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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #53,921
  • Feb 4, 2010 5:43am Feb 4, 2010 5:43am
Quoting triger88990
nasir have you missed this one

I'll beat you are all over it,don't you?

lets see if we can get a nicely PB over the daily chart or at least to grab some pips.

oh..... just saw it, that we already have a PB on the 4h chart

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hmmmm,
let me see, retest of 61.8 fib of the daily and 50 fib of that pin....not the biggest of pins but shld work ......that shld be about 30 pips SL right
Simplicity is the key to success
  • #53,922
  • Feb 4, 2010 5:50am Feb 4, 2010 5:50am
In case u missed the last BOB...
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Wellcome to the good life!
  • #53,923
  • Feb 4, 2010 5:52am Feb 4, 2010 5:52am
Quoting joelcf
...
AUDNZD - choppier than OJ Simpson in gloves.
How about AUD/CHF for even more crazy chop action
  • #53,924
  • Feb 4, 2010 6:04am Feb 4, 2010 6:04am
Quoting MattW
How about AUD/CHF for even more crazy chop action
lol, I actually considered adding it - it essentially acts like a crazy stepchild of AUDJPY and USDCHF, but with a bit of commodity/china bipolar craziness thrown in for good measure. At the end of the day though, it just isnt actively traded enough for me to want any part of it. It seems like it would hurtle south at the speed of a light if a banker even called in sick with the flu.

You are a braver man than me!

(and the spread is horrendous, if you can even find it - I'd have to synth it, which is a whole new level of annoying and expensive)
When you have to shoot, shoot. Dont talk.
  • #53,925
  • Feb 4, 2010 6:05am Feb 4, 2010 6:05am
Quoting joelcf
Can I ask why you are limiting the pairs you watch? Those are the 'strong hands', I guess, but watching lots of pairs isnt a problem at all.. its only bad when you try and trade too many (either positively or negatively) correlated pairs.

(also, only just saw your pm sorry.. will have a think and shoot some ideas back tomorrow)
Well Joe i am a student of Rac.

I mark my PPZ and S/R areas on Daily/WEEKLY time frames, Then i determine the direction and power(stamina) of the trend, In the end i will walk down to 4H and 1H and start firing with my shot gun, in direction of the trend off course until there is a setup like OIL or GOLD i just posted, or if we reach a Swing high/low. I am doing pretty good with a decent hit rate and R:R.

So i have to be quick on moving the stops, closing half position, killing the trades, i have to realize my mistakes before it's to late ( like i often take trades inside a range and when i find out by switching to daily or weekly i just kill them.), often i change my bias in minutes, closing the opened trades, and taking the opposite trades.

I would like to see a halt in the momentum, like a pause of 8-20 hours in a trend then i mark the boundaries created by the halt(pause), and when i see price moving fast with volume ( we don't have the real volumes but speed of the price tells) i pull the trigger. so this is my only indicator (along side with FIB's+PPZ+S/R) .

The problems i am facing are:

1- I find myself short or long in all yen pairs at the same time.

2- (AU and UC) , (GCHF and EG) , (EU and GU) often give me conflicting signals.

3- And Some times (EU+GU) conflict with (EJ + GJ).

So i don't wan't correlations, i wan't to get rid of them.
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  • #53,926
  • Feb 4, 2010 6:11am Feb 4, 2010 6:11am
Quoting joelcf
lol, I actually considered adding it - it essentially acts like a crazy stepchild of AUDJPY and USDCHF, but with a bit of commodity/china bipolar craziness thrown in for good measure. At the end of the day though, it just isnt actively traded enough for me to want any part of it. It seems like it would hurtle south at the speed of a light if a banker even called in sick with the flu.

You are a braver man than me!

(and the spread is horrendous, if you can even find it - I'd have to synth it, which is a whole new level of annoying and expensive)...
I have to admit I very rarely trade it, it's just a little too risky for my liking. It's a case of quick in and even quicker out!

My spread is a not unreasonable 5.7 at the moment
  • #53,927
  • Feb 4, 2010 6:12am Feb 4, 2010 6:12am
Anyone liking the CAD/CHF BEOB on 4h?
  • #53,928
  • Feb 4, 2010 6:15am Feb 4, 2010 6:15am
Quoting squeezy
hmmmm,
let me see, retest of 61.8 fib of the daily and 50 fib of that pin....not the biggest of pins but shld work ......that shld be about 30 pips SL right

you spot it right but they are less risky when you take them on the first attempt,look and see by yourself on the daily chart,

the first time when she reach the 61.8 fib level it works nicely and it she stoped right at the first spotted critical point.

this time is more risky,but it may work being with the main trend wich is down.

if you are more a beginar you may say that we are fighting against a BUOB (see daily chart) but look where is it,is on minor swing low point,and she already break and reached at the first critical point,and do you think that a small in shape BUOB can turn around that huge downtrend,just think again........this is just another perspective of how I look at it.

hope I was clearly enough

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  • #53,929
  • Feb 4, 2010 6:21am Feb 4, 2010 6:21am
Quoting nasir.khan
Well Joe i am a student of Rac.

I mark my PPZ and S/R areas on Daily/WEEKLY time frames, Then i determine the direction and power(stamina) of the trend, In the end i will walk down to 4H and 1H and start firing with my shot gun, in direction of the trend off course until there is a setup like OIL or GOLD i just posted, or if we reach a Swing high/low. I am doing pretty good with a decent hit rate and R:R.

So i have to be quick on moving the stops, closing half position, killing the trades, i have to realize my mistakes before it's to late...
Here is an example.

