james16 Chart Thread | Page 387 | 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

  • #7,721
  • Nov 20, 2007 7:36am Nov 20, 2007 7:36am
here you go tiki

from my watch list
Attached Image
  • #7,722
  • Nov 20, 2007 7:40am Nov 20, 2007 7:40am
Yeah I am watching that too...

I thought it felt like I was being watched... !!! I hope no one is laughing tooooo hard !!
  • #7,723
  • Nov 20, 2007 8:47am Nov 20, 2007 8:47am
Quoting mbqb11
here you go tiki

from my watch list
Are you watching for a break of the low?

I know this is an evil question(it'd mean there's a target ), but do you see more than 300 pips (initial) wiggle room once it breaks?
Trust price. Know yourself.
  • #7,724
  • Nov 20, 2007 8:48am Nov 20, 2007 8:48am
Quoting SeekingLight
Are you watching for a break of the low?

I know this is an evil question, but do you see more than 300 pips wiggle room once it breaks?
yes I am watching a break low

and i see infinite pips wiggle room

confirmed break low and I am in, a break of 228.50 resumes the bulls from my charts
  • #7,725
  • Nov 20, 2007 8:56am Nov 20, 2007 8:56am
Quoting mbqb11
yes I am watching a break low

and i see infinite pips wiggle room

confirmed break low and I am in, a break of 228.50 resumes the bulls from my charts
KKK, thanks...well, then we all will just have to push real hard to make it happen!

I've got my line drawn a bit higher, I think the playground is all the way up to the 235 area, but ultimately this month is looking verrrrrrrry heavy indeed =)
Trust price. Know yourself.
  • #7,726
  • Nov 20, 2007 9:10am Nov 20, 2007 9:10am
mike, thanks.

another q.. when you have setups like pin bars, beovb,buovb, dbhlc,dblhc etc.. do you treat all setups the same with the same kind of sl/tp? or would you rate, say pin bars, as strongest, and then have a different way of setting sls and tps for the setups?

thks

Quoting mbqb11
I am from the school of trailing stops(cut ur losers, ride the winners). Most of my trade mgmt is like this. In the PF I have a thread dedicated to this that blew up b/c of just the reason you speak of. Depending on the timeframe I trade, is the type of exit strategy I use. For example when i trade the 4hr, I almost always use a 2/3 bar count(much like using the previous day, but instead I count back 2 bars from the last closed bar). There is more too it, but that is the basics, and it works. This insures a pair is at least still trending in my favor. If we fail to make higher highs and higher lows in an uptrend the bar count will stop you out. Vice versa in a downtrend. It is a bit much to go into detail but maybe this will spark some ideas for you.

Mike
  • #7,727
  • Nov 20, 2007 10:47am Nov 20, 2007 10:47am
So I see this pretty Pin bar sitting on the top of the EURUSD 4h chart (IBFX feed.) I get ready to set my sell stop, TP, SL and sit back and collect the pips. Then, I look closer and decide maybe this is not easy pips and not an A or better trade. Is my analysis sound for a conservative newbish trader.

 

  1. Pin is against the trend
  2. Looks like possible resistance at 1.4736 giving only 24 pips and a 50ish pip sl
  3. No other confluence to my untrained eyes.

[IMG]file:///C:/Program%20Files/Interbank%20FX%20Trader%204/templates/eurusd1120.gif[/IMG]Chart attached

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd1120.gif Size: 23 KB
  • #7,728
  • Nov 20, 2007 11:45am Nov 20, 2007 11:45am
Quoting coolshades
mike, thanks.

another q.. when you have setups like pin bars, beovb,buovb, dbhlc,dblhc etc.. do you treat all setups the same with the same kind of sl/tp? or would you rate, say pin bars, as strongest, and then have a different way of setting sls and tps for the setups?

thks
a Good setup is a good setup. Pinbars just happen to be my favorite. My sl is always the high/low of th bar. I don't normally set TPs. Only on some (now) breakout plays. In general I always trail my stops. I don't really believe in targets that much.


Mike
  • #7,729
  • Nov 20, 2007 3:01pm Nov 20, 2007 3:01pm
I kinda like trading the indices now more than ever. S&p 500 and DJi. I also like oil.

the thing is, i love the volatility and the low cost
100% of traders are losers. Just that some win more than they lose!
  • #7,730
  • Nov 20, 2007 3:38pm Nov 20, 2007 3:38pm
this trade was posted a few pages ago here is an update on it, looking good. IB
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf chart.gif Size: 15 KB
  • #7,731
  • Nov 20, 2007 4:06pm Nov 20, 2007 4:06pm
Quoting MattL4417
this trade was posted a few pages ago here is an update on it, looking good. IB

Hey Matt,

you have drawn your fibs from right to left. It's always from the left of the chart to the right.

By the way could you explain your entries? I am still new myself so I dont see why you have two entries in the middle of a bar.

Chris
  • #7,732
  • Nov 20, 2007 4:31pm Nov 20, 2007 4:31pm
I suspect 1.5000 on EUR before long... is that when the big crash comes ? After that ???

