james16 Chart Thread | Page 1047 | 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

  • #20,921
  • Feb 10, 2009 11:30am Feb 10, 2009 11:30am
Quoting arcus
Thanks for the kind words Ghous. About the Eur/Gbp, it broke the 0.88 level but it's still early to determine whether it could make a good BUOB or not.

Here's another setup on Gbp/Chf. If it could close below the PPZ, would make a good BEOB IMO. Comment pls.
I believe . . .
  • #20,922
  • Feb 10, 2009 11:33am Feb 10, 2009 11:33am
Quoting arcus
Thanks for the kind words Ghous. About the Eur/Gbp, it broke the 0.88 level but it's still early to determine whether it could make a good BUOB or not.

Here's another setup on Gbp/Chf. If it could close below the PPZ, would make a good BEOB IMO. Comment pls.
Damn! That thing dropped like a tonn of bricks....I see some crazy whipsaws around...not the best of trading times,

Be careful with your trades guys...
I believe . . .
  • #20,923
  • Feb 10, 2009 11:38am Feb 10, 2009 11:38am
Quoting ghous
Damn! That thing dropped like a tonn of bricks....I see some crazy whipsaws around...not the best of trading times,

Be careful with your trades guys...
Yup. I drastic move on U/J, E/J, and E/U. I haven't done trading my live acc. for 2 weeks now, not in the mood lol Just been doing demo with J16 stuff. Any ideas why the sudden whipsaw? Spread on my IBFX does not increase, weird lol since whenever there's a whipsaw, usually the spread getting larger. I'm thinking of changing broker next year maybe.
  • #20,924
  • Feb 10, 2009 11:45am Feb 10, 2009 11:45am
Quoting arcus
Thanks for the kind words Ghous. About the Eur/Gbp, it broke the 0.88 level but it's still early to determine whether it could make a good BUOB or not.

Here's another setup on Gbp/Chf. If it could close below the PPZ, would make a good BEOB IMO. Comment pls.
I'm looking at the GBP/CHF as well. That was a thing of beauty going up to the 1.74 level. I wanted to get in way back at the 1.69 level but couldn't find the right PA to get me in. It just kept climbing and I knew it was going to hit 1.74. Where else would it have gone?

Anyway I'm with ya on this. If it starts to drop, I'm looking at 1.63 as the next major daily ppz. What do you think?
  • #20,925
  • Feb 10, 2009 12:08pm Feb 10, 2009 12:08pm
strong PPZ area, let's see if we turn back into support
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 18 KB
  • #20,926
  • Feb 10, 2009 12:12pm Feb 10, 2009 12:12pm
Quoting Jigsaw
I assume thats some sort of futures thing ? The only thing that gives me that idea is the "Globex" . . . Dunno really lol .

Answered your first question above. Careful though, like anything new backtest them in conjunction with whatever current method you are using and see where they fit in

EDIT - Matrixdogg - Check your PM's
Thanks for the link Jig... I got your PM and will answer tonight. I am at work right now and swamped. Trying to get caught up so we can leave on a ski trip Thursday. Thanks again...MG
  • #20,927
  • Feb 10, 2009 12:31pm Feb 10, 2009 12:31pm
Quoting mbqb11
strong PPZ area, let's see if we turn back into support
Indeed sir
Attached Image
  • #20,928
  • Feb 10, 2009 12:35pm Feb 10, 2009 12:35pm
Quoting mbqb11
strong PPZ area, let's see if we turn back into support

Im watching this one too Mike, If PA confirm it, I will taken...
  • #20,929
  • Feb 10, 2009 12:36pm Feb 10, 2009 12:36pm
Quoting mbqb11
strong PPZ area, let's see if we turn back into support
I've got a similar area as well. Seems like all the pound pairs are lining up close to ppz's. So what sort of PA would you look for to go long? A bounce and retest? Pin? I'm sure there are several but nothing too clear would show up on the daily so one would have to look at a lower time frame, no?
  • #20,930
  • Feb 10, 2009 12:53pm Feb 10, 2009 12:53pm
Quoting G550
I've got a similar area as well. Seems like all the pound pairs are lining up close to ppz's. So what sort of PA would you look for to go long? A bounce and retest? Pin? I'm sure there are several but nothing too clear would show up on the daily so one would have to look at a lower time frame, no?