First i went long at 1.5830, then it stopped me out.

As soon as it stopped me out i went short.

How quick was that.

P.S Please nobody bash me cause i am doing it for 3 months and i am demoing until i solve these little issues. lol
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  • #53,930
  • Feb 4, 2010 6:27am Feb 4, 2010 6:27am
This pair looks good for a break-out. I hope that I'm not posting the same take that someone else has. I couldn't find a chart that looked at this set-up the way I'd like to present it. The daily pin trade short was a great trade for me. I have been on the sidelines with GBPCHF since last friday. I am looking at a possible short again. What I see is that price has been ranging inside friday's bar for the last two days. I also observe that yesterdays bar was a pin off the 150ema. I think that we are headed lower in GBPCHF. What I'd like to see is a break low today and then tomorrow a test of the 1.6793. I will likely be a seller at that time with a TP in the 1.6625 area and a SL in the 1.685 area. I write all of this with a watchful eye on EURCHF. The Euro is looking very weak against the swiss and I see a large move upward of price last friday in the low 1.46 area. A break below 1.4670 could possibly bring in "buyers" again and screw with my GBPCHF chart. If that happens, I'll be looking elsewhere.

K.I.S.S.
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  • #53,931
  • Feb 4, 2010 6:36am Feb 4, 2010 6:36am
Possible Setup on Cable .....However it's on 30 MIN Chart , DBLHC ....Potential of upside momentum ...Any Ideas ??!!
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  • #53,932
  • Feb 4, 2010 6:42am Feb 4, 2010 6:42am
Quoting KissFan
This pair looks good for a break-out. I hope that I'm not posting the same take that someone else has. I couldn't find a chart that looked at this set-up the way I'd like to present it. The daily pin trade short was a great trade for me. I have been on the sidelines with GBPCHF since last friday. I am looking at a possible short again. What I see is that price has been ranging inside friday's bar for the last two days. I also observe that yesterdays bar was a pin off the 150ema. I think that we are headed lower in GBPCHF. What I'd like to see is...
nicely spotted,the same goes with eurgbp

we have 2 matching lows at 0.8708

on the 4h the bondery range can be seen more better,

you may take the pure break if you are more risky or just wait for the pullback and PA

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  • #53,933
  • Feb 4, 2010 6:42am Feb 4, 2010 6:42am
Quoting Riskee
Possible Setup on Cable .....However it's on 30 MIN Chart , DBLHC ....Potential of upside momentum ...Any Ideas ??!!
This is the kind of chart I used to take a loss on. No more - as long as you recognise it is in a range, and you learn the game by playing the game*...

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* some smart guy said this once. forget who - he was pretty big, and talked kinda funny...
When you have to shoot, shoot. Dont talk.
  • #53,934
  • Feb 4, 2010 6:46am Feb 4, 2010 6:46am
Quoting joelcf
This is the kind of chart I used to take a loss on. No more - as long as you recognise it is in a range, and you learn the game by playing the game*...

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* some smart guy said this once. forget who - he was pretty big, and talked kinda funny...
Thanks for telling me pal , I really see alot of setups on smaller time frames , but I don't know how Accurate they are , been trading demo on Daily setups sometimes ,the 4H charts too , But I'm still a newbie for smaller time frames .
  • #53,935
  • Feb 4, 2010 6:49am Feb 4, 2010 6:49am
Quoting Riskee
Possible Setup on Cable .....However it's on 30 MIN Chart , DBLHC ....Potential of upside momentum ...Any Ideas ??!!
open the daily chart and see the size of yesterday BEOB it's indicating a continuation (this how i see it).

and also it did not respected 1.5830 much.
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  • #53,936
  • Feb 4, 2010 7:03am Feb 4, 2010 7:03am
Quoting joelcf
This is the kind of chart I used to take a loss on. No more - as long as you recognise it is in a range, and you learn the game by playing the game*...

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* some smart guy said this once. forget who - he was pretty big, and talked kinda funny...

I can't say this any better than Joel. I can just say it differently. For one thing, I'm not going to trade counter to the daily trend based on a 30 min bar. No doubt an impressive bar but you ae trading into some areas that you don't want to trade into. Here is what I see.

K.I.S.S.
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  • #53,937
  • Feb 4, 2010 7:09am Feb 4, 2010 7:09am
Quoting KissFan
I can't say this any better than Joel. I can just say it differently. For one thing, I'm not going to trade counter to the daily trend based on a 30 min bar. No doubt an impressive bar but you ae trading into some areas that you don't want to trade into. Here is what I see.

K.I.S.S.
Hey Kiss,

Take that pin and go short. lol
  • #53,938
  • Feb 4, 2010 7:09am Feb 4, 2010 7:09am
Quoting MattW
Anyone liking the CAD/CHF BEOB on 4h?
Hi MattW

I was looking at this one to enter at about 0,9957 but few pips below is daily PPZ 0,9940 + fibo and it make me worry. Maybe if next h4 bar close under 0,9940 i will consider enter below 0,9940 and put s/l at about 0,9970.

That's my rookie opinion

http://picnac.com/images/9113trade4.gif
  • #53,939
  • Feb 4, 2010 7:17am Feb 4, 2010 7:17am
Quoting nasir.khan
Hey Kiss,

Take that pin and go short. lol
What I like most about the J16 thread is th nasir.khan signal service/trading room!

K.I.S.S.
  • #53,940
  • Feb 4, 2010 7:24am Feb 4, 2010 7:24am
Quoting KissFan
What I like most about the J16 thread is th nasir.khan signal service/trading room!

K.I.S.S.
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