so that is what all this pin stuff is about, nice collection B
Bundy's status today: "Waiting..." 
james16 Chart Thread
- #58,881
- Mar 22, 2010 6:15pm Mar 22, 2010 6:15pm
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
- #58,882
- Mar 22, 2010 7:23pm Mar 22, 2010 7:23pm
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Thanks bro.
this one i like better.
- #58,883
- Mar 22, 2010 10:26pm Mar 22, 2010 10:26pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
I am wondering if any of these potential PB setup is better than the others in terms of confluence strength. All 2 bars are the same relative to each other in each of these 4 setups only the BRN level is different (relative to the bars).
Is there an order we can rank them in terms of quality of setup or are they equally good?
Appreciate any comments.
Thanks.
CY
But I would need more Info. Are they at a swing high or low? How much space do we have here? PPZ levels? Retracement levels? What's the Weekly look like PA wise, assuming these are Daily bars.
PA at BRNs are a good thing but give me more supporting confluences to make my decision easier.
Indicators show the past. Price Action "Indicates" the future.
- #58,884
- Mar 22, 2010 11:08pm Mar 22, 2010 11:08pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Awesome!
...& here's something further back.
noticed this in early January while tinkering with charts.
let's see what it does in the future.
orange lines are line chart-based.
the first & last pinbars are both March formations.
the middle blue box shows a 2-week PB.
Attachment
Indicators show the past. Price Action "Indicates" the future.
- #58,885
- Mar 23, 2010 12:15am Mar 23, 2010 12:15am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
yeah I know that ppz it's heading into, wait for a larger break? make a better buffer....
I believe it (Weekly PB in blue) still has potential but I will be manageing it tightly by waiting for the hard break up through the PPZ level then a pull back. Or some solid Bearish PA at the PPZ level wouldn't be bad either.
Jim
Indicators show the past. Price Action "Indicates" the future.
Thanks Trig, Good story.
Especially liked this bit...
"He decided that he would take every trade entry signal his system gave him and follow his trading plan as if his life depended on it.
As if, after each trade was closed out, he had to stand in front of a panel of super traders, and explain his actions to them - why he entered where he did, where he placed his stop losses, why he exited when he did.
[color=blue]And if they weren't convinced he followed the rules of successful trading, he would...
, and convince them that I have enough reasons to take the trade. Thanks for the tip.
- #58,887
- Mar 23, 2010 1:12am Mar 23, 2010 1:12am
Yeah, Price tends to do that at strong PPZ levels. Meaning that we have a PPZ level, then Price breaks through it hard then Price respects it again.
I believe it (Weekly PB in blue) still has potential but I will be manageing it tightly by waiting for the hard break up through the PPZ level then a pull back. Or some solid Bearish PA at the PPZ level wouldn't be bad either.
Jim
I read frequently about price breaking hard through a PPZ and then retrace but don't quite understand how one could trade it. For example on the chart of your post above, the big bearish bar piecered through hard the PPZ level and then it acted as resistance after the following few bars. In this case where would you enter short? Do you wait for a break of the big bearish bar or do you anticipate the retracement (immediately after the big bearish bar) back to the PPZ level and enter short there?
Looks to me that there are a few ways to play this short.
Appreciate your comments as usual.
CY
- #58,889
- Mar 23, 2010 1:32am Mar 23, 2010 1:32am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
- #58,891
- Mar 23, 2010 3:17am Mar 23, 2010 3:17am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
arctos,
Nice 'chips'.
there u go, ertorque.
Nice 'chips'.
there u go, ertorque.
- #58,893
- Mar 23, 2010 3:53am Mar 23, 2010 3:53am
- Joined Apr 2009 | Status: Trader | 2,891 Posts
will she jump on 1098.11 and give us some PA in 1H-4H.
Lets see.
.
I mean somthing like this.
.
- #58,895
- Mar 23, 2010 4:00am Mar 23, 2010 4:00am
I mean somthing like this.
.
And this one didn't even end as a pin, so next
- #58,896
- Mar 23, 2010 4:01am Mar 23, 2010 4:01am
ertorque,
i believe Sir jarroo is out.
so if i may...
u can enter a trade via a PA setup of the PPZ. a PA setup can occur in any timeframe, but since we advocate sticking initially on Daily & higher timeframes, then we look for a PA setup on Daily & up.
in the $chf chart, for example purposes & to answer your question, u wait for a PA setup (PB, etc) on/off of that Blue rectangle ppz, to go short.
Hope this helps
Glad to hear from you.
Well, if I may ask you, is there a PA setup in Jaroo's chart to initiate a short? I mean one like you said " wait for a PA setup (PB, etc) on/off of that Blue rectangle ppz, to go short." ?
After that massive bearish bar, PPZ did act as support but I do not see any PA to go short since that big bearish bar. The only setup that stands out probably is the PB which signalled a potential price reversal back to PPZ level, am I right?
This has been said many time but I 'll say it again, you guys really are
very helpful
CY
- #58,898
- Mar 23, 2010 5:06am Mar 23, 2010 5:06am
Congrats Ben
I know how you're feeling. I remember that day as one of the greatest days in my life.
Also it made me take half of my position off. Did not know when I'm coming back so trailing became a problem. second half BE.
Hope everyone around here is doing well
