the spread is enormous, but iŽll give it a try
have a nice trading.
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikedwe learnt confluence is important in price action. can i get some opinions on how tight the confluence should be? multiple s/r factors found w/in 2 pips? 3 pips? 10 pips? is it more of a range?Ignored
Disliked...at what point can i feel confident the resistance is now support?Ignored
DislikedHello Mr. demark,
Those are the areas of S/R he speaks about in his post. They are areas where support becomes resistance and resistance becomes support. AKA the PPZ, this pivot price zone is just that as opposed to a pivot point. The PPZ is very much central in J16 trading. For the blue lines in MT4, go to Insert, Shapes, Rectangles, and just drag it to the shape you want.
Later
RoyIgnored
DislikedHello Mr. demark,
Those are the areas of S/R he speaks about in his post. They are areas where support becomes resistance and resistance becomes support. AKA the PPZ, this pivot price zone is just that as opposed to a pivot point. The PPZ is very much central in J16 trading. For the blue lines in MT4, go to Insert, Shapes, Rectangles, and just drag it to the shape you want.
Later
RoyIgnored
DislikedYes, exactly. Thanks for helping out while I was "out"
You can also customize your toolbar to include a quick-icon for the rectangle by right clicking the current icons and choosing customize.Ignored
Dislikedyeah. I just did. Thank you. Also Seeking, what are your views on USDCAD. I " think" it bounced off a PPZ. It scrwed me in the processIgnored
DislikedGbpUsd weekly chart is showing a descending triangle. The descending triangle is continuation chart pattern in a downtrend in which the support line is broken and the downtrend goes on. In this case the GU is in an up trend. The price broke out of it and pulled back to the breakout level. If this week closes with a pin bar, it can be a possible trade. But still there are the PPZs 2.0000 and the 1.9630. The price may get stucked between them.
Location: Break out of the triangle and pulled back to the breakout level
Confluences: TL and PPZ 1.9630
Higher time frames PA: pin bars on monthly chart to PPZ 1.9365
Trend direction: It is a trend continuation for the uptrend.
What do you think?Ignored
DislikedStuck between 1.03 and 0.98. Preferably don't trade the middle, but the extremes(i.e. the borders of the range only).
In case of breakout, look for a setup.Ignored
Dislikedwe learnt confluence is important in price action. can i get some opinions on how tight the confluence should be? multiple s/r factors found w/in 2 pips? 3 pips? 10 pips? is it more of a range?
also, after how much (or how long) would you consider s/r having been breached creating momentum. let's say we're long, heading into some confluence of resistance ... at what point can i feel confident the resistance is now support?
thank you in advance for any help/insight.Ignored
DislikedNot sure what your asking, but the current trade I am in on the Usd/Jpy (if you have been following it) is worth a look on confluence.
This what I saw when I took the trade: Price Action (PBs and IB), PZZ and Trendlines all lining up nicely for confluence to support a long trade.
http://www.forexfactory.com/showpost...ostcount=11436Ignored
Dislikedsaw this Pb today and got in long on a retracement.... sure the spread is unbelievable but :
1) i went long only a couple of units so my loss would only be a couple of cents;
2) looking the pinbar i think it is at some end of wave not sure if 5 or 3 ...
...again it's a shame for the spread 'cause looking at it as a crude-naked chart i think it's a tradeble pin with some nice pips to go (i hope).Ignored