Attachments: james16 Chart Thread

james16 Chart Thread

#34,721
Jun 24, 2009 8:17am Jun 24, 2009 8:17am

jarroo
Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts

Quoting StoragePro

Disliked

I wanna have your baby...

Ignored

Ah-Ha . I would have never guessed. I knew it. I was strangely attracted to you by your posts.

Indicators show the past. Price Action "Indicates" the future.

#34,722
Jun 24, 2009 8:23am Jun 24, 2009 8:23am

jumper99
| Joined Nov 2008 | Status: Trader | 17 Posts

hi all,

just wanted to register my presence on this wonderful thread and to thank all the pros for making newbies like me feel welcome. i have been burning the midnight candle to ensure that i go through this enormous thread and will start posting my amateur charts soon....

once again, many thanks to james16 and co for this thread.

cheers!
kenny

#34,723
Jun 24, 2009 8:24am Jun 24, 2009 8:24am

mbqb11
| Commercial User | Joined Aug 2006 | 12,004 Posts

Quoting StoragePro

Disliked

I wanna have your baby...

Ignored

#34,724
Jun 24, 2009 8:25am Jun 24, 2009 8:25am

mbqb11
| Commercial User | Joined Aug 2006 | 12,004 Posts

Quoting jumper99

Disliked

hi all,

just wanted to register my presence on this wonderful thread and to thank all the pros for making newbies like me feel welcome. i have been burning the midnight candle to ensure that i go through this enormous thread and will start posting my amateur charts soon....

once again, many thanks to james16 and co for this thread.

cheers!
kenny

Ignored

Welcome Kenny

It is a very big thread compared to when some of us started! Good luck and ask questions along the way

Mike

#34,725
Jun 24, 2009 8:29am Jun 24, 2009 8:29am

Ryanmcd
Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts

Not going to add anything before the fed.

Keep taking CT trades, I need more money

#34,726
Jun 24, 2009 8:37am Jun 24, 2009 8:37am

moneybags
| Joined Jul 2006 | Status: Pipping Tom | 479 Posts

Quoting jarroo

Disliked

Ah-Ha . I would have never guessed. I knew it. I was strangely attracted to you by your posts.

Ignored

Don't jump the gun Jim. It might be a trap.

#34,727
Jun 24, 2009 8:39am Jun 24, 2009 8:39am

jarroo
Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts

Quoting moneybags

Disliked

Don't jump the gun Jim. It might be a trap.

Ignored

lol It wouldn't be the first time.

Indicators show the past. Price Action "Indicates" the future.

#34,728
Edited 9:08am Jun 24, 2009 9:07am | Edited 9:08am

squeezy
Joined Jan 2009 | Status: Location Trader | 857 Posts

dnt want to post chart now as it might not close as a pin but have a question, the previous bar is a massive bearish bar, if it closes as a pin wld it be advisable to take it
pros- nice shape(if it closes as expected), 1.745 RN ppz, 61.8 fib,rsi divergence,plenty of space to run
cons-just bothered about the previous bar
thnx guys

sorry, its on fxdd feed

Simplicity is the key to success

#34,729
Jun 24, 2009 9:31am Jun 24, 2009 9:31am

Alexandra
| Joined Nov 2007 | Status: Trader | 952 Posts

[quote=pianosax12;2826294]

Quoting Alexandra

Disliked

Indeed! No better purpose!

C'mon...buy some EURUSD with me - you can do it...c'mon![/quote]

Went long off the daily DBLHC, still in drawdown at the moment, beginning to wonder. http://www.forexfactory.com/images/icons/icon8.gif

Ignored

Be careful. An intervention day is not for the feint of heart...maybe wise to be well stopped or stay aside.

