Price Is The Best Indicator Itself.
- #124,625
- Apr 10, 2013 10:15am Apr 10, 2013 10:15am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
- #124,627
- Apr 10, 2013 12:28pm Apr 10, 2013 12:28pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Where can I learn more about Price Action like those in James16 charts? 9 replies
Dislikedhi , Where I was wrong, I saw the PINBAR at the end of the move then appeared Dogi supposed to strengthen the end of the the move and the third candle reversed, where I went wrong? {image}Ignored
DislikedFrom what I have read so far, this area has been tested many times and that pin bar is weak and because it has been tested many times this might be a breakout to the upside.Ignored
DislikedThank you very much for the answer, but why the NY time close, becouse its the most popular? Thats the only reason?Ignored
DislikedHi to all my pipmates ^^ well here we go, thats my first chart, so be even more rude to me so I can reach & continue with you even faster ^^. EUS/USD (Daily of course) I found (screenshot attached) what I think is some confluence. 150 & 365 emas, fibb at 38.2 lvl, also a VBRN that acted as resistance recently. So I suppose that now I should wait for some PA-Setup to happen to confirm a enter, right? For example i could: - Go short if price does not manage to close above our PPZ (i put my blue rectangle around the VBRN and 32,8 Fib) AND forms a nice...Ignored
DislikedHey Mike, Do you like this BUOB on EUR/AUD weekly chart? At a swing low and just about closed above the BRN (1.2500). We've got the retrace, but I'm in two minds. Also a question related to this: The weekly closed just above the BRN but the daily has closed under the BRN for the last two days and probably will do today also. Would that be a concern or would you just ignore it and only look at what's on the weekly? {image} Update on NZD/CHF trade from yesterday: Closed for full profit as it was approaching an RN.Ignored
DislikedHey H I am not a huge fan of this one. It's sort of lacking enough of a story for me. I would say that I would have preferred a close above that gap from a few weeks back. This does have an interesting support area but with a lack of space here it makes for a tricky trade. As for the daily, I would always focus just on the weekly in this case though myself. Best MikeIgnored
DislikedThanks Mike, sorry for all the questions but could you explain what you mean by lack of space? I'm not seeing much traffic so just want to know where I'm seeing the chart wrong.Ignored
DislikedHey H No bother at all bud For me I see price boxing on top of boxes. So if we look towards the midpoint of our boxes as I teach these are almost always minor but strong PPZs. This is sort of right above the break of the BUOB and puts us in a tough spot with such a sideways market. It's just one that I would be uncomfortable dealing with. Hope that helps Mike {image}Ignored
DislikedOn USDCHF Daily, there is a candle due to close in 40 min. If closes like it looks now, it looks to me like a Pin Bar. I was thinking about placing a pending buy stop above it (once closed and confirmed as a PB). It is sitting at a nice confluence from 50% Fib ret, PPZ and 0.9300 RN. What do you think about this one ? {image}Ignored
DislikedI originally dismissed this PB, abut after I saw you match it with 50fib and on top recent support, it looks good. Here is a question though, the dollar index has a bearish pinbar and has generally been weak, should we take this into consideration with all $pairs? Or should we not really look into it as at any given time the dollar may be stronger than x, but weaker than y.Ignored
DislikedI would wait for a answer from the senior members... I have just started to trade PA with the J16 method, so I was looking for a nanswer myself. I was wondering if the nose of the pinbar was protruding the previous candle enough... what do you think ?Ignored
DislikedI originally dismissed this PB, abut after I saw you match it with 50fib and on top recent support, it looks good. Here is a question though, the dollar index has a bearish pinbar and has generally been weak, should we take this into consideration with all $pairs? Or should we not really look into it as at any given time the dollar may be stronger than x, but weaker than y.Ignored
DislikedI hope a senior will answer that for you, they will have better judgement than me, but if I were to say, the wick is by no mean long, I would consider it weak, and as for the protrusion, it's not clean. But the confluence may make up for that. Just my 2 cents.Ignored