a sexytary like Mike?
i have seen u here 13hrs ago.
3hrs ago, u have made new posts.(& u are still online now)
u get no sleep yet still come up with lengthy informative posts.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedDid you consider this a PB by Proxy?
First thing that jumped out at me was the low of your PB could have become new support. Not clear why you took this one?Ignored
Disliked
u get no sleep yet still come up with lengthy informative posts.
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DislikedWhat perfect timing Joel.
I read the above after I succumbed once again to the indicator plague and returned from an extensive search of the web for the totally NON EXISTANT PPZ indicator, AGAIN.
I know this does not exists but it does not stop me from searching for it occasionally. And even if I found a good one, all it would do is prevent me from seeing the PPZ with my own eye.
Maybe I have a responsibility issue with this problem, I mean, if I draw my own PPZ and they fail me, I can only blame myself but if I use an indicator and it fails,...Ignored
DislikedThis is a great post pin. The more you watch your charts, learn from your mistakes(which we always continue to make and improve on), the easier it all seems. This is that simplicity you seek. Glad to see you steer yourself back to the basics and simplicity. They work and the big guy has laid it out
MikeIgnored
DislikedThanks Mike....
It encourages me to ask myself, Why do I have to make the search for making it easy, so complicated?Ignored
DislikedI wish I had a good short answer for this one , but recognizing over complication is the first step towards simplification
MikeIgnored
Dislikedhey joel do u have a substitute poster or
a sexytary like Mike?
i have seen u here 13hrs ago.
3hrs ago, u have made new posts.(& u are still online now)Ignored
DislikedYeah, I think it is certainly a responsibility dodging issue with maybe a great lack of confidence as confluence.
I have learned a great deal in a short time and maybe it is a problem trying to internalize this.
Funny, the more I learn the less I am sure I do not know and this makes me feel a bit insecure. Of course demoing is the place to compound this and get them skeletons out of the cupboard for an airing.Ignored
Dislikedjarroo, I thought the bounce off the orange trend line was so precise that it may be enough resistence to keep price going down a bit further before heading towards the 1.5000 level. In this type of situation, should I be placing more emphasis on PPZ's than on trend lines?
GrantIgnored
DislikedJust wondering if anyone has compiled a 'best of' for this threads set ups. Kind of like the greatest hits It would be good for beginners to this thread to have a collection of charts of the A++ set ups that were traded, discussed and were profitable. Just a thought. If there is such a thing could you point me in the right direction ThanksIgnored
DislikedIve thought of this too. I don't think there is one out there. Its a good idea.Ignored
DislikedMaybe I have talked myself into a lot of homework It might be possible if you could get enough participation from a few long time posters. I like the idea of being able to print out the very best examples and always have them near hand when trading to compare current set ups.Ignored
DislikedFunny, the more I learn the less I am sure I do not know and this makes me feel a bit insecure. Of course demoing is the place to compound this and get them skeletons out of the cupboard for an airing.Ignored
DislikedWhat do you think of the BEOB on daily EURUSD?
Pro:
* VBRN @ 1.2500
* Fib Confluence on daily chart
* Weekly PPZ
* Monthly 150EMA
* With the downtrend
Contra:
* Could be retrace to minor daily TL
* Daily bullish divergence
* Not so much space
I would like to see the daily close below the low of the weekly bar @ 26th Oct 2008 (1.2329) and below the weekly pivot (turquoise line on my chart). FTA and the minor daily TL I mentioned above @ ~1.2258 would be a good point to move to BE.Ignored
DislikedPatience, Patience.....!
EDIT:
Just watching some of the videos and realize I need only this one line for the time being on the weekly (right Pic).Ignored
DislikedNice Pb.
I would add just one more line at the .8425ish level. A clear Support level. Price may swing up there (pun intended) and give some nice PA turning Support into Resistance.Ignored
DislikedHey Grant.
I would emphasize more on the PPZ level. Don't get me wrong, a well defined trendline can be very effective as an added confluence with a setup. Your chart shows this with the trendline you drew.
But let me ask you this . . was it the trendline or the BEOB rejecting the 1.4800 PPZ that got Price to the next PPZ level, the 1.4700? Probably both. . .maybe. Trendlines can de very subjective where PPZ levels can be very defined and clear. That's the difference I see in them.Ignored