Was half expecting some friday profit taking, but there's no conviction in the market right now
just my 2c
Hope everyone has a great weekend
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikedwow, 6H PB.
IMHO, intraday looks bullish.
if that 6HPB breaks, possible immediate traffic areas are 1.4750-60, 1.4700-20.
....wow, my 4000th post
i intentionally did it on james16 thread.
Thanks everyone.
Thanks Sir James16 & group!Ignored
Dislikedyes, there is a downtrend with high swing, even I do not like congestion to 14800
I'm short by 14,812 and now BE
TP1 14760
edit: token SLIgnored
Dislikedddinnov,
Thanks Sir.
today & the other day, there has been mention of 'quadwitching' today. (quadruple witching)
this may explain the PA today/this week. plus it's Friday.Ignored
Disliked..thanks... If past experience is any guide, expiration weeks usually end counter the trend of the week ie. if the week has been up, then it ends with a dip. This might now have been the case prior to 2009, but it certainly has been the case for at least a year know. What do you think? Are you expecting any action in during the closing hours?
..Ignored
DislikedPinbar,
I looked up the articles that highlighted the EJ-SP500 connection:
http://seekingalpha.com/article/2087...ng-correlation
http://seekingalpha.com/article/2098...ce-what-s-next
I don't know you trade the major indexes but with this kind of correlation, it's sometimes good to keep an eye out both the currency pair and one of the indexes (I prefer the S&P).Ignored
DislikedPinbar,
I looked up the articles that highlighted the EJ-SP500 connection:
http://seekingalpha.com/article/2087...ng-correlation
http://seekingalpha.com/article/2098...ce-what-s-next
I don't know you trade the major indexes but with this kind of correlation, it's sometimes good to keep an eye out both the currency pair and one of the indexes (I prefer the S&P).Ignored
DislikedIMHO, it depends on your profit goals & the type of trader u are.
each time frame has its respective trend.
for example,
-if u are a scalper, u can look at the trend of M5 - H4. u dont go on basing your trades on daily/weekly/monthly trends, in the sense that price can oscillate up & down on M5 - H4 (with many trade opportunities).
-for those who trade H1/H4, then u can look at daily/weekly timeframe for trend direction.
these are just examples.
Hope i made sense.Ignored
DislikedHere's a nice 8H BEOB off resistance on G/U. 1st chart shows the PPZ's better.
Reasons for trade:
+ Off PPZ
+ Big bar
+ Swing high
+ With Long-Term Trend
+ Space to move
FTA highlighted in red. Comments welcome.
-- DannyIgnored
DislikedEJ weekly has got the weird cup and handle look to it.
I remember reading about these patters a long time ago, and if my memory serves me correctly they are indicative of a large move.Ignored
DislikedI grew up and lived my whole life in the midwest USA. It is nice here, I certainly cannot complain. Cost of living is cheap. Great job. Free time, familiy is close, etc.Ignored
Dislikedwow, 6H PB.
IMHO, intraday looks bullish.
if that 6HPB breaks, possible immediate traffic areas are 1.4750-60, 1.4700-20.
....wow, my 4000th post
i intentionally did it on james16 thread.
Thanks everyone.
Thanks Sir James16 & group!Ignored