james16 Chart Thread | Page 1356 | 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

  • #27,101
  • Apr 15, 2009 8:20pm Apr 15, 2009 8:20pm
Quoting Jduester
JPA,
I don't personally see anything that would warrant you putting some risk into a position. Why?
- Not at a Swing High/Low
- No PA
- Will hit previous bar highs 20-30pips after the break

This is not an A trade setup for me, so I will be staying on the sidelines. What I'd like to see is a break through the previous bar highs and then some retracement, where we see 0.7300 hold as a support. That would be a better signal of a continuing trend, IMO.

Josh
Thanks jduester for your opinion. Just lookin for some possible trades.
"Luck favors the prepared mind"
  • #27,102
  • Apr 15, 2009 8:43pm Apr 15, 2009 8:43pm
Quoting anteater
Hi everyone. I have been reading through all the posts here and it has really changed my trading. Can you give your opinion on this PB ? Is it too small ?
Thanks very much
Id say that is a pretty solid PB... Id just fire up a fib and see where it leaves you with the PPZ you have on the chart. If you have some confluence perhaps it could be a good trade to get a few pips on the retracement.

Although I dont think it qualifies as a A+ trade?
  • #27,103
  • Apr 15, 2009 8:45pm Apr 15, 2009 8:45pm
Quoting mrsingha
Morning,

AUDCHF

Ooo yea, i like this one.

Breaks 0.82, back to retest, reject PPZ -> Up to 0.86

Looks like one of Mikes kinda trades
  • #27,104
  • Apr 15, 2009 8:52pm Apr 15, 2009 8:52pm
Quoting Concept
Id say that is a pretty solid PB... Id just fire up a fib and see where it leaves you with the PPZ you have on the chart. If you have some confluence perhaps it could be a good trade to get a few pips on the retracement.

Although I dont think it qualifies as a A+ trade?
I have added a fib although I am not sure if it is drawn correctly or not. If it is drawn correctly, would I be right in saying that there is confluence ?
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 19 KB
  • #27,105
  • Apr 15, 2009 8:56pm Apr 15, 2009 8:56pm
AUD/CHF 8hr

Missed nice entry too..
Attached Image
  • #27,106
  • Apr 15, 2009 9:17pm Apr 15, 2009 9:17pm
Denarii, Sherm, Billy and Jaroo, thank you for your observations concerning this trade on EUR/AUD. I do not take a trade unless I have the balls to post it here on the king of all forex threads. Here is my approach to this trade.

I will initiate a short position at 1.8331. This is between the 50% and 61.8% fib levels on a retrace of this bar. My stop loss will be 1.8431. This trade will risk 2% of my account balance. I consider this a moderately conservative entry as a more conservative approach would require me to babysit the smaller tf's at this level for a better trade execution price. Of course this is all a moot discussion if the price breaks this bar and heads on down. I will not be chasing it. My first Tp will be 1.8231 which happens to be right dead center of the consolidation of the last 4 daily bars. At this time I will move my SL to BE for my second position. This pair needs room to breathe IMHO. My second area of taking some additional profit will be in the area of 1.8075. I am taking this trade bacause of the price action off the PPZ and the 365ema. A bearish OB signals continuation of the downward trend. This trade has room to continue down with minimal (noise). Many BEOB's will be followed by some retrace.

K.I.S.S.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.gif Size: 52 KB
  • #27,107
  • Apr 15, 2009 9:22pm Apr 15, 2009 9:22pm
I think that the xxx/JPY pin bars all look really good but my worry would be that they appear to be retracements that all happen to make pin bars on the daily timeframe. I have attached charts of the NZD/JPY and EUR/JPY pairs on the 4H timeframe with 2 fibs drawn on each chart. There appears to be a confluence of the fibs on both charts at the daily close. Somehow I'm guessing this is one of the reasons that we take the break of the pin bar - in this case, if the pin bars break then it will be above the confluence level. Due to the confluence I'm not really liking these trades so I'm passing, but it does look like a break of the pin bars might turn out to be a decent trade.

Thoughts, comments, analysis, etc. always welcome since I'm still learning.

Good trading,
Brian
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 13 KB
Click to Enlarge Name: nzdjpy.gif Size: 12 KB
  • #27,108
  • Apr 15, 2009 10:04pm Apr 15, 2009 10:04pm
Quoting KissFan
Denarii, Sherm, Billy and Jaroo, thank you for your observations concerning this trade on EUR/AUD. I do not take a trade unless I have the balls to post it here on the king of all forex threads. Here is my approach to this trade.

