The next hour should tell us if 1100 truly is resistance now or is Gold headed back up. Let the battle begin.......
Nasir......keep that wall from tipping North
Nasir......keep that wall from tipping North
james16 Chart Thread
- #56,022
- Feb 24, 2010 9:17am Feb 24, 2010 9:17am
- Joined Apr 2009 | Status: Trader | 2,891 Posts
The next hour should tell us if 1100 truly is resistance now or is Gold headed back up. Let the battle begin.......
Nasir......keep that wall from tipping North
.
- #56,024
- Feb 24, 2010 9:53am Feb 24, 2010 9:53am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
Anyone else still in the USD/CHF daily trade?
Took heat... let's see if it was worth the wait.
Moving stop to just above 1.0850 area.
-- Danny
You have brass balls to have stayed in with the price you entered on...wow. I could never do that.
BTW, there are tons of solid opportunities coming up on the hourlies right now. The positioning on these pairs is unreal at the moment.
I dream, therefore I become.
- #56,026
- Feb 24, 2010 10:02am Feb 24, 2010 10:02am
- Joined Apr 2009 | Status: Trader | 2,891 Posts
The next hour should tell us if 1100 truly is resistance now or is Gold headed back up. Let the battle begin.......
Nasir......keep that wall from tipping North
So 1h closed below 1100 and produced a PIN.
.
Yeah, you're not alone. 50% retracements on daily pins give me a semi.
You have brass balls to have stayed in with the price you entered on...wow. I could never do that.
BTW, there are tons of solid opportunities coming up on the hourlies right now. The positioning on these pairs is unreal at the moment.
BTW mike, love your motivation thread.
Some of that stuff really hit home.-- Danny
- #56,028
- Feb 24, 2010 10:05am Feb 24, 2010 10:05am
- Joined Apr 2009 | Status: Trader | 2,891 Posts
Missed the girl because of the lack of attention lol
.
- #56,030
- Feb 24, 2010 10:15am Feb 24, 2010 10:15am
- Joined Jul 2006 | Status: Trader | 4,090 Posts
Having a plan to stick to regardless of what others are comfortable with doing helps.
BTW mike, love your motivation thread.
-- Danny
And thanks brother. It really rings true for me too. Speaking of, I found a couple videos that rock that I want to put in there. Have a good one Danny and keep those trades rollin.
I dream, therefore I become.
So 1h closed below 1100 and produced a PIN.
.
Nathan
- #56,032
- Feb 24, 2010 11:02am Feb 24, 2010 11:02am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Just my comment
Swing points simply give you points to identify where to look for a potential trade. THey are clearly visible. So when price is trending down making a new swing low, everytime it makes a new low the trend has continued, but also that new low are great areas for cheap buying. Now again it comes down to location/PA or some combo. So if we make a new low(clear swing point) and we get a so-so PA. Well you can expect a so-so result. If we get a LARGE PA bar that has substantial buying, the probability that there is more buying then selling is going up thus, the probability(all things considered) that it will continue has now gone up. Trends both ways perpeutate themselves, you know the whole self-fulfilling thing. Trends are the best and biggest exampels of that(not fibs like the lies have you believe
).
As for overbought and oversold. It again comes down to what is taking place. Just b/c price has been moving down doesn't mean it is oversold. It just means there is heavy selling. Naturally the markets don't run forever and there is a rubber band effect. We have ways to identify where these buonces may occur using location and tools like divergence to give us a "heads-up" the key their is to give us a heads up not say ok bounce time. One of my favorite overbought/sold plays is simple. You have a trending market, it makes a new high/low bounces(people scream reverasl) price then blasts through and makes a new high/low(now we have our divergence) and we get the real buying/selling to kick in. Add in some PPZ, round numbers, your favorite PA bar. The picture gets real clear thanks to mr.james16
Swing points simply give you points to identify where to look for a potential trade. THey are clearly visible. So when price is trending down making a new swing low, everytime it makes a new low the trend has continued, but also that new low are great areas for cheap buying. Now again it comes down to location/PA or some combo. So if we make a new low(clear swing point) and we get a so-so PA. Well you can expect a so-so result. If we get a LARGE PA bar that has substantial buying, the probability that there is more buying then selling is going up thus, the probability(all things considered) that it will continue has now gone up. Trends both ways perpeutate themselves, you know the whole self-fulfilling thing. Trends are the best and biggest exampels of that(not fibs like the lies have you believe
). As for overbought and oversold. It again comes down to what is taking place. Just b/c price has been moving down doesn't mean it is oversold. It just means there is heavy selling. Naturally the markets don't run forever and there is a rubber band effect. We have ways to identify where these buonces may occur using location and tools like divergence to give us a "heads-up" the key their is to give us a heads up not say ok bounce time. One of my favorite overbought/sold plays is simple. You have a trending market, it makes a new high/low bounces(people scream reverasl) price then blasts through and makes a new high/low(now we have our divergence) and we get the real buying/selling to kick in. Add in some PPZ, round numbers, your favorite PA bar. The picture gets real clear thanks to mr.james16
They do, which is why I said 'not a reason to trade', as opposed to meaningless
The reason we take reversal bars at a swing low is because that's what they are, reversals. If price is going up, it doesnt make sense to take a bullish reversal bar - there is nothing to reverse! In this case, the strong PA to mark out this 'line in the sand' just wasnt there, that big rejection of a level and move in the other direction.. hence the reason I didnt see it as a reason for a trade per se.
