very cool rust, nice and simple I like it
Mike
Thank you master
james16 Chart Thread
- #108,802
- Mar 14, 2012 10:33am Mar 14, 2012 10:33am
- | Joined May 2010 | Status: Trader | 1,100 Posts
another pair im keeping an eye on. Would like to see a pullback to the trendline and xx50 level with some kind of PA for a short. Will wait and see ...
Attachment
Hey James and gang,
I'm a newb at J16 PA methods, but i was wondering what level of trade would you consider the one in this screenshot to be(B, B+, A, A+, none)?
I saw a pinbar (kinda small nose) at a support level, round number and 79% fib retracement level.
Tell me what do u think
http://img696.imageshack.us/img696/1964/audnzdd1.jpg
I'm a newb at J16 PA methods, but i was wondering what level of trade would you consider the one in this screenshot to be(B, B+, A, A+, none)?
I saw a pinbar (kinda small nose) at a support level, round number and 79% fib retracement level.
Tell me what do u think
http://img696.imageshack.us/img696/1964/audnzdd1.jpg
I don't need easy. I just need possible.
- #108,805
- Mar 14, 2012 11:40am Mar 14, 2012 11:40am
- Joined Jun 2010 | Status: Hello,Mr.Market | 1,806 Posts
A chart helps those who can read it.
- #108,806
- Mar 14, 2012 12:59pm Mar 14, 2012 12:59pm
A rather aggressive entry on my behalf, but the level, the story, and PA, was too good to pass. I would have preferred a pitbull PB but the daily level was too strong IMHO.
If price closes as is on the daily, I'll be watching for PA on the retest in the near future.
Those starting off, stick to those daily charts
If price closes as is on the daily, I'll be watching for PA on the retest in the near future.
Those starting off, stick to those daily charts
- #108,808
- Mar 14, 2012 4:02pm Mar 14, 2012 4:02pm
- Joined Aug 2010 | Status: Tööröh | 14,292 Posts
Approx 60 pip stop and approx 60 pip move = 1R on the trade. 2% of total account at risk = 2% added to account value (small account admittedly).
I risk 2% on all trades. As I don't take partial profits, I generally reduce risk fairly quickly...sometimes as quickly as when an order triggers (as was the case here).
keep on !
regards,
Jonas
Hero calls followed by margin calls...
- #108,809
- Mar 14, 2012 4:13pm Mar 14, 2012 4:13pm
- Joined Aug 2010 | Status: Tööröh | 14,292 Posts
short n clear...dont have time for going into detail right now...
see ya later,
regards,
Jonas
if we break highs 70.00 will be our new support lvl to watch for...thats my bet....but for now shorts should work out hence you get a good entry in supply area
see ya later,
regards,
Jonas
if we break highs 70.00 will be our new support lvl to watch for...thats my bet....but for now shorts should work out hence you get a good entry in supply area
Hero calls followed by margin calls...
- #108,810
- Mar 14, 2012 5:44pm Mar 14, 2012 5:44pm
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
- #108,811
- Mar 14, 2012 6:43pm Mar 14, 2012 6:43pm
Whoop de doo.... biggest ever trade for me... 500 pips+ so far. SL at 400p. closed out some, left a little on the table.
Attachment
congrats on this fantastic run on the trade. Yea, noticed that Gold observe price action very well. I had some nice paper trades on it as well.
May i ask for your 1st trade, which was your trigger bar? Sorry if this has been asked b4.
Can u pls share the indicator that shows the diff time zones (NY, Tokyu, london sydney)? Thanks alot!
- #108,814
- Mar 14, 2012 10:37pm Mar 14, 2012 10:37pm
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
- #108,815
- Mar 15, 2012 12:59am Mar 15, 2012 12:59am
Hi Bee,
congrats on this fantastic run on the trade. Yea, noticed that Gold observe price action very well. I had some nice paper trades on it as well.
May i ask for your 1st trade, which was your trigger bar? Sorry if this has been asked b4.
Can u pls share the indicator that shows the diff time zones (NY, Tokyu, london sydney)? Thanks alot!
