james16 Chart Thread | Page 430 | 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

  • #8,581
  • Jan 4, 2008 9:53am Jan 4, 2008 9:53am
Quoting moneybags
It's interesting how both of these scenarios happened with the same pair today. It's a crazy market sometimes.
I was thinking the same thing... !! But on the other hand... I think Seeking has the upper hand... he had more reason to be SHORT over all then us just taking a daily PB...

Look at last weeks weekly PB on CAD/JPY too... another reason to have been short...
  • #8,582
  • Jan 4, 2008 10:02am Jan 4, 2008 10:02am
Quoting moneybags
Since I dont get the CADJPY pair on my charts, how much higher did price go from yesterday's high?
How many pips away from the high did you guys place your entries?
In NF yesterday high 110.97
today high 111.11


I entered when Price broke 4 Hr PB : 110.62
But Stop out : 108.60
  • #8,583
  • Jan 4, 2008 10:10am Jan 4, 2008 10:10am
At least my analysis is right.
Because some of you have same entry with me.

Eventhough I am loss, but I am learning from it.
  • #8,584
  • Jan 4, 2008 10:20am Jan 4, 2008 10:20am
Quoting jatis
Anyone know why this PB fail?
I am down 152 pips right now (luckly this is only demo)

I see a resistance around 111.17, may be I should long after price broke that level.or what I am doing is right, I just don't have luck right now.
Trading yen can be very profitable but you need to be aware of what equities are doing...., (at least I watch them...)
In many instances when they dive south, yen will strengthen vice versa.
Charts below are one of the reason why your pin failed....
Attached Images
  • #8,585
  • Jan 4, 2008 10:27am Jan 4, 2008 10:27am
Quoting Tiki Trader
Looks like raczek's idea of a push back towards 1.50 on EUR comes closer and closer to being true rather than fantasy....!!!!
Attached Image
  • #8,586
  • Jan 4, 2008 10:36am Jan 4, 2008 10:36am
Hi All,
Just a thought about the pin bar failures.....in my opinion it had more to do with the fact that those pairs are in the middle of severe downtrends driven by much larger timeframes...go check the weekly and monthly charts....

I just prefer to trade in the direction of the prevailing major trend and then even if I make a mistake on an entry, I have a very good chance of the trend bailing out my dumb mistake etc

just my 2 pips
Plan, Prepare, Execute, Repeat
  • #8,587
  • Jan 4, 2008 10:38am Jan 4, 2008 10:38am
Yes, this also is very true... !!!

Quoting swingtrade65
Hi All,
Just a thought about the pin bar failures.....in my opinion it had more to do with the fact that those pairs are in the middle of severe downtrends driven by much larger timeframes...go check the weekly and monthly charts....

I just prefer to trade in the direction of the prevailing major trend and then even if I make a mistake on an entry, I have a very good chance of the trend bailing out my dumb mistake etc

just my 2 pips
  • #8,588
  • Jan 4, 2008 11:12am Jan 4, 2008 11:12am
Quoting swingtrade65
Hi All,
Just a thought about the pin bar failures.....in my opinion it had more to do with the fact that those pairs are in the middle of severe downtrends driven by much larger timeframes...go check the weekly and monthly charts....

I just prefer to trade in the direction of the prevailing major trend and then even if I make a mistake on an entry, I have a very good chance of the trend bailing out my dumb mistake etc

just my 2 pips
very true... monthly and weekly rules.....

I thought about what you have said in this post and couldn't agree more. I also found another very nice thread on FF, started by Kevin. Here are some thoughts on how your idea of letting profits run might benefit traders, who struggle.... And yes, I'm still working on sitting on my hands when I'm 80-100 ps in profit....
  • #8,589
  • Jan 4, 2008 11:25am Jan 4, 2008 11:25am
Quoting raczekfx
Trading yen can be very profitable but you need to be aware of what equities are doing...., (at least I watch them...)
In many instances when they dive south, yen will strengthen vice versa.
Charts below are one of the reason why your pin failed....
What he's trying to say is that the DJI and futures only had a miniscule inside bar that broke down today while the JPY all displayed big big pins...this was one of the main reasons I didn't trust any of this, alongside with some personal convictions about the state of "mind" the market is in and how the whole movement "feels".

I'm getting esoteric, so suffice to say it's all not easy, but it WILL come in time.(sounding a bit arrogant and know it all here and I definitely am still wrong an infinite amount of times...I just try not to be hurt by what I do when I am and take advantage of when I am right..that's really all there is to trading, is there not? Humility, where are you..)

