james16 Chart Thread

Quoting ghous

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That is a great question Dervel!
So given that I am not fully equipped to handle your question Dervel, as I don't trade both strategies, I am going to give it a shot anyways... ************------------************

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Quoting ghous

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hey J, I use the term implicit divergence to spot trend weakness directly from the chart. Price seems to be headed in the direction of the current movement but gets consistently beaten by prior bar lows (in case of a downtrend and bullish implicit divergence) and highs (in case of an uptrend and bearish implicit divergence). It simply translates into the possibility of the current move loosing steam. Also just like with our regular divergence it only means a significant bit to me at critical locations, such as when price is moving into a long term...

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Quoting dervel

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Thank you very much for the response.I also read the post in your blog, quite helpfull! At the first chart I get why you wouldn't be eager to go short (even though price did actually make it to the FTA) The second chart though is where my concerns lie.A week ago when I had no idea about SFP I would be looking signatures to go long.Now I would also see the SFP and would have no idea what to do...

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Quoting ghous

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We can now go back to Gold and see how price is implicitly diverging there. g. {image}

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Quoting Red1324

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Isn't this a risky trade due to it being counter trend?

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Quoting ghous

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hey J, I use the term implicit divergence to spot trend weakness directly from the chart. Price seems to be headed in the direction of the current movement but gets consistently beaten by prior bar lows (in case of a downtrend and bullish implicit divergence) and highs (in case of an uptrend and bearish implicit divergence). It simply translates into the possibility of the current move loosing steam. Also just like with our regular divergence it only means a significant bit to me at critical locations, such as when price is moving into a long term...

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Quoting pip_la

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Decent pin bar on Gold. Off support and BRN I've never traded gold before, might make this my first. {image}

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Quoting Donkey

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yo mike. how goes it - had a magic hat #9 at dinner last night and thought of my favorite trader/teacher/NYYankee fan. I looked at the EURUSD closely but passed mostly due to the BRN. I thought EURCAD looked like a better story to me, with the test of the BRN and the huge BUOB engulfing the large range. I put in a a market order with a hard TP near the BEOB, previous bar lows. Interested in your opinion on this pair. {image}

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Quoting Microtrader_

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Hey Guys, So far this Gold pinbar was gold, it did its job and now I am in approximately 1RR winning but I am not sure how to continue. Do you think this pin will be able to turn the whole downtrend to rising direction until the strong 1600$ BRN level or even beyond that and break the trendline? {image}

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Quoting mbqb11

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Hey D Basically to me both were very similar trades and would move similar. Obviously the eur/cad REALLY popped off. I liked the euro usd better in terms of larger story/confluence Based off this chart I have been posting for weeks Just some basic easy to spot james16 on these well done D. No need to kill ourselves and over complicate things. Just nice big bars at solid locations will do it Mike {image} {image}

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Quoting mbqb11

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Nice Micro I don't know if I would get too carried away but as long as you protect yourself. Notice the left eye held on this one and that was crucial to maintaining the structure of this trade Well done Mike

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Quoting mbqb11

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and todays updated chart If you are killing yourself out there with 50 trades a month, try searching for a handful of these a month(like the eur/cad D posted too). You won't look back many of you {image}

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Quoting Microtrader_

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Thanks Mike, An "inside pinbar" was just formed on H1 as a confirmation of breaking through thelevel at 1565$, so I am planning to follow the trend at this moment. Guys, anybody, don't hesitate to comment if you disagree! {image}

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Quoting yaki

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good gob, What is your next target?

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Quoting Microtrader_

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The level directly under 1600$. After that IMO the price should break the down-trendline to continue rising. I think it is not impossible but I will highly consider closing the trade if it reaches the mentioned level anyway. We are different, trend following is very stressful for me and when I am full of stress I can make mistakes much more easily. However somebody would say the opposite version, trend following is easy and mechanic.

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Quoting nc_trader

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I'm Short on AUD/NZD In last weeks we have a strong bearish trend. Today price breaks an importante suport level, and formed a bearish engufling bar, and also a fakey setup! And in yesterday we can see a inside bar that is a nice signal that the bearish trend will continue. {image}

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Quoting yaki

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James 16 will asked- where the price is going? And if I'm not mistaken the next target will be around 1578.76

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Quoting Microtrader_

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The level directly under 1600$. After that IMO the price should break the down-trendline to continue rising. I think it is not impossible but I will highly consider closing the trade if it reaches the mentioned level anyway. We are different, trend following is very stressful for me and when I am full of stress I can make mistakes much more easily. However somebody would say the opposite version, trend following is easy and mechanic.

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Quoting ghous

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Dont worry D, Jarroo trades both methods so I am sure he has this sorted out. Lets wait for him to jump in... g.

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Quoting Flamegs23

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I have a trade pending on the GBP/USD. A pin bar formed on the monthly. Your thoughts are very welcomed. {image}

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