meine augen sind die sterne
james16 Chart Thread
- #130,601
- Apr 17, 2014 3:49pm Apr 17, 2014 3:49pm
- Joined Feb 2009 | Status: kiki soso largyalo | 2,243 Posts
- #130,604
- Apr 17, 2014 11:09pm Apr 17, 2014 11:09pm
- | Commercial User | Joined Aug 2006 | 12,004 Posts
Have been away from the forum for a month, been struggling a bit. Thought some time alone would help - it didn't! Although March didn't suck too bad, I only took four trades - 2 BE's. one 13pips profit and one 49 loss. Riding low this month, but not worrying too much. The important thing is that I'm still at itI'll get there. Glad to come back in time to catch Mike's video on boxes and exits - fantastic stuff. Thank you Mike, really got some light bulbs flashing. Outstanding for you to take the time to do this stuff. Something has started to...
Good to see you and thanks for the nice comments I'm glad it is helpful in some way.
For me gbp/usd might be considered a very minor break of resistance. For me and funny enough this is something I spoke about in my last webinar(not the one posted). That the way I use terminology like a break of a zone, vs a break of a breakout pattern is VERY different. I do this to be picky so that I understand the situation better(from my style that is). For gbp/usd price never formed a pattern. It just found resistance within the larger consolidation(channel). So trading a break long is simply trading a minor pinbar in traffic into the last minor selling point. Now the problem I have with that isn't that price can't go higher. In fact I believe it probably would. It's that their is a lot of uncertainty that exists in this arae. Nothing major is occuring it's sort of price just dilly dallying a long. Then it becomes HOW will price get to where I want it to go. That's MORE important than price getting to where I want it to go eventually. Does that make sense? That's hugely important. These minor type areas often even when they get to where you want them can be a struggle in itself and that's why I avoid them.
Hope this helps and makes sense
Mike
- #130,605
- Apr 18, 2014 1:43am Apr 18, 2014 1:43am
- | Joined May 2010 | Status: Trader | 1,100 Posts
Have been away from the forum for a month, been struggling a bit. Thought some time alone would help - it didn't! Although March didn't suck too bad, I only took four trades - 2 BE's. one 13pips profit and one 49 loss. Riding low this month, but not worrying too much. The important thing is that I'm still at it
Hey Berserker,
I know exactly how you feel. I had to take several breaks from this forum and trading when things were not going so well. The thing I noticed is that every time I did come back I got better. And yes your correct the important thing is your still at it !
Take care
Dan
- #130,606
- Apr 18, 2014 1:51am Apr 18, 2014 1:51am
- | Joined May 2010 | Status: Trader | 1,100 Posts
{quote} how are you buddy
Things are really good mate. My trading has come ALONG way since I started. I have not had a loosing month since September 2013 !!
The one thing ive noticed is that the j16 method becomes simpler the more I trade. As in I feel like im doing less and less for the better results ...
I will need to right a full response to some of the PM's ive had in the thread about my 'journey'. Just need to find time to word it right.
Take care
Dan
- #130,615
- Apr 19, 2014 9:50am Apr 19, 2014 9:50am
- Joined Nov 2012 | Status: Trader | 1,449 Posts
Hey Half and Almost I figured I would sort of answer you both together as well as upload a recent webinar of mine too. {quote} Well all kinds of setups happen and then you have periods when certain types don't. For example when price ranges as heavily as it has recently more likely I'll end up taking breakout type trades by the nature of the markets. Then when the markets break out and start swinging your chances of finding good swing type trades as you asked will appear. The market just goes through these cycles as well as individual pairs/securities...
i watched your video. and some ligthning in my head. if i found all midpoint in monthly chart. it would help my trades.
so i draw rectangles with horizontal lines that indicates midpoint of that rectangle.(arrows indicates which rectangle has which midpoint in chart) at the end of it i found 8 major levels for eur usd. (1.0187, 1.0935, 1,1538 etc.) i study price action historically and i see price respect those levels extremely.
and lastly i draw last recent box for daily chart. so i can see range of price clearly. as a result i can follow price where will be reversal or continuation partterns will occur. i am appreciate to hear your opinions and advises. (sorry about my poor english and comlicated chart it is working stage)
i did it for usd-chf too. and i realized that mid points are determined before swing lows or highs occur.
