DislikedWould this still be a playable BUOB? It did break but its off the monthly so it should have more time to develope.Ignored
Mike
james16 Chart Thread
- #76,308
- Oct 4, 2010 12:39am Oct 4, 2010 12:39am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Thanks Jarroo, just trying to help our on the weekend with not that many people around.
I have been thinking a lot about my former and not so distant, fixation with trying to find an indicator that draws PPZ reasonably well.
And, I have come to the conclusion that it is not possible because of the nature of PPZ. Maybe they can come close but it is really impossible.
Along with this, I have been thinking about the obsession I experienced with this search for the indicator.
Basically, I think it was a responsibility issues, meaning that if...
Believe me, Pb . .the best indicator that can process and interpret information more accurately then any indicator out there is the brain behind your eyes. It just needs to be coded with a little time and practise.
Indicators show the past. Price Action "Indicates" the future.
- #76,309
- Oct 4, 2010 1:43am Oct 4, 2010 1:43am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
Believe me, Pb . .the best indicator that can process and interpret information more accurately then any indicator out there is the brain behind your eyes. It just needs to be coded with a little time and practise.
Yes, I have come to the same conclusion.
There is no shortcut, it is a learning curve and while the technical aspects of what you guys are showing is not that hard to get a grip on, seeing the price flips with a definite structure, seems to take time and a lot of eyeballing the charts. I think I am starting to see things a little more clearly in terms of PPz's, than I was a week ago.
- #76,310
- Oct 4, 2010 1:50am Oct 4, 2010 1:50am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Yes, I have come to the same conclusion.
There is no shortcut, it is a learning curve and while the technical aspects of what you guys are showing is not that hard to get a grip on, seeing the price flips with a definite structure, seems to take time and a lot of eyeballing the charts. I think I am starting to see things a little more clearly in terms of PPz's, than I was a week ago.
Yes you are PB, more then you know.
Which is reflected in this post.
EUR/CHF may be worth keeping an eye on.
Now, we just sit and wait for PA to show us the way.
Now, it seems to be getting a little easier to see what is going on.
Some nice bearish PA would be perfect.
This one may bring out the Rac-man . . KaBoom . .lol I'm sure he's looking at this one very closely.
Indicators show the past. Price Action "Indicates" the future.
- #76,311
- Edited 2:03am Oct 4, 2010 1:53am | Edited 2:03am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Looks like a perfect touch trade to me!
I don't like venturing into this too much because this isn't what the thread is about. But I strongly disagree. The EUR/CHF setup is a PERFECT touch trade setup. Strong down trend, very sharp peaks so tons of traders will have their eye on this. I make a killing from these type of trades day in and day out, and this one is a beauty.
Sell on the touch of the line, 30 pip stop.
Nice Captain . . .well supported touch trade.
Indicators show the past. Price Action "Indicates" the future.
- #76,312
- Oct 4, 2010 2:11am Oct 4, 2010 2:11am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
Yes you are PB, more then you know.
Which is reflected in this post.
Great example of a multiple confluence level. The is a Strong level.
Some nice bearish PA would be perfect.
This one may bring out the Rac-man . . KaBoom . .lol I'm sure he's looking at this one very closely.
"The Rac-Man".
Is he in his cave, eating lotus seeds and meditating with the sound of a crisply snapping PPZ? LoL
- #76,313
- Oct 4, 2010 2:12am Oct 4, 2010 2:12am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
enough to go short?
1)fib at 61
2)fib expand at 138 of previous rally
3)round number
4)resistence
5)middle line fork
Mate, ya need to keep your charts a tad cleaner.
The analysis looks sound, though the entry is a matter of style and preference.
PRINCIPLES are what are taught here by Mike & the rest. METHODS are individual and a reflection of your personality. That one, you gotta make your own.
Price action on your TF isn't saying anything just yet though. Unless you're willing to in on a pure level(s) play... but where's your stop and what % will you make if you're right/what will you lose if you're wrong? MM & bet size are part of style/method too......
I'm not trying to be a smart guy here dan, this Thread deals with pure Price Action at great locations. You'll find that cleaning up your chart a bit will make seeing these setups more clearly.
Welcome to the Thread.
Jim
Indicators show the past. Price Action "Indicates" the future.
- #76,314
- Oct 4, 2010 2:17am Oct 4, 2010 2:17am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #76,316
- Oct 4, 2010 2:37am Oct 4, 2010 2:37am
- Joined Oct 2009 | Status: Thank You eohater | 790 Posts
Nice Captain . . .well supported touch trade.
Already up 50 pips before PA traders even notice it. Beautiful. Hope some people here got in.
Cap
- #76,319
- Edited 3:22am Oct 4, 2010 2:50am | Edited 3:22am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Thanks Jarroo! Working out well. Thats the beauty of these. Tight stops on the other side of the line allow a large % trade. Normally 6-8% in my case but I am crazy.
Already up 50 pips before PA traders even notice it. Beautiful. Hope some people here got in.
. . .but due to the nature of this thread, waiting for solid PA for confirmation is a more solid approach . . I'm sure you understand. The one thing I like about these levels is that they are strong on either side of the equation, meaning if Price breaks through and finds Support (in this case) . . .much like this Aud/Cad chart.
Have you found this also to be true, Captain?
Indicators show the past. Price Action "Indicates" the future.