Nice little H4 IB with plenty of confluence.
TP and am BE+
TP and am BE+
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedOne more interesting chart - EURAUD daily. Tuesday was a long wicked bar at the Weekly / Daily swing level, and could not close above. With yesterday's Germany GDP data, we had a nice daily engulfing bar up at the top. The trendline is very steep, and looks broken. AUDUSD is also at an extreme low level, so any correction in the AUD would see this pair drop. If you zoom into 4H, there is an SR level at 1.3050, which is a nice psych level. FTA is at the 1.3000 BRN, so not a lot of space, but this could be a significant double top. I'm waiting for...Ignored
DislikedThanks for the reply mbqb11...i have just started to draw the ppv levels on my chart and the problem is that somehow i get quite alot and then i am not able to place trade off them as they are too close and there is not enough profit zone or space. i know i am not drawing them properly. i mean at times i do locate the pin bar, BEOB, BUOB on these ppv but mostly it goes right up to the next ppv zone or very close to it and i cannot enter cos i feel that price will just reverse. i am confused. i am...Ignored
Disliked{quote} great use of confluence steve, nice trade you got there Best MikeIgnored
DislikedHi Mike, I was just wondering what your thoughts are on the potential pattern that is forming. As it stands I dont consider this a full pattern. Im looking for price to continue towards the ends of the trendlines before I consider it a playable pattern. Looking to play this to the short side considering the divergence. The lower trendline looks nice but would like to see another touch off the upper trendline. What are your thoughts mate ? Also when playing a pattern do you like to see at least 3 touches on both upper and lower trendlines before...Ignored
DislikedGreat Thread! Been lurking for a while here.. Daily pin has formed on Uchf, stop is at BE {image}Ignored
Disliked{quote} Looks good to me Dan. The bottom TL is more important there for a breakout type trade. The top would more more important for a divergence reversal play. Both are valid locations to look for trades in my book. Your lower TL is fine to me. Price broke out just no good PA so we sort of just let it go i now. Size of pattern looks good to me. Valid for entries on the hourly and 30 min. Just nothing there Best MikeIgnored