james16 Chart Thread | Page 1863 | 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

  • #37,241
  • Jul 13, 2009 1:51pm Jul 13, 2009 1:51pm
Hi,
Just want to shear this pair which i am looking for a while. Today forming nice PB as in attachment. What i have find there interesting is, resistance from April 2009 become as support and made nice PPZ. Also i find that down move lost the power exact at zis PPZ area, and today finally made nice PB, of course, the day is not over, but it is time to look closer to it.
So would be nice to hear from you, Thank you in advance!
Ed
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud_chf_1d.gif Size: 15 KB
Click to Enlarge Name: aud_chf.gif Size: 15 KB
  • #37,242
  • Jul 13, 2009 2:00pm Jul 13, 2009 2:00pm
Quoting dzero
Hi,
Just want to shear this pair which i am looking for a while. Today forming nice PB as in attachment. What i have find there interesting is, resistance from April 2009 become as support and made nice PPZ. Also i find that down move lost the power exact at zis PPZ area, and today finally made nice PB, of course, the day is not over, but it is time to look closer to it.
So would be nice to hear from you, Thank you in advance!
Ed
Hey Ed

I would always prefer a close above a big round number like 8500 in this case. Which would lead way to the second blue box. But without that a likely first trouble area would be the first blue box.

-Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 12 KB
  • #37,243
  • Jul 13, 2009 2:10pm Jul 13, 2009 2:10pm
Seems quiet in here today so Ill sneak this in. Its a question for the weather Czar, I am leaving soon out of San Diego on a tuna trip and we have a el nino shaping up out west , thought you could post some temperature breaks in the pacific kind of like s/r price of fuel these days dont need to wander around out there. Is el nino from surfers drinking too much beer then gettin in the water? Would enjoy your input.
  • #37,244
  • Jul 13, 2009 2:15pm Jul 13, 2009 2:15pm
Quoting mbqb11
Hey Ed

I would always prefer a close above a big round number like 8500 in this case. Which would lead way to the second blue box. But without that a likely first trouble area would be the first blue box.

-Mike
Thanks,

O yes now i see that, some how miss this round nr. and area of first trouble area. So in this case this is not tradable pair as next resistance could be around 0.86, i am right?
I wanted to play it as brake of PB and first tp at 0.86. Now after your chart i understand that that is tradable but with lot of traffic on the way and that mean not A= trad would be
Thank you for explanation.
Ed
  • #37,245
  • Jul 13, 2009 2:20pm Jul 13, 2009 2:20pm
Quoting dzero
Thanks,

O yes now i see that, some how miss this round nr. and area of first trouble area. So in this case this is not tradable pair as next resistance could be around 0.86, i am right?
I wanted to play it as brake of PB and first tp at 0.86. Now after your chart i understand that that is tradable but with lot of traffic on the way and that mean not A= trad would be
Thank you for explanation.
Ed
Well it could be tradeable both ways depending on the type of trader you are. I prefer always to see a close above those round numbers, otherwise I always feel like I am trading INTO the ppz, as opposed to away. So if price hits 8500 area and reverses I would not be surprised or caught off guard by the market. Just as if price closed above that number and then reversed near the second blue box I wouldn't be surprised either. Certainly not an A++ trade but depending on your style potentially for a quick profit/moved to b/e type trade

Mike
  • #37,246
  • Jul 13, 2009 2:21pm Jul 13, 2009 2:21pm
Quoting supremeChaos
i had a previous wrong/premature analysis on jpy.
can't find the exact post. but i recently mentioned it here.

anyway, here's 1 of my $jpy doodle charts.
daily - monthly are bearish, but H4 formed a PB.
this could be a minor bounce back inside the Red downward channel @ 93.50 (confluence with minor ppz, small gray rectangle), or up to the recent minor PPZs at 93.50, 94, & 94.50 (dodger blue horizontal line; marked "x"). nearest major ppz is 91.00 (turquoise...


