james16 Chart Thread | Page 337 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #6,721
  • Oct 3, 2007 4:10am Oct 3, 2007 4:10am
Quoting saskgui
Ok bear with me folks, just trying putting this together. Here is a dbhlc on the FXDD daily. I put in a sell stop below the db. Not sure if i am too early to detect if this is the swing high or not. Small stop and tp as it is against the trend and i am only trading the possibility of a retracement.
Hi Saskgui,
It doesn't show as a Double High on my chart (different timezone/broker), but yes you could play it to the downside.

For:
Recent dollar bullishness, decent looking (possible) highest high in last 10 years.

Against:
There is no confluence, since it is up so high, so it is risky in an strong uptrend.
Enrty is quite close above 8800 - much safer to make it also break 8800.

The conservative Stop Loss would be above the Double High (at which point you could do a stop and reverse). Be careful that your Stop loss isn't too tight.

Good Luck with the trade,
Ian
  • #6,722
  • Oct 3, 2007 4:30am Oct 3, 2007 4:30am
What was I thinking, time for bed, catch you again another time...

All the best of pips to you.

A

Quoting SeekingLight
Alex, keep in mind you can't draw the TL if Oanda's weekend "dots" are still in the chart. You can disable them in preferences so as not to get your chart distorted by a price lag that doesn't exist..

We are still holding the GJ TL / channel here(chan a bit on the creative side).
  • #6,723
  • Oct 3, 2007 5:34am Oct 3, 2007 5:34am
Quoting ianf0ster
There is no confluence, since it is up so high, so it is risky in an strong uptrend.

One could also add: in an uptrend look to buy dips, in a downtrend look to sell rallies.

Usually fares better.


Who knows when we'll get "the turnaround"...(uptrend changing back to downtrend)..currently the rate/yield remains unchanged the second highest in the world I believe..so I suspect a lot of folks will like being long and getting paid rather well for doing nothing else for a bit longer ;p
Trust price. Know yourself.
  • #6,724
  • Oct 3, 2007 7:25am Oct 3, 2007 7:25am
Quoting the_wizard
LOL I feel the same. I'm adding to my Aussie positions even as everyone is posting bearish setups...
In your case the dreaded aussie-cad

Here is what's keeping it's headspace currently limited imho...but could pop like a cork eventually...question for me is on which pair in the real pair world - AUDUSD or USDCAD?

One of 'em is gonna shoot off...
Attached Image
Trust price. Know yourself.
  • #6,725
  • Oct 3, 2007 8:14am Oct 3, 2007 8:14am
Quoting SeekingLight
In your case the dreaded aussie-cad

Here is what's keeping it's headspace currently limited imho...but could pop like a cork eventually...question for me is on which pair in the real pair world - AUDUSD or USDCAD?

One of 'em is gonna shoot off...
Surely it has to be USD/CAD...

Does the AUD/USD have much more room overhead? Maybe on weekly/monthly it does but the daily TF does look fairly overextended to me right now...

I was stopped out of one half of my position at +85, stil riding the other half and looking to add again on a break above the TBH (which coincides with your descending TL)

Hopefully this will take off eventually...at the moment its very volatile on an intraday basis...
  • #6,726
  • Oct 3, 2007 9:18am Oct 3, 2007 9:18am
Okay, I admit, I lost overview of the situation - did I post the original chart of this one from the 25th on this thread?

Just wanted to post an update since I like to come back to some thoughts / charts sometimes, see how they fill out or not.

It's not valid per se since it is sort of "in the middle of things". This did not prevent this from working as a simple TL breakout / channel break trade though

Notice how price retested the TLs from above before taking off.

Ironically moves seem mostly USD based lately..

Progressing pretty okay so far:
Attached Image
Trust price. Know yourself.
  • #6,727
  • Oct 3, 2007 9:30am Oct 3, 2007 9:30am
Quoting raczekfx
next two stops...?
2 being my ultimate target and reverse to short area. (117.60-90)
we shall see....

trade and be happy
.
Attached Image
  • #6,728
  • Oct 3, 2007 9:34am Oct 3, 2007 9:34am
Quoting raczekfx
.
What if we go to 125 instead?
Trust price. Know yourself.
  • #6,729
  • Oct 3, 2007 9:40am Oct 3, 2007 9:40am
Quoting SeekingLight
What if we go to 125 instead?
not a big deal, we'll make money on they way up, then on the way down again...
  • #6,730
  • Oct 3, 2007 9:52am Oct 3, 2007 9:52am
Quoting raczekfx
not a big deal, we'll make money on they way up, then on the way down again...



EURUSD must have heard the "way down" part
Trust price. Know yourself.
  • #6,731
  • Oct 3, 2007 9:52am Oct 3, 2007 9:52am
another interesting chart...
Attached Image
  • #6,732
  • Oct 3, 2007 9:54am Oct 3, 2007 9:54am
Quoting raczekfx
another interesting chart...
.. and micro, 4hr perspective
Attached Image
  • #6,733
  • Oct 3, 2007 10:14am Oct 3, 2007 10:14am
EURJPY trade last night. Setup is on the 4H, nice proxy pinbar off the EMA. Got 70 pips as TP was set for me sleeping, but I got over 3R, as my stop was well-placed and only 20 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 061.gif Size: 36 KB
  • #6,734
  • Oct 3, 2007 12:13pm Oct 3, 2007 12:13pm
Quoting JoshDance
EURJPY trade last night. Setup is on the 4H, nice proxy pinbar off the EMA. Got 70 pips as TP was set for me sleeping, but I got over 3R, as my stop was well-placed and only 20 pips.
JoshDance, a really nice trade. Feels similar to the way I've been playing the game. I don't usually get 3r though...keep it up, dude. Also, really nice to see people posting trades they actually took and their reasoning for entry and exit rather than just posts of potential setups...
  • #6,735
  • Oct 3, 2007 12:32pm Oct 3, 2007 12:32pm
.
Attached Image
  • #6,736
  • Oct 3, 2007 12:34pm Oct 3, 2007 12:34pm
.
Attached Image
  • #6,737
  • Oct 3, 2007 12:42pm Oct 3, 2007 12:42pm
Quoting the_wizard
really nice to see people posting trades they actually took
Attaching a chart and then the 4h of it

Quote
and their reasoning for entry
PA as labeled

Quote
and exit
..exit?

Quote
rather than just posts of potential setups...
True, it is a bit dangerous to post stuff ahead of time - just was a similiar topic elsewhere.
Not trying to give any sort of "signals" but trying to discuss how this stuff works instead...



No 5m jockeying on these though, sorry

Also not saying which trades I personally took out of those / added to / skipped, just coz I'm mean like that.
Attached Images
Trust price. Know yourself.
  • #6,738
  • Oct 3, 2007 1:11pm Oct 3, 2007 1:11pm
Have been looking at demoing ib's lately and so am interested in the way different people approach them.
stradling etc & stop positioning???
Any opinions?? Thanks
Jeff
  • #6,739
  • Oct 3, 2007 1:42pm Oct 3, 2007 1:42pm
I personally don't like this and wouldn't trade it short but I know some of you may
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 20 KB
  • #6,740
  • Oct 3, 2007 2:02pm Oct 3, 2007 2:02pm
Quoting the_wizard
I personally don't like this and wouldn't trade it short but I know some of you may
why not...?
and just like you in the past with 10%...

http://forexfactory.com/showpost.php...&postcount=481
40 traders viewing now