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james16 Chart Thread
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Jun 12, 2010 4:36am
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sucker for punishment
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Quote:
Originally Posted by Dan-FX
Interesting how trendlines can vary so much, for me price was on the other side so not a supporting factor. Are there any rule of thumbs for drawing TLs or is it just an art and seeing how price reacts or respects it?
Thanks and have a good weekend 
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As well as leaving your TLs that have multiple touches try connecting the last two obvious swing high point as soon as they have happened to make a fresh line. Its the third touch that usually gets the reaction we want and then i personaly wait to see if it holds up on the next approach to see if it is worth keeping on my chart. see the chart for an example of how i plot them...
Also its worth noting that when they line up with an MA or other confluencing areas/factors they will be more chance of a good reaction. The good thing about TLs is that they keep you trading the trend and therefore make things that bit easier.
hope this helps
jon
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Jun 12, 2010 4:39am
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sucker for punishment
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Quote:
Originally Posted by ghous
I can't believe I googled that! 
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gotta laugh old buddy!!
btw some great posts recently bro
Quote:
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Hookers for everyone! . . wait . .that may not be appropriate.
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...well if your offering Jarroo....im single!!.... lol
jon
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Jun 12, 2010 6:32am
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sucker for punishment
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Quote:
Originally Posted by Grousman
Hi all, been a while since posting, actually got a day job so kind of busy....
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i like this one a little also, not the best situation with it coming at the end of a ranging market but the dbl bottom looks good.Couple that with a weak looking GB and it could be a quick trade.(with tight Jarroo type MM )
i would like to see it break with some momentum though through the first area i marked on the chart with my first TA at .8400, mabye even close it all there if it reaches..? We have div which shows up clearly on the 4h TF which targets around 8400 also.
jon
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Jun 12, 2010 6:35am
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sucker for punishment
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Quote:
Originally Posted by Pinbar
I could always become single if given the chance.
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lol...just dont tell the missus you said that!! lol
jon
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Jun 13, 2010 2:45am
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sucker for punishment
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Quote:
Originally Posted by jarroo
She's on her way buddy. lol
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jon
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Jun 14, 2010 5:49am
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sucker for punishment
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anyone else short gb?? bad news for the currency today
jon
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Jun 14, 2010 6:04am
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sucker for punishment
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Quote:
Originally Posted by supremeChaos
bad news? why is price up  
i remember your preferred trading strategy (found in your profile): "wait for price to go up, and buy the day before!" 
well, i was short the day before today. learned it from u 
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lol...its jus a guess but i think it was jus a squeeze, i see price dropping from here???dont quote on it ! i'm short from a touch trade from 1.4750, so lets see how it goes..??
jon
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Jun 14, 2010 6:09am
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sucker for punishment
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Quote:
Originally Posted by nasir.khan
Small PB @ 50%.
Make your own decision. 
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yeah, shame bout the bar size or it would be a really nice setup. Still could be of course...
jon
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Jun 14, 2010 6:21am
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sucker for punishment
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Quote:
Originally Posted by supremeChaos
i see..
good luck & be alert bro... 
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 ..yeah we might see it hit 1.4780-1.4800 yet (or more )
i took half off allready at +20 as i had quite a small stop so not worried
jon
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Jun 14, 2010 10:24am
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sucker for punishment
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Quote:
Originally Posted by novice198
Hi Mike,
Thanks for your feed back, however, not sure what you mean by above statement. Can you pls elaborate further.
Cheers
Novice198
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im not Mike and im sure he will give you the better explanation but to give you the idea as im in a similar trade atm. my reasons for taking it were the break of the base of the consolodation which also broke a RN and the failed BUOB on the 1h TF. but if you look at the 15 min TF you can see it break and retest the area which confirms the validity of the break and shows that it is not just random price movement
hope this helps
jon
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Jun 14, 2010 11:03am
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sucker for punishment
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Quote:
Originally Posted by mbqb11
Hey Novice, what it means is simply selling under the new low that got created by the initial breakout. So when price pullsback that low that got created by the initial burst you can place a sell stop under that area if you get no PA. Again this is just another way to get yourself into a trade without PA in certain circumstances. I marked the area in blue with where I mean you would place your sell order.
Hope that helps
Mike
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aha sorry Mike got the wrong end of the stick there. thanx for clearing that up
jon
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Jun 14, 2010 11:21am
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sucker for punishment
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Quote:
Originally Posted by mbqb11
Hey Guys,
I thought my previous post would help maybe not lol
It is simply selling a new low, if this happened to the upside you would be buying a new high. It is just a way to get into a breakout pullback that doesn't give good PA on the pullback but where your "area" still holds.
Hope this clears it up
Mike
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dont worry, its clear lol. and i understood, i should have read the original post before posting !!
jon
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Jun 14, 2010 1:15pm
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sucker for punishment
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hey Bug, heres the ATR indicator you asked for
jon
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