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james16 Chart Thread
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May 6, 2010 3:40pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by mbqb11
anytime the xxx/jpy are falling to their deaths rac is in, no doubt about it
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And how he links those pairs to the fortunes in equities. 
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May 6, 2010 4:10pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by mbqb11
Ryan I was well in my position before mine took off here....
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LOL.
"I'm fine if price hits up here and just stalls into tomorrow"
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May 6, 2010 4:19pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by LasVahGoose
Trading error at a Firm? Someone typed Billion instead of million. LOL. Wonder if that rumor is true...
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Or they're trying to soften the panic.
There's been a wholesale change in the markets for a couple of weeks. Bullshit it was just the operator error.
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May 6, 2010 4:26pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by jarroo
That could start the ball rolling. The market was just looking for a reason anyway.
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Already had the reason. They've just been waiting for the sheep to figure it out while they position themselves. lol
This whole shake up with greece and all. The rumours have been there for over a year of bigger trouble in europe. We're not going to return to yesterdays prices tomorrow. This drop will continue IMO. Question is how fast and how long.
Everyone's flocking to the havens again.
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May 6, 2010 8:20pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by scott087
The USD/JPY Daily and Wheat weekly trades worked out very nicely.
I believe the XOM Daily IPB failed lol. I guess my stop was a little too tight...maybe next time I'll have to use a wider stop 
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hahaha Yeah you definitely needed a wider stop!
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May 6, 2010 8:54pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by joelcf
That one is more of an effect than a cause. Just an amusing one.
But yeah, fragile is an understatement at the moment.
Do you ever sleep?!
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LOL ....Yeah. I just woke up middle of the night. Often do.
I could ask the same of you. Seen you at some weird hours too!
I switched to NYC trading hours for a month in April. That'd make it look worse. 
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May 6, 2010 10:12pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by spookie94
Is it wise to be careful trading now after a day like today? Will any PAs be A+ setups for a day or two? Plus its friday. Any suggestions?
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Careful trading against strong trends, as always. You can take any valid set up that meets your criteria otherwise.
Remember long term you are after a result over 'X' trades. That's why you only risk a small percentage on any trade.
Any possibility of a trade going against you 200000pips is just as likely to go your way that much if you trade correctly.
When things are extra volatile use wider stops and size your trades accordingly.
When you're uneasy you make mistakes. So if you're uneasy, stay out. You don't lose money when your flat the markets. Come back next week when you're less 'excited' , if you feel you are.
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May 7, 2010 11:16am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Pinbar
Jarroo. would you be kind enough to throw a pair at me for PPZ practice?
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Quote:
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Originally Posted by jarroo
Random Price Action formation is not the best way to go. PPZ levels play an important role in each setup.
And you can get even pickier.
Excellent Pinbar. 
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Like this...
(Good job pb.  )
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May 7, 2010 11:40am
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'Try-hard' extraordinaire...
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Manage my 15min G/J trade will ya fellas (and gals).
...I'm off to bed. 
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May 7, 2010 11:41am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by jarroo
Yeah something like that bundy. But that would be more of a Monthly PPZ . wow . that would be even stronger. (how did I forget the Monthlys  )
Edit: Monthly? . .that's a Yearly PPZ level. Double Doh  
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Don't care if it's monthly or whatever.
Just that that level jumps out over all the rest. More chance of 'runners' off of those. 
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May 8, 2010 7:02am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Pinbar
I am starting to notice how a good PA candle that was a clear runner on a High TF, seems to show us some good PA in the future, if we place a PPZ line on the High and Low.
What fun this is, and to think I hated drawing PPZ. I think Jarroo and Bundy may have opened a can of worms here. loL
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Good. Level found  , but you will get better results seeing the following types.... ....(chart)
The better the respect, the better the PPZ for beginning trades...
( edit: Not all pairs/markets are going to give you easy charts to work with like this at any given period of time. Out of all those you pictured in your post, this one was the easy one to trade. ...Now, like jaroo said...Add confluence to the mix and... BAM!)
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Last edited by bundyraider, May 8, 2010 7:22am
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May 8, 2010 6:58pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Dan Gilbert
whoa whoa whoa! You guys were trading yesterday?
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Me too.
There was some good range trades Friday.
Only started one and ended up just short of break even, but still perfectly valid.
