james16 Chart Thread | Page 404 | 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

  • #8,061
  • Dec 5, 2007 5:26pm Dec 5, 2007 5:26pm
Down... no UP... no down.... no up... no down....


Quoting SeekingLight
If it helps, I think it most likely just completed a 5 wave sequence up there

Either that or there's gonna be another mild nudge above ;p

As for the EMAs and the Sunday bars and whatnot...most people say MAs are useless anyhow

And Dimmi - there's a weekly EMA that isn't prone to Sunday bars, too

Just saying. Now pssssshhhhhht, the EMA stuff is PF material

Besides, we're sposed to all be nekkid anyhow!

My question rather is.....what's the current trend of USDCAD? ;p
  • #8,062
  • Dec 5, 2007 6:06pm Dec 5, 2007 6:06pm
Quoting Tiki Trader
Sometimes stops have to be large... I don't know specifically here... but one can still trade when stops have to be large... the point is to only risk 1-3% of your account on the trade... and also to find set-ups where the targets will be longer than the stops.... that way small trades sizes will still add up to good gains... sometimes I am only trading 500-1000 units on a trade... but a 300 pip gain for me on a 500 unit trade can end up being a nice 1% added to my account !!!
I definitely understand the figure out stop then money management determines trade size procedure and I'm with you on that. I was just wondering what the technical rules where for entering a BUOEB, whether right off the break of the bottom or possibly wait for a retrace. I guess if it's the same as a pin then both are acceptable, just depends on your style.

USD/CAD also has good daily fib confluence....

By the way, this chart's a little small, how do I increase or decrease the size? Thanks for the help.
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 21 KB
  • #8,063
  • Dec 5, 2007 6:09pm Dec 5, 2007 6:09pm
Quoting piphitman
also,

In addition to the PB on the USD/CAD, with 40 mins to go, the 4hr charts are showing a DBHLC. Would that help validate a PB reversal if the DBHLC stays?
I would think so. Anyone else?

Sorry Tiki, just saw you posted the charts with Fib confluence before me.
  • #8,064
  • Dec 5, 2007 7:06pm Dec 5, 2007 7:06pm
Quoting ademac
Perspective.

Dimmi no offense, but I have done all my testing back, forward and live with it as it is so if it works why muck with it for the sake of political correctness. You will also open up the whole scenario of a completely different GMT TF so chart patterns change and you get PB's that before weren't PB and vice versa

I sum up with the words of the threads author.

As J16 has always said "Trade them as you see them".

Enjoy
Ademac
Sorry the different time frames thing is totally different. Sure, you might have a 4hr PB, and I have a Buob or whatever.. both are tradeable.

Do you know how a EMA is calculated? Espec. a 150 daily one.. you have lots and lots of days that are only say '3 hours'. That's why the figures are way off.

Now if as Seeking says EMAs are crap and don't need em etc , then who cares, my only point is if you were to say it's a PB off a EMA and that is a reason for taking a trade.. I am just saying 'is it' As it happens there may be other confluence, which is good.. anyway...

No offense either buddy! Let's just leave it at that.
  • #8,065
  • Dec 5, 2007 7:43pm Dec 5, 2007 7:43pm
Hello Friends,

I took the breakout of a 4H PB that formed today. Its the 3rd bar from the right hand side on the attached image. It formed due to the rejection of 150 EMA. I thought it was pretty good trade. But it went down only for about 20 pips and then bounced back. I couldnt understand why it bounced back. I dont see any kind of support there.

My stop loss got hit.

What else I should have checked for ?

Thanks
Cheelu

http://img.villagephotos.com/p/2007-...109/usdjpy.gif
  • #8,066
  • Dec 5, 2007 8:04pm Dec 5, 2007 8:04pm
Quoting cheelu
Hello Friends,

I took the breakout of a 4H PB that formed today. Its the 3rd bar from the right hand side on the attached image. It formed due to the rejection of 150 EMA. I thought it was pretty good trade. But it went down only for about 20 pips and then bounced back. I couldnt understand why it bounced back. I dont see any kind of support there.

My stop loss got hit.

What else I should have checked for ?

Thanks
Cheelu

http://img.villagephotos.com/p/2007-...109/usdjpy.gif
first off....my MT4 charts (ODL based on GMT) show no pinbar on that candle at all.

anyways, a few weeks ago I would have thought about taking that too but since I have been reading feb2865's thread at first glance it looks more like a typical "V" formation with a third higher hi of a trend continuation to me.

