james16 Chart Thread
- #40,708
- Aug 12, 2009 3:36am Aug 12, 2009 3:36am
silly junior status means my posts take ages to get posted.
however back on page 2708 i mentioned about posting stock charts and how with a stock screener (i use saxo bank) you can scan for pins and outside bars on hundreds of stocks worldwide.
funny how i woke up this morning and found everyone talking about potentially posting stock charts!
however back on page 2708 i mentioned about posting stock charts and how with a stock screener (i use saxo bank) you can scan for pins and outside bars on hundreds of stocks worldwide.
funny how i woke up this morning and found everyone talking about potentially posting stock charts!
- #40,712
- Aug 12, 2009 4:27am Aug 12, 2009 4:27am
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
Hello every one what do you think about these ones.
Gorgeous pins. "Real Man" pins as the big fella likes to call them now. lol
A pity they will have to be managed carefully. (The reasons you've marked on your charts. ...yellow lines.) They look awesome otherwise. Awesome enough to probably push past those trouble spots.
Every now and then I see some beauties like these, but location or previous price action leading into them shouts "Be Careful!!". It's ones like this a lot of people take and it's hard to argue against them, but at the same time I'll be here going "DAMN, such a strong trend down" or whatever. ....Going through all of these formations right now trying to find something with good room to move, for myself. (Edit: Should be looking, not posting. lol)
Bundy's status today: "Waiting..."
- #40,716
- Aug 12, 2009 5:13am Aug 12, 2009 5:13am
And i am long now but we both could be profitable.
Well spotted.
if we can break 136, there is a minor battle between 136.50-137.00...and after that, I'd be looking for this one to go to 138.00 - 138.25. And then come back down, prolly.
When you have to shoot, shoot. Dont talk.
- #40,717
- Aug 12, 2009 5:16am Aug 12, 2009 5:16am
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
Agree but are also coming from a strong background one bounced of 38.2% and other went past down 38.2% but closed back up at it. GJ also did not managed a break of the orange box.
Btw they also nicely jumped of 89 SMA. (Sorry if my indies are disturbing the PA guys)
...It's the very steep decline leading up to it that has me not jumping in the bath before testing the water. Call me too picky , but steep declines like that , I personally like to see even longer, stronger pins etc.even than these! ...Or, preferably, waiting to enter on a 1-2-3 type secondary set up later on. Too steep. Too much chance of this being a "breather" rather than a reversal. And for a breather , your yellow lined areas are what makes it harder to get a good break ...and then on top of that, some room to cover yourself. ...This is just me.
Like I said in my post , it's pins like these that are hard to argue against when someone new asks your opinion on (not saying your new, btw). They look exactly like we try to teach. They tend to look awesome, they are off great confluence or whatever, but I know from watching a lot of charts and playing a lot of pins now, I look at these and think "Not quiiiiite a No Brainer. ...At the very least wait for a good hard break" (not just a puny 3 pips plus spread break etc).
Now for the record:-
I am VERY picky when is comes to the look of reversal PA. If I'm not at ease for any reason I walk away. Too many opportunities in the years to come to bother with trades that I am not "feeling it" on.
And on your indicators....
Indicators don't bother anyone. ...Except when someone has them colouring in the whole screen.
And you don't. So all is good. Keep them up. 
We use MACD, RSI etc for divergence here still anyway. lol
Bundy's status today: "Waiting..."
- #40,719
- Aug 12, 2009 5:28am Aug 12, 2009 5:28am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Hi Nasir,
Gorgeous pins. "Real Man" pins as the big fella likes to call them now. lol
A pity they will have to be managed carefully. (The reasons you've marked on your charts. ...yellow lines.) They look awesome otherwise. Awesome enough to probably push past those trouble spots.
Every now and then I see some beauties like these, but location or previous price action leading into them shouts "Be Careful!!". It's ones like this a lot of people take and it's hard to argue against them, but at the same time I'll be here going "DAMN,...
Eur/Jpy was a no brainer. Ditto with the Yen. You can redeem yourself on the Gbp/Jpy.
Indicators show the past. Price Action "Indicates" the future.
- #40,720
- Aug 12, 2009 5:34am Aug 12, 2009 5:34am
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
Bundy's status today: "Waiting..."