DislikedAgree, the economic picture of the US imvho is sort of counteracting technicals. Just my .02, any thoughts?Ignored
now i just wish the NFP does'nt have more suprises for us tehnical traders...
I believe . . .
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedAgree, the economic picture of the US imvho is sort of counteracting technicals. Just my .02, any thoughts?Ignored
Disliked... guess it all goes down to prove that the fundamentals are also important...Ignored
Disliked... i've actually been incorporating general fundamentals into my j16 trading ... there was a post by "the_wizard" some time back that really caught my attention (during my 2nd read of the thread). he suggested setting up the fibs, TL's, s/r, etc. FIRST (plan the trade) ... and then watching for a PB, BUOB, double bottom, etc. to jump on board (trade the plan) --- this can also be done using some basic knowledge of the fundamentals ... for instance, there is a much going on fundamentally w/ the USD and the EUR ... and this has very much been reflected in the price action as of late ... so, when the fundamentals kept saying short, and then these weak pins appeared (in traffic, no ppz, etc.) ... it was kind of reinforcing the idea to PASS on those bullish "pins." i instead ended up trading the EURUSD & GBPUSD short (after getting my butt kicked by those goofy pins) by jumping in using one of mbqb's combo pins on the EURUSD and BEOB on the GBPUSD and i made out really nicely there.
anyhow, let's stay positive and make some good trades this month!!Ignored
Dislikedright. but...i also know that Jim (James16) pays little attention to news and generally goes wherever price takes him,Ignored
Dislikedright you are ... however, i have been using basic understanding of the fundamentals (the overall "trend" you might say) as it's own source of support/resistance in addition to what the fibs, pure price support/resistance, MA's, etc. are telling about the price action ... so, i won't be "trading" NFP ... but i certainly will be paying attention to it in terms of the potential to shift/reverse/retrace the present "trends," support, resistance, etc. for any future positions i may enter.
besides, the fundamentals are a good distraction for me when there are no price actions in sight and i am tempted to trade something ....... (and in the past ... anything)Ignored
DislikedHi all,
30 min to close for my broker, and the only nice pinbar I see
is USDCAD. From the other pins, the noses are a bit short, compared with its length of the bodys imho.
But there are 30 minutes left to build some better pinsIgnored
DislikedJarroo, in the last month GU was dropping like crazy, making lower highs and lower lows, I only use daily candles in my analysis and I couldn´t spot a nice setup to get in short, not a double bar low or and outside candle that would get me a nice entry point, I had a feeling it was going lower and lower but I didnt know when to enter, what do you do in those cases, do you resort to 4hr TF?? GU has tanked like 2000 pips, did you grab any? if so, how??
if there were in deed daily setups, please showém to me.Ignored