Referring to the BEOB in the chart in post 130,407, this raises a question that I have been wondering about for awhile. Perhaps one of the senior members could answer this question. Here is the chart: url How does the concept of space apply to ...

james16 Chart Thread

I wrote about precious metals ten days ago. Shortly thereafter, price did exactly what I predicted. I wish that I had rode the whole ten-day decline! Instead, I waited for confirmation and I just took a small bite. url I also believe that we ...

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No, I was waiting for price to hit the TL at the next support level (1.8325), which would have been the fourth hit at that level. A price reversal on a 4H chart off a single-bottom with no PA is too much risk for me. I will leave those trades to you ...

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Hey Jonas, would you mind explaining the reasoning behind entering where you did on the nzd/usd trade. I understand that some traders do not wait for a PB to break before entering a trade, but I thought that one of the cardinal rules of this method ...

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Awesome! Thank you for taking the time to do the work and then share. A link to your post belongs in Post #1. It will definitely help people new to price action.

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I have followed the price of gold and silver quite closely for years. Unlike many precious metal analysts, many of whom now believe that gold and silver have already resumed their bull markets, I think that there is a pretty good likelihood of gold ...

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Thank you for confirming that point. I was getting confused seeing several members over the past few days posting BEOB or BEOB bars that were not at swing points. BTW: would you mind taking a look at Post No. 130,187. No one ever answered my ...

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aud/nzd: my chart shows a DBLHC at 1.0536 for Wednesday and Thursday, with higher closes on both Thursday and Friday. Moreover, unlike your chart, the Friday low at 1.0543 did not fall below either Wednesday or Thursday's low. I had not noticed the ...

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Hey guys. Obviously, you two have much more experience than I do, but isn't that trade going against the main trend, going into traffic, and also quickly heading into a S/R level at 0.8350? That trade seems to have a great deal going against it. ...

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Aside from the issues mentioned by Albus, there is also a lack of space.

james16 Chart Thread

Price is definitely retreating from a PZ. The big problem is the enormous amount of traffic that price will need to battle during its retracement. Price will also need to pierce that declining TL (which your chart does not show).

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I am guessing, by the context, that "base entry" means the location of the entry of the trade -- at the base created by the retrace of price back to the new support level. I had read miscellaneous references to "touch trading" in this thread, but ...

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Post number?

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usd/jpy -- weekly BUOB: Is the position of this BUOB considered a true swing-low? Interestingly, it engulfs the three previous bars. Thanks. Have a great weekend.

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I agree with the previous comments. The one thing that I would emphasize is that the entire PB lies beyond the 1.6400 PZ, which means that you have a very limited space within which to take profit before there is a good likelihood that price ...

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It is not a PB. The open and close prices of a PB should be within the inside of the previous bar. Moreover, the whole bar is beyond the 1.5300 pivot zone, which means that price might really struggle to get back to the other side of the PZ. ...

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gbp/cad also currently has divergence indicated on the MACD (on the daily TF), which could indicate potential near-term bearish PA.

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If you are referring to just the bars themselves, numbers 1, 2, and 4 are legitimate PBs, but number 3 is not because the open and close did not occur in the lower third of the bar. Just because numbers 1, 2, and 4 are PBs does not necessarily mean ...

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I came within a pip of taken that same trade, but fortunately the trade did not trigger before price reversed. While I thought that the traffic level was acceptable, in hindsight I can see that you are correct about the need for a bigger swing ...

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I actually asked the senior members about this nzd/usd trade three weeks ago! url ghous answered my question a few posts later.

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