james16 Chart Thread | Page 1357 | 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

  • #27,121
  • Apr 16, 2009 2:18am Apr 16, 2009 2:18am
Quoting mrsingha
Can't post a chart its falling too quickly.
Your The Man Jim!
What gave this trade its strength was its location, PPZ (off a nice round numbers 150.00 & 149.00) and added confluence of divergence.

Bar confirmation was not good at all.
Next bar break, yes.
Hard break, so-so. I would have liked to see it break harder but it was in a bit of traffic.
29 pip draw down after the break, not bad for this pair.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #27,122
  • Apr 16, 2009 2:39am Apr 16, 2009 2:39am
Here is the pin I showed yesterday I took on the SNP...hit target 853 with 90 percent and currently have stop at break even in the remainder 10 percent

Attached Image (click to enlarge)
Click to Enlarge Name: snp 2.png Size: 18 KB
  • #27,123
  • Apr 16, 2009 3:24am Apr 16, 2009 3:24am
Quoting g_j_hook@yah
yeah iv seen this strategy used but you got to be FAST man!!!
.i dont understand it well enough which puts it out of my league, for now at least.
could all non majors be classed as synthetic?
Let me try to clarify this.
It depends on what you call the major pairs, besides the common four pairs. In the extent of the currency exchanges this list is very complicated. For example Eur/Chf is not a major pair, however it's traded directly as well as eur/gbp.
Anyway, my point is that any bar/candle represents the trading price for the given pair, but in synthetic pairs it sometimes represents the trading price for the mediator currency(through wich they are connected, in that case it was usd). Thus, we can't rely on the bar/candle because it was created out of nothing, that is in our case gbp and jpy didn't move.
I agree with you that you gotta have a very quick reaction, because a couple of my friends were burned on the using ea for such method. Fortunately, they were experimenting on the micro account
  • #27,124
  • Apr 16, 2009 4:38am Apr 16, 2009 4:38am
Took this BEOB a few days ago. PPZ at 0.7200, BEOB engulfed the minor rally. Gotta love PA trading. The break was fast and hard before retracing right to the round number of 0.7000. Then we just reached my 2nd TP at 0.6865, a bar low from a few weeks ago.

GO PA, yeah!


Josh
Attached Image
  • #27,125
  • Apr 16, 2009 4:41am Apr 16, 2009 4:41am
Quoting Shermenator
Here is the pin I showed yesterday I took on the SNP...hit target 853 with 90 percent and currently have stop at break even in the remainder 10 percent

Attachment
SNP... what is SNP? Doesn't look like the China Petro & Chemical chart, which is the NYSE stock representing SNP...

Switzerland something perhaps? Also, is this a daily chart?

Josh
  • #27,126
  • Apr 16, 2009 4:43am Apr 16, 2009 4:43am
Quoting Jduester
Took this BEOB a few days ago. PPZ at 0.7200, BEOB engulfed the minor rally. Gotta love PA trading. The break was fast and hard before retracing right to the round number of 0.7000. Then we just reached my 2nd TP at 0.6865, a bar low from a few weeks ago.

GO PA, yeah!


Josh
A DBHLC on my chart...

Anyways
I believe . . .
  • #27,127
  • Apr 16, 2009 4:45am Apr 16, 2009 4:45am
Quoting Jduester
I don't know why I'm so fascinated by this setup but I thought I'd post it to explain my thoughts....
This was another great example of Price Action. Price broke out higher from the recent consolidation I mentioned yesterday. Then got to 150ish level and did a nose dive... Guess it wasn't ready to break above 150 yet!

Perhaps a retest of the trendline in the next few days???

Josh
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY 041609_day.GIF Size: 55 KB
  • #27,128
  • Apr 16, 2009 4:46am Apr 16, 2009 4:46am
Quoting Jduester
Took this BEOB a few days ago. PPZ at 0.7200, BEOB engulfed the minor rally. Gotta love PA trading. The break was fast and hard before retracing right to the round number of 0.7000. Then we just reached my 2nd TP at 0.6865, a bar low from a few weeks ago.

GO PA, yeah!


Josh
Nice trading Josh

Quoting Jduester
SNP... what is SNP? Doesn't look like the China Petro & Chemical chart, which is the NYSE stock representing SNP...

Switzerland something perhaps? Also, is this a daily chart?

Josh
It's the S&P 500 Index J, it's an Index like the Dow Jones.

That is an hourly chart I believe.

EDIT :

I think you can get it on FxPro's Metatrader lemme check here, yeah you can.

Quoting jarroo
What gave this trade its strength was its location, PPZ (off a nice round numbers 150.00 & 149.00) and added confluence of divergence.

Bar confirmation was not good at all.
Next bar break, yes.
Hard break, so-so. I would have liked to see it break harder but it was in a bit of traffic.
29 pip draw down after the break, not bad for this pair.


Good Job Jim, I am on the train on this one too.
  • #27,129
  • Apr 16, 2009 4:54am Apr 16, 2009 4:54am
Quoting Jigsaw
Nice trading Josh



It's the S&P 500 Index J, it's an Index like the Dow Jones.

That is an hourly chart I believe.

EDIT :

I think you can get it on FxPro's Metatrader lemme check here, yeah you can.




