james16 Chart Thread | Page 467 | 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

  • #9,321
  • Edited 6:05pm Feb 28, 2008 6:01pm | Edited 6:05pm
Quoting raczekfx
I know, some of the FF ‘newsmans’ discussed quick resurrection of carries and equities, but after listening to mr. b talk today and paulsons bailout objections.. I’m not so sure ..
Whatever… , Price broke daily TL and is currently sitting on ppz. Can we get down to 206 ... daily pa could suggest that. Let’s watch and see .
I agree. 207.15'ish may give some trouble, but once that goes, for me personally, I'm looking for 204.59'ish as a longer-term downside target.

I'd post a chart as to why, but I'm not at my own pc.
The method behind my madness is simply that it's Jan's low and that my overall bias is short currently.
Edit: {Sorry, I keep getting my days mixed, plus it's gone past midnight where I am, so...}213.22'ish was rejected again, severely on 27-02-08, that really tipped it for me, for now.
Carpe Divitiae
  • #9,322
  • Feb 28, 2008 6:34pm Feb 28, 2008 6:34pm
FYI......
Attached Image (click to enlarge)
Click to Enlarge Name: dsd.gif Size: 49 KB
  • #9,323
  • Feb 28, 2008 6:56pm Feb 28, 2008 6:56pm
Even when looking at 4h chart you think it broke support without blinking, if u go down a LOT of times you will see that price makes a pull back to the support (or resistance) when it breaks it.

(BY NO MEANS IM SAYING GO AND TRADE THE 5 MIN CHART, but isn't that beautiful? ? )

Matty
Attached Image (click to enlarge)
Click to Enlarge Name: ninja gbpjpy 4h 5 min.PNG Size: 64 KB
  • #9,324
  • Feb 28, 2008 7:37pm Feb 28, 2008 7:37pm
Quoting fsiltd
...I'm looking for 204.59'ish as a longer-term downside target.

It’s actually short term target for me.. Europe opens in just few hours…
let's watch dow's futures for clues... (202?..)
  • #9,325
  • Feb 28, 2008 7:59pm Feb 28, 2008 7:59pm
Quoting raczekfx
It’s actually short term target for me.. Europe opens in just few hours…
let's watch dow's futures for clues... (202?..)
Well, there's that affliction of having daytraded alot again lately. 4H is the highest I've looked in about a month .
One man's long-term, is another man's short-term. {mine's the long one remember.:}

I would contemplate 202.07'ish, hell if I'm gonna say it, maybe even 200.52'ish. Looking at a weekly chart.
It would only surmount to a "small loss" against Jan Low's. Depends again on your perspective of "time in" the market I suppose.
I can see psycho 200.00 looming on the weekly chart .
It's... like... a... magnet...
Carpe Divitiae
  • #9,326
  • Feb 29, 2008 4:54am Feb 29, 2008 4:54am
Hi,
I'm a major lurker here and love the thread.
Was a member of PF at the start but had to leave for other reasons.
Am studying hard now and just wanted some advice from you experts on this demo trade I'm currently in.

The questions is, where would you put your SL?
I know everyone might have a different view, but the views would be nice to hear.

I've previously put the SL above each retracement (marked on chart)
You will see my TP1, TP2, TP3 etc and I've now hit the next TP level.
I have other TP levels at/around 205.80 and again at 204.60/204.90

Would you set you SL to previous TP levels to lock in profit?

Cheers for any advice.
Colin.
Attached Image
Enter Signature
  • #9,327
  • Feb 29, 2008 7:21am Feb 29, 2008 7:21am
Quoting cologg
Hi,
I'm a major lurker here and love the thread.
Was a member of PF at the start but had to leave for other reasons.
Am studying hard now and just wanted some advice from you experts on this demo trade I'm currently in.

The questions is, where would you put your SL?
I know everyone might have a different view, but the views would be nice to hear.

I've previously put the SL above each retracement (marked on chart)
You will see my TP1, TP2, TP3 etc and I've now hit the next TP level.
I have other TP levels at/around 205.80 and again at 204.60/204.90

Would you set you SL to previous TP levels to lock in profit?