Personally I am getting scared that I am starting to already forget the clueless panicky days slowly and how it felt and what the biggest problems were day to day for me..I need that memory for teaching..so I will have to hurry in addressing it ASAP.
I sure hope they never do return and that I am well underway by now..I can still feel the abyss close by..I wonder if it will go away eventually.


I still blame raczekfx, he's only posting the charts to distract from his JPY selling!
Trust price. Know yourself.
  • #8,590
  • Jan 4, 2008 11:29am Jan 4, 2008 11:29am
Quoting swingtrade65
Hi All,
Just a thought about the pin bar failures.....in my opinion it had more to do with the fact that those pairs are in the middle of severe downtrends driven by much larger timeframes...go check the weekly and monthly charts....

I spent the better half of last night telling a friend that weekly and monthly dictates these pins fail eventually(I lean out a lot further with him since he isn't a forum of thousands who'll end up crucifying me for trying to predict price outcome before time - and I really do not KNOW...I just believe and try to trade my beliefs)...he kept insisting that PA is PA

I completely agree again ST =)

I think I've started down the path of a potential swingtrader given the last 3-4 months
Trust price. Know yourself.
  • #8,591
  • Jan 4, 2008 11:35am Jan 4, 2008 11:35am
Quoting SeekingLight
What he's trying to say is that the DJI and futures only had a miniscule inside bar that broke down today while the JPY all displayed big big pins...this was one of the main reasons I didn't trust any of this, alongside with some personal convictions about the state of "mind" the market is in and how the whole movement "feels".

I'm getting esoteric, so suffice to say it's all not easy, but it WILL come in time.(sounding a bit arrogant and know it all here and I definitely am still wrong an infinite amount of times...I just try not to be hurt by what I do when I am and take advantage of when I am right..that's really all there is to trading, is there not? Humility, where are you..)

Personally I am getting scared that I am starting to already forget the clueless panicky days slowly and how it felt and what the biggest problems were day to day for me..I need that memory for teaching..so I will have to hurry in addressing it ASAP.
I sure hope they never do return and that I am well underway by now..I can still feel the abyss close by..I wonder if it will go away eventually.


I still blame raczekfx, he's only posting the charts to distract from his JPY selling!
Exactly.. Thanks SL...
This is why I titled my yesterday's post 'short term scalps'...
  • #8,592
  • Jan 4, 2008 11:54am Jan 4, 2008 11:54am
Hey SL,

anyone who thinks the bigger timeframes don't drive markets has their head in the sand....when I traded for a proprietary trading firm several years ago, my std lot was 400 CME currency contracts....you simply can't move those on a 1 hr chart basis, daily maybe, mostly weekly setups......just go ahead and jump in front of that order if you dare....and I was a small fish...

people need to wake up and realize that ultimately these pairs are driven by global money flow due to interest rates....period.....these things trend sometimes for many months at a time and the longer anyone fights that fact, the more money they will contribute to college funds for the kids of those who trade with the trend

If anyone wants to know how the big guys really trade, go do a little research and see how the largest CTA firms trade....trend following....

I see the transformation in your posts over the last few months, you are indeed becoming THAT.....a SWINGTRADER


Many Pips
Plan, Prepare, Execute, Repeat
  • #8,593
  • Jan 4, 2008 11:57am Jan 4, 2008 11:57am
Quoting jatis
Anyone know why this PB fail?
I am down 152 pips right now (luckly this is only demo)

I see a resistance around 111.17, may be I should long after price broke that level.or what I am doing is right, I just don't have luck right now.
Not all pin bars end up working. We were in an immedaite downfall. There is no reason to trade against the trend.
I dream, therefore I become.
  • #8,594
  • Jan 4, 2008 11:58am Jan 4, 2008 11:58am
Quoting swingtrade65
Hey SL,

anyone who thinks the bigger timeframes don't drive markets has their head in the sand....when I traded for a proprietary trading firm several years ago, my std lot was 400 CME currency contracts....you simply can't move those on a 1 hr chart basis, daily maybe, mostly weekly setups......just go ahead and jump in front of that order if you dare....and I was a small fish...

people need to wake up and realize that ultimately these pairs are driven by global money flow due to interest rates....period.....these things trend sometimes for many months at a time and the longer anyone fights that fact, the more money they will contribute to college funds for the kids of those who trade with the trend

If anyone wants to know how the big guys really trade, go do a little research and see how the largest CTA firms trade....trend following....

I see the transformation in your posts over the last few months, you are indeed becoming THAT.....a SWINGTRADER


Many Pips
Amen.
I dream, therefore I become.
  • #8,595
  • Jan 4, 2008 12:13pm Jan 4, 2008 12:13pm
Quoting SeekingLight
CJ PB high was 110.97 on my feed.

