james16 Chart Thread | Page 2045 | 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

  • #40,881
  • Aug 13, 2009 4:07am Aug 13, 2009 4:07am
Quoting tac
Thanks Joel,

Yeah I agree, trying to load a large position into the market without it moving price against you is a skill (see Livermore)....
The less pressure the better, if we only have to make 1-2% a month then trading becomes much less of a stress. All we need to do is wait for a great pin bar. Excellent. Account size is one of the key things that Jim talks about that I never fully appreciated.
I hear and I forget. I see and I remember. I do and I understand.
  • #40,882
  • Aug 13, 2009 4:08am Aug 13, 2009 4:08am
Hi Joel,

What made you take this one over the USDCAD trade?




Quoting joelcf
Trade - 20090813 - AUDUSD

D1 pin bar
Nose - 0.8178
Break - 0.8369
Length - 191 pips

Positives/Confluences
long nose, nice form, with trend, nose just touches 38.2% retracement of previous upwards move

Entry
(long) at 0.8380

Stops
0.8325 - 55 pips - below strong PPZ, right eye of pin
0.8225 - 155 pips - below strong PPZ, 23.6 retrace
0.8170 - 220 pips - below nose of pin, 38.2 retracement, .8200 round number, strong PPZ

Potential roadblocks
0.8400 - stupid round number
0.8450 - strong PPZ...
  • #40,883
  • Aug 13, 2009 4:13am Aug 13, 2009 4:13am
Quoting tac
Im 2 pips up on my EUR/AUD too soon to move to BE?
Moved my stop above a bar high, cut my risk in half.
I hear and I forget. I see and I remember. I do and I understand.
  • #40,884
  • Aug 13, 2009 4:20am Aug 13, 2009 4:20am
Nice break on looney, lets see how it plays
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad before.gif Size: 22 KB
  • #40,885
  • Edited 4:33am Aug 13, 2009 4:21am | Edited 4:33am
Quoting Pirabuji
Hi Joel,

What made you take this one over the USDCAD trade?
It broke first, its the stronger pattern, and I get a much tighter spread with my local broker


Actually, I dont see the two as mutually exclusive. I will probably take the 2d USDCAD as well, depending on how hard it breaks south.

*edit* actually, going to dinner and cant watch it, and feel like there could be a decent retrace in this one. Will set some alerts and wait it out. Not too worried on missing it, fish in the sea and all that.

Quoting batesmotel
I was considering the USDCAD Short.....but doesn't a BEOB have to have a lower close that the previous bars low? Or is this a judgement call?
If you combine the two bars, it is the same as a pin bar - so it gives us the same information (ie, price moved up, exhausted the buy orders and the bears took over).

Attached Image (click to enlarge)
Click to Enlarge Name: 20090812-usdcad-d1-entry.gif Size: 22 KB
When you have to shoot, shoot. Dont talk.
  • #40,886
  • Aug 13, 2009 4:57am Aug 13, 2009 4:57am
Lots of high impact dollar news today, things are slowing down pre it.
I hear and I forget. I see and I remember. I do and I understand.
  • #40,887
  • Aug 13, 2009 5:00am Aug 13, 2009 5:00am
Hey guys, just to show an updated chart and zoomed in to H4 for this XAG long.

Going to be deciding with M5 charts whether to take half toward these highs and wait for a retrace. This is a winner though and I'll be keeping 50% of current position running with stop at b/e.
Attached Image (click to enlarge)
Click to Enlarge Name: xag-h4-2009-08-13.gif Size: 20 KB
  • #40,888
  • Aug 13, 2009 5:45am Aug 13, 2009 5:45am
Hello every one look at this BIG h-S-h and than a little one also.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 35 KB
  • #40,889
  • Aug 13, 2009 6:23am Aug 13, 2009 6:23am
Quoting mbqb11
Of course....
this is pretty much just what I was after!
I like your style... I appreciate your help... thanks very much
  • #40,890
  • Aug 13, 2009 6:41am Aug 13, 2009 6:41am
Well..I guess today is one of those days when the patience and discipline are critical. No good enough setups for me to trade today

Ben
  • #40,891
  • Aug 13, 2009 7:01am Aug 13, 2009 7:01am
Found a DBLHC today on the GBPCHF H4 timeframe.

