james16 Chart Thread | Page 1281 | 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

  • #25,601
  • Mar 31, 2009 4:16pm Mar 31, 2009 4:16pm
Quoting raczekfx
nice....
this is what happens when you daydreaming....

.. a few sec too late
I would consider that a hard and fast break.
Indicators show the past. Price Action "Indicates" the future.
  • #25,602
  • Mar 31, 2009 4:17pm Mar 31, 2009 4:17pm
HnS with divergence, break PPZ, forming a beob

oh and maybe one forming on nzdjpy as well - but will have to leave it to you crazy cats to fight over as i'm off to bed before it breaks

oh hang on a sec now i can see 2 bar pins forming with divergence on audjpy, audcad - -maybe just a wee while longer then
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 24 KB
  • #25,603
  • Mar 31, 2009 4:22pm Mar 31, 2009 4:22pm
Quoting simoncs
HnS with divergence, break PPZ, forming a beob

oh and maybe one forming on nzdjpy as well - but will have to leave it to you crazy cats to fight over as i'm off to bed before it breaks

oh hang on a sec now i can see 2 bar pins forming with divergence on audjpy, audcad - -maybe just a wee while longer then

hmmm - now if you measure the head to the neckline = about 230pips
wack a fib on there - 230pips from the neckline down = 50fib + 150+365 ema
wouldn't that be a good place for a bounce?
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 27 KB
  • #25,604
  • Edited 4:41pm Mar 31, 2009 4:25pm | Edited 4:41pm
Could be a pin bar on the NZDUSD, through the 150EMA and at a pivot zone and some fib confluence. I see though theres a pivot zone below so I would be looking to move stop to break even quickly.
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-03-31_2221.png Size: 46 KB
Economists have forecast 9 out of the last 5 recessions
  • #25,605
  • Mar 31, 2009 4:35pm Mar 31, 2009 4:35pm
Quoting markmm
Could be a pin bar on the NZDUSD, through the 150EMA and at a pivot zone and some fib confluence? What do you guys think?
Good spot...LOL....what do I think? Maybe time to go long!...Now....
Ghost Rider - WWTBMD?
  • #25,606
  • Mar 31, 2009 4:39pm Mar 31, 2009 4:39pm
Quoting albchr
Good spot...LOL....what do I think? Maybe time to go long!...Now....
I was thinking short, but you go long if you want.
Economists have forecast 9 out of the last 5 recessions
  • #25,607
  • Mar 31, 2009 4:41pm Mar 31, 2009 4:41pm
Lolloollll......

Quoting raczekfx
I guess...LoL.... there goes my Diana 2..
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #25,608
  • Mar 31, 2009 4:46pm Mar 31, 2009 4:46pm
Quoting markmm
I was thinking short, but you go long if you want.
I'm sorry...LOL...I couldn't resist. After an instant 141 pip drop like that, I figured there HAD to be "some" bounce.
Ghost Rider - WWTBMD?
  • #25,609
  • Mar 31, 2009 4:47pm Mar 31, 2009 4:47pm
Quoting markmm
I was thinking short, but you go long if you want.

Mark - there is definitely a shorting opportunity if you see my prev post. But that pin bar is not ideal. It would be considered to be in a sideways pattern. The nose does not project past the previous bars. Had it appeared at the top 2 bars back it would have been perfect.
  • #25,610
  • Mar 31, 2009 4:50pm Mar 31, 2009 4:50pm
Hi Guys,

I'm trying to develop a way to objectively grade my Pins prior to me taking them using the various factors such as below.

1. Daily levels & PPZ
2. Weekly levels & PPZ
3. Fib levels
4. SMA(200) and SMA(365)
5. MACD Convergence/Divergence
6. Swing High/Swing Low (bearish/bullish).
7. Long nose and/or body relative to prior bars.
8. Not in the middle of a consolidation area.

Any other factors that I'm missing? If we could give each equal weight or 1 point (or maybe not) then the max score would be a 8.

Case in point the daily BUOB in AUD/NZD. It fulfills all in my opinion (see attached) most of these requirements so maybe it gets a 6-7 so a B or an A- grade imo. It is bouncing off 200 & 365 MA at swing low, has not reached the 38 or 50 Fib levels yet (potential targets) and it has a huge body engulfing 2 or 3 candles.

Any opinions/thoughts?

Rubin.
Attached Image (click to enlarge)
Click to Enlarge Name: aud.nzd_3.31.09.gif Size: 16 KB
  • #25,611
  • Mar 31, 2009 4:51pm Mar 31, 2009 4:51pm
the retrace pin forming after test of the neckline.
boy if Mike misses this, he'll be pissed
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 28 KB
  • #25,612
  • Mar 31, 2009 4:52pm Mar 31, 2009 4:52pm
Quoting jarroo
KissFan and I believe scott087 may have realized this.

For me, it was truly one of many J16 "Ah HA" moments. Even though the setup looked like it could produce more pips.

