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all is eternal - this is good news for people who loves bad news
james16 Chart Thread
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- #108,204
- Feb 29, 2012 2:31pm Feb 29, 2012 2:31pm
Perhaps he should change his user name to "pitbull" given his reaction to any sort of criticism........The guy was suspended a few days ago for a mad rant and he looks close to tipping over the edge again!
I know I'll get myself into trouble here but his prolific posting on low time frame charts is just confusing for new people and those of us that aren't so new.
I have been consistently profitable for 14 months now and only trade daily and weekly charts as James suggests right at the beginning of this thread.
I can't emphasise just how important...
- #108,207
- Feb 29, 2012 2:40pm Feb 29, 2012 2:40pm
Well lets just take it with a pinch of salt eh.... the guy regularly posts insightful and clear charts. We are not here to follow people, we are here to learn. And as would be traders we need balls so a little friction here and there shouldn't bother us. I know i just find it amusing.
- #108,208
- Feb 29, 2012 2:42pm Feb 29, 2012 2:42pm
- Joined Sep 2010 | Status: Trader | 1,122 Posts
Human
- #108,209
- Edited 3:24pm Feb 29, 2012 2:47pm | Edited 3:24pm
People , Plz give me your advice of what you all think of GPB USD at the moment ??? It's daily is forming a VERY nice Pin bar !!! BUT , if we see to H1 , It might just be a retest of the broken level !!! Which of these two is more likely ???? I mean Is PIN on daily would be valid if it closes neutral , which would be exactly on that level ???
And EUR USD ??? What abt that Daily BEOB that has formed ? It looks like it will close right above 1.33 !!!! If that happens , what then ???
If I say "Wow! That's what Im looking for." I take the trade.
Up to you buddy. GU looks like a retest so I don't trade it now. (It doesn't mean you should not take the trade
)EDIT: EU is touching previous high so I would wait for long setup during next days rather that go short now.
Chart:
Follow my trading on Twitter and FB: @pumlitch
- #108,210
- Feb 29, 2012 2:53pm Feb 29, 2012 2:53pm
- Joined Sep 2010 | Status: Trader | 1,122 Posts
Human
- #108,212
- Feb 29, 2012 3:12pm Feb 29, 2012 3:12pm
Getting my interest.
BTW, I was already in but got kicked out thanks to early moved stop loss. My usual fault.
Follow my trading on Twitter and FB: @pumlitch
- #108,213
- Feb 29, 2012 3:54pm Feb 29, 2012 3:54pm
- | Joined Mar 2008 | Status: shoe shine boy | 1,146 Posts
I do not think this is an A+ set-up, which is why I will not play it(even if I am only demoing!)
But I do think it has a high % of reaching heavy support below.
Its a game of odds
..... and you are probably right in your asumptions.
If you have confidence about price reaching that support area then why not planning that trade?
I have "gut feeling" and the pb beob is a nice PA setup, but I do not believe it to be an A+ setup, which I am only interested in playing. I could be wrong, but Jim doesn't play B+ setups, or teach to trade them.
This is why I posted it. Maybe it is an A+ setup, and my logic is wrong. I am just looking for a discussion on it.
Hey Yehuda
It's a nice big bar and that alone should probably carry us lower.
Overall the daily is pretty sideways(albeit a larger range) and there isn't a ton of confluence here so the most important thing is to understand our trouble areas if we choose to play in a situation like this.
I don't trade gold with the new US laws but here would be the FTA. Likewise to the upside I marked the area I wouldn't want to see price get past.
Best
Mike
Just would love to hear your two cents on NZDUSD. Im not gonna take it in my demo acc, but I am wondering if I am wrong? The close below the significant resistance has me flustered???
- #108,218
- Feb 29, 2012 4:16pm Feb 29, 2012 4:16pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
really want to see us start to break this down trendline and hopefully settle into some consolidation and break up. Start to build a stronger base would be nice here.
in an ideal world of course
Was hoping to hold this for a full year lol, but it's time to lock in some more profit
- #108,219
- Feb 29, 2012 4:18pm Feb 29, 2012 4:18pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Hey Mike
Just would love to hear your two cents on NZDUSD. Im not gonna take it in my demo acc, but I am wondering if I am wrong? The close below the significant resistance has me flustered???
That's a pretty strong bearish sign we got today, but ultimately we can't forget the chart. Which places the pin back in the box that it tried to break out of.
A box of consolidation has 2 major areas I watch. The midpoint of the box and the bottom. A break of this bar is at the midpoint but with the size of it the bottom of the box is likely. After that we have to wait and see.
If it touched the BRN I would likely have taken it too. But their are a lot of opportunities on some of the nzd crosses
Best
Mike
- #108,220
- Feb 29, 2012 4:18pm Feb 29, 2012 4:18pm
Nice bearish drop on NZDCAD. I won't be surprised if 0.8350 holds up as resistance if price closes as is. Note the consolidation area.
The old, . ."Price failing as Support . .turns back to Resistance". . .trick.
Yeah I can see that happening too, T . .damn you crazy crosses!!! .. .lol
Now you're talking . .nice . .
Beginners, best to validate this trade with a PA signal.
