Oki Jim thanks!
Got to go for now
getting close to that 1st target . .
later guys,
Jim
Indicators show the past. Price Action "Indicates" the future.
james16 Chart Thread
- #117,561
- Sep 6, 2012 4:02am Sep 6, 2012 4:02am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Got to go for now
getting close to that 1st target . .
later guys,
Jim
- #117,564
- Sep 6, 2012 6:55am Sep 6, 2012 6:55am
- Joined May 2010 | Status: HCR-LCS SFP | 6,026 Posts
I would like to have seen this type a set up at a Swing High . .chart.
Where it is now is why I like to see it break and Close Above . .but there's some nice Space on both sides of this Swing Low Consolidation . .I'm not ruling out the potential of a break lower.
Yes, price appears to be going sideways.
Still waiting for them to come to the new apartment and setup the Internet connection.
- #117,569
- Sep 6, 2012 8:25am Sep 6, 2012 8:25am
- | Commercial User | Joined Aug 2006 | 12,004 Posts
hey guys
looking at this one on the eurjpy.. Coming up to a nice looking spot (orange box) with the added trend line as well... let us know what you think
josh
Best
Mike
- #117,570
- Sep 6, 2012 8:31am Sep 6, 2012 8:31am
Hi guys,
Here are few setup I am currently watching.
1. GBPUSD
Has it already been discussed here?? I doubt I would have drawn this setup by myself... or other charts posted by advanced members have feed my imagination
- Wedge, price squeezing (am I right,Mike?)
- PBTCA minor swing high AND RN 1.59.
- BUOB
Waiting for the current candle to close above 1.59 and the top TL, and to break the BUOB (best would be today's candle, I could wait for tomorrow's...)
Target: 1.6
Alternative scenario: no break of the TL, instead the 1.588 HCR is broken down again -> consider shorting after bottom TL break AND 1.59 confirmed as a support.
2. GBPAUD.
I don't feel very comfortable with that one, as it is more a trend continuation rather than picking up some swing point, but I'll give it a shot.
1.555 is a recent minor HCR. Broken yesterday.
If today close above (Jarroo's Daily candle confirmation, if I am right??), I might consider entering long. FTA: 1.568.
3. AUDUSD.
Price is pausing at a previous HCR that has become support (LCS), and which also is a RN 1.02. Confluence with 365EMA and 38 Fib retracement (just for the fun of adding a layer of confluence...).
If today's candle closes as a BUOB breaking 1.022 minor HCR, I would enter long (FTA: 1.288)
4. CHFJPY
As already discussed, if CA the top of current ranging box / HCR at 82.36, then long (FTA: 83.2)
Here are few setup I am currently watching.
1. GBPUSD
Has it already been discussed here?? I doubt I would have drawn this setup by myself... or other charts posted by advanced members have feed my imagination
- Wedge, price squeezing (am I right,Mike?)
- PBTCA minor swing high AND RN 1.59.
- BUOB
Waiting for the current candle to close above 1.59 and the top TL, and to break the BUOB (best would be today's candle, I could wait for tomorrow's...)
Target: 1.6
Alternative scenario: no break of the TL, instead the 1.588 HCR is broken down again -> consider shorting after bottom TL break AND 1.59 confirmed as a support.
2. GBPAUD.
I don't feel very comfortable with that one, as it is more a trend continuation rather than picking up some swing point, but I'll give it a shot.
1.555 is a recent minor HCR. Broken yesterday.
If today close above (Jarroo's Daily candle confirmation, if I am right??), I might consider entering long. FTA: 1.568.
3. AUDUSD.
Price is pausing at a previous HCR that has become support (LCS), and which also is a RN 1.02. Confluence with 365EMA and 38 Fib retracement (just for the fun of adding a layer of confluence...).
If today's candle closes as a BUOB breaking 1.022 minor HCR, I would enter long (FTA: 1.288)
4. CHFJPY
As already discussed, if CA the top of current ranging box / HCR at 82.36, then long (FTA: 83.2)
Slow & steady
- #117,571
- Sep 6, 2012 8:33am Sep 6, 2012 8:33am
next...
5. EURSEK.
if closes now, as a pinbar (one can dream...), would enter short (8.55 RN + 38.2 Fib ret + minor LCS just gently touched).
6. USDTRY
A bit too much in traffic for me, but I'll give it a shot.
Bearish pinbar formed yesterday off HCR tested now for the 5th time.
Pending sell stop when pinbar broken.
FTA at RN 1.81.
7. Gold:
either PBTCA 1715 HCR (and H4 close confirmation tomorrow) -> long with small SL
or today's candle close as a pinbar off 1700 RN and touching HCR -> short on break, FTA 1680.
Or none of these. Then I'll wait
8. NZDSGD
Long position already taken.
Swing low, LCS at RN 0.99. Price boxing.
Price didn't close below the 04 sept. Waited for daily close confirmation the 05/09, and entered long, target 0.999 and 1.01.
8. AUDCAD
Position take yesterday, currently in red.
Swing Low.
No RN - warning 1
HCR but I guess I selected it... - warning 2
Pinbar. but small one - warning 3
Entry on the break of the PB.
Letting it run just to fill my brain with "PLAN THE TRADE AND TRADE THE PLAN".
I obviously wanted to make this one work...
Any remark would be of great help
5. EURSEK.
if closes now, as a pinbar (one can dream...), would enter short (8.55 RN + 38.2 Fib ret + minor LCS just gently touched).
