james16 Chart Thread
- #89,864
- Feb 22, 2011 11:31pm Feb 22, 2011 11:31pm
- | Joined Jul 2010 | Status: MAKE IT HAPPEN | 2,220 Posts
I looked at this one closely too because I really like the 1.3500 and bar has a great close. The 1.3580 area kept me out though.
- #89,865
- Feb 22, 2011 11:32pm Feb 22, 2011 11:32pm
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
That BEOB at the 1.0 had a target too . . .stop loss below its target.
- #89,868
- Feb 23, 2011 12:04am Feb 23, 2011 12:04am
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
We have a few very interesting areas to "keep an eye on" at after todays drop.
set this sell limit shortly after that^^ post, about to delete it now.
chart is GBPJPY 4hr
Many choose unhappiness over uncertainty.
- #89,869
- Feb 23, 2011 12:32am Feb 23, 2011 12:32am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
- #89,870
- Feb 23, 2011 12:45am Feb 23, 2011 12:45am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Hi guys,
First of all congrats to all of those that took the GBP/CHF trade..
Everything looked good .. we had :
Divergence
Lower lows
Higher Lows
Close below 1.55 and clear FTA 1.52 as Sir Jarroo pointed out..
The thing that made not take this trade was the close of the BEOB bar, I was looking for a close below previous bar....
anyway, u already had great replies..
im not sure if u are being too picky. i think u are already at a stage wherein u know what u want, what to look for, what to trade. if that is the case, getting a bit more flexible may harm u. unless u test this flexibility & see if it fits your trading personality.
personally, a weekly chart is too slow for me.
also, just like any higher timeframe (Daily & up), there will be trends within trends (price moves up & down, not a 1 way street)...
meaning, if weekly bar is a BEOB, then it's possible that u had an uptrend then a downtrend within that particular bar (remember a weekly bar is comprised of 5+ days price movement... not too mention that 5 days translates to several/many M5 - H4 bars).
u can exploit this (up&down) price movement (by trading daily & lower timeframes) & serve as a gauge if the weekly BEOB has a chance to move further down by checking lower timeframes.
check the IBFX charts below.
*FIRST chart shows gbpchf daily using line chart.
the horizontal blue line is 1.5365-ish.
*SECOND chart is daily candle chart with the same horizontal blue line.
red 'lines' show rounding tops/bottoms. the last rounding top had 2 successive PBs which tells me about potential price exhaustion. the subsequent downside break confirms this.
blue vertical line is the last candle of Friday. next to it is the Sunday bar.
the yellow horizontal line shows a non-strict multi-bar low breakout
*THIRD chart shows 1.5400 former support now resistance, last Friday (i'd consider 1.5350 to 1.5400 as PPZ). in short, PBT&CB 1.5400
*FOURTH chart is the weekly candle chart.
i wandered off a bit with my post
, but my point is to use lower timeframes to gauge the price's potential move/direction & use this info to make a decision (to trade or not).at least, this is how i'd do it (check daily & below to see if the weekly BEOB will have good potential to break down)
hope this helps
- #89,871
- Feb 23, 2011 12:53am Feb 23, 2011 12:53am
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
this current GBPCHF action has had more chart images than any single trade in the thread history
Many choose unhappiness over uncertainty.
- #89,872
- Feb 23, 2011 1:22am Feb 23, 2011 1:22am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
this current GBPCHF action has had more chart images than any single trade in the thread history
how many charts?
which pair's on 2nd place?
haha.. didnt know u were counting Dan.
- #89,873
- Feb 23, 2011 1:30am Feb 23, 2011 1:30am
- | Joined Mar 2008 | Status: shoe shine boy | 1,146 Posts
That was momentum building on the holiday . . . lol
Mike could you tell us how Price Action predicted Libya, and NZ earthquake?
- #89,874
- Feb 23, 2011 1:52am Feb 23, 2011 1:52am
- | Joined Mar 2008 | Status: shoe shine boy | 1,146 Posts
I folks.
Just a quick technical question here.
Does the body of this BEOB need to overlap the previous bar for it to be valid as opposed to relying on the wicks?
I'm more concerned with the retracement to the upside before closure (if that makes sense).
Note, there are x4 inside bars on the 4h charts if you take a look. Although I'm deviating to a potential trade setup now as opposed to my original question
Edit: I'm keen to hear what the master of Silver has to say (Greenhaze), and Mr Inside Bar, Ghous for the 4h.
)I do not pay much attention to silver right now. Grabed some profits just before 34 level and moved my stop below 31 level. Daily BEOB doesnt look strong with that close over 33 level. Imo it was jus some profit taking becouse of last days chaotic events. This upper TL looks interesting
........Meditate on this, I will.
- #89,875
- Feb 23, 2011 1:52am Feb 23, 2011 1:52am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
I think someone had some inside info on NZ earthquake and sold big just before the earth shook
u know, the earth is full of bad people nowadays, who seem to do anything to suit their needs.
- #89,876
- Feb 23, 2011 2:11am Feb 23, 2011 2:11am
to be honest, the other day, i thought "is it possible the earthquake was manufactured?"
u know, the earth is full of bad people nowadays, who seem to do anything to suit their needs.
- #89,877
- Feb 23, 2011 2:15am Feb 23, 2011 2:15am
to be honest, the other day, i thought "is it possible the earthquake was manufactured?"
u know, the earth is full of bad people nowadays, who seem to do anything to suit their needs.
When you have to shoot, shoot. Dont talk.
- #89,878
- Feb 23, 2011 2:28am Feb 23, 2011 2:28am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Think your tinfoil hat needs adjusting there, Sir
- #89,879
- Feb 23, 2011 2:30am Feb 23, 2011 2:30am
so, posts like that will make u 'unlurk' huh, hahah
Seems like y'all are doing just fine without me... though, if you could slow down the posts per hour rate, it would make it a hell of alot easier to keep up
When you have to shoot, shoot. Dont talk.
- #89,880
- Feb 23, 2011 2:50am Feb 23, 2011 2:50am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
lol... though, if you could slow down the posts per hour rate, it would make it a hell of alot easier to keep up
btw, i have been reducing my posts lately. based on FF stats, i now make 7.xx posts a day on average, compared to last year's 9.xx avg.
end of year, maybe down to 3-5 avg.
more lurking time.. hahah
Agreed. With a name like 'Supreme Chaos' I have my suspicions
