By the way i like your posts too... plain..simple...
Good one
V
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedThose areas have not been 'dealt with' already Adi.
The close on PA bars is very important. For me it can be the trade maker/breaker. If I simplify the 'areas' down to the 9500 RN, notice how the pin bar low touches the RN and closes above it. The close is above is not a great sign of bearish strength. Had it closed below the 9500 the BUOB would not have been too much of a worry at all, because then you have the added protection from the 9500 quite possibly acting as resistance.
The BUOB in comparison is a much better trade. Do you see...Ignored
DislikedGreat post ghous . .
Great example of PA with a strong close (the BUOB) and a weak close (the bearish PB) as they relate to a key level like a BRN. The bearish PB is not at a swing High and the BUOB is at a swing Low sure helped the situation, size too, etc. . .
But understanding this important point of how PA closes as they relate to our key locational levels, like BRNs, can make all the difference in the world.
The close is important.Ignored
DislikedThank you very much for your opinion Joel!
I really like your logics and though process from many many of your posts, but i always get a question in my mind how many people think like me or you or how many people have different "information processors" for example on this trade?Ignored
DislikedI have an idea on different outcomes but does it really help when the distribution is random?Ignored
DislikedThis is a good example of why we need to look at the story behind price movement.
There is a nice steady down movement (10 bear bars in a row, only 1 large one though). Sellers keep pushing price to an all time low. Where do you think the big boys will be looking to take some profit? 2.0000 looks like a good spot. Good place to test this down trend. My feed shows 3 bars with closes on or above 2.0000. Mix in a little PA and wala.Ignored
DislikedHi guys this is what I have noticed...
Please give me your comments!
Thanks!Ignored
DislikedSince we've recently had some videos posted, here's something for the newbies in the triumph of the New Year spirit
(pardon the quality, putting it up on youtube erodes the quality quite a bit)
http://www.youtube.com/watch?v=mNjVZoTeYhk
g.Ignored
Dislikedhi Joelcf, whats your thoughts (and anyone who wants to comment) on the gb/chf dbl IB on D1 ?? would love to hear your thoughts. i missed it or i would have been tempted.Ignored
Disliked(pardon the quality, putting it up on youtube erodes the quality quite a bit)
http://www.youtube.com/watch?v=mNjVZoTeYhkIgnored
DislikedNicely done Steve.
Now can you imagine only taking setups like that BUOB at the 80.00 with all of its confluences . .BRN, PPZ, EMAs, 50% ret., trendline, Size . .only trading setups like that. . . . Well that's what the picky traders do. Some do it on the Daily and some do it on the Hourly. But they all do it with a ton of confluences as it relates to Location and PA.
I also liked how you pointed out PPZ levels in the video . .Ignored
DislikedSince we've recently had some videos posted, here's something for the newbies in the triumph of the New Year spirit
(pardon the quality, putting it up on youtube erodes the quality quite a bit)
http://www.youtube.com/watch?v=mNjVZoTeYhk
g.Ignored
DislikedTime of year aside, I would have jumped on a break to the downside for sure. As is, it's a pass, but only because it doesnt really fit with my approach.
It is almost sacrilege here, but (aside from the one exception below) I only take IBs with the trend (or with my directional bias, which *should* be the same). In that way, I kinda view it the same way as a breakout - it's a low risk way to load some more money into a position I want to hold.
Countertrend, the only time I take an IB is where we have a big bar and then a small reversal bar next...Ignored
DislikedThanks Jarroo, it was a nice setup as you say.
Now, I have to find them in real time, the hard part.
You have a good rest at the New Year my friend.Ignored
DislikedJust a scenario I thought I'd share. Last week at this time I thought 1.30 was just a wink away. However I feel pretty strongly (weekly bar)that we will see at least 1.3497 (then higher) before we flirt again with 1.30. Any more upside is a gift for euro bears like myself.
K.I.S.S.Ignored
Dislikedlooks nice.
hopefully weekly & up favors the upmove further.
let's see how this week &/or next week ends up.
makes sense to me.
i see possibility it will weekly-close at/above it this Friday, if not next week.
if bullishly so, 1.60 - 1.63 doesnt seem far-fetched in 2week's time.
a close above 1.5650, then 1.58/1.59 would confirm this possible path.
let's see.Ignored
DislikedHi Ghous,
Was this an IPB on AUDCAD?
I have re-read the link that you had shared... but still find it a little difficult to understand / identify IPBs.
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DislikedWatching to see if Price can hold as Resistance on the Usd/Cad. It may just pop up and hold as Support again. . .this would be confirmed by a Daily close above the 1.0000.Ignored