- #130,618
- Apr 19, 2014 3:23pm Apr 19, 2014 3:23pm
- Joined Nov 2012 | Status: Trader | 1,449 Posts
{quote} hey P could you please de-select the 'draw object as background' after you right click on the box so that it makes your chart easy for me and hopefully others to read as there are too many colors for me on the chart. Another thing about the midpoints, did you calculate them or did you draw them from boxes that occur on the monthly chart? Thanks. Al {image}
i draw rectangle from past to later days. lets do it step by step. i did all rectangles as bacgraound as you mentioned.
first rectangle coming from begining of chart. as if after days is not there yet.
first range we obtain 1.1538 midpoint first price touches works. 2nd touch works.
2nd range we obtain 1.0195 is our mid point. first price touches works.
3th range we obtain 1.0955 is our mid point. first price touches works. continuation pattern occured.
4th range we obtain 1.2139 is our mid point. first price touches works. 2nd touch works.
5th range we obtain 1.3844 is our mid point. multiple price touches works.
6th range we obtain 1.4170 is our mid point. multiple price touches works.
7th range we obtain 1.3528 is our mid point. multiple price touches works.
8th range we obtain 1.3732 is our mid point. multiple price touches works.
9th range we obtain nearly1.3528 is our mid point. so we didnt draw that hor. line.(note 1.3528 is more important than others because of 2 range's midpoint.)
10th range we obtain 1.3086 is our mid point. multiple price touches works.
- #130,619
- Apr 19, 2014 3:35pm Apr 19, 2014 3:35pm
- Joined Nov 2012 | Status: Trader | 1,449 Posts
{quote} dear albus. i draw rectangle from past to later days. lets do it step by step. i did all rectangles as bacgraound as you mentioned. first rectangle coming from begining of chart. as if after days is not there yet. first range we obtain 1.1538 midpoint first price touches works. 2nd touch works. {image} 2nd range we obtain 1.0195 is our mid point. first price touches works. {image} 3th range we obtain 1.0955 is our mid point. first price touches works. continuation pattern occured. {image} 4th range we obtain 1.2139 is our mid point. first...
12th range we obtain nearly1.3528 is our mid point. so we didnt draw that hor. line.(note 1.3528 is more important than others because of 3 range's midpoint.)
13th range we obtain 1.2810 is our mid point. multiple price touches works.
and recent range we obtain 1.3000 is our mid point.
- #130,620
- Apr 19, 2014 3:47pm Apr 19, 2014 3:47pm
- Joined Nov 2012 | Status: Trader | 1,449 Posts
{quote} 11th range we obtain 1.3400 is our mid point. multiple price touches works. {image} 12th range we obtain nearly1.3528 is our mid point. so we didnt draw that hor. line.(note 1.3528 is more important than others because of 3 range's midpoint.) {image} 13th range we obtain 1.2810 is our mid point. multiple price touches works. {image} and recent range we obtain 1.3000 is our mid point. {image}
) so we can delete some of them or use all of them.i delete all rec. box and change my tf to daily. i decide to use this teqhnique because of suitable S&R levels.
REMEMBER ALL HORIZONTAL LINES COMES FROM PAST. AND MARKET RESPECT THAT DIFFERENT MULTIPLE MIDPOINTS. we have all historical midpoints of this currency.
LOOK AT THIS GREAT DAILY OUTLOOK. 27 RESISTENCE OR SUPPORT TOUCH IN 280 DAYS.
AND 4H OUTLOOK
edit we escaped 1 rectangle range. that is midpoint is 1.3955
edit Daily TF too. greater