In the end it was Friday-itus that made the trade unexceptional. ....Not the previous days market antics.
As Mike said, volatility is what we want. 
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May 9, 2010 12:07pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Dan Gilbert
I hope you're kidding.
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Me too.
Capitalism is not the cause. Greed or incompetence ( or both) is more like it.
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May 9, 2010 9:27pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by o990l6mh
Very nice video. Enjoyed it and I agree with it's points as well.
However, it seems that the videomaker wasn't aware of why fascists are usually placed to the far right on a political scale, that has nothing to do with the amount of power of the government. If it did, then as the video suggests they and communism are just the same.
Here's an excerpt from wikipedia ( http://en.wikipedia.org/wiki/Political_spectrum):[indent]The terms Right...
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Thanks for that info o99.
Had wondered how the left-wing/right-wing worked but for some reason hadn't thought to look it up. lol
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May 9, 2010 10:16pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by bkg102665
Not sure what you mean about a line alert. I would like for it to keep alerting until I manually cut it off. I know if I set an alert on my charts to wake me up at a certain time it keeps alerting until I stop it kind of like an alarm clock.Indicator is below.
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BK, that's the compiled indicator file . To modify it you'd need the original code.
Look for the same file name with the .mq4 extension instead of the .ex4 one. 
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May 10, 2010 10:11am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Steve0001
Agreed. But if the mq4 file is not available for some reason, the ex4 file could probably be decomplied and modified.
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Have heard that.
I'd consider modifying the original code myself, but if it needs decompiling someone else can tackle it. 
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May 10, 2010 10:18am
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'Try-hard' extraordinaire...
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Cable trade idea.
Should be a good location for a lower time frame trade.
Anyone take the daily pin??
I have to admit, I totally only just seen it 15 mins ago. LOL
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May 11, 2010 6:30am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by nasir.khan
I am busy with some crazy T20 action going on. lol
Joel do you take interest in Cricket?
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Quote:
Originally Posted by joelcf
I'm Australian - it is about all we take an interest in 
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pfffft!!!! ....Speak for yourself! It's not the only thing we take interest in.
For instance, there's beach cricket. 
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May 11, 2010 7:22am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by TGpop
why you guys bring your stop to breakeven so quickly, is truly beyond me .
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Not a major issue.
At least in sideways markets they'll survive.
It's a better way to learn than to be blowing accounts all the time. Which is what most are doing before hand.
Over time many in here move towards holding on to some trades longer as they gain confidence and chart time.
Baby steps mate. 
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May 11, 2010 8:27am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Atc
I know and have read here that "price is price and trade what you see"...
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When I take a signal on one feed, I ignore the others.
A relative move over 'x' hours is what I'm after. Where did the signal bar close compared to the last bar that represented the previous 'x' hours ...and how strong is the statement that it is making, compared to that previous bar.
Does that make sense?
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Last edited by bundyraider, May 11, 2010 9:41am
Reason: I'm a dufus.
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May 11, 2010 9:10am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by bundyraider
Silver DBHLC - Divergence and previous reversal level.
This bar is very similar in size to the previous hit up here. This time with divergence too.
Maybe green line for target? Who knows.
First trouble area very close, but I'm willing to risk my %0.5 on this one breaking past it , and willing to ride any draw down before that happens.
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One of the rare daily full bar losses I take. Some times you don't get the chance to manage your stop how you want to. ....Oh well.
Was going to show how I manage the bars with this one. lol
I guess I'll have to try it with the next daily trade. 
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May 11, 2010 9:15am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by g_j_hook@yah
i personally would love a volume indi to help my disision making but iv yet to find one that is any good for fx. i dont think you can get a reliable vol. indi for fx. shame.
jon
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Because there's no real volume information I guess.
FOr Forex, enough people nixed the idea of using volume for me when I first started. To be honest, I don't think it'd effect my results now anyway.
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May 11, 2010 9:38am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by nasir.khan
I do give the close a lot of weight in my trading decisions and this how we judge our PA bars.
But then sometimes i hear people saying that close is just nothing market is running around all the time and take a look at some "level 2 price terminal" and you'll forget about the close.
gets me confused sometimes.
P.S: Congrats on your 2,000 valuable posts. 
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Wow... Forgot about the 2000th . Was at 1997 the other day and thought I'd do something for it the next day. LOL
Close price means a lot to me. It's who won during that period of time.
