james16 Chart Thread | Page 711 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #14,201
  • Oct 6, 2008 9:44am Oct 6, 2008 9:44am
Quoting bundyraider
When they're significant.

I'll be the first one to post an example if we get a good reversal sign. ...Not expecting one any time soon.

In the mean time , personally, I have no problem just running with the trend, as Ryan keeps pointing out. Pride ain't stoppin' me from makin money.

Everyone is going safe with their money. Don't expect any major reversals here.

"He who picks bottom gets smelly finger" as Phil McGrew mentioned a while back.

Good post and yes I will run trend trades until this lets up, on -500 on the dow you HAVE to be getting short the EUR/USD and oil. Now when we go back to +50 - 50 down days or as I call it "SLOP" then I will CT a lot more due to not having a trend.


P.S. go with da flow
Keep taking CT trades, I need more money
  • #14,202
  • Oct 6, 2008 9:45am Oct 6, 2008 9:45am
Quoting benssol
UNTIL NOW I'm up 50% in my account

those days didnt come every week, and only a fool who miss them

I can live for one years with today's profit
Nice job, you got any charts or what you are doing? Just want to see others take on it.
Keep taking CT trades, I need more money
  • #14,203
  • Oct 6, 2008 9:52am Oct 6, 2008 9:52am
Quoting Ryanmcd
Nice job, you got any charts or what you are doing? Just want to see others take on it.
sure, here are some charts
nothing new, range breakout in the way of the daily trend

nothing new man
Attached Image(s) (click to enlarge)
Click to Enlarge Name: acad.gif Size: 15 KB
Click to Enlarge Name: au.gif Size: 15 KB
Click to Enlarge Name: eaud.gif Size: 16 KB
  • #14,204
  • Oct 6, 2008 9:57am Oct 6, 2008 9:57am
Quoting benssol
sure, here are some charts
nothing new, range breakout in the way of the daily trend

nothing new man

Good stuff, I did the bill williams stuff with fractals about the same as this. It's funny because I think once you can trade you really can trade any system, 5min weekly tick, CT, Trend, whatever. I have done it all now and made money doing it all.
Keep taking CT trades, I need more money
  • #14,205
  • Oct 6, 2008 9:58am Oct 6, 2008 9:58am
Quoting Ryanmcd
Good post and yes I will run trend trades until this lets up, on -500 on the dow you HAVE to be getting short the EUR/USD and oil. Now when we go back to +50 - 50 down days or as I call it "SLOP" then I will CT a lot more due to not having a trend.


P.S. go with da flow
After reading that, you reminded me. I just checked the "over nights" on the local index here. ...wow. It's taking another big chunk.
Bundy's status today: "Waiting..."
  • #14,206
  • Oct 6, 2008 10:21am Oct 6, 2008 10:21am
I've got a question Ryan. I know you don't trade U/J 5 minute but would you take a trade like this if it looked the same for E/U (bearish overbar near middle BB)? I know it's not the prettiest one because there's a HH/HL first. Still trying to get a feel for the way you trade.
Attached Image (click to enlarge)
Click to Enlarge Name: uj 5m.gif Size: 31 KB
  • #14,207
  • Oct 6, 2008 10:25am Oct 6, 2008 10:25am
Quoting Ryanmcd
The market is not the norm right now. I watch the 5min charts about 6-8 hours a day and I got 2 quick trades in last week for +4% but most of the time I get 8-10 trades, so far 0 trades today, all huge bars and huge risk.
I agree, Ryan - patience is everything. Plus staying with the trend. I jumped on 2 CT set-ups which looked like "sure reversals". Made 1% on one, lost 2% on the other. Whilst doing that, I missed a 150 pip trade which I could have entered into with a 15-pip SL. I don't have any explanation why many people are obsessed with CT, overlooking easy gold pots under their noses. Will have to "have a word" with myself about that
One Chart is Worth Ten Thousand Words.
  • #14,208
  • Oct 6, 2008 10:29am Oct 6, 2008 10:29am
Quoting benssol
sure, here are some charts
nothing new, range breakout in the way of the daily trend

nothing new man
Benssol, how do you determine the direction of the trade?
One Chart is Worth Ten Thousand Words.
  • #14,209
  • Oct 6, 2008 10:39am Oct 6, 2008 10:39am
Quoting Betard
I've got a question Ryan. I know you don't trade U/J 5 minute but would you take a trade like this if it looked the same for E/U (bearish overbar near middle BB)? I know it's not the prettiest one because there's a HH/HL first. Still trying to get a feel for the way you trade.

Yep I like the 2 bar high trades a lot as well as the bearish bar is larger then the bar before it.
Keep taking CT trades, I need more money
  • #14,210
  • Oct 6, 2008 10:55am Oct 6, 2008 10:55am
Quoting raczekfx
another trade...
closing half of this trade at 175.90 (around weekly ppz). No, it wasn't based on 5min....
golf time again...
p.s. Looking to close the rest around 165/168, or get stopped out. who cares now...

R.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 11 KB
  • #14,211
  • Oct 6, 2008 11:09am Oct 6, 2008 11:09am
Quoting Forex007
Benssol, how do you determine the direction of the trade?
search the forum for 123, Ledge and RH patterns and read Joe Ross books and articles and dont ever go against the trend, that's it
  • #14,212
  • Oct 6, 2008 11:17am Oct 6, 2008 11:17am
My favorite and The most profitable setup is approaching.....(and final TA at the same time if you're cable short)
There is plenty of time if you know what you're doing, use proper MM and spend most of your time either soaring or on the golf course....(away from your comp). Right SL....?
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 14 KB
  • #14,213
  • Oct 6, 2008 11:50am Oct 6, 2008 11:50am
There was a nice confluence s/r & trendline @GBPJPY on weekly today but price broke thru without any reaction. I would be very carefull playing pure touches right now even on this nice gbp/usd setup. Momentum is crazy right now, i am waiting for good pa setup near this zone.
  • #14,214
  • Edited 4:46pm Oct 6, 2008 4:32pm | Edited 4:46pm
Quoting bundyraider
When they're significant.

