DislikedOk great thanks, so how much above or below the last bar should it go before we enter ?Ignored
K.I.S.S.
james16 Chart Thread
- #28,201
- Apr 27, 2009 5:50am Apr 27, 2009 5:50am
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
dbau,
our humble buddy bundy's opinion is as good as gold, I believe.
the chart u attached seems similar to many, but it i won't go far as saying that it is similar with the majority. It would be impossible to use the word majority as we don't have a survey/statistics of traders in this forum & of the brokers that each uses.
It's not weird to want to look& have the similar-looking charts. It's actually common, it's going with the herd or herd mentality. Fortunately for you, this thread's traders is...
Yes, I agree with you 110%. Curiosity must be balanced with self-reliance and independence if one is to grow as a person. While I like to learn from others, I still consider myself independent and responsible for my decisions at the end of the day. In a game like forex, there is absolutely no point going with the herd (where 95%+ are losers) - I learnt this lesson a long time ago!
Having said that, I'm extremely grateful I discovered james16's method and this site. It provides an outlet for like-minded people to support each other and objectively thrash out various ideas. It's probably been said before, but my light-bulb moment only occurred once I stumbled upon this method. Prior to that, I was trading for all the wrong reasons, and blowing accounts like there's no tomorrow as a result.
Thanks for the well wishes, will continue to be active within this thread!
- #28,204
- Apr 27, 2009 6:46am Apr 27, 2009 6:46am
- | Joined Jan 2009 | Status: Trader | 1,036 Posts
Hi Guys
Week 2 of my 3 months begins today. Have scanned charts and don't see any A+ setups at the moment. Just wondered if anyone has spotted anything interesting happening on the dailiesweeklies. I am happy to do my own analysis but always good to have the eagle eye of an experienced trader if I have missed something!
berti
I didn't find anything last night when I went through all my daily/weekly. I wrote down NZD/USD and EUR/JPY weekly pins to WATCH but not trade. I am also watching the EUR/CAD PA... it has had 2 pinbar looking bars in the last 4. lots of congestion though. Just watching.
Also watching AUD/JPY as a breakout trade, but who knows how that will pan out... probably won't trade anything in that for at least a few days yet.
A good day to watch some J16 movies
Josh
- #28,205
- Apr 27, 2009 7:08am Apr 27, 2009 7:08am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
dbau,
u are, like most traders here, are on the same journey/right path. we are only on different pit stops/control points.
Just do it & NEVER quit NO MATTER WHAT. We only fail IF we quit; otherwise success is INEVITABLE
Billy73,
Most traders here are very generous, courteous, understanding, apart from other good traits. actually, we have a silently spreading "good traits virus" in this thread.
U are not stupid by asking those questions. rather, I believe u ARE stupid IF u don't ask questions & pretend to know something/everything
u are, like most traders here, are on the same journey/right path. we are only on different pit stops/control points.
Just do it & NEVER quit NO MATTER WHAT. We only fail IF we quit; otherwise success is INEVITABLE
Billy73,
Most traders here are very generous, courteous, understanding, apart from other good traits. actually, we have a silently spreading "good traits virus" in this thread.
U are not stupid by asking those questions. rather, I believe u ARE stupid IF u don't ask questions & pretend to know something/everything
your patience which must wear a bit thin at times with ppl like me asking stupid questions instead of reading the whole thread, my only excuse is time constraints !
- #28,208
- Apr 27, 2009 7:38am Apr 27, 2009 7:38am
Morning Berti,
I didn't find anything last night when I went through all my daily/weekly. I wrote down NZD/USD and EUR/JPY weekly pins to WATCH but not trade. I am also watching the EUR/CAD PA... it has had 2 pinbar looking bars in the last 4. lots of congestion though. Just watching.
Also watching AUD/JPY as a breakout trade, but who knows how that will pan out... probably won't trade anything in that for at least a few days yet.
