Sjr,
yes, it looks more like a BUOB. at a higher low.
a possible (trend) continuation setup.
yes, it looks more like a BUOB. at a higher low.
a possible (trend) continuation setup.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedGot my eye on EU. It would be nice to see a PB like the one I drew on the chart.Ignored
DislikedHello fx13new,
is this an H4 chart?
IMHO, upmove from 110.00 or 107's (end June2010) is still in play.
so if this bar closes as is, it could be a 'pause PB' or a pause in the current upmove.
also it is heading into/right at a PPZ (113.00 - 113.30)Ignored
DislikedMuhammad,
if 1.5450 minor PPZ gives way convincingly, then u may get a chance for price to form a BEOB later & go to your FTA.
be sure to check & keep in mind Daily & weekly chart.
in 1 of my feeds (FXDD), weekly chart shows just 1 bearish bar since June2010. pretty strong upmove, IMHO.Ignored
DislikedThis one looks good (for a long) to me for next week sometime...Above 1.3560, I'll be lookin to buy...Ignored
DislikedSC,
It seems that the BEOB has failed. Can we say that it would have been more convincing had it closed below 1.5450, though it was slightly risky being a CTT. On the other hand the current candle is forming a BUOB. Ofcourse we have to wait for the candle to close. The problem is it that it is not at swing low and at best can be considered as trend continuation.
Your comments pls.
BTW I sent a mail to you.
Cheers
Novice 198Ignored
Disliked...
It seems that the BEOB has failed.
On the other hand the current candle is forming a BUOB. ..problem is it that it is not at swing low and at best can be considered as trend continuation.
....Ignored
DislikedHi all
Signed up today as I wanted to mention something. The J16 stuff is obviously popular because it's so basic and we have all learned to keep it simple. Yes support/res works better than anything else.
But PA as such I think is wrongly taught here. Before you all gun me down, here's my point: We all know PA will change depending on data feed, timeframe, tickframe, etc. A pinbar on my chart may not be on yours, but the support/res line will be the same. So I think teaching basic support/res to trade breaks and bounces is correct and probably...Ignored