I see guys trading here...Me still waiting for a first valid trade in 2010. Can one become to picky?
...sweet. Just had to wait a little, haha
normally for now i try to avoid trades under 4h charts but this one was to tempting 
james16 Chart Thread
- #51,442
- Jan 13, 2010 8:53am Jan 13, 2010 8:53am
(depending on your learning curve &/or profit goal)
Careful here, ninreznor..
an inside bar can move in either direction. this IB may be a temporary pause or reversal.
btw, are u comfortable trading the 'regular' PA setups (PB, BEOB, etc) & 4H & up charts already? if not, it is advisable to do so prior trading H1 & below charts & other PA setups like IB's.
Just a small reminder
There is the notion here (I stand to be corrected) that inside bars are more complicated to play than pinbars and outside bars. IMHO just as we have A+, A, B+ e.t.c PB and OB thesame can also be said about IB. Below is what 1 should look out for to spot an A+ IB as described by Peter Bain in his book 'Reading Bars'
1. IB shud be preceeded by a sharp up or down price move
2. trading range of the 1st bar shud be wide by previous standards
3.the trading range of the second bar shud be much SMALLER compared to the first. ( the sharper the contrast the better)
If U stick to these rules (from by backtesting experience) in selecting IB they are equally as powerful as the other bars.(dont take my word for it just do some backtesting).
here is 1 i am currently watching and another which occured last week.
- #51,443
- Edited 9:26am Jan 13, 2010 9:11am | Edited 9:26am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
didymario,
Thanks for sharing.
for those interested to read about IB's, check out jarroo's thread here.
let me reiterate, IB trading is not ideal for newer traders. focus on the basic PA setups first (pinbar, outside bar, mainly)
jarroo, we are waiting for u
Thanks for sharing.
for those interested to read about IB's, check out jarroo's thread here.
let me reiterate, IB trading is not ideal for newer traders. focus on the basic PA setups first (pinbar, outside bar, mainly)
jarroo, we are waiting for u
I took the time to draw all my round numbers manually....
it would be good that i do this too since i dont pay enough attention to the round numbers and drawing all that lines would be a very good reminder for me that they are there and that they are important to tell you the truth i didnt even see those dot lines around round numbers on your charts since now and i was so curious that i had to check your screenshots 
again good work man
im really learning a lot on this thread from you guys 
- #51,448
- Jan 13, 2010 9:57am Jan 13, 2010 9:57am
didymario,
Thanks for sharing.
for those interested to read about IB's, check out jarroo's thread here.
let me reiterate, IB trading is not ideal for newer traders. focus on the basic PA setups first (pinbar, outside bar, mainly)
jarroo, we are waiting for u
Hunri
- #51,450
- Jan 13, 2010 10:12am Jan 13, 2010 10:12am
Dan,
I know that you hunt trades around .00 round number but did you notice that .50 round number combined with major weekly and daily's PPZ and Fibs/Trend Line is where you can also find a high % of winning trades ?
Thanks
Cheers
Angel
PPZ at Round Number (.00 & .50) are the best
- #51,453
- Jan 13, 2010 10:42am Jan 13, 2010 10:42am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
Giving Rac your money would have been a much wiser decision... ...
I'll take it from the market instead...
- #51,455
- Jan 13, 2010 11:20am Jan 13, 2010 11:20am
- | Commercial User | Joined Oct 2005 | 2,899 Posts
loving it and loving it....
how much more? 200, 300, 600 pts?
or maybe just ....
.
how much more? 200, 300, 600 pts?
or maybe just ....
.
- #51,456
- Jan 13, 2010 11:20am Jan 13, 2010 11:20am
- Joined Jan 2008 | Status: In Fibonacci We Trust | 2,397 Posts
For the touch and confluence lovers.........
I think it will go to the triple confluence of 1.66000 before coming down, down, down.....
Attachment
K.I.S.S.
- #51,459
- Jan 13, 2010 12:02pm Jan 13, 2010 12:02pm
just saw this huuuuge pin on gold... i know that is kinda pinbar in traffic but it has a support area on 1119.00
(note that the 4h chart ends in 5 minutes)
maybe i should have bought when i saw the pinbar on the 5min chart when i could afford the SL, because on the 4h chart the SL would be just too much for my tiny account
(note that the 4h chart ends in 5 minutes)
maybe i should have bought when i saw the pinbar on the 5min chart when i could afford the SL, because on the 4h chart the SL would be just too much for my tiny account
Here is my chart. There is a longer term trendline at play as well with third touch. So waht do we have? Round #/PPZ, 150 ema, third touch of two trendlines am I missing anything? O yeah, let's have some PA as well.
K.I.S.S.