Good call, I closed out my short and went long on the 3rd test of the low.
Keep taking CT trades, I need more money
  • #37,247
  • Jul 13, 2009 2:36pm Jul 13, 2009 2:36pm
Quoting mbqb11
Well it could be tradeable both ways depending on the type of trader you are. I prefer always to see a close above those round numbers, otherwise I always feel like I am trading INTO the ppz, as opposed to away. So if price hits 8500 area and reverses I would not be surprised or caught off guard by the market. Just as if price closed above that number and then reversed near the second blue box I wouldn't be surprised either. Certainly not an A++ trade but depending on your style potentially for a quick profit/moved to b/e type trade

Mike
Thank you, as usual everything clear and nice explanation.
Ed
  • #37,248
  • Jul 13, 2009 2:40pm Jul 13, 2009 2:40pm
What do you think of this pin on the cable daily? A clear rejection of 1.6, currently sitting just above 1.62. Could it go up to the previous bar highs around 1.635 or even the 365EMA at around 1.64? I know its currently stuck in a bit of a channel but it looks lie a good one to my untrained eye.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd1307.gif Size: 13 KB
  • #37,249
  • Jul 13, 2009 2:45pm Jul 13, 2009 2:45pm
Hi guys,

Just want to say this is an oasis of great trading information. I have started Reading the thread from the beginning and plan to trade the dailies for three months with a 500 buck account as demo. This is one of the first threads that cuts through the bs and delivers a dose of realism.

Thanks to james. Will hopefully post some charts soon.
I hear and I forget. I see and I remember. I do and I understand.
  • #37,250
  • Jul 13, 2009 3:15pm Jul 13, 2009 3:15pm
Quoting TotalNewbie
What do you think of this pin on the cable daily? A clear rejection of 1.6, currently sitting just above 1.62. Could it go up to the previous bar highs around 1.635 or even the 365EMA at around 1.64? I know its currently stuck in a bit of a channel but it looks lie a good one to my untrained eye.
If i can give my point of view.
This pin is not in swing lows and in your drawn ppz lines you can see that in this area to 1.63 is lot of traffic which can give the push to any side. I personally wold not look on that right now. As before here was mentioned by some one you can try trade it as hard brake of this PB and move SL to BE as soon as possible. There is also no space to move if we compare to RR. Just my option, i just learn from fere, and that is how i understand after some time here. Correct if i am wrong.
Ed
  • #37,251
  • Jul 13, 2009 3:44pm Jul 13, 2009 3:44pm
Quoting TotalNewbie
What do you think of this pin on the cable daily? A clear rejection of 1.6, currently sitting just above 1.62. Could it go up to the previous bar highs around 1.635 or even the 365EMA at around 1.64? I know its currently stuck in a bit of a channel but it looks lie a good one to my untrained eye.
Depends how loose you are, but it's certainly not an A trade. I wouldn't be taking it myself. Remember - wait for the good ones.
  • #37,252
  • Jul 13, 2009 3:51pm Jul 13, 2009 3:51pm
Quoting dzero
If i can give my point of view.
This pin is not in swing lows and in your drawn ppz lines you can see that in this area to 1.63 is lot of traffic which can give the push to any side. I personally wold not look on that right now. As before here was mentioned by some one you can try trade it as hard brake of this PB and move SL to BE as soon as possible. There is also no space to move if we compare to RR. Just my option, i just learn from fere, and that is how i understand after some time here. Correct if i am wrong.
Ed
Thanks for the help. The R:R alone is enough to rule it out I think. I was thinking of entering if it broke hard clear of 1.62 but I'll sit this one out. It'll probably go to the moon now lol but its better to be out of a trade wishing I was in than to be in a trade wishing I was out. I know this, of course, but sometimes I need reminding and you guys on this thread are great at pointing us newbies gently but firmly in the right direction. God bless you all.
  • #37,253
  • Jul 13, 2009 4:05pm Jul 13, 2009 4:05pm
Quoting KissFan
I wish I could have given you more evidence to short this but it was ugly on my feed. Just noticed that it broke short pretty strongly. It's a good thing we have many opportunities to make money in this market.