A good day to watch some J16 movies
Josh
Also keeping an eye on those weekly pins but nothing really stands out as a high prob trade. Just waiting for some really good setups to develop. I also watch some index futures but nothing happening there either, so its just a case of waiting at the moment. Good for the patience and the discipline.
berti
PA is where its at!!
- #28,210
- Apr 27, 2009 7:49am Apr 27, 2009 7:49am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Billy73, Clode,
contagious. That's the word.
I was thinking about that exact word, it was just at the tip of my tongue.
Thanks for that Clode.
In fairness to other FF threads, there are many similar great threads with great, committed traders. only, there could be a greater concentration of great people in this thread. I'd bet even the lurker-readers of james16 thread are benefiting too from this "good traits virus" that i've mentioned.
Let's not be isolated; let's spread this mighty virus throughout FF (i believe it HAS already begun).
contagious. That's the word.
I was thinking about that exact word, it was just at the tip of my tongue.
Thanks for that Clode.
In fairness to other FF threads, there are many similar great threads with great, committed traders. only, there could be a greater concentration of great people in this thread. I'd bet even the lurker-readers of james16 thread are benefiting too from this "good traits virus" that i've mentioned.
Let's not be isolated; let's spread this mighty virus throughout FF (i believe it HAS already begun).
- #28,213
- Apr 27, 2009 8:11am Apr 27, 2009 8:11am
What about this 15 min pinbar?
What is interesting is Dollar index m15 which is pinbar also but along with nice double Top. So taking the eu is good idea, Dollar index imho better.
Just my thoughts
- #28,217
- Apr 27, 2009 8:25am Apr 27, 2009 8:25am
- | Joined Jan 2009 | Status: Trader | 1,067 Posts
What about this 15 min pinbar?
- #28,219
- Apr 27, 2009 8:29am Apr 27, 2009 8:29am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
gododdin,
looking exclusively at your 2 charts, here are my observations:
--the daily PB u mentioned is fairly small compared to the previous 2+ bars. This could be a false breakout, or this can drop further as trend seems bearish.
-- like u said "open is not within the range of the previous bar (though the close might be)."
--what u can do is a. wait for price to get back to the wedge, around 1.5150-1.52, look for PA in H4 (for a better entry/tighter stop) in that price area & sell; b. let PB break down further (instead of going up, price falls further after the PB), price retest the range &/or descending triangle/wedge breakout area with a nice PA
eyeballing your charts, possible traffic/problem areas are:
resistance: 1.5150-1.52, 1.5230-1.53; 1.54; 1.55; 1.5750
support: 1.46; 1.4680-ish; 1.48; 1.49-1.50 (as demonstrated in numerous occasions in your chart: Oct, late Oct?, late Dec, Mid-Jan., Feb.10area); Keep in mind, too, the possible SNB re-intervention
btw, u "probably missed loads" of trades, but certainly u earned more patience & there are "loads" of trades down the road!
looking exclusively at your 2 charts, here are my observations:
--the daily PB u mentioned is fairly small compared to the previous 2+ bars. This could be a false breakout, or this can drop further as trend seems bearish.
-- like u said "open is not within the range of the previous bar (though the close might be)."
--what u can do is a. wait for price to get back to the wedge, around 1.5150-1.52, look for PA in H4 (for a better entry/tighter stop) in that price area & sell; b. let PB break down further (instead of going up, price falls further after the PB), price retest the range &/or descending triangle/wedge breakout area with a nice PA
eyeballing your charts, possible traffic/problem areas are:
resistance: 1.5150-1.52, 1.5230-1.53; 1.54; 1.55; 1.5750
support: 1.46; 1.4680-ish; 1.48; 1.49-1.50 (as demonstrated in numerous occasions in your chart: Oct, late Oct?, late Dec, Mid-Jan., Feb.10area); Keep in mind, too, the possible SNB re-intervention
btw, u "probably missed loads" of trades, but certainly u earned more patience & there are "loads" of trades down the road!