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I'm always aware of the bigger picture
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Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedI know that we don't use fundamentals, but I was reading the news and thought that the ECB's decision to bail out Greece might mean a turn around for the EURO.
Oddly Enough this happened on the weekly's Fibzone.
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Any Opinions?Ignored
DislikedBenem
I understand the idea of "cool down and take your time" but here's the thing: from looking at the charts, I cannot see why daily/weekly is better than, say, 1H. The patterns are the same, the PPZ work, the PA works, I'm not trying to rush into profit like a fool only to lose, I have lost over £30,000 in the past, believe me I know about losses. What I mean is waiting for daily/weekly setups takes a long time, waiting for 1HR takes a short amount of time, across multiple crosses you will get a signal every couple of days easily, and they...Ignored
DislikedHei guy's think this time get it how pin bars looks like... One on Aussie and another one on Looney weekly TF(inverted corellation).....Ignored
DislikedHi everybody,
I would like to post this one.
I understand there is not of space above but it could make up to 100 pips.
The support level 1.585 has been rejected several times.
Any thoughts ?
Thanks
OgeidIgnored
DislikedYes, It is always a bonus... how did you know I was in that long trade...?
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DislikedI'm sure you are aware of the big picture, trig.
It just wasn't noted on your chart and I wanted to show the true picture of the setup with all of its confluences.Ignored
DislikedHey Trigger
Just MY person views below.
The idea is not to NEVER go down to lower timeframes, but starting out there most people can't make correct decisions fast enough, can't control themselves, and all the other things that a trader needs to have (patience, discipline, control of greed etc) to give themselves a chance to become the trader they want. I have seen too many people come and go b/c they don't give themselves a chance to be here in the long run. By learning to do this on the higher timeframes you are first of learning that it isn't...Ignored
DislikedIt seems that it was a huge sell off from that point,
money flowed into the market that's the only confirmation you would need to know that this move is sustained by real pro selling,and that there are new fresh sellers into the market.
Now we must wait and see if this sellers have the power to go through that PPZ, if they can smash the wall, we can be pretty sure it is a valid move and we are right in our assumption over the market.
PS: I'll update it after the next important eventIgnored
DislikedHey Trigger
Just MY person views below.
The idea is not to NEVER go down to lower timeframes, but starting out there most people can't make correct decisions fast enough, can't control themselves, and all the other things that a trader needs to have (patience, discipline, control of greed etc) to give themselves a chance to become the trader they want....Ignored
DislikedYes, It is always a bonus... how did you know I was in that long trade...?
.Ignored
DislikedI suppose, almost to answer myself (!), we could get the setups on daily/weekly and then drill down to small frame for a tighter stoploss and manage it that way? That way we don't risk silly big daily bar ranges as stoplosses with average targets: we can keep the "larger timeframe targets" whilst exploiting a "smaller timeframe stoploss".... maybe that's what Jim meant years ago early on in this thread???
any thoughts?
is anyone actually doing this very thing?
thanks all!!Ignored
DislikedThe one thing I found about higher time frames as oppse to smaller time frames is something that you said long ago that stuck in my head. Higher time frames are just a strong signal, because they have more data, more information. The more information the strong the signal.
Smaller times frames need much more information, almost exaggerated confluences meaning really Big bars, BRNs and multiple confluences (not just one) of PPZ, divergence etc,. , . . ok I'm starting to ramble.Ignored
DislikedInteresting. Lets assume prices are driven by random noise and information. Here, information determines the path that the price follows, whereas noise reflects short term deviations from this path.
As a trader you attempt to identify the information part, and enter positions based upon that.
In order to do so, it is important to seperate this noise from the real information. As you move from lower timeframes to higher timeframes, the significance of this noise (variance) reduces and consequently the probability that the price patterns reflect information...Ignored