james16 Chart Thread

Quoting BlazG

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Wishing for a stronger close... {image}

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Quoting ghous

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A good question to always ask before you execute an order is "Why will sellers/buyers be interested to get in at this price?"

Looks a pretty straight forward question, almost lame but it goes deeper than is seemingly apparent. The selling that helped price reach your yellow line came off of a massive sell off resulting from the justified flow of orders coming in from the major prior swing highs. That establishes a rock solid condition for you. You need to have a VERY good reason to buy into that momentum. Is a small bullish pin bar coming off a minor PPZ (compared to the one further below) a reason valid enough?

A very common mistake to make initially for traders new at trading PA bars is to look for them in isolation. So they have pretty much learned what a bullish pin bar is, and then its just natural to want to trade it wherever they spot it. The story is most often more important than the bar itself. The bar is the trigger, but its the story (location, confluence, space) that make or break the trade.

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Quoting ghous

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{quote} Hey B, A good question to always ask before you execute an order is "Why will sellers/buyers be interested to get in at this price?" Looks a pretty straight forward question, almost lame but it goes deeper than is seemingly apparent. The selling that helped price reach your yellow line came off of a massive sell off resulting from the justified flow of orders coming in from the major prior swing highs. That establishes a rock solid condition for you. You need to have a VERY good reason to buy into that momentum. Is a small bullish pin bar...

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Quoting Berserker

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Here's a weekly chart of GPBUSD. I'm thinking that we are going to hit the downward trendline again for a retest soon - would anyone play this and if so, how? I would be thinking of looking at PA around this trendline on the daily charts. Should i have any particular bias, or wait to see what happens? Thanks! {image}

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Quoting fxgroup

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{quote} Hi The price is retesting the triangle and is doing a range market,so IMO the safiest way to trade it is waiting for weekly information at the range market's support. This information coul be the input you need in order to go long ( eventually) till the resistance of the range.

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Quoting Berserker

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{quote} Thanks for your answer, appreciated If you don't mind, what would be wrong with playing a daily signal of either the bottom of the range or a retest on the triangle? Would you not consider this a safe/probable enough move? Cheers!

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Quoting Donaciello

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{quote} Here's how I see it (as I think we're in an identical thought process here). The double PB is bouncing off 1.6250, but there is quite the lack of space because of the current box midrange (which I have at 6450-60) and the RN 1.65 directly above that. Safe is not how I would state this, but I do think it's tradeable, if the stops are moved quickly and profit is taken in the same fashion. Good luck trading! {image} {image}

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Quoting Berserker

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{quote} Thanks for your analysis Donaciello. I need to pay more attention to BRNs in my own analysis, I always forget to factor them in, until my trades stall at one of course I'll be waiting to see some sort of definitive PA of this current position before putting a trade in, and will be happy to pass if there isn't any. For me, the pins at the moment aren't quite big enough - although, do three short pins in a row make one big one?! Cheers, trade well!

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Quoting Donaciello

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{quote} I personally do not use this logic; instead I'd be looking at the pin's individually, if they are all small, they don't convince me. It does however tell me that if their tails get violated, they often provide momentum (obviously because of the likely stop placement Ghous was talking about) If however one of the pins qualify, I tend to somewhat ignore the other ones being pins and look at them as just bars surrounding a PB. They do however influence trade management decisions if those surrounding bar make for a shoulder of the pinbar. Hope...

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Quoting Donaciello

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AUD/CAD has broken a falling trendline, but the 365 EMA has capped it so far. With parity close by, I'm looking for this one to close back within it's previous range for a move down. a big BEOB, PB or DBHLC would be nice . {image}

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Quoting Berserker

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{quote} - BUT going only by my 'feeling' is surely the way to the poorhouse! - {quote}

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Quoting Berserker

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I need to pay more attention to BRNs in my own analysis, I always forget to factor them in, until my trades stall at one of course

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Quoting Tail Gunner

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{quote} I seldom try to trade through round numbers, unless the trade is quite compelling. I know that everyone has their own strategy, but I try to target "the meat in the middle" -- i.e., the 50 or 60 pips between the round numbers at the 20 to 80 level (if long) and at the 80 to 20 level (if short). That strategy represents about ninety percent of my trades. I worked that strategy out by trial and error -- and by getting burned by too many round number price deflections. My motto: KISS. Now, if I can just work out a method to ride the long trends....

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Quoting Donaciello

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Went short @ 83.95, on the retrace of the monthly BEOB. Targeting 80; ditching it at 85.80 (SL) in the worst case scenario. {image} Let's see how this turns out!

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