I will initiate a short position at 1.8331.....
Good of you to share your thought processes behind your plan. Nice work.
If you don't get a retrace to .8331 would you not take it on a break of the low - the more conservative entry?

Steve.
"The more I practice, the luckier I get." (Gary Player)
  • #27,109
  • Apr 15, 2009 10:06pm Apr 15, 2009 10:06pm
When there's identical daily pins on many JPY base currencies, should we pick the best single setup and leave all the rest?
WARNING: Don't follow me as I'm just learning
  • #27,110
  • Apr 15, 2009 10:10pm Apr 15, 2009 10:10pm
Hi, Adam.

Most people here will only take the most appealing setup among JPY pairs. The reason for this is that the JPY pairs are very strongly correlated. When one yen pair goes up/down, the others often move in the same direction. From this perspective, trading two different yen pairs is similar to making one trade with twice the risk.

Quoting adam777
When there's identical daily pins on many JPY base currencies, should we pick the best single setup and leave all the rest?
  • #27,111
  • Apr 15, 2009 10:19pm Apr 15, 2009 10:19pm
Watching.

Let's see how these close. Gbp/Jpy and Gbp/Usd.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #27,112
  • Apr 15, 2009 10:55pm Apr 15, 2009 10:55pm
Quoting LasVahGoose
That is not a DBHLC, your bars are flipped. Here is one of my posts that shows the DBHLC.
http://www.forexfactory.com/showpost...ostcount=26988
You can click on the image to zoom in.

Here is a link to a PDF document with all the Price Action.
http://www.forexfactory.com/showpost...ostcount=26401
I bet i have messed up all key points and Your "shortcut" is covered all the issues that i am in problem! your work is so great, i ll say!
Thank you very much, LasVahGoose
forexngo
  • #27,113
  • Apr 15, 2009 11:02pm Apr 15, 2009 11:02pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting jarroo
Watching.

Let's see how these close. Gbp/Jpy and Gbp/Usd.
Nothing like yours on my feed pos 8h pb on GJ, but GU has nothing of value as yet - still 2 hrs till bar close

Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 27 KB


Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 28 KB
  • #27,114
  • Edited 11:46pm Apr 15, 2009 11:11pm | Edited 11:46pm
Quoting MPP
Nothing like yours on my feed pos 8h pb on GJ, but GU has nothing of value as yet - still 2 hrs till bar close
I like the location of both the Gbp/Usd and Gbp/Jpy at nice round numbers of 1.5000 and 150.00, respectively. And the divergence confluence.

They are rather small Outside bars and may lead to nothing. I have alerts at these levels.
Indicators show the past. Price Action "Indicates" the future.
  • #27,115
  • Apr 15, 2009 11:44pm Apr 15, 2009 11:44pm
Should we consider the GBP/USD a PB or a BUOB? I don't trade 4h but just wondering how others would.
  • #27,116
  • Apr 15, 2009 11:46pm Apr 15, 2009 11:46pm
Quoting Denarii
Should we consider the GBP/USD a PB or a BUOB? I don't trade 4h but just wondering how others would.
Sorry my mistake , they are Outside bars.
Indicators show the past. Price Action "Indicates" the future.
  • #27,117
  • Apr 15, 2009 11:53pm Apr 15, 2009 11:53pm
Quoting Denarii
Should we consider the GBP/USD a PB or a BUOB? I don't trade 4h but just wondering how others would.
It is a developing PB on the 8 hour. It still has a few hours to go before it closes.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #27,118
  • Apr 16, 2009 12:01am Apr 16, 2009 12:01am
Small break of the 4 Gbp/Jpy Outside bar (neutral bar). Let's see how hard she breaks. A break of the 4 hour PPZ level at 148.00 will be the real test.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #27,119
  • Apr 16, 2009 12:52am Apr 16, 2009 12:52am
yes, thread.
m5 PA , old good Ryanmcd style.. all of you can search for my posts called "m5 chart"

. :-)


Quoting Jigsaw
Interested,

"forum" ? Just put it on FF ? Thread you mean ?
  • #27,120
  • Apr 16, 2009 2:10am Apr 16, 2009 2:10am
Quoting jarroo
Small break of the 4 Gbp/Jpy Outside bar (neutral bar). Let's see how hard she breaks. A break of the 4 hour PPZ level at 148.00 will be the real test.
Can't post a chart its falling too quickly.
Your The Man Jim!
"The more I practice, the luckier I get." (Gary Player)
104 traders viewing now