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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #24,501
  • Mar 23, 2009 9:00am Mar 23, 2009 9:00am
hey ghous,
i think i found one of your reversal pins on au, at 0.7, which is a strong ppz.
i didn't take it (i don't trust this signal yet), just interesting to observe.
my first tp would be at the marked area, around .6930
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  • #24,502
  • Mar 23, 2009 9:05am Mar 23, 2009 9:05am
There was a nice 8am 8HR Bullish Outside Bar on the USD/CHF this morning at swing lows from the recent move. Also nice divergence on the MACD.

Anyone else observed this one?
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  • #24,503
  • Mar 23, 2009 9:07am Mar 23, 2009 9:07am
Anyone took the long trade in UY? Is that a good A class trade that James16 will take? Pls advise.
Close half of my position at 97.00 and move my stop loss to BE. Hope it will be a good move.
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  • #24,504
  • Mar 23, 2009 9:07am Mar 23, 2009 9:07am
Quoting MPP
Hi Ghous or anyone with a better Pa understanding than me
no chart, but i see and IB on the daily for Eur/Usd, it's at an important area, for me - 50% fib on retracement, down TL, last 3 days have hung out in this zone.
one of the issues i have is the weekly bar from last week was huge and long, it went straight to the weekly pivot point and were still sitting there.

regards

MPP
Are we still?

We had a pair of bar highs just next to the IB at 1.375 on the daily. The only bullish movement we saw today was a retest of these highs. This is another setup that did exactly what it was supposed to...

Regards,
Ghous.
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I believe . . .
  • #24,505
  • Mar 23, 2009 9:12am Mar 23, 2009 9:12am
Quoting ghous
An IB I caught on the Eur/Gbp...
Nice! I took the exact same one and closed @ 0.9300 for some quick profit.

Ken
  • #24,506
  • Mar 23, 2009 9:14am Mar 23, 2009 9:14am
Quoting pakiestra
Thank you Ghous for your answer and kind words.
I'm sorry I've caused so much of a fuss with my setups. Ok let's call them "setups" and then I will remove quotation marks when somebody more senior will think it's time for it.
So far I'm learning. I know, there are 2 strategies (a conservative and aggressive). I want to give them both a try, I hope it's not a crime isn't it ?
Two separate demo accounts are for them to be tested. I know that in reality I won't be trading two accounts, hence I will have to make up my mind. Before I do...
I hear you loud and clear, Pak, and think what you are doing is a great idea. I look at the charts and see so many setups that were validated (i.e., entry triggered), then retraced against, and then work out fabulously, and an aggressive entry on the retrace would have paid off in spades. I for one want you to keep us posted on your results. Good luck!
  • #24,507
  • Mar 23, 2009 9:20am Mar 23, 2009 9:20am
Quoting nonick
hey ghous,
i think i found one of your reversal pins on au, at 0.7, which is a strong ppz.
i didn't take it (i don't trust this signal yet), just interesting to observe.
my first tp would be at the marked area, around .6930


Keep your observation going

Regards,
Ghous.
I believe . . .
  • #24,508
  • Mar 23, 2009 9:22am Mar 23, 2009 9:22am
Quoting alter
Thank you ghous for your opinion. It was just 1% of my account. I trade H4 as I don't see any good setups on daily. In fact I had only 2 daily trades this month. This kind of trades don't help my confidence
alter
I agree with Ghous. I looked at that setup that went against you and said "ouch." It looked good to me too but just went against you. Oh well..... At least you traded a nice setup. I lost 8% last week, in part by trading a marginal setup. Its a new week now, though!
  • #24,509
  • Mar 23, 2009 9:27am Mar 23, 2009 9:27am
Quoting seboileroom
Hi everyone;

As you may know that i have embarked some time ago on compiling this thread. i spent many weeks almost lost in this huge document and not sure where or how to begin.
Hey Seb.
The links don't work for me. All the links have "...." in them. Anything I should know or how I can fix it?
  • #24,510
  • Mar 23, 2009 9:27am Mar 23, 2009 9:27am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Ghous, I have too many loss trades so far, each loss is a piece of learning experience. you know something, buddy, when one behaves aggressively, it's better to remember the painful yesterday, thanks for the comment, I will keep a watch on it.

By the way, looking into your chart, it seems your trigger is probably the breakout of the inside bar high? I ever tried many time to trade IB setup, had too many bad situations when trade the breakout of the inside bar high. I this time am thinking about the strategy of pulling the trigger upon the open of the next session or even aggressively at the retracement. your comments, please?