In some conditions, yes the close can seem to be manipulated when you watch a level 2 screen, but even without level 2 info just look at some pins that form during illiquid times. ....Totally manipulated at times ...and obviously.
That's where location, location, location comes in to tip it back in your favour though. Trade at the right locations and the manipulators are going to have to work against a larger crowd.
You know from experience that the numbers work more in your favour when you use closing strength as a filter as well.
I know that taking trades with horrible closes will get me busted out over time. That's all I need to know to use close price to my advantage.
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May 11, 2010 9:46am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by g_j_hook@yah
btw iv enjoyed your last few posts Bundy  insightfull as always
cheers
jon
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Cheers mate. Yes, we aussies love many types of cricket. 
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May 11, 2010 9:58am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Atc
Yes thanks...appreciate it ....just been in a funk trying to follow others trades with watching my charts....still verifying which may be the better broker to open up my million dollar account(someday---I can dream can't I  )
...any suggestions?
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I know people shy away from recommending brokers, but for someone starting with their first small account I don't think you can go past Oanda. Purely because of granularity. Being able to size your trade properly is very powerful.
They also have great account management features.
Like anything to do with your wealth, don't put all your eggs in one basket. NOT EVER.
If you're putting your every worth into one broker to start trading , you're crazy. No company is 100% guaranteed to stick around. But if it's a smaller, saner part of your wealth then one broker would be ok, and you could do worse than Oanda. IBFX seems ok too, less granularity though. Both USA based.
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May 11, 2010 8:26pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by fxeturn
I guess it's because it's a counter-trend trade and support at 17.00 is expected since it's quite a strong level based on the chart. Did u take partial profit?
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That's hell good timing. Just logged in. lol
No I didn't. Was willing to ride it out.
I did see something later on though that I'm usually always on top of that would have changed my whole approach.  (...see chart)
Anyone who knows my charting style well would know I avoid that situation like the plague. lol
Against the trend doesn't bother me.
Doesn't matter. I had other trades going at the same time that did their job and I can't get it right all the time. 
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May 11, 2010 8:57pm
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'Try-hard' extraordinaire...
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Quote:
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Originally Posted by Pinbar
Ok, I will ask this question again as none seems to have clocked it, or perhaps as I directed it to Mike people refrained from answering.
I heard about two systems Jim calls, "base systems" Price crosses the 150 EMA followed by the 10 & 25 EMA and entry is on first pullback to the 10 EMA. the other system is a 6-150 EMA pullback system. Jim seems to think these two systems especially the 6-150 is a great account builder. I see people using the 365 & 150 EMA in this thread yet, I fail to see anyone using the pullback system.
Is there are reason for this or are these systems only for newbies before they learn PA?
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Quote:
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Originally Posted by jeurre
wow, how did you know these two systems? are they coming from private forum?
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Those links that Mike gave were the first time I'd ever seen Jim come even close to giving those systems out on the public side.
There's not much at all that isn't freely discussed in here, but I think the reason you don't see them mentioned anywhere in the public side is completely out of respect for James, who has said himself that he spent a long time putting them together and figuring them out for himself and didn't want them exposed outside the PF. The most you get is the ema values.
I think it's great that there is something like that he does keep private for those that commit to the PF. They aren't promoted out here at all either (they have been mentioned only a few times off-hand in thousands of pages.) , so it's not like they are used as a means to get people to fork money out. ....They are more of a 'bonus' for someone that comes accross them eventually once they join up and finds that they like them.
So unless James has changed his thoughts on that, you won't see me plant them on here. And I'm sure others feel exactly the same way.
You don't need them to make money either. So for those thinking that they're holy grail systems or something because they're kept quiet, you're totally off target. Not that many use them. Mike doesn't. I have occasionally. Jaroo doesn't. Rac doesn't (I don't think). Kiss doesn't. Many people doesn't. (Ok, I know ...Many 'Don't'. lol)
Hope that clears it up a bit. 
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Last edited by bundyraider, May 11, 2010 10:16pm
Reason: "is" to "isn't" in "not much at that isn't freely discussed in here"
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May 11, 2010 9:04pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by fxeturn
I admire your optimism. Something I really need to work on myself.
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You HAVE to be willing to take losses. You'll struggle until you do.
