james16 Chart Thread | Page 853 | 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

  • #17,041
  • Dec 17, 2008 8:06am Dec 17, 2008 8:06am
Quoting simoncs
it didn't have any confluence either.
were you refering to the breakout of channel and retest?
there was suffiecient confluence Simon,

The Pb occured right off 1.56 and the 50% fib (the most important fib of them all). the negitives that i found out had more to do with the shape, yes the Pb did'nt close as i would have liked it too, a close at or just above/below 1.56 would have made it extremely takable.

But again since location is far far more important the Pb could have been traded

I can bet Mr.trend took this...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.gif Size: 13 KB
Click to Enlarge Name: gu zoomed in.gif Size: 13 KB
I believe . . .
  • #17,042
  • Dec 17, 2008 8:18am Dec 17, 2008 8:18am
nice little trade i'm in on the break low of the bearish daily ib @ some weekly resistance.
1/2 off & stop to be @ the first support area. those bar highs on the 4hr.
this may turn into a nice trade if it doesn't come back on me.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euchf1.gif Size: 12 KB
Click to Enlarge Name: euchf2.gif Size: 13 KB
  • #17,043
  • Dec 17, 2008 8:38am Dec 17, 2008 8:38am
Quoting ghous
there was suffiecient confluence Simon,

The Pb occured right off 1.56 and the 50% fib (the most important fib of them all). the negitives that i found out had more to do with the shape, yes the Pb did'nt close as i would have liked it too, a close at or just above/below 1.56 would have made it extremely takable.

But again since location is far far more important the Pb could have been traded

I can bet Mr.trend took this...
i can see what you mean - i had the same drawn in. The pin looked fine on my feed but, as the fib was lower than the open/close of the pin i dismissed it. Had it been further up the nose, or above it then i would probably have taken this.
  • #17,044
  • Dec 17, 2008 8:57am Dec 17, 2008 8:57am
Quoting rustyjeff
nice little trade i'm in on the break low of the bearish daily ib @ some weekly resistance.
1/2 off & stop to be @ the first support area. those bar highs on the 4hr.
this may turn into a nice trade if it doesn't come back on me.
Nice one Jeff
The break of the daily IB also meant the completion of a (not too pretty, I admit) 1-2-3 pattern on H1 (could also be seen as a H&S there). Unfortunately it didnīt come back to test the breakout area. I had a hunch but didnīt take it on a pure break...still watching a lot and learning

RM
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.gif Size: 28 KB
  • #17,045
  • Dec 17, 2008 9:00am Dec 17, 2008 9:00am
Quoting ghous
there was suffiecient confluence Simon,

The Pb occured right off 1.56 and the 50% fib (the most important fib of them all). the negitives that i found out had more to do with the shape, yes the Pb did'nt close as i would have liked it too, a close at or just above/below 1.56 would have made it extremely takable.

But again since location is far far more important the Pb could have been traded

I can bet Mr.trend took this...
I took this 4h pb trade. As you say Ghous, I saw a nice confluence with 1.56, the 50% fib and just shy of a ppz. The bar closed as a bearish pb on my feed (Alpari) by just 2 pips. What feed are you guys using?

My target was just above the 38% fib line at 1.5390 = a nice 1:1.2 P/L ratio. Could have taken half off at this level and rode the rest down to the next major ppz marked by the purple line, but hey, hindsight is 20:20, and profit is profit

Chart is marked below with my levels.

As an aside, there's a lovely 4hr pb forming right off that PPZ now for a move north. With the current trend, this could be a nice trade.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd 171208 4h.gif Size: 19 KB
History will be kind to me, for I intend to write it - Winston Churchill
  • #17,046
  • Dec 17, 2008 9:14am Dec 17, 2008 9:14am
Quoting ghous
there was suffiecient confluence Simon,

The Pb occured right off 1.56 and the 50% fib (the most important fib of them all). the negitives that i found out had more to do with the shape, yes the Pb did'nt close as i would have liked it too, a close at or just above/below 1.56 would have made it extremely takable.

But again since location is far far more important the Pb could have been traded

I can bet Mr.trend took this...
Ghous! Well said. Thanks
You must have TP by now..! have you?

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #17,047
  • Dec 17, 2008 9:20am Dec 17, 2008 9:20am
Wow! That 4h pb I mentioned i my post above triggered quickly. My entry was at 1.5478 with stop set below the low of the bar at 1.5241. From a quick analysis I thought we might get some resistance around the prior bar lows 1.5560-1.5580, so I set a sell limit at 1.5570 to close out half of my position. That has already triggered and my stop is now at be.

I'm now going to try and let the rest of this run, but where to? The next major PPZ I have marked on my chart is at 1.6600, although it would have to get past 1.6 to reach it. I'll be debating this one in my head for the next couple of hours I think!
History will be kind to me, for I intend to write it - Winston Churchill
  • #17,048
  • Dec 17, 2008 9:52am Dec 17, 2008 9:52am
Quoting Almfx
Ghous! Well said. Thanks
You must have TP by now..! have you?

ALM
I did'nt take the trade ALM, I am already in quite a few good ones, could afford to pass by this "average" setup.


Anyways took half off my Ej Pb trade finally at 126.
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 10 KB
I believe . . .
  • #17,049
  • Dec 17, 2008 9:54am Dec 17, 2008 9:54am
Quoting Pie Trader
Wow! That 4h pb I mentioned i my post above triggered quickly. My entry was at 1.5478 with stop set below the low of the bar at 1.5241. From a quick analysis I thought we might get some resistance around the prior bar lows 1.5560-1.5580, so I set a sell limit at 1.5570 to close out half of my position. That has already triggered and my stop is now at be.

