DislikedHi Jarroo, Any reason why some other Hi / Lo levels are being ignored as shown by me.
Cheers
Novice 198Ignored
Good timing Nov.
It kind of fits in with the post I made about the same pair quite coincidentally.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHi Jarroo, Any reason why some other Hi / Lo levels are being ignored as shown by me.
Cheers
Novice 198Ignored
DislikedLoved the way the post ended, shows you're right on track!
The idea of passing on this setup is very clearly a mature one. There is nothing there "in the context of the ongoing PA" that would make the PA setup tradable.
Welcome to the group Dave, and we look forward to more of your super analysis, thoughts and trades.
g.Ignored
DislikedWelcome Dave.
Very nice analysis, crisp and clear and no ifs, decisive no, shows patience and not trying to force a trade.
Look forward to more of your posts.
It is hard to imagine, you only just joined the thread.Ignored
DislikedEG, BUEOB.
...
EDIT: The other more obvious story looking at the daily alone.Ignored
DislikedGood post Ghous and I am glad you made it as I think I also fall into this trap of over analysis and back testing bars with the information on the right, sometimes.
Something I am thinking about right now, is drawing NO ppz at all, watching areas for possible PA, then if there is a good PA setup, analyze the story and the bar, for REAL locational prospects or non prospects, bar size, FTA Confluence, and just take the thing, without thinking too much more about it.Ignored
DislikedHi PB,
I am more inclined to draw the PPZ off the weekly TF and then wait for the appropriate PA bars in the PPZ , followed by analysis of the bar and the PPZ before deciding on the action i.e to enter or pass the trade. This ensures that one does not start analyzing each PB, BUOB, BEOB etc........ I remember that location is far more important than the PA bar itself. In good locations, a 'so-so" PA bar may still work out (not that I am advocating to enter on such PA bar) and conversely a very well formed PA bar will fail if it does not form in...Ignored
DislikedWhat you see on that chart is precisely the biggest dilemma of back...Ignored
DislikedGreat post Ghous. Thanks for reply. True I did not even notice those pins you highlighted. And yes as you say F12 bar by bar analysis would not produce same backtest results for me, as I already tried that more than several times. Well, yes I just need to stick to my rules for location and bar and maybe I could bring my trading to positive results. Thank you for your analysis.Ignored
DislikedEG, BUEOB.
I know it is still below the BRN, but let's ignore that for now.
EDIT:
Finished.....
Well, we knew from the BRN alone this was a NO No trade but, I think the other reasons are probably equally as valid.
This is the sort of thing, I intend to try in a more spontaneous manner.
Any opinions both good or bad, greatly welcome.
EDIT: The other more obvious story looking at the daily alone.Ignored
DislikedThat was just about as perfect an analysis as could get. Remember the weight you give to your PPzs is the important thing here. Whether you draw your PPZs before hand or prefer to throw them in after you see a bar that pops out what cannot be compromised is their extensive use in determining the validity of the setup.
g.Ignored
DislikedHi PB,
I am more inclined to draw the PPZ off the weekly TF and then wait for the appropriate PA bars in the PPZ , followed by analysis of the bar and the PPZ before deciding on the action i.e to enter or pass the trade. This ensures that one does not start analyzing each PB, BUOB, BEOB etc........ I remember that location is far more important than the PA bar itself. In good locations, a 'so-so" PA bar may still work out (not that I am advocating to enter on such PA bar) and conversely a very well formed PA bar will have a higher probability to...Ignored
DislikedA PPZ which is obvious is a strong one
A PPZ that hosts plenty of solid evidences of S/R is a strong one
A PPZ that initiates aggressive bounces/rejections is a strong one
A PPZ that is not frequently visited is a strong one
A PPZ that lines up with round numbers is a strong one
Just a few characteristics of a strong PPZ (from the top of my head).
Obviousness is of course important. What makes a price level worthy of watching is the number of eye balls watching it, and that is directly depending on how obvious...Ignored
DislikedA PPZ which is obvious is a strong one
A PPZ that hosts plenty of solid evidences of S/R is a strong one
A PPZ that initiates aggressive bounces/rejections is a strong one
A PPZ that is not frequently visited is a strong one
A PPZ that lines up with round numbers is a strong one
Just a few characteristics of a strong PPZ (from the top of my head).
Obviousness is of course important. What makes a price level worthy of watching is the number of eye balls watching it, and that is directly depending on how obvious...Ignored
QuoteDislikedA PPZ that is not frequently visited is a strong one
QuoteDislikedIdeally, price shouldn't hang around a strong PPZ, it will normally get rejected immediately and aggressively often within a few pips up and down of the PPZ, or better still - to the pip.
If price is frequently re-visiting a price level proven for its S/R abilities chances are there are not enough orders stacked at this level anymore to create and sustain a rejection. What's more its now weak and probably more likely to break.
Dislikedto play or not to play this is the question (not much experience in continuation boub ) tnx in advanceIgnored
Dislikedto play or not to play this is the question (not much experience in continuation boub ) tnx in advanceIgnored
DislikedEURJPY:at weekly chart, we can see the price closed under the down trend line and under the resistance area 115.62,it is still in the down trend.then turn chart to daily,it seems chaos,i find there are some resistance @111.83(112.00,the round number).BUT,on the other hand,there are support @111.30,and you can see the perfect pinba on 4h chart.so i think going short @111.83 or below 111.30 is not too bad.
Ignored