I'm currently watching the 1.38 area..
price has been really consolidating in the box...
price has been really consolidating in the box...
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHi guys
How about GBP/NZD
I see confluence with 50% fib, double top, former resistance, BRN 2.0200 and Pinbar forming with space to the left.Ignored
DislikedHere is an example where I am playing a pullback with a pinbar to a PPZ more then a breakout, but it also has the Breakout too it(see boxing).Ignored
DislikedWow Mike
I read about 3 times your posts (I am ashamed to write the real number ;-)), and everytime I do it I learn something new. I see my charts, read your post again, and everytime I learn something new. It is amazing.
The way you see things is important, because this is the way everyone should do it. Anyone can be lucky once, but there is no such thing as being lucky everytime.
Thank you very much for your colaboration. Like PinBar wrote yesterday, without you and Jaroo, James16, and many other in here, so many like me would be...Ignored
DislikedOkay since I'm a beginner who has recently quit my job to become a full time trader, I need all the help I can getIgnored
DislikedHello,
This is my first post at this forum. I had taken a trade on GBPNZD based on the concepts James has taught. I am not sure if it was a good enough trade, so wanted to have the opinion of you guys.
Reasons for taking this trade:
1) Resistance at 2.0590.
2) 50% Fib retracement. I have not drawn it explicitly so as to keep chart tidy.
3) Long term trend pushing the market down.
4) 365 EMA acting as a resistance.
Next day when the markets opened in Monday, it gapped down. The Inside bar was "triggerred", and I entered the trade....Ignored
Dislikedwe got our trigger in the form of a pinbar(notice it is at a swing low ). I am posting this as a follow up though
and I am referencing this chart/post as a follow up to
Here is an example where I am playing a pullback with a pinbar to a PPZ more then a breakout, but it also has the Breakout too it(see boxing).Ignored
DislikedMike,
Can u give your critique on 2 possible (past) setups marked with arrow on EURJPY? Both are PB are pretty good PPZ, would you have taken the trades in spite of the congestion zone? This is on H4, but regardless, such patterns may occur on daily/ wkly, so looking back at these setups just as learning experience. Thanks!
edit: the first one is actually a BUOBIgnored
DislikedHey Mike,
I was looking at this setup too, looking like H&S as well. However, didn't enter as I thought there was a FTA nearby. I edited the chart you posted to show the area highlighted (on the left) where I thought the FTA wld be. Pls help me understand why this area is not a FTA in your opinion or perhaps this FTA is not impt?
Also can u pls take a look at this? http://www.forexfactory.com/showthre...74#post5132974
Thanks!Ignored
DislikedHey FX
I like the BUOB since it is bigger here, but both are fantastic areas too watch. And location trumps ALL. So the first I like but the second I would not be taking myself based on some rules.
Your areas are fantastic here
MikeIgnored
DislikedHey FX
I assume you mean the low of your "box" If so yes this is the FTA. Which is right where price has stalled a bit. So yes that FTA is important but the overall story is stronger. At this point I moved my stop to greatly reduce my risk above the BRN. A FTA doesn't have to scare us out of trades it's about taking that information in and processing it based on how you want to use it. Just like our entries we do the same. I now have a bit of locked in profit and seeing if this thing can fall some more
Best
MikeIgnored