james16 Chart Thread | Page 775 | 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

  • #15,481
  • Nov 18, 2008 7:40pm Nov 18, 2008 7:40pm
There is an I4B on the daily AUDUSD chart.

  1. It's next to the support zone; and
  2. There is the MACD divergence.

My bias is long for this one, considering the piercing pattern on the weekly.

Ken

Attached Image
  • #15,482
  • Nov 18, 2008 7:43pm Nov 18, 2008 7:43pm
There is an I4B for USDCAD. It's below the resistance zone.

Ken
Attached Image
  • #15,483
  • Nov 18, 2008 9:27pm Nov 18, 2008 9:27pm
Major resistance coming up for Eur/Chf around 1.5325. Previous support zone and 50% retrace from the most recent weekly swing high. I'll be looking for Price Action setup to get short here.
Attached Image (click to enlarge)
Click to Enlarge Name: echf weekly.gif Size: 22 KB
  • #15,484
  • Nov 18, 2008 11:52pm Nov 18, 2008 11:52pm
Pin bar has broken on daily Eur/Gbp. It's with the trend, but not at S/R or Fib level so not an "A" pinbar. I'll look to enter around .8405 level. Not much else going on right now..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: egbp daily.gif Size: 14 KB
Click to Enlarge Name: egbp 4hr.gif Size: 13 KB
  • #15,485
  • Nov 19, 2008 12:07am Nov 19, 2008 12:07am
A trade I am in. Entered at blue line yesterday.

61.8 retrace of weekly BUOB which is also a PPZ area clear to see on 4 hour TF.

In with very small stop below the daily BUOB sat right on top of 61.8 fib ret.

Stop now at BE.
Attached Image (click to enlarge)
Click to Enlarge Name: ftse.gif Size: 16 KB
  • #15,486
  • Nov 19, 2008 1:11am Nov 19, 2008 1:11am
I know some of you got those triangle/flag patterns on your radar. How you gonna play them , will you play breakout or wait for the retest which dont have to happen if momentum gains. I've got Eur/usd , Eur/jpy and Usd index on my radar. As for me i am ready for shorts and longs but would favour a stronger correction move.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy.GIF Size: 6 KB
Click to Enlarge Name: eurusd.GIF Size: 7 KB
Attached Image
  • #15,487
  • Nov 19, 2008 1:39am Nov 19, 2008 1:39am
Quoting Greenhaze
I know some of you got those triangle/flag patterns on your radar. How you gonna play them , will you play breakout or wait for the retest which dont have to happen if momentum gains. I've got Eur/usd , Eur/jpy and Usd index on my radar. As for me i am ready for shorts and longs but would favour a stronger correction move.
I'll do the re-test.

If momentum get's carried away it doesn't matter. There's often second chances. That's my view here.
Bundy's status today: "Waiting..."
  • #15,488
  • Nov 19, 2008 1:41am Nov 19, 2008 1:41am
Hi Green

I am patiently watching the same setups that you have on your radar. They seem to be winding up quite nicely so we will have to wait and see what happens. Every trader is different so just play them your own way. I personally like to wait for a BPC pattern before entering the market, as this helps to avoid fakeouts.

Good luck man,

berti
PA is where its at!!
  • #15,489
  • Nov 19, 2008 2:11am Nov 19, 2008 2:11am
Can somone explain me what is '123 reversal setup' and 'BPC pattern'.
The first one was from Rustyjeff and the other one from bertie123. I read the thread from the 1st page but dont remembert this stuff.
  • #15,490
  • Nov 19, 2008 2:19am Nov 19, 2008 2:19am
Milhali,

A BPC pattern means Breakout, Pullback and Continuation. So for example the triangle formation which is currently on EurUsd and EurJap 4hr charts, we wait for a breakout of the triangle and then a pullback to the triangle. Then, if the market continues in the original direction of the breakout, long or short, we enter the market. This is same as 123.

Hope this helps,

berti
PA is where its at!!
  • #15,491
  • Nov 19, 2008 2:25am Nov 19, 2008 2:25am
We could see DBHLC on EU 4H

and IB setup on the EJ 4H

Lets wait for the actual breakout of triangle before considering the use of the PA's here

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #15,492
  • Nov 19, 2008 3:03am Nov 19, 2008 3:03am
Thanks Bertie,
I am just not familiar with name BCP. Breakout, Pullback and Continuation I know.
  • #15,493
  • Nov 19, 2008 5:01am Nov 19, 2008 5:01am
Quoting Almfx
We could see DBHLC on EU 4H

and IB setup on the EJ 4H

Lets wait for the actual breakout of triangle before considering the use of the PA's here

ALM
Failed DBHLC and mostly consolidation markets!