Hopefully Mike or Jimroo will be able to add to this,...
- #56,033
- Feb 24, 2010 11:19am Feb 24, 2010 11:19am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Just my comment
Swing points simply give you points to identify where to look for a potential trade. THey are clearly visible. So when price is trending down making a new swing low, everytime it makes a new low the trend has continued, but also that new low are great areas for cheap buying. Now again it comes down to location/PA or some combo. So if we make a new low(clear swing point) and we get a so-so PA. Well you can expect a so-so result. If we get a LARGE PA bar that has substantial buying, the probability that there is more buying then...
Indicators show the past. Price Action "Indicates" the future.
- #56,034
- Feb 24, 2010 11:21am Feb 24, 2010 11:21am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
You forgot one other thing Mike, the swing Highs/Lows provides beautiful S-P-A-C-E.
- #56,035
- Feb 24, 2010 11:25am Feb 24, 2010 11:25am
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
Bundy's status today: "Waiting..." 
- #56,036
- Feb 24, 2010 11:29am Feb 24, 2010 11:29am
- Joined Feb 2006 | Status: 'Try-hard' extraordinaire... | 2,151 Posts
eeesh doh!
Not like you to miss that one.
Bundy's status today: "Waiting..."
- #56,038
- Feb 24, 2010 11:44am Feb 24, 2010 11:44am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Hi guys,
I remember Benji and some others were actually curious about how to create other time frames on MT4. Well here's a very simple and reliable way to do that just in case you haven't found out how to. This is how I created mine.
Steps:[list][*]After placing the indicator in MT4, just drag and drop on chart time frame you want to use to create another.[*]Make sure you check "Allow DLL import[*]From the inputs tab, change the multiplier settings only. For instance if you want to create a D2 chart from D1 you leave the multiplier...
I've been closing and re-opening my Plat all this time. Thankyou . .Thank You . . .
. . .Thank You . . wh1zz0Please disregard this dumb post below Danku and others.
You must note that the "offline" charts are just that . .off line. So they are not recieving a data feed, they're just a snapshot of Price in that time frame.
The periodcon of the time frame you converted will refresh itself but you have to close the plateform and then reopen it. This is the only way I know how its done. And some times it doesn't work. I will have to close/reopen many times to get a refreshed conversion.
Anyone know an easier way?
Indicators show the past. Price Action "Indicates" the future.
- #56,039
- Feb 24, 2010 11:50am Feb 24, 2010 11:50am
Holy Freaking sh--, . . . . my 12H Usd/Jpy chart is ticking away now. You mean all I had to do was Allow DLL import. S-O-B.
- #56,040
- Feb 24, 2010 11:52am Feb 24, 2010 11:52am
- Joined May 2009 | Status: LIFE ITSELF | 1,058 Posts
Miss a lot of these....
Two Bar Low on GBPCAD 1hr. Equals break of 4hr BEOB too.
I found a very attractive PB on lower tf, at swing high with divergence(I know is not the best way to spot the divergente along that many bars)
and it took me out
and on my platform my BEOB it has already break out
Just my comment
One of my favorite overbought/sold plays is simple. You have a trending market, it makes a new high/low bounces(people scream reverasl) price then blasts through and makes a new high/low(now we have our divergence) and we get the real buying/selling to kick in. Add in some PPZ, round numbers, your favorite PA bar. The picture gets real clear thanks to mr.james16
to me is a definitely YES, after it took off the last swing high it was a sell off of that area
is this a perfect example?
all the best!
thanks!