The case should be clearer after the carnage is past, and there will be subsequent opporunities, most likely counter intervention is history runs true.
Or, perhaps, hedge things with a pair that is less directly in the fray but likely to benefit, like USDJPY or USDCAD

#34,730
Jun 24, 2009 9:35am Jun 24, 2009 9:35am

mbqb11
| Commercial User | Joined Aug 2006 | 12,004 Posts

Quoting billye

Disliked

dow and E/U drops by ~ 50pips over the past hour...

feel like some panic leaked news???

Ignored

Hey Billye

You will drive yourself nuts both mentally and trading wise if you try to figure out why the market moves. Most of us stick to just reading the chart. It takes so much of the guess work out and trying to overthink the real simplicity of the markets. As James says, he ignores the news like the plague. I am in 110% agreement as I usually am with the big guy

Best
Mike

#34,731
Jun 24, 2009 9:53am Jun 24, 2009 9:53am

ikki
| Joined Oct 2008 | Status: lone wolf | 398 Posts

I don't trade this market. (oil future), was only a practice trade lol
But this is how this material works.
We have a double top in a strong PPZ+Divergence. And show us a pinbar in 30min.
Look where I put my stoploss.

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What does not kill me makes me stronger. Friedrich Nietzsche,

#34,732
Jun 24, 2009 9:57am Jun 24, 2009 9:57am

Naijafx
| Commercial User | Joined Nov 2007 | 1,296 Posts

Quote

Disliked

Hey Billye

You will drive yourself nuts both mentally and trading wise if you try to figure out why the market moves. Most of us stick to just reading the chart. It takes so much of the guess work out and trying to overthink the real simplicity of the markets. As James says, he ignores the news like the plague. I am in 110% agreement as I usually am with the big guy

Best
Mike

vsa trader must not read this. they will smoke u raw

Honestly, i agree that its all in the chart

#34,733
Jun 24, 2009 10:04am Jun 24, 2009 10:04am

mbqb11
| Commercial User | Joined Aug 2006 | 12,004 Posts

Quoting billye

Disliked

thanks mike... what puzzles me is no news in past hour,

but it happened that in 4 markets, E/U, U/Chf, stocks (and oil?) there are correlated big moves... which look werid.
and price action seems to be a sudden response instead of a planned.

how sure how to trade this moves... or exit and wait?

Ignored

Hey B

There doesn't have to be "news" for the markets to move. Their are so many participants that are constantly buying and selling for their own motivations. Our job as technicians is to watch for the footprints they leave and for areas where traders are likely to be watching. We then wait for confirmation via Price action and enter. If you notice the regulars here all have trade/game plans about how they best see fit to enter the market. For me it comes for waiting for key locations and then simply waiting for Price action there. Take a step back, go through the thread, and keep things real simple, it will really take that stress out of it as it has for so many of us

Best of luck
Mike

#34,734
Jun 24, 2009 10:47am Jun 24, 2009 10:47am

raczekfx
| Commercial User | Joined Oct 2005 | 2,899 Posts

Quoting StoragePro

Disliked

I wanna have your baby...

Ignored

Sorry to disappoint... I'm straight!

#34,735
Jun 24, 2009 10:49am Jun 24, 2009 10:49am

StoragePro
Joined Jun 2006 | Status: Vivere! | 1,034 Posts

Mike does not need anyone to tell him he is right - but check out this chart - 4hr GC. I marked a flip at 1.7470 with a bunch of clear touches and rejections. It is an area of interest going back to at least 1995 and strong interest since last November. (That took 30 seconds of analysis - whew, I'm sweatin')

Then yesterday came that beauty of a PB formed by two 4 hr bars. Right on the PPZ, right on the 150 (First time back too). I had no idea anything was going to happen, but the technicals are what they are.

There are people who will tell you you have to understand fundamentals and pay attention to the news. The institutions that drive this market have access to the same information that the US Fed or, in this case, the Swiss institutions have. The people that work there cross pollinate all the time and job back and forth.

The short of it is that the people 'in the know' were getting into position for a run. The charts do not lie.

The market knows. It shows its knickers to us all the time. We only have to look when the skirt comes up.

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