all is eternal - this is good news for people who loves bad news
james16 Chart Thread
- #110,842
- Apr 27, 2012 4:37am Apr 27, 2012 4:37am
Posted these back in March - there was money to be made there. Hope someone took it. Well spotted
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Now we're back, is it short again?
- #110,843
- Apr 27, 2012 4:42am Apr 27, 2012 4:42am
Sure we can Touch trade the level with a smaller stop....basically trying to pick a top or bottom.
. with correct analysis and enough confluence we can touch trade with good probability of catching nice trades. Good MM and RR come into play.That is VERY different from picking tops and bottoms. But you're right though in some ways... without the story and the confluence we DONT EVER try to pick tops and bottoms. Well i dont.
- #110,844
- Apr 27, 2012 4:54am Apr 27, 2012 4:54am
Very nice charts....looks like someone's likes his PIE and made some pips. Did you dump the short position at BRN 1.25 and go long?
. I'm adding tools to my arsenal all the time - loving the PIE stuff and combining that with the thread which got me started (here) is working well for me. If only i'd done that long! No, i got rid of short earlier than BRN (not by loads tho) and missed my long setup so although my charts gave clues to the story before the fact my noobishness prevented the full profits coming my way.
Perhaps it'll give me another chance now!
- #110,846
- Apr 27, 2012 4:58am Apr 27, 2012 4:58am
- | Joined Nov 2011 | Status: Trader | 1,078 Posts
Thoughts are things
- #110,848
- Apr 27, 2012 5:57am Apr 27, 2012 5:57am
I did not even look at lower timeframes since joining J16 two months ago.
Its like my no.1 rule for now, since I was machinegun-ing my trades in the past on lower TF's and I now I feel very comfortable on D1.
beebolbod, you allready set SL to BE at A/C?
It's coming back for the retest and hopefully a bigger drop this time. I'd prefer that anyway. The formation i posted worked a treat. Lets see where it goes this time. Ideas on chart.
- #110,849
- Apr 27, 2012 6:15am Apr 27, 2012 6:15am
- | Joined Nov 2011 | Status: Trader | 1,078 Posts
Already in and out of that one (140ish pips)....
Thoughts are things
- #110,850
- Apr 27, 2012 6:24am Apr 27, 2012 6:24am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
Hey Bullzeye,
You'll keep getting burned if you don't refrain yourself from buying resistance and selling support blind.
You took on a trade that is a great "practical" of the problem I told you about earlier.
You see in taking a long blindly at resistance, you're basically banking on very little information. Trust me if you will, that's exactly what the pros want...
Thanks Ghous again for your informative answer. And for remembering on my E/U trade few days ago I will try hard not to take such setups like this one
- #110,851
- Apr 27, 2012 6:31am Apr 27, 2012 6:31am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
missunderstanding. I refered to AUD/CAD
thanks guys for this setup, i set my SL to BE and will take half out on the first TA
- #110,852
- Apr 27, 2012 6:37am Apr 27, 2012 6:37am
- | Joined Nov 2011 | Status: Trader | 1,078 Posts
Thoughts are things
- #110,853
- Apr 27, 2012 6:49am Apr 27, 2012 6:49am
missunderstanding. I refered to AUD/CAD
yeah this was what i meant by my TG being too aggressive... i took some out and set to BE already. W1 looking interesting for us. Free trade now so i'll let most of it run to where it wants and take profits when i want.
- #110,858
- Apr 27, 2012 7:29am Apr 27, 2012 7:29am
- Joined Oct 2010 | Status: full time beer drinker | 1,345 Posts
- #110,860
- Apr 27, 2012 7:51am Apr 27, 2012 7:51am
- | Joined Nov 2011 | Status: Trader | 1,078 Posts
Thoughts are things