[quote=sweetaction;8910690]{quote}
I'll answer your question by asking you to answer this one Open the d1 chart and then locate the candle for the 21st April then have a look at the PA from this point on would you say its bearish or bullish ??definately bearish!!
The PA from this point has taken out demand at 7630, 7510, 7460 and will soon be working on 7410, and many other minor levels so the critical question to ask yourself is this a pair you want to long right now??
There is no reference point indicating we are at a major level at present. I think ive been looking inadvertently at counter trend moves/pullbacks from minor levels rather than major levels (which i personally dont want to do lol ), Is it bad practice to trade continuations of overall bias after a pull back if there are enough pips between the pullback and the next minor level? or is it best to only play major levels I would guess Major levels have the higher probability depending on PA.
I try and look at charts without bias, this is incredibly difficult for humans to do and we have this (I want to be correct all time bias built in) but you have to face reality. I think I might of said yesterday that i think its smart to wait on this pair because a few demand levels haven been taken out we have had a shift from the RBA and its NFP tomorrow I will wait for NFP to be released and see where it takes the market but in the meantime identify major levels so i have a clearer picture of what levels the NFP takes out "if any" or if retrace's to the 38% or 50% area (would that be of the previous candle or high/low) for a trade opposite these retrace areas referencing the W1 and D1 but using smaller timeframes for entry? .
In terms of your question regarding the levels you have mentioned price hasnt hit 7430
Thats why i need access to more acccurate charts i have 2 i use one says it has hit that level the other says it has not lol.
To get an idea of appropriate speed for this pair and where the imbalance might be, look at the chart and identify the big candles I bet they are more than 20 pips, if you indentify a level and it takes hours to move 20 pips this should tell you that you are trading in the wrong direction and should get out of it as quick as possible
Understood nice infomation.
I don't want to discourage you so please don't think I am having a go at you or attacking your analysis as I am not, but I am very straight shooter and call it as a i see it in the moment I am looking at it I hope this helps you.
Im not discouraged at all i want my analysis to be picked so it can be corrected as its more a chain of thought delivered to expose all weakness. I greatly appreciate all the feedback and direction that you give as it very valuable sorry if its taking me a bit long to get into gear with the market, Im sure you have explained everything that is needed to be known. Its my initial interpretation thats slow off the starting block haha. But spending time on specific charts i.e getting familiar with them and feedback will help to give me more than half a chance to be in tune with markets. Even though i have only got elements i do believe i can see this is the way to trade.
Many thanks again for your help and support!!
James
I'll answer your question by asking you to answer this one Open the d1 chart and then locate the candle for the 21st April then have a look at the PA from this point on would you say its bearish or bullish ??definately bearish!!
The PA from this point has taken out demand at 7630, 7510, 7460 and will soon be working on 7410, and many other minor levels so the critical question to ask yourself is this a pair you want to long right now??
There is no reference point indicating we are at a major level at present. I think ive been looking inadvertently at counter trend moves/pullbacks from minor levels rather than major levels (which i personally dont want to do lol ), Is it bad practice to trade continuations of overall bias after a pull back if there are enough pips between the pullback and the next minor level? or is it best to only play major levels I would guess Major levels have the higher probability depending on PA.
I try and look at charts without bias, this is incredibly difficult for humans to do and we have this (I want to be correct all time bias built in) but you have to face reality. I think I might of said yesterday that i think its smart to wait on this pair because a few demand levels haven been taken out we have had a shift from the RBA and its NFP tomorrow I will wait for NFP to be released and see where it takes the market but in the meantime identify major levels so i have a clearer picture of what levels the NFP takes out "if any" or if retrace's to the 38% or 50% area (would that be of the previous candle or high/low) for a trade opposite these retrace areas referencing the W1 and D1 but using smaller timeframes for entry? .
In terms of your question regarding the levels you have mentioned price hasnt hit 7430
Thats why i need access to more acccurate charts i have 2 i use one says it has hit that level the other says it has not lol.
To get an idea of appropriate speed for this pair and where the imbalance might be, look at the chart and identify the big candles I bet they are more than 20 pips, if you indentify a level and it takes hours to move 20 pips this should tell you that you are trading in the wrong direction and should get out of it as quick as possible
Understood nice infomation.
I don't want to discourage you so please don't think I am having a go at you or attacking your analysis as I am not, but I am very straight shooter and call it as a i see it in the moment I am looking at it I hope this helps you.
Im not discouraged at all i want my analysis to be picked so it can be corrected as its more a chain of thought delivered to expose all weakness. I greatly appreciate all the feedback and direction that you give as it very valuable sorry if its taking me a bit long to get into gear with the market, Im sure you have explained everything that is needed to be known. Its my initial interpretation thats slow off the starting block haha. But spending time on specific charts i.e getting familiar with them and feedback will help to give me more than half a chance to be in tune with markets. Even though i have only got elements i do believe i can see this is the way to trade.
Many thanks again for your help and support!!
James
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