james16 Chart Thread

Hi,

Did alright on this trade, took profit at FTA, could the previous bar highs break before the pin bar fails? Quite possibly, but I took full profit.

Kind Regards
Sanil

I was waiting to get long at 1.01962 but it didn't come back. Now it's stalling at the Weekly LCS level. Waiting to see if PA will tip it's hat on which way it's going to go.

You got it right Ricosta. Its all about the supply and demand when it comes to price movement.

for the DBLHC & DBHLC, and I looking for the highs/lows to be within 2 pips of each other? B/C on my chart i have USD/CAD at about 3.4 pips from each other for a short with the 10 SMA under the 30SMA, but price still above the 365 SMA. Previous there was a large pinbar '(though it did have a big body) on last wed/thurs i beleive

A DBHLC is like number 2 in this picture below. Number 2 is a DBHLC. Within a couple pips of the two bars at the top is best. The opposite for a DBLHC.

This is one of James16 charts.

Thank you, I was reading some of his earlier stuff as well (though I did not see that chart) and it said something along the lines of the two highs or lows need to be within 2 pips of each other. USD/CAD had a setup earlier today for a short based on DBHLC.

Great chart. Is Jim (J16) still around or has he retired from trading?

Hey Mav,
I dont see a DBHLC on my USD/CAD Daily chart. Im using FXPRO and Oanda for charting though. Could be the broker you are using, so thats why i may not see it? What time frame you see it on?

Daily - Oanda MT4 demo

yep he is still around

Nice F

You know exactly where price is likely to have trouble and did the right thing. Now you can see if you can get the breakout. At least you protected yourself. Trading those bars in tight traffic get new traders in trouble because they forget where price is going and just HOPE it keeps going. Very big difference

Nice job

Mike

Hello, I'm brand new here
Please tell me how best to put the b / y, and when? If you give a link has been discussed

One of the Jame's very old Post.
I read it enjoyed it..shared it.


im thrilled for you man.

you have given me a chance to talk about something to everyone.

let what im about to say really sink in.

what im about to "say" is the key to the kingdom and im serious when i say that.

walk away and go find a quite spot and really think on it.

when your account is so large that a 5 percent return per month is more money than most yearly salaries then the throne is visible. problem is most people refuse to believe its really possible that they are worthy enough to sit on it.

lets step back though and think about what i just said.

i just said "when your account is so large"

those that can fund that size account from the start always lose it or at least part of it before fear drives them out of the game. does anyone really believe it could possibly be that easy? hey cousin joe loan me a million bucks and i will double it this month. i have many emails sent to me from people all over the world that have done just that and literally tell me that if they cant find a way to get it back they would rather kill themselves. my stomach flips when i get them. i would say i get half a dozen a year like that. now lets look at the situation most of you find yourselves in including me many years ago.

those that cant fund a large account from the start always lose it because they overtrade trying to get the large account.

think about what i just said. read both of them again.

i just said no one makes it and i just told all of you why.

i think 5 out of 100 is a stretch.

i think 5 out of 1000 is more accurate.

but dont let that discourage you.

why?

because the 5 didnt do anything that the other 995 couldnt do.

they were not lucky or smarter.

without exception they simply used common sense and in every case found a simple method THAT ALLOWS THEM TO TRADE SIDEWAYS MARKET ACTION AT BREAKEVEN OR BETTER.

NO ONE HAS EVER MADE IT IN THIS BUSINESS WITHOUT SOME RELIABLE METHOD OF TRADING CONSOLIDATION AT EITHER BREAKEVEN OR BETTER.

why has this material been so helpful to so many new treders for so many years?

because when they get good at it they can stay in the game in those times of consolidation which is what most markets spend most of there time doing.

what we do and teach here gives new and struggling traders the best chance at success i know of.

thats not my ego speaking.

thats almost 30 years of experience and more grief than any of you have or ever will experience in this business.

so what do we have here? when you get good at it you have..

1. a simple method that allows you to make money in a sideways market.
2. a simple method that allows you to catch the runners when they happen and if you guessed wrong breakeven at worst.

when you have a large account combined with common sense and this material you can walk up with confidencer and sit down on that throne.

those of you with small accounts must force yourselves to be patient with that future goal and possibility in mind.

i cant help you with that. i have tried every combination of words possible to try and convey that last sentence to you in a way that makes it happen.

words wont do it.

you simply will or you wont.

its a solitary one lane road.

funny thing is the road is not hidden.

its like the belief that people dont feel worthy to sit on the throne i spoke of.

some people fear or dont feel worthy to walk the road.

for those of you at that stage all i can say is i understand where you are.

ive been there.

i wish i could carry you but i cant.

its up to you.

................................... ................................... .........................

im enjoying the mountains very much and me being me ive been doing a lot of introspective work.

some of it may have just come out.

jim

Link. http://www.forexfactory.com/showthre...19#post2876419

A great post from a wise man....

AUD/USD..........

6 times back to this level on the weekly. Will it finally breakthrough??

I like this level. A weekly PPZ and first time back since PBT+CB at the end of April. I'm in with solid PA either way.

Hello Sir Aslam,
that pinbar is relatively small and is heading straight to traffic (your small upward channel).
another issue is lack of liquidity because today is July 4 (US Independence day)
so take note of these if you are going to trade it.


"Happy 4th" to our fellow US traders


btw, while our American friends celebrate, watch the Liborgate/Lie-borgate scandal testimony LIVE on bloomberg.com

AUD/USD.
Nice chart! I'm long
http://img835.imageshack.us/img835/7696/catsnq.jpg
Uploaded with ImageShack.us

CERN conference about Higgs-Boson particle was more interesting then this clown show

+1 for Science