Any thoughts?
right on support and trendline together. (not clearly broken)
We have to recognize the right situation to look for an entry signal then. Not every pin or outside bar is the signal one.
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james16 Chart Thread
- #107,581
- Feb 17, 2012 7:12am Feb 17, 2012 7:12am
right on support and trendline together. (not clearly broken)
We have to recognize the right situation to look for an entry signal then. Not every pin or outside bar is the signal one.
- #107,582
- Edited 4:36pm Feb 17, 2012 7:13am | Edited 4:36pm
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Hi . Plz Bare with me for a couple of short paragraphs .
Short Note : The Heads of this thread are GOD SEND . TRUE Angels ( I know angel is used for females but you get the point ) .
I have known this thread for quite a while but its my first post here . I tried and tried and God knows I tried to get a hold of the material on this thread on my own but I have a very low resistance on lengthy readings , my fault , so naturally I was unsuccessful . And then , I , out of the blue , decided...
JIm
Indicators show the past. Price Action "Indicates" the future.
- #107,583
- Feb 17, 2012 7:23am Feb 17, 2012 7:23am
right on support and trendline together. (not clearly broken)
We have to recognize the right situation to look for an entry signal then. Not every pin or outside bar is the signal one.
i actually thought it will break the support and did not wait for its actual break.
i was so biased on the downturn and did not look at the trendline.
thanks for the response.
When the internal struggle ends, everything becomes easy - Mr. Douglas
- #107,584
- Feb 17, 2012 7:33am Feb 17, 2012 7:33am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
I am all this is learning from you guys and your guidance and kindness giving me some confidence. Thanks all of you guys.
K.K.
This was a great trade for you . . to see it before it happened . .see it unfold . .etc. Strong Swing High . .Space . .PBT&CA . .
Alot of good stuff to learn on this one Kaykay . .
Jim
Indicators show the past. Price Action "Indicates" the future.
- #107,585
- Feb 17, 2012 8:06am Feb 17, 2012 8:06am
updated chart
we have now tested the last major high from that huge spike. Or the last very major area of supply while being in this box. 80 is now the focus point
gone ahead here and reduce my stop under the retest of the "boxed" area. Logical, reduces about 60% risk.
all is eternal - this is good news for people who loves bad news
- #107,587
- Feb 17, 2012 9:28am Feb 17, 2012 9:28am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
I have bad feeling that Azumi will try to help overcome this 80 area soon
80 is a major area with a major box. If we can get above it though there is a very good chance we turn back to support and can catch a real runner. Have to wait and see it's up to the market now
Have a great weekend all
Mike
- #107,589
- Feb 17, 2012 10:39am Feb 17, 2012 10:39am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
thanks Mike..Yup, i missed alot of things..that's because i took a vacation from the thread trying to look for other 'easier' setups. i did not find any..so i'm back here.
so basically, im starting all over again and will need everybody's patience.
mike, what does the red arrow mean?
thanks again.
Allan
Welcome back
The red arrow is a major swing point. Notice once price got above it it turned from resistance to support. Or a PPZ. The bottom of the "Box" is created by that support line that began from the swing high point. All the pieces are often interconnected like that. That's the tricky part
Best
Mike
- #107,590
- Feb 17, 2012 11:23am Feb 17, 2012 11:23am
Hey Allan
Welcome back
The red arrow is a major swing point. Notice once price got above it it turned from resistance to support. Or a PPZ. The bottom of the "Box" is created by that support line that began from the swing high point. All the pieces are often interconnected like that. That's the tricky part
Best
Mike
thanks
When the internal struggle ends, everything becomes easy - Mr. Douglas
- #107,591
- Feb 17, 2012 12:59pm Feb 17, 2012 12:59pm
Hi all,
I had a lecture on management today, totally outside of trading, but as we are in this as a business, I thought it might hold some truth to the teachings in this thread. I won't elaborate, just throw in some key points I feel are relevant.
If it is deemed inappropriate I will be happy to delete this post:
The Priorities of Management
- Coping with change and uncertainty
- Delivering performance
- Making a 'profit'
What is Management?
