james16 Chart Thread | Page 2078 | 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

  • #41,541
  • Aug 19, 2009 10:46am Aug 19, 2009 10:46am
Quoting joelcf
No, you are right - I guess, technically, it would be some kind of island reversal pin crossbreed.

But, to me at least, it says the exact same thing. Especially on a gappy instrument like soft futures. So I would be comfortable trading it as a pin.

definitions are all well and good, but I dont think they are set in stone.

Good pickup though, thanks - completely missed that one!
yes, do what you are comfortable is key. i've seen some of these worked, and others didn't. in few select situations i can't resist to bend definitions too. the location was really A+ in this case.
good trading.
  • #41,542
  • Aug 19, 2009 11:02am Aug 19, 2009 11:02am
hard break, lets see what is she willing to give
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad 2day pb.gif Size: 22 KB
  • #41,543
  • Aug 19, 2009 11:24am Aug 19, 2009 11:24am
I really can't help it. I am trading to much.

Now i am in it again.

Whenever i see a long nose i get excited.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: uj d.gif Size: 28 KB
Click to Enlarge Name: uj 1h d.gif Size: 28 KB
  • #41,544
  • Aug 19, 2009 11:36am Aug 19, 2009 11:36am
Quoting nasir.khan
I really can't help it. I am trading to much.

Now i am in it again.

Whenever i see a long nose i get excited.
I see it like this. Let's see how it works.
(will move stop to BE when price hits that blue area)
Attached Image (click to enlarge)
Click to Enlarge Name: 17.jpg Size: 109 KB
  • #41,545
  • Aug 19, 2009 11:57am Aug 19, 2009 11:57am
Quoting tj#8
I see it like this. Let's see how it works.
(will move stop to BE when price hits that blue area)
came out clean with 50 pips.

btw on your chart pin bar is damn good.
  • #41,546
  • Aug 19, 2009 12:30pm Aug 19, 2009 12:30pm
Quoting nasir.khan
I really can't help it. I am trading to much.

Now i am in it again.

Whenever i see a long nose i get excited.
It's ok to be excited if you see a long nose, provided that you don't pull the trigger before sanctioning the location,

So far you've been doing it pretty well buddy,

Ghous.
I believe . . .
  • #41,547
  • Aug 19, 2009 1:53pm Aug 19, 2009 1:53pm
Just got stopped out after a good run on this one, made 2% profit
After I saw I was 0.6 a pip from missing a big move, I decided to go back and trail my stops on the 1H instead of the 30min, and it paid off.

http://img149.imageshack.us/img149/9641/1k2pp3i338.jpg

Mike, I am one of your followers (), and I have noticed You are using the BAT indicator for exits sometimes.

I have putted it on my chart for asking you something.
Will it be right to say that it is better to use the 2B exit strategy when sharp moves occur, and use the BAT when price moves more in consolidation ans slowly?
I have used the 2B stop here and locked good profit, while the BAT is quite lagging.....

In which condition you will prefer the BAT ?

I am learning tons from you Mike! THANK YOU!

Ben
  • #41,548
  • Aug 19, 2009 2:02pm Aug 19, 2009 2:02pm
Quoting nasir.khan
I really can't help it. I am trading to much.

Now i am in it again.

Whenever i see a long nose i get excited.

Hi Nasir,

Nice charts man..are you shorting or on long now? I am waiting for next 4hr candle to close, then I will decide where to go.
-happyTrading-myFx.
  • #41,549
  • Aug 19, 2009 2:03pm Aug 19, 2009 2:03pm
Quoting benji533
Just got stopped out after a good run on this one, made 2% profit
After I saw I was 0.6 a pip from missing a big move, I decided to go back and trail my stops on the 1H instead of the 30min, and it paid off.



Mike, I am one of your followers (), and I have noticed You are using the BAT indicator for exits sometimes.

