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james16 Chart Thread
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Oct 12, 2009 6:00pm
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THANK YOU JAMES AND MIKE!!!
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Touch trades
Quote:
Originally Posted by glyder
Is this a poss touch trade candidate? (for demo)
It has at least three touches on daily chart.
nearest ppz is way back on the monthly in 1990.
Looks a b
it risky to me on reflection, but....
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I see some of you mentioned recently touch trades.
Just a suggestion that works for me...try to find levels which are confluenced by round numbers, divergence, price pivots or double top|bottom, while market is ranging - some times I do touch trades when price is trending and it's even better. It's fun due to the small stops required.
By the way, I have no time like in the past months to look at charts. I now trade dailies and 4H by alerts of noise and emails. It's pretty useful by the way.
PS - I'll miss you StorgePro  Be safe and take care brother. You are one of my most favorite posters here in FF.
I'm sure you will be just fine with your trading though
Ben
PSS - Pay attention to AUDJPY 80.00 level - great location!
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 12, 2009 6:04pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by mbqb11
I am no touch trade expert, so I will let someone else give you an answer, but I would like to see price move away from this area then a better touch trade next time it tests it say as a double bottom. To me it looks like price consolidating on top of the 11 mark, before a possible break down(I would rather see a false breakout lower ).
Hopefully one of the touch masters can come in here though
Mike
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Ou..I started my post before you. I'm not a touch master  Wait for rac.
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 12, 2009 6:16pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by glyder
Is this a poss touch trade candidate? (for demo)
It has at least three touches on daily chart.
nearest ppz is way back on the monthly in 1990.
Looks a b
it risky to me on reflection, but....
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Actually, I like it.
Sorry, just now opened that chart lol.
Only concern it's against the trend, but I am going to make an intraday trade of the daily chart with a tight stop...when it touches the round number again.
Ben
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 13, 2009 10:46am
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THANK YOU JAMES AND MIKE!!!
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Hey guys,
Does anyone here know about a pin bar alerter which makes a noise when a pin bar forms (or an outside bar)?
It will be much easier for me....don't have much time to check charts.
Thanks.
Ben
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 13, 2009 11:23am
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by benji533
Actually, I like it.
Sorry, just now opened that chart lol.
Only concern it's against the trend, but I am going to make an intraday trade of the daily chart with a tight stop...when it touches the round number again.
Ben
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Yea worked again. I'm a bit more than 1R now, stop moved to BE. Lets see if I can hit my target.
Ben
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 13, 2009 2:31pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by TC East
Ok found it; it was from Que, and it's post #44584.
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wow thanks a lot TC!
I went a few posts further and seems that this one is the alerter. I'll check it out latter - http://www.forexfactory.com/showpost...ostcount=44609
Thanks Que
Ben
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 13, 2009 4:46pm
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THANK YOU JAMES AND MIKE!!!
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__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 12, 2009 6:00pm
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THANK YOU JAMES AND MIKE!!!
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Touch trades
Quote:
Originally Posted by glyder
Is this a poss touch trade candidate? (for demo)
It has at least three touches on daily chart.
nearest ppz is way back on the monthly in 1990.
Looks a b
it risky to me on reflection, but....
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I see some of you mentioned recently touch trades.
Just a suggestion that works for me...try to find levels which are confluenced by round numbers, divergence, price pivots or double top|bottom, while market is ranging - some times I do touch trades when price is trending and it's even better. It's fun due to the small stops required.
By the way, I have no time like in the past months to look at charts. I now trade dailies and 4H by alerts of noise and emails. It's pretty useful by the way.
PS - I'll miss you StorgePro  Be safe and take care brother. You are one of my most favorite posters here in FF.
I'm sure you will be just fine with your trading though
Ben
PSS - Pay attention to AUDJPY 80.00 level - great location!
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 12, 2009 6:04pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by mbqb11
I am no touch trade expert, so I will let someone else give you an answer, but I would like to see price move away from this area then a better touch trade next time it tests it say as a double bottom. To me it looks like price consolidating on top of the 11 mark, before a possible break down(I would rather see a false breakout lower ).
Hopefully one of the touch masters can come in here though
Mike
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Ou..I started my post before you. I'm not a touch master  Wait for rac.
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 12, 2009 6:16pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by glyder
Is this a poss touch trade candidate? (for demo)
It has at least three touches on daily chart.
nearest ppz is way back on the monthly in 1990.
Looks a b
it risky to me on reflection, but....
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Actually, I like it.
Sorry, just now opened that chart lol.
Only concern it's against the trend, but I am going to make an intraday trade of the daily chart with a tight stop...when it touches the round number again.
