Yeah, support flipping to resistance, even gave us an H4 BEOB with a retest of the previous bar low.
. .nice Space too . .
Indicators show the past. Price Action "Indicates" the future.
james16 Chart Thread
- #104,581
- Nov 17, 2011 8:43pm Nov 17, 2011 8:43pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
. .nice Space too . .
- #104,582
- Edited 9:23pm Nov 17, 2011 9:10pm | Edited 9:23pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Would This be a valid setup when it touched my daily LCS. My target is the next Yellow line where my HCR is on the daily
My stop is just below the closest LCS at 1,5690
Lehmann
That's not a bad level Lehmann . .I like that there were Highs lining up with that LCS level . .added strength. TTs can be tricky on how tight the stop loss should be . .one way is to use the close of Price as it relates to your entry on the same TF or lower TFs to get you out or to keep you in. Looks like the was no 4 Hour close below your entry to keep you in. . but an Hourly close below could have got you out.
I like James16's targets on PA setups . .the same goes with these setups . .previous bar Highs/Lows, BRNs, RNs, etc. The Previous bar low target on this one was hit nicely . .
Indicators show the past. Price Action "Indicates" the future.
- #104,583
- Nov 17, 2011 9:59pm Nov 17, 2011 9:59pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Why J16 ROCKS!!!
(before I start my best wishes to your policeman friend Jim)
Nice move on Silver, (i thought) Price was winding up into a triangle (daily chart) and the thin red line was a LCS on Weekly.
We had a daily close below this and then a retest that failed running back into the LCS and 200 day MA on 4h. Space to move too with Bottom of the pinbar on daily as FTA
.When you combined Mike's stuff with this stuff . .the story of Price can be easier to read.Price cut through that Weekly HCR level (and Daily HCR and Daily target) like butter . .you can see how Price reacted before at this level on the Weekly HCR. .(blue arrow). Looks like that previous Weekly HCR level, 30.89ish is coming into play.
Nice work, C.
Jim
Indicators show the past. Price Action "Indicates" the future.
- #104,585
- Nov 17, 2011 11:09pm Nov 17, 2011 11:09pm
- | Membership Revoked | Joined Feb 2008 | 9,794 Posts
Looks like we have a nice BEOB on crude oil off at a swing high and off 100.00. If it is on a two-day timeframe it is a pin bar.
Attachment
The red line is my target. At multiple lows.
- #104,586
- Nov 18, 2011 1:34am Nov 18, 2011 1:34am
Agreed
Nice trade Chelski, completely missed my radar. Clean and classic is the way to go. Keep them posting.
- #104,593
- Nov 18, 2011 9:37am Nov 18, 2011 9:37am
How about a breakout and pullback here ?
What I like:
- If this consolidation breaks, it's a break of a solid trendline/resistance and RN 1.32
What I don't like:
- It may break on the lower timeframes as you've posted, but look at that MASSIVE pivot on the daily, I'd need a daily close above to even consider this
- It's a continuation play
- H4 divergence, indicating a move down
Just my thoughts,
SG
- #104,596
- Nov 18, 2011 10:10am Nov 18, 2011 10:10am
How about a breakout and pullback here ?
Mike , I'm in this usdcfh weekly/monthly one , too . I think my patience would be to 1.0000
btw , when did you switch to candlesticks ?
- #104,597
- Nov 18, 2011 10:14am Nov 18, 2011 10:14am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
wow ... this broke strong .
Mike , I'm in this usdcfh weekly/monthly one , too . I think my patience would be to 1.0000
btw , when did you switch to candlesticks ?
I switch back and forth. It's the same thing so whatever I visually feel like looking at lol
Mike
- #104,598
- Nov 18, 2011 11:29am Nov 18, 2011 11:29am
just an update for those following. I have gone to b/e but I am managing it now from a monthly perspective. I still think we have a long way to go. So patience becomes the test
I was just checking my USDCHF monthly chart and can't get rid of feeling that something is wrong
(Don't be surprised if it makes you dizzy)
Follow my trading on Twitter and FB: @pumlitch
- #104,599
- Nov 18, 2011 11:54am Nov 18, 2011 11:54am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Hi Mike,
I was just checking my USDCHF monthly chart and can't get rid of feeling that something is wrong
(Don't be surprised if it makes you dizzy)
Attachment
Not to sure what you mean. Thats about as clean as PA gets
Best
Mike
- #104,600
- Nov 18, 2011 12:19pm Nov 18, 2011 12:19pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Thanks Mike! Almost a mid air collision there