From my journal:

"Got suckered out of CADJPY at 111.10 - exactly the spike high = my stop.
Very annoying, especially since I considered putting the stop at 112 above the s/r zone instead but then thought it wasteful. Instead I am now watching it trade 109 levels again after the touch-and-go."

I was short and planning to stay short...yet got spiked out on this pair..GJ and EJ and UJ all behaved...c'est la vie.
where was your entry? In the small Weekly pb?

and why i can't find your jornal, it is private?

thanks in advance
  • #8,596
  • Jan 4, 2008 3:15pm Jan 4, 2008 3:15pm
Quoting giraia_br
where was your entry? In the small Weekly pb?

and why i can't find your jornal, it is private?

thanks in advance
Yes, the weekly PB and a small secret entry before that

I was very much waiting for a retrace entry back into the move down and that PB was a real gift.

The journal along with all of my other stuff is over on the private forum / now new site which will be open for new subscribers come Tuesday/Wednesday(depending on your timezone I guess) again.

That and around 50 Million other highly interesting, educational and immensely helpful things that take weeks and weeks to digest and apply properly =)

*teaser* ;p

There's a reason I mention this of course.

I've been spending a lot of time helping out here, but as time demands increase my first priority will go towards helping build the new site into the nicest and best place there is for learning both the first steps as well as the finishing touches of forex trading.
It's given me so much and allowed me to break through to the other side, meet so many great individuals and basically changed everything. And I'm going to do my best to give back as much as I can in turn.

I've even tidy'ed up my charting and toned down my post frequency a bit to a surveyable amount!

I really can't wait until all the final features are in, it is truly going to be awesome, awesome..

Just wanted to say so that everyone understands when I can't put out the 50 posts a day on FF anymore that there's a good reason for it and it is that I'm still helping people out as much as I can, and not that I am snubbing anyone..obviously I'm going to try and keep things going here as well, as I have been, but the focus is clear.

Have a great weekend everyone!
Trust price. Know yourself.
  • #8,597
  • Jan 4, 2008 3:15pm Jan 4, 2008 3:15pm
Ok I'm still pretty new at this, but to me it seems like on weekly and monthly, CAD/JPY is in an uptrend not a downtrend like you guys are saying. That is why I didn't take the weekly pin (and because holiday trading was crazy last week). I'm seeing higher highs and higher lows on both timeframes. Yes it looks like a temporary down movement but the overall trend looks to be up to me. Now we have a lower high at 116, and if we get a lower low below 104-106 or so then it looks like downtrend is in full effect (head and shoulders or whatever else you want to call it. How are you guys determining that the monthly/weekly trend is down?

Quoting swingtrade65
Hi All,
Just a thought about the pin bar failures.....in my opinion it had more to do with the fact that those pairs are in the middle of severe downtrends driven by much larger timeframes...go check the weekly and monthly charts....

I just prefer to trade in the direction of the prevailing major trend and then even if I make a mistake on an entry, I have a very good chance of the trend bailing out my dumb mistake etc

just my 2 pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cjm.gif Size: 18 KB
Click to Enlarge Name: cj.gif Size: 19 KB
  • #8,598
  • Jan 4, 2008 3:19pm Jan 4, 2008 3:19pm
I agree main trend is UP... and yesterday we bounced off the trend line which was my principle reason for thinking the daily PB would work... I had not at that time yet noticed the weekly PB...

Quoting Betard
Ok I'm still pretty new at this, but to me it seems like on weekly and monthly, CAD/JPY is in an uptrend not a downtrend like you guys are saying. That is why I didn't take the weekly pin (and because holiday trading was crazy last week). I'm seeing higher highs and higher lows on both timeframes. Yes it looks like a temporary down movement but the overall trend looks to be up to me. Now we have a lower high at 116, and if we get a lower low below 104-106 or so then it looks like downtrend is in full effect (head and shoulders or whatever else you want to call it. How are you guys determining that the monthly/weekly trend is down?
  • #8,599
  • Jan 4, 2008 6:20pm Jan 4, 2008 6:20pm
Quoting Betard
Ok I'm still pretty new at this, but to me it seems like on weekly and monthly, CAD/JPY is in an uptrend not a downtrend like you guys are saying. That is why I didn't take the weekly pin ...
Even if we can't tell for sure is the cross is in an uptrend or downtrend you really have to hold me tight... to prevent me from taking shorts...
Broken BEOVB on weekly and retrace to PPZ and 50fib.., add PB to the mix and this is as conservative as it can get for me...
Attached Image
  • #8,600
  • Jan 4, 2008 6:23pm Jan 4, 2008 6:23pm
... same thing on the monthly chart..
We get beautiful Beovb, and then pullback to 50, ppz... and Booom
Attached Image
47 traders viewing now