Ben
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 15, 2009 1:20pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by benji533
Yea worked again. I'm a bit more than 1R now, stop moved to BE. Lets see if I can hit my target.
Ben
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Well, I just let it run after moving my stop to BE and unfortunately it got me out by 2 pips!
Now look how it shot up like a rocket 
At least I read price and could say where it's heading
Second chart is dedicated to Ryan and Mike, third one is the loss I said I''l post when It will hit me
Hope everyone is doing good!
Ben
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 13, 2009 10:46am
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THANK YOU JAMES AND MIKE!!!
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Hey guys,
Does anyone here know about a pin bar alerter which makes a noise when a pin bar forms (or an outside bar)?
It will be much easier for me....don't have much time to check charts.
Thanks.
Ben
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 13, 2009 11:23am
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by benji533
Actually, I like it.
Sorry, just now opened that chart lol.
Only concern it's against the trend, but I am going to make an intraday trade of the daily chart with a tight stop...when it touches the round number again.
Ben
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Yea worked again. I'm a bit more than 1R now, stop moved to BE. Lets see if I can hit my target.
Ben
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 13, 2009 2:31pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by TC East
Ok found it; it was from Que, and it's post #44584.
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wow thanks a lot TC!
I went a few posts further and seems that this one is the alerter. I'll check it out latter - http://www.forexfactory.com/showpost...ostcount=44609
Thanks Que
Ben
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 13, 2009 4:46pm
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THANK YOU JAMES AND MIKE!!!
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__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 16, 2009 8:31am
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by raczekfx
wife say's talk less, do more.... 
This is what I'm doing right now.
Most of these if not all are simply J16 trades. They can be learned and mastered by reading this forum from page 1 onward...
Let's see if these will be 200ps runners... after all it's Friday.
Enjoyed the weekend! 
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I don't have a wife, is it necessary
Nice fishing rac 
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 16, 2009 8:45am
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by gasgas
So you seek for them when price does double top/bottom's ??
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boxes, double or triple tops or bottoms, round numbers, divergence, trend direction, practice and common sense, etc 
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 16, 2009 9:06am
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by gasgas
Congrats man...very nice. I belive some experiance needed for that tipe of trades...and R:R is usually great, isn't it 
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I don't have that much experience...but practice whenever time allows.
This is just confluence of factors and tools which are valuable in my eyes.
In fact, very simple stuff.
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 16, 2009 10:02am
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by Jduester
I was also watching that E/U 5 min this morning....
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Great question.
I use momentum to guess what will be the answer. Divergence is a great tool, especially if you use it correctly (check the close points of the bars) and take the short term div - 5-10 recent bars for me (learned this from Ryan).
If there are obvious double tops which look like two hills, I also check the MACD for longer term div.
The win rate is lower than the pin bar setup I trade many times, but thr R:R covers it if you can rule your emotions and let the trade run.
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 16, 2009 10:19am
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by benji533
Great question.
I use momentum to guess what will be the answer. Divergence is a great tool, especially if you use it correctly (check the close points of the bars) and take the short term div - 5-10 recent bars for me (learned this from Ryan).
If there are obvious double tops which look like two hills, I also check the MACD for longer term div.
The win rate is lower than the pin bar setup I trade many times, but thr R:R covers it if you can rule your emotions and let the trade run.
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Here is another one I took earlier today.
The main trend is down, so you look for an entry on pullback to a confluenced area. It reversed exactly off the big round number, which is a PPZ.
Now you I went to the 5min chart for a closer look and found that nice divergence. it was not hard to know to where it is heading as well.
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 16, 2009 11:12am
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by supremeChaos
hey benji,
jankone's thread would like to have those charts 
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If FF was in my hands, second thing after moving this thread out of commercial, would probably be making you a moderator
Anyway, not sure what touch trading has to do with jankone's thread, but I posted a few trades which fit there.
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 16, 2009 12:25pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by supremeChaos
since the time i first viewed jankone's thread, i believed it is james16 trading applied on shorter timeframes. touch trades are related to S/Rs, PPZs, so i guess it fits there too.
what u do & post are a bit more advanced for most here, even on demo. u seem to be a fast learner, u are lucky as most are not like u. but that doesnt mean u can just disregard many other newbies here.
(i think u dont want to post there because it's either 'pretty boring' there [many seasoned traders u know dont post there] or 'no one can...
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The truth is that I don't have much interest in something else than the James16 thread. It gave me all I need, and it contains all I will need. All the traders I would wish to know are here as well.
Not in purpose of disregarding anyone.
But I see your point. no more charts from now on.
good luck,
Ben
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 16, 2009 4:39pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by supremeChaos
Ben
u must be thinking that i'm picking on u.. my apologies, it's not my intention.
now that i've understood your whole sentiment, hope u understood mine.