Cheers for any advice.
Colin.
I'm no expert, but I took g/j based on daily BEOV and at the same time shorted e/j, a/j, n/j and c/j. I would take some profit now and place my stops just above TP3 on your chart
Attached File(s)
File Type: pdf yentrades.pdf   99 KB | 1,777 downloads
  • #9,328
  • Feb 29, 2008 7:23am Feb 29, 2008 7:23am
Hi Colin,

If your asking for everyones strategies , expert or not, here's how I'm doing this right now...

Since there is little in the way of obvious trailing points on higher time frames at the moment...

(I've zoomed down to 5 mins here to give a clearer picture of the patterns)

I've scaled back 2/5 of my position when we got a strong reaction to the 76.4 Retracement. I've set my stop loss for the remaining position to 207.46, which allows for a Gartley pattern to play out at least . (the way I interpret them anyway)

There is a sell stop below todays low that will reinstate my full exposure again.

I'd still be in full, but one of my staple setups is when there is a strong reaction to the 76.4 retrace. (or even 61.8)

I'm keen on this blowing downwards considerabley from here. So I'll strengthen my holdings on any Price action on the higher time frames .

I'm keeping in mind the possibility of a retracement. Hence this scale-back after this pattern.

Cheers,
B
Attached Image (click to enlarge)
Click to Enlarge Name: stop loss gpyin.gif Size: 17 KB
Bundy's status today: "Waiting..."
  • #9,329
  • Feb 29, 2008 7:30am Feb 29, 2008 7:30am
By the way. If I'm stopped out I'm very likely to re-establish later once things are favourable again.

We're in the strongest move we've had for a few weeks. Without taking ANYTHING for granted , I'm mindful of this being able to continue much further down.

Let's keep an open mind tough.

EDIT: I'd have been reversing here now and forgetting the Gartley stuff if it weren't for the strong price bars on the Daily. The strong resistance at the 76.4 would have me trigger happy for a reversal. Let's wait and see!
Bundy's status today: "Waiting..."
  • #9,330
  • Feb 29, 2008 8:01am Feb 29, 2008 8:01am
Hi Friends,

Took this long pin bar trade , but got stopped out.
Looked good to me since it seemed to be holding support at trendline that I drew and also along the moving averages .

Longer term was up . Thats why i thought it was a good trade.intermediate trend was down.

Could someone please help me understand why i shouldnt have taken this trade ?

Thanks
have a good day
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzd_jpy_pin1.gif Size: 20 KB
Click to Enlarge Name: nzd_jpy_pin2.gif Size: 17 KB
  • #9,331
  • Feb 29, 2008 8:07am Feb 29, 2008 8:07am
Quoting cheelu
Could someone please help me understand why i shouldnt have taken this trade ?

You did an awesome job Cheelu!

You HAVE to take all good trades. You take them in the knowledge that you have the edge.

Sometimes they they give you a loss. This was one of those times.

You pay a "risk" premium for the chance of a better return. That's trading!

Edit: The pin you traded proved that price was respecting the MA and Trendline/support. That's the key, you have created a higher probability of success than someone who just blindly entered at the trendline.

Nite all.
Bundy's status today: "Waiting..."
  • #9,332
  • Feb 29, 2008 8:23am Feb 29, 2008 8:23am
Quoting cheelu
Could someone please help me understand why i shouldnt have taken this trade?
Very small pin nose maybe?
  • #9,333
  • Edited 8:38am Feb 29, 2008 8:28am | Edited 8:38am
Quoting cheelu
Hi Friends,

Took this long pin bar trade , but got stopped out.
Looked good to me since it seemed to be holding support at trend line that I drew and also along the moving averages .

Longer term was up . Thats why i thought it was a good trade.intermediate trend was down.

Could someone please help me understand why i shouldn't have taken this trade ?

