Have been very busy with my Futures trading. Not been trading FOREX much.
AUDCHF - BE and target set.
AUDCHF - BE and target set.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHave been very busy with my Futures trading. Not been trading FOREX much. AUDCHF - BE and target set. {image}Ignored
Disliked{quote} Hi zamfir, could you please add more info about your interesting trade ? which pattern are you trading ? How you setup SL and TP ? ( if I correctly undestood you move your SL to BreakEven correct ? where was placed the original SL?) thanks a lot XamIgnored
Disliked{quote} Hey Bat It's a bit more of an advanced setup for multiple reasons. Firstly it starts with the BEOB being at a swing low. But it's a VERY large beob that has a lot going for it . If we trade a break of the bar(and for me only a break) you are trading a break under a major and minor PPZ. The major PPZ is the larger red area, and a minor ppz but larger box is the purple area. With such a strong beob it offers us a lot of protection and places where price is likely to turn into resistance. Now this trade had a lot of interesting advanced concepts...Ignored
Disliked{quote} Dear Mike, im curious how have you reacted to today's spike of GBPCHF up to 1.5185? did you exit or still holding? thanks.Ignored
DislikedXamarass and FXBat, My trading style is quite simple actually. But to get to this point it has taken me a long hard 3 years. Setups are now plenty and trading a/c is on the positive. People here worry a lot of how the pattern looks and shape and size. While pattern is important as a trigger , more important is the location on Higher timeframe. Now there is many ways to trade S/R. Pretty much every swing high/low, round nos can act as S/Rs and depending on the sentiment the patterns are formed and not the other way around. But you must focus on higher...Ignored
Disliked{quote} Hey Bat I got taken out for a reduced loss. I still think were going to close cause the gap is still open. But at this point I lose my reference places to reduce my risk and that can be tough to stomach. But i'm always trying to take as small losses as possible as it really keeps you in the game. I bet it will trickle on down now though Here is my final chart {image} Here was a much simpler trade(mgmt wise) I also closed out of today. Equities have been much more deseriable on my end the last 3 months then FX. {image}Ignored
Disliked{quote} I ccompletely agree with you. Weekly charts are the best to place support and resistances zones. And indicators simple don't work. But i think 1:1 or 1:2 risk / reward isn't very good. I think at least 1:3 risk /reward. But there are also other money management strategy that can produce nice results. Like grid hedging. It can be very powerful strategy if used correctly. I am making some experiences with it in a demo account and i have nice results so far. Unfortunately this strategy can easily destroy your account if not used correctly.Ignored
Disliked{quote} Like grid hedging. It can be very powerful strategy if used correctly. I am making some experiences with it in a demo account and i have nice results so far. Unfortunately this strategy can easily destroy your account if not used correctly.Ignored
Disliked{quote} Hey Bat I got taken out for a reduced loss. I still think were going to close cause the gap is still open. But at this point I lose my reference places to reduce my risk and that can be tough to stomach. But i'm always trying to take as small losses as possible as it really keeps you in the game. I bet it will trickle on down now though Here is my final chart {image} Here was a much simpler trade(mgmt wise) I also closed out of today. Equities have been much more deseriable on my end the last 3 months then FX. {image}Ignored
DislikedXamarass and FXBat, My trading style is quite simple actually. But to get to this point it has taken me a long hard 3 years. Setups are now plenty and trading a/c is on the positive. People here worry a lot of how the pattern looks and shape and size. While pattern is important as a trigger , more important is the location on Higher timeframe. Now there is many ways to trade S/R. Pretty much every swing high/low, round nos can act as S/Rs and depending on the sentiment the patterns are formed and not the other way around. But you must focus on higher...Ignored
Disliked{quote} Hey Mike, nice one! Indicies gave us some good opportunities last days. I already closed 2/3 on ES, the rest still going with sl high above the BE. Same situation was on YM. (Demoing futures and stocks so far) {image} Closed half on EJ, TP2 is 138.40 {image} AUDUSD was good for quick small profit {image} Cheers!Ignored
Disliked{quote} Mike, I'm sorry. Is that a timeframe in that platform? {image}Ignored
Disliked{quote} Mike, I'm sorry. Is that a timeframe in that platform? {image}Ignored
Disliked{quote} Hey Mike, nice one! Indicies gave us some good opportunities last days. I already closed 2/3 on ES, the rest still going with sl high above the BE. Same situation was on YM. (Demoing futures and stocks so far) {image} Closed half on EJ, TP2 is 138.40 {image} AUDUSD was good for quick small profit {image} Cheers!Ignored
Disliked{quote} Mike, I'm sorry. Is that a timeframe in that platform? {image}Ignored
Disliked{quote} I ccompletely agree with you. Weekly charts are the best to place support and resistances zones. And indicators simple don't work. But i think 1:1 or 1:2 risk / reward isn't very good. I think at least 1:3 risk /reward. But there are also other money management strategy that can produce nice results. Like grid hedging. It can be very powerful strategy if used correctly. I am making some experiences with it in a demo account and i have nice results so far. Unfortunately this strategy can easily destroy your account if not used correctly.Ignored
DislikedHi all! I'm still overseas (for the next 3 months!). However, the resort I'm currently at has a decent wifi connection enough that I can let my robot manage my trades as planned. Contextually, I felt we were overextended on all the USD pairs and were due for a corrective move and I intended to play the retracement. Took this NZD/USD pinbar before I went to dinner. Just scaled out and I'm BE on the rest to lock in profit. Countertrend but solid area historically. Some convincing divergence on our momentum oscillators. {image}Ignored