james16 Chart Thread
Hi all,
This is my first chart posted, so pls kindly forgive me for the poor chart labelling and analysis.
Here it goes:
NZDUSD - H4 chart
PA concerned: DBLHC (as indicated by the arrow, hope I didn't get it wrong)
Supports:
- DBLHC at a swing low
- DBLHC at previous low (lowest blue rectangle to the left), forming a double bottom
- MACD divergence
Worries:
- the 1st bar of the DBLHC has a small body, I sense the 2nd bar engulfing won't be that significant, is it?
- the 2nd bar of the DBLHC...
Hi all,
I've been leeching from this thread for the past 5 months and decided to post my first reply as JAmes' casual remark on the "invisibles" 2 days back got through to me
Had some previous experience trading stocks, options, futures for the past 3 yrs and never got anywhere except 2 blown accounts under my belt. Started on forex about 5 months back under influence from a close friend and the best thing that happened to me after that was stumbling upon this thread before i blew the third account trading inside bars on 15 mins charts
Just...
it's a very short thread. Sir topherhk88 only has 18 posts.
Welcome Miracle
Glad to have you come out from the shadows - do post more
Crazy when we look back on some of the stuff we did trying to figure all this out huh
Mike
Hi all,
...trading inside bars on 15 mins charts...
Hi M16,
Would that the 'other' J over at Babypips by any chance?
Been there, done that.
Stick around, THIS James is the real deal.
Steve.
Hey S
Yeah overall this is a real iffy trade. I would sum it up as really small bar in a so-so location. Size of the bar, and just not a ton of confluence make it an easy pass. But you are spotting good trouble areas and understanding what price is likely to do. If you bring that knowledge and get real picky with your bars you are way ahead of the game. So yes when you have a list of worries that long you know what to do
Mike
Pretty quiet.
Sleep day for Mikey.
I'ma calling it a week.
Hi Mike,
Thank you so much for your reply. Yeah, it doesn't look like a good setup so I'll just pass on it and see how it develops for further learning.
And I should thank you deeply for your great sharings here. I discovered this thread like 2-3 weeks ago and I have read the first 250 pages or so and followed Jim's (James16) and your videos at the James16 guest area. Those videos are priceless! I have learnt a lot from you and Jim. And I am happy my teacher (you) now is telling me that I am able to do what you taught.
I look...
Hi all,
I've been leeching from this thread for the past 5 months and decided to post my first reply as JAmes' casual remark on the "invisibles" 2 days back got through to me
Had some previous experience trading stocks, options, futures for the past 3 yrs and never got anywhere except 2 blown accounts under my belt. Started on forex about 5 months back under influence from a close friend and the best thing that happened to me after that was stumbling upon this thread before i blew the third account trading inside bars on 15 mins charts
Just...
Pretty quiet.
Sleep day for Mikey.
I'ma calling it a week.
There has been talk of the US 'carry' as a huge factor, but I dont buy it. I see the uptrend as just a return of a safe haven flow, now that people have realised that the US isnt going to implode.... but Europe might. Explains why its relatively flat against the yen this year - you have rebalancing between yen and usd, rather than everyone shoving their money into tokyo everytime they see a banker with the flu. Obviously, looking at JGBs, we can expect more us->jp in the future, as you said. Well, thats how it read to me anyways
The biggest risk I see is to the downside with all the funds unwinding big short euro/sterling positions, since no matter which way Greece or Spain goes, its going to mean a rising euro...
Very true, but I dont think the two are mutually exclusive. Find a probable future longterm path, get a cheap short term entry, buy Aston Martin Vanquish.
And regardless, its fun to talk about
Fireworks will begin shortly.........
.
