DislikedIf this doesn't help convince you.... I don't know what to say.Ignored
Well I would've taken that PB but I am short in this one from a weekly setup. So i'll just wait for my trailing stop to be taken out.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedIf this doesn't help convince you.... I don't know what to say.Ignored
DislikedLooks like we could be in a consolidation area on the Daily. The Weekly clearly shows a strong trend downward. I'm sure that trend is eyeballing the .6500 (BRN).
If on the 4 hour, I would like to see another swing high maybe up by this white box, for some nice bearish PA. But then again the downward trend could be strong enough for even a bearish IB at the .6600.Ignored
DislikedI like the looks of this I28B on USD/JPY. My bias is long based on the fact it's hugging the ppz. Anyone like to comment on this?
-- DannyIgnored
Disliked3 bars ago was a BEOB which could still be in play. It's in the middle of a range and choppy though so easy pass for me.Ignored
DislikedFunny you mention that fxp. I actually like the long play more because of the BEOB. Reason being: All those that took it short going into a price flip are probably getting nervous about it right now. It's been 3 days and no movement. Also, yesterday's doji equates to indecision after a bearish bar, which means to me that the momentum has been nullified.
Thanks for the input fxp, I appreciate the feedback to get the gears going.
-- DannyIgnored
DislikedHey Chris
When looking for a retracement to go long we draw from Swing Low to Swing high.
When looking for a retracement to go short, we draw from swing high to swing low
Example of looking to go short(and just flip it to go long).
Just think about the retracment numbers as percentages. The lower numbers should be closest to current price as the retracement represents a closer % of the previous move. As you move further away it is a larger retracement/ percentage of the move.
Best
MikeIgnored
DislikedWhich broker are you using to trade Gold with MT? I didn't know that was possibleIgnored
DislikedHi everyone, this is my first post in this thread, but have already read a ton of the material, and have learnt so much already. Thanks to all, especially the senior members, who still take time to help others.
Just posting these charts to receive feedback as to whether the PB on H8 would be a reasonable trade. On H8 it has bounced off quite a bit of confluence:
- both 365 and 150 ema's
- trend line
- confluence of two fibs at 50% and 61.8%
My concern is whether I am trading into too much traffic. I thought my first trouble area would be around...Ignored
DislikedHi everyone, this is my first post in this thread, but have already read a ton of the material, and have learnt so much already. Thanks to all, especially the senior members, who still take time to help others.
Just posting these charts to receive feedback as to whether the PB on H8 would be a reasonable trade. On H8 it has bounced off quite a bit of confluence:
- both 365 and 150 ema's
- trend line
- confluence of two fibs at 50% and 61.8%
My concern is whether I am trading into too much traffic. I thought my first trouble area would be...Ignored
Dislikedyes!
Now IT check that chart out, how you can clearly see a triple bottom, and price touches the same area, boucnes - then moves AWAY, notice the 3rd time back we got a BUOB.
This is what we want to do
MikeIgnored
DislikedMike,
In this case we should have entered on the break of the wick of the BUOB and then set targets as per FTA.
Cheers
Novice 198Ignored
DislikedLooks like we could have another i4b at the round number 1.1000....Ignored
DislikedHey Novice
Yes if you are trading on the conservative wait for a break, then your buy is above the high of the BUOB(some amount of pips you are comfortable) and then proceed to manage it according to what is your plan
MikeIgnored