james16 Chart Thread

Quoting PhAnTi'

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well usd sell off late friday didnt change the overall picture for aussie. Still in upstream to gap level and prev. highs. I will add short at 8850, stops at 8915. I have 8405/8315 in the cards before christmas, if 8875-8900 holds. Some aussie fundies on tuesday, expecting a stronger us dollar again next week. Lets c, {image} {image}

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Quoting doerpn

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{quote} Hi Winston, how will you trade this huge bearish candle in GBPCHF? I don`t think you are entering long at the top of it. You treat it as a touch trade? Long at sunday open with SL 1.49XX? Nice weekend

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Quoting mbqb11

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{quote} we can see price closing now as a buob over the major PPZ and box area now {image}

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Quoting Winston Reed

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Pending sells at break below the BEOEB or if price retraces to those bar lows above. {image}

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Quoting mbqb11

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will be watching this beautiful support area. Just give me some juicy PA {image}

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Quoting Winston Reed

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{quote} Gaps occurring over the weekend are not technically gaps. Currency transactions continue to occur through-out the weekend between big money such as businesses, banks and even countries. This may or may not lead to a large enough price fluctuation or difference to occur over the weekend so that the opening price on Sunday afternoon is different than Friday's closing price. Never the less traders treat these weekend price differences like gaps and thus they behave similarly. If you have a stop loss in place and price gaps it will almost always...

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Quoting srt

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{quote} Trading with options actually carries much less risk & requires much less capital than trading the underlying stock/future/forex. The biggest risk in options trading is selling naked puts or calls. Buying calls or puts only risks the amount of the purchase. You're never required to purchase the underlying if you only buy calls or puts.

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Quoting gasgas

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{quote} Yo Mike You looking to go long with the trend at that level or any way ? Short has nice space but would be in battle with a trend

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Quoting Winston Reed

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While the weekly trend overall has been to the downside one can see that while down-trending there have been huge retracements. Their is a potential for such a retracement even now. {image} You can see the boxing occurring here. The PPZ is poorly defined although a big gnarly bullish PA bar to the upside might be a consideration. To the downside there is not enough space to the left and any trade south is going to encounter some traffic. Trading J16 has taught me to trade in the direction of least resistance regardless of the trend. If the trade...

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Quoting Elena MS

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{image} EURCAD.In case of level breakdown there will be a high probability of the further descending of the pair

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Quoting prasad99

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{quote} Mike This is a very good PPZ on one hour chart. Though it is may be risky to trade a breakout on this chart (because of LTF )--- dont you think taking a breakout trade on a Daily or Weekly in this case may turn out to be a profitable because you need only one or two bars in case of Daily to make a decent profit...provided we move the BE to stop loss after the breakout. My question is ...is it ok to take a touch trade when the price breaks a major PPZ as opposed to a smaller one. What are the risks involved with this kind of touch trade??...

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