- Devising and implementing everything that is needed to deliver the results required
- Establishing what profit, performance, success and failure are
- Willingness to adapt, change, improve and progress
- The ability to analyse and evaluate every area of your organisations activities, so as to be able to build on strengths and remedy the weaknesses
- The ability to address problems and put errors and omissions right
- The ability to operate within a given environment
- The ability to justify and defend a point of view, using evidence and facts
- The ability to arrive at your own informed and supported judgements and conclusions that you can justify yourself
- The ability to recognise and evaluate both/all sides of any argument or position, proposal, issue or set of circumstances
- The need to examine everything in full detail
- The ability to own up to errors and admit to mistakes and learn from them!
"There is a clear relationship between declining performance and company failure where the above expertise is not present".
Have a good weekend T
I had a lecture on management today, totally outside of trading, but as we are in this as a business, I thought it might hold some truth to the teachings in this thread. I won't elaborate, just throw in some key points I feel are relevant.
If it is deemed inappropriate I will be happy to delete this post:
The Priorities of Management
- Coping with change and uncertainty
- Delivering performance
- Making a 'profit'
What is Management?
- Devising and implementing everything that is needed to deliver the results required
- Establishing what profit, performance, success and failure are
- Willingness to adapt, change, improve and progress
- The ability to analyse and evaluate every area of your organisations activities, so as to be able to build on strengths and remedy the weaknesses
- The ability to address problems and put errors and omissions right
- The ability to operate within a given environment
- The ability to justify and defend a point of view, using evidence and facts
- The ability to arrive at your own informed and supported judgements and conclusions that you can justify yourself
- The ability to recognise and evaluate both/all sides of any argument or position, proposal, issue or set of circumstances
- The need to examine everything in full detail
- The ability to own up to errors and admit to mistakes and learn from them!
"There is a clear relationship between declining performance and company failure where the above expertise is not present".
Have a good weekend
T
Hi all,
I had a lecture on management today, totally outside of trading, but as we are in this as a business, I thought it might hold some truth to the teachings in this thread. I won't elaborate, just throw in some key points I feel are relevant.
If it is deemed inappropriate I will be happy to delete this post:
The Priorities of Management
- Coping with change and uncertainty
- Delivering performance
- Making a 'profit'
What is Management?
- Devising and implementing everything that is needed to deliver the results required
-...
It's only after we've lost everything that we're free to do anything.
- #107,593
- Feb 17, 2012 1:18pm Feb 17, 2012 1:18pm
- | Commercial User | Joined Nov 2010 | 1,178 Posts
Nothing personal,just business
I wanted dispel my doubts:
1)If we see a box - enter into a transaction with caution, or better not to go at all.
2)Wait for breakout box and wait for the signal PA
Do I understand?
Thanks in advance for your reply
1)If we see a box - enter into a transaction with caution, or better not to go at all.
2)Wait for breakout box and wait for the signal PA
Do I understand?
Thanks in advance for your reply 
It's only after we've lost everything that we're free to do anything.
- #107,595
- Feb 17, 2012 1:56pm Feb 17, 2012 1:56pm
I wanted dispel my doubts:
1)If we see a box - enter into a transaction with caution, or better not to go at all.
2)Wait for breakout box and wait for the signal PA
Do I understand?
Your chart is exactly how I personally trade breakouts and/with consolidation boxes. I love them! They play a huge part in my story telling. It is definitely better to trade away from a consolidation area than into them.
Attached is my only trade for the day. Although I'm effectively trading into a consolidation box, I am aware of it's location, history and how price is likely to respond in and around it.
Although quite different to your chart, it is how they assist in my story telling and fundamentally tell me whether the story is strong enough to pull the trigger. Got to give full credit to Mike Mbqb11 for teaching us how important a good story is!
Sorry for my mini ramble. As always it's just my view and how I interpret the information.
T
Thanks for the above comment Alexandr
Your chart is exactly how I personally trade breakouts and/with consolidation boxes. I love them! They play a huge part in my story telling. It is definitely better to trade away from a consolidation area than into them.
Attached is my only trade for the day. Although I'm effectively trading into a consolidation box, I am aware of it's location, history and how price is likely to respond in and around it.
Although quite different to your chart, it is how they assist in my...
It's only after we've lost everything that we're free to do anything.
- #107,598
- Feb 17, 2012 2:42pm Feb 17, 2012 2:42pm
I wanted dispel my doubts:
1)If we see a box - enter into a transaction with caution, or better not to go at all.
2)Wait for breakout box and wait for the signal PA
Do I understand?
Thanks for the above comment Alexandr
Attached is my only trade for the day. Although I'm effectively trading into a consolidation box, I am aware of it's location, history and how price is likely to respond in and around it.T
thanks
