Pretty sure this is a classic case of Jarroo's PBT&CA, RN and prev. support..
Didn't take it myself but an easy winner.
Didn't take it myself but an easy winner.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHey Mike ,
could you give me your view on GOLD , please ?
Here is what i mean :
Daily chart - we have this wedge , 3 touches so far and then a break with a big big bullish outside bar.
The thing is that I see this more of a weekly setup where it's like only two touches of the trendline , so kinda not enough developed .
Good enough ?Ignored
DislikedHey Rust
Looks good to me if I wasn't in the US i would buy the spot gold. Don't forget to mark up the BRN of 1700 there also for trade mgmt. I would have liked to see a strong last bounce here to really feel confident in it. But I would agree with your analysis and draw it up the same way
Best
MikeIgnored
DislikedThanks a lot man !
1700 level already marked up - the upper blue rectangle is it
Forgot to mention I like very much that daily closed above .
So .... I think I will cut some risk and play it !Ignored
DislikedHello Drop
The levels marked on the charts i posted are the monthly HCR & LCS of the range we are stuck right now on this pair, those are supposed to be more reliable than any level on a lower timeframe. This is the range we have been hanging since november 2011 begginings. I assume the 77,20 is a HCR on daily (marked on the chart attached), or midpoint of actual range (Mike wrote about it a few posts back). Daily levels work too, but they are supposed to be less reliable.
Thank you for your feedback
Best wishes
HectorIgnored
DislikedYeah, you got it.
This chart is for anyone still wondering about it.Ignored
DislikedAnd for any totally new people, who are still confused about PPZ & S&R, as I was for a long time. Here is the PPZ S&R house.
Honestly, support and resistance did not click in my mind when I first started learning trading, until I got round to thinking of these levels as floors and ceilings in a house. its true. LOL
Edit: We can even put PB chandeliers & standing lamps in it.
Hey there is a marketing idea for traders, PB lamps!Ignored
DislikedYou're like butter, Pinbar . .you're on a rollll . .
Don't forget to CLOSE the door . .. . . . .
Nice one , Pinbar . . .Ignored
DislikedDon't forget to close the door? I forgot to even draw it. LOL
Are you up for marketing the Trader's Bullish & bearish PB chandeliers and standing lamps?
Don't forget I am in China and can probably get a great deal on manufacturing them.Ignored
DislikedLOL . . .I'm in on that one, Pinbar .
Did you notice the AudUsd Monthly level . .target hit . . .Ignored
DislikedYes, but I got so tied up in the monthly HCR, I ignored the bar lows, which I am sure you did not.
I think I am becoming too biased in which way price will react, instead of watching what price is doing.Ignored
DislikedYou assumed correctly, Hector . . the 77.20 is a Daily (on your feed) and Weekly HCR level.
. .we are not surprised . .
JimIgnored
DislikedWell, the main thing I trying to get acrooss is keying on these deep swing points and their HCR/LCS level. . . they are very reactive.
Sure, there are many internal HCR/LCS . .I see you point to them on your charts all the time . .its not a bad thing to do. But the Deepest ones are the best.
Let's watch and see what happens at this HCR on the Weekly NzdUsd at this deep Swing High. .Ignored
DislikedThis tools are awesome, what you guys teach is pure gold!!!, the usd jpy levels work over and over again, too bad price went to the monthly HCR faster than i thought, and i didnt placed the sell order... next time!!!
Best wishes
HectorIgnored