I did not trade the breakout from the triangle... I was snoozing by then... I thought about placeing the order ahead... but I am chicken... you know, the order opens by just a pip, and then price zooms down to hit your stop...

sigh.......
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 9 KB
  • #7,733
  • Nov 20, 2007 4:34pm Nov 20, 2007 4:34pm
Quoting creeper
Hey Matt,

you have drawn your fibs from right to left. It's always from the left of the chart to the right.

By the way could you explain your entries? I am still new myself so I dont see why you have two entries in the middle of a bar.

Chris
well first off i am a beginner myself and have to say i barely know what i'm doing. but i'll explain what i tried to do. i tried to make the fib levels act as take profit levels. i don't know how to make a single trade take part profit yet on mt4 so i made multiple trades to do it. however as you pointed out i drew my fib levels wrong, thanks alot for pointing that out to me. i will change it and change the take profit on my entries.
I entered the trade based on the trend lines someone pointed out a few pages ago, but i made this post to update the IB supports the trade further now.
  • #7,734
  • Nov 20, 2007 4:36pm Nov 20, 2007 4:36pm
I am sure by now you know the answer to your question... BUT it is the kind of PB I would have had my eyes on too just a short while ago... now I have started to look for more... like that little IB after the PB... if that had broken DOWN... I would have traded...

Or just trading the PB by the rules... not entering before the break of the PB... that alone saves the day... !!

Quoting Caesar
So I see this pretty Pin bar sitting on the top of the EURUSD 4h chart (IBFX feed.) I get ready to set my sell stop, TP, SL and sit back and collect the pips. Then, I look closer and decide maybe this is not easy pips and not an A or better trade. Is my analysis sound for a conservative newbish trader.

  1. Pin is against the trend
  2. Looks like possible resistance at 1.4736 giving only 24 pips and a 50ish pip sl
  3. No other confluence to my untrained eyes.

[IMG]file:///C:/Program%20Files/Interbank%20FX%20Trader%204/templates/eurusd1120.gif[/IMG]Chart attached

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 11 KB
  • #7,735
  • Edited 4:53pm Nov 20, 2007 4:42pm | Edited 4:53pm
There a two ok PA-setups I have on my daily charts today.

Both are in the direction of the longer term trend. EURAUD has a pinbar off resistance but it is not a beautiful one like the ones mike posted many times before. EURCHF is a BEOB off resistance. Both setups are backed up by fibonacci levels in the near but I won't call these setups *A trades*. I'll probably take them with my demo account as trend continuation bars.

What do you guys think?

Chris
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurchf20.11.2007.gif Size: 23 KB
Click to Enlarge Name: euraud20.11.2007.gif Size: 22 KB
  • #7,736
  • Nov 20, 2007 4:47pm Nov 20, 2007 4:47pm
Yeah... this PB does not look half bad... !!!
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.gif Size: 10 KB
  • #7,737
  • Nov 20, 2007 5:17pm Nov 20, 2007 5:17pm
Quoting Tiki Trader
Yeah... this PB does not look half bad... !!!


Must be in a different time zone as I, as my IBFX feed looks more like a neutral bar.
  • #7,738
  • Edited 5:30pm Nov 20, 2007 5:17pm | Edited 5:30pm
Quoting creeper
There a two ok PA-setups I have on my daily charts today.

Both are in the direction of the longer term trend. EURAUD has a pinbar off resistance but it is not a beautiful one

Both setups are backed up by fibonacci levels

What do you guys think?

Chris
I can't see any sort of trend on EURAUD. My history only goes back to August 2003, but from that it appears to be an oscillating pair, not a trending pair.

Current direction for me still is mainly up. Next higher s/r around 1.68. Current s/r it's stuck at is 1.6575, but it seems to want to close above it..
Not a clear situation for me and the PB is too much more like a neutral bar. Open / close too much in the middle(92 / 144 pips).

I don't think the EURxxx pairs(any combination really) are currently that optimal to go short on.

My EURCHF is about to close as a BUOB off of channel support(not buying this pair).

I don't like anything I see anywhere currently, but that's because I'm in a foul mood.

Demo sounds good.
Attached Images
Trust price. Know yourself.
  • #7,739
  • Nov 20, 2007 5:46pm Nov 20, 2007 5:46pm
I agree with the EUR/CHF up move, in fact heres a study I sent out to my trade group earlier today. I cut out my company logo at the top and shrunk it down in paintshop, so the text looks a little weird from the shrinking. The original document is a pdf.

http://img99.imageshack.us/img99/5214/eurchffu5.png
The basis of a democratic state is liberty. ~ Aristotle
  • #7,740
  • Nov 20, 2007 6:07pm Nov 20, 2007 6:07pm
Quoting SeekingLight

My EURCHF is about to close as a BUOB off of channel support(not buying this pair).
Just wanted to clarify in case it was misunderstood(since you wrote "agree").
Yes it made a BUOB, yes there's a channel / supportish stuff.

But I don't think it will rise much. (If it does and it makes a bearish setup - then I'll take a look again)

I think it will eventually lose that channel. I'm very pessimistic about anything carryish at the moment and EURGBP is pushing it's luck. The tide will eventually turn again I suspect. Currently not much to go on more than a feeling, but hey, everyone gets a guess
Trust price. Know yourself.
356 traders viewing now