I have putted it on my chart for asking you something.
Will it be right to say that it is better to use the 2B exit strategy when sharp moves occur, and use the BAT when price moves more in consolidation ans slowly?
I...
Hey Ben

The intricacies of the trail is way to long to really explain here. But the summary of how I use it is. BAT(with my own settings) for breakouts and when decreased range volatility plays are breaking(hence the type of indicator it is volatility based). All my trailing stops are saved for plays that I have belief to run. In market environment like we are now I tend to set conservative targets. For my trailing stops a lot of times I am trailing on the trigger timeframe, not the pattern timeframe. You are looking to get in and stay in with momentum.

Nothing overly complicated

Mike
  • #41,550
  • Aug 19, 2009 2:13pm Aug 19, 2009 2:13pm
Quoting datogio
You've made a profitable decision IMO, the main thing here is how comfortable you are with this kind of trading mentality.

As for me, I never kill wining positions even if it stops me out in BE, BE is a winer, you had a result that overcame BE. Thats a super winer IMO.

Don't blame yourself if you missed some pips, and remember anything can happen, your 300 pips could have turned into 1000 and believe me, you'll feel much worse in that case if you miss it.

And again, the main thing is to find in yourself what are you comfortable with.

The trade...

Excellent man
-happyTrading-myFx.
  • #41,551
  • Aug 19, 2009 2:15pm Aug 19, 2009 2:15pm
Quoting mbqb11
Hey Ben

The intricacies of the trail is way to long to really explain here....
I understand.
Thanks Mike.

Ben
  • #41,552
  • Aug 19, 2009 3:57pm Aug 19, 2009 3:57pm
Quoting Bryan
DBLHC on a retrace without having broken yet......higher sl
Climb aboard the pip train....
i saw this yesterday when scanning the dailies, then i checked its weekly and it formed a double top with almost BEOB(or engulfing in candlestick). i skipped it.

it's personal preference, but i skip daily trades if it goes against the weekly. just my views.
Attached Image (click to enlarge)
Click to Enlarge Name: w.gif Size: 21 KB
Attached Image
  • #41,553
  • Edited 5:42pm Aug 19, 2009 5:20pm | Edited 5:42pm
Yesterday night I was drawing some lines for breakout patterns. Unfortunately did not take anyone. Some are good, some less because there was no PA or pullback.

But I wanted to post them cause it is amazing IMO how every single one of them broke and did what is supposed to do. I'm sure someone could made some good pips out of them.

Ben

Edit: I can upload only 5 pics, but I have 9 like these that are recent. Won't make another post for spamming here too much lol, but there are so many good opportunities out there!

http://img156.imageshack.us/i/999999ic.jpg/

http://img220.imageshack.us/i/99999i.jpg/

http://img522.imageshack.us/i/9999im.jpg/
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 999999i.gif Size: 22 KB
Click to Enlarge Name: 999i.gif Size: 18 KB
Click to Enlarge Name: 99999i.gif Size: 23 KB
Click to Enlarge Name: 1k2pל93i3םם3חח8.gif Size: 18 KB
Click to Enlarge Name: 99ii.gif Size: 26 KB
  • #41,554
  • Aug 19, 2009 5:35pm Aug 19, 2009 5:35pm
Quoting benji533
Yesterday night I was drawing some lines for breakout patterns. Unfortunately did not take anyone. Some are good, some less because there was no PA or pullback.

But I wanted to post them cause it is amazing IMO how every single one of them broke and did what is supposed to do. I'm sure someone could made some good pips out of them.

Ben

Edit: I can upload only 5 pics, but I have 9 like these that are recent. Won't make another post for spamming here too much lol, but there are so many good opportunities out there!

http://img156.imageshack.us/i/999999ic.jpg/

http://img220.imageshack.us/i/99999i.jpg/

http://img522.imageshack.us/i/9999im.jpg/...
You notice the price action around those breaks by chance?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #41,555
  • Aug 19, 2009 5:52pm Aug 19, 2009 5:52pm
Quoting LasVahGoose
You notice the price action around those breaks by chance?
Hey, I know these are not the best examples...now thinking on that, I souldn't post them But I can see the PA.

Chart - there is a pullback, then a DBHLC.
Chart 2 - there is a pullback (not to the pip though) and than a break of an inside bar.
Chart 3 - zoom into a lower TF and you will see a BEOB.
Chart 4 - break of an inside bar on lower TF.
Chart 5 - Nice BEOB, but no pullback.

