DislikedThis is one example where it highlight the perils of entering a setup when it is approaching a PPZ or BRN level, something that you don't like to do, right Mike?Ignored
BRN = ?
thanks!
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedThis is one example where it highlight the perils of entering a setup when it is approaching a PPZ or BRN level, something that you don't like to do, right Mike?Ignored
DislikedHello melvin87,
just a quick observation (i didnt check for confluence)
the pin in question is embedded into the prior bar (roughly 60% of the pin is embedded; the prior bar is like a giant cloud on an overcast day). we ideally want a PB that is protruding away & distinct from the surrounding bars.
talking about the form, compare this pin to the pins prior April21 (bearish pin) & May19(bullish pin) in your chart.
Hope that helps a bitIgnored
DislikedHey Supreme, thanks for your quick reply. I was actually looking at the chart from MT4 as attached. Somehow, it seems to be more protruding (not too sure if im thinking too much on this one hahah) than the one from FXCM which didn't really make me think much about the previous bar.Ignored
DislikedHey Melvin
Here is my viewpoint, I could probably dig up old posts from this time that say similar
Overall at this point we can see clearly how sideways and choppy usd/cad has been. So a random pin forming isn't really unlikely. But the question is what are the real confluences to take it in such a choppy market. Notice the market coming off a few strong bearish days. Now I think this is still an avoidable trade even if the choppy mess doesn't bother you(some people don't care as much as me). Firstly confluence of reasons, second buffer. If...Ignored
DislikedHey Mike! thanks for the reply. Fully understand the part on the buffer.
However I still don't quite get what you mean when you said 'what are the real confluences to take it in such a choppy market. Notice the market coming off a few strong bearish days' because what occurred to me when i looked at that pin was the bearish bars leading to a relatively deep fib retracement which also happens to be at a ppz which was tested on a few occasions a few months before.Ignored
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This thread has some of the nicest pple on FF and is IMO, the most BS free.
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BTW, anyone here trade Thai Baht pairs? If so, which brokers offer them?
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Disliked... I was actually looking at the chart from MT4 as attached. Somehow, it seems to be more protruding (not too sure if im thinking too much on this one hahah) ...Ignored
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However I still don't quite get what you mean when you said 'what are the real confluences to take it in such a choppy market. Notice the market coming off a few strong bearish days' because what occurred to me when i looked at that pin was the bearish bars leading to a relatively deep fib retracement which also happens to be at a ppz which was tested on a few occasions a few months before.Ignored
DislikedI must confess that i have learnt a lot from this thread. ...
1.6000 for GU? i will wait to see what happens.Ignored
DislikedPreferred this one out of the CHF pairs, on AUDCHF, nice PB + clear divergence. Stop already at BE, shooting for 0.9500Ignored
DislikedDid I miss out on the 5K??? Typical, missed another BRN move http://cdn.forexfactory.com/images/smilies/yim/doh.gifIgnored