james16 Chart Thread | Page 79 | 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

  • #1,561
  • Dec 18, 2006 11:04pm Dec 18, 2006 11:04pm
Quoting goodthings
Thanks
Hey tom just went through a chart quick to show you some DBLHC etc(dint cover everything on it though). The higher the time frame the bigger the gap I will allow. So a 8-10 pt diff on a monthly may be acceptable to some, but on a daily that doesnt hold up for those bars. Hope this helps a bit

Mike

This PA stuff is great on these higher timeframes, much more reliable. Its hard for many to trade them because of the stop sizes, but you just need to adjust your position size accordingly and you can be racking in some big PIPS, without all the intra-day stress James teaches AMAZING stuff
Attached Image
  • #1,562
  • Dec 18, 2006 11:17pm Dec 18, 2006 11:17pm
Looking It over thanks
  • #1,563
  • Dec 19, 2006 1:00am Dec 19, 2006 1:00am
Quoting goodthings
Habeeb did the pin bar form on the gold?
Yes.
Keeping it Simple
  • #1,564
  • Dec 19, 2006 1:02am Dec 19, 2006 1:02am
gbp long??
  • #1,565
  • Dec 19, 2006 1:07am Dec 19, 2006 1:07am
Quoting ademac
Habeeb is there a correlation I don't realise between gold and the cable or is the correlation Gold/USD and so you will get in on the cable as it is a cross with the USD and likely to produce the biggest move.

<o></o>Cheers
Ademac
Hi Ademac,
It's a correlation between gold and USD. Usually when the Gold price rises, the USD gets weaker. Cable reacts the best to this. I'll see If I can post an overlay of Gold/Cable later.

Take Care
Habeeb
Keeping it Simple
  • #1,566
  • Dec 19, 2006 1:12am Dec 19, 2006 1:12am
Quoting goodthings
gbp long??
Yup, but waiting for a nice spot to enter. Will be looking at price action on the lower time frames. I'm considering going short for a few pips now. Price is at the Daily Pivot ... 1.9495.
Keeping it Simple
  • #1,567
  • Dec 19, 2006 1:18am Dec 19, 2006 1:18am
Quoting Westie
Hi habeeb, can i ask what price you set a stop for on that monthly pin,
as you mentioned using a fixed 30 pip stop for your trades, but i figure that must be for smaller time frame, im trading that monthly on a demo and have a stop at 1.6025, id like to know yours, so i can compare and see if im on the right track.

Thanks for the help

westie
Hi Westie,
My stop is "10 pips + spread" above the Monthly Pin. I would normally have taken previous highs as stops, but there aren't any around. Our stops are 1 pip apart.
Keeping it Simple
  • #1,568
  • Dec 19, 2006 1:21am Dec 19, 2006 1:21am
Quoting sergiu
This is an article about gold and its corelation with the dollar:
http://www.kitco.com/weekly/paulvaneeden/mar072005.html
HTH
Thanx for the link Sergiu.
Keeping it Simple
  • #1,569
  • Dec 19, 2006 1:22am Dec 19, 2006 1:22am
Quoting habeeb
Yup, but waiting for a nice spot to enter. Will be looking at price action on the lower time frames. I'm considering going short for a few pips now. Price is at the Daily Pivot ... 1.9495.
habeeb if you are cosidering going short now what is your target profit & target entry for your long position? Tnx in advance bro!
  • #1,570
  • Dec 19, 2006 1:57am Dec 19, 2006 1:57am
Quoting 4x_Trader
habeeb if you are cosidering going short now what is your target profit & target entry for your long position? Tnx in advance bro!
Glad I didn't go short then. Went short now from 1.9532. Looking for a retest of the Daily Pivot to go long.
Keeping it Simple
  • #1,571
  • Dec 19, 2006 2:21am Dec 19, 2006 2:21am
Quoting habeeb
Glad I didn't go short then. Went short now from 1.9532. Looking for a retest of the Daily Pivot to go long.
Wow, freaky move there. Placed my trade, went away a bit, and now price is at the weekly pivot. Still holding the short. Might still get away with a breakeven trade.
Keeping it Simple
  • #1,572
  • Dec 19, 2006 2:45am Dec 19, 2006 2:45am
Quoting habeeb
Glad I didn't go short then. Went short now from 1.9532. Looking for a retest of the Daily Pivot to go long.
This is very funny. I'm still waiting for a retest of the daily pivot to enter long, and price is already trading 100 pips higher. What's even funnier, is that gold has hardly moved. Time for a break.
Attached Image
Keeping it Simple
  • #1,573
  • Dec 19, 2006 4:12am Dec 19, 2006 4:12am
This move started with a pin bar. Is it going to end with this one?
Attached Image
Keeping it Simple
  • #1,574
  • Dec 19, 2006 5:35am Dec 19, 2006 5:35am
Habeeb,
It must be a day for PIN bars as the seem to be everywhere i look today Gold, GDP/USD, USD/CHF. Am only demoing until I understand what i am doing properly, but it does give one heart to stick at it. There has been some major moves today but gold seems to be going nowhere, well just goes to show me that these markets will do what they want when they want and that trading is all about probabilities, not certainties.


