S&P500
Rising wedge on the Daily. Short opportunity arised on the 1hr earlier, but missed it.
Rising wedge on the Daily. Short opportunity arised on the 1hr earlier, but missed it.
Keeping it Simple
Where can I learn more about Price Action like those in James16 charts? 9 replies
Disliked{quote} Location is interesting for sure, as on the 4 hr and the daily we are at a price where you might say there was a good bit of supply, most recently at end March. Trend looks like strong up on daily and weekly for the moment but I guess the bearish PA would need to break and engulf the 1.8850 area first but there seems to be so much traffic on the way down that TPs would have to be tight (you could argue it'd like to test the 1.8660 zone it just broke out of ). The more straight-forward move would be following up a strong break of 189.40,...Ignored
DislikedHabeeb, I was short but got out for the weekend. Last four days on the daily, spinning top, Bearish outside bar, Bullish pin bar, bearish pin bar, all with a 550 pip 4 day range. I am new to forex, been trading penny stocks for a couple years. Like Jim's style of signal trading but how do you read that, Just volatility or what?Ignored
Disliked{quote} Indeed FP. Will be watching to see what PA does next week. Appreciating your charts/insight and efforts Habeeb. Thanks friend. I traded GBP/NZD D1 long on a PB from what was a swing high near weekly resistance. I got a few pips, but not a smart trade. I will look for shorts next week. I remember Jim saying words to the effect of....just draw your S/R levels at the start of the week and wait for price to come to them. I need to remember this. Keep it simple GB. Have a great weekend y'all. GIgnored
Disliked{quote} My pleasure GB. Easier said than done . I still have issues with this. But this is what Jim means when he talks about "rifle shots" .... being a "sniper". You wait for the perfect moment before pulling the trigger. You only need one shot to make a big kill.Ignored
DislikedThanks Habeeb, I'm pickin up what you are layin down. Like I said I am new to forex so I will be demo trading for the next 4 to 6 months (depending on profitability). My gains so far have been amazing, with my losses being almost as big. I am tightening my stops, actually using them religiously would be more accurate. Still I am up at this point I think what candlestick analysis does is give us incite to market sentiment. What do you think of GBP/USD? BeOB at resistence after a fair run. Looks like it will run into support around the 1.5525 area....Ignored