james16 Chart Thread

Who is the winner:the monthly BUOB or weekly pattern ? Will see..patience..patience.

You are right my friend,the consolidation within the PB's range was great and as you said ...patience....because the patience...rewards.First target hit,partial profit banked,SL at BE and looking for 1.58 zone.

Quote:
Originally Posted by ghous
10,998 . . 10,999 . . . 11,000 gold nuggets...and counting. . . . .


MAYBE.. you should write a book JARROO ?!

Agree, gotta be ready for PA either way.

Any thoughts on this one, if it closes like this or even better a little further down?



pat

I've been thinking a lot about the J16 method, and now I think I understand it, the simple brilliance of its accuracy, and the necessity to learn trading his way until you are ready, technically and psychologically, to go out on your own.

Let me use learning to drive as a metaphor for what I mean.
The road (market) is a very dangerous place to be, and pulling out onto a roundabout into traffic (entering a position) is extremely scary the first many times you do it, and if you're not technically and psychologically ready to do it, it can cost you dearly.

In trading, there's always a line of traffic on the roundabout coming towards you (price), and there's always the chance that it, or you will do something unexpected.

So, having a good instructor beside you to show you what to look for is a great advantage.

He can show you how to look out for possible entries.
The first sign would be the leading car indicating. This shows that there might be a space opening up soon.
But a good instructor would have you wait for a confluence of signs.
He'd have you wait until the car slowed down, and then wait until you see its wheels turn towards the exit.
He'd then assure you that this is your safest opportunity, but that you should only pull out if you are totally comfortable in doing so.

With time and practice, your confidence grows, and all these entry signs will be clearly visible, and your analysis will be so quick you won't even realise you're analysing at all.

Soon you'll find your own particular style of driving.
You may find that slow and steady works for you.
You may find that you prefer to powerslide into the roundabout and drift around it with most of your body out the window, only a leg and hand inside the car.

Once you KNOW you can trade, your style will come. But please learn the basics in safety.

And most of all, enjoy your journey!

Thanks so much to our seniors for showing us the way!!!

and to all

If

It's a nice RT to a good S/R level in a strong downtrend, but I think if it closes any further down, it will already be near its FTA.
Edit:Break the low though, and there's lots of space beneath

hi
what do you think obout this one? if it close as is it now...

Thanks for your comments. You're right about fta. I'm still going to take it, just need to be aware of fta and manage it accordingly.

pat

I'm only looking for shorts on this pair.
I'd rather sell when price is very high.
Zoom out to the daily and ask yourself what's the best option


Best

If

Took this 4 h buob closing above wedge and rn, tight stop loss. 50 % off rest to BE.



pat

Yes, I second that, it is also D2 BEOB in formation at swing high.
But I don't like the FTA being so close so no short for me neither...

I have GBP/NZD on my radar. This level seems a flip-level even on the monthly chart. I buy.

any comments about this buob on a/n?

Hi As

As an RT in a new downtrend, it looks pretty good.

As the end of an RT in an uptrend it looks pretty good too

The weekly scaress the longs out of me though

For some reasong it is not BUOB on my feed

Strong res / fib50% just above + monthly pb doesnt encourage to take longs yet.

alpari h4 closes in 1.5 hours from now...
that's why

James is back. Thank god.

It looks like we got the breakout. Daily close like that would be nice. Retracement entry near the breakout zone might be the play. 1500 here we go?