USD/JPY was going along nice and bearish till Abu Dhabi (sic) gave Citi a few billion dollars and I was in short myself and got snapped off when that happened.
trading naked.......
  • #8,067
  • Dec 5, 2007 9:03pm Dec 5, 2007 9:03pm
Hi,
A audusd pin bar on daily, at 150 EMA and daily pivot, but market is ranging. Anybody take this one and any comment?
Attached Image (click to enlarge)
Click to Enlarge Name: au.JPG Size: 66 KB
  • #8,068
  • Dec 5, 2007 9:05pm Dec 5, 2007 9:05pm
Pin Bar in traffic maybe... also, be careful of Pin Bars on 4 hour time frame... and I for one, place the bulk of my profits on Pin Bars on the length of the nose or the bar prior to the Pin Bar... I take a lot of profit then, and leave only a little to run... in other words, I might have taken profits at the bottom of that bar that broke the PB... left a little running so as not to lose much it price turns around like it did... and at any rate, when price had already gone in the right direction and then turning back the wrong way past my entry point... I would be getting VERY leery.... time to get out !!!!!

Just my opinion


Quoting cheelu
Hello Friends,

I took the breakout of a 4H PB that formed today. Its the 3rd bar from the right hand side on the attached image. It formed due to the rejection of 150 EMA. I thought it was pretty good trade. But it went down only for about 20 pips and then bounced back. I couldnt understand why it bounced back. I dont see any kind of support there.

My stop loss got hit.

What else I should have checked for ?

Thanks
Cheelu

http://img.villagephotos.com/p/2007-...109/usdjpy.gif
  • #8,069
  • Dec 5, 2007 9:09pm Dec 5, 2007 9:09pm
This just is not a good PB !!!! It is perhaps a PB... but not an A Trade... doesn't mean it may not work.... a couple of months ago I would have been all over this PB... I learned my lesson... when I got burned too many times....

This is not what trading a PB is all about... IMHO.....


Quoting scarlet
Hi,
A audusd pin bar on daily, at 150 EMA and daily pivot, but market is ranging. Anybody take this one and any comment?
  • #8,070
  • Dec 5, 2007 9:24pm Dec 5, 2007 9:24pm
Price breaking above the trendline for a shot at my target emas...??? red 62 ema and blue 800 sma

hopefully continuing to fullfill the inverted H & S pattern !!!
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.gif Size: 9 KB
  • #8,071
  • Dec 5, 2007 10:09pm Dec 5, 2007 10:09pm
Quoting SeekingLight
My question rather is.....what's the current trend of USDCAD? ;p
Seeking,

You took the words right out of my mouth. That is a very interesting question indeed. What is the trend on the USD/CAD? Well the move off the bottom is roughly 1158 (0.9056 to 1.0214) pips so far and retracments of that move up have varied between 100-300 pips or so. These retracements have been bouncing at marked fib levels on the way up I might add. So in essence they have been behaving as retracements of a bigger turn upward at least for the last 5 weeks now.

The last retracement of any size in the previous downtrend was for about 527 pips (1.0339 to 1.0866). So we have gone 2.2 times that previous retracement value. Also to note in a strong trending pair the 23.6% and 38.2% retracement areas are hit more often. We have stretched that to the 61.8% area now. Although there is the 38.2% retracement from the entire move down from (1.1876 to 0.9056) around 1.0130 area to consider. But the downward trend is starting to show signs of weakening. So far we are now testing what Ademac has already said and we are also testing a weekly downward TL around the 1.0200 area. Also we should factor in that BOC has started to change there monetary policy outlook. When Central banks start changing rates it is rarely a one and done situation.

So to wrap all this up (since no one is paying attention anymore anyways...http://www.forexfactory.com/images/icons/icon10.gif) From a PA standpoint we have a very nice daily pinbar with a low of 1.0097 area. You have two options: Sell the breakout below the low or wait for a retracement and failure close to the 50% and 61.8% + previous consolidation area around 1.0150 to 1.0175. For me I will wait for the retracement because I agree with Seeking more about another move upwards before we come back down for a nice retracement. Then the process starts all over again. Sorry this was so long I was just thinking out loud is all.
Attached Images
  • #8,072
  • Dec 6, 2007 2:50am Dec 6, 2007 2:50am
Quoting Tiki Trader
Price breaking above the trendline for a shot at my target emas...??? red 62 ema and blue 800 sma

hopefully continuing to fullfill the inverted H & S pattern !!!
xxxJPY is goan to hell an' no doubt bout it pawdna ;p

I counter your HNS with a counter HNS / double-top-to-come! ;p

Let's see how long UJ can hold 109.50-111.20 and whether it will do yet another spike.