As long as you don't mix the meaning up as saying "You have to be willing to be a Kamikazee" you should be able to gain enough experience to choose the trades correctly that work with that strategy.
Only a certain percentage of my trades are managed as a 'full-stop out' plan. But when I do, I know to commit to them. This time I actually got the Tech Analysys a little wrong, but for what I believed of the trade at the time I stuck to the plan. You have to. Lots of back and forward testing/trading tells me to. 
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May 11, 2010 9:15pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by joelcf
I'd say if you have your every worth in a spot forex trading, you are probably crazy as well
Oanda is a great introductory broker. Easy to use, easy to deal with, reliable, good spreads and that sweet granularity. IBFX was always good for me, though they can be a pain to get cash in/out of.
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Cash being hard to get out is a plus for me. lol
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May 11, 2010 9:21pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by joelcf
haha, you might be onto something there - my girlfriend cant buy shoes with swiss francs, and I cant see the pub accepting a SWIFT code for a round of pints at 2am 
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LOL.... I am SOOOOO going to use the SWIFT code routine on a cute barmaid now. 
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May 11, 2010 10:28pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by fxeturn
And my girlfriend always asks me, "You lost again today? Did you know why you lose?"
My reply was "That's how the market works. I've already done my part, the rest is up to the market. If I can predict where the price goes 100%, I won't be talking to you now as we'd be having Mai Tais at Maldives..."
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The last couple of times I've been saying "it's like betting on a 5 horse race, but I only lose money if my horse comes dead last. ...And I have an awesome form guide "
That's nailed it both times when it comes to why I have to take losses.
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May 11, 2010 11:06pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Pinbar
Thanks for the reply Mike.
I knew about the pullback systems as I stated in one of my first posts on FF, my other half had formerly been a member of J16 PF and both the systems are on one of the computers at home. Sorry, if I should not have mentioned them in this forum.
Funny how, you seem to think it is a more complicated system than PA, it appears to me to be a lot simpler with clearly defined rules.
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There wouldn't be a problem with mentioning them. It's more the specifics. Which you haven't given away at all.
I asked Jim about it years ago, and he was more concerned about them turning up in an e-book or similar one day. Which would really piss him off.
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May 12, 2010 7:40am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by jeurre
hi, bundyraider, can you provide some comparison between the pullback systems and the pa method we are discussing here?
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They can be one in the same though.
For instance, in the link Mbqb11 gave James gave you a part of what he does with the systems.
The systems have multiple scenarios which I won't copy out here, but by using what James has said as an example in the link above... He is using the cross of those big EMAs and then trading the pullback to the EMA later on. He even said in those posts... combine that pullback with the same S/R (PPZs etc) you learn here with PA and they can work very very well. Most other MA systems are based on complex crossings and immediate entries after the cross and blah blah blah ... "Zip your lips like a padlock. And meet me in the back. With the jack and the jukebox"
Using S/R and PA to improve on an existing system.
Nothing new really in the world of this thread. It's still about trading at great confluences. Location, location location!

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May 13, 2010 7:19am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by jeurre
anyone would consider this continuation setup? the test of daily bar high of earlier looks valid, visually bullish
bad point is a lot of trouble ahead. it is a no trade setup. but, just be interested in observing what might happen today
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Got to be quick here. On laptop battery, but that trouble area is exactly why you wouldn't enter a trade long at that time. ...In fact you can get some great shorts off of ones like that when they line up with a 61.8% fib too. 
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May 13, 2010 7:20am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Dale
You guys are the best; I am enjoying the current volitility
Dale
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Awesome eh? Luv it. 
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May 13, 2010 7:21am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Pinbar
You used 6 lines Jarroo! LoL
Many thanks for your kind help, it is extremely encouraging.
Any chance of another reasonably hard one, just to make sure.
Regards
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You're coming a long real fine PB. Good work. 
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Bundy's status today: "Waiting...  "
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May 14, 2010 5:13am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by jeurre
nope, nasir, my friend. just get lost on bundy's phrase "In fact you can get some great shorts off of ones like that when they line up with a 61.8% fib too." I don't know if he was talking about crude oil and continuation type of DBLHC, or some other scenarios which I still can not figure out, maybe an example of chart would be nice. I still wait, if bundy don't mind, to have some more explanation. so........ thanks, nasir, you are great, well done, buddy .
