Gee, I wonder if the NY session is going to suddenly lose volume. lol. I'd say that London will pick it up, but from what I can tell, British politicians are even worse than their US counterparts. The idea of a transaction tax has been floating ...

james16 Chart Thread

People would do very well to read every post they can get their hands on from the_wizard, darkstar and merlin. You'll learn more in a couple of hours about how an auction market works than most people learn, uhm, ever. Esssential stuff if you want ...

james16 Chart Thread

First one to 5000 posts picks up the tab

james16 Chart Thread

Exactly. Bars are just an abstraction of price movement. We could represent the same information as a line, as some Xs and Os stacked in lines (p&f charts) or as a pile of multicoloured cats if we want*. We just want some way of trying to read what ...

james16 Chart Thread

For me, this is the best trade on the whole chart. Tiny risk, huge reward. image

james16 Chart Thread

Not really. It just means the other side would change the way they break up their orders, and smarter traders and desks will exploit the amatuers jumping on a 'sure thing'. It isnt like insto traders are going to let a bunch of people slip their ...

james16 Chart Thread

For a while, the H4 ATR of eurchf was hovering around 5 pips, with the spread under 2. Allowing a bit of leeway for validation on your setup and you could realistically get a 10 pip stop, esp given the BRN barrier. So, sticking to the conservative ...

james16 Chart Thread

MACD 'divergence' on a single bar? hrm.

james16 Chart Thread

Are they? (hehe, couldnt resist ) Trends are almost always because of macro themes - the oscilations around those themes are your short term news/trading/positioning. Which is why people with your approach will do alot better than most. In the ...

james16 Chart Thread

There are signs that the entire Eurozone isnt as completely screwed as people feared. Spain managed to sell 3bn euro worth of 15y bonds overnight, at a reasonable (albeit 80 bps higher than last time) spread, so there is a few signs that they might ...

james16 Chart Thread

Are people trading D1 pinbars on MT4 micro accounts moving the market? Or piggybacking on the market flows caused by big currency movements?

james16 Chart Thread

Damn, I should move. That wouldnt even cover a day here, let alone a month.

james16 Chart Thread

Maybe on a daily or weekly chart in a market where the open/close are meaninful numbers - like futures or equities. In speculation-heavy instruments, like the YM and ES especially, the open/close on all bars that people are trading (generally ...

james16 Chart Thread

Marketwise or threadwise?

james16 Chart Thread

AUD barely moved at all in reaction to BoT. It hardly ever does, because BoT isnt really all that important (unless it happens to be massively negative, but even then its pretty meh). It was falling on super thin volume all morning in the leadup to ...

james16 Chart Thread

That myth was debunked by a high school kid, ten years ago. People still follow the 'teachings' of a guy that promoted market astrology, claimed to predict the bombing of Pearl Harbour in the twenties and made his (small amount of) money selling ...

james16 Chart Thread

God damn! I used to have such a crush on Jennifer Love Hugeti...erm, Hewitt.

james16 Chart Thread

I'm with The Great Cornholio here. image Down. image Down. image Down. image Down. Not saying you cant take countertrend trades. Of course you can! This isnt a great one though. You arent at a swing low, its heading straight into traffic, ...

james16 Chart Thread

That would be an easier way to say it I think it goes back to what we were talking about in the pf. A range is showing us accumulation/distribution (or, if you prefer, basing/topping*) and so by taking this bar, you are shorting straight into ...

james16 Chart Thread

I am of the firm opinion that BEOBs like this are a trap. Alot of people will see the signal and jump, but your reasoning is dead on. No matter how you draw it: image or image ..that doesnt look like somewhere I want to go short. Taking these ...

james16 Chart Thread