james16 Chart Thread | Page 668 | 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

  • #13,341
  • Sep 3, 2008 3:25pm Sep 3, 2008 3:25pm
Quoting Rick E
I was going to try to make it thru the whole thread but I feel I will be better served to join the james16 group, if they will honor me so, to continue my education without having to filter out the noise of the nay sayers
From my experience, before I joined the group here's one thing that might help filter the noise. If you want an abridged version of just the important parts of the thread, click on James16's name to get to his info page on here, then click to view all posts by user and there you have it, chart after chart and explanations to all questions that have been answered even in other threads!

When you join the group even all of that will become more refined and clear. Videos made it all work for me and it's worth your time if you want to learn how to do this.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #13,342
  • Sep 3, 2008 3:32pm Sep 3, 2008 3:32pm
Look at this one, bouncing from weekly Trend line, it seems a nice one but too much downside momentum for me...
Attached Image (click to enlarge)
Click to Enlarge Name: EUR-USD Daily.JPG Size: 150 KB
  • #13,343
  • Sep 3, 2008 3:35pm Sep 3, 2008 3:35pm
Does anybody average their PB trades? I.e. if the trade kicks in at the break of the PB, instead of opening a full position (say 2% of the equity), one could open 1%-size position. If the price then retraces, one could keep adding further 0.25% at key retracement points (keeping SL the same).

That means that from SL point of view, you are averaging down, i.e. if the SL is finally hit, you'd lose less with averaged 2% compared to opening a 2% position at the very beginning.

From the profit point of view, you are averaging up - i.e. again, if your TP target is hit, the profit with averaged 2% is more compared to opening a full 2% position right away.

If the price does not retrace, one could add another 1% to the original 1% position at any convenient time (dropping down to a lower TF, for example).

Does that make sense?

Also, if you allocates, say, 2% of the equity to each trade, and considering that one would typically have less than 10 trades where B/E point is not reached, average trader would risk at any time 20% of his equity. So, instead of depositing full 100% with the broker, why not deposit just 40% (but allocate 2% of the FULL amount to each trade). If someone burns through 30-40% of the original equity, it's a good point (before "topping up") to take a break and analyze the situation anyway. Technically, that means one does not need to have as much of a starting capital, as is traditionally calculated. Any thoughts on the above?
One Chart is Worth Ten Thousand Words.
  • #13,344
  • Sep 3, 2008 3:37pm Sep 3, 2008 3:37pm
Quoting malvarezdel
Look at this one, bouncing from weekly Trend line, it seems a nice one but too much downside momentum for me...
On my chart I'd say it has around 40 to move up before hitting a wall so I'd take it if I could sit and monitor it, otherwise the GBP USD is also forming a small pin possibly and doesn't have the same resistance directly overhead, more of a freefall that it can climb back up from.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #13,345
  • Sep 3, 2008 3:51pm Sep 3, 2008 3:51pm
Hi all... This the setup I am watching for the time being... I know smaller timeframes are not as reliable as higher timeframes, but it seems a good trade to me with confluences. As you see on my chart 108.42 area is working as a nice PPZ. Price broke it again and tested it with the pin, it seems the PPZ area should work as resistance now. Other than when you check the daily chart, you can see price broke its support and it is working as resistance for now. We shall see. I have just placed my order below 4hr pin, my SL being the high of the pin...

Cheers,
Nuriksari
  • #13,346
  • Sep 3, 2008 3:54pm Sep 3, 2008 3:54pm
Here is the chart I have mentioned about,,,
Attached Image
  • #13,347
  • Sep 3, 2008 4:14pm Sep 3, 2008 4:14pm
Quoting bundyraider
I'm guessing that we are looking for a trendline.

1.4347 is a level that's going to put up a hell of a fight.

Let's not rule out a major trend reversal either. We can't go assuming.
made it to 4385 ... should we shake the eight ball now?
"Believe nothing you hear and half of what you see." Proverb
  • #13,348
  • Sep 3, 2008 4:16pm Sep 3, 2008 4:16pm
Thanks Thexter. I did do that as well and it helped a lot. I can't wait to see what the Group has to offer. I'm sure It will exceed my expectations many times over.
  • #13,349
  • Sep 3, 2008 5:41pm Sep 3, 2008 5:41pm
Keep an eye on this chaps
Attached Image
Money & Pain Respect the market, protect your capital, be patient
  • #13,350
  • Sep 3, 2008 5:54pm Sep 3, 2008 5:54pm
Quoting Forex007
"Only taking the bottom breaks" - because of the current downtrend?
Correct.

