Dislikedwith what u have rambled about()..
well then 2nd pin looks better than the 1st Pin..
nice posts G.Ignored
Just a tad bit more to look for when you pick and choose your trades.
g.
I believe . . .
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikedwith what u have rambled about()..
well then 2nd pin looks better than the 1st Pin..
nice posts G.Ignored
DislikedGreat post there Ghous
Very informative and sets the wheels in my mind in motion.
I can see what you are getting at, the fake out before the move in the true direction, taking out SL's and adding to buyers thrust.
Good to get some info on market dynamics.
Actually, while I was not thinking so much about the fake out in the other direction nor bar size, the close of this BUEOB was concerning me, in as much as, it closed below those two consolidation areas.
Thanks again for a great post GhousIgnored
Dislikedi agree with ur post 100%...
but for many others its the location matters and not the shape.
im sure there are.
lets say a Mini-Pin for this example.
Shape:Average.
Location:Lovely.
Bias:Uptrend..
(and bit of timing factor )
these bars are enough for to act as a 'sign' where is price heading or maybe even take a TT here.
just my thoughts.
EDIT:ah, i see you were focusing more on newbies,but still good to have such a discussion no?Ignored
DislikedWhile I trade a system where the fake breakout is all that I need, I am not going on to suggest that a trade setup that doesn't have this feature is nonsense. I am merely pointing towards the importance of something we frequently over look in our trade setups because its just like our other supportive confluence factors only. As you pointed out in your last post in the chart, the second pin bar looked just like the first one but was in a much better location and position in terms of order flow.
g.Ignored
DislikedHi all,
I use Meta trader 4 but am looking for a few websites / free charts that have more pairs.
Any suggestions welcome.
CheersIgnored
DislikedThanks, my broker has loads more pairs but their software is not good so looking for another platform I can study the charts then place my trades with my broker. Actually I look at charts on FXLITEIgnored
DislikedFxpro MT4 is pretty good for this purpose, lots of standard and exotic forex pairs, as well as commodities like Gold, Silver, Oil, NatGas, Corn, Wheat, Soybean, and major stock indexes S&P 500, DOW, Nasdaq, Nikkei.
Freestockcharts.com has a pretty health offering of almost any instrument you can think of, but it is web based (Silverlight).Ignored
DislikedGonna spring board off these posts G. This is a general post to the many new traders that will see it.
I know we may be words on a screen, but I promise you the sincerity we have when we use the above words. It's not to stunt anyone or tell anyone it's the only way. But those that are sitting here continuously struggling you must break this cycle. You must demo. You must treat this as a serious business it is.
PLEASE read post 1
PLEASE read all of James16 posts
Please re-read post 1 and demo demo demo
I have included some charts. I am...Ignored
Your post Steve, got me going, because while you did a great job explaining the merits of the setup, its missing this one very important factor of the low not stretching enough to test the vacant space underneath that range
Disliked***QUOTE***
....The implications of what Mike talks about with respect to good outside bars engulfing a range of bars and good pin bars protruding away from the vicinity of PA are ENORMOUS. They have enough value to help you develop profitable systems around just the very concept.
Your post Steve, got me going, because while you did a great job explaining the merits of the setup, its missing this one very important factor of the low not stretching enough to test the vacant space underneath that range
***---***
[size=4][b]NEWBIES...Ignored
DislikedHey GP,
that is very true, but you need to hang on and make sure all your decisions are based on undisputed rationality. One way to achieve it is to have a written plan/guide that would tell you exactly what you look for in a trade. Pull out some tape and stick it right above your monitor against the wall or somewhere you would look at all the time.
Using your concern as a launch pad and totally on a side note, this problem can also be stretched to day trading, its infact worse there because day trading has this tendency to magnify everything...Ignored
DislikedTell me what you guys think about this PA on the USD/JPY.
I see higher lows being formed and a horizontal resistance at roughly 78.10
A bullish pin bar bounced off the 60 SMA and the higher lows trend line, and price made it to the horizontal resistance.
We saw some retrace, and Friday's daily bar closed at the same level as the pin bar high.
Many times price will retrace to test the pin bar's high before continuing to move.
Would it be valid for me to go long from here, calling this a retrace entry?
Or am I just looking for too many reason...Ignored
DislikedEUCAD
Really nice BUOB off of ppz/BRN
1 and 4H viable BASE entries as well.
edit: keep in mind we recently touched a supply zoneIgnored
DislikedNot so sure I like the H4 as price is still stuck between the 25 & 50 emas and the consolidation area on the left.Ignored