Ok friends, how do traders effectively monitor the market (weekly,daily,4Hr TFs on 10 fx pairs and futures/metal). I am really having trouble looking for opportunities in all these market on 14.1 inch laptop screen(using mt4).

Any idea, please guide. Thanks

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #15,494
  • Nov 19, 2008 5:19am Nov 19, 2008 5:19am
very nice PA setup . chop pin ,off bb, div. done +15.

http://img223.imageshack.us/img223/5668/eum15mn8.gif
  • #15,495
  • Nov 19, 2008 5:28am Nov 19, 2008 5:28am
Quoting Almfx
Failed DBHLC and mostly consolidation markets!

Ok friends, how do traders effectively monitor the market (weekly,daily,4Hr TFs on 10 fx pairs and futures/metal). I am really having trouble looking for opportunities in all these market on 14.1 inch laptop screen(using mt4).

Any idea, please guide. Thanks

ALM
Hi Almfx

I have the same issue, as for now , whilst at work i can't keep screens open all the time. So i use a combination of alerts when price hits my S/R lines that i have drawn in, and i use one of the Price action alerts, that was posted on this forum (by Habeeb) i believe. This then emails me at work to let me know to check those particular markets.

If you need further info or the alert then PM me.

cheers

Simon

edit - should add here - the alert also managed to help me blowup my account as i had it sending all timeframes. Now that i have turned those off it takes the temptation away for the lower tf. Even with the alert though i probably take less than 30% of the PA signals - they need to have other contributing factors - ie where they are located.
  • #15,496
  • Nov 19, 2008 6:30am Nov 19, 2008 6:30am
Quoting Almfx
Failed DBHLC and mostly consolidation markets!

Ok friends, how do traders effectively monitor the market (weekly,daily,4Hr TFs on 10 fx pairs and futures/metal). I am really having trouble looking for opportunities in all these market on 14.1 inch laptop screen(using mt4).

Any idea, please guide. Thanks

ALM
Hi Alm,

you are under now way liable to trade so many pairs and commodities if you can't handle them. We generally do feel like fewer pairs = fewer pips, which is not the case. as far as your money managment does'nt force you to look for four figure pips a month you should be very comfortable even with a single pair to watch, if you don't belive me search through the foru for Jacko's thread and you'll know what i am pointing out at , the guy never feels like trading anything other than the Eur/usd.

However the fact cannot be denied that mutliple pairs do allow you with more frequent opportunities to take the trade and thus you don't force your trades on limited pairs.

I watch 10 fx pairs on a 14 inch dumb monitor too, and have a 6 hour college 5 days a week so yes i am busy too, but that to me only means i miss 2-3 4H bars a trading day which i am perfectly fine with. It really is up to you and how you want to manage it.

Regards,
Ghous.
I believe . . .
  • #15,497
  • Nov 19, 2008 6:37am Nov 19, 2008 6:37am
Quoting Jankone
very nice PA setup . chop pin ,off bb, div. done +15.

http://img223.imageshack.us/img223/5668/eum15mn8.gif
I am not brave enough to have taken this kind of a trade, the choppiness and ranging on th 4H is enough to keep me far away from anything under the daily till we see the ranges break.
I believe . . .
  • #15,498
  • Nov 19, 2008 6:38am Nov 19, 2008 6:38am
Quoting ghous
I am not brave enough to have taken this kind of a trade, the choppiness and ranging on th 4H is enough to keep me far away from anything under the daily till we see the ranges break.
Damn how did i do that!!! lol! I am have been trying to figure out how to qoute an entire post along with the image, i have done it for the first time without knowing how i did it...

Anybody can help me?
I believe . . .
  • #15,499
  • Nov 19, 2008 6:42am Nov 19, 2008 6:42am
Pin in chop off bb,it's regular setup and it is gold , thx Ryan;-)
and im not patient for your h4 trades and be in market xx hours

Quoting ghous
I am not brave enough to have taken this kind of a trade, the choppiness and ranging on th 4H is enough to keep me far away from anything under the daily till we see the ranges break.
  • #15,500
  • Nov 19, 2008 6:49am Nov 19, 2008 6:49am
Hey Simoncs & Ghous. Thanks for the replies

It is true that we can be successful trading only few fx pair, but as Iam conservative with my trades, Iam more comfortable spreading my risks with opportunities from more pair or markets. I would really like to know how traders like Jim and mike would manage looking at variety of markets (just out curiosity, so that beginers like me get some taste for the monitoring setup). Thanks

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
182 traders viewing now