james16 Chart Thread

Quoting Greenhaze

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CounterTrend is trading against the trend G.

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Quoting my30marahaba

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Hi all,

have look this CHF possible going to down line

Rgds,
my30marahaba

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Quoting fjaragon

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Hi guys,

I want to know if this is an Inside Bar and the way to trade it is when the next bar breaks up or down? Am I correct on this?

Another thing, my daily bars start at 8pm EST, so in order to play these setups should I leave pending orders , one in case it breaks to the upside and another if it breaks to the downside? Thanks a lot

Francisco

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Quoting Forex007

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Oleman also said (on Sun, Mar 8, 10:58PM CST): I've always wanted to say something here, but have held back because i didnt want to be the proximate cause of the bankruptcy of the uninitaited. ... So here goes: In intra-day trading, the easiest and fastest money I make is in counter trend trading. Mr. Market takes 2 days to go up 20 handles, then gives you 8 of them back in 15 or 20 minutes, if you know how to catch them. Takes $$ and cajones. I aint gonna discuss the technique, cause it is death if you aint right. Samurai does it all the time, and a lotta folks think he just couldnt be doin that. I havent talked about it for the reasons posted, but it CAN be done, and all the BEST traders do it.

CT can indeed be profitable, but it can also kill you in quickly if you don't know what you are doing.

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Quoting mbqb11

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Hey Jason,

I never go chasing the market(intentionally at least lol). If you miss the trade that you had planned out, that is it...time to move on. I see too many posts "missed my entry, but I still think we have room to run a bit". To me this is totally breaking ones trading plan and where we have to watch ourselves. Many more trades to come. A lot of that behavior comes in these volatile markets. People see huge moves, upset they weren't in on them. Enter at will, get rewarded(which only temporarily rewards your pocket, and more then anything rewards bad behavior), or you get a slap on the wrist(sometimes a real nasty one).

Having a trading plan is very important to me. A lot of people here the old cliche plan your trade, trade your plan. But ignore it, when it is a good cliche to have. It takes all the surprises out of trading(for the most part).

Hope that helps

Mike

countdown to bailout! who would of thought drinking a beer and watching c-span?

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Quoting ghous

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Yes it's a valid IB and yes you trade it on the break of either side, however to be on the safe side it is a good idea to have pending orders atleast 10 pips from the high/low of the IB if you're trading on 4H and above.

Regards,
Ghous.

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Quoting ghous

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yes it may, there is some nice resistance for price around from 1.13 to 1.15. however i am wondering why you went short? there was just abt no PA to indicate this unless you entered with a different criteria then what is discussed here on James site. it is a good idea to anticpate what price may do in future but actions resulting from such anticipation will kill you in the fx markets. you need to act as and when the market gives you clear intenstions, and although we "expect" the swissy to go down it has'nt yet shown us that it will

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Quoting my30marahaba

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dear sir,

you are right sir.... the PA to be go down but not this time
now i have learned one lesson from here .......
I have to re'draw my chf chart for next future movement
thanks for your advise......

best regards,
my30marahaba

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Quoting ghous

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Hi guys,

I am watching this Uj 4H chart and found this nice looking setup.

Most importantly it's not a "raw" but one of those "ripe" ones Mike talks abt pretty often, the "Bo+pullback+PA=entry" kind of setups, i see a nice BEOB (if the 4H closes on a bearish note) on pullback to a trendline breakout.

Regards,
Ghous.

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Quoting mbqb11

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Hey ghous

The trendline you have has already been invalidated with that move back through it. A bit too messy in there for me. Patience :0

This is how I have it on my list

Best

Mike

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Quoting ghous

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Haha! amazing how two traders trading the same concept the same pair and the Tf can look at it in such different ways...

Anyways you're kinda right, but the range on your chart is wide enough to accomodate a trade is it not? i know that you don''t trade while we are witihin a range but that's where we differ... the BEOB looks nice provided it closes in a similiar shape.

ps ps i always wonder whre do you suddenly descend from, after posting my chart up i was wishing i would get an opinion from you but you namely "mbqb11" never appears in the window right down at the bottom of the thread in "curretnly viewing" ppl...is that some kind of a style...lol!


Regards,
Ghous.

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Quoting mbqb11

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Yes there is certainly room to work with, but my opinion(and again just the way I trade), is that you are stretching it a bit with that trendline, more Looking to be in a trade then a solid setup. Again it will come back to styles and how agressive you are. But IMO that is a rather agressive trade, and all that sideways action could really get your hands full.

There is a setting so people can't see what you are viewing and when you are online. I think it would scare people how much I don't sleep so I am hidden )

Not trade advice, just another view point

Mike

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Quoting mbqb11

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Yes there is certainly room to work with, but my opinion(and again just the way I trade), is that you are stretching it a bit with that trendline, more Looking to be in a trade then a solid setup. Again it will come back to styles and how agressive you are. But IMO that is a rather agressive trade, and all that sideways action could really get your hands full.

There is a setting so people can't see what you are viewing and when you are online. I think it would scare people how much I don't sleep so I am hidden )

Not trade advice, just another view point

Mike

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Quoting ghous

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Do you ever sleep? honestly you're like the Alladin's genie. you rub the lamp and the mighty Mike appears from somwhere...

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Quoting mbqb11

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LOL yeah I sleep when there is nothing to trade

That is my motivation to be as picky as possible then I get to sleep!



Mike

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Quoting mbqb11

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There is a setting so people can't see what you are viewing and when you are online. I think it would scare people how much I don't sleep so I am hidden )

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Quoting giraia_br

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this is something you can't beat me

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