Hero calls followed by margin calls...
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedJust a quick question. If the next bar following a PA bar does not confirm do we ignore the PA bar, if that makes sence! i.e. on the chart below NZD/JPY the bar following the pin bar doesn't break the pin high, (although it equals it so i guess it in its self is classed as a PA bar DTLC if I am correct?) does this invalidate the pin or can we look at the next bar for a break? And would you take trading day into account, ie was the friday bar which, (assuming trading is thinner on Friday?) didnt have the momentum to break the pin high. Sorry for...Ignored
DislikedHey Tim
It depends on ones rules. Many will wait till it validates even if it takes 2-3 bars after(as long as it doesn't invalidate it). I use the breaking or validation of the bar as a measure of momentum, so I will cancel my order if the next bar doesn't break about 95% of the time
Best
MIkeIgnored
DislikedDoes anyone think this as a worthwhile watch for tomorrow? Would love to hear others' opinions on this.Ignored
DislikedI was curious if this would be a viable pinbar on the GBDUSD? My thought was to enter on the break of the bar, about 6170, take 1/2 off about 6200 and move stop to b/e. Then see what pa is telling me around 6270. I'd appreciate thoughts on it, especially concerns about it.Ignored
DislikedI was curious if this would be a viable pinbar on the GBDUSD? My thought was to enter on the break of the bar, about 6170, take 1/2 off about 6200 and move stop to b/e. Then see what pa is telling me around 6270. I'd appreciate thoughts on it, especially concerns about it.Ignored
DislikedNice job, 5.25 . good catch on the top of the Weekly consolidation . .
That PB is too small to be tradable in my book, but I do like the 1.58 level, which is the bottom of the Weekly consolidation. If Price is about to break that 1.58 (Weekly consolidation bottom) . . that Weekly BEOB may be the hint.Ignored
DislikedDBHLC on the CHFJPY. At a swing high. Weekly has a small pin-ish looking bar (in reality maybe more of a neutral bar).
If it breaks, hopefully 88.00 holds as resistance for a nice close stop.
Still demoing.
Thoughts?Ignored
DislikedHey WP
Good way to look at it. Often we can play bars like this if we have our line in the sand(as your 88 mark is) so if we are proven wrong we can drop out. Here was my view
http://www.forexfactory.com/showpost...ostcount=90261
and here is Jarroo
http://www.forexfactory.com/showpost...ostcount=90281
Best
MikeIgnored
DislikedThe week prior to the latest wBEOB had a bar low of 1.5943. On the daily this area is reflected by multiple bar lows. It has acted as a PPZ since last Oct (although maybe more of a support than resistance role......is this aspect significant?Yes). Wondering if it may provide a low risk/high reward retrace entry into the weekly BEOB.
Cheers,
JohnIgnored
DislikedYes, there could be a early entry to the Weekly BEOB but we must remember that this is a Weekly BEOB is in consolidation not at a swing High where we like them.
If you look at some of Mike's and James16's charts and posts (maybe some of mine) they show that one way that Price may break away from a consolidation area is when an Outside Bar engulfs the consolidation area . .much like our Weekly BEOB on the Gbp/Aud.
I would have liked the Close of the Weekly BEOB to be below the 1.58 ..that would have be a better indication of its strength to...Ignored