Cool Jarroo!!!
Me also making my Friday pips
Big BEOB (relative to the 5min chart lol) off a higher time PPZ level, 1.4900 RN, with div.
Very nice.
Indicators show the past. Price Action "Indicates" the future.
james16 Chart Thread
- #47,641
- Nov 6, 2009 5:30am Nov 6, 2009 5:30am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Big BEOB (relative to the 5min chart lol) off a higher time PPZ level, 1.4900 RN, with div.
Very nice.
- #47,642
- Nov 6, 2009 5:41am Nov 6, 2009 5:41am
Looking good Ben.
Big BEOB (relative to the 5min chart lol) off a higher time PPZ level, 1.4900 RN, with div.
Very nice.
Here are a couple I have missed. An alerter would may save them from wasting though.
- #47,643
- Nov 6, 2009 5:55am Nov 6, 2009 5:55am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #47,644
- Nov 6, 2009 6:28am Nov 6, 2009 6:28am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
It seems My Q was understood as offense. No way. I really waiting for a logical explanation.
Why not enough "because others seems to do this"? Because You need conviction to be able to keep Your rules. And conviction comes from deep understanding of things. Features (Markets) can change. But if You are looking for "What s going on?"... And rarely have an answer...
THX,
NL
Just trading our beliefs here, that is all anyone can do with trading
Best
Mike
- #47,646
- Nov 6, 2009 7:13am Nov 6, 2009 7:13am
- Joined May 2009 | Status: LIFE ITSELF | 1,058 Posts
Daily I4B trade (actually I6B) on the Aud/Usd with a 4 Hour Double Inside Bar trigger. Dale will like this one.
Many confirmations on this low risk, supportive trade. We have the 0.9100 Daily PPZ level and with the trend. My stop loss was placed right below the 0.9100 once it broke. If it broke to the down side , the s/l would have been placed above the 0.9100.
I'm not very good on touch "blind" trades and I don't have to be. I need confirmations in my trading. And PA provides it nicely.
Jim
haven't see you posting for a long time.
nice trade by the way
as for the touch trade I have to say that we have to thank to rac and james, they are so good at it, I have learned from them but I'm by far to finishing my learnings. I have beginning to trade them from the beginning of this week with overall results ok,but this after spending a lot of time reading through rac post and james and monitoring the market.
wish you the best!
- #47,647
- Nov 6, 2009 7:20am Nov 6, 2009 7:20am
- Joined May 2009 | Status: LIFE ITSELF | 1,058 Posts
Yea, already out with my profit due to the tremendous support below.
Here are a couple I have missed. An alerter would may save them from wasting though.
looks good benji
you are doing an excelent job
I haven't took any trade today was out off the markets!!
you may contact me as well if you will have some succeed by obtaining the indicator!
wish you the best!!
- #47,648
- Nov 6, 2009 7:23am Nov 6, 2009 7:23am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
hey jaroo nice to see you are doing well
haven't see you posting for a long time.
nice trade by the way
as for the touch trade I have to say that we have to thank to rac and james, they are so good at it, I have learned from them but I'm by far to finishing my learnings. I have beginning to trade them from the beginning of this week with overall results ok,but this after spending a lot of time reading through rac post and james and monitoring the market.
wish you the best!
The main benefit you gain from studying posts from Racs, James16, and others that do successful touch trades is the Locations of where they take place. Heavily confluenced areas are where the great trades live.
Indicators show the past. Price Action "Indicates" the future.
- #47,649
- Nov 6, 2009 7:52am Nov 6, 2009 7:52am
Heavily confluenced areas are where the great trades live.
This one is a gem that sits right next to "an A+ price action setup is a high momentum setup too" in my book.
- #47,650
- Nov 6, 2009 7:55am Nov 6, 2009 7:55am
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
...Heavily confluenced areas are where the great trades live.
K.I.S.S.
- #47,651
- Nov 6, 2009 8:01am Nov 6, 2009 8:01am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Good to see you back Jim. I've missed you and your ability to put things so succinctly.
This one is a gem that sits right next to "an A+ price action setup is a high momentum setup too" in my book.
Indicators show the past. Price Action "Indicates" the future.
- #47,653
- Edited 8:18am Nov 6, 2009 8:08am | Edited 8:18am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Ditto. We've missed your wisdom Jarroo. Good to see ya back!
K.I.S.S.
Nicely done on the Euro . . .PPZ level, RN 1.4900, 61.8 Fib and trendline. . . . . . . where have I seen that before . . Oh Yeah . . .4 hour Aud/Usd, no clear PA formation on the Aud/Usd but a great location.
Classics always repeat themselves.
Indicators show the past. Price Action "Indicates" the future.
- #47,654
- Nov 6, 2009 8:26am Nov 6, 2009 8:26am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
I went long due to the inside bar at 1.06 level. I play these a little bit differently than most, as my long entry was actually just above 1.07. It will cost you pips in many cases, but I had too many trades in the past bump into a big round number and retreat back only to be stopped out.
