Hey Jarroo:
I Have seen you and others group bars together to make PBs. Do you ever combine 3 bars such as the chart I am posting? (last 3 bars on the daily chart) There was a bounce from the 1.2000 level and bounce off of the 150 EMA and Now I am looking at a break of 1.2200 level for a trend continuation. Quick move to break even and half off will be first step.
I Have seen you and others group bars together to make PBs. Do you ever combine 3 bars such as the chart I am posting? (last 3 bars on the daily chart) There was a bounce from the 1.2000 level and bounce off of the 150 EMA and Now I am looking at a break of 1.2200 level for a trend continuation. Quick move to break even and half off will be first step.
DislikedRailroad tracks (tweezers) on a given standard time frame i.e., Hourly, 4 Hour, Daily, Weekly are well known to be a reversal pattern. When they are combined i.e., 2 Hour, 8 Hour, 2 Day, . . they form a PB. So in that sense they are seen by many traders.
But on different combinations of Bars like a 12 hour PB, 16 hour BUOB, 2 Week DBHLC etc., I have found that they do act just like any other Price Action formation when they have the supportive strength of key confluences.
(Location, PPZ, Off of Highs/Lows, Fibs, Divergence, etc.)
JimIgnored