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james16 Chart Thread

Quoting Caesar95
http://i6.photobucket.com/albums/y240/Caesar95/test.gif

Look like a good potential pinbar to go short if it continues to look like this after closing
careful here that close is closing above those highest close of resistence turned into support to the left.
Quoting mbqb11
Hey Caesar

Just be careful here this is a BEOB, since it has a higher high and lower low then previous bar with the close(for now) near the low. We want these traditionally speaking at swing highs. Although They can of course be played else where I just always caution to learn them the traditional place. Further downside wouldn't surprise me though

Best
Mike

Quoting deankenny21
careful here that close is closing above those highest close of resistence turned into support to the left.
Hi Mike and Kenny,

Thanks for pointing it out to me, learning every moment...
"Nature's law" is called "Reason". When perfectly understood by human it is
Ok it wasnt cool what happened with eurusd today a 230+ pips spike ruined a perfectly great trend just to get back on the track and close my trade at sl instead of taking profit at the 1.4000 but it's was a good profit from this trade. i have to ask what happened? i see no news on FF! is it just a profit taking spike or what?!
Plan your Trade, Trade your Plan
Quoting BigJay
Ok it wasnt cool what happened with eurusd today a 230+ pips spike ruined a perfectly great trend just to get back on the track and close my trade at sl instead of taking profit at the 1.4000 but it's was a good profit from this trade. i have to ask what happened? i see no news on FF! is it just a profit taking spike or what?!
To me it looks as just a quick retest of the rising daily TL. Now forming super strong BEOB which may close behind 1.40 BRN
Attached Image (click to enlarge)
Click to Enlarge Name: 60911_eurusd.gif Size: 24 KB
Quoting BigJay
Ok it wasnt cool what happened with eurusd today a 230+ pips spike ruined a perfectly great trend just to get back on the track and close my trade at sl instead of taking profit at the 1.4000 but it's was a good profit from this trade. i have to ask what happened? i see no news on FF! is it just a profit taking spike or what?!
SNB bought tonnes of euro today, hence all the uprises in euro currencys. To help the CHF get weaker. Its all over the news.
Quoting deankenny21
SNB bought tonnes of euro today, hence all the uprises in euro currencys. To help the CHF get weaker. Its all over the news.
Oh that explains it.

Quoting Adilius07
To me it looks as just a quick retest of the rising daily TL. Now forming super strong BEOB which may close behind 1.40 BRN
Cz i dont think a restest could be that fast and that big on eurusd :s IMHO
Plan your Trade, Trade your Plan
mbqb11,

It is my understanding that you never take a full bar loss. How is it that you do so?

Thank you.
Quoting rd122481
mbqb11,

It is my understanding that you never take a full bar loss. How is it that you do so?

Thank you.
Hey RD

I take full bar losses from time to time, but I tend to take smaller losses from looking for logical ways to reduce my risk on a trade.

Take for example usd/chf, when price broke the pinbar I moved my stop up under the left eye to reduce more then half my risk on the trade.

Hope that helps
Mike
Oh okay! Thanks! Do you also increase your position size to keep the risk at 2%?
Quoting rd122481
Oh okay! Thanks! Do you also increase your position size to keep the risk at 2%?
Hey RD

I risk a fixed % of my account based on the initial stop loss

Best
Mike
Gotcha!! Thanks again for the info!
Quoting rd122481
Gotcha!! Thanks again for the info!
anytime bud
Did anyone notice playing that I4B for USD/CHF would've caught this crazy move?
Quoting 5.25
Whats the solution?

Similar events on the Gold PB few days back.
a) Get out at the FTA and bid / offer again at the original entry

b) Never, ever move to breakeven
Please note: I cannot respond to PM's but you can email me via my profile.
lol of course I kill my USDCHF... sigh......
Many choose unhappiness over uncertainty.
Quoting the_wizard
a) Get out at the FTA and bid / offer again at the original entry

b) Never, ever move to breakeven
Cool, I can see the logic. I'll see how this approach plays out.
Quoting mbqb11
Good old James16
I second that

Different pair, different time frame, same text book principles.

(Reasons to move away from Oanda. Anyone spot the difference? )
Attached Images (click to enlarge)
Click to Enlarge Name: 92_eurusd 1h.jpg Size: 75 KB Click to Enlarge Name: eurusd 1h oanda.jpg Size: 284 KB
RE: The Bearish Engulfing Outside Bars that were formed today in the Eur/Usd & the Gbp/Usd, can you actually trade those?
http://i236.photobucket.com/albums/f...gbpusd9611.jpg

http://i236.photobucket.com/albums/f...eurusd9611.jpg

Right off the bat, I wouldn't touch them because of the fact that they are not located at the end of a swing high. If there is anyone who trades these with any real measure of success please chime in. Can these be played & if so...how?

Thank you.
Something I am keeping an eye on.

Double top for XAU followed by a BEOB
Attached Image (click to enlarge)
Click to Enlarge Name: gold.JPG Size: 219 KB
Ive never traded gold, but I would like to trade that outside bearish engulfing bar at the double top. Can someone please explain to me how the pips work for gold?
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