This chart is an example of a breakout, and pullback. Waiting to see if that pinbar breaks, good setup.....hopefully it will breakdown hard for you. I would suggest that if it gets towards the bottom, I would be break even with my stop by then. ...

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possibly, but i would have liked to see the gap fill a bit more......B trade imho.

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You two are breaking one of my cardinal rules: "Never, ever, under any circumstances take a trade right before an interest rate announcement." Anything taken in the AUD based on those set ups was nothing more than gambling. The RBA decided not to ...

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Let's ask a more important question: Why are we 1 - calling out signals 2- listening to random people on forums as to where to take a trade or exit? If you want to lose money in the markets, you can do it all on your own, I promise. Clockwork

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I use specific bar patterns. But if it goes against me, so be it. I don't flip-flop on trades. Besides, this pair is a mess.....I feel no real need to be involved in it. (Or it's twin-sister USD/CHF) Clockwork

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In response to Rabid's post above, I thought now would be a decent time to write about this. "You need to know the pitch that's being thrown to you." Trading is similar to batting in baseball. (or cricket for that matter) The pitcher throws a pitch ...

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Yes and no....it will be some of the same, some different. As far as the zones....yes kinda. But to be honest, when a pair is this crappy (not paying attention it at the moment.) I tend to ignore all but the most important areas.....like the recent ...

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It was based upon a shorter time frame than the one you posted. But it had a gap down move at the open, and retraced, and took off (down) again.....a classic move. It was major support at that area. Simon Property Group is a property company that ...

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I would wait to see what happens with that fat pinbar. If it breaks to the downside, that's pretty bearish. I wouldn't be in this trade until we see what happens with it. I react, not anticipate. Clockwork

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Yes there is. I took a short that exact way today in a stock called SPG. However, that's a bit trickier, an advanced. I will get to it in time. Clockwork

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I have found that past price levels actually work. A perfect example was watching the AUD/USD go over .80 several months back - It was a 16 year high....and it fought and fought and fought until it finally gave in. After that it was a straight shot ...

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All bars mean something. Every one of them. — All bars on a chart mean something. They are simply measures of crowd psychology. Price Action is simply an extension of it. So when you look at a chart, what is it that you see? Do you see ...

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What about the swing low? I don't anticipate anymore, it only leads to losses. Clockwork

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Right, agreed.....but used with the s/r areas I point out in some of these charts - it all comes together quite nicely. Clockwork

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You have to watch listening to Bemac. It's noon now, which means he may be blind drunk.

Extracted Thread (per thread starter's request)

I certainly hope so. Welcome.

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Sitting on your hands. — Sometimes it's a matter of waiting for that ship to enter the sights of your periscope. This chart shows that there are three possible areas in the box we can look at. We have the top, middle, and bottom. Not that I ...

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Agreed.

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Ian is correct - Sunday gaps like to close, however....that doesn't mean you should just jump into them.....that is another discussion for later on as to which ones are worthwhile. Clockwork

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The other book I recommend. — Sorry, there is no free download for this one, but it's a great reference book to have..... "Martin Pring on Price Patterns" This book goes into a lot of the price bars used in James16 charting forum. Pring is a ...

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