Here is Mike's post about it:
http://www.forexfactory.com/showthre...13#post5771313
I would expect some resistance by 1.2 (monthly LCS + 365 EMA) as well as by 1.3 (weekly LCS).
Just my view though...
Slow & steady
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedHey Mike, this was maybe the most beautiful setup lately. Too sad there was no good trigger bar setup, as you already said.
Sometimes i wonder if maybe i could make a living only with this pattern
It's almost easy as cheatingIgnored
DislikedI am still not so good on touch trading, but i am practicing with very low risk %.
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EDIT : seems like this one turns to be a good one
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DislikedHi,
Maybe I've been very lucky on this one, but I entered this trade at 1.004 at the break of a daily DBLHC that broke 1.00. Rapidly moved my SL to 0.995. I was first targeting the monthly HCR, but took profit at 1.02, by the daily PPZ.
Managed the trade by monitoring the H4, and moved by SL little by little, according to the H4 S/R areas.
Please let me know if I've made any mistake in reading the chart!Ignored
DislikedI have got to ask , If one watches 50 crosses and just give them a go through once on dailies , it normally takes about 2-3 hours if done thoroughly .... Now i see you are not bound to timeframe , How much time do you spend in front of the charts Rust ???? Are you on glasses ??? I am sure you are !!!Ignored
DislikedBut you are doing great Rust, one of the most impressive picking things up I have seen over the years
MikeIgnored
DislikedHi Mike, a long time lurker here. Hope you still remember me.
Mike, is there any guidelines for playing continuation bar ? I know playing continuation bar at sideways market is very risky, but during trending market it can be really rewarding. But most of the time we never know market is trending until it is too late and the trend is over. Please give me some advice /hints on this.
ThanksIgnored
DislikedThanks Rust and Mike!
Its clear to me. However, most of the time this bars works, at least to FTA. But this can happen. Its better to switch to 4h and higher.Ignored