james16 Chart Thread

Quoting bundyraider

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That pair you chose doesn't have super clear levels like some others do at times, so don't stress that you're seeing so many messy ones in it. The best examples of PPZs are by Raczekfx ...someone compiled all his posts somewhere last year in here. Go through them and check them out. You may even pick up on other tricks he uses to choose great levels (Such as bar lows on the monthly chart etc)
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Quoting Nustra

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Trigger, thanks for the response,
where do you put your SL and how do you recognise the false move in the opposite direction?
what i have noticed is that if i put the SL at the high of the "tallest" bar, mosttimes price move to hit it and then go my direction (boy i hate it when that happens)


thanks again, i appreciate.

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Quoting Nustra

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during demo trading, sometimes i don't put SL, just monitor the trade, but since i have a day job, that might be a bit of a stretch..

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Quoting triger88990

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you can recognise a false break, when price move above(which is our case on fiber) that congestion area and retrace back in and close below the higher boundary that define the congestion area.

After retrace she give us a PB(not a A+) but enough for me to pull the trigger because of other supported confluence,and your SL can be just above that PB,and if you look back you would see that after the break price never look back.

don't forget you must wait for that false break to occur first befor she goes in the "right" direction....

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Quoting chatzi

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The EA I use is great (Multi purpose trade manager) if you can be at the charts all day, it does the following things automatically.

Set to breakeven on n pips.
Jump stop (stop jumps every n pips in profit).
Trailing stop.
Missing stop loss - this set your stop loss for n pips if you dont set one on entering.
Missing take profit - as above.

It can manage a all pairs or you can set it to manage just the chart it is on.

mark

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Quoting Cherry

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Couldn't resist...

I understand.. you're all sparked out

Still friends?

Have a look at the new chart, seems like most of the points that form the PPZ's are the big rubber band moves. This is part of what I used in previous method but I think Jim mentioned it.

Agree?

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Quoting lovejoy80

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Haven't got a chart to hand...but EUR/GBP is currently at 0.8840 level which is a clear PPZ area on the daily...watching to see if we get any PA on the 4H / 1H time frame or if we get a breakout higher and pull back

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Quoting triger88990

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Thanks for that!

I know that are several here who use this kind of EA to manage their position,but I like to monitoring all the way a setup, this is very helpful for me bc is giving me the opportunity to see how price behave in certain areas, how bars are giving shapes.......and I think that I like look at charts

At the end it all comes from your personality

all the best!

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Quoting nasir.khan

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You got your chart (3 of em) in less then a minute.

Ohhhhh if you had wish for a ______ you would've got it.

be careful next time.
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Quoting triger88990

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Chart EurUsd

This move is result from a clasical 123 pattern break out.

This PB have come in shape after a rejection off of:

-a TL drawn using bar highs
-61.8 fib ret using recent swing high/low
-100% FE

We have setup with the main trend which is down.

The only problem would be those bar highs which we are trading in

PS. thanks bundy for your post,I had some A-HA moments, after going through your post this week, about 123 and FE. But I have just a question do you use it only for targets or you trade off of it.thanks...

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Quoting nasir.khan

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Ohh yea he is.

Here are the thread summaries thanks to Cyrus and i think this should be in post one.

Summaries from seniors from page 3000-3500.

James16, Mike and Raczekfx from page 1 to 2500.

[url="http://www.forexfactory.com/attachment.php?attachmentid=326628&d=Oct%201,%202009%2012:40pm"]Summaries...

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Quoting bundyraider

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OK ...but you're on probation.


Of course. Though, it's great when those Big rubber band moves happen at the same level consistently, THAT's what you really want. Many big bounces off the same level over the years.

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Quoting bundyraider

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Spot on.

A top notch trade would have very little resistance/support in the way of getting into a decent profit.


Keep asking away if I'm confusing you still.

That pair you chose doesn't have super clear levels like some others do at times, so don't stress that you're seeing so many messy ones in it. The best examples of PPZs are by Raczekfx ...someone compiled all his posts somewhere last year in here.

Keep in mind that some currency pairs have unclear levels and you'll blow a fuse trying to pick them out. Best to move on...

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Quoting nasir.khan

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I don't know if it's a No Brainer but i it's a Brain Crusher for me.

You did not even waited for the break but If i would have played it i would enter at 605 after it had crossed through the Bar high's.
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Anyways just my views.
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Quoting benji533

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I spiked as well Nasir. Not to my liking.
But even B trades...managed with the James16's principals would avoid you from losing money almost every time.

You should be safe by now trig. If that bars closes below support, it's likely to act as resistance and you would be rewarded.

Anyway, also a full take profit on that level would worth a good bunch of money on a big enough account

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