james16 Chart Thread | Page 972 | 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

  • #19,421
  • Jan 22, 2009 8:51pm Jan 22, 2009 8:51pm
Quoting ghous
Nice John,

It was a BEOB on my chart, but i don't see it on your's. Maybe you had a BEOB on another broker's feed...

I am interedted to know why you entered if it was the chart you posted on which you took the trade off...

Anyways congrats bro

Regards,
Ghous.
Hey Ghous,

Its Crown Forex data feed. Bdw, im entering the trade not only based on PA. Im also using the S/R level to reduce the risk taken.

As of this trade, last couple of days the bars break the 80.00 level thus im placing PO by risking 50pips around the 80.00 level. It goes well and currently secured 200pips while keep it running.

Im expecting it to touch back my TP at 76.00 which obviously will lead to USD/CHF pair that you guys said will move south WILL 1st heading to the north. Its great inside bar within a small range that you can play..

Lets watch..
  • #19,422
  • Jan 22, 2009 10:23pm Jan 22, 2009 10:23pm
Quoting mbqb11
PPZs can be done on any platofrm. It is just observing areas of support and resistance. They are not done by any indicator or what not.

Check these posts out by James(within an older post I made)

http://www.forexfactory.com/showthre...16#post2252116

Best

Mike
thank you very much mike, i truly appreciate it. i had thought that "ppz" meant "pivot point zone" but it really means "price pivot zone." so they are not classical pivot points, but just basic support & resistance levels that are either respected (price bounces off & retreats) or breaks thru and then resistance becomes support. right?
so...at what point do i know which way to go? at what point will i know that price is bouncing off resistance & retreating, so i go short or breaking up & thru and i should go long? is it all in the pa? or do you place orders above & below & wait to see which one gets filled? thank you again.
i have started reading the thread from the beginning, but i have a ways to go. & everyday there 10 more pages added to the thread. so i am reading the current posts as well in a way to try and keep up w/ what is currently going on. i am very thankful to you guys for answering all the same ole' questions over and over again. and for letting guys like me jump in and tag along.
  • #19,423
  • Jan 22, 2009 10:39pm Jan 22, 2009 10:39pm
Quoting dkmb92
thank you very much mike, i truly appreciate it. i had thought that "ppz" meant "pivot point zone" but it really means "price pivot zone." so they are not classical pivot points, but just basic support & resistance levels that are either respected (price bounces off & retreats) or breaks thru and then resistance becomes support. right?
so...at what point do i know which way to go? at what point will i know that price is bouncing off resistance & retreating, so i go short or breaking up & thru and i should go long? is it all in the pa? or do...

Hey DK

Yes PPZ is price pivot zone or the flip b/w support and resistance. Pivot points are floor trader pivots and are calculated using OHLC values.

As for how to trade them, there are many ways to integrate them in your trading. The easiest and most common is waiting for price to make its way to one and using PA to confirm that it is holding. Yes simple as that, just takes practice.

Here is the Usd/Cad

Notice the triple top. Resistance at 1.3. So now we look for a flip or PPZ to be created if we break above the highs here. So when price comes back to this area we look for PA to tip us off if it will turn into support.

Hope that helps

Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a3.gif Size: 10 KB
  • #19,424
  • Jan 22, 2009 10:43pm Jan 22, 2009 10:43pm
I, and many others, look for price action setups around a ppz. If the ppz overlaps a trend line, or fib--even better. If the session closes strongly above/below the support/resistance line, the ppz has been broken; it is time to look ahead for a retest of the ppz.

Good luck working your way through this thread. It's some of the best material available (in my opinion)!

Tyler

Quote
thank you very much mike, i truly appreciate it. i had thought that "ppz" meant "pivot point zone" but it really means "price pivot zone." so they are not classical pivot points, but just basic support & resistance levels that are either respected (price bounces off & retreats) or breaks thru and then resistance becomes support. right?
so...at what point do i know which way to go? at what point will i know that price is bouncing off resistance & retreating, so i go short or breaking up & thru and i should go long? is it all in the pa? or do...
skype: ststroud. let's talk trading.
  • #19,425
  • Jan 22, 2009 10:56pm Jan 22, 2009 10:56pm
pivot points are calculated as follows:

pp = (high + low + close)/3

the first support level:
s1 = (2 * pp) - high

and the first resistance level:
r1 = (2 * pp) - low

second support level:
s2 = pp - (high - low)

and the second resistance level:
r2 = pp + (high - low)

ok I don't know anybody who really uses these...
skype: ststroud. let's talk trading.
  • #19,426
  • Jan 22, 2009 11:48pm Jan 22, 2009 11:48pm
Quoting jarroo
You didn't wait for the break of these PBs? What retrace did you add on too?
I didn't wait for the break as it happened when I was just about to hit the hay, that is why I only traded half the size. Then re-added on the surges back down, somewhere around 50% of the original bar. It just looked good from the charts I was looking at. Plus it had divergence on the macd as well. That is what I was thinking anyway.
  • #19,427
  • Jan 22, 2009 11:58pm Jan 22, 2009 11:58pm
Quoting cluelessbroadband
I didn't wait for the break as it happened when I was just about to hit the hay, that is why I only traded half the size. Then re-added on the surges back down, somewhere around 50% of the original bar. It just looked good from the charts I was looking at. Plus it had divergence on the macd as well. That is what I was thinking anyway.
Very risky trade. The PBs look great I'll give you that. But they look whole lot better when they break. They could very well work out nicely for you.

