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JTrading89
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Mentor help
in
New Traders
Mar 12, 2024 at 16:45
My question is, what is your idea of getting from a mentor? What is it that you would expect a mentor to do for you?
The Price Bar Alphabet (PBA) and more!
in
New Traders
Mar 11, 2024 at 11:48
Beginners should first learn the PBA. It gives them confidence when they view a chart.When reading a book one needs to know the alphabet as well. Learn about what is called a:DOJI BAR, INSIDE BAR, REVERSAL BAR, INSIDE REVERSAL BAR, INSIDE DOJI BAR, VIOLATION BAR, HALF CORRECTION BAR, FULL CORRECTION BAR, OUTSIDE BAR and CROW BAR.Once a trader can identify these bars and understands their impact on the trend or consolidation, he/she is already halfway there.The next step is to learn how PRICE CONSOLIDATIONS work.There are CONSOLIDATIONS, CONGESTIONS and TRADING RANGES.A stock trader should also...
EURUSD 4H
in
Experienced Traders
Mar 10, 2024 at 16:04
The EURUSD is currently in congestion on the monthly with 15 bars, including the March bar.High of the congestion is 1.0929 and the low is 1.0482 (on my chart)The rule is, not to trade more than 12.5 % above and below the entire spread of the high/low of the congestion, which is approx. 450 pips.First bar to attempt to trade outside this price range is bar 17. Best to stay inside the high and low of the congestion. Use a faster timeframe to sell at the high of the congestion and buy at the low, to trade back into it until bar 17 startsThe high of the monthly congestion was reached on Friday an...
Intraday Trading is gambling
in
New Traders
Mar 10, 2024 at 14:08
All charts look the same - prices go sideways, then there's a trend... sideways again... trend again. The trend is easy to spot. So when is the trend over and prices start to consolidate again? That can be learned, as there are quite simple rules that apply.When prices consolidate, the first step is called "price consolidation".After that the sideways move turns into a "price congestion"and after that into a "trading range".Important is to check all timeframes, starting with the highest (slowest) first. So, when the monthly chart is in congestion for example, ...
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