It broke few days ago and it's about to retest it...I'll be looking for PA confirmation on H1 like PB, DBLHC, IB, BOB...

I would likte to see a good PB here....
  • #20,931
  • Feb 10, 2009 1:04pm Feb 10, 2009 1:04pm
Quoting arcus
Yup. I drastic move on U/J, E/J, and E/U. I haven't done trading my live acc. for 2 weeks now, not in the mood lol Just been doing demo with J16 stuff. Any ideas why the sudden whipsaw? ....
Bulls trap, leakage of the plan? "Financial Stability Plan: Deploying our Full Arsenal to Attack the Credit Crisis on All Fronts. Today, our nation faces the most severe financial crisis since the Great Depression. It is a crisis of confidence, of capital, of credit, and of consumer and business demand..."

Language like that adds to volatility and confuses the heck out of investors.
That's why it's best to sit on the sideline or trade PAs near important ppz only and close to your chest.
PA is generous with tips....
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.gif Size: 21 KB
Attached Image
  • #20,932
  • Feb 10, 2009 1:20pm Feb 10, 2009 1:20pm
..currently short e/j, u/j, g/j.
will close half when dow futures hit get close to 7800.
will close the rest and look for longs when dj futures approach 7500 (if?)
.
Attached Image (click to enlarge)
Click to Enlarge Name: dow.gif Size: 17 KB
  • #20,933
  • Feb 10, 2009 1:24pm Feb 10, 2009 1:24pm
Quoting trujillo1980
It broke few days ago and it's about to retest it...I'll be looking for PA confirmation on H1 like PB, DBLHC, IB, BOB...

I would likte to see a good PB here....
cable: there is also nice fib confluence of last two major swings around 4415, right in the ppz. would not be surprised by strong move back to 4620.
  • #20,934
  • Feb 10, 2009 1:52pm Feb 10, 2009 1:52pm
Quoting G550
I've got a similar area as well. Seems like all the pound pairs are lining up close to ppz's. So what sort of PA would you look for to go long? A bounce and retest? Pin? I'm sure there are several but nothing too clear would show up on the daily so one would have to look at a lower time frame, no?
I would be willing to look for PA on h1/h4/daily etc. It may come it may not. It may be today/tommorow/next week. The important thing to me is to correctly identify these important areas, and then be patient and let the market come to me. If PA is iffy, I pass. No need to chase this one. Many important areas will be hit today/tomm/next month/next year


Best
Mike
  • #20,935
  • Feb 10, 2009 1:58pm Feb 10, 2009 1:58pm
Quoting mbqb11
I would be willing to look for PA on h1/h4/daily etc. It may come it may not. It may be today/tommorow/next week. The important thing to me is to correctly identify these important areas, and then be patient and let the market come to me. If PA is iffy, I pass. No need to chase this one. Many important areas will be hit today/tomm/next month/next year


Best
Mike
1h pin is forming right now. it feels early though. would like to see it come back to 50% fib and right into the pivot zone. Anyone takes this one at break?
  • #20,936
  • Feb 10, 2009 2:09pm Feb 10, 2009 2:09pm
It was almost a nice looking pin.
  • #20,937
  • Feb 10, 2009 2:19pm Feb 10, 2009 2:19pm
Quoting mbqb11
I would be willing to look for PA on h1/h4/daily etc. It may come it may not. It may be today/tommorow/next week. The important thing to me is to correctly identify these important areas, and then be patient and let the market come to me. If PA is iffy, I pass. No need to chase this one. Many important areas will be hit today/tomm/next month/next year


Best
Mike
Here, here!! words to live by....We know there'll always be another setup.
  • #20,938
  • Feb 10, 2009 2:36pm Feb 10, 2009 2:36pm
I'm catching up guys! Just read post 10005. About 850 to go to be caught up to where I started reading this thread.

Happy trading everyone!

Josh
  • #20,939
  • Feb 10, 2009 2:48pm Feb 10, 2009 2:48pm
Quoting baddison
Here, here!! words to live by....We know there'll always be another setup.
Indeed....don't chase them...patience is the key
  • #20,940
  • Feb 10, 2009 3:01pm Feb 10, 2009 3:01pm
Quoting tehuringa
Indeed....don't chase them...patience is the key
Let the price show its path
33 traders viewing now