james16 Chart Thread
Euro Weekly Lowest Close of Support . .Price Breaks Through & Closes Below . .nice level in either direction. . . but for now short.
Hey Variance . .I agree with Mike and Pinbar about what this setup was trading into . .the 1.0 and previous Resistance which is now Support, etc. The 1.0 was an easy target that this setup reached.
But wow. .does this have a great story at the 1.0075 level . .
If Price comes back to this 1.0075 level . .bearish PA or a TT would be what I would be looking for . .big time . .
Hehe, only wish i'd taken it! Missed that one in the end J. i'm currently struggling to stay on top of my watchlist. Stuff gets missed.
This interests me as per my post a few pages back...
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Love how it broke down as anticipated/hoped for, bounced off 365 and is now coming back to test this previous level of support. See how price behaves at the line for possible entry short. Aware of 365 so TM important if taken. Just watching for now
I like your eye, beebo.
but let's check out the higher TFs . . .
I like your eye, beebo.
For Lower TF setups like these, they needs to have stonger builds of Consolidation (Mike's boxes) also additional confluences to support these levels.
This one worked out well . (4 Hour chart) . .
but let's check out the higher TFs . . .
I actually did it again.... TT from top of box & 150 EMA to bottom. Quick in out. I hear you with the stronger builds though. Actually i didn't use fibs for this but when you draw it the 38.2 holds the top of the box with the 150 and the 23.6 offers weak support of lower box level whilst minor BRN provides real bottom of box. I'm not entirely sure i should have traded these though. Perhaps not according to what we use here. oh well, it made me profit on demo and i learned something again.
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.multiple reasons (Confluences) to enter a trade.
)
heehee...it seems both of us invest in same kind of business, but me on a much smaller scale
Hope by the end this year the house to be ready for the market to take it.
The last picture lays out where I'm with the project, although this picture was taken 2 months ago the roof is already finished right now.
Going back to my cave now
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Ok, i got it. Thanks
And I totally agree with you Pinbar . . if that PB was biggger and grander . .the "nose" taking out previous bar Highs, etc. Mike would have taken it .
Great location . . . but no big PA . . pass.
Its pickiness like that, Pinbar, that will make you a great trader . .even if the passed trade works out.
Its this type of thinking that makes this statement ring true : . . .
"We're not trying to trade every day, we're trying to win every time we trade" - James16
Jim
Yes, Jim, that is a great quote just like the one he made the other day.
"Every trade that makes you money, is an A+ Bar".
Yes, Jim, that is a great quote just like the one he made the other day.
"Every trade that makes you money, is an A+ Bar".
He said what???
When it makes you money you know it was an A+ bar.
Yeah... Maybe.
then again. Maybe it just meant getting your ForexOff...
Profit is not a four letter word.
B
Nite
I think it was an inside joke with Mike .. or something.
!no inside joke here. James is just saying a good trade is one that makes us money
Don't over think it here guys
Mike
sure Caesar
Best
Mike
Hi Jim,
I've been watching the USDCAD a lot too. Along with a chain of other similar complex decision making scenarios, I've started asking myself in the lines of:
How many times does a PPZ have to be shot through to have it lose weight?
What is the magnitude of the "shot through" compared to the magnitude of the pivotal moves from that PPZ?
I'm slowly developing a new theory about certain scenarios that could potentially counter existing PPZ so we can ignore them for price targets.
Or to give it an intensive definition:
1. to allow...
. . is acting pretty strong, this is due to the Space it resides in . .