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Ok. Ask me again next week when I'm back home. I'm a trippin'
...trippin' out. Campin'
Crackers and flares and all happening here. LOL
...damn hooligans. 
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Bundy's status today: "Waiting...  "
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May 14, 2010 5:14am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by nasir.khan
Btw i hate setups that appear just near a PPZ, BRN or Swing point but not at them they are the real teasers.lol
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About sums it up.
That's why Bundy does so much waiting. lol
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May 16, 2010 9:06pm
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'Try-hard' extraordinaire...
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Wow. Eur-chf . ...Can anyone say brick wall? lol
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May 16, 2010 9:26pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by fxeturn
Yea it had that 'hovering' move before plunging the 1.46 and 1.43. Perhaps this time it will plunges at 1.40?
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I get one fib expansion (161.8) at 1.3918. ...So maybe 1.3900-ish.
Another that seems to be pretty accurate that gives 1.3100-ish.
Always interesting to watch. 
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May 16, 2010 9:36pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by fxeturn
By the way, there seems to be a lot of weekly IBs this week...any idea what the causes are??
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Yep... ...Buyers are coming in not far from where sellers are. 
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May 17, 2010 8:49pm
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Pinbar
Good morning people.
Yes, I was going to ask how we setup our charts on a pair such as this where PA is going where NO PA has gone before.
I suppose all we rely on are round numbers?
I imagine, the brakes going on like that mean that a lot of people are afraid to sell it even further and have been taking profits.
EDIT: I think Bundy answered my question before I asked it.
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It's a hard one that's not worth guessing on. My approach is to plot what I did if there is an obvious swing to plot your control points from and then check what round numbers are in that area.
Weekly and monthly floor trader pivots can work.
It's all you can do.
From there all you can do is follow the usual PA cues for trades.
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Bundy's status today: "Waiting...  "
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May 19, 2010 8:21am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Pinbar
Thanks for all the advice people.
I am obviously making some mistakes, maybe psychologically I am blocking myself from seeing PPZ.
It is funny, sometimes I find it easy to spot them but the more I look the less I seem to see or rather maybe I find myself focusing on a certain area too much then sort of block out the big picture.
Maybe last weeks enormous candles are preventing me from getting a clear handle on what is going on with PA as it is hard to look at a weekly Giant red tree type candle then break it down into manageable areas.
I think...
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Dude, when it's seems like you're lost it's probably because there are no setups. There's no clear cut levels to trade off, at the moment. Usually feels the same to me as you explain above. Difference is I recognise it now.
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Bundy's status today: "Waiting...  "
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May 21, 2010 5:09am
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'Try-hard' extraordinaire...
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Quote:
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Originally Posted by tehuringa
Keep at it Pinbar....the pyschological aspects of trading are the key. Master yourself, have a trading plan and stick to it and use sound MM and you'll be fine.
Meh!....it'll be ok
Stick at it bro
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Couldn't have said it better myself.
Pinbar, you've been at it for such a seriously short time. Your brain will wrap itself around it all when it gets time to heal itself. If you give it a chance to heal. lol
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Bundy's status today: "Waiting...  "
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May 21, 2010 5:10am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Pinbar
Thanks Jarro
I will get to it.
And thanks Tehuringa for the encouragement.
Yes, the psychological side of things is what is the problem I believe.
I think my confidence level is down, maybe too much questioning of setups.
Now, isn't that a paradox, too much questioning of setups.
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Why don't you start with waiting for trades at Double Bottoms or 61.8% retracement zones?
I'll add a chart to this post in a few mins.
edit: AAARRRG ...always harder to find them in hindsight .LOL ...Someone??
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Bundy's status today: "Waiting...  "
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May 21, 2010 5:22am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by supremeChaos
Pinbar will get it, because he is, after all, pinbar. he is the PA itself.  
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LOL ... "To find success ...first you must find yourself." 
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Bundy's status today: "Waiting...  "
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May 21, 2010 5:40am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Pinbar
It's perfectly true....
Actually, this frustration is good, I can turn it into a driving kind of energy and use it to persevere.
The goal is well worth attaining, the path is long and hard no doubt but a journey of 10, 000 miles starts with a single step.
Hop, Hop HoooooooooP.
EDIT: Sorry Jarroo No NZD/JPY on FXDD it seems.
