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james16 Chart Thread
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Oct 29, 2010 12:47pm
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Quote:
Originally Posted by esbatu
Hi guys, I've been scratching my heads over these two PB. They are quite similar, both located at swing low with divergence. They are only 30pips different in their low. The first one worked out, in terms of reaching the FTA, but the second one worked out even better. I think, I read in some posts that some of you take the second one but pass on the first one. Anyone like to share the idea why?
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Your chart concerns me...a) you are zoomed in and b) it is blank
If you go and mark you monthly, weekly, daily and finally 4HR PPZ's then it should become clear why one pin went to FTA and the other didn't 
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Oct 29, 2010 4:13pm
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Quote:
Originally Posted by esbatu
Hi guys thanks for all your comments.
Hi Han, in my chart they both close lower than the open, although the first one close on the weaker side but it is bigger in size. Both also fighting the same downtrend and trading right into ppz.
Hi Nasir, of...
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Is that the only PPZ you have. Share a chart with your PPZ's and I'll happily provide my own thoughts.
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Oct 30, 2010 4:10am
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Quote:
Originally Posted by esbatu
Here you go lovejoy
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Your 1st pin is just below a PPZ - you dont want to be trading into a PPZ you want to be trading away from them. The lower pin was off a third touch off a TL, had divergence and was also in the zone of a larger TF PPZ.
Here are my charts starting with the weekly, then the daily then the 4HR. It's no surprise that the best PA setups occurred in the higher TF PPZ areas.
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Oct 31, 2010 1:14pm
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Quote:
Originally Posted by esbatu
Hi Lovejoy, thanks for your charts and explanation. It's funny your RSI looks totally different from mine. Guess it's due to different closing time. And did not realized the TL there until you and Nasir pointed out. Thanks a lot man
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That's because I use RSI compared to the High or Low of the bar in question instead of the Close - thus it will look slightly different.
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Nov 1, 2010 8:10am
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Quote:
Originally Posted by Pinbar
I got it, I think you mean these previous highs.
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This was a classic setup.
Weekly BEOB price retraced back to the broken support with 61% fib confluence (one for the touch traders) and formed a 1hr DBHLC, 2hr pin then a 4 hr pin.
Last edited by lovejoy80, Nov 1, 2010 8:33am
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Nov 1, 2010 2:03pm
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Quote:
Originally Posted by NosferatuMan
Great entry.
Did you close it allready or do you plan to ride it down (in case the weekly BEOB breaks)?
Nos
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I closed my ANZD trades - I was planning to hold onto them but am impatient and when it did nothing for a few hours I decided to take full profit.
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