This is a location I'll be watching...
Perhaps Rac will be also?
Perhaps Rac will be also?
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikedpersonally, i would've taken this. if i did, i will monitor momentum. what happened is after the PB, price ranged around the 1.06 area, instead of shooting upwards, for 3 H4 bars (that's 12hours of no expected action!!;
REMEMBER: "a good setup is a high momentum setup" --jarroo). this will give me concern & lead me to think/re-think my [buy] trade [b](specifically considering the lack of action & the current [down] trend). so probably, i would've tightened my stop &/or closed...Ignored
DislikedHow?
price wont meander around a range, price will move in 1 direction for some time.
Check out FinnTrader's $cad H4 chart. he bought off of a PB, but since there was no momentum (no demand/buyers), price consolidated around 1.0600 (taking out stops, whatever), then finally more sellers came in pushing price downward.
if there was momentum off of that PB he took, then price would've shot up & not consolidate.
random analogies:
in martial arts, if i kick u & my kick has enough momentum, u will either get hurt &/or...Ignored
Disliked"a good setup is a high momentum setup"
How do I understand when we have that momentum ?
Ignored
DislikedI'm in on the break of this BEOB on the NZDUSD 4hr...anyone else?Ignored
DislikedI'm in on the break of this BEOB on the NZDUSD 4hr...anyone else?Ignored
DislikedEURAUD just formed a BUOB or two-bar pin on 4hr chart. Price hit the weekly ppz and 1.6500 round number, with macd divergence. Swing low location with space. Is this a good setup to go? The blue box in 4hr is the 1st trouble area, am I identify it correctly? Would like to hear your opinion on this. Thank you.Ignored
Disliked....
I love analogies....
The more analogies the better. Here's another one on momentum.
If your driving in a boat on a calm lak...Ignored
DislikedYou'd have a perfect buy on Geppy just about too. Woudn't you, smarty pants?Ignored
DislikedI'm in on the break of this BEOB on the NZDUSD 4hr...anyone else?Ignored
DislikedThanks Sir.
similarly, it would be very difficult to stop a roaring bullet train/car abruptly. even when the brakes are applied in the 'maximum', the vehicle will still travel in the original direction (or swerve, but that's a different matter), albeit slower than before (losing momentum/counteracted by brakes).
in the case of launched rockets, it takes a lot of fuel to propel a rocket upwards into orbit. it must overcome gravity (sellers, in trading).
[url="http://en.wikipedia.org/wiki/Newton%27s_laws_of_motion"]Newton's laws of...Ignored
DislikedNice one sChaos.
Although we (me) do try and break Newton's laws at times. (weak countertrend setups) lolIgnored
Dislikedhi...im still learning the price action techniques and i hope i can get some comments
i just posted some charts earlier - Daily USD/CAD
can someone help review?
thanks in advanceIgnored
Dislikedhi...im still learning the price action techniques and i hope i can get some comments
i just posted some charts earlier - Daily USD/CAD
can someone help review?
thanks in advanceIgnored
Dislikedhi...im still learning the price action techniques and i hope i can get some comments
i just posted some charts earlier - Daily USD/CAD
can someone help review?
thanks in advanceIgnored