Bearish PA in a downtrend. Bullish PA in an uptrend.
Indicators show the past. Price Action "Indicates" the future.
  • #13,351
  • Sep 3, 2008 6:00pm Sep 3, 2008 6:00pm
Unless I'm reading something wrong this is as good a daily pinbar as you're ever going to get. It bounced from a PPZ, it's at an extreme low and there's also a bit of MACD divergence. The big problem is the strong downtrend that has been killing pinbars for the past few weeks so I am very reluctant to trade it.
It would be interesting to hear the views of the senior guys on this one and also the daily pinbar on the USCHF.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 60 KB
  • #13,352
  • Sep 3, 2008 6:02pm Sep 3, 2008 6:02pm
Quoting malvarezdel
Look at this one, bouncing from weekly Trend line, it seems a nice one but too much downside momentum for me...
Who wants to catch the falling knife?
Hindsight is 20/20
  • #13,353
  • Sep 3, 2008 6:14pm Sep 3, 2008 6:14pm
Quoting cosgrove
Who wants to catch the falling knife?

A butter knife is easy to catch.
Indicators show the past. Price Action "Indicates" the future.
  • #13,354
  • Sep 3, 2008 6:28pm Sep 3, 2008 6:28pm
Quoting pipsja
Unless I'm reading something wrong this is as good a daily pinbar as you're ever going to get. It bounced from a PPZ, it's at an extreme low and there's also a bit of MACD divergence. The big problem is the strong downtrend that has been killing pinbars for the past few weeks so I am very reluctant to trade it.
It would be interesting to hear the views of the senior guys on this one and also the daily pinbar on the USCHF.

A butter knife is still a knife. Ouch.

I would obviously wait for the break of the PB and see if it retraces to the left eye level.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #13,355
  • Sep 3, 2008 6:32pm Sep 3, 2008 6:32pm
How do i upload a chart...

HH
  • #13,356
  • Sep 3, 2008 6:43pm Sep 3, 2008 6:43pm
Quoting hharrington
How do i upload a chart...

HH
To post a chart:

If you’re a meta trader user just right click on the meta trader chart and go to “Save As Picture”.
Then “Select the image you would like to save:” Pick “Active chart” at “600 x 600 pixels” the click “OK”
Save anywhere you want i.e. Desktop.

Then when you enter to post comments go down to “Manage Attachments” click that.
Then click “Browse” to find your pic you want to attach, i.e. Desktop.
Click the pic you want and hit “Open”, Then hit “Upload”.
Wait for it to upload then close the “Manage Attachments” window. Then make sure you hit the “Submit Reply” button that is under the “Manage Attachments” button.
Done.
Indicators show the past. Price Action "Indicates" the future.
  • #13,357
  • Sep 3, 2008 6:47pm Sep 3, 2008 6:47pm
Quoting jarroo
A butter knife is still a knife. Ouch.

I would obviously wait for the break of the PB and see if it retraces to the left eye level.
Nice confluence in this area though

Attached Image (click to enlarge)
Click to Enlarge Name: eu_ppz.gif Size: 10 KB
  • #13,358
  • Sep 3, 2008 7:09pm Sep 3, 2008 7:09pm
Quoting NuckingFuts
Nice confluence in this area though

Yes indeed. It may turn into a rubber knife.
Indicators show the past. Price Action "Indicates" the future.
  • #13,359
  • Sep 3, 2008 7:29pm Sep 3, 2008 7:29pm
Actually i took the pin on EUR/USD... Lets see what will happen... It was at extreme low, nice long nose, at PPZ and weekly trendline... Only thing which makes me a little bit anxious is NFP day coming on Friday, I am gonna hold the positions, if it will be still active until NFP, then if it will be in profit I am gonna look to lock in profit or at BE.

Cheers

P.S. My pending order for the USD/Jpy 4hr pin bar is still waiting to be triggered...

Nuriksari
  • #13,360
  • Sep 3, 2008 7:39pm Sep 3, 2008 7:39pm
Hey guys, I just wanted to share what I see for USD/JPY on daily timeframe. It has just created an inside bar right off the PPZ. As we can see price has just broke the 108.42 resistant area and retested it for two days but could not close above it. The area should act as support for now. We will see, just a heads up...

Cheers,
Nuriksari
Attached Image
37 traders viewing now