Of course not tradeable(is that a word?) now.
but when i posted it i thought it could close some 15 pips up.
.
lol
I believe . . .
james16 Chart Thread
- #60,201
- Apr 8, 2010 6:00am Apr 8, 2010 6:00am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
lol
- #60,202
- Apr 8, 2010 6:02am Apr 8, 2010 6:02am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Hey Ghous,
I see some discussion on IPB on charts posted lately. This made me study thoroughly your post on IPB introduction which I had stored in my T0-READ folder a long time ago.
I just wanna say good job there(although it has been more than a year already). The psychology that the IPB paints makes good sense.
Will add this to my arsenal of PA.
By the way, please check to see if the word "bears" in BOLD should read BULL or not? I think it is an typo error.
CY
Good observation, it's a typo. will fix it...
g.
I believe . . .
- #60,203
- Apr 8, 2010 6:21am Apr 8, 2010 6:21am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Hey Ghous,
Just wondering about the psychology involved in pin bars (or their variants)
Would you agree that the bar on the right (zoomed-in chart) is more bullish than the IPB on the left chart (let's assume both are in the exact same location). If so, could such bars be played as well as bullish PAs u think? Maybe also with entry at close and SL at the end of the long wick in this example?
P/s: Gentlemen of J16 thread, I know this is a bit off-topic but please bear with me.........
CY
When the trend is down, and a BEB fails to close as is and instead closes higher near it's open we look at it is a pin bar, it's important to us as price action traders because it hints us to a possible reversal (depending of course on the overall location) or a stall in the trend that can be skinned for $$$.
A bullish IPB posses similar logic. When the trend is up and price fails to make a high significantly higher...or better still...it fails to make a high any higher than the previous bar's high and instead travels below it's open as a BEB but then near the end of the day ends up closing near it's open, it get's the shape of an IPB, which shows that "although the bulls were able to defend their title, it was the first time in X bars that they were seriously challenged"...that challenge on the chart is nothing but the longer wick of an IPB.
I really don't want you to look at it as "pin bars vs IPBs" because they're really on the same side...in this context both highlighted bars on your chart are bullish enough, but as Nasir said I would go with the IPB as the pin bar really wasn't all that authoritative. (small nose)
g.
I believe . . .
- #60,204
- Apr 8, 2010 6:29am Apr 8, 2010 6:29am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #60,205
- Apr 8, 2010 6:32am Apr 8, 2010 6:32am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
USDCAD
I believe . . .
- #60,208
- Apr 8, 2010 7:50am Apr 8, 2010 7:50am
- Joined Apr 2009 | Status: Trader | 2,891 Posts
maybe the one on 1.3300 will work although the big weekly bearish bar scares me a little...
Attachment Attachment
Market almost always gives a hint before it's next move.
.
- #60,210
- Edited 9:55am Apr 8, 2010 9:19am | Edited 9:55am
- Joined Apr 2009 | Status: Trader | 2,891 Posts
Will this PPZ work again for EU?
.
TL and 62% fib for EJ but i cant see a clear PPZ.
Ok lets see.
.
We'll find out.
Market almost always gives a hint before it's next move.
.
First entry on EU is retracment of the BUOB at PPZ. EJ is Retracment of PB back to TL.
.
- #60,211
- Apr 8, 2010 9:53am Apr 8, 2010 9:53am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
Almost Always.
First entry on EU is retracment of the BUOB at PPZ. EJ is Retracment back to TL.
.
The eur/jpy, like you said, didn't give anything up though. I'm waiting for the daily to close on it, then possibly get a position on. Nasir, my man, you're awesome with these touches.
I dream, therefore I become.
ghous, since you're the master of IPBs (we could call them ghous bars like the Dale doubles ) , what do you think about the IPB on gold IF its going to close like this? imo it has good chances to go to 1140.00 at least...
it would be nice to see it go like the one on oil from just a few days ago... i know that that one on oil had more space so it was more tradeable (hope that you dont mind if i use your word nassir )
) , what do you think about the IPB on gold IF its going to close like this? imo it has good chances to go to 1140.00 at least...it would be nice to see it go like the one on oil from just a few days ago... i know that that one on oil had more space so it was more tradeable (hope that you dont mind if i use your word nassir
) I have had the occasional glimpse of weekend Mike....
...and that guy is a BEAST. I want to hang with weekend Mike in Vegas on a Saturday night (and wake up with a tiger in our hotel suite...lol)
... haha, now i know who i have to contact if someday i will visit ny and will have a desire to party - #60,216
- Edited 12:04pm Apr 8, 2010 11:35am | Edited 12:04pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
- #60,217
- Edited 12:08pm Apr 8, 2010 11:47am | Edited 12:08pm
- Joined Apr 2009 | Status: Trader | 2,891 Posts
