Your retest confirmed as price breaking out of that triangle , stiff resistance due anywhere between now and 1.63 round number ! if you look at your weekly you ll see your PPZ areas very clearly in another triangle.
Cheers
V
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedIgnored
DislikedNice! Let's not ignore the exotics.
Edit: No, I did not catch that Pin BarIgnored
DislikedI got some PMs around the same topic and the answer is more practise and then more practise . .to see these setups over and over again.
Soon it will be like riding a bike . .
This kid says it the best . .riding a bike or trading . .. . you gotta love the remix . .
The original . . . http://www.youtube.com/watch?v=vTiZY...eature=related
The mix . . .http://www.youtube.com/watch?v=jbGrhqFx_tcIgnored
DislikedHi Jim
This is the last trade I demo after our pms I have been trying to find more confluences before jumping in
This trade on the USD/JPY had a HCR @ 81.02 obviously that is a BRN too, it had the 365 EMA just below at 80.80 and was also at the 38 fib level from the big move up that started on Feb 1st.
I waited for the confirmation bar this time which was on the 23rd april and then entered on a touch trade from 81.02. I closed 3/4 of the trade at the FTA 81.56 which is the next HCR the rest is now a free trade at break even and I hope it may push...Ignored
DislikedI was watching the USDJPY its on 80.86 and a double low higher close formed on the daily yesterday, and 8 hour i entered today and gained 30 pips and I took pofits and exited now its retraced the gains. How long does anyone think it will gain more and break the current reisitance or is the downtrend resistance going to result in a breakout sell? dont know if I'm asking the correct question, but anyone take on this is welcomed...Ignored
DislikedHey Raf
Just be very careful here as this pin is at a deep swing low. Remember we want to stick to them at swing highs when learning them. The reason is in this case we would be trading right back into the point of buying. Sellers were absorbed but with a close like that and right near that bottom often we can spring right back higher. Just be careful with these when starting out
Best
MikeIgnored
DislikedHey Trini
This is similar to my previous post. We want to find DBLHC down at swing lows where this one is right near the swing high or the last point of selling right around .70 mark. So these get people into trouble without stronger confluence as we buy the high and we are really buying right into the selling point. Look for these at nice clean swing lows with space when starting out they are much easier that way
Best
MikeIgnored
DislikedI was looking through my charts tonight and nothing really jumped off the screen at me...at least not in the current markets. I did notice a past bar that jumped off the page at me, especially considering how many continuation set-ups that are being posted. Markets are mostly consolidating and pretty tricky right now (at least for me).
Anyway, here's what I would call an A++ weekly outside bar set up from 2007. It was at an extreme swing high, engulfed 3 bars, had a strong close indicating momentum, test and rejection at a BRN (.8000). Looking...Ignored
DislikedYour welcome (or lack of) seems a bit harsh to me if i'm honest. Could you perhaps expand on what you've been up to this last 20 years if you felt the need to ditch TA and go into indi's/EA's?
either way, you've found the right place to help you. Lots of nice folk here.Ignored
DislikedHi Jim
This is the last trade I demo after our pms I have been trying to find more confluences before jumping in
This trade on the USD/JPY had a HCR @ 81.02 obviously that is a BRN too, it had the 365 EMA just below at 80.80 and was also at the 38 fib level from the big move up that started on Feb 1st.
I waited for the confirmation bar this time which was on the 23rd april and then entered on a touch trade from 81.02. I closed 3/4 of the trade at the FTA 81.56 which is the next HCR the rest is now a free trade at break even and I hope it may push...Ignored