K.I.S.S.
I'm Trying To Be More Picky. Just Waiting For A Good Opportunity. Waiting ... The Hardest Part ...

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #37,254
  • Jul 13, 2009 4:22pm Jul 13, 2009 4:22pm
Hmm ... Traffic Again, But It's A Nice Pin Bar With A Little Divergence.

Regards,
Basber
Attached Image (click to enlarge)
Click to Enlarge Name: eg pb2.gif Size: 24 KB
Trading methods are designed to put the odds in our favor, not predicting.
  • #37,255
  • Jul 13, 2009 5:21pm Jul 13, 2009 5:21pm
dont tempt me.

3 days on this mountain and i am considering never coming down.

my apologies for getting a bit testy before i left.

i consider this home in so many respects and if im not in the right frame of mind the wrong person doing the wrong thing can set me off.

doesnt happen often.

hope all is well.

im still not fully in complete decompression mode but im getting there.

i appreciate all of you that look after this place.

jim






Quoting mbqb11
I would have to call James and have him ban himself, I have no powers, only the power of persuasion
  • #37,256
  • Jul 13, 2009 5:31pm Jul 13, 2009 5:31pm
proof that this high level appointment needed the kind of person that could put forth this type of articulation.

damn im proud of my climate czar already.





Quoting jarroo
Climate czar, sometimes the thread steers into a discussion about man made global warming, which doesn't exist. The big guy and I get some other point of views.
  • #37,257
  • Jul 13, 2009 5:57pm Jul 13, 2009 5:57pm
was hoping my quick stop would find something like this.

way to go mark.

jim

Quoting markf45
Anybody still in this BUOVB? Took it and got out at 72.44. Not really an A trade IMO but still had some good confluence and divergence, and it's a double bottom.
  • #37,258
  • Jul 13, 2009 6:22pm Jul 13, 2009 6:22pm
I'm looking at this setup on EUR/AUD Daily....
Pin/Beob

The Good
Long nose with good close
Rejection of the major ppz at 1.80
Piercing big round number 1.80
Fib confluences 23.6% and 61.8%
Swing high
Nice big bar
With the trend
Also 365 ema confluence (on FXDD with no sunday bars)

Not so good
Bar highs in blue may cause trouble


Overall I think the bar shape is excellent and the location is very good. I'll be watching 1.78 and those bar highs though. I plan on moving my stop to BE around 1.7760 and my TP areas are marked with the green lines.

All comments are welcome. If I'm missing something let me know.

--Scott


EDIT: Added chart with TP levels.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ea_fibs.png Size: 49 KB
Click to Enlarge Name: ea_closeup.png Size: 40 KB
Click to Enlarge Name: tps.png Size: 41 KB
  • #37,259
  • Jul 13, 2009 6:35pm Jul 13, 2009 6:35pm
I've been using the J16 traditional method for about 7 months live now. I have had 6 out of 7 months profitable, strictly on daily.

I've also been looking into placing more agressive stops. I know this will cause my win rate to decline, but I am looking to increase my R multiple for these trades--so that a smaller move will result in a better reward, and my trades will reach 1:1 quicker.

I feel like for this trade, a stop above 1.80 would make sense, above the 61.8 fib of the pin/beob, above the ppz (resistance) at 1.80, and above the high of the eye on the left. Would this stop placement make sense?
Attached Image (click to enlarge)
Click to Enlarge Name: stop.png Size: 44 KB
  • #37,260
  • Jul 13, 2009 6:35pm Jul 13, 2009 6:35pm
Hi all,

I has got a question about bullish/bearish outside bars. Please could you look at the attached chart. Am I being a little to sticky about it, or is there a generic rule?
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd13jul09.gif Size: 39 KB
60 traders viewing now