Good Job Jim, I am on the train on this one too.
HAHA. I'm a moron. I've always known the S&P future as ESM9, for example. Wasn't aware I could trade the index itself... Thanks for the clarification.
  • #27,130
  • Apr 16, 2009 4:58am Apr 16, 2009 4:58am
I've attached a word document showing my FXPro chart. As you see at the bottom right side of the window, I can see the OHLC data. But it cuts off the last digit. I've tried a bunch of things to see this last digit, but to no avail... Some of you guys are much more savvy on MT4 than me... any help?

The only way I know of to get the full data for a bar (not a current bar) is to place my curser over the bar and wait for the data to pop up in another 'comment' window. But this doesn't always work.. still trying to figure that out.

Sorry for it being unrelated to thread...
Thanks.

Josh
Attached File(s)
File Type: doc cut off MT4 numbers.doc   112 KB | 735 downloads
  • #27,131
  • Apr 16, 2009 5:06am Apr 16, 2009 5:06am
Quoting Jduester
HAHA. I'm a moron. I've always known the S&P future as ESM9, for example. Wasn't aware I could trade the index itself... Thanks for the clarification.

Yep mate its the S&P futures 1 hour chart...took it yesterday I posted it when I took it...I already got stopped out at break even on the reamainder 10 percent I had open
  • #27,132
  • Apr 16, 2009 5:11am Apr 16, 2009 5:11am
Quoting Jduester
I've attached a word document showing my FXPro chart....
I do not know whats up with the thing along the bottem J, but this is what I do to figure out the open/close, In Metatrader I have no use for the High/Close in ways because I just click on the crosshair and drag and that does it for me to get the size of bars.

You might already know about this but heres a few pics detailing it.

EDIT - If you have a scrolly wheel thingy on your mouse then it pops up the crosshair automatically
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Josh1.jpg Size: 170 KB
Click to Enlarge Name: Josh2.jpg Size: 183 KB
Click to Enlarge Name: Josh3.jpg Size: 188 KB
  • #27,133
  • Apr 16, 2009 5:16am Apr 16, 2009 5:16am
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. 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...
Riding with ya man. You seen what I seen.

Gone for a bigger SL than you @ 1.8515 , also crappier entry @ 1.8295. Orders been there all day. lol

Awesome call on your entry , dude. 1 pip (so far) from IBFX high. lol
.
Bundy's status today: "Waiting..."
  • #27,134
  • Apr 16, 2009 5:18am Apr 16, 2009 5:18am
Hi,
this one was a a+ pin I cought few hours ago.
I am looking for 1.475 if it gets there.

This thread is gold.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh8.gif Size: 13 KB
  • #27,135
  • Apr 16, 2009 5:20am Apr 16, 2009 5:20am
Quoting Schneeule
Hi,
this one was a a+ pin I cought few hours ago.
I am looking for 1.475 if it gets there.

This thread is gold.

Wick is not the best compare to the surrounding candles ..just manage nicely and keep in mind the trend your experiencing and dont let a winner turn into a loser.
  • #27,136
  • Apr 16, 2009 5:20am Apr 16, 2009 5:20am
Jarroo I notice you like to make use of the period multipliers to find set ups - in particular pin bars. I just wondered if you had thought of this: A pin bar on, say, the daily is almost a self fulfilling prophesy because a lot of traders will see and recognise it and trade it. However, this is less likely on the H8 or D2 timeframes for example.
Have you any evidence that these are less likely to play out?
Gone to a better place
  • #27,137
  • Apr 16, 2009 5:23am Apr 16, 2009 5:23am
Quoting Schneeule
Hi,
this one was a a+ pin I cought few hours ago.
I am looking for 1.475 if it gets there.

This thread is gold.
Nice trade, the location was quality.

Welcome to the thread . I see we have the honor of your first post here on the factory

Take care
  • #27,138
  • Apr 16, 2009 5:25am Apr 16, 2009 5:25am
Quoting Jduester
I've attached a word document showing my FXPro chart. As you see at the bottom right side of the window, I can see the OHLC data. But it cuts off the last digit. I've tried a bunch of things to see this last digit, but to no avail... Some of you guys are much more savvy on MT4 than me... any help?

The only way I know of to get the full data for a bar (not a current bar) is to place my curser over the bar and wait for the data to pop up in another 'comment' window. But this doesn't always work.. still trying to figure that out.

Sorry for it...
Hey Josh,

Something you can try if you haven't already. Try turning your status bar off and back on again. On the menu, View/Status bar. First click should turn it off (No check mark), second click back on again (Check mark).

For the "pop up box" while hovering over bars with your cursor, You have to hover over the "close" of the bar for past bars and the current price for open session bars.

Hope that helps.
Ghost Rider - WWTBMD?
  • #27,139
  • Apr 16, 2009 5:26am Apr 16, 2009 5:26am
Quoting Shermenator
Wick is not the best compare to the surrounding candles ..just manage nicely and keep in mind the trend your experiencing and dont let a winner turn into a loser.

Thanks for advice,
I will do my best
  • #27,140
  • Apr 16, 2009 5:27am Apr 16, 2009 5:27am
Quoting Jigsaw
Nice trade, the location was quality.

Welcome to the thread . I see we have the honor of your first post here on the factory

Take care
Thanks
77 traders viewing now, 1 is registered:
Zojahamad