DislikedJ - I thought it was the body of the candle we looked at rather than the wicks for these or do I misunderstand.Ignored
Mike
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedJ - I thought it was the body of the candle we looked at rather than the wicks for these or do I misunderstand.Ignored
DislikedJ - I thought it was the body of the candle we looked at rather than the wicks for these or do I misunderstand.Ignored
DislikedIts the wicks or the bodies, as long as the Highs match. We don't see them often match up exactly. Some people, like myself, will give some leeway by a few pips when they don't match exactly. Like this one on the Aud/Jpy Weekly.
edit: Thanks Mike. I haven't seen to many body Highs match very often. lolIgnored
DislikedIts the wicks or the bodies, as long as the Highs match. We don't see them often match up exactly. Some people, like myself, will give some leeway by a few pips when they don't match exactly. Like this one on the Aud/Jpy Weekly.
edit: Thanks Mike. I haven't seen to many body Highs match very often. lolIgnored
DislikedFunny you say that but actually there is something interesting. When a candle/bar closes at its very low, or closes at its very high. Meaning the high = the close, or the low = the close. There is a large tendency for price to reverse on those bars. I read it from Larry Williams, and I never really got around to much testing, but it is pretty interesting at the right places
MikeIgnored
DislikedSo in forex I'm guessing this pattern doesnt appear too often? What I meant earlier by no gaps in forex making engulfing patterns more rare is just that: often in stocks I would play...
I would see an uptrend, a gap up and then a retracement down past the previous candle. Without these gaps, it seems like the formation would be relatively rare in forex?Ignored
DislikedWould you consider the second-to-last bar bearish engulfing, Mike? I plan to give this trade a relatively loose stop basedo nthe assumption that the engulfing formation + bounce off resistance and try to ride a decent pip move.
edit: I realize the engulfing pattern isn't at the exact R level, but looking at the level it seemed clear a rise past it had failed.
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DislikedGoing over old posts, or just remembering old posts, and following up on them is healthy. I think it's funny how a lot of my older posts came true, yet I didn't follow my own advice
Although this week... I have been just traveling all over the southwest of USA... I don't think I'm going back east, ever.Ignored
DislikedYou are making this WAY too hard, I bet you have a engineering background ggggggg.
Attached is a pic of your chart.
Attached ImageIgnored
DislikedWhy is it every time I pop in to say hi, this thread is in a different sub forum?
Anyway, greetings to all.Ignored
DislikedHealth care, search engine optimization, asp.net, the craziness in greece. Not that anyone really cares about such things, but since you asked.Ignored
DislikedHey Ant
I knew it was a false breakout when the BEOB formed. That is part of what we can glean from a bar like a BEOB. I was simply watching the 85 area. Price consolidated, gave a large beob.
Best
MikeIgnored
DislikedWhy is it every time I pop in to say hi, this thread is in a different sub forum?
Anyway, greetings to all.Ignored
DislikedHey Mike,
So, the term 'false' in false breakout is coined because price in ethe BEOB overshoots previous highs in the blue consolidation box before coming down fast, rite? (still a little slow in picking up the terms)...Ignored
DislikedHey CY...
if i may:
the term 'false breakout' can be used in other trading conditions (not just in the range breakout example)
it is 'false' because it moves in one direction only to reverse to the other, real direction.
Hope this helpsIgnored
Dislikeddoesnt matter...
pin bar, IB, I5B, BEOB, BUOB, etc.
Just trade accordinglyIgnored