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james16 Chart Thread
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Apr 22, 2010 10:56pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by jarroo
Why did Price drop? Because everyone thought they would rise? Who knows? lol
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The best way to look at news announcement time is as a 'vacuum' in my opinion
If the news is GBP positive, people will position their long orders at the best value price. Those orders to go long may actually ALL be placed at the major support that was BELOW where price was dawdling around just before the announcement. ...You should be able to figure the rest of the picture.
This is how I view it. Everything just works once you view it that way. ...Well more often anyway. LOL
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Apr 22, 2010 11:04pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by cpnhowdy
Hi Dan,
Just wondering why you and Mike would think this might break to the upside
as opposed to down. If we ignore that it is the dow and if we had some bearish divergence on macd for example could we expect heavy resistance at those highs and expect a downward move? Example the EURUSD had similiar bar highs at the end of November.
Thanks for the help and insight.
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Divergence isn't really a bearish/bullish signal. It's actually signifies a loss of momentum. Which is a good sign if your planning on trading it as a reversal as opposed to NO loss in momentum being there. But, you can still get a loss of momentum when price is consolidating and taking a breather before continuing on.
Just so you realise this.
Divergence is still a great sign if you want a reversal. But it's not polarising. That's why we use it here in conjunction with other signals to increase probabilities. 
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Apr 23, 2010 10:10am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by relyt
I know this is a really old quote but I'm a newb and going through this thread from the start (need all the help I can get).
When James16 says that a BEOVB usually signals a continuation of the current trend does that mean no matter what the trend is?
Or does BEOVB only signal a continuation of a down-trend and BUOVB only signal a continuation of an up-trend?
I'll ask it another way, just to be clear:
Let's say there is an up-trend and we get a BEOVB. Would that still signal a continuation of an up-trend even though it's a "bearish"OVB?
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Welcome Relyt,
You guessed right.
BUllish Outside Bar for uptrend continuation only. (And BEarish Outside Bar for downtrend only, ...of course.)
Don't just blindly take them though. You have to be careful of nearby support/resistance.
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Apr 25, 2010 11:30pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by supremeChaos
Hey Dan,
why not?
u are one of the 'sponges' here (quick learners).
i believe u will get wherever u wanna go, just keep on keeping on
the journey/destination is in your mind.
so, the limit to your journey/destination lies in your mind as well..
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LOL. Call someone a sponge in our neighbourhood and you'll end up with a fat lip. 
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Apr 26, 2010 9:31am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Daneel
My impression is that PA, SR and trends are the most important. The fib levels thing strikes me as strange, I would have guessed that any influence they have on price is the result of people expecting it to. The rest of them make sense.
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...And welcome to technical analysis. ...The dark side. 
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Apr 26, 2010 10:00am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by nasir.khan
Damn why did't i said this.lol
You Aussies (Joel the other one) always cracks me up/impress me with your choice of words.
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I think most us Aussies are just good at dribbling s___. lol
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Apr 26, 2010 8:06pm
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'Try-hard' extraordinaire...
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What happened here today!?
Were there a heap of posts deleted or something??
First time in a long time I've come back and we've been only one page along. LOL
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Apr 26, 2010 9:58pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by The Captain
So you were the guy who was saying the same thing at all of these areas?
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Hey Cap,
It's a little bit of a mine field.
It looks good for a short. Just not good for a high probability trade choice , that's all.
If that makes sense. 
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Apr 26, 2010 10:03pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by The Captain
So you were the guy who was saying the same thing at all of these areas?
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One way to illustrate the "Not Yet" feeling I have here.
This is complicating things by using a lower time frame, but it illustrates the problem with taking a short here after an ugly sideways period.
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Apr 26, 2010 10:07pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Dan Gilbert
ppl get.... "testy" when you mention trend 
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I wouldn't have said 'testy'. He made a good point on your chart.
You have to point out the difference between the ones you marked and the one the Captain did.
Remember, not everyone has been looking at charts as long as you. 
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Apr 26, 2010 10:12pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by bundyraider
I wouldn't have said 'testy'. He made a good point on your chart.
You have to point out the difference between the ones you marked and the one the Captain did.
Remember, not everyone has been looking at charts as long as you. 
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Sideways. But a little staggered too....
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Apr 26, 2010 10:21pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by The Captain
Not testy.. But if you always follow the trend, you will never catch a reversal.
Thanks Gents.
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That's true, but at the same time, reversals are the dangerous ones to "hope" for.
"He who pick bottom get smelly finger" as someone once said. lol
If you were after a reversal you need a REALLY good signal bar that shows a major change in balance between buyers and sellers. I'm sure if you look at the bar on my chart it's not screaming reversal. It's saying "Sellers came in at that top."
To play reversals you really want it to say "Sellers came in, and buyers got the hell out of their way, ....then joined them"
Hope that helps, dude. 
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Apr 27, 2010 10:20pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by raczekfx
some might have vague idea what it is... 
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Quote:
Originally Posted by Dan Gilbert
uhhhh.... yeah sure.... I know exactly what that is

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Don't say I never do anything for ya.
Here...
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Apr 28, 2010 8:16pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by ghous
Funny thing is you still don't know how to pronounce my name 
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Goose?? lol
I've known that it's Goss for a while, but everytime I read someone referring to you I read it as goose still. Habits die hard. 
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Apr 28, 2010 8:38pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by mbqb11
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LOL. I like that one.
The thing is, all of us have been in those frustrated "This isn't fair" periods while learning to trade and can see it bubbling through the posts every time they come along.
Quote:
Originally Posted by 4X=0
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Been there done that with my sister! Wow, had forgotten that memory. lol
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30 Traders Viewing This Thread (12 are members)
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oneuniverse, jarroo, jspeakman, cupofjoe, HanSolo, Auspip, Location, ghous, Bsn, lafemo, shephrd, jeurre
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