I'm now going to try and let the rest of this run, but where to? The next major PPZ I have marked on my chart is at 1.6600, although it would have to get past 1.6 to reach it. I'll be debating...
Good for you, let's see if you can manage this well
I believe . . .
  • #17,050
  • Dec 17, 2008 10:05am Dec 17, 2008 10:05am
Nice levels, anyone looking at this?
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 18 KB
  • #17,051
  • Dec 17, 2008 10:07am Dec 17, 2008 10:07am
1 hour pin formed on Gold 1 hourly. against trend though, anyone comment ?
  • #17,052
  • Dec 17, 2008 10:09am Dec 17, 2008 10:09am
Quoting ghous
Good for you, let's see if you can manage this well

Well the second half has been stopped out at be, so I guess I called the initial resistance level correctly. Shame it didn't have more momentum to power through, but up a fair amount of this pair today, so can't grumble. Well I can, but no-one would listen!
History will be kind to me, for I intend to write it - Winston Churchill
  • #17,053
  • Dec 17, 2008 10:11am Dec 17, 2008 10:11am
Quoting advfntrader
1 hour pin formed on Gold 1 hourly. against trend though, anyone comment ?
Watching closely. I don't think it will break although I would love to see a pull back followed by a pin long.
  • #17,054
  • Dec 17, 2008 10:12am Dec 17, 2008 10:12am
Quoting Pie Trader
Well the second half has been stopped out at be, so I guess I called the initial resistance level correctly. Shame it didn't have more momentum to power through, but up a fair amount of this pair today, so can't grumble. Well I can, but no-one would listen!
be happy you got something out,

Nicely done!
I believe . . .
  • #17,055
  • Dec 17, 2008 10:13am Dec 17, 2008 10:13am
Quoting Pie Trader
Wow! That 4h pb I mentioned i my post above triggered quickly. My entry was at 1.5478 with stop set below the low of the bar at 1.5241. From a quick analysis I thought we might get some resistance around the prior bar lows 1.5560-1.5580, so I set a sell limit at 1.5570 to close out half of my position. That has already triggered and my stop is now at be.

I'm now going to try and let the rest of this run, but where to? The next major PPZ I have marked on my chart is at 1.6600, although it would have to get past 1.6 to reach it. I'll be debating...

using IG - on my feed the top of the bar is 15579 - so not a great looking pin for me.
  • #17,056
  • Dec 17, 2008 10:19am Dec 17, 2008 10:19am
Quoting ghous
be happy you got something out,

Nicely done!

Thanks, I'm defo happy with the result. It would be nice to get some more PA for a long on this pair, as that is my bias now. However, I'm not going to blinker myself with those thoughts, as that's when you start to see setup's that don't exist
History will be kind to me, for I intend to write it - Winston Churchill
  • #17,057
  • Dec 17, 2008 10:27am Dec 17, 2008 10:27am
Quoting simoncs
using IG - on my feed the top of the bar is 15579 - so not a great looking pin for me.
No, I can imagine not! I always try to have a couple open to compare. That's why the daily's always behave as, or closely to expected, because everyone is looking at the same thing. Still, I only play what I see, hopefully that will keep me in good stead.

IG's not on my list, so I'll have to check them out. Thanks Simoncs.
History will be kind to me, for I intend to write it - Winston Churchill
  • #17,058
  • Dec 17, 2008 10:32am Dec 17, 2008 10:32am
Gold pin looks like triggering. just watching it though
  • #17,059
  • Dec 17, 2008 10:35am Dec 17, 2008 10:35am
Quoting Pie Trader
Thanks, I'm defo happy with the result. It would be nice to get some more PA for a long on this pair, as that is my bias now. However, I'm not going to blinker myself with those thoughts, as that's when you start to see setup's that don't exist
Being biased is more good than bad. The reason is tht you give your thoughts a direction. you give your thoughts a DIRECTION not a [b]destination[/b[ i.e it's good that you think with 1 shcool of thought instead of battling with differnet rambling ideas to win a trade for you. It's often the trend that you helps you decide your biasm this is why it's your best friend in the markets .

It is often much more difficult to decide on a trade when you're unnecssarily trying to tangle yourself with short and long ideas. zoom out the higher tfs analyse the overall feel of the market decide your bias and go for it

Regards,
Ghous.
I believe . . .
  • #17,060
  • Dec 17, 2008 10:54am Dec 17, 2008 10:54am
Quoting ghous
Being biased is more good than bad. The reason is tht you give your thoughts a direction. you give your thoughts a DIRECTION not a [b]destination[/b[ i.e it's good that you think with 1 shcool of thought instead of battling with differnet rambling ideas to win a trade for you. It's often the trend that you helps you decide your biasm this is why it's your best friend in the markets .

It is often much more difficult to decide on a trade when you're unnecssarily trying to tangle yourself with short and long ideas. zoom out the higher tfs...

Wise words. I tend to do this anyway, but it's got part of my daily habits so I don't tend to think of it seperately. I will look at the markets each morning though, and on those that are near PPZ's or Fib's, I will decide if I'm only looking for long or short opportunities. That way you're not tempted by those small price action movements in the opposite direction.

Thanks for the reminder
Pie
History will be kind to me, for I intend to write it - Winston Churchill
110 traders viewing now