k hihi, sorry I'm a noob here
Its no problem . .you are amongst friends here . . .
Jim
Indicators show the past. Price Action "Indicates" the future.
james16 Chart Thread
- #100,121
- Aug 7, 2011 4:16pm Aug 7, 2011 4:16pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Its no problem . .you are amongst friends here . . .
Jim
- #100,122
- Aug 7, 2011 4:51pm Aug 7, 2011 4:51pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Hope everything is going well Jim.
What is your take on EUR/CAD?
I find it intersting that we have the HCR in this former consolidation area, lining up with the 61.8 fibo and the BRN
Absolutely Pinbar . .
This is a great Weekly level . .strong Locational Confluence. This could very well perform as it did in the past (in blue) . .probably even more so due to the additonal confluence.
Recently, Price has Closed below this level so this means that it is currenting acting as Resistance. I would be looking for bearish PA on the Daily or even the 4 Hour.
But Price could easily pop up through and Close Above turning this level into Support, thus bullish PA would be on the watch list.
Either way, this is a great level...
Hey Pinbar . .you watching the Eur/Cad?
. .Price broke above the 1.4 . .maybe some of the lower TF Closes can give us a hint that this level is turning into Support. . .we'll have to wait and see . . . .
Indicators show the past. Price Action "Indicates" the future.
Sorry AQ . .what's your question again? I'm not really sure what you'r asking?
Its no problem . .you are amongst friends here . . .
Jim
Basically, in my previous post I showed that prices could go up or down... I just looking for some infos in order to "predict" better the future... right now for me is a coin flip
- #100,125
- Edited 7:02pm Aug 7, 2011 6:30pm | Edited 7:02pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
Absolutely Pinbar . .
This is a great Weekly level . .strong Locational Confluence. This could very well perform as it did in the past (in blue) . .probably even more so due to the additonal confluence.
Recently, Price has Closed below this level so this means that it is currenting acting as Resistance. I would be looking for bearish PA on the Daily or even the 4 Hour.
But Price could easily pop up through and Close Above turning this level into Support, thus bullish PA would be on the watch list.
Either way, this is a great...
Many thanks Jim!
You were correct as ever, my friend.
That blasted weekend Gap again. LOL
Still, I suppose the gap is even more reason to wait for it to get filled and possibly some bullish PA off of the area?
Going to be offline for a few days while they setup my fiber optic connection in the new apartment we are moving into today.
Take care folks.
- #100,126
- Edited 8:48pm Aug 7, 2011 8:33pm | Edited 8:48pm
yes. what else should it be?
js curious guys...dont wana mix things but its fun to know by staying at sidelines..
Most people misinterpret these things quite badly and end up shooting themselves in the foot. Eleven and a half times out of ten, they would be better off sticking to good bars in good places.
When you have to shoot, shoot. Dont talk.
- #100,128
- Aug 7, 2011 9:04pm Aug 7, 2011 9:04pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
- #100,130
- Aug 7, 2011 9:27pm Aug 7, 2011 9:27pm
- Joined Jan 2006 | Status: Monarch o' the Glen | 5,561 Posts
I daresay anyone asking where to find that information has little to no use for it.
B
- #100,132
- Aug 7, 2011 10:19pm Aug 7, 2011 10:19pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Basically, in my previous post I showed that prices could go up or down... I just looking for some infos in order to "predict" better the future... right now for me is a coin flip
Can I ask you . .( and I'm not trying to be contemptous) . .do you know where to find strong levels of Support and strong levels of Resistance?
Maybe you can show me on a chart? Yes.
. . . .Jim
Indicators show the past. Price Action "Indicates" the future.
- #100,133
- Edited 11:47pm Aug 7, 2011 10:31pm | Edited 11:47pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Many thanks Jim!
You were correct as ever, my friend.
That blasted weekend Gap again. LOL
Still, I suppose the gap is even more reason to wait for it to get filled and possibly some bullish PA off of the area?
Going to be offline for a few days while they setup my fiber optic connection in the new apartment we are moving into today.
Take care folks.
Yes, that is a gap strategy . .playing the gap close especially when its aligned with a possible strong Support level, as in the case with the Eur/Cad. Some will trade it as a Touch Trade, meaning without bullish PA confirmation. . .a very valid play . . .I would have to ask the wizard to be sure . .
I hope the move goes smoothly . .I mean into your new apartment , not just with the pair . .
Jim
Indicators show the past. Price Action "Indicates" the future.
Hey Ryan, . .Damn thoses gaps!!!they mess up my Closes . . . .lol . . just kidding . .
On the Eur/Gpb, Price reacted as Resistance right where we thought it would. . from a previous Support level (LCS) . .Why? Because Price Broke Through and Close Below this Support level. So until Price can break through and Close above this level, it wil remain as Resistance.
Now if Price closes the Gap it may venture back up to this Resistance level . . then bearish PA is what I would look for at this Resistance level.
If Price goes up and close...
Cool. Thanks for the response. It seems as though you treat it exactly like you normally would. This really helps.
Ryan
- #100,135
- Aug 8, 2011 12:38am Aug 8, 2011 12:38am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Cool. Thanks for the response. It seems as though you treat it exactly like you normally would. This really helps.
Ryan
Which would be to move to break even or take some partial profits off the table or take the full position off the table. James16 would say that it has to do with account size . .meaning if 30 pips means $300 or $3000 or just $15. . .a trader's mindset is going to change with a bigger account size.
But if you don't look at you P/L on your Plat and just look at the chart . .reacting to the 1st target being hit becomes much easier . .
Indicators show the past. Price Action "Indicates" the future.
- #100,136
- Aug 8, 2011 1:22am Aug 8, 2011 1:22am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Weekly BUOB on the Eur/Nzd . .
The power of PA when Size and Location come together . .target hit?? previous bar Highs/Lows . .I would say so . .nice . . .
The previous bar Lows (2nd target) was the main target and a stronger level.
1st target (previous bar High) had a reaction . .what would you have done at the 1st target . .move to B/E? . .take partial profits? or take full profits??
The power of PA when Size and Location come together . .target hit?? previous bar Highs/Lows . .I would say so . .nice . . .
The previous bar Lows (2nd target) was the main target and a stronger level.
1st target (previous bar High) had a reaction . .what would you have done at the 1st target . .move to B/E? . .take partial profits? or take full profits??
Indicators show the past. Price Action "Indicates" the future.
Weekly BUOB on the Eur/Nzd . .
The power of PA when Size and Location come together . .target hit?? previous bar Highs/Lows . .I would say so . .nice . . .
The previous bar Lows (2nd target) was the main target and a stronger level.
1st target (previous bar High) had a reaction . .what would you have done at the 1st target . .move to B/E? . .take partial profits? or take full profits??
:PA still rules despite the uncertainity in the markets
- #100,138
- Aug 8, 2011 1:32am Aug 8, 2011 1:32am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Congrats Jim..
PA still rules despite the uncertainity in the markets
Indicators show the past. Price Action "Indicates" the future.
