I would like to see the open/close higher up on the bar. It looks more like indecision to me. But hey it could work just the same.
But not an A trade, as I see it.
Cheers Jeff
But not an A trade, as I see it.
Cheers Jeff
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedI would like to see the open/close higher up on the bar. It looks more like indecision to me. But hey it could work just the same.
But not an A trade, as I see it.
Cheers JeffIgnored
DislikedEven if the open/close were at a good level (higher up on the bar) the pin overall isnt perfect. (but my criteria have become very strict over time)
I'll tell you a couple of things that I don't like about the pin.
Overall price is in a downtrend. Back in the beginning of November it dropped very hard. The price retraced upwards, but the last few days it dropped hard again. So there seems to be plenty of selling strength.
The other thing is that resistance/ price pivot area at 2061.50.
But if the pin looked better, I'd consider it.Ignored
DislikedHi MoneyBags,
Couple of questions
1) Isnt the longer term trend indicating an uptrend ?(since aug 2007)
2) Area around 1989 seems to be a strong support area, as indicated by the price reversals that happened during 1st and 3rd week of November.
Also confirmed by the long lower shadow of this neutral bar .
Does it not indicate that support held this time also ?
3) there is no immediate traffic around this bar .
Thanks.Ignored
DislikedJust to add something.
What I would really like to see happen is: Price move up over the next few days to around 2069 and then create a sell pin bar. That would be great.
Swingtrader makes some good points.
Just by looking at this chart, it doesnt qualify as an uptrend.Ignored
Dislikedwe will be opening our guest chatroom within the next week so that those of you that follow this thread can interact from time to time. this has no charge and has merlins approval. when it opens i will try to stop in at least every other day and time permitting ever day. we will also be doing scheduled free guest q/a sessions soon.
jim
www.james16group.comIgnored
DislikedIB on AUDUSD daily. Intermediate trend bearish. Consolidation happenning around 150 EMA and around PPZ. Looking to go short on the breakout (on demo acct). Weekly trend also clearly showing bearishness.
Are my observations correct ?
ThanksIgnored
Disliked
Remember, it is where these PA bars occur that is the most important thing.
Ignored