I just can't imagine 114 levels...and if I can't dream it, I can't beam it
Trust price. Know yourself.
  • #8,073
  • Dec 6, 2007 6:16am Dec 6, 2007 6:16am
OK OK... you are right way more often than I am.... so let's see...

I'm just readin my chart... haven't read yours yet... ( and I wish you would've posted one )

But I think I see what you mean... But I'm stickin to my guns... until it misfires...

I have no trade on it yet... so I lose nothing... but i'd like to trade if we get above the trend line...

Quoting SeekingLight
xxxJPY is goan to hell an' no doubt bout it pawdna ;p

I counter your HNS with a counter HNS / double-top-to-come! ;p

Let's see how long UJ can hold 109.50-111.20 and whether it will do yet another spike.

I just can't imagine 114 levels...and if I can't dream it, I can't beam it
  • #8,074
  • Dec 6, 2007 6:55am Dec 6, 2007 6:55am
Quoting BeachBum
findcount.......

Read the e-book first, then skim the original thread and check-out my 4 hour chart Fozzy-style trading.

Successful Fozzy-style trading requires that a person make a decision about HOW they will apply the principles of this method and then faithfully stick with that strategy regardless of what the market does. Determination and patience are necessities. You have to trade like a robot!

I Fozzy trade everyday (as do many others) and it works!
how do i check out your trading style ? i have the e-book......it's 17 pages long, right ? just checking we're talking about the same e-book.

i read a couple pages so far and seems really simple..........without so many fancy indicators..........

MOST IMPORTANTLY, IT MUST WORK..............trade like a robot.........now, that's tough for me.......
  • #8,075
  • Dec 6, 2007 7:12am Dec 6, 2007 7:12am
Quoting raczekfx
If I were not in the trade right now, I'd simply skip it, even though it will probably slide to 1.4520 area...
..
Will this become a 4hr PB..? Will find out in a couple of hours...
Attached Image
  • #8,076
  • Dec 6, 2007 7:38am Dec 6, 2007 7:38am
Quoting findcount
how do i check out your trading style ? i have the e-book......it's 17 pages long, right ? just checking we're talking about the same e-book.

i read a couple pages so far and seems really simple..........without so many fancy indicators..........

MOST IMPORTANTLY, IT MUST WORK..............trade like a robot.........now, that's tough for me.......
Yes it's 17 pages and there is an addendum that was added near the end of that thread that includes my post incorporating PA to Fozzy-style trading. Take a look at the thread in the 1KT Trading Room (search my started threads). It is simple but requires trading without deviation from the method..........tough sometimes, but profitable. I suggest you take your time and learn the basics; being comfortable with this strategy is important.
  • #8,077
  • Dec 6, 2007 7:48am Dec 6, 2007 7:48am
OK... for me, I consider my Head and Shoulders idea on GBP/USD completed !!! A bit quicker than aticipated, but done...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 13 KB
  • #8,078
  • Dec 6, 2007 8:04am Dec 6, 2007 8:04am
  •  TrevA
  • | Joined Oct 2007 | Status: my brain has a mind of its own | 166 Posts
Hi All

Did anybody take the EURUSD trade today?

http://www.forexfactory.com/showpost...postcount=7950

As predicted, the price bounced of 1.4520's. It went down to 1.4529 and pulled back quickly.

I don't want to speak too soon but expect 1.4960 to be tested again in the next few weeks.

Great price action too so watch this trade carefully for a fake out.

TrevA
  • #8,079
  • Dec 6, 2007 8:07am Dec 6, 2007 8:07am
  •  TrevA
  • | Joined Oct 2007 | Status: my brain has a mind of its own | 166 Posts
Quoting Tiki Trader
OK... for me, I consider my Head and Shoulders idea on GBP/USD completed !!! A bit quicker than aticipated, but done...

Good call!

TrevA
  • #8,080
  • Dec 6, 2007 8:11am Dec 6, 2007 8:11am
Quoting Tiki Trader
OK... for me, I consider my Head and Shoulders idea on GBP/USD completed !!! A bit quicker than aticipated, but done...
Completed as in target hit, right?
Attached Image
Trust price. Know yourself.
93 traders viewing now