DislikedGold is one of the main markets on my radar tomorrow.
I've got a limit sell at 1377.5.Ignored
I have it as a breakout and pullback
Hope all is well with you and yours bud
Mike
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedGold is one of the main markets on my radar tomorrow.
I've got a limit sell at 1377.5.Ignored
DislikedFirst post here.
I believe my style of trading is very similar to many people here from what I've read here. Don't really know some of the acronyms used here yet but seems like everyone's really helpful.
Love trading, learning and teaching.
Here's one on the radar:
Ignored
Dislikedi see your point about the 9650 price but if you look at the box iv drawn covering the recent ranges the BEOB didnt close below that and is still moving within that range. imho it would be a much stronger signal if the BEOB closed below that ranges lows.Ignored
Dislikedi dont think so. i think some of these bars have been termed pin bars by proxy if there are previous bar h/ls to use as a marker to measure against the o/c of the pin bar. A pin bar needs to close within the previous bars o/c to be a technically correct pin bar
jonIgnored
DislikedHey Jon
That is something very unofficial that someone made long ago(not official j16). For a pinbar it only has to be withing the priors bar High to low. I do agree with you that when it is within the open/close it is much stronger. But technically j16 speaking it does not.
Welcome PKmurphIgnored
Dislikedhi pkmurphys, i agree that this is a good level to look for a trade setup but
strictly speaking this is not a pin bar, we need the close to be inside the previous bars open/close. Also as you mentioned we would want a bigger bar as comparatively it is not too big, it looks more like an indecision bar or that momentum is fading.
The daily open/close price plays an important role in price movement and a close below that price(and the previous days open/close)shows the bears ended the day in control. When the bar closes above(in the case of bearish...Ignored
DislikedLooking at euro. Will this be a blow off top or just a rest area for 1.3500 to 1.3700? I have 13 pips to my name on the short side now but am keeping my mind open. What an amazing run today. I thought we'd have to wait through the weekend before price touched the upper TL.
K.I.S.S.Ignored
Dislikedhey MustardPlug, about time too!!
the main problem i see with this set up is the fact that it is running right into support (as you mentioned) at 95.50-96.00, then again at 95.00. We also have price ranging for the last few days and the bar comes within that range so doesnt stand out to me as a reversal bar?? imho the bar doesnt have the strength to convince me it wont bounce right off those FTAs.
just my view..
jonIgnored
DislikedAs jarroo stated the Ej IPB was not tradable in my book because of the size factor.
To add to what jarroo said regarding the low/high of the IPB marking the swing high/low, here's a chart of Usd/Cad daily.
Notice we have an IPB (or a bar that looks like one) except that its not really at a swing low. As a result taking such a bar and placing a tight stop below the low of the IPB is not exactly playing safe, because then you're sitting at your hands hoping price won't look to test the actual swing low marked by the lowest bar low.
This...Ignored
DislikedAs jarroo stated the Ej IPB was not tradable in my book because of the size factor.
To add to what jarroo said regarding the low/high of the IPB marking the swing high/low, here's a chart of Usd/Cad daily.
Notice we have an IPB (or a bar that looks like one) except that its not really at a swing low. As a result taking such a bar and placing a tight stop below the low of the IPB is not exactly playing safe, because then you're sitting at your hands hoping price won't look to test the actual swing low marked by the lowest bar low.
This...Ignored
Dislikedyeah, this is where we would look for PA confirmation of the break. i also think this was close enough to be a valid setup if all else is well. I couldn't say for sure but in my experience a retest as spot on as this is a good sign. in these breakout situations a drop/retrace too low into the broken PPZ can often be a sign of weakness, so a quick reaction from that level is what i personally want. A strong break is always the best break and so a quick bounce off the level is a good sign to me, when price starts dawdling around this level it can...Ignored
DislikedHey Jarroo
Just wanted to ask your opinion of this BEOB on U/CHF. Do you think it is worth taking a quick trade and getting out at nearby bar low support around 9550? What you might call a quick scalp type trade?
KalIgnored
DislikedI saw this as a Mike breakout trade on the daily. Drop down to the 4h and 1h for PA conformation. Would this BOUB qualify or is it better to have a touch off that S/R level?Ignored
DislikedI saw this as a Mike breakout trade on the daily. Drop down to the 4h and 1h for PA conformation. Would this BOUB qualify or is it better to have a touch off that S/R level?Ignored