I believe proxy pin bar is a James16 term, although he learned much of his PA from his predecessor, so the term could have originated farther down the line.
Krugman, thank you for answers, we were typing at the same time thatās why I asked another one.
I see, so FX does differ from equities in this regard. OK, good to know and thanks for info
You guys probably posted this chart already (Daily, EUR/USD), this is just a demo, I entered on pin bar that formed on 8-12 hr chart (will focus more in the future on daily charts though) doing PA thing, but there was another reason. Look at the daily chart Iām posting here and you will see that pin bar got rejected within few pips above trend line, nice support action.
If someone already posted this chart, sorry for double posting, Iām still around 10 or more pages behind with reading but though to post chart now. Trade is not cooperating too good so far, it is stalling, probably because of all that traffic above entry, this setup is probably not that good because of the traffic. But this trendline was just too nice
Although trade was taken based on pin bar PA off 8/12 hr chart
I hope gray background is not too annoying
I have one quick question.
Iām using demo Roboforex MT5, and all (or most of them) pairs are listed twice, once as normal tickers: EURUSD and tickers that have āmā on the right side: EURUSD.m, see attached picture.
Why are pairs listed twice, what āmā stand for and which one should I use for charting/demo trading?
[QUOTE=āVeleje;561186ā]I have one quick question. Iām using demo Roboforex MT5, and all (or most of them) pairs are listed twice, once as normal tickers: EURUSD and tickers that have āmā on the right side: EURUSD.m, see attached picture. Why are pairs listed twice, what āmā stand for and which one should I use for charting/demo trading? <img src=ā301 Moved Permanentlyā/>[/QUOTE]
In your screenshot I donāt see any duplicate pairs listed, but the pattern I did notice was the major pairs did have anything and the minors had the little me. Iāve never seen that before so itās just a guess.
[QUOTE=ākrugman25;561190ā] In your screenshot I donāt see any duplicate pairs listed, but the pattern I did notice was the major pairs did have anything and the minors had the little me. Iāve never seen that before so itās just a guess.[/QUOTE]
Terrible spelling. Some of the majors didnāt have anything, and the minors had a little m.
Donāt worry about spelling Iām foreigner I donāt see no difference anyway lol
Most pairs are in both forms. Maybe all didnāt bother to compare all.
They are sorted by name with few areas out of sort seems to me so, here is screen shoot where Iām showing both variations for two majors. I can open chart for each variation and they are slightly different. I thought it is something new/common but I looks like it is not. Thank you for help.
The fraction is different. Without m, you have 4 decimals. With m, you have 5 decimals.
I donāt really know the reason, but I suspect thatās because RoboForex is a hybrid broker. 4 decimals for their DD part, while 5 decimals for their NDD part. Please take my advice with a grain of salt, though.
Yes, thatās it. Thank you, good observation.
Hi Henry, welcome here
Is your winning stock strategy off weekly charts or daily or smaller time frame?
Any chance you would share it?
I understand if you donāt want of course.
And would be off topic here, but if you wish you could PM me
Anyway regardless, welcome here and hope you get profitable in FX also.
Price action does looks promising and it makes sense.
Ahh, I should of read all msgs before posting my chart. I see you already posted it and with trend line. Sorry everyone for double posting. Blushing nowā¦
Patient is starting to pay off with this transaction
Quot of the day
āWaiting is tradingā
Have a green day everyone
[QUOTE=āEternalNewB;561274ā]Quot of the day āWaiting is tradingā Have a green day everyone :)[/QUOTE]
I like it, some of the best ways Iāve kept my account growing is by not doing anything.
A trade scenario to be watching for in the near future. Watch for prices to retest the broken resistance turned support zone and then print a bullish price action trade setup to enter the trade long. Just something to watch for!
GBP/CHF 4H Chart
Here is a zoomed out view to see the S/R Zone
One manās fate comes from one manās wait.
Sometimes Forex is as exciting as watching paint dry, this is one of those times.
Yep, time to catch up on some movies and series!
EUR-USD - cāmon, you can do it!
I find the Forex similar to poker in certain aspects. Here we are waiting for the perfect set up . In poker you wait for the playable hands. Until one of those things comes your way you sit and wait. I find myself in these situation to get trigger happy. I want to jump in with a mediocre set up; or in poker a mediocre hand. Sure, I might get lucky and win a few garbage hands at the poker table or some mediocre setups will go my way in the Forex but In the long run I will lose more than I win if I continue to do that. I need to keep reminding myself of that. What I have learning these last 10 trading days is patience. History will repeat itself when it decides too do so.