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james16 Chart Thread
- #93,482
- Apr 12, 2011 8:08am Apr 12, 2011 8:08am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
Hi Pinbar
Thanks for posting this chart.
Can I just ask about your black line entry points.
I notice you dont enter on any of the chart examples right on the break of the PA bar and wait to enter a bit. Do you have a set no of pips etc that you wait before your entry after the PA bar breaks ?, or do you judge it trade by trade?
Thanks again
Malarky
On the daily chart, the conservative entry is usually 10-15 pips after the break of the bar. Some people actually enter on the retracement of a PA setup but, that is more advanced and more risky.
I just put a rough line on those charts that would be around 10-15 pips on a daily chart.
- #93,487
- Apr 12, 2011 8:39am Apr 12, 2011 8:39am
Jarroo or anyone one else who is keen to share:
- This is the first IB I have traded and was wanting to clarify it's validity and my thinkings given your teachings on PBT&CA and PBT&CB.
The IB is marked in grey (Not the PB).
- I viewed the 1.3775 as a strong resistance level before price broke through it.
- Once it did, it formed an inside bar ABOVE the 1.3775 area (PBT&CA).
- I considered the probability of this level acting as SUPPORT to be very high.
- Buy order at the break of the PB, target 1.3960 or recent highs.
Thanks in advance.
- This is the first IB I have traded and was wanting to clarify it's validity and my thinkings given your teachings on PBT&CA and PBT&CB.
The IB is marked in grey (Not the PB).
- I viewed the 1.3775 as a strong resistance level before price broke through it.
- Once it did, it formed an inside bar ABOVE the 1.3775 area (PBT&CA).
- I considered the probability of this level acting as SUPPORT to be very high.
- Buy order at the break of the PB, target 1.3960 or recent highs.
Thanks in advance.
- #93,488
- Apr 12, 2011 8:54am Apr 12, 2011 8:54am
Nice one.
I ran from the trade away too soon at 0,9024. Clould have twice more pips.
Pitty.
J.
- #93,489
- Apr 12, 2011 8:58am Apr 12, 2011 8:58am
- | Commercial User | Joined Nov 2010 | 1,178 Posts
Nothing personal,just business
I keep looking into the chat but I am always the only one 
Do you have some skype room or am I júst loging in at the wrong time?!
http://184.106.203.67:443/
Do you have some skype room or am I júst loging in at the wrong time?!
http://184.106.203.67:443/
- #93,493
- Apr 12, 2011 9:36am Apr 12, 2011 9:36am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
I keep looking into the chat but I am always the only one
Do you have some skype room or am I júst loging in at the wrong time?!
http://184.106.203.67:443/
That's the correct public chat. That's up there for you all to use anytime. We tend to hang out at scheduled times(I'll for example post up and get some people going when I have some time). But it's there for you guys to use if you ever desire
Best
Mike
- #93,494
- Apr 12, 2011 10:02am Apr 12, 2011 10:02am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Jarroo or anyone one else who is keen to share:
- This is the first IB I have traded and was wanting to clarify it's validity and my thinkings given your teachings on PBT&CA and PBT&CB.
The IB is marked in grey (Not the PB).
- I viewed the 1.3775 as a strong resistance level before price broke through it....
That is a pretty chart my friend. You are doing very well
Best
Mike
- #93,495
- Apr 12, 2011 10:23am Apr 12, 2011 10:23am
That is a pretty chart my friend. You are doing very well
Best
Mike
This is my story.
Hey 5.25 first of all nice trade!
?
Just trying to expand my repertoire here.
Avanish, as well the notes I posted, I saw this as a 'breather' before the market decided where to go. It wasn't a 50/50 shot, the Resistance turned Support pushed the odds into going long. Just my thoughts.
Tomek
- #93,496
- Apr 12, 2011 10:53am Apr 12, 2011 10:53am
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
So far, so good.
Moved my stop down a lil bit, above yesterday's high.
Just monitoring it lightly now....
Sorry for using the crappy IBFX feed for my daily chart here, but I place my trades on IBFX
Many choose unhappiness over uncertainty.
- #93,499
- Apr 12, 2011 11:16am Apr 12, 2011 11:16am
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
I didn't take any of them due to near FTA
I noticed that you actually plot more PPZs than i do. And the ones i draw are at the same levels as yours. And yet some of these setups were tradeable to you. So i suppose there is no way to assess the strength/likelihood of those near PPZ to stall/even reject price? But rather there were other factors supporting the setups and justify taking risk of price bounced off these near FTA?
...
yes, in short, there was a compelling 'story' to trade.
u have to take an overall assessment, & not just look at a single factor.
think 'forest vs trees'
or
let's say i wrote a paragraph. it has 5 sentences.
if i ask u to summarize what i said, u dont base your summary on 1 word in the paragraph or even on 1 sentence. u read & understand all the 5sentences, & all the words in all 5 sentences... before u come up with a summary.
or
if u are driving in a busy neighborhood/city,
u dont just look in front of u & just drive.
u take everything into account:
u look ahead of u, to the left , to the right, u look back... u look at the stop light, u look at the pedestrian, u look at potholes/road humps, beautiful women, the buses/other cars,... etc
assuming i traded these on Daily (& assuming i can peek, but dont trade, on lower TF)
I assume you take some of these setups on the same TF as the charts (daily)
So this setup is tradeable to you because it is with the trend?And you would have entered below the purple line?
im quite aggressive.. i may have entered prior the purple line &/or on the bar after the BEOB. i trade whether or not PA setups (PB, BEOB etc) have formed.
Again you would have taken this one because it is with the trend?But at what point would you have moved SL to BE?For me FTA was 1.3500 (also top of the box) and it was very close.
SL to BE, for me, possibly when price was at/in between 1.35 (yellow line) & short white line(1.3450-ish?).
do you analyse WIPG from the weekly chart? Projecting depth of the double bottom upwards to around 1.4000 area? And since price is moving higher it might retest previous swing high 1.38 and 1.45? Is this how you see WIPG?
i make projections but i dont rely on them too much. they are more of a confluence to me. also, price doesnt always respect 'projections' --price either breaks thru or falls short of them.
yes, price moves in a zigzag fashion, making HH & HL (for uptrend; reverse for downtrend).
sorry, on that previous post, i meant double bottom, not double top.
What's with the yellow rectangles/ellipses? Could you explain a bit more?
in gbpcad, the lower wicks were uniform (the wick lows are of almost the same price), the ellipse shows a 'smoother' downmove. also it has more space (yellow diagonal lines)
in eurcad, the lower wicks are not uniform (different prices on the wick lows), the ellipse shows 3 candles that look like a small consolidation box.
do compare the 2 charts to understand exactly what i meant.
in contrast, maybe u can post your winning trades next time. (this will reinforce what setups u need to trade)
i'd like to reiterate that u should only trade setups that look good to you & pass your criteria. u dont need to trade setups like the 4 above.
hope this helps!
- #93,500
- Apr 12, 2011 11:16am Apr 12, 2011 11:16am
- | Joined Sep 2009 | Status: Making Money > Being "Right" | 1,811 Posts
Many choose unhappiness over uncertainty.