DislikedAlready reached it's target,
Great looking BEOB forming on the Daily too. lets hope it closes that wayIgnored
![](https://resources.faireconomy.media/images/emojis/64/1f44d.png?v=14.0)
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedAlready reached it's target,
Great looking BEOB forming on the Daily too. lets hope it closes that wayIgnored
DislikedThx to the seniors....I'm getting down with this...I think I'm having a "seniors moment"Ignored
DislikedDid you actually take that trade?
I don't see any orders on your chart.Ignored
DislikedMy favorite continuation play(and one of my favorite plays) is when you get a continuation outside bar that engulfs a range of bars at an important area. This forces price to these first trouble areas very strongly. But I think they are more difficult to spot then the traditional way and why we stick to the swing high/low around here. Gotta cover those basics and build the foundation
MikeIgnored
DislikedApprox. like the one is forming on the USDCHF daily (some weird combo of outsidebar/pinbar/indecesionbar)?Ignored
DislikedDespite strong US economic data today the early bullish move on USD/CHF has evaporated.
There is a long bearish wick sticking out from the current peak in the up trend in this pair.Ignored
DislikedHello everybody!
Indeed, a PB is forming on the 1D (GMT time) but is it tradeable in james16 terms? I mean can we call the place where it occurs swing high? It's rather a plateau.
Pros:
- Nice, northpointing pin bar with long nose
- pierced 1.6000 but will probably close below it
- EURUSD hit an important s/r and was rejected with force (these pairs are corelated so EURUSD could well hint us to the USDCHF movement)
Cons:
- PB is not located directly at swing high but at the end of a plateau
- short trade would be countertrend
What are your...Ignored
DislikedAlso, on my feed the open and the current close of the bar are in the middle of the bar so it is an indecision bar rather than a pinbar; look at how price bounced off the bottom of the previous days' range. If it closed below the BRN and the range of the previous days' bars, I'd be all over it. Right now, it's an easy pass for me.Ignored
DislikedHey Wak
THis would still be a reversal bar more then a continuation BUT you are correct about the dynamics if it can close below the range. It MUST close below that range/round number for it to be traded for me. But yes you are sniffing them out now
MikeIgnored
DislikedThanks for the quick and excellent reply, however could you elaborate more when you are saying that it must close below the range before it's ok with you to make it a "tradable trade"? Whats going on in your head, tell me interesting to learn!
In my world, I'm willing to make a entry below the bar even if it doesn't close below it.
By the way, I've read the book by marting pring price patterns now. Excellent reading, it was exactly what I was looking for thanks.Ignored
DislikedHey W
Firstly let me say that this is only the way I interpret this situation and go about it....Ignored
DislikedWith USD/CHF, they are all BRN's or none of them are proper BRN's
1.1700, 1.1600, 1.1500, 1.1400.
The bodies of the last week's candles are wedged between 1.1500 and 1.1600.
Price is winding itself up, pushing long wicks out in both directions.
The medium term trend is up
The long long term trend is down - a big big down since 2001.
Pull right back onto the monthly chart.
Now quite what was going on in 2001 has any proper influence on today's price is debatable.
Either way what appeared to be pb's over the last week eventually turn out...Ignored
DislikedI'd just drawn in that trend line (see chart) Powerful stuff!! There is also confluence with the 61 Fib from high of Oct 2006 to low of March 2008.
I'm not sure of the relevance of that Fib retrace over such an extended timescale - any seniors care to comment on that??Ignored