Dislikednice confluenced area(you can throw a bunch of fibs up there too if you like)
Go back to my posts on boxing too to fully understand and look at how they are still working and we can use them for future areas to watch as wellIgnored
Regards
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikednice confluenced area(you can throw a bunch of fibs up there too if you like)
Go back to my posts on boxing too to fully understand and look at how they are still working and we can use them for future areas to watch as wellIgnored
Dislikedlittle hint from my side :
dont burn money breaking burnouts...this is one of the most difficult things in trading. Better wait for a close below and sell the retest in this case, youll do much better.
Kindest regards,
JonasIgnored
DislikedHi Yehuda,
I was looking at this for a small 20 pip scalp in the least but since the H4 PB didnt close below 1.3, I let it pass.
Best,
-HIgnored
DislikedHas anyone played breakout on USDJPY (or maybe going to do so)?
I'm very interested how should it look like... i can't see PA confirmation (any pinbars etc) so far but for sure price broke out of tight channel...
so was there already good moment to take the trade or maybe we should wait for example to retest ~79.65 and going down again?
and when it goes back to 79.65 - should we wait on any important PA formation or just take it when it bounce down again?
RegardsIgnored
DislikedYes ,but bullish D1 candle Vs Weekly bearish set up ,I think only one winner in endIgnored
Dislikedthe H1 pin was the one to play. Tricky area though so easy to pass if you dont like it.Ignored
DislikedAgreed but I missed that one. But I took the 4H anyway one the H1 closed below 1.3 Took the 20 pips closed majority position and SL to BE. Kinda liked it because the pin itself was off the TL and 150 EMA. Cant say if this was a high probability trade though. Although EC is very bearish sentiment so I took the gamble.
-H
edit: Oops thats the wrong chart. The PB wont show here as its a UK broker.Ignored
DislikedSo true. I hate breakout trading so i always look to either build a cushion from lower TF early entry or play the retest. Much easier.Ignored
DislikedWould you give me a chart example of this approach? Im struggling with it.Ignored
DislikedHey C
The answer for me is both. Sometimes it might be more than the other. But also your PPZs(albeit very minor ones on both charts) are both correct too.
I think it's important to remember PPZs range from HUGE ones, to very very tiny ones. And knowing their place in both the execution and management is very important. I generally say(I hate general statements BUT) use the major ones for finding trades(with other confluence of course) and focus on the smaller ones for trade mgmt. I see people trading all PPZs(again not sure what your trades...Ignored
Dislikedlittle hint from my side :
dont burn money breaking burnouts...this is one of the most difficult things in trading. Better wait for a close below and sell the retest in this case, youll do much better.
Kindest regards,
JonasIgnored
DislikedAgreed but I missed that one. But I took the 4H anyway one the H1 closed below 1.3 Took the 20 pips closed majority position and SL to BE. Kinda liked it because the pin itself was off the TL and 150 EMA. Cant say if this was a high probability trade though. Although EC is very bearish sentiment so I took the gamble.
-H
edit: Oops thats the wrong chart. The PB wont show here as its a UK broker.
edit: Good God just realized I had foolishly pit my SL to 1.3052 instead of BE at 1.3002...Ignored
DislikedThat was gutsy given the all important long term lows you were trading directly into.
But you made my day with that splendid piece of trade management. Knowing that it was a risky trade and the smartest thing to do was to cut down on risk asap - master stroke brother.
g.Ignored
DislikedWell todays EURCAD is a good one. Personally speaking (and this is not really strict J16 stuff, although we are all linked) i have begun to look for areas to enter before breakouts occur. Price patterns and suchlike. I posted a superb one one AUDCHF, twice i think. Both worked great even though they were near RN's etc and had no J16 entry method about them.
The EURCAD may not break hard but the H1 pin (and other more precise methods best left to other threads) could give us the cushion to be in a good position to play the breakout.
The line i...Ignored
DislikedThank you mate. Learning from the best after all. Have found your blog very useful as well. Cleared out a lot of thinks I was struggling to understand. I recommend it to all new comers who want an example of how to mesh j16 stuff with a self customized strategy. Awesome stuff....
Haven't seen you very active around here since a few days.. Good to have you back.
Best,
-HIgnored
DislikedHey Beelbolbod,
What you outlined in your post regarding wanting to trade breakouts before they occur, is at best a very very aggressive strategy. One of the fundamental rules of trading is to trade what you see and not what you foresee. Most good traders will only entertain their anticipations up to the point of developing biases off them but systematizing them is like starting to bet on mere "hopes" for the markets to do a certain thing before they show sure signs of doing it (a pattern in the making is not a sure sign). The...Ignored