Still in profit, expecting a move to 1.0795 area and will see what happens if it gets there.
Nzd/Usd
Still waiting for a break below .7100 or good price action at .7300, no need to rush things.
Eur/Gbp
This trade is less exciting...
Indicators show the past. Price Action "Indicates" the future.
You may want to hold on to that Cad trade for a few months Nat. You may have caught an early entry on the Monthly PB.
Thanks for pointing that out.........ha ha, for a guy that preaches longer time frames, views the weeklies/monthly charts and loves these moves I am embarassed to say I didn't even know there was a monthly pin -
I shouldn't be so cautious, but earlier this month I took around 450 pips on the Loonie, so I am sure this pair wants revenge (kidding of course)
Nathan
- #47,656
- Nov 6, 2009 8:41am Nov 6, 2009 8:41am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Jim:
Thanks for pointing that out.........ha ha, for a guy that preaches longer time frames, views the weeklies/monthly charts and loves these moves I am embarassed to say I didn't even know there was a monthly pin -
I shouldn't be so cautious, but earlier this month I took around 450 pips on the Loonie, so I am sure this pair wants revenge (kidding of course)
Nathan
Also, its safe to say that every high/low point on a monthly bar is a strong level of either support or resistence. And when they start lining up with other monthly bars (PPZ). . . watch out.
Indicators show the past. Price Action "Indicates" the future.
- #47,657
- Nov 6, 2009 9:02am Nov 6, 2009 9:02am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Daily I4B trade (actually I6B) on the Aud/Usd with a 4 Hour Double Inside Bar trigger. Dale will like this one.
Many confirmations on this low risk, supportive trade. We have the 0.9100 Daily PPZ level and with the trend. My stop loss was placed right below the 0.9100 once it broke. If it broke to the down side , the s/l would have been placed above the 0.9100.
I'm not very good at touch "blind" trades and I don't have to be. I need confirmations in my trading. And PA provides it nicely.
Jim
Now If we can turn that resistence of the Daily PPZ level (0.91750) into support I can move my stop loss just under that level. (2nd half)
Price Action Rules.
Indicators show the past. Price Action "Indicates" the future.
- #47,658
- Nov 6, 2009 10:01am Nov 6, 2009 10:01am
Sometimes it seems like it can be weeks before an A+ setup forms on the daily forex. For anyone who is getting impatient, try taking a look at the futures (I use fxpro). This is Dec 09 Daily Wheat futures. Take a look at this setup..I think it speaks for itself and it was dead obvious at the time.
Long nose, obvious ppz, 50% retrace, with the trend, swing high, big round number 575 and nice space with room to move to BE. The bar also closed below 550 giving even more conviction. Setups like these are also the easiest to manage. It broke right down to the first trouble spot, then right down to support at big round number 500. What more can you ask for??
PS--take a look at the first trouble spot I outlined in blue before I took the trade. It broke through and then retested, and it's now acting as resistance..textbook stuff guys.
Long nose, obvious ppz, 50% retrace, with the trend, swing high, big round number 575 and nice space with room to move to BE. The bar also closed below 550 giving even more conviction. Setups like these are also the easiest to manage. It broke right down to the first trouble spot, then right down to support at big round number 500. What more can you ask for??
PS--take a look at the first trouble spot I outlined in blue before I took the trade. It broke through and then retested, and it's now acting as resistance..textbook stuff guys.
- #47,659
- Nov 6, 2009 11:07am Nov 6, 2009 11:07am
entered on break of pin at 134.25.
stop was placed under pin but then moved up to under left eye of pin once first trouble zone at 134.50 was hit.
took half profit at 134.92
price was not breaking through 135.00 round number aggresively, therfore signalling a lack of momenutum.
moved stop just above break even on second half to 134.35. which is also under a daily/ weekly ppz at 134.50.
NFP data stopped me out but i gave this one a chance.
overall i was happy with my trade management on this one.
have a nice weekend.
stop was placed under pin but then moved up to under left eye of pin once first trouble zone at 134.50 was hit.
took half profit at 134.92
price was not breaking through 135.00 round number aggresively, therfore signalling a lack of momenutum.
moved stop just above break even on second half to 134.35. which is also under a daily/ weekly ppz at 134.50.
NFP data stopped me out but i gave this one a chance.
overall i was happy with my trade management on this one.
have a nice weekend.
- #47,660
- Nov 6, 2009 1:20pm Nov 6, 2009 1:20pm
Interesting where Price retested (many times) even after the News (x). Right at my entry. I love when that happens. Sure, I would rather it run to the moon and never look back. lol I was expecting the retest at .91000.
Now If we can turn that resistence of the Daily PPZ level (0.91750) into support I can move my stop loss just under that level. (2nd half)
Price Action Rules.
