DislikedAdidas weekly, short play to RNB,PPZ @ 4400, tight stop few pips above RNB @ 4600.Ignored

g.
I believe . . .
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedAdidas weekly, short play to RNB,PPZ @ 4400, tight stop few pips above RNB @ 4600.Ignored
DislikedThank you for letting me know your view of consolidation. But when you say more concrete.. is it close to 20 bars or so ? I am just trying to get some quantitative aspect to start with.. though this alone may not drive the trade.Ignored
Dislikedfxtsun
Do you see on the pic how the high is higher then the previous bar and the low lower then the previous low?
And the close of an BUOB musīt be higher then the previous candle close
And the close of an BEOB musīt be lower then the previous candle close
Hope it helps ;-)
So i go sleep its late here in germany good night ^^Ignored
DislikedNot to be a party spolier, but it makes me wonder why indecision alone should be enough a signal to go short?
g.Ignored
DislikedWell lemme explain a little more in detail...
I didn't want to make you guys yawn so didn't write this down in the post.
...Ignored
Disliked(looking exclusively at your chart)
IMHO, an indicator divergence should Not be part of a trader's main reason to take a trade.
WHY? divergences get killed in strong trends.Ignored
Dislikedbtw, u incorrectly plotted your RSI divergence. (im referring to the left part of the RSI div.; it does not correspond to the price div./ 4/4/2010 pin)Ignored
DislikedIt is...but pretty insignificant if you're looking at it as a trading opportunity. Far too small (IMHO) vs a decent move up.
g.Ignored
DislikedI mean clearly to me it's more of a bar that is indicating a pull back to the 1.4 after that close above the level.
g.Ignored
DislikedThis is not the first time I've said it...but a price bar even a J16 one is a single page of a thick interesting, thrilling and exciting novel. No matter how attractive the text on the page looks it has little value to offer if you read it in isolation to the text on the many pages before and after it.
g.Ignored
DislikedIt is...but pretty insignificant if you're looking at it as a trading opportunity. Far too small (IMHO) vs a decent move up. Notice also that it wasn't exactly "off" the BRN was it? I mean clearly to me it's more of a bar that is indicating a pull back to the 1.4 after that close above the level.
This is not the first time I've said it...but a price bar even a J16 one is a single page of a thick interesting, thrilling and exciting novel. No matter how attractive the text on the page looks it has little value to offer if you read it in...Ignored
DislikedOk. Noted.
What do you mean here ? It is off of the 1.4000 BRN and stopped below 1.4100 BRN.
That's what it did.
Yes. I did read similar comments about reading the price actions (before and after) as a whole book rather than a single page (specific to one bar).
I am realizing that this is the toughest part which comes with experience.
When I noticed the bar, Yes, I did see the uptrend with couple of big vertical bars .. coming from 1.25 (retraced to 1.30 when reached to 1.37)....Ignored
DislikedHi Ghous,
I was also looking at this pair. But my thoughts were to put a sell order at around 1.3990 (below the 1.4) so that if price breaks below the 1.4, it should hit the FTA of about 1.3940 for a quick profit of 50 pips. Any comments on this?Ignored
DislikedWell lemme explain a little more in detail, in the attachement you'll see Adidas reaching the RNB @ 4600 in may 2009 via a bullish bar with a lot of momentum, but the week after that this bullish momentum completely dissipated via a indecision bar and price entered into a consolidation zone rougly between the RNB's 4400 & 4600. The question was then are we going higher than 4600 or are we going lower than 4400, during this period the difference between supply and demand is at a minimum. Then mid june 2009 price breaks rapidly out of the consolidation...Ignored
DislikedI agree Pb .. .good analysis . . well done. . .
I like your chart of Price breaking out of this consolidation (yellow) and where Support turning into Resistance.Ignored
DislikedHi, Maarc and welcome to this Great thread.
Yes, you are wrong in as much as PINBAR is not a senior, just an earnest newbie.
I think this area is problematic, in as much as, a weekly bearish PB type bar just closed. It is not a valid bearish PB PA bar but it is a bearish bar by nature of the close. The close is sitting right on the RN. I think the area we are at on the daily with all those lows lining up is a possible flip area in the making. We want to see any bullish PA close above that area on the daily and any bearish PA come off...Ignored
DislikedInteresting,
I do play indecision bars (occasionally) myself but that's when they point towards the continuation of a strong trend and occur on weak pull backs. Wanted to know your thought process when playing them at swings and genuinely against the current.
Thank you.
g.Ignored
Disliked(looking exclusively at your chart)
IMHO, an indicator divergence should Not be part of a trader's main reason to take a trade.
WHY? divergences get killed in strong trends.
divergence is part of the 'confluence' category, IMHO.
price may drop from here but i felt the need to point this out.
btw, u incorrectly plotted your RSI divergence. (im referring to the left part of the RSI div.; it does not correspond to the price div./ 4/4/2010 pin)Ignored
DislikedHello Mike
I am currently watching a good short opportunity on this pair. It is on its all time high PPZ, and there is also a divergence in MACD on the weekly and there is also some sort of triple bar high low close. But i am circumspect in taking it until it crosses 1.30 BRN. Would like you to see it and present your opinion. It would be very beneficent.
Regards
MaarcIgnored
DislikedHey Maarc
There is no divg on my MACD as both price is sloping down as well as the MACD. I see a very weak closing small pin towards previous resistance. TO me this is reactionary as opposed to true strength and there is a ton of support below. I would not touch this one based on that signal at all. Need to see something more concrete before fighting the recent uptrend. Daily is nothing more then a bearish day on a friday, so not much more there either. I would wait to see price get up higher.
Best
MikeIgnored