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- DropThumb replied Jan 26, 2012
Ok. Now I'm down off my high horse because I have no idea what you're talking about.
james16 Chart Thread
- DropThumb replied Jan 26, 2012
This was my first trade on my official James16 demo account, and I did use HCR for a stop loss. Took half at 1:1 RR for +45 pips and moved stop to BE. Took the second half because it stalled and I wanted a positive first experience.
james16 Chart Thread
- DropThumb replied Jan 26, 2012
Hopefully there's a chart attached to this (my first attempt). I would love some thoughts. Edit: I'm so proud of myself for posting a chart. I feel like I've graduated in a way.
james16 Chart Thread
- DropThumb replied Jan 26, 2012
Great post Mike. I've only been around this thread for a little over a week, and the wisdom it offers is clear for anyone who's been trading for a few years and beating their head against the wall just to keep their nose above water. I think the ...
james16 Chart Thread
- DropThumb replied Jan 25, 2012
I'd be concerned about going short here with parity looming just below, and we're sitting right on the 50 fib from the major uptrend from July-Oct. I'm waiting to see a touch on parity.
james16 Chart Thread
- DropThumb replied Jan 25, 2012
That definitely helps Mike, thanks. I'm trying to keep my charts almost entirely blank while I learn this stuff. My tendency right now is to think that more lines offer more help, but I generally find myself more confused with each added line.
james16 Chart Thread
- DropThumb replied Jan 25, 2012
Man, I wish it were that clean in real life. To clarify, when you are looking to enter trades are you using levels taken from the time frame you're trading on, or levels from other TFs, or a combination?
james16 Chart Thread
- DropThumb replied Jan 24, 2012
Yeah. I've nixed any notions of going short on the U/C for the time being because of looming parity. I'd rather see a 100+ pip pinbar with a nose through parity and a violent rejection.
james16 Chart Thread
- DropThumb replied Jan 24, 2012
Hector, I think you're confused on the TT as far as Pinbar and jarroo have discussed in recent posts. Although it's certainly possible I'm the one who's confused. On the chart you posted we've just had price break through and close above the PPZ ...
james16 Chart Thread
- DropThumb replied Jan 24, 2012
Update: I was stopped out last night on this EU long with +19 pips using a 30 pip TS (had to sleep), and re-entered this morning on a 50% retrace of yesterday's BEOVB. Currently +40 with stop to BE. A close above the 1.3080 area would be a nice sign ...
james16 Chart Thread
- DropThumb replied Jan 24, 2012
That's perfect Jarroo. I'm still a bit ambiguous on how to define PPZ, but I'm definitely getting a better understanding of how to utilize them to my advantage once they're defined. In your GJ example am I correct that you've taken that PPZ from a ...
james16 Chart Thread
- DropThumb replied Jan 24, 2012
Yes. Basically I am wondering if you look to enter a trade at the close of a breakthrough bar or whether you simply use that bar as an "attention" signal to then watch for setups. Pinbar's example of the touch trade on a retrace to the breakthrough ...
james16 Chart Thread
- DropThumb replied Jan 24, 2012
Hi Jarroo. A question about PBT and CA/CB. Do you view the CA/CB as an entry point, or just as a sign to look for further PA in that direction?
james16 Chart Thread
- DropThumb replied Jan 23, 2012
Thanks Mike, that's definitely the hardest part; keeping it simple. The great thing about this place is that there's so many voices, but it can also be a curse. You get enough voices in your head and before too long it's impossible to do anything ...
james16 Chart Thread
- DropThumb replied Jan 23, 2012
EURUSD long — Alright, so I'm long on the EURUSD (on demo of course per Jim's rules.) My Daily bar just closed in a nice BUOB (compared to Friday's bar) and above the 23.6 Fib on the move down from 10/27. I know there's some traffic just above ...
james16 Chart Thread
- DropThumb replied Jan 23, 2012
I've been in on this thread for less than a week, but this post got me excited because I was thinking along the same lines. I know if there's anything in my own thought process that matches yours, I'm moving in the right direction.
james16 Chart Thread
- DropThumb replied Jan 20, 2012
Thanks Jarroo, that certainly helps. When you're looking to outline PPZ do you generally stick to the time frame that you're trading in, or do you define them by looking for a confluence of Daily, Weekly, Monthly?
james16 Chart Thread
- DropThumb replied Jan 19, 2012
USDCAD setup — Looks like a large pin bar forming on the daily U/C. On my chart it's paired with some fib confluence and a bounce off the 150 sma. I have no idea how to post a chart, but I would love to hear thoughts on this pair from some of ...
james16 Chart Thread
- DropThumb replied Jan 19, 2012
Looks like a nice little divergence on the RSI too. It will be at least a few months before I'm looking at 4H charts, but I'm already seeing a much clearer view of things thanks to this thread and the charts you guys post.
james16 Chart Thread
- DropThumb replied Jan 19, 2012
Thanks biDc. They've been added to my James16 "Glossary". I would surmise that there is also an "HCR"- Highest close of resistance. Correct?
james16 Chart Thread