The snail's on NOS?!
Great chart/trade!
g.
I believe . . .
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikedlol
i closed, all of it.
yes, i got a very tiny chunk of that short too.
watching tv, so i didnt pursue my short
i hope u take profit when i possibly go long again.
i knew someone might post such a chart.
nice trade!Ignored
Dislikedthnx Ghous
i got some serious nitro
reduced my stops as im rushing out to class now
nice one Supreme
told u i found his cave, do u know where it is????
stay tuned Supreme ....more hints on where to find it?
cheersIgnored
DislikedThank you Pinbar, great stuff.
One question : for text directly on the chart, what do you use ? It´s so clean and tidy. I have Jing but that has clumsy boxes.
Grateful for any recommendation.
Good trading to all.
_____________
michaelIgnored
DislikedWell, so much for my theory about that monthly PPZ holding on EUR/GBP.
Back to the drawing board....Ignored
Dislikedwell, that's trading.
we wont get everything right... we just try to come up with possibilities/scenarios, then try to trade when the odds are with us.
i believe a gbp-related news earlier triggered the gbp strength (& eur weakness, via eurgbp) today.
worth noting is on eurgbp weekly, the ongoing upmove has had very little retracement, so current PA is not really surprising, IMHO.
remember, october is not yet over, so that monthly PPZ could still hold.
let's seeIgnored
DislikedYour question is that:
First price was struggling to break that PPZ than a weekly candle broke and closed well above that PPZ so when it came back,
Why did it crossed that ppz so much easily?
Right?
Here is your answer.
.Ignored
DislikedHi Hansolo
monthly, weekly and daily are all up on the eur cad
the 1.4250 is a major ppz and so thats why price has been near it since last week
personally I would pass based on the ppzs strength but would like it to be broken , wait for pa to confirm entry (support then resistance)
AnthonyIgnored
DislikedThanks Nasir
I have seen that before and I am not sure of the relationship, as Mike is talking about Huge bars, and why the IPBs work. Yeah, he is also talking about the order flow but, I don't really get the connection.
Are you suggesting that this selling is not true selling?Ignored
Dislikedi don't know about it if its true or false. lol
Anyway my view is that,
There was this strong resistance and price was not able to break it in many attempts. So when it broke through it there had to be a lot of buying power to do that,...no?
and when price broke through it...Ignored
DislikedDo you mean a Pyrrhic victory? LOL. Very nice explanation, Nasir. Thank you.
Do you pay any attention to former triangle lines and TL like the ones on my chart? Aren't those places where many sellers may come in?Ignored
DislikedWell thats confluence Hans! More confluence more reasons to sell. Now some people saw that PPZ and sell it,.. some would have saw the TL and sell it some,.. would have saw the 50 ret and sell it, some saw all of them and sell with more confidence.Ignored
DislikedThanks Nasir
I have seen that before and I am not sure of the relationship, as Mike is talking about Huge bars, and why the IPBs work. Yeah, he is also talking about the order flow but, I don't really get the connection.
Are you suggesting that this selling is not true selling?Ignored
DislikedHi Anthony, thanks for your help. You're right: EURCAD is up. I was to impressed by the overall downtrend on monthly and - depending on zoom factor - weekly. I judged a daily trade by what I saw on weekly and monthly and I totally ignored the fact that daily shows a clear uptrend - big mistake. Man, I feel like I have to go through kindergarten again. When does this incompetence end?Ignored
DislikedWell, so much for my theory about that monthly PPZ holding on EUR/GBP.
Back to the drawing board.
I guess that BEOB at the high combined with the MACD div was more than enough to see off that PPZ.
Hmmmmmmmmmmmm
Maybe Jarroo can throw some light on as to why that weekly support broke?Ignored