Additionally to that post, fib expansions would be a good candidate for future support and resistance where there was no previously known support/resistance. (If price ever makes an all time high or low)

james16 Chart Thread

So I'm looking at some charts and noticing that more often than not, if there isnt support and resistance somewhere, price tends to make a violent thrust toward the next S/R area. It almost looks like price vacuums or something, plotted correctly ...

james16 Chart Thread

I kind of do already, minus the sleep discipline. A typical trade I only risk 0.50% or 0.25% of the small account. I've also done a lot lot lot of studying on trading and price action (3 years worth now). The only thing missing has been chart time ...

james16 Chart Thread

Wasnt actually demo, I cut it at a loss of about $8.00. No biggie. But those levels were definately on my mind, had I been awake I would have set the stop to BE. My big lesson is 1.) Dont go to sleep with an order in place if its not at break even. ...

james16 Chart Thread

Possible Pin (Bar hasnt closed yet) If it closes as a pin, theres 2 supporting areas of 23.6 fibs and 1 supporting area at a 38.2 fib for recent swings. Also, it would be supported by 93.00. It will hit some possible resistance a few areas soon ...

james16 Chart Thread

Still in the EURUSD trade at -43.10 pips. I was a bad trader today, kept hitting snooze on the alarm and slept while I should have been moving my stop to BE.

james16 Chart Thread

I didnt even take the gap into consideration. I know gaps like to close, and I actually just read today that gaps often end up as new S/R. So looks like if I wanted to be safe I could just use the close of the gap as a TP level then move to BE. I ...

james16 Chart Thread

Any thoughts on the Pinbar on the EUR/USD Daily? Its on the previous swing high/lows 61.8 fib, and some confluence with other bigger swings from this year. I'm tempted but passing on it just because its formed off a failed attempt to make a lower ...

james16 Chart Thread

Probably still my weakest point, but improving. The hard part for me and the way I should improve exits is deciding beforehand whether Im looking for a long-term trade or short-term. If I achieve 1:1.5 or 1:3 thats a good trade. 1:10 makes me even ...

Building a Trading Strategy

Couldnt believe the negativity in this thread. Actually, I could.. its all over the place on every forum I ever read. Maybe thats why I dont participate much on forums, not because the negativity would get to me, but that arguing with them over my ...

4% A Day Forever

The timelines arent drawn correctly because the charts are stetched to fit to your screen. Right click on the chart and go to properties, then go to the Common tab and use the 'Scale Fix' option and your trendlines will be more precise across all ...

Why do trendlines appear in different places on different timeframes?

woke up to 70+ pips in profit, rock on waiting for more confirmation of a move down, currently locked in 27 pips. will move sl to lock in 60 when I see another lower low and lower high.

USD/JPY Discussion

I got entries down to a science but MM still eludes me. My issue is I'm struggling with is it okay to have a R:R or 1:1 or worse on a per trade basis? I plan to hold on to trades for 20 pips and then close half the position, and move stop to B/E. ...

james16 Chart Thread

Short here too, 91.80 would be awesome. My SL is at 95.90 and I got in at 95.45, so in the red at the moment. Hope this current rally doesnt take me out.

USD/JPY Discussion

doh! stopped out at break even, was up 40 pips but a correction took me out O_O

EURUSD

-12 here so far, but as long as 4095 isnt hit today should be good. not looking for intraday but hitting 4000 and getting out before the end of the day would be a plus.

EURUSD

laughing out loud

EURUSD

Actually, 4000. Edited, lol

EURUSD

Now short @ 4056, SL is 4095 and TP is 4000

EURUSD