OK lets see if we can break this trouble area now or mabey tomorow. Free trade 
james16 Chart Thread
- #132,082
- Sep 3, 2014 10:08am Sep 3, 2014 10:08am
USDJPY - A little late in entry , but BE for now.. {image} Update : EURNZD - Locked enough profit...{image}
Market can stay irrational longer than you can stay solvent.
- #132,084
- Sep 3, 2014 10:23am Sep 3, 2014 10:23am
- | Joined Feb 2011 | Status: Aspiring J16 trader | 343 Posts
{quote} Hey mate, No problem, will keep posting. I usually dont post up my trades anymore since most of my posts go unnoticed but if there are even a few people who benefit from them I will happily continue. Keep in mind that its taken me 5-6 years to get to this stage, even though the charts look so simple .. which they are
No post goes unnoticed and I think you underestimate the amout of lurkers we've got here (myself included).
Your charts look very simple and your pickyness is well observable through 'em.
Keep up the good work!
Donaciello.
It's a sport, an artform and a science.
- #132,086
- Sep 3, 2014 11:29am Sep 3, 2014 11:29am
{quote} Update
I closed a long trade in this pair which I started on 20 august....without SL....still much to learn....
.Keep on posting, this is where we can learn from. Thanks a lot.
Have a nice day
- #132,087
- Sep 3, 2014 11:30am Sep 3, 2014 11:30am
{quote} Update
hehe
been away for quite a while... focusing on the life outside of the markets and threads. Two young girls = a tight schedule
Never stopped thinking about the markets though.
I entered this trade based on S/R analysis, I didn't see the bottom TL.
Entry below the W1 levels by 1.78, SL hidden above the W1 levels by 1.7870. TPs based on S/R as well (expect TP2, based on RR only...)
Third position is now in play, free trade. I have a target by 1.7450. Will reassess this target depending on price movement.
Edit: low position sizing on this one (3 pos 0.25% each), which eases the trade management as well
A few charts to depict this reasonning.
Take care
Slow & steady
- #132,088
- Sep 3, 2014 11:35am Sep 3, 2014 11:35am
{quote} I took UJ but I avoided posting about the it as I didn't want to confuse new people. Since we're talking about it, let me show you my reasoning. As Zamfir stated, location and story is the key. In my opinion, more important than the pinbar signal. To me, it is just my entry signal. If you are looking for a holy grail, that is as close as you'll get: location and story. My thought process is to zoom way out or go up one TF to determine the market context. Lets go up one TF to the weekly: {image} Now I have a key level marked. I wait for price...
you are awesome....enjoy your holidays.
Have a nice day
- #132,089
- Sep 3, 2014 12:08pm Sep 3, 2014 12:08pm
I'm currently watching CAD/JPY as it approaches a strong resistance at 97.00. Confluence of channel boundary and weekly TL + BRN... Hope to find some good trading opportunities there. What do you guys think? {image}
I`m long
. Look at my screen to read the story as I think. There is a monthly down Trendline already broken. I oppened 1 position. If price returns to RN 96 and this turns to be resist, I will open another position as there is much space up to the next trouble area- my opinion.Any comment is appreciated.
Have a nice day
- #132,090
- Sep 3, 2014 12:35pm Sep 3, 2014 12:35pm
OK lets see if we can break this trouble area now or mabey tomorow. Free trade
sorry but its not a good place to trade this PB I think...its in the middle of a box.....
Have a nice day
{quote} Hi yawla, I`m long
Here's how I see it on monthly and weekly charts.
Monthly:
Weekly:
Keep in mind, though, that I'm a newbie and I might be talking nonsense.
I'd be grateful if one of the more experienced users would comment on my charts.
- #132,095
- Sep 3, 2014 4:39pm Sep 3, 2014 4:39pm
- | Joined May 2010 | Status: Trader | 1,100 Posts
{quote} Update
Take care
Dan
- #132,099
- Edited 1:32pm Sep 4, 2014 5:25am | Edited 1:32pm
I'm looking to this bearish pin bar on GBP/AUD at a key resistance level, and a nice mid-term bearish trend. {image} image upload no limit
The target price according to Bulkowski is a bit less of 50% of the "cup" depth, and the classical price target is about 100% of it.
The classical psycology behind it that institutional traders release a sell-off to make prices decrease and then buy those assets back at low prices from the domestic agents they selled them before at higher prices. This makes prices go up slowly on the second half of the pattern formation. In order to not to cause a quick rally the bullish impulse must be slow so that the market agents do not realize about the trick of selling high and repurchasing low.
It usually is completed with a short horizontal channel formation and then prices might go up if the volume of orders is high enough.
At the end the formation seems like a cup of tea.
The picture:
