Forex Factory (https://www.forexfactory.com/forum.php)
-   Commercial Content (https://www.forexfactory.com/forumdisplay.php?f=158)
-   -   james16 Chart Thread (https://www.forexfactory.com/showthread.php?t=2331)

HanSolo May 3, 2010 3:41pm | Post# 62581

hi HanSolo, this is a big step to have taken bro hearing it said and seeing it for yourself from the charts is another thing entirely!nice one dont underestimate what you said here...
Thanks for your motivating words! The pleasant feeling from being stopped out at BE and knowing WHY it happened greatly exceeds the one from any hit-or-miss high-profitable trade I ever had. It's great to be here.

mbqb11 May 3, 2010 3:45pm | Post# 62582

Mike thanks. I was thinking of Dan's / Ghous' inside 4 bars - where the bar is within the range of the previous 3 bars - or have I got that horribly wrong?

Just wanted to do some demo's on it and searched the thread but cannot (yet) find the full description. I know you posted a link a few days ago but I wondered if there was anything more comprehensive. They seem to wind up into big moves.

I'll keep searching. As ever, thanks.

J67
Hey J

You may be thinking of an IPB(which is ghous thing), and inside4b(I4B) is simply an inside bar that has a smaller range then the previous 3 bars. It still must be an inside bar.

Here ya go

http://www.forexfactory.com/showpost...ostcount=59040

Best
Mike

TraderDavo May 3, 2010 4:06pm | Post# 62583

I wonder where this figure comes from....
This is a bit more consistent. Its 95% of ALL traders. I bet 20-30% of the people that actually frequent forexfactory are moderately successful in the very least.

You have to remember that the great majority of the 95% are those out there chasing the get rich quick scheme.

Jonners67 May 3, 2010 4:51pm | Post# 62584

Hey J

You may be thinking of an IPB(which is ghous thing), and inside4b(I4B) is simply an inside bar that has a smaller range then the previous 3 bars. It still must be an inside bar.

Here ya go

http://www.forexfactory.com/showpost...ostcount=59040

Best
Mike
So firstly it is an inside bar, then it can be an I4B as well, i.e. being an I4B alone is not significant enough as PA?

Thanks

J67

mbqb11 May 3, 2010 4:53pm | Post# 62585

So firstly it is an inside bar, then it can be an I4B as well, i.e. being an I4B alone is not significant enough as PA?

Thanks

J67
an I4B must be an inside bar. But not all inside bars are I4bs.

You can have an I74B, which would be an inside bar that has a smaller range the the previous 73 bars.

So an I4B is an Inside bar the MUST have a smaller range then the previous 3 bars and MUST be an inside bar(that is inside the previous bar only not inside the previous 3 bars).

Let me know if that clears it up
Mike

Jonners67 May 3, 2010 5:01pm | Post# 62586

1 Attachment(s)
an I4B must be an inside bar. But not all inside bars are I4bs.

You can have an I74B, which would be an inside bar that has a smaller range the the previous 73 bars.

So an I4B is an Inside bar the MUST have a smaller range then the previous 3 bars and MUST be an inside bar(that is inside the previous bar only not inside the previous 3 bars).

Let me know if that clears it up
Mike
So, the play on my previously posted chart (posted again) would have been the inside bar two days ago, that also happens to follow the previous day's inside bar and is at a PPZ long. This shows a winding up ready for a breakout?

J67
Click to Enlarge

Name: EUR JPY 3.v.10.JPG
Size: 206 KB

mbqb11 May 3, 2010 5:09pm | Post# 62587

So, the play on my previously posted chart (posted again) would have been the inside bar two days ago, that also happens to follow the previous day's inside bar and is at a PPZ long. This shows a winding up ready for a breakout?

J67
Hey J

Yep this would make much more sense. This would be an I4B, maybe an I6 or 7B. Price basically formed this I4B right under 125 when it broke both it bursted higher(inside bars show a consolidation and the I4B shows a decreasing of range )

Mike

the_wizard May 3, 2010 5:11pm | Post# 62588

1 Attachment(s)
Hi everyone.
Click to Enlarge

Name: crude.gif
Size: 23 KB

Jonners67 May 3, 2010 5:55pm | Post# 62589

1 Attachment(s)
Hey J

Yep this would make much more sense. This would be an I4B, maybe an I6 or 7B. Price basically formed this I4B right under 125 when it broke both it bursted higher(inside bars show a consolidation and the I4B shows a decreasing of range )

Mike
Thanks again Mike.

Slow here today, not sure why?

What's your take on Wizard's crude? I looked - see chart below (the black arrow was the entry I posted a couple of weeks ago (with monthly / weekly / daily PPZ)).

Different broker, but are the bar highs as important as resistance if shorting as the bar lows (at around 8570)? In my chart, we seem to be running into traffic on the highs almost immediately. However, on the bar lows, there is room to 8520, then to 8470.

Feels like a private lesson from Mike and the Wizard - awesome. Is it like this on the private thread?

J67

PS I appreciate it is not a pinbar on my feed
Click to Enlarge

Name: Crude 3.v.10.JPG
Size: 226 KB

mbqb11 May 3, 2010 6:12pm | Post# 62590

Thanks again Mike.

Slow here today, not sure why?

What's your take on Wizard's crude? I looked - see chart below (the black arrow was the entry I posted a couple of weeks ago (with monthly / weekly / daily PPZ)).

Different broker, but are the bar highs as important as resistance if shorting as the bar lows (at around 8570)? In my chart, we seem to be running into traffic on the highs almost immedutely. However, on the bar lows, there is room to 8520, then to 8470.

Feels like a private lesson from Mike and the Wizard - awesome. Is it like...
Wiz plays these markets quite a bit(Hi bud good to see you stop by hope you are keeping away from the lighting these days )

I am a size guy. You will notice a lot of the bars I take are larger then normal. Now one thing that is important to realize as you go through this is their are a ton of ways to make this work. Big bars, small bars, different locations...so don't be afraid to experiment around as you demo. For me I wouldn't take this simply b/c of the size of the bar. I would rather see us push through these last highs(it looks as if were knocking on the door and with an uptrend I would suspect any move down would be more temporary before a burst to at least test what exists above 87 here. Then if we got a big bearish bar coming off that divergence + new high would be my type of play. Again everyone has certain plays they tend to really like and are comfortable with. Wiz will tell you how important that is.

A break lower could stall at 85.50 and then if not clear way towards 85. I would want to trade away from 85 as we see weekly has a buob so we could be going higher.

Again just my analysis as always and as you can see many bars can be traded a few ways to make it work.

Mike

joelcf May 3, 2010 7:50pm | Post# 62591

Yesterday I feel in love with a PB on daily NZDCHF:

 

  1. @ swing high
  2. @ upper intermediate channel TL (yellow line)
  3. below 1.7900
  4. bearish divergence

Still it was a countertrend trade after a very steep up move and, as one can clearly see, selling on friday and ends of month seems not as reliable as on other days. Furthermore BRN 1.8000 may act as magnet for price.

There isnt really divergence there, unless you ignore all of the nearest points. Given your MACD is set to 12/26/9, taking divergence from like a hundred bars back is pretty meaningless. Look at the nearest end - price moved up steeply, MACD moved up steeply. No div.

Channel line is pretty arbitary as well, it hasnt been touched in a long time.

Still, I dont think your trade was terrible. Nice big bar, swing high, decent amount of room before the FTA, and then plenty after that. If there was some divergence there, I would have taken it. As is, I passed (a strong move up like that makes me turn into a big girl), but I can see why people like it. Have to remember that these things arent 100%, and sometimes the market just goes against you. Take some notes, reload and move on

Here's an pin bar that played out nicely. Mini-sized Dow 15-min chart.
very nice.

This is a bit more consistent. Its 95% of ALL traders. I bet 20-30% of the people that actually frequent forexfactory are moderately successful in the very least.
It isnt even that much, more like half that. Depending on market studied, definition of 'winner' and 'loser', etc. But yeah, most find that only 60-80%ish 'fail'. Just another of those trading platitudes thrown around.

Also, I suspect 70% of FF has trouble tying their shoelaces, so your second estimate could be a bit high

I am a size guy.
Oh, I bet you are

http://stupidcelebrities.net/wp-content/fat_girls.jpg

Dan Gilbert May 3, 2010 8:45pm | Post# 62592

1 Attachment(s)
I posted this in my journal, and figured I would post it here.
Click to Enlarge

Name: biasmaybewrong.gif
Size: 30 KB

fxeturn May 3, 2010 8:45pm | Post# 62593

I dont think I've heard anyone mention the monthly AUDNZD BEOB. Its at a swing high and is being rejected off the 1.3 BRN. It also has divergence as confluence.

Thoughts?
I did mention it here.

It's a PB+BEOB in one. Price is now floating at the bullish TL formed by the giant PB on Dec 2008. If it can make a break south pass 1.2600, I'm looking for PA at 1.2500 as its next target.

Pinbar May 3, 2010 10:07pm | Post# 62594

Hey Pinbar

I can not believe you are the first person to take that name after all these years!...

Many thanks for the welcome and Also the comments Mike.

Yes, it is funny that nobody took that handle considering how long this thread has been going, with all the mention of PBs, it seemed a natural choice and a good one as I do not intend to wander off and get lost in other systems, for the foreseeable future.

The comment about time frames to stick to is interesting and very appropriate, as I learn more about PA and move through lower TF, it can confuse me a little.

Once again, thanks for the welcome.

spookie94 May 3, 2010 10:44pm | Post# 62595

I posted this in my journal, and figured I would post it here.
Saw this one too. Right on a BRN. Also, on my chart a trend line on the bottom forms a nice pennant. Should break soon. Whats your take on the 1st trouble? I see it as 1.6730 long and 1.6392 short.

cprao May 3, 2010 11:14pm | Post# 62596

BEOB on EURUSD Daily
 
1 Attachment(s)
Any thoughts ?
Click to Enlarge

Name: Daily -EURUSD-05-03-2010.gif
Size: 34 KB

ertorque May 3, 2010 11:33pm | Post# 62597

Saw this one too. Right on a BRN. Also, on my chart a trend line on the bottom forms a nice pennant. Should break soon. Whats your take on the 1st trouble? I see it as 1.6730 long and 1.6392 short.
I would say 1.662ish long and 1.641ish short. Dang, if only the spread wasn't so high. It is 8 pips on IBFX

Dan Gilbert May 3, 2010 11:37pm | Post# 62598

Saw this one too. Right on a BRN. Also, on my chart a trend line on the bottom forms a nice pennant. Should break soon. Whats your take on the 1st trouble? I see it as 1.6730 long and 1.6392 short.
I honestly would not take this long (trend, and divergence)

but short, I see 1.6391 (my gut tells me the trade will reverse here and take me out at B/E)

then 1.6211ish

joelcf May 3, 2010 11:40pm | Post# 62599

I would say 1.662ish long and 1.641ish short. Dang, if only the spread wasn't so high. It is 8 pips on IBFX
Seriously? I see 4.4 on Oanda, and even tighter elsewhere.

*edit* remoted into my home account, and I see 4.4 on MTB and around 2 pips on IB. I used IBFX for ages and they always seemed competetive. Have they gone downhill, or was I just getting suckered? >:/

cprao May 3, 2010 11:42pm | Post# 62600

Seriously? I see 4.4 on Oanda, and even tighter elsewhere.
6.7 on FXCM Micro.


© Forex Factory