I like taking these moments, re-living them and never look back.
That GU trade was just a great example of what Jim said many posts ago. "it ain't such a bad thing to get stopped out at break even". He's right of course, but a skull as thick as mine needs to lose some money from bad trade management to get the drift of that philosophy. I still however, need to be more selective of my trades. Another key to success in this business. I feel certain that a "# of trades open at one time" record has been broken by me back in late 2007 early 2008. While we (newer traders) are so eager to read this material from the resident trading studs, why is it that we do the exact opposite during actual trading?
  • #25,613
  • Mar 31, 2009 4:55pm Mar 31, 2009 4:55pm
Jig,
I know you are looking for MT4 feeds, but I only use Accucharts (through PFG Best). They let me have multiple 4 hour charts and I can offset them on each hour... so I have 4 different 4 hour charts on one screen on one broker. Makes things much simpler than having multiple brokers open all the time. Plus I can just copy over the PPZ from one to the other... not really looking at 4hr yet though. Just know I have it available...

Looks like FX solutions also has Accucharts (just googled it).

Josh
  • #25,614
  • Mar 31, 2009 4:57pm Mar 31, 2009 4:57pm
Quoting Eclipse
the pin bar alone i think it's perfect, but how do you guys rate the position?
thanks
Are you taking on this position? Looks to me like a valid pinbar
  • #25,615
  • Mar 31, 2009 4:59pm Mar 31, 2009 4:59pm
Quoting albchr
I'm sorry...LOL...I couldn't resist. After an instant 141 pip drop like that, I figured there HAD to be "some" bounce.
Ah sorry I am just starting and on daily charts see it now in the 4 hourly.
Economists have forecast 9 out of the last 5 recessions
  • #25,616
  • Edited 5:18pm Mar 31, 2009 5:01pm | Edited 5:18pm
There wasn't anything worth looking today in my charts, unless you combine 2 Day pins, I've found a BUOB on GBPNZD just awhile ago, but that too went bad IMO because it's right under a Weekly PPZ, to view it in a bigger picture, it's more likely that this pair would go down to retest 2.4500 first before a huge move up.

Although right now with the 3 pip difference, it does looks like a DBLHC, but 3 pips maybe too much of a difference, I'm on par with 2, and besides, a DBLHC works best when it is at an extreme low.

And now into my trendline training, you can see that it hits the descending trendline right there.

Bottom line, this setup might just works, but I'll pass for anything more worthwhile.

Will be looking back to watch the 2 day pins in a minute.

Image : GBPNZD BUOB / DBLHC
http://farm4.static.flickr.com/3652/...637b6705_o.png
  • #25,617
  • Mar 31, 2009 5:02pm Mar 31, 2009 5:02pm
We have 59 named members viewing right now! That's gotta be close to a record. This thread just keeps getting more and more popular and useful for learning!

In the words of a wise one: PA ROCKS!



Josh
  • #25,618
  • Mar 31, 2009 5:06pm Mar 31, 2009 5:06pm
MarkMM

Take what I say with a healthy dose of salt, as I'm a complete noobie here.

But my take on on this set-up would be to let it pass. Our feeds are slightly different, so I think got a little head start on the bar close.

I'd prefer to have gone short on the previous bars in my chart that are bouncing off of the 150 EMA. Combined, they make a 2 day PB at a swing high, although still not ideal, IMHO. Or you could have just taken the 2nd bar as an Inside Bar.

The "new" PB formed now, is not at the high, and is caught up in traffic without the space needed to give it room to run.

I agree that if you're going to stay in front of the charts or set a TP to get out of your full position you might be able to sneak away with some pips there.

But there a few minor PPZ's back to back there that could hang you up.

Again, just my 2 cents and it could very well drop like a rock for you.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 16 KB
  • #25,619
  • Mar 31, 2009 5:11pm Mar 31, 2009 5:11pm
Quoting gorubin
Hi Guys,

I'm trying to develop a way to objectively grade my Pins prior to me taking them using the various factors such as below.

1. Daily levels & PPZ
2. Weekly levels & PPZ
3. Fib levels
4. SMA(200) and SMA(365)
5. MACD Convergence/Divergence
6. Swing High/Swing Low (bearish/bullish).
7. Long nose and/or body relative to prior bars.
8. Not in the middle of a consolidation area.

Any other factors that I'm missing? If we could give each equal weight or 1 point (or maybe not) then the max score would be a 8.

Case in point the daily BUOB...
Hi Rubin

Your BUOB would signify a move up...yet you have drawn your fibs to find a move down...better to draw your fibs from swing low on your chart(bottom left) to swing high and then see if this would signify a retrace down to 50/61 fib with a potential to then rally up IMHO...I would post a chart but am about to go to bed.

Jeev
  • #25,620
  • Mar 31, 2009 5:18pm Mar 31, 2009 5:18pm
Quoting uBERpIP
MarkMM

Take what I say with a healthy dose of salt, as I'm a complete noobie here.

But my take on on this set-up would be to let it pass....
I think you are correct, it looks too crowded in there, and its not at a swing high etc. Think it might consolidate a while.

I'll skip this, still waiting to take my first J16 trade, will wait for an A++ trade!. Pity I missed the EJ weekly pin, still more opportunity will appear, patience is key, Marathon!.
Economists have forecast 9 out of the last 5 recessions
22 traders viewing now