I would trade only those That have a pullback and than a good PA confirmation though. You are right.

Ben
  • #41,556
  • Aug 19, 2009 6:04pm Aug 19, 2009 6:04pm
I was just wondering if any of you combine 2 or 3 bars into one bar or if it is best just to stick to 1 bar at a time.
You could interpret this as a pin bar although its formed over 3 days. It still is reading price action and getting the same information that price has been rejected for a certain level in the market.

There was a post not long ago about this and I found it interesting as I never thought to visualize multiple bars forming into one. My only concern would be perhaps not every one views it like this and the signals of combining a few bars into 1 has less chance than a single pin bar would have on the mass psychology of traders out there?
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.GIF Size: 16 KB
  • #41,557
  • Aug 19, 2009 6:09pm Aug 19, 2009 6:09pm
Quoting benji533
Hey, I know these are not the best examples...now thinking on that, I souldn't post them But I can see the PA.

Chart - there is a pullback, then a DBHLC.
Chart 2 - there is a pullback (not to the pip though) and than a break of an inside bar.
Chart 3 - zoom into a lower TF and you will see a BEOB.
Chart 4 - break of an inside bar on lower TF.
Chart 5 - Nice BEOB, but no pullback.

I would trade only those That have a pullback and than a good PA confirmation though. You are right.

Ben
It's fine you posted them, I think it's cool you can have 1 or 2 lines with PA a get a winning trade.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #41,558
  • Aug 19, 2009 6:28pm Aug 19, 2009 6:28pm
Quoting supermatt
I was just wondering if any of you combine 2 or 3 bars into one bar or if it is best just to stick to 1 bar at a time.
You could interpret this as a pin bar although its formed over 3 days. It still is reading price action and getting the same information that price has been rejected for a certain level in the market.

There was a post not long ago about this and I found it interesting as I never thought to visualize multiple bars forming into one. My only concern would be perhaps not every one views it like this and the signals of combining a...
Hi supermatt,

I know many tend to combine bars, but I personally don't to that. IMO it isn't the same. All the idea behind pin bars, as I see it, is a sign that price reached a certain spot, but got rejected very fast for some reason. When the nose is longer, it means the price went far, and got rejected even harder. Longer noses = sharper, faster and more powerful rejection.

If you combine two bars, it means much less. The rejection was far less significant, especially if the nose isn't extra long after the rejection. Dose it make sense? Every time I tend to ask myself what does the price is actually telling me. Learn it's language. Don't be a robot.

But hey, This is only based on my OWN THOUGHTS and how I SEE IT. Not saying it's a fact. That should be clear.

Ben
  • #41,559
  • Aug 19, 2009 6:33pm Aug 19, 2009 6:33pm
Quoting supermatt
I was just wondering if any of you combine 2 or 3 bars into one bar or if it is best just to stick to 1 bar at a time.
You could interpret this as a pin bar although its formed over 3 days. It still is reading price action and getting the same information that price has been rejected for a certain level in the market.

There was a post not long ago about this and I found it interesting as I never thought to visualize multiple bars forming into one. My only concern would be perhaps not every one views it like this and the signals of combining a...
I'll add this - Wen I read your chart, I see more indecision of price. It is ranging. I don't feel like it wad rejected hard enough to be able to break the strong resistance above it. There is no momentum.
Hope it helps.

Ben
  • #41,560
  • Aug 19, 2009 6:44pm Aug 19, 2009 6:44pm
I know of a few members of this thread who like to combine bars. Others avoid them to keep things more simple. Jarroo comes to mind when I think of combining bars. Some who subscribe to the theory that longer time frames provide more reliable setups will say that a 2-day pinbar is more reliable than a 1-day pinbar. I guess it's a matter of preference. You might be interested in searching for an indicator called periodcon (Jarroo uses it a lot). It allows you to build a chart in timeframes that are not normally available to MetaTrader (like a 3-day chart). The indicator makes it a lot easier to visualize PPZs, traffic, etc.

Quoting supermatt
I was just wondering if any of you combine 2 or 3 bars into one bar or if it is best just to stick to 1 bar at a time.
119 traders viewing now