james16 Chart Thread | Page 1236 | 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

  • #24,701
  • Mar 24, 2009 4:24pm Mar 24, 2009 4:24pm
Some nice daily pins have formed on most JPY pairs. The one I'm thinking about playing EUR/JPY - swing high and it has recently broken through resistance at 130.

Also we have a Bullish Outside bar on GBP/AUD - at swing low so this one might work as well... we shall see.

What do you guys think about these two?

Rubin.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBP.AUD_3.25.09.JPG Size: 48 KB
Click to Enlarge Name: EUR.JPY_3.24.09.JPG Size: 43 KB
  • #24,702
  • Mar 24, 2009 4:25pm Mar 24, 2009 4:25pm
great g,

sounds like you have your head on right.

jim

Quoting gorubin
Thanks for all the help in this thread Jim. I'm becoming more and more of a believer in this method as I see it work every day.

I agree that using a small/tiny Live account can be better. It has been much better for me personally. I understand the tendency to "get jiggy with it" but the way I'm fighting with that is with proven results. So far trading daily pin bars / outside bars has proved profitable so I have increased my size a little bit. On the other hand my trading of 4HR and 8HR bars has been a struggle. I think I'm at breakeven or...
  • #24,703
  • Mar 24, 2009 4:27pm Mar 24, 2009 4:27pm
I continue asking myself why i didn't take this trade on the 4h TF yesterday...

What do you think? Was it a nice setup or not (A+, A, B, C..)?
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp tbhlc 23-03.gif Size: 16 KB
  • #24,704
  • Mar 24, 2009 4:38pm Mar 24, 2009 4:38pm
How about this setup on NZD/USD...

Two day pin with a long nose. Location looks good too, off of a weekly s/r level, clearly defined swing high, a few fib confluences, 150ema confluence, and room to move. What do you guys think? It also looks like there is a little bit of hidden bearish divergence from the last swing high in January.
Attached Image (click to enlarge)
Click to Enlarge Name: break.gif Size: 18 KB
  • #24,705
  • Mar 24, 2009 4:48pm Mar 24, 2009 4:48pm
Quoting scott087
How about this setup on NZD/USD...

Two day pin with a long nose. Location looks good too, off of a weekly s/r level, clearly defined swing high, a few fib confluences, 150ema confluence, and room to move. What do you guys think? It also looks like there is a little bit of hidden bearish divergence from the last swing high in January.
Seems to be an interesting setup, but probably i prefer if it will close as a BEOB (which can be considered a stronger signal, or not?)

Certainly it is located at a swing high, started at about 0,4850 and there was no pause; morevorer, on my chart i've a quite strong ppz at about 0,5650.
By the way, on my feed there is a divergence, but a bullish divergence..
  • #24,706
  • Mar 24, 2009 4:54pm Mar 24, 2009 4:54pm
Quoting bakko85
Seems to be an interesting setup, but probably i prefer if it will close as a BEOB (which can be considered a stronger signal, or not?)

Certainly it is located at a swing high, started at about 0,4850 and there was no pause; morevorer, on my chart i've a quite strong ppz at about 0,5650.
By the way, on my feed there is a divergence, but a bullish divergence..
The divergence i see in yellow is hidden bearish. The red is regular bullish which signaled the move up. If im wrong in this analysis someone please let me know.
Attached Image (click to enlarge)
Click to Enlarge Name: break.gif Size: 21 KB
  • #24,707
  • Mar 24, 2009 5:13pm Mar 24, 2009 5:13pm
Quoting scott087
How about this setup on NZD/USD...

Two day pin with a long nose. Location looks good too, off of a weekly s/r level, clearly defined swing high, a few fib confluences, 150ema confluence, and room to move. What do you guys think? It also looks like there is a little bit of hidden bearish divergence from the last swing high in January.
Sorry my friend, it is not technically PB (look at the 2 day chart). the rules says:
1. close must be lower then the open of the a PB (see price action.pdf)
2. The body has to be inside the previous bar body. (mbqb11, mike religion)

so maybe it will work out, but I'll pass, there are better ones out there... check a/j...
Attached Image (click to enlarge)
Click to Enlarge Name: nzdu.gif Size: 29 KB
Attached File(s)
File Type: pdf price action.pdf   45 KB | 741 downloads
  • #24,708
  • Mar 24, 2009 5:18pm Mar 24, 2009 5:18pm
Ady27, I don't see why this is not a PIN bar If we consider that today is monday.
  • #24,709
  • Mar 24, 2009 5:27pm Mar 24, 2009 5:27pm
Quoting alter
Ady27, I don't see why this is not a PIN bar If we consider that today is monday.
First, if it looks like a pin it is....

technically:
1. it should be red. close lower then the open.
2. The body of the PB should be in the body of previous pin which in this case it is not.

Look at daily chf/j, it is the same situation.

