Indicators show the past. Price Action "Indicates" the future.
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedOne could (potentially) "cut corners" with a programme such as ForexTester. It allows you to practice and improve your skills in a shorter period of time. BUT! One has to be "honest" as it's easy to fool oneself by "steping back" via "undo" function.
Also, such a programme allows you to feel the market better as you can see daily moves in 20-30 seconds. So, that way you DO learn to place your order (with TP and SL) and just sit back and wait for the market to move. It's hard to do (initially) with live market (with H4 TF, let alone daily). However, after demoing with ForexTester one shouldn't forget this skill of waiting when you go live.Ignored
DislikedI think if people spent half as much time on actually reading the market versus coming up with new EA ideas, they'd be successful traders.Ignored
DislikedBEOB (or 3 day pin?) off of 365 EMA on EURUSD (failed pins previously highlighted on the 12th...think they were closer to neutral bars. funny how they look more like pins when you haven't traded in a week or two) Excuse the messy fibs.
Pin off of support, 50% retrace of latest big move, and 365 EMA on EURJPY (failed pin previously, guess she wasn't ready just yet). Scared of it staying inside the pennant formation that formed over the past year though, marked by descending trend line.
Lots of stuff compressing into pennant formations over the last few days. If there are more pairs doing it than not, you would think maybe to stay out of the market. Guess that's what demo trading is for!Ignored
DislikedIf price doesn't have anything in it's path that would cause it to stop, it won't(like in physics).Ignored
DislikedThinking in terms of physics, let's say we're trying to break down a door (or the price is trying to break through PPZ).
Taking a 3 mile run up would be pointless as you'd be too tired by the time you reach the door and merely bounce off it. A more practical approach would be a 5-10 meter run up, enough time to build momentum with enough gas in the tank to burst through it.Ignored
DislikedWOW . I totally missed that one. Should edit my charts eh? LOL
That actually makes it a lot more convincing.
Edit: Even before that, I was already happy with my original trend line. It was there before we hit this area.Ignored
DislikedHi!
Would You tell me the purpose of Your blue (trend?)line?
I don t understand that. I tied your A and C point with a line not A-B.
THX, LaszloIgnored
DislikedWOW . I totally missed that one. Should edit my charts eh? LOL
That actually makes it a lot more convincing.
Edit: Even before that, I was already happy with my original trend line. It was there before we hit this area.Ignored
DislikedOnce we get a break of the PB, I like the 163.00ish area for the 1st target.Ignored
DislikedI agree 163 is the first obstacle, but if I take first profits there, I wouldnt get a 1:1 ratio. Where is your SL, Jaroo, if you dont mind me asking?Ignored
Dislikedi didn't fully understand this until reading through pring's book .Ignored
DislikedDHLC just occured on EUR/USD 15 min chart - still time to get in
downtrend continuation
price trading just under the central pivot
stochs overboughtIgnored