I'll be the first one to post an example if we get a good reversal sign. ...Not expecting one any time soon.

In the mean time , personally, I have no problem just running with the trend, as Ryan keeps pointing out. Pride ain't stoppin' me from makin money.

Everyone is going safe with their money. Don't expect any major reversals here.

"He who picks bottom gets smelly finger" as Phil McGrew mentioned a while back.
Bundy, thanks for the help with trend lines.

I have been trading/studying markets for 8 yrs. Only been studying forex for 3 months or so and wanted to ask you forex vets a few questions if I may.
1) these markets seem unusually directional right now? I mean I will talk myself out of a good trade only to watch it take off. In spite of that I made 5 times my monthly goal since last night. second question
2) do you guys set goals? I know ryan sets a 2% per day goal.
3) When you reach your goal to you stop? When I used to play poker full time I found when you had grove was when to press it. It was also the time to be most cautions because you can over do it and make your biggest mistakes then.

Thanks for your thoughts fellas

Regards,
Jason
May the fish in your stream of life always bite.
  • #14,215
  • Oct 6, 2008 4:59pm Oct 6, 2008 4:59pm
Quoting Ryanmcd

Do this test.

Take a rock, have someone throw it at you do you move? I bet you do because the TREND is not going to change for no reason, what you are doing right now is getting hit in the head everytime by the rock.
lol I have heard many "Trend" analogies over the years but that is a first,
Thanks for the laugh man.

Jarroo don't feel bad man, that 4hr ib on gj shoulda put you deep into the black
May the fish in your stream of life always bite.
  • #14,216
  • Oct 6, 2008 5:22pm Oct 6, 2008 5:22pm
Quoting Ryanmcd
Do this test.

Take a rock, have someone throw it at you do you move? I bet you do because the TREND is not going to change for no reason, what you are doing right now is getting hit in the head everytime by the rock.
exactly ... pay attention to ryan ...

i think about trend reversals sometimes like trying to turn the Queen Mary ... the market may have turned the wheel, but that doesn't mean you are instantly going in the opposite direction.
"Believe nothing you hear and half of what you see." Proverb
  • #14,217
  • Oct 6, 2008 7:23pm Oct 6, 2008 7:23pm
So how are you guys playing these huge bars? Are you going to play the breaks of the inevitable inside bars that form?
Hindsight is 20/20
  • #14,218
  • Oct 6, 2008 7:40pm Oct 6, 2008 7:40pm
Quoting cosgrove
So how are you guys playing these huge bars? Are you going to play the breaks of the inevitable inside bars that form?
that is the big question, are any reversal indications to be considered??

honestly speaking we're perhaps panicking too much! this kinda happens. when we are out here gossiping we do tend to get carried away... lol!

what i mean is look at the Eu drop you'll notice how it's easily the most signficant move down, with the bears all over the bulls should a pin bar or should an IB be enough to turn the trend? i am not saying that it "must" all i wanna say is let's just see it through the divergences still hold for quite a few more pips, hope for turnarounds is'nt totally lost guys! Just hang on, stay out of these tough volatile times, i don't even want to consider Tcs (trend continuation) at the momkent again because of the uncertainity, the divergences in most pairs on the higher tfs specially is what is keeping things intersting as well as uncertain.

i am long on Eu myself...lol! during tough times like these i took a trade without a major PA indication and against the strong downtrend...duh! i still have some hope left though, these 24 hours should decide...

Regards,
Ghous.
I believe . . .
  • #14,219
  • Edited 8:41pm Oct 6, 2008 7:54pm | Edited 8:41pm
Quoting ghous
Hi guys,

some interesting charts i found over my weekend analysis...

Regards,
Ghous.
http://www.forexfactory.com/attachme...1&d=1223105517
http://www.forexfactory.com/attachme...1&d=1223105517
http://www.forexfactory.com/attachme...1&d=1223105531
Divergence shouldn't be taken as the trading signal....mere a warning ones...
I hope u r not in EU long...yesterday...

Sonic
  • #14,220
  • Oct 6, 2008 8:52pm Oct 6, 2008 8:52pm
Quoting aSandman
Bundy, thanks for the help with trend lines.

I have been trading/studying markets for 8 yrs. Only been studying forex for 3 months or so and wanted to ask you forex vets a few questions if I may.
1) these markets seem unusually directional right now? I mean I will talk myself out of a good trade only to watch it take off. In spite of that I made 5 times my monthly goal since last night. second question
2) do you guys set goals? I know ryan sets a 2% per day goal.
3) When you reach your goal to you stop? When I used to play poker full time I found when you had grove was when to press it. It was also the time to be most cautions because you can over do it and make your biggest mistakes then.

Thanks for your thoughts fellas

Regards,
Jason

Poker is a lot like the market to be honest, I am lucky I have the brother pro poker player to thank I just went a different direction. If you want you can ring the register when it's hot, I used to over and over on the S&P my goal was 3-5 a day but sometimes I did 10-15, what I do now is stop after 2-3 losses so I don't go tilt.

In markets like this when I don't have a edge I may take 1 trade a day, spreads sucks + news driven + biggest moves in history = play VERY safe. This maybe the only time in the next 20 years like this so I can wait a month or 3, no need to force a trade. I will say once we get back to "normal" days I will be hitting 4-6% again per day to make up for this just because I can lol Also I may even CT a little when the market is flat haha
Keep taking CT trades, I need more money
34 traders viewing now