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You should be demoing on FXPRO or similar. A lot more variety to choose from.
You live on FXDD? How small of a position size do FXDD let you go? It'll make it harder if there isn't enough granularity.
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Bundy's status today: "Waiting...  "
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May 21, 2010 7:01am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Atc
I would like to find a broker like FXPRO with more markets...but they don't accept US citizens.
Does anyone know of any brokers that are similar to FXPRO ?
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Your a bit screwed in the USA unless you go real futures contracts and shares ....as far as I understand.
FXPro and similar brokers provide CFD trading. With CFDs being illegal in the USA it's not an option for you.
You should though be able to find a broker that offers many more currency pairs. It's all you need to get going with. 
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Bundy's status today: "Waiting...  "
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May 21, 2010 7:06am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by HanSolo
Hello jarroo, this is one of my blind spots yet. I surely can tell a very strong from a very weak move. But identifying the ones in between is a real problem for me. The downmove preceding the 1st PB on your GBPJPY daily chart for example: It does not look so strong to me. At least compared to the one before with the big bearish bar (or do you count that in?). So just by its look it would have been a B or an A trade for me.
Could you help me with that? What makes a move a strong or a weak move?
Thank you!
Hans
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The bar will be bigger than most of the others preceding it. An even stronger sign is if a bar blasts through levels that 'should' have held better. Like a major PPZ. A great signal is when a bar breaks the immediate trend line of the trend preceding it easily.
...or a strong retracement within the bar after an exhaustion move. Sush as a great pinbar that is larger than the bars preceding it. ...and closes back close to it's opening. It went a long way...But iut returned all that distance too.
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Bundy's status today: "Waiting...  "
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May 21, 2010 7:26am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by Pinbar
They allow 0.01 size trade lots.
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Here's an example I was looking for in real time. (there ARE better ones... Just wanted to get one down for you)
Ok it's 1 hour... (oops 15 min. hahaha) But I could wait for weeks for the perfect example on the daily where I'd actually remember to tell you.
If there was a good signal off of this area right now... (That ALSO gave good space to work with) ...then you'd do alright over your 'X' amount of trades.
61.8% via fib study of last range move drawn FIRST.
...Then look for a PPZ for confluence that shows good respect.
...Doing it this way for starters at least you aren't taking the first fake outs at the 23.6% AND 38.2% ETC.
50% with great PPZ confluence is awesome too once you recognise good valid bars to signal off of.
I'm short from the 1 hour pinbar trading a range, and when it hit this point I just set my stop to Break even and now I'm watching. My intent is to take profit at the bottom of the range though. I'll see.
(Edit: should have used more striking colours on the fib study sorry...lol. Open the full chart to see it. )
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Bundy's status today: "Waiting...  "
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May 21, 2010 7:40am
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'Try-hard' extraordinaire...
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Quote:
Originally Posted by HanSolo
That clears it up a lot. Now I understand why the first PB was an easy pass. But what about the second? Is it the way how it behaved on smaller TF?
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Which pin bars are you referring to? Can you mark them out for me?
Sorry about the chart clarity , people...
It's really annoying how the tight asses at FF won't buy decent storage space to hold uncompressed images.
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Bundy's status today: "Waiting...  "
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May 21, 2010 7:48am
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'Try-hard' extraordinaire...
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Quote:
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Originally Posted by bundyraider
Here's an example I was looking for in real time. (there ARE better ones... Just wanted to get one down for you)
.
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I'm short from the 1 hour pinbar trading a range, and when it hit this point I just set my stop to Break even and now I'm watching. My intent is to take profit at the bottom of the range though. I'll see.
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Now looking at this. (see new chart snapshot) Using similar approach.
Fib is backwards due to using the previous one quickly.
Sorry I have to post this and trade at the same time so a bit rushed. NOT EASY posting and 15 min chart trading at same time.
But Once we hit the pink trend line I don't necessarily need a perfect bounce , as I am happy to see it break through temporarily to the 50 or 61.8% zones that line up with other minor PPZs as well.
The same thing happens on the daily ans so on. Except you have time to think about it and you have time to size your trade properly etc.
(Edit: Stop not at BE. Mistake by not conentrating... somewhere about half way from original. Had to edit it. :P )
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Bundy's status today: "Waiting...  "
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