6. USDTRY
A bit too much in traffic for me, but I'll give it a shot.
Bearish pinbar formed yesterday off HCR tested now for the 5th time.
Pending sell stop when pinbar broken.
FTA at RN 1.81.
7. Gold:
either PBTCA 1715 HCR (and H4 close confirmation tomorrow) -> long with small SL
or today's candle close as a pinbar off 1700 RN and touching HCR -> short on break, FTA 1680.
Or none of these. Then I'll wait
8. NZDSGD
Long position already taken.
Swing low, LCS at RN 0.99. Price boxing.
Price didn't close below the 04 sept. Waited for daily close confirmation the 05/09, and entered long, target 0.999 and 1.01.
8. AUDCAD
Position take yesterday, currently in red.
Swing Low.
No RN - warning 1
HCR but I guess I selected it... - warning 2
Pinbar. but small one - warning 3
Entry on the break of the PB.
Letting it run just to fill my brain with "PLAN THE TRADE AND TRADE THE PLAN".
I obviously wanted to make this one work...
Any remark would be of great help
Slow & steady
- #117,573
- Sep 6, 2012 9:15am Sep 6, 2012 9:15am
Hi,
I am new to forex and recently joined ff.
As a trader though I have traded equities/commodities market over more then few years but my journey has been no different then a average starter in this business. Lots of oops, ooh..burnt a/c
But, finally it looks now that this wonderful thread can help me get out of the troubled waters that otherwise I had myself immersed into. I have gone through complete first post and all the links and materials from it. It has gr8 value and above all with simplicity.
Gr8tly appreciate all the J16 members/contributors for keeping this thread live over so many years. This was the reason that I peeped into this thread. for something to be live over years and test the volatility of time has to be precious and so it is. I Enjoyed the posts.
James, I really feel the words like 'Thank You' to be far less or insignificant to the value, content, direction and guidance that you had put forth for us newbies in this thread. Still would say a 'BIG THANK YOU'. Short of words to appreciate your work and hard work that you shared with us. I extend this same to all the senior members of J16 that had helped newbies like me to reach goals through the work done in this thread.
I have started the Demoing of this and sorry but just stuck with the first basic/silly question ( not sure if answered already in this huge forum)... since forex is 24x7, at what time of the day should the daily candle be considered as closed. My broker ( oanda fx practice ) closes daily candles at about 00:30 (EST) newyork midnight. Is that a good reference point to analyze my daily candles?
What if according to my timezone i want to analyze this candles by say 4 PM EST, is that OK ?
Please help
Thanks,
Ritesh
I am new to forex and recently joined ff.
As a trader though I have traded equities/commodities market over more then few years but my journey has been no different then a average starter in this business. Lots of oops, ooh..burnt a/c
But, finally it looks now that this wonderful thread can help me get out of the troubled waters that otherwise I had myself immersed into. I have gone through complete first post and all the links and materials from it. It has gr8 value and above all with simplicity.
Gr8tly appreciate all the J16 members/contributors for keeping this thread live over so many years. This was the reason that I peeped into this thread. for something to be live over years and test the volatility of time has to be precious and so it is. I Enjoyed the posts.
James, I really feel the words like 'Thank You' to be far less or insignificant to the value, content, direction and guidance that you had put forth for us newbies in this thread. Still would say a 'BIG THANK YOU'. Short of words to appreciate your work and hard work that you shared with us. I extend this same to all the senior members of J16 that had helped newbies like me to reach goals through the work done in this thread.
I have started the Demoing of this and sorry but just stuck with the first basic/silly question ( not sure if answered already in this huge forum)... since forex is 24x7, at what time of the day should the daily candle be considered as closed. My broker ( oanda fx practice ) closes daily candles at about 00:30 (EST) newyork midnight. Is that a good reference point to analyze my daily candles?
What if according to my timezone i want to analyze this candles by say 4 PM EST, is that OK ?
Please help
Thanks,
Ritesh
Success is 1 % intelligence and 99% perseverance - Edison
- #117,575
- Sep 6, 2012 9:22am Sep 6, 2012 9:22am
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
I joined you at 1.5881. SL already at BE. Pretty conservatice with my SL. But as I said this trade has some downsides for me.
- #117,580
- Sep 6, 2012 10:00am Sep 6, 2012 10:00am
Hi,
I am new to forex and recently joined ff.
As a trader though I have traded equities/commodities market over more then few years but my journey has been no different then a average starter in this business. Lots of oops, ooh..burnt a/c
But, finally it looks now that this wonderful thread can help me get out of the troubled waters that otherwise I had myself immersed into. I have gone through complete first post and all the links and materials from it. It has gr8 value and above all with simplicity.
Gr8tly appreciate all the J16 members/contributors...
welcome to the James16 thread. Your post reminds me of my own journey and my stumbling over this thread. You may in fact look back in a few months or maybe years and praise the day you found this thread. It may not only change your trading but your whole life, too.
As for your question a New York close is advantageous and gives the daily close more significance. Whether that is important to you depends on your trading style (e.g. intraday or longer term) and your strategy. J16 setups seem to work throughout all TFs as far as I know. Whereas Jarroo puts more emphasis on the daily closes. The more advanced traders in here can probably give you a more detailed answer on that...
I wish you all the best and hope to see you around.
Best
Hans
Thanks J16, Sam Seiden, Udine and Jacko