Hi All,
Posting charts for first time in this thread.
Took three trades. All good.
BUT WAS I LUCKY OR DID I DO IT RIGHT?
Posting charts for first time in this thread.
Took three trades. All good.
BUT WAS I LUCKY OR DID I DO IT RIGHT?
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHi All,
Posting charts for first time in this thread.
Took three trades. All good.
BUT WAS I LUCKY OR DID I DO IT RIGHT?Ignored
DislikedHey Zamfir
Welcome to the thread
Looks good, just be careful of a few things. Watch taking too many trades at once. They are usually going to be correlated and can lead to compounding your losses fast(just as your wins too). Just something to be aware and track. These look like all trades were taken about the same time.
I put some comments on the nzd/usd chart for you but they apply to all 3 charts too. Let me know if it is confusing after viewing my chart and video
Welcome again
MikeIgnored
DislikedWhat i understand from Traffic and space is , if there is less traffic to left of PA , we have a good chance that price will move and if there is more traffic, even though a trade might work, but not might move as much.
One possible reason being , not many orders set at that level by big boys. Hence the price has room to move.
At traffic or congestion, lots of buy/sell orders . Hence price find it hard to move and gets boxed. Once the buyer or sellers overtake , then we see price moving sharply, which is nothing but a breakout.Ignored
DislikedI have just come across this thread, and already have Jim's business plan rules tacked up next to my computer. I have recently sworn off indicators, after (I guess predictably) results that have left me wanting and have begun the journey of adopting a more pure price action methodology.
I'm only a few pages into the thread, but I have a couple of questions pertaining to the double high lower close setup.
1- Does the "lower close" mean that the price closes lower than than the previous bar, or simply below the high?
2- For a breakout...Ignored
DislikedAUD/USD is forming a nice bearish pinbar right at BNR and resistance of 1.04.
What do you guys think?
http://img856.imageshack.us/img856/4386/audusda.png
Uploaded with ImageShack.usIgnored
DislikedThat would be Oanda's Daily feed. Their bar closes at midnight NY time. This will make their daily feed look very different then most(who use closer to the 5pm close)
Best
MikeIgnored
DislikedWhat should I do in this case? Are the signals not reliable, since they are quite a bit different from everyone else?Ignored
DislikedWhat should I do in this case? Are the signals not reliable, since they are quite a bit different from everyone else?Ignored