I agree with PB: Price will in get in trouble at the boxes, the TL and the EMAs. But I think it's going down. Maybe we see a retrace to the 2.7 area before. My arguments for this are the high momentum this bar may produce and the fact that it took ...

james16 Chart Thread

LOL. That's a nice way to put it. The toothpaste I just bought is so pungent I would probably go blind.

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A little self-talk answered my question : on lower TF this pramid shape is a triangle. So, yes, it should be more reliable or at least gain more momentum as it breaks out.

james16 Chart Thread

No problem. It's my bad, Mike. I've got a hard time explaining it. I will just have an eye on this topic and post charts as soon as I see a formation like this again. Thank you all for your help! EDIT: BTW, I just saw this pyramid-shaped formation ...

james16 Chart Thread

Thanks, Donkey. I thought of it like a chain reaction: If price breaks through level 1 (TL on my chart) it is more likely that it breaks through level 2 (365EMA on my chart) as more sellers jump on the bandwagon. This in return makes it more likely ...

james16 Chart Thread

Hey Mike, thanks for your help. It's a little bit hard to explain as second-language speaker. I just got the impression while backtesting that multiple important levels like PPZ, BRN, TL etc. when they are a few pips apart from each other can give ...

james16 Chart Thread

A question to the experienced traders: I sometimes see very hard breaks at confluence levels: BRN, TL, EMA etc. Am I right with my interpretation that when confluence is not so much a point of where things fall together accurately but stack up a few ...

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NZDJPY broke weekly TL and daily range. Bullish PA on 4h breaking 65.00 and PPZ would be nice. Looking to the left we see a big range and some mess on weekly. Nevertheless, whenever price broke through the middle (65.00) it was often good for some ...

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The disorientation one experiences in the beginning is a really hard thing to go through. I was also thinking about giving up more than once. This thread and the great traders in it kept me from surrender. Last not least it was your dedication, PB, ...

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EURCHF: Channel breakout above PPZ and BRN?

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Yes, that is what Jarroo pointed me to. I was totally ignoring this until now. It dawns on me: A retrace is a retrace. It tends to retrace to where things line up or where it broke out of. Be it a range, a trendline, a PPZ/Flip Zone or a fib. ...

james16 Chart Thread

I remember reading that BEOBs/BUOBs often retrace to their 50.0 or 61.8 fib and then break. The one on CHFJPY has just been lingering in the upper third of the BUOB. Does the depth of a retrace matter or is S/R (i.e. preceding highs/lows) much more ...

james16 Chart Thread

Very nice. Would this retracement on CHFJPY be sufficient for you to enter the trade or would you like to see even better PA than at, say, a 61.8 retracement? My guess is that the BRN, EMAs and the daily TL add to the fact that it's not retracing ...

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Great to hear that we agree, Mike. Today seems to be Inside Bar Day. Lots of them on many different pairs. But this and the one on EU look the most promising to me. I would not even think about trading them since I don't know exactly how to do it ...

james16 Chart Thread

No. To me it looks like it's loading up and may burst to the downside. Do you think I'm missing something?

james16 Chart Thread

From my very humble experience and from what I've read I would guess EG is about to explode. @BRN, @61.8%, @TL, @150EMA, @PPZ. What do you think?

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Very interesting. Thanks for pointing that out, Jarroo. Here is another expample: DBHLC on daily GJ. Retrace on 4h with a PB. The PB looks weak + there's a recently broken TL and a PPZ@RN below. So I will watch it from the sideline.

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The wonder of PA. Great trade, xmzhang! Very informative post, PB. To use different styles for the lines is a very good idea. I will give this a try today. I would not know what to do either. But it looks like there may still be some downward ...

james16 Chart Thread

I see. Breakout trading seems to be even more discretionary and thereby more advanced stuff than "simple" swing high/low trading with confluence. The PA often looks subtle but frequently precedes very powerful moves. Looks like a great way to ...

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