a great improvement imo.
jon
PATIENCE... DISCIPLINE
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedIs anyone watching the pin bar forming on USD/CHF daily. How does it look in your opinion? It is at 50 fib retracement level as well as previous support.Ignored
DislikedHello everyone,
Here is a trade which I would have considered if I hadn't been at work during the time of occurrence.
I'd love to hear what everyone thinks of it.
This trade might also appear to be a triangle breakout (please correct me if I'm wrong). It also shows zones transforming from support to resistance and vice versa.Ignored
DislikedInteresting thing is that it found support on the last swing high. Its gonna be interesting to see how the things will evolve.
Attachment AttachmentIgnored
DislikedHey Lallous
I think zoomed in it feels a bit more important then if you zoom out there isn't a whole lot to it....Ignored
DislikedHey Pub
I think this is a very unconvincing pinbar. It would barely be closing within the prior bar and has a very large body. Don't let a long wick fool you into thinking it is a strong reversal. This too me looks like price hit the BRN and bounced. As opposed to a strong selling(which a strong close would have shown us). Now imagine price closed down near where it opened? It could change the entire look.
Hope that helps
MikeIgnored
Dislikedyou only get pay if you take the risk.
so whats gone be a rebound and a resume of the current trend or a reversal is in developing. try to feel the market pulse.
the line of least resistence is to the upside,isn't so? but not forget about nature cycle, what goes up at some time must come down. But an object in motion will tend to continue in motion until a major event takes place that would cause it to change its direction. How do you take up on this dilemma
so where price comes from and where is heading into?
The possibilities of the of...Ignored
DislikedCan we count this one as pinbar by proxy?
I mean the last one, ignore my previous chart notes.Ignored
DislikedThe possibilities of the of the bear attack is not gonna come..Ignored
DislikedThis is immensely helpful Mike and really clears up a lot for me. I really thank you and fellow posters for patiently answering my questions. It feels so good to get the questions out of my chest. I shall take on all the info onboard and learn.Ignored
Dislikedit just means that poeple who use oanda as there broker can now trade directly from there charts rather than using an mt4 chart to analyze and swapping to oanda to place an order.
a great improvement imo.
jonIgnored
DislikedOk, thank you for your patience and time Jim.
When you say you look for weekly close when working on the daily.
You look for last Friday’s close and if you determine that it had a strong close above the PPZ you look for bullish action daily for that week and the opposite of it was closed below.
If the daily starts closing in the opposite direction you change your bias.
E.g in the attached USD/CHF example you are looking for some bullish PA atm.Ignored
DislikedThis suggests some weakness to me and I should just stay out. Thoughts?Ignored
DislikedHey Jim,
I would rather look at lower timeframes because this was impulse reaction to better cpi data. There are some nice symmetrical patterns at the breakout point on m5. News traders use lower tfs hence one H1 bar wont give much information... Just my 2c.Ignored
DislikedThanx for the quick feedback Jim and for reminding me to look at the weekly TF first for S/R ......... I nearly always forget to look at those higher TF's firstIgnored
DislikedOh Yeah . ..if you're bring the PA from the Higher TFs down to the lower TFs . . you got to bring the Levels too and the Targets, FTAs, etc., . .Ignored
DislikedNot sure if anyone has posted this yet -if so my apology
Gold. Huge weekly BEOB and PB are still in play. On 4Hour found a bearish PB at 50% ret of the weekly PB, off weekly PPZ and retest of Daily BEOB previous bar low along with 365 ema. Very nice. If this 4H PB breaks i am gonna hold and see if the weekly PB also breaksIgnored