james16 Chart Thread

I'm with you :-)
See who can endure the most pain?

My Jan. 28 post:
http://www.forexfactory.com/showthre...46#post7244046

I wrote about precious metals ten days ago. Shortly thereafter, price did exactly what I predicted. I wish that I had rode the whole ten-day decline! Instead, I waited for confirmation and I just took a small bite.

http://www.forexfactory.com/showthre...04#post7354104


I also believe that we are in the midst of a precious metals super-cycle and near the end of a long-correction. We should see, at minimum, a triple-bottom. But I also believe that there is a 50/50 chance of seeing new lows down to at least $16.00 for silver before the correction ends.

Historically, there is a high probability of about a 50% gain in gold within six months after the end of such a long and strong correction. My guess is that silver would show even greater volatility.

This was pretty cool/funny watching corn bounce off my pre-drawn support line this morning, huge 5m BUOB, and BUOB on most timeframes.
I am cornholio, I need TP for my...... account lol

thanks Mike,
I kicked myself all weekend for the mistakes.
but I guess it happens. the good news is I have an opportunity to not repeat it.

rgds,
Dinta

Don't beat yourself up too bad Dinta. Really it all has to happen otherwise the mistakes will come eventually and blindside you. It's great that you had such a good month but you realize their are ways to improve your BUSINESS. That's key and as long as you keep openly evaluating yourself and working on the issues at hand you will continue to improve.

The mistakes never fully go away. We are human after all. But slowly you will be able to minimize them and specifically minimize the BAD ones. Those ones that will ruin an entire month, or set you off mentally for the next trade etc

Keep up the great work

Mike

for those who want to play bearish engulfing outside bars. Heres a monthly one

Good morning friends
Over the past month thanks to you all, I added to your account 15%. I am very grateful to you all
Here's another deal in which am and where I'm waiting for another.
Sorry for my english. Google translator

Best,
J

Thought this was a decent pinbar, good location, S/R flip, downtrend, 150ma, not a tonne of open space but it's starting to move a bit now.

Another trade entered Sunday night, EJ Daily BUOB at BRN in uptrend, running up further today.

Referring to the BEOB in the chart in post 130,407, this raises a question that I have been wondering about for awhile. Perhaps one of the senior members could answer this question. Here is the chart:

http://www.forexfactory.com/showthre...15#post7375315

How does the concept of space apply to BEOBs and BUOBs? If so, does the concept of space apply to those bars to the same extent as PBs?

This eur/try bar is a perfect example: a monthly BEOB in a swing-high position, but with no space to the left of the bar (or, more accurately, to the left of the two-bar configuration). What weight, if any, should be given to the complete lack of space?

Anyone else took this bounce from 0,8700 on NU?

Pretty good looking hammer on EURNZD from 1.5800 historical demand area.

Good potential on AUDCAD, pinbars on weekly and daily from 1.0300. If the price breaks the low on H4, I think it could be a good move south.

lot of pairs are boxing or consolidating. Won't be long before the markets "break" again.

Stay patient though

Look at this picture perfect boxing on aud/nzd

Midpoint of a box is almost ALWAYS a PPZ as well. I just wait till the tops and bottoms of these boxes most time. Prime areas for PA

just wondering what is the meaning of "Midpoint of a box is almost ALWAYS a PPZ" ? should we long or short?

Hey Marsh

This is something I found long ago when examining boxes that James teaches. A box is just a period of consolidation. We have the top and bottom being the "boundaries of our box". but the midpoint acts as a point of agreement of price. It's sort of the battle line b/w buyers and sellers within this consolidation. This creates a "flip" or a PPZ. It's quite amazing how it nearly ALWAYS happens.

In terms of how to use this area, I actually prefer not to trade near the midpoint. This area since it is within consolidation can be tricky as it's a battle ground b/w buyers and sellers and it gets tested more. I prefer to use this area for trade mgmt more so. I like to mark it off so those of you can see the way price reacts.

Also note how mini "boxes" make up the bigger box

Go back over your chart. Mark a box, and watch how price reacts at the tops/bottoms/midpoint You'll be amazed. See if you can mark the last big one on this chart.

Best
Mike

made 67 pips target hit tonight.

did you lock in some? dont get greedy, 60 pips within hours on kiwi is a good result, believe me

J

eurjpy at major supply. Good for cheap shorts here with stops above top. If conference provides euro shorts tomorrow this will be a runner runner



J