Cheers
Ademac
  • #1,575
  • Dec 19, 2006 6:43am Dec 19, 2006 6:43am
Quoting ademac
Habeeb,
It must be a day for PIN bars as the seem to be everywhere i look today Gold, GDP/USD, USD/CHF. Am only demoing until I understand what i am doing properly, but it does give one heart to stick at it. There has been some major moves today but gold seems to be going nowhere, well just goes to show me that these markets will do what they want when they want and that trading is all about probabilities, not certainties.

Cheers
Ademac
That's totally correct.
Looks like Gold is taking a breather... but it will certainly move.
Keeping it Simple
  • #1,576
  • Dec 19, 2006 12:26pm Dec 19, 2006 12:26pm
Gold update...
Attached Image
Keeping it Simple
  • #1,577
  • Dec 19, 2006 12:28pm Dec 19, 2006 12:28pm
nice moves as we expected . Unless you tried to trade the news this morning where a lot of people got creamed. PA on these larger time frames kept you out of it.

Thanks for the update on Gold Habeeb.

Mike
  • #1,578
  • Dec 19, 2006 2:37pm Dec 19, 2006 2:37pm
Hey everyone,

What are you guys thinking about the EURCHF.
We have Bearish bias on the monthly (due to Pin bar) and today it really tested that high point but failed.

There's a big H4 sell Pin that happened and now we have a Trible Bar low.
I figure if it breaks through that it'll be good for some pips.
The Daily could form a pin by the end of the day which would be a good sign for everyone who's thinking (or already in) short.
  • #1,579
  • Dec 19, 2006 2:40pm Dec 19, 2006 2:40pm
This 4hr Pin Bar looks tempting. At the top of a rising wedge. I think I'll take it with a 30 pip stop.
Attached Image
Keeping it Simple
  • #1,580
  • Dec 19, 2006 3:34pm Dec 19, 2006 3:34pm
Hi!

Since Habeeb mentioned GBPJPY can be quite a meanie, I wanted to show the last two trades I took on it. Turns out the first one was an excellent (perhaps A?) trade, but I closed it early and the second one happened today and once again I wussed out too soon.

There is a very, very important lesson here: LET YOUR PROFITS RUN. :S
Can't emphasize this enough for these cross-pairs...
Trail a stop under the daily and let that catch it for example...
A good place for a stop once it passed my 0.0 fib line would have been just below that TBH that price formed there at 228.98, I can see that now in hindsight...but we're always smarter then

The trick is that these Yen crosses basically really only know one direction as long as the BOJ rates are low and steady, and that is up.
So taking trades on these pairs after getting bullish pins or IB breaks seems to be the way to go. Shorting seems fatal in almost all cases.

Chart attached.

Best wishes,

SeekingLight
Attached Image
Trust price. Know yourself.
40 traders viewing now