james16 Chart Thread
Okidoki...Here you go.
I can see the how you are using the consolidation box to springboard off of with confirming PA.
That's it in a nutshell, Steve . . pretty simple stuff, don't you think? . .
This why I am working on the single bar analysis combined with this.
Yes, it is, it is just me that is complicating things.
Many thanks Jarroo and please remember I am not doubting your ideas or Mike's or the Big Guy's ideas, it is just something I have to surpass.
Were you ever like this, I mean I can see the setups and areas where we may see or rather where price often shows us PA setups but, I always find a reason to hesitate. Always.
I also wanted to point out the highest close of Resistance ( the same with the lowest close of Support). They can be a very important level as well.
You can see how Price came back and touch this highest close level.
Absolutlely I was like that, Steve. You just have to keep at . .keep testing it yourself . . keep back testing and demoing . .keep doing the single bar analysis. . .you have to prove it to yourself . .see it live for yourself and then you will start to believe it. . .yourself.
Yes, this is the key to truly believing it, I feel.
I shall keep at it, my friend. Many thanks for your honesty Jim.
So I've been reading through this thread for a days now, and have started to demo with it. In doing so I came across a potential trade that I want to get your opinions on. I've attached the chart and will explain whats making me thing its a worthwhile trade.
Buy at just above the Pin, with a SL just below its low. The pinbar stopped on the 50% fibo line exactly, and has the potential to retrace back up to the 50% fibo / 23.6 fibo confluence.
Have I got this right, and am I even on the right track for the James16 PA thread or am I way...
So I've been reading through this thread for a days now, and have started to demo with it. In doing so I came across a potential trade that I want to get your opinions on. I've attached the chart and will explain whats making me thing its a worthwhile trade.
Buy at just above the Pin, with a SL just below its low. The pinbar stopped on the 50% fibo line exactly, and has the potential to retrace back up to the 50% fibo / 23.6 fibo confluence.
Have I got this right, and am I even on the right track for the James16 PA thread or am I way off...
Yes, good point Adi.
sometimes I feel I learned a lot here too..... much more than on all other websites combined...for sure...
Yes, all we have to do now is use it properly.
Hey, I went back over my notes and found J16 trailing his trades with a fibo from the low of the entry bar and continually moving it up to the high.
Trailing the trade behind the 50 and 38.2 depending on how far away the trade gets from the entry and at key points at RNs.
May be food for thought for you Adi.
I wouldnt like to have any shorts against that weekly brickwall level, especially at the first test after breakout. Touch trade with tighter sl on weekly or some good bullish, lower tf pa at this level might be better option Imo.
I was thinking about this too (behind 38.2) it was a suggestion by a member named Gejordan into my journal. However I think I will go for fixed target for now... I made so many different variations and different tests on different pairs and the fixed target (with fast BE) is always come out the best. And I like the "set and forget" feel to it
However in general I like this approach very much, feels (and looks on charts) a much better way to trail than using MA's as I always did.
EDIT: Strange I have never seen this mentioned by James, it...
