All in all ,diversity of views makes this thread interesting and i hope it will work out for you
all the best
gh
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHi,
Would like to ask, what is your opinion on this pair. Is the pin bar valid?
http://i1245.photobucket.com/albums/...0812pinbar.gif
Cheers,
KennyIgnored
DislikedThis is how i drew it. Did I do it wrongly?
http://i1245.photobucket.com/albums/...barwithfib.gif
The pin bar signal a counter trend instead of a reversal because the previous two week were bearish for this pair. Is that what you mean?Ignored
DislikedI do not use fibs much and i haven't seen anyone using 70% retracement but i wouldn't put much faith in this pb just becouse of its size, location and parity above it. Good reversal PBs stick out like a sore thumb and this one doesn't show any bullish strenght... IMO It feels more like a short break before downside continuation.Ignored
DislikedHey Samuel, I think it depends on your trading style. When your perspective is that of support and resistance even the highs/lows in the distant path, i.e. years on a weekly or monthly TF, may be of importance.
hansolo and meshka,
thank you very much for the response. i think am managing to reduce the numerous lines. also went back to post 1 to 100, entire weeknd and last week and am amazed what i have been missing. fabulous thread.
thanks guys. never been this at ease while trading.
cheers and keep up the good workIgnored
DislikedDay 2 of WIPG
Here is day 2 of WIPG. Since not so much happened and price went into consolidation I hereby reveal 2 days at once to you.
What's your analysis? Where would you put your stop?
All new people are very welcome to WIPG.Ignored
DislikedI have a hard time finding much importance in this monthly zone. Personally i would wait for some kind of PA before taking any long position.
All in all ,diversity of views makes this thread interesting and i hope it will work out for you
all the best
ghIgnored
DislikedDay 2 of WIPG
Here is day 2 of WIPG. Since not so much happened and price went into consolidation I hereby reveal 2 days at once to you.
What's your analysis? Where would you put your stop?
All new people are very welcome to WIPG.Ignored
DislikedMy initial stop would begin right at the top of the DBHLC. Price has pulled back to the bar lows adjacent to the DBHLC and I would be keen on seeing them hold as resistance. The plan from here on would be to expect the next day to go down in which case my stop would get pulled down to above this minor flip. That should reduce my risk by more then half...pretty satisfactory.
If price continues up and ends up closing above this flip I'll kill the trade.
g.Ignored
DislikedDay 2 of WIPG
Here is day 2 of WIPG. Since not so much happened and price went into consolidation I hereby reveal 2 days at once to you.
What's your analysis? Where would you put your stop?
All new people are very welcome to WIPG.Ignored
DislikedHi,
Would like to ask, what is your opinion on this pair. Is the pin bar valid?
http://i1245.photobucket.com/albums/...0812pinbar.gif
Cheers,
KennyIgnored
DislikedI mean the whole WIPG thing assumes that this bar broke right.
If it has not yet broken, it is not a trade.Ignored