Thanks
have a good day
well, my tl looks a bit different than yours... but regardless of how we draw it. It is always worth while looking at higher TF before pulling the trigger.
you took that pin on bearish daily bar after tl gave up. As Bundy said, not all pin works... You're probably only a technical trader and thats fine, but listening to what's happening in the kitchen helps sometimes...
I couldn't believe my ears when I heard mr. b saying that 'some banks will probably go under given current circumstances'... it was like Christmas present in February.... I had no choice but to sell house of yen crosses. Swissy crosses were hinting everyone for the last 3 days. Their PA simply gave feds away... i never go xx.jpy long when xxx/chf falls, but that's just me... good weekend everyone..
Attached Image
  • #9,334
  • Feb 29, 2008 8:57am Feb 29, 2008 8:57am
Raczek/Bundy
Cheers for replies. Much appreciated to get different views.
Always a pleasure to read your posts.
Enter Signature
  • #9,335
  • Feb 29, 2008 9:34am Feb 29, 2008 9:34am
not a frequent poster on this thread but every now and then i like to confirm with price action (if i should stay in trades, be careful etc...)

here if im not mistaken theres a double bar high lower close and currently an inside bar that will finish in 30 min if it stays inside the previous bar.

now the dbhlc is a serious consideration of a move down but unless other confirmations arises (trendlines, important areas, more price action...) i dont think its enough

i already have some shorts from teh 99's

but my question is this. should i wait for a break of the inside bar for more confirmation?

the way i see it is 1 price action pointing down then now the inside bar if broken to the downside could mean even more confirmation

what u guys think?

thanks
Attached Image (click to enlarge)
Click to Enlarge Name: dbhlc-ib.gif Size: 16 KB
  • #9,336
  • Feb 29, 2008 12:31pm Feb 29, 2008 12:31pm
Hi,

I've been reading this thread for a while now, trying to get to grips with price action. I understand (I think) the concepts of pin bars, outer bars etc and I've been watching some charts to see if I could predict where price was going to go based on price action, S/R etc. One chart I have been looking at is GBPCHF which seemed to have been stuck in a range between about 2.1800 and 2.1200 since mid January and then over the last three days it just seems to have plummeted out of this range to lows not seen since 1996. I've been looking at the charts and I can't really see anything to indicate that this was going to happen. Can anyone who was lucky enough to have been in this trade for the last few days help a newbie out with identifying the price action?

Cheers

Rob
  • #9,337
  • Feb 29, 2008 1:02pm Feb 29, 2008 1:02pm
Eltrot, Looking at the range that you have pointed out, I notice a DBHLC around the 2.1500 area. This stall for me was not enough to get in, but was more of an indication that price may be getting ready to break out, and continue trend. I set a sell stop at 2.1200, and just waited for the breakout. One could also be more conservative and wait for the breakout, and then look for PA at the PPZ around 2.1240 area if retrace. Good eye on the range, and if you can't watch it, set orders for the breakout.
Attached Image (click to enlarge)
Click to Enlarge Name: dbhlc.jpg Size: 69 KB
  • #9,338
  • Feb 29, 2008 1:12pm Feb 29, 2008 1:12pm
Quoting eltrot1979
Hi,

I've been reading this thread for a while now, trying to get to grips with price action. I understand (I think) the concepts of pin bars, outer bars etc and I've been watching some charts to see if I could predict where price was going to go based on price action, S/R etc. One chart I have been looking at is GBPCHF which seemed to have been stuck in a range between about 2.1800 and 2.1200 since mid January and then over the last three days it just seems to have plummeted out of this range to lows not seen since 1996. I've been looking at the charts and I can't really see anything to indicate that this was going to happen. Can anyone who was lucky enough to have been in this trade for the last few days help a newbie out with identifying the price action?

Cheers

Rob
Rob,
there were bearish outside bars on Windsor 4h, IBFX 4h and Oanda 3h timeframes.
As you can see, the bar before the bearish outsinde bar is an inside bar with a very low close. The (not so good) pinbar before this inside bar is broken by the BeOB, which closes lower then all other bars. For me this indicated the break to the downside.
I am in and over +500 pips now.
You don't need to take all setups, there will be more around the corner, for sure.
Kpt
Attached Image
  • #9,339
  • Feb 29, 2008 3:39pm Feb 29, 2008 3:39pm
Posting in Raczek mode. I.e. short and sweet http://www.forexfactory.com/images/icons/icon7.gif
Major PPZ?
What next?
Attached Image
Enter Signature
  • #9,340
  • Feb 29, 2008 4:02pm Feb 29, 2008 4:02pm
Weekly BEOVB on the Aus/Jpy right at previous swing high. I'll be happy if it can get down to 90 again. Lots of weekly PA on other yen pairs as well.
Attached Image (click to enlarge)
Click to Enlarge Name: aj.gif Size: 21 KB
356 traders viewing now