I am using 2 brokers now ... 2 hours difference in H4 timeframe closing.
Damn after I missed the EURJPY pin bar cause of the brokers time difference, I check 2 different brokers now for setups lolz

Anyway:

DBLHC at

PPZ
Fib 38.2
Fib 50
Close above the 150EMA
MACD Divergence
Strong Bullish close of DBLHC

Cons:
Trading into a congestion area
not too much space available

Entry at 10 pips above high of the DBLHC
Currently managing trade moving stop loss to 1.7769
Will move stop relatively closely as there are a few trouble areas

Consolidation area: 1.7812
Minor PPZ: 1.7870
Minor PPZ and whole number: 1.7900
Attached Image (click to enlarge)
Click to Enlarge Name: posting.gif Size: 31 KB
  • #40,892
  • Aug 13, 2009 7:08am Aug 13, 2009 7:08am
my trigger on this trade was based on H1 IB break, risk was 20 pips, first target was 1.0800.

already took some profit of the table and going to trail the rest to the moon.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad h1.gif Size: 25 KB
  • #40,893
  • Aug 13, 2009 7:11am Aug 13, 2009 7:11am
Quoting datogio
my trigger on this trade was based on H1 IB break, risk was 20 pips, first target was 1.0800.

already took some profit of the table and going to trail the rest to the moon.
Nice trade Dat, I froze on it (my head is still spinning when CAD took out my stop that was 200 pips away from PA - from my yesterdays long)....but have moved my AUDUSD Long to BE.....risk free trade now....I like that...

GregB
  • #40,894
  • Aug 13, 2009 7:19am Aug 13, 2009 7:19am
Quoting batesmotel
Nice trade Dat, I froze on it (my head is still spinning when CAD took out my stop that was 200 pips away from PA - from my yesterdays long)....but have moved my AUDUSD Long to BE.....risk free trade now....I like that...

GregB
thanks mate.

yep freezing is something that i'm srugglingling with as well, but this one looked very attractive, couldn't pass by. lol
  • #40,895
  • Aug 13, 2009 8:17am Aug 13, 2009 8:17am
Damn Trader, you picking this up real quick, man.

You're recognising the Pro's and Con's real well.

Quoting tradertt
Found a DBLHC today on the GBPCHF H4 timeframe.

I am using 2 brokers now ... 2 hours difference in H4 timeframe closing.
Damn after I missed the EURJPY pin bar cause of the brokers time difference, I check 2 different brokers now for setups lolz

Anyway:

DBLHC at

PPZ
Fib 38.2
Fib 50
Close above the 150EMA
MACD Divergence
Strong Bullish close of DBLHC

Cons:
Trading into a congestion area
not too much space available

Entry at 10 pips above high of the DBLHC
Currently managing trade moving stop loss to 1.7769
Will move stop relatively closely...
Bundy's status today: "Waiting..."
  • #40,896
  • Aug 13, 2009 8:18am Aug 13, 2009 8:18am
Are you guys trading the 4 hour, trading full time?
I hear and I forget. I see and I remember. I do and I understand.
  • #40,897
  • Aug 13, 2009 8:35am Aug 13, 2009 8:35am
Quoting bundyraider
Damn Trader, you picking this up real quick, man.

You're recognising the Pro's and Con's real well.
Thanks Bundyraider,

Saw your PM read through it once but have not gone through it in detail which it truely deserves.

Will let you know if I have any questions

But GBPCHF have reversed on me. have not taken out my stop yet. The congestion area proofs to be the trouble area and it reversed around that area.

Is there anything else I am missing in my analysis of the entry and management?
  • #40,898
  • Aug 13, 2009 8:41am Aug 13, 2009 8:41am
Quoting datogio
my trigger on this trade was based on H1 IB break, risk was 20 pips, first target was 1.0800.

already took some profit of the table and going to trail the rest to the moon.
well the second half was stopped out with just a pip, but I fulfilled my plan perfectly.

I'll be watching the retracement of the loony maybe adding short position.

It's damn hard to get ticket to the moon in current choppy markets.
  • #40,899
  • Aug 13, 2009 8:44am Aug 13, 2009 8:44am
what are the reasons not to trade this h4 pin forming in 15mins (provided it forms!)
my reasons for are: shape, space, off ppz
Attached Image
  • #40,900
  • Aug 13, 2009 9:00am Aug 13, 2009 9:00am
ok so the pin didn't form but I had already (maybe too eagerly) put my order in only for it to break early... it reached the first trouble zone at 1.09 so half off the table and the rest to BE for a very sudden free trade... now to watch the rest play out...
Attached Image
57 traders viewing now