Here was my post from yesterday hopefully it can help you
http://www.forexfactory.com/showthre...89#post4504489
Best
Mike
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHey D.
I notice you and Mike have BRN's plotted on your charts,. Do you do that manually or is it in your template?Ignored
DislikedNot clear how this "failed".
There is no PB on my GMT feed but taking the PB in the posted chart there is a bullish PB on the daily sending price back into the box of consolidation it has been in for over the last month.
On the posted chart and my own feed, price stayed inside the box. Early days but if past performance is any guide, price will continue up into the box.
To my eye (at this stage) the PB did what the label on the tins said; it sent price back into the box. A vindication of the sign not a failure. On my feed if a stop loss were...Ignored
DislikedHi Lee. Mike covered the bar but I thought I would add something. I don't see bullish divergence. If I look at your chart, it looks like you drew the divergence from the highs on the chart, but from the lows on MACD. When checking divergence you want to compare highs to highs and lows to lows on chart and Macd...the bearish divergence (magenta) actually gave a heads up to the mvoe down from 1.6400.Ignored
DislikedA+ trade imo.
Stops were tipped...price went back above the 1.5980 level with strong momentum....slowly retraced to 1.5980....and kaboom, h1/m30/m15 strong buob bar. It wont get much easier then this.Ignored
DislikedWatching this level on the Gbp/Aud. .previous bar High of the Weekly BUOB.Ignored
DislikedBoy that daily PB looked picture perfect/double top ....but right into parity close above parity...but I am picky and my rules don't allow to take these.
Did anyone take this on the lower time frame after bar closed below 1.0?Ignored
DislikedLooking at the Weekly, the Highest Close of Resistance this year was . . no surprise, parity. Price finally closed above this level last week. Looking for it to act as Support now.
With that in mind, this 4 hour BUOB looks pretty good. . . the story fits.Ignored