Disliked{quote} Thanks for explaining my friend. Took this buy on aus/usd after multiple rejection of fake out area . Your views please? {image}Ignored
The key there was to wait for multiple confirmations
g.
I believe . . .
Where can I learn more about Price Action like those in James16 charts? 9 replies
Disliked{quote} Thanks for explaining my friend. Took this buy on aus/usd after multiple rejection of fake out area . Your views please? {image}Ignored
Disliked{quote} That's a really nice swing point and a good looking fake out. I do have some issues with space on this one though. If the daily closes as is, then we're running into a PPZ. In a sideways market you're doomed if you end up missing your trouble areas. For me this has to close lower than where price is currently at to avoid running into that PPZ and instead shove it into the column of confluences for the trade. There might still be a possibility of a lower time frame trade even if price closes as is (looking at the strength of the fake out)...Ignored
Disliked{quote} We do have a close below the PPZ. I am in on this one. You can see the stop above the pin bar high but its extremely unlikely that I am going to take it. I will be playing this real tight and banking on the marked blue PPZ to hold. If it doesn't I am out for a partial loss, and if it does then I am looking forward to the first trouble area getting hit. {image} g.Ignored
Disliked{quote} so here is the close of today. I am closing the position as there is nice counterpin on H4 and planning to go long from here but having some concerns on near FTA being the large area on the left shoulder... lets see. maybe EURNZD H4 is better to go... {image}Ignored
Disliked{quote} That's a really nice swing point and a good looking fake out. I do have some issues with space on this one though... g.Ignored
Disliked{quote} It's probably me being an old curmudgeon, but didn't we used to call these pin bars in the good ol' days?Ignored
Disliked{quote} We do have a close below the PPZ. I am in on this one. You can see the stop above the pin bar high but its extremely unlikely that I am going to take it. I will be playing this real tight and banking on the marked blue PPZ to hold. If it doesn't I am out for a partial loss, and if it does then I am looking forward to the first trouble area getting hit. {image} g.Ignored
Disliked{quote} Like I said, I was playing this one really tight. Out on the 4H bar close above the blue PPZ. This one's a half bar loss. {image} g.Ignored
DislikedS&P500 DAILY Price broken out of the trendline followed by a period of consolidation. This is followed by a buob breakout of the consolidation box. DJ30. Setup is similar to that in S&P500. Price has broken out of the brn 15600 which is a major resistance level. This is followed by a period of consolidation. Finally, there is a buob breakout of the consolidation box with a retest of the middle of the consolidation and brn 15600. {image} {image}Ignored
Disliked{quote} {quote} {quote} Just a quick little update. Price did stall at the trendline which is a good sign. Would like to see price move down today atleast/possibly stopping at the marked horizontal support level (second from the top). Idealy price will continue to move down/stall and the break will occur next week (considering its wednesday today) {image} Take care DanIgnored
Disliked{quote} Hey, just a little update Price stalled/retraced as expected but tbh was looking for a deeper retrace with a breakout occuring early next week. However I will continue to watch how price closes today ..Would need a nice strong close above (taking into account the BRN), smooth retrace and PA to trigger me into a long position ... {image} Take care DanIgnored
Disliked{quote} Neytiri, These Indexes could very well shoot up even higher the way the markets have been acting BUT Right now we are at all time highs and for me there isn't much of a story. I see you drew that ascending wedge/ consolidate pattern but for me, not really sure if it fits in there. The bars are nice and big which is a plus and you have some consolidation below which is why it can still work. I personally wouldn't trade it but who knows. Just giving you another perspective.Ignored
Disliked{quote} I appreciate your comments. Actually, it is at a swing high and Ghous might spank me for that Mike had posted a similar breakout setup few posts ago and it helped me take the decision to go long. Post 128,735 Thanks, NIgnored
Disliked{quote} Hey, just a little update Price stalled/retraced as expected but tbh was looking for a deeper retrace with a breakout occuring early next week. However I will continue to watch how price closes today ..Would need a nice strong close above (taking into account the BRN), smooth retrace and PA to trigger me into a long position ... {image} Take care DanIgnored
DislikedHello everybody, I have that nice two-day pinbar off major level on the aussie... any thoughts? http://charts.mql5.com/3/65/audusd-d...i-uk-ltd-2.pngIgnored
Disliked{quote} A pity, but Loosing its charm for me. Somekind of nontraditional PA to the upside may occure.Ignored