This could be a nice trade or a very tough lesson to learn. Good luck to you.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #19,428
  • Jan 23, 2009 1:16am Jan 23, 2009 1:16am
chart
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf123.gif Size: 34 KB
  • #19,429
  • Jan 23, 2009 2:35am Jan 23, 2009 2:35am
nice profit..

2 consecutive win trades.. dig sources from here. Thanks James.

Bdw, my PO activated for USD/CHF. Will post chart later.

Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy.gif Size: 38 KB


  • #19,430
  • Jan 23, 2009 2:47am Jan 23, 2009 2:47am
the IB on the daily broke and i did enter - but have come out of it. Just not convincing me.
all the recent EUR data has come in positive as well

anyone else feeling fakeout?
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX EUR_JPY (15-DEC-08).png Size: 15 KB
  • #19,431
  • Edited 3:02am Jan 23, 2009 2:54am | Edited 3:02am
If this end up a pin....... it will be a good player

confluence of reason
Swing low
bounce off Downward channel support
good Pin size
Non traffic area
bounce of 2800(3pips away)


My first profit tgt will be at 1.2920 where there is Minor PPZ


It closed a Pin bar................

IBFX datafeed
Attached Image (click to enlarge)
Click to Enlarge Name: euro.gif Size: 16 KB
  • #19,432
  • Jan 23, 2009 2:56am Jan 23, 2009 2:56am
thats great john,

good start. a realistic goal can be 2 months without a loss or more. just gotta be picky with your entries and smart with your breakeven strategy.

jim

Quoting johnbaem
nice profit..

2 consecutive win trades.. dig sources from here. Thanks James.

Bdw, my PO activated for USD/CHF. Will post chart later.

Attachment

  • #19,433
  • Jan 23, 2009 3:03am Jan 23, 2009 3:03am
Quoting Naijafx
If this end up a pin....... it will be a good player

confluence of reason
Swing low
bounce off Downward channel support
good Pin size
Non traffic area
bounce of 2800(3pips away)


My first profit tgt will be at 1.2920 where there is Minor PPZ

IBFX datafeed
hey Nfx

was also looking at this and had my t/p just 5 pips below yours at a calculated support level - if it breaks

cheers

Simon
  • #19,434
  • Jan 23, 2009 3:24am Jan 23, 2009 3:24am
Anybody seen raczek?
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #19,435
  • Jan 23, 2009 3:28am Jan 23, 2009 3:28am
Quoting jarroo
Anybody seen raczek?
His placing buy earlier on this pair... I guess, he must already cut his loss.. His experienced people..
  • #19,436
  • Jan 23, 2009 4:53am Jan 23, 2009 4:53am
Hi guys,

Does anyone know of any 'quirks' or things to be aware of when trading EUCHF? Every time I take a trade on this pair I get my fingers burnt! Can anyone give me any advice on this pair?

Thanks,

berti
PA is where its at!!
  • #19,437
  • Jan 23, 2009 4:55am Jan 23, 2009 4:55am
Quoting bertie123
Hi guys,

Does anyone know of any 'quirks' or things to be aware of when trading EUCHF? Every time I take a trade on this pair I get my fingers burnt! Can anyone give me any advice on this pair?

Thanks,

berti
Gotta chart and the reasons why you took the trade(s).
Indicators show the past. Price Action "Indicates" the future.
  • #19,438
  • Jan 23, 2009 5:08am Jan 23, 2009 5:08am
Quoting james16
chart
James, I am quoting the last chart you put up, the break out on the USDCHG chart.

It appears that price was stuck between two fib levels for about a two week period on the daily chart you posted. Though I don't see a specific single bar PA example to trade against.

Did you put an order on each side of the box you have high lighted, and just wait for the first break out?

If so, then you got in long on the break above the box I am guessing.

Is this correct? Thank you for all your help!
  • #19,439
  • Edited 5:55am Jan 23, 2009 5:45am | Edited 5:55am
Quoting bertie123
Hi guys,

Does anyone know of any 'quirks' or things to be aware of when trading EUCHF? Every time I take a trade on this pair I get my fingers burnt! Can anyone give me any advice on this pair?

Thanks,

berti
Not sure of any 'quirks' but have gone long at 11630 on the break of the Daily IB. My first TP is at 11750 at which point I am going to move to BE.

There seems to be resistance at ~11680 now

Anybody else currently in this one?

EDIT: Sorry talking about UsdChf here!!!!
  • #19,440
  • Jan 23, 2009 5:46am Jan 23, 2009 5:46am
Quoting jarroo
Gotta chart and the reasons why you took the trade(s).
JArroo,

Having a bit of bother with my computer just now but will post when I get the chance.

Thanks,

berti
PA is where its at!!
45 traders viewing now, 2 are registered:
Gainfaciles
,
Zojahamad