Quoting ghous
Wow Krue, you must have forgotten your cad/Jpy loss already

(Dunno where is Jarroo today, I can bet we would have seen some 10 white "trademark" treats from him by now. He took the Uj too...SHOW UP DUDE!)
  • #24,511
  • Mar 23, 2009 9:34am Mar 23, 2009 9:34am
Quoting gorubin
There was a nice 8am 8HR Bullish Outside Bar on the USD/CHF this morning at swing lows from the recent move. Also nice divergence on the MACD.

Anyone else observed this one?
yes took this bar as my entry for breakout from rectangle.

also used this Beob on eurcad for the break of HnS pattern.
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  • #24,512
  • Mar 23, 2009 9:47am Mar 23, 2009 9:47am
Took a pinbar imho in a important support.
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What does not kill me makes me stronger. Friedrich Nietzsche,
  • #24,513
  • Mar 23, 2009 9:55am Mar 23, 2009 9:55am
Quoting Goozman
Hey Seb.
The links don't work for me. All the links have "...." in them. Anything I should know or how I can fix it?
The contents of the links are already included in the document in their order. However, here is a post that contains the first group of the links where you can connect to any of them:

http://www.forexfactory.com/showthre...2331&page=1550

It is Post No. 23250 of Jduester.

Seb
  • #24,514
  • Mar 23, 2009 10:09am Mar 23, 2009 10:09am
This pinbar, noted as bar 2 was talked about earlier today. The chart shows my findings over the past few weeks testing 1990-2005 data for some of the major pairs. Hope this finds relevance for some of you. I know it has for me. Of course, don't take my word for it... test it yourself too!

Josh
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Click to Enlarge Name: CADJPY 032309_4hr2.GIF Size: 59 KB
  • #24,515
  • Mar 23, 2009 10:13am Mar 23, 2009 10:13am
I've also noticed this especially on hourly. pinbar after a strong bullish bar fails....you have to ask yourself, WHY would the strong bullish bar retrace immediately within such a short timeframe !!


Quoting Jduester
This pinbar, noted as bar 2 was talked about earlier today. The chart shows my findings over the past few weeks testing 1990-2005 data for some of the major pairs. Hope this finds relevance for some of you. I know it has for me. Of course, don't take my word for it... test it yourself too!

Josh
  • #24,516
  • Mar 23, 2009 10:25am Mar 23, 2009 10:25am
Quoting ghous
Are we still?

We had a pair of bar highs just next to the IB at 1.375 on the daily. The only bullish movement we saw today was a retest of these highs. This is another setup that did exactly what it was supposed to...

Regards,
Ghous.
Nice chart, Ghous. I'm in a sell on the break of the daily IB. As it stands right now, my broker is showing the current daily bar as an outside bar. Whether or not it is bearish or bullish, we'll we've got the whole day for that to happen . If we get a low close today, that would put a lot of selling pressure and we may see 3330 very soon.
  • #24,517
  • Mar 23, 2009 10:30am Mar 23, 2009 10:30am
Quoting advfntrader
I've also noticed this especially on hourly. pinbar after a strong bullish bar fails....you have to ask yourself, WHY would the strong bullish bar retrace immediately within such a short timeframe !!
The answer would be very simple. Strong daily PPZ, nice looking PB and no immediate S/R below the PB.
I understand that the reason why don't to take the trade can always be found, especially if the trade doesn't play out as expected.
  • #24,518
  • Mar 23, 2009 10:53am Mar 23, 2009 10:53am
Quoting seboileroom
Contributors: Jduester (Main contributor, thank you very much), SeekingLight, mbqb11 (AKA Mike) and many others;

Thank you all;

Seb


Hi Seb,

What program is requiered to open those files?

Thanks,

Juan
  • #24,519
  • Mar 23, 2009 10:56am Mar 23, 2009 10:56am
Quoting seboileroom
The contents of the links are already included in the document in their order. However, here is a post that contains the first group of the links where you can connect to any of them:

http://www.forexfactory.com/showthre...2331&page=1550

It is Post No. 23250 of Jduester.

Seb
Seb cool stuff thanks for taking the time, I am sure many appreciate it
  • #24,520
  • Mar 23, 2009 10:57am Mar 23, 2009 10:57am
Quoting juribe2
Hi Seb,

What program is requiered to open those files?

Thanks,

Juan
Hey Juan

They are zip files with PDF in them. Just use winzip, or camUnzip

Mike
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