You brought Mike back on track.
I believe . . .
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedI am looking at it as a short for sure.
This is just like dealing with a 2 bar pin bar or any other PA bar. so when a pin bar occurs after a pin bar it is only considered a 2 bar pin bar and does not loose it's authenticity, same goes for an IPB.
@TAC
IPB would be an inverted pin bar not an inside pin bar.
Regards,
Ghous.Ignored
DislikedWe have this Daily IPB on NZD/USD.
If the Price breaches the 0,6400 and the low of the IPB we have a good signal to short the pair.
On H4 we have a fine PB that confirmed the IBP on the Daily, but don´t enter at the break low of this PB because it´s above the 0,6400and the 61.8 Fib.
Wait and be patiently for the break of the level and the low of the Daily IPB.
Hope i anlayze this correctly, we´ll see.
It´s only my view .
Trade well
MartinIgnored
Dislikedye wot ghous said,
the bars show that the bears tried to take over but didnt quite succeed.( the lower shadow) but the fact that the bulls were unable to continue to push the price higher again shows that it is possible the upward momentum is over?? these bars are not a reversal bar like the PB but can still show the turning point. confirmation is nesesary to show that the bears(in this case) have indeed begun to take over.
to me they are very similar to IBs, except, (this is just my thinking i dont know how correct it is,) that i would be wary...Ignored
DislikedBeen searching around a little on FF and google but haven't found much yet....Ignored
DislikedGood luck with that. Taxes are getting worse and more complicated every year. Sometimes I wonder if we aren't better losing, and taking the trades as write offs?
Ignored
QuoteDislikedOriginaly postet by Bryan
Martin,
Help out a newbie.....
I've got an IB/bullish pin daily, DBLHC weekly, and IB/almost bullish pin monthly. Why are you looking to short?
Bryan
DislikedHi Bryan
I´m a newbie too and it was more a question than a ascertainment.
Now when i see your view of the NZD/USD charts, i´m not sure about my short.
ThanksIgnored
QuoteDislikedOriginaly postet by mbqb11
That's ok. That is part of it. Learning and demoing while you get used to what works and what doesn't for you......
Mike
DislikedOK, let me ask before Ghous answers. See this is a perfect example of what I meant by being mystified about these bars.
Since both of them were unable to break (close) the previous bar, and with everything else you mentioned, this would be a shot at a short? Or because buyers were able to push them back up after a series of bullish climbs in previous days, a long? My thinking is this is a nice retrace and a shot at going short.
Geezzz SO much to learn....Ignored
DislikedHey, im a longtime lurker on FF, this thread in particular (thank you james!) I started trading a long time ago when i was younger, didnt get too far and just stopped altogether after losing some money.
Anyway, ive been demoing again for the last few months with a completely new mindset, following J16 advice to the T (plan your trade, trade your plan).
I dont have a SS of my charts yet unfortunately, but im looking at the AUD/USD Daily and Weekly
The Daily has a PB off a short TL, but the Weekly has a BUOB that ive been looking at since...Ignored
DislikedBeen searching around a little on FF and google but haven't found much yet....Ignored
Disliked... I believe 40% is capital gains tax? Do any of you operate as a sole proprietor so you can write off certain expenses? Any good resources for the legal and tax issues related to traders?
I know this could be a whole discussion somewhere else but I was just wondering if anyone here had some insight. Feel free to PM or e-mail if you don't want to take up space in this thread.Ignored