I've attached my process for pulling the trigger with gold. Not a bar entry as such. It's a bit messy but i was watching this for a while so i've tried to include all my thinking behind this. I've recently learnt (thankfully all to the good) that this can be a killer pair (moves V fast) so i always want small stops on this pair. Fundamentally this trade is very simply explained as support turned resistance.
Indi here.
- #108,816
- Mar 15, 2012 1:18am Mar 15, 2012 1:18am
Inside bar generated from RN, supply zone, falling trendline and lets throw in 88.6 fib too (not drawn - i add them last usually). That's confluence for a low risk entry in my eyes. Shitty spread so initial stop higher than i'd like but almost BE now... pennies at risk now. Lets see.
Sorry about the mess....
Actually do people mind me including charts with supply/demand zones (drawn by indi)? I use it for confluence.
And i have Mr Deankenny to thank for that actually. I like the learning i've done with that stuff... hours and hours. combined with J16 i think it's really something.
But i'll happily remove from charts if people find it messy and obfuscating the direction of this thread.
Sorry about the mess....
Actually do people mind me including charts with supply/demand zones (drawn by indi)? I use it for confluence.
And i have Mr Deankenny to thank for that actually. I like the learning i've done with that stuff... hours and hours. combined with J16 i think it's really something.
But i'll happily remove from charts if people find it messy and obfuscating the direction of this thread.
- #108,817
- Mar 15, 2012 1:31am Mar 15, 2012 1:31am
Mr Pinbar shared the timezone indi with me... i like it although now i'm back in the zone (translation:extensive screen time) i'm starting to instinctively remember what times are around the world so i'll remove it soon maybe.... very handy though.
I've attached my process for pulling the trigger with gold. Not a bar entry as such. It's a bit messy but i was watching this for a while so i've tried to include all my thinking behind this. I've recently learnt (thankfully all to the good) that this can be a killer pair (moves V fast) so i always...
Re your 1st trade, may i know where u placed your stop? Did you have any FTA in mind when u entered the trade as personally I see 1695ish (lows of 4th-6th bar just b4your entry) as some kind of FTA. Hope to learn from u, thanks again
- #108,818
- Mar 15, 2012 2:04am Mar 15, 2012 2:04am
Thanks Bee, will try out the indi. And many thanks for the detailed outline of your trade
Re your 1st trade, may i know where u placed your stop? Did you have any FTA in mind when u entered the trade as personally I see 1695ish (lows of 4th-6th bar just b4your entry) as some kind of FTA. Hope to learn from u, thanks again
Be careful learning from me... i'm a noob, but i'm a profitable noob so far so thats something i suppose.
1st trade i put my stop just above the bar i played as the trigger, so around 50 pips or so. 1705ish.
The FTA i saw was a demand level. I closed it all for almost max profit on that move so i was quite proud of my management there. So far i've been guilty of hoping levels would break for bigger profit but here i 'knew' (followed conventional teachings and logic) that it'd bounce there so i got out.
I struggle watching price come back at me so quite often quit big moves early or hang on to stuff too long. this will come with experience i'm certain.
Once that demand level had been tested i 'knew' it was weakened (price did bounce there) and when visited the 2nd time i just took some profit and suspected we'd break through. We did. It was a free trade by now so i was hoping to manage it correctly so i guess that's why i'm pleased with this. I cant fault my management of it.
I almost feel a bit fraudulent because what i thought might happen, actually did, both times. This played out both times just as i wanted it to. That feels kind of strange to me as a noob although i have many successful trades under my belt where it's gone profitable, only on this one have i felt so 'in control' of it from start to finish. Once again i have Mike/Jim/Jim/Dean/Pinbar/Phant/GH/Donkey/Rust and many others to thank who post here regularly, reinforcing that what James et al teaches, really works.
Currently i have no idea where price will go with gold, so i have my stop in profit with most off table and i dont really care now anyway
- #108,819
- Mar 15, 2012 3:08am Mar 15, 2012 3:08am
- | Commercial User | Joined Nov 2010 | 1,178 Posts
[quote=beebolbod;5478407]
Hi beebolbod and congrat... for your trade..a really nice one !
This is what I see about gold.
Currently i have no idea where price will go with gold, so i have my stop in profit with most off table and i dont really care now anyway
This is what I see about gold.
Nothing personal,just business