james16 Chart Thread

Quoting jarroo

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Thanks Mike.

I know you have talked about this many times through out the thread and everyone should read your posts on this topic (If you haven't read all of Mike's post already).

The key point is that trades can be flexible or can be managed in a way that best fits an individual trader's risk tolerance or style.

Jim

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Quoting ghous

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In light of jarroo said in the quoted post above:

Somebody asked Mike in a webinar of his in the pf about a weekly IPB on Eu. Mike's not into them but still gave the explanation exactly how I would have. It too had deficiencies similar to our Gj IPB.

Although not entirely untradeable, but then as jaroo mentioned "Price may not be done with that 145.00 just yet."

[left]This is a very important concept, that applies not only to IPBs but to all other PA setups as well. Our PA setups need to be "on" a confluence zone/ppz rather...

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Quoting ghous

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In light of jarroo said in the quoted post above:

Somebody asked Mike in a webinar of his in the pf about a weekly IPB on Eu. Mike's not into them but still gave the explanation exactly how I would have. It too had deficiencies similar to our Gj IPB.

Although not entirely untradeable, but then as jaroo mentioned "Price may not be done with that 145.00 just yet."

[left]This is a very important concept, that applies not only to IPBs but to all other PA setups as well. Our PA setups need to be "on" a confluence zone/ppz rather...

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Quoting 4X=0

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yes. looking at the weekly, the swing high is the top of a so called IPB, right?

jaroo ill get to your chart in one second.

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Quoting sakrani

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I think the difference is the 2nd chart touching the 1.3500 BRN.

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Quoting jarroo

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That one was sweet. And so were these earlier ones as well. Notice the location, off of strong PPZ levels.

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Quoting ghous

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If memory serves me correct you took that first highlighted bullish IPB, right Jim?

g.

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Quoting 4X=0

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here is the same fib you drew on 4hr view. still mid uptrend and not dividing the full swing, but still price does respect the levels. macd divergence with no excellent price bar confirmation, but i do see an outside bar. i also see another IPB at the recent swing low.

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Quoting 4X=0

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certainly. you could get away with a 40 pip stop speculating on that bar

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Quoting ghous

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That it just a pin bar, for an IPB it has to have a long tail in the opposite direction of the current trend. I.e A long to the downside in an up trend and a long nose to the upside in a down trend...look through the last few pages for specific examples of the IPB.

g.

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Quoting jarroo

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This was a nice little PB setup. Although the PB was a bit too small.

Yes, at swing low and it was off a PPZ level, Retracement level (61.8) and RN 93.00 confluence. Price broke the PB and hit its 1st target (blue line which is a PPZ level). For me, this setup has filled itself, it serve its purpose and hit its target. Others may say that since the PB hasn't broken the bottom or low of the PB, it is still valid. And they would be correct too.

Price has now came back down to the PPZ, 93.00 level. I would wait for confirming bullish PA for a long...

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Quoting cprao

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Thank you.. when you say - "little PB setup" . are you referring to the head or the nose ? I believe nose since the head is within the previous bar.

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Quoting ghous

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That's the first...like I said, there is more than one difference...

g.

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