Let's  & see more of your charts.
btw, it's 1.31am here... a great weekend to all!
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Hey SC, it's fine buddy. No offense taken at all.
Thanks you Mike, bundy, Jeff and XXX for your comments. I appreciate it
Ben
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 17, 2009 3:25pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by mbqb11
Mike
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Hey Mike,
Just thought you would like watching this chart.
Seems to be a nice breakout pattern. The "first quick short pullback" already occurred and formed a buob.
I will be looking for another pullback, and for a short from 11.500 if it goes higher.
We can smack the market both ways...let it decide which he prefers
Ben
PS - who remembers my long touch trade last week? 1.5 pip less and I would be holding a 6 R trade now 
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 17, 2009 5:48pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by jarroo
Let's see if I can explain this comment on Mike's post, but on the current Gbp/Jpy Daily chart. ( Mike, let me know if I'm off track here).
On the Daily Gbp/Jpy we have Price at a very good confluenced location. Nice round numbers, 140.00, 141.00,
50% retrarcement level, and most importantly, a strong PPZ level.
We see some PA developing, but nothing Big and Bold to what we would like to have to counter this strong move down. As days pass, a consolidation area develops forming a Base of which we could play a breakout...
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Dman.....that could be a lovely one!
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 19, 2009 9:01am
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by benji533
Hey Mike,
Just thought you would like watching this chart.
Seems to be a nice breakout pattern. The "first quick short pullback" already occurred and formed a buob.
I will be looking for another pullback, and for a short from 11.500 if it goes higher.
We can smack the market both ways...let it decide which he prefers
Ben
PS - who remembers my long touch trade last week? 1.5 pip less and I would be holding a 6 R trade now 
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Told ya 
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 20, 2009 11:44am
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by benji533
Told ya 
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Up baby! up! 
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 20, 2009 11:51am
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by benji533
Up baby! up! 
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double top with div = going to take some profits now.
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 20, 2009 11:59am
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by gasgas
Sorry for little off question guys.
I know most of you use MACD for divergences, but some use also Stock. But I see a difference here.
So which chard is (more) right: MACD one or Stockhastic one !!?
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Hey gas,
Try this post of mine for div (the second half of it): http://www.forexfactory.com/showthre...70#post3099970
Please take note it is just y opinion only.
The stoch and RSI are easier to see and use for short term div, while the MACD is more comfortable for longer term div (double tops, etc).
JMO
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 20, 2009 12:15pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by benji533
double top with div = going to take some profits now.
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Tons of resistance + no momentum left =
OK I'm out to run.
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
Last edited by benji533, Oct 20, 2009 1:01pm
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Oct 20, 2009 12:29pm
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THANK YOU JAMES AND MIKE!!!
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WTF!
Today in the morning before going to school I was going to set a buy limit order on the turkiz horizontal line but I didn't want to enter a 5 min trade and then come back only in the evening lol.
damn it could be a supper. School sucks!!!!!
- Trend is up.
- TONS of support.
- Divergence all the way.
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 20, 2009 2:44pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by g_j_hook@yah
het Benji533, when you gonna start your own thread man!!??
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I Suppose you are kidding...my thread in your dreams 
Thanks buddy
PS - Great EU trade rac 
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 20, 2009 4:46pm
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THANK YOU JAMES AND MIKE!!!
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Pay attention
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 20, 2009 4:53pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by g_j_hook@yah
in my dreams no!! your well on your way my friend!! im sure it wont be too long before your teaching us all even more!!
jon
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Thanks for the kind words Jon.
James16 is our home thread 
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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Oct 20, 2009 6:16pm
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THANK YOU JAMES AND MIKE!!!
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Quote:
Originally Posted by Mikali
Hey benji533,
I agree that going long here warrants some caution although the trade has possibilities. First, price has rejected the 1.0300 level a PPZ twice now. I'm playing this trade as a DBLHC and entering the trade at the 61 FIB retrace @ 1.0425 with the SL @ 1.0300. My first TP @ 1.0590 and the second TP @ 1.0675.
Anyone else looking to take this trade I would love to hear your thoughts.
Mikali
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Hey Mikali,
Actually I was referring to the option of going short at the purple boxed zone I drew.
We are now in a strong long term downtrend. I will be looking for a short off a pullback to that significant PPZ|Resistance.
By the way, You are now trading right into that resistence zone and against the trend. IMO it won't pass my purple zone. Not for me. manage it tight my friend
Ben
__________________
One cannot be grateful and hold on for long to the attitude of being a victim - Chris Wilson
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