james16 Chart Thread

Quoting LamerTrader

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Just entered PF! Thank you guys!

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Quoting mbqb11

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Thank Steve Yes a BUOB needs to have a low lower than the previous bars low a high higher than the previous bars high and a close near the upper portion of the bar. I prefer a stronger close above the previous bar high much like the DBLHC. Here is a DBHLC I am currently in(yes been quite active in stocks). Classic j16 stuff on this one {image}

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Quoting mbqb11

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Thank Steve Yes a BUOB needs to have a low lower than the previous bars low a high higher than the previous bars high and a close near the upper portion of the bar. I prefer a stronger close above the previous bar high much like the DBLHC. Here is a DBHLC I am currently in(yes been quite active in stocks). Classic j16 stuff on this one {image}

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Quoting equivestor12

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Glad I asked. thank's Mike and pin. So Technically this isn't a buob because it does not break the high of the previous bar, right? A lot of times I see bars workout that break the high of the previous bar but close within its ranger and above its close. I wasn't aware we accepted these as buob's. I think nison teaches it like this also.

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Quoting patapouer

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Interesting... So you would enter on the break of the PA and the TL? I had in mind a close below the TL in this case would have given more weight... no PA on PB either? In short, you consider a bearish PA that, when broken, will also break an ascending TL, as a classic pattern BO... makes sense... guess sometimes I overcomplicate simple things... I really have to work on that stuff...

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Quoting mbqb11

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Hmm I think I might be misunderstanding. Are you asking if the bar that is marked isn't a buob cause it doesn't have a higher higher than the previous bar? It looks like on that feed it may have just missed. On my feed it is a buob. Let me know if I misunderstood though Mike

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Quoting mbqb11

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here was a breakout trade I just closed BEOB on breakout of a nice clean wedge Moved my stop aboev the pullback area when I was in about half bar drawndown. Respected this area as we might expect(also good for a retrace entry for those that like that) {image}

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Quoting markf45

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Mike, I love your style

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Quoting mbqb11

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Hey P In this case I really don't consider it a breakout trade. Rather more so the SIZE of teh DBHLC , also engulfing the previous range and this bar is WAY bigger than just about any bars on this chart for a few years. Then as price breaks and triggers our DBHLC it's ALSO breaking the TL as added confluence. So that part of it is a breakout in a sense. Then I use that TL to help me manage the trade. I got my stops reduced above the next bar , then above this weeks. It's quite a simple trade in my book in this case. I like to keep it fairly simple...

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Quoting mbqb11

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Thanks Mark It's just keeping it simple, find great locations, wait for great stories, wait for great bars The single hardest part? WAITING. Here is another chart I will watch and wait patiently Mike {image}

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Quoting patapouer

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hi Mike it sure does! I 'll have to remove a few lines from my charts to keep things clean and simple.... thanks !!

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Quoting markf45

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I hear that! Here's one I took earlier. Not a problem if one takes calculated risk when trading into trouble areas and pivot zones. {image}

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Quoting mbqb11

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nice mark! Notice the left eye holds on the retrace. This is VERY important and useful information. Some like to touch trade that left eye with a tight stop. But we can then reduce a lot of our risk quick and look for a hard break like you got. Well done Mike

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Quoting markf45

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Thanks! Thought it might retrace a bit more coming off that 1h pivot zone but never happened.. Love these Friday opportunities when they come along.. {image}

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Quoting nwo-trader

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Smallish 4hr pin off of resistance and 365 ma. {image}

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