Agree with the fundies of both currencies, but the correction/trend reversal argument depends on the time frame. 15 minute charts are generally going to show a different trend to the monthly. This move down on the monthly chart looks like a piece of ...

EURUSD

Interesting there Jim. I see the Aussie PB we were talking about is not a PB on your chart

james16 Chart Thread

You'd be amazed how price reacts to support/resistance right down to the tick charts. It's only that they're broken much easier on these lower time frame trends. Price still does however react to these lines (bounce, break, retest, etc..). ...

james16 Chart Thread

I'm sure you've heard the saying "there's more than one way to skin a cat", I also think there's more than one way to skin a playable PB too. Someone may find this useful, so I'll post how I trade a PB that is of interest. 1) The stock standard way ...

james16 Chart Thread

They both influence this pair. EUR/JPY = EUR/USD x USD/JPY. If you don't believe me, pull out your calculator and multiply the EU price by the UJ price.

Daily EUR/JPY analysis

There is strong resistance turned support, which is much clearer on the weekly chart. You can see that it acted as resistance back in early 2008 and then again in mid 2008. Price has broken through it, so it should now act as support. I also would ...

james16 Chart Thread

I agree with jaroo that it has potential. I would also take into consideration the H&S pattern on the weekly {watch what the price does around the neckline if it gets back up there}.

james16 Chart Thread

Long term secular trend is clearly up. See monthly chart in previous post.

EURUSD

Where to next? If the price breaks this level, we may see 1.44. If 1.44 breaks we may see below 1.40.

EURUSD

The bottom is coming!!! Just don't ask when Could be Monday, or could be in 10 years time. Just remember I told you so!

EURUSD

No problems melmini, I'm glad it made sense to you I would have to agree with Jim on this one too, a long nose is nothing to be concerned about {the longer the better actually}. It is really only the position of the close on a valid PB that is ...

james16 Chart Thread

You are spot on, the volume you see is that of your broker, not the entire fx market. If you use a broker who has hundreds of thousands of clients, it would be useful at times {similar to the way it is useful in the stocks/futures market}.

james16 Chart Thread

Well said Seeking. I couldn't agree more on both parts {fundies and failed PB's}. Your input is, as always, concise, straight to the point and most appreciated. I'm sorry, but with that analogy, you would not have taken the PB's on the Aussie {after ...

james16 Chart Thread

PPZ in favour were previous lows back in late 2007 and a monthly 23.6 fib of the bull move from September 2001. PPZ against is the monthly support (touched 4 times) now hovering at 0.82xx Good or bad, I guess it ain't over until the fat lady sings. ...

james16 Chart Thread

The monthly PB on the Aussie is a ripper. I missed it because I was fishing Would it have scared some off though because it was in a clear bull run since 2001? The weekly AU PB on my feed actually went above the 61.8 retrace, yet it still worked ...

james16 Chart Thread

Not too strong, I just couldn't see what you disagreed with. Now I understand. I guess it's personal preference as to what trend each likes to work with. I personally prefer the "primary" and "secular" trends as they're stronger and move further

james16 Chart Thread

Not sure I get you here, the set-up will either work or it will not. So I see it as a 50:50 chance for either or both, not that one will definitely fail. The doji chartist may refuse to take the trade, while there is still a 50:50 chance that PB ...

james16 Chart Thread

Not sure what you don't agree with. I never said anything about time frames aligning. IMO, a pin bar (or any other PA set-up) either works or it doesn't. Some may disagree here, but a working PB should move at least the distance of your stop. I ...

james16 Chart Thread

As far as I can tell, there does not seem to be a consensus on the best time zone to use for PA. With 24 hours of variation (GMT-12 to GMT+12), there's going to be an array of differences from broker to broker. I personally think it does not matter. ...

james16 Chart Thread