Hope didn't confuse anyone, just following the foot-steps of our mentors.
  • #24,710
  • Mar 24, 2009 5:37pm Mar 24, 2009 5:37pm
Quoting james16
Many of you can never find a free way to demo futures other than on paper.

intraday is impossible for free.
OptionsXpress (http://www.optionsxpress.com/tool_ce...ual_trade.aspx) does many asset classes. They have demo too. I am not sure, however, whether Futures are available on demo. They seem to be a good company - they were recognised (including Barrons) as the Best Online Broker a number of years in a row. I never traded through them myself, though...
One Chart is Worth Ten Thousand Words.
  • #24,711
  • Mar 24, 2009 5:44pm Mar 24, 2009 5:44pm
Quoting ady27
Sorry my friend, it is not technically PB (look at the 2 day chart). the rules says:
1. close must be lower then the open of the a PB (see price action.pdf)
2. The body has to be inside the previous bar body. (mbqb11, mike religion)

so maybe it will work out, but I'll pass, there are better ones out there... check a/j...
technically speaking the open and close must only be within the prior bar, not the body.

I personally prefer(but it isn't a hard rule) to have the open and close within the previous body, and it is always better if that close is lower then the open. NOT a hard fast rule though


Mike
  • #24,712
  • Mar 24, 2009 5:47pm Mar 24, 2009 5:47pm
Quoting mbqb11
technically speaking the open and close must only be within the prior bar, not the body.

I personally prefer(but it isn't a hard rule) to have the open and close within the previous body, and it is always better if that close is lower then the open. NOT a hard fast rule though

Mike
yes master
  • #24,713
  • Mar 24, 2009 5:49pm Mar 24, 2009 5:49pm
I'm reminded of this passage:

The work that I do ye shall do and greater works than these
Patience + Humility + Study = Success
  • #24,714
  • Mar 24, 2009 5:50pm Mar 24, 2009 5:50pm
Hi,

I assume most here are using a broker where the daily bar closes when NY closes. Am I right?
If so, can you tell me which broker to open an MT4 demo account with.
Note, I'm not looking for broker recommendations. I just want to get similar data to this thread.

Thanks in advance,
Honest Bill
  • #24,715
  • Mar 24, 2009 6:00pm Mar 24, 2009 6:00pm
Quoting Honest Bill
Hi,

I assume most here are using a broker where the daily bar closes when NY closes. Am I right?
If so, can you tell me which broker to open an MT4 demo account with.
Note, I'm not looking for broker recommendations. I just want to get similar data to this thread.

Thanks in advance,
James uses IBFX, so most in here use it. The other popular one is FXpro because of the earlier close(now 6pm est) and amount of securities available. Not everyone trades but simply charts with an mt4

Mike
  • #24,716
  • Edited 8:23pm Mar 24, 2009 6:04pm | Edited 8:23pm
Quoting benem
Hallo Jaroo i have a question for you.....Do you enter with the two positions at the same time or you split the entries at different conditions?
i hope you understand my question.

Thank you.
Enter with two position at the same time. Buy stop, in this case.
Indicators show the past. Price Action "Indicates" the future.
  • #24,717
  • Mar 24, 2009 6:29pm Mar 24, 2009 6:29pm
My feed closed the day and gave a nice pinbar on the EUR/JPY, BUT... look at the conflicting pinbar on the 4hr chart.

Experts, what to look for in this situation?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pb_ej1.gif Size: 15 KB
Click to Enlarge Name: pb_ej2.gif Size: 13 KB
  • #24,718
  • Mar 24, 2009 6:34pm Mar 24, 2009 6:34pm
a Better Entry is nearby.
  • #24,719
  • Mar 24, 2009 6:35pm Mar 24, 2009 6:35pm
Quoting james16
im gonna talk about this post by jarroo again.

"A HIGH QUALITY PA SETUP IS A HIGH MOMENTUM SETUP AS WELL".

ive been trying to say that in an understandable manner for nearly 5 years and he just did it in one sentence.

the sheer fact of that statement is why so many people that have gone down this james16 chart thread road have found some success.

i cant force that into your brain.

YOU MUST LIVE AND EXPERIENCE IT ON YOUR OWN.

JIM
Thanks Jim.

This Price break confirmation has saved me many, many times.
Indicators show the past. Price Action "Indicates" the future.
  • #24,720
  • Edited 7:11pm Mar 24, 2009 6:58pm | Edited 7:11pm
Quoting BWise
A 30-40 pip stop loss on Daily and 4HR charts? Isnt that a bit tight?

And you said above ' I'll give it a little time to prove itself'. How much is a little time in terms of pips?

I always value the insight of the senior members of this thread, yourself included.

Thanks
Yes it is very tight, especially on the Daily and Weekly. (Yes, I said Weekly).

Time to prove itself . . . this come with practise. But if Price doesn't break the trigger hard (robustly) pretty quick I won't wait for my stop loss to hit. I'll get out with a -7 pip loss if need be. Sure, there will and have been times where I'll get out with a -12 pip loss and it will run to the moon. And also the reverse has happen, where I'll get out and it will shoot through the ground.

Check out some of Jame16, Mike's and some others charts where an A+ trade took place. Most, if not all, gave up some good pips with zero draw down.

I've taken some pretty good "B" PA setups using this Price break confirmation as the lone qualifier. I haven't posted them for obvious reasons.

Jim
Indicators show the past. Price Action "Indicates" the future.
21 traders viewing now