james16 Chart Thread

Quoting Guitarbloke

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{quote} Thanks Inco. Yep, price will go where it wants to. I read somewhere that a " 1, 2, 3 pattern" can signal a trends end. Either way, no harm in waiting and letting the market confirm it's direction. No need to have to get in at the exact bottom or top of a trend. That would be just plain greedy......:nerd:

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Quoting Guitarbloke

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Thanks for sharing your trades Mike. Question for everybody. I'm fairly new to trend lines. In the NZD/CHF daily chart below, price has broken up through that trendline. Does this usually mean the trend has turned and is now in an uptrend? Many Thanks, GB. {image}

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Quoting patapouer

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{quote} Touch trading is entering on a trade on the assumption price will react, without waiting for a price action set up.some will say price movement is price action and will base their trade on it (see Felix cattus 1 minute thread for example). Other will consider the confluence of levels at a particular price: RN plus s/r plus fib plus TL plus......Take care

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Quoting mordin

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{quote} Hey C! I have basic knowledge, but touch trade is a trade without PA confirmation, more like taking it because of the orderflow. You just "know" that a PPZ is so, so good, that you "anticipate" to the movement. (more or less that's the definition) A wick play, is just a trade you take to fill the wick of the previous bar. More or less like a gap, when you take a trade to fill the gap. I still haven't dabbed much into this, so can't really tell anything more. This type of trades are on my learning list, but first I have to get better with...

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Quoting incognito517

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{quote} I'm wondering the same thing I assume it's play from a key event zone like support without PA. I have no idea though, and I'm curious to know.

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Quoting incognito517

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I'm contemplating a short move on AUDNZD. Weekly looks to be reverting to value so that's good. There's no PA on the daily and I will have to play the break of that little doji. What about the 4 hour? GB's a specialist on that TF, what do you think? Or is this just a horrible idea? Weekly: {image} Daily: {image} 4 Hour: {image}

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Quoting Guitarbloke

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Thanks for sharing your trades Mike. Question for everybody. I'm fairly new to trend lines. In the NZD/CHF daily chart below, price has broken up through that trendline. Does this usually mean the trend has turned and is now in an uptrend? Many Thanks, GB. {image}

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Quoting Donkey

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{quote} Hey GB...I will look for a chart or 2 over weekend to find examples, but a TL can change from acting as resistance to support and continue the trend. In your screen shot the upper TL is acting as resistance, Higher Highs. What happens if the TL is broken making new Higher Highs? The down trend can continue and the Trend line can now support Lower Lows - ultimately becoming a diagonal PPZ. Here is a rough pic I drew up - hope it helps. TLs can be very subjective. I use them mainly for confluence and part of the larger "story" that Mike Speaks...

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Quoting oble

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{quote} There's so much to learn hey! But I think at least for me, I'll just keep notes on patapouer and mordin's explanation for now. I think I should keep trading and becoming better with the classic PA trading strategies first. I'm a little scared of flooding my trading plan with too many strategies at this stage.

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Quoting Guitarbloke

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{quote} Thanks Oble for that link. I appreciate the effort. Inco, there looks to be a bit of traffic in the area and BRN of 1.1000 is 30 pips away which did cause some congestion in this zone last year. I would want to see strong PA, and I would've preferred weekly PB to close bearish. Of course, price could also rocket down. Daily inside bar breakout, or breakout of the H4 cluster of bars could be a possibility? Looks a bit clearer below 1.1000 to me. Edit: P.S. Looks like a few unfilled buy orders sitting there to the left around where price is...

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Quoting incognito517

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{quote} Youre right GB, and that 1.10 BRN may prove problematic too; Ive canceled my sell order. No trades today. No wait... [Activates desperation mode] Im putting 12 bucks on your 1 hour PB. If its a loser Im going to skin you alive on Monday. {image} You guys have a fantastic weekend. Im off to get wasted.

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Quoting Guitarbloke

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Thanks Inco and Adhavan. That pattern rings a bell Inco. Morning Blade. Hope you didn't go long in the last hour on USD/CHF?

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