Quoting scpeterDislikedSee, it just goes to show you. If you ask the right person the right question, you get a great answer. Jim, thank you sir.Ignored
Where can I learn more about Price Action like those in James16 charts? 9 replies
Quoting scpeterDislikedSee, it just goes to show you. If you ask the right person the right question, you get a great answer. Jim, thank you sir.Ignored
Quoting AnparDislikedPrices are heading towards a weekly fib (50), Price action shows a dblhc with support from a 55sma. Do I make this trade and look to exit at or around the weekly 50 fib level or should I not?Ignored
Quoting AnparDislikedPrices are heading towards a weekly fib (50), Price action shows a dblhc with support from a 55sma. Do I make this trade and look to exit at or around the weekly 50 fib level or should I not?Ignored
Quoting AnparDislikedThanks James for your comments.
Slowly but surely I'm adding new things to my charts. I was looking to go long on that trade, but prices could never close above the 4hr trendline, thus I stayed away.Ignored
QuoteDislikedI am starting my new job tomorrow, as an English teacher for fifth graders
QuoteDislikedp.s. My week starts on Saturday, incase you were wondering how come i am starting on a weekend[img]images/smilies/wink.gif[/img]
Quoting IsotonicDislikedHi Jim,
I've been thinking over about what you've said about looking for these levels and have a few questions if you don't mind!
1. Do you prioritise them so that monthly/weekly is before weekly/daily, weekly/daily before daily/4h or perhaps weekly/4h and so on?
2. Which combinations come up most often in your experience?
3. Fibs or pivots or fibs & pivots? Is one combination better than others?
4. For pivot points do you use 1 period or 'n' period rolling pivots. I tend to use 3 period rolling pivots. Again which do you prefer?
Thanks in advance for all your replies!Ignored
Quoting james16Dislikedi have no idea what rolling pivots are. or if i do i call it something else. i use a standard pivot calculator, downloadable from many places on the web. its the same calculation mentioned by merlin in another thread. jimIgnored
Quoting diallistDislikedHi Jim,
Rolling pivots provide two pivot lines, upper and lower, which define a pivot range. The pivot range can be used to identify breakouts, i.e., the price moves above the upper or below the lower pivot to signal a breakout. The range can also be used to help confirm the current trend, i.e., if price is above the pivot range the the bias is bullish, and if price is below the pivot range the bias is bearish.
Here's how to calculate the pivot range for a three day period:
* Three-day rolling pivot price = (three-day high + three-day low + close) / 3
* Second number = (three-day high + three-day low) / 2
* Pivot differential = daily pivot price – second number
* Three-day rolling pivot range high = daily pivot price + pivot differential
* Three-day rolling pivot range low = daily pivot price – pivot differential
To make this "rolling": each day drop the oldest bar and add the newest bar. You'll calculate daily, using the three most recent daily bars.
Dial
PS. If you want, I can make an Excel calculator to do this for you. Let me know.Ignored
Quoting scpeterDislikedNice post Diallist. Do you like the rolling pivot better than the regular pivot levels? Do you use 3 day rolling pivots or have you found other numbers that work better?Ignored
Quoting diallistDislikedTo be honest, it is only by coincidence that I happened to read an article about pivot ranges only yesterday. So obviously, I haven't any experience with them yet.
Here's the article. The part about pivot ranges is near the end.
http://www.investopedia.com/articles.../04/040704.asp
DialIgnored
Quoting RBingDislikedJim, is that a perfect set up on the daily GBP/USD? I have it right off of the 38.2, weekly s2 and looks like we could get a dlhc.Ignored