikedMike
I take your point and fully agree with what you are saying. The only difference I see between the two approaches is that IFY and others are looking for earlier entries rather than waiting on bar confirmations such as pins etc. My own personal opinion is that people try and master all of the J16 basics before moving on to the more advanced stuff. This is what I am trying to do and it seems the most sensible approach IMHO.
KalIgnored
DislikedHi Mike,
Yesterday's daily candle is keeping me away from this one today. Any thoughts on levels marked? On hourly, I am more focused on the horizontal levels than the flag. Thinking I'd let buyers & sellers figure things out here, and let us know after - would be sweet if that aligns with one of the bigger horizontals.Ignored
Dislikedwe may need a breather, but I am holding for a move higher still myself too
Best
MikeIgnored
DislikedI need some help, after spending 1000 of hours learning to trade, i can still not trade consistency. ..Ignored
DislikedMike
Had a laugh at your messin......a good guy with good humour too!!Ignored
Disliked1000hours is an inadequate gauge of experience/consistency.
i think it's different for everyone. some need 10,000 hours, some 100,000hours, or more.
i think it would be better if u look (objectively) at your experience/consistency/performance rather than the hours u've spent.
to be honest, i havent counted how many hours i've spent on trading in the last 3-5years.
i think it's called passion (i actually see trading as a lifelong challenge... & a key to my financial freedom)
[size=3]"Find something u love to do & u'll never have to...Ignored
DislikedHey T
Yep I am watching this flag also.
If we retrace higher we have two points to watch for me. The last swing low, and the BRN(box area is VERY big).
Oh hey my chart shows supply and demand just messing
Best
MikeIgnored
DislikedHey NTW
The euro and usd/chf are notoriously inversely correlated but that doesn't mean they will move exactly the same always. You can have periods where things are tied together closely and periods that they are not. Check out a euro chart overlayed on a swissy chart and it becomes more obvious. I simply trade what I see and work from there, keeps it easier
Best
MikeIgnored