Getting line blind. LOL thanks Jarroo
I think the monthly bar spike threw me off.
Historically, it has reacted well, also.
SO, which will prevail, the block of consolidation or this BUEOB?
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedI would not call that a Highest Close of Resistance level (HCR) on your chart . .its not at a Swing High nor at the Top of a Consolidation area.Ignored
DislikedHi, been out of action for a few days as I was sick. Lots to catch up here. Any seniors out there give advice as to which of these 3 daily setups are the best? All 3 are BEOB (I'm not sure if AUDUSD qualifies as one though as it didn't close near its day's low)
I personally prefer the AUDJPY and NZDUSD setups the best, looks cleanest with BRN above as resistance. Pls give your comments. ThksIgnored
Dislikedhey Nik
It's a beob on my feed since it has a higher high then previous bar, a lower low then previous bar and a close near the bottom of the bar(in this case lower then previous bars low).
Best
MikeIgnored
DislikedTechnically it's a BEOB in that the high and low are both higher and lower than that of the previous bar. In this case, on my feed, the close of the bar is actually 1 pip below the previous bar's low. I wish it engulfed a little more, but the other factors tip the scales for me and are the reasons I go short - it's gotta be more than just the bar. (I took a zoomed shot that shows that it does engulf, just slightly though).
Those are:
[list][*]Location of the Price Pivot Zone in confluence the big round number of 80, at a nice swing high. Location...Ignored
DislikedHey Nik
A beob simply has to meet the following criteria to be a BEOB(doesn't mean you trade it if it meets the criteria, simply what is considered a beob)
So for a beob
You want a high higher then the previous bars low.
You want a low lower then the previous bars low
You want the close to be near the bottom portion of the bar
So for aud/jpy we can see we meet all those criteria to be called a beob.
Hope that clears it up, let me know
MikeIgnored
DislikedThe candle conists of the body and the wicks (body reps open/close, wicks high/low).
Min requirements as I see them on the bearish engulfing (represented by body), the close has to be lower than the open and the high and low must be higher and lower respectively than those of the previous bar. A couple of things can give the bar more strength - closing lower than the previous bars close and engulfing a range of bars are 2 that come to mind.
The opposite is true for BUOB as far as open and close - close must be higher than the open.
Take a look...Ignored
DislikedYeah, I hear you. I see a bounce at a resistance area and am calling them all the same thing.
Got to work on that.Ignored
DislikedJarroo,
Thanks for info. But I'm still not 100% clear abt the AUDUSD bar whether its considered BEOB becos technically it is (its engulfing), but the last point on Mike's post that it has to close near the bottom of the bar....hmm it kinda doesn't fulfill this criteria does it? Sorry am not really thinking straight todayIgnored
DislikedCJ aproached the daily/h4 resistance. Price gave us m30 beob
Fta hit. Stop moved just above 77 RN.Ignored
DislikedNice GH. . .Classic . . . .that 30min beob turned into some nice higher time frame (Hourly, 4 Hour) bearhish PA as well . .Ignored
DislikedGood morning traders :-)
I don't think I will take this trade, but I would like to hear your opinion.
It is DBLHC on USDJPY. 23.6 Fib confluence. Long term downtrend, but right now we are in consolidation. There is not much space between the previous bar low and the bottom lows. Plus FTA would be very close - 76.470 (if we enter the trade under last bar low)...so maybe a B trade? :-)Ignored
DislikedFirst I would like to thank to Pinbar for his comment on my previous post - thank you Pinbar
And here is a trade I take today, any comment is appreciated.
It is BEOB on EUR/GBP.
Bullish bar high a little below Fib 50, then price broke through Fib 38 and closed below previous bearish bar (I don't count the sunday bar).
Conflunce - high of the bullish bar with previous bars highs (not exactly the same high and like 20 bars to the left, but its there).
FTA - the 365 EMA - so I took partial profit and placed the SL to BE.
Profit Target - I think...Ignored
DislikedFirst I would like to thank to Pinbar for his comment on my previous post - thank you Pinbar
And here is a trade I take today, any comment is appreciated.
It is BEOB on EUR/GBP.
Bullish bar high a little below Fib 50, then price broke through Fib 38 and closed below previous bearish bar (I don't count the sunday bar).
Conflunce - high of the bullish bar with previous bars highs (not exactly the same high and like 20 bars to the left, but its there).
FTA - the 365 EMA - so I took partial profit and placed the SL to BE.
Profit Target - I think...Ignored
DislikedJarroo posted an indicator that would do that somewhere in this thread.Ignored