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Open: 1.3867
High: 1.4026
Low: 1.3618
Close: 1.4016
Where can I learn more about Price Action like those in James16 charts? 9 replies
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DislikedHi guys, what do you think about Daily G/J PB? I'm a little confused about what to do when you have a PB but the PB or any other PA is not bounce off the PPZ, but rather the PPZ could act as resistance like in the G/J situation. PPZ ~131.550. If the PB break, it could be good for 600ps with 1:1 r/r.Ignored
DislikedAdding to the GBP/USD pinbar discussion, I have noticed an inside bar on the 4 hour chart. I was thinking of buying after the break of the daily pinbar, but Jaroo may have convinced me to wait a little longer.
Also, I wanted to say that this is by far the greates forex thread I have seen and would like to thank all of the contributers.Ignored
DislikedSeems like alot of action today guys. I am becoming more comfortable picking out good pins and even some outside bar patterns, my problem is identifying traffic and the ppz. I know this takes some practice but is it just a matter of staring at the charts at different time frames and seeing where there is buildup? Learning this I know will keep me out of some risky trades and help me to adjust my TP's better. I dont know what I really am asking besides is there a method to finding ppz's?Ignored
DislikedStart on the Monthly chart and find the obvious Pivot Zones there, and work your way down to the timeframe you are trading. The higher the TimeFrame the stronger they usually are.Ignored
DislikedHey Pip,
When we trade a daily bar, most of us will set our order and leave it until it is either triggered or cancel it after the following day closes. I am trading this but will be setting my trade to break even, BE, and may take some profit when price hits the ppz of ~1.4300.Ignored
DislikedStart on the Monthly chart and find the obvious Pivot Zones there, and work your way down to the timeframe you are trading. The higher the TimeFrame the stronger they usually are.Ignored
DislikedThtat's why we need more conformation. Price has to prove itself by breaking 1.4000 and 1.4050. Then act as support, which is an even safer trade.
Meaning that if Price breaks these levels then retraces down and acts as support then we look for PA off these new support levels.Ignored
DislikedJust wanted to illustrate Jarroo's point on the GU Daily Pin. If you look at this 4hr chart (the blue highlights the bars that made the daily pin) you can see that there was a 4hr pin which breaks out nicely on the next bar. It then retraces to the previous resistance line which has turned into support. This is the break out, pull back, and continuation. It looks like the daily GU pin should trigger within the next 4hrs or so.Ignored
DislikedMike doesn't correct spelling mistakes. He round-house kicks his internet computer and the whole world changes the way they spell.Ignored