james16 Chart Thread

Nice 4hr pins.

Shorted the 4 hr pin.

what you say about that???


EDIT - well, it didnt close inside left eye....so - skip

I am more concerned about the somewhat sideways trend than the exact close of the pin.

Closed yen pairs

Hey, just wanted to throw a chip in again now and then...getting a cold for being silly and running around in the cold, so I'm still sort of stepping back a bit from the usual 50 posts a day

Similiar to the AUDUSD BUOB, these are the type of setups that are a no-no for me. As raczekfx already pointed out, the places you want these setups/where they work best at imho is the opposite end of a/the swing.

If you get a DBHLC reversal, it's good to have a downtrend which just corrected upwards and then shows a DBHLC / BEOB / PB (or Tiki's newfound love, the IB at s/r).

Same thing with the opposite: uptrend, correction lower, BUOB, DBLHC, PB, IB, and back into the main run.

Entering ANY "chart" at the extreme low or high just means you are hoping for price to go to an unknown place, whereas at the same time you get a really big ole stop right in the middle of things in the chart...what is price going to lean against? Where's the confluence? Where's s/r? You're already at the bottom/top of the map, how could you get any of that?
And if there's a BUOB, chances are price already sprinted quite a bit to make that in the first place, it might just get tired (me, I'm getting tired of seeing formations that give a BUOB + counter-PB on 4h by now...happens so often it's not funny anymore..then some work out and some reverse...just icky)

Sure, a strong trend will rescue you a lot of times, but why risk iffy entries if you could have been in a trade a few hundred pips lower down/up?

IMHO entering charts at their peaks or lows is chasing the market - although a lot of people might argue this (and point to books, turtles, stock operators or other random really old people that got published that seem to love the "higher prices are like totally so much cooler for buying, like" theorem) - and I believe that one wants to preferably be in when things BEGIN, not when they just might be about to end..or at least are as unpredictable as it can get.

I believe it breaks down to the old waiting / patience game again(and not wanting to feel "left out", needing to be "in"), and I understand the dilemma/problem involved..

Usually 1 waited for really good entry will usually compensate for more than 5 rushed +-0, possibly good, possibly bad outcome trades...

Just saying.

Right...now where did I put those Vitamin tablets..


Take care all,

SeekingLight

surely that too -

it is so indecisive in the last couple of something,,,weeks/days/months, anyway - nothing to trade really, just a 6/10 PB

just a question here, do you find it someway logical to enter a break of the PB on either side only after a number of pips where this number is the spread+1?

Some people consider only entering on a bar that confirms their direction. IE only entering short on a down bar and long on an upbar, per timeframe, thus entering in the direction of the movement. Picking tops and bottoms are hard, and I mean entering within a few pips of a change of direction. I don't know any people that are consitent at it. As far as a formula like spread + 1, I don't have one. I believe that entering with trend direction and at PZ areas is far more important than anything else, PA included.

i dont know if you misunderstood me - i never meant taking for example the GBPCHF 4h PB formed on the long side of it at the break +spread+1, that for sure aint something i have learned from J16 - and i wouldnt suggest trading so, i was only talking as you mentioned - with the trend.

anyhow - you answered my question as you see it, thanks D

Ok, yeah, I understood you as not enting against a PB. You had asked about entering on the brake of the PB, this would be on a down bar for the GC, thus entering in direction of price movement. Your welcome.

how would you consider an entrance at the break of the TBH - 3 of them actually, which is also a break of the DBLHC, off a TL, all that ofcourse - if it closes like this?

is it confluenced enough?? has no PPZ nor FIB ret. just Tl supporting the uptrend with 2 kinds of PA...

I have a hard time entering in these areas. I personally would wait for some correction and retest of SR.

Wouldn't be nice to get a pb or neutral bar on weekly....?
and then 84... and then 78..

100$ per barrel is simply not justified imho.. Well see in coming weeks..

Dropping like a rock.

Indeed, my demo futures account is full of pips ..

I disagree with you about oil... not about it being justified or anything, but just that now it is getting too close to the $ 100.... it is the big round number... the $ 100 is now going to be like a magnet... I give it to the end of November to get there... if even that long...

hi,
empty your inbox if you want me to answer your pm, or if you want anyone to answer your pms for that matter...Raz

Magnet is, magnet does.

You have a right to disagree....
Happy trading...

Well, I really wasn't trying to be diagreeable ( sorry ) just sayin...

Oil is zipping up there awfully fast these days... !!!