james16 Chart Thread | Page 2804 | 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

  • #56,061
  • Feb 24, 2010 1:41pm Feb 24, 2010 1:41pm
I like your style , you know it, I understand your trading with pins/ct + div etc but
i really don't understand what and why you trade here.
and funny little pins...wtf

Quoting Ryanmcd
Short 7 positions just close it all out, yes I do get whipped sometimes when it's sideways but starting with 2% risk for about about 25% gain is worth it. Or you can be smart and play with the 1 position and CT stuff

P.S. Sign up my to Rymacdaddy's billions of pips system! only 3k a seat, seating limitied to 150 and the 1st 50 people get a free stuffed bunny!
Attached Image (click to enlarge)
Click to Enlarge Name: easy2.jpg Size: 141 KB
  • #56,062
  • Feb 24, 2010 1:42pm Feb 24, 2010 1:42pm
USD/JPY - nother controversial situation.

Here's another situation where I'm trying to figure out what to do. Ive read lots of books about catching reversals with candles + RSI, but it hasn't been working to well for me. If this pair broke upwards on the hourly, I think I would go long even agaisnt a pretty steep drop. Should I not fight the falling knife or are "oversold" trades like these profitable?

edit: What if the current candle shown on the 4-hour was a bullish engulfing? would it be a good trade in that case?

Attached Image (click to enlarge)
Click to Enlarge Name: mice 3.JPG Size: 134 KB
Attached Image (click to enlarge)
Click to Enlarge Name: mice 4.JPG Size: 143 KB
  • #56,063
  • Feb 24, 2010 1:42pm Feb 24, 2010 1:42pm
Another try on EU 4H PIN, triggered on my FXDD feed. Anyone in? Nice space to next PPZ around 1.3460 and was very save with tight SL above pre-PIN bar. I would appreciate comments from senior members about your ideas. Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_pin_4h_trade2.gif Size: 15 KB
  • #56,064
  • Feb 24, 2010 1:53pm Feb 24, 2010 1:53pm
Quoting Jankone
I like your style , you know it, I understand your trading with pins/ct + div etc but
i really don't understand what and why you trade here.
and funny little pins...wtf

Not all of them are pins they are just bars, nothing special. When it's running the bands I do care what it looks like I just want to get in it, and it's the same crap I always did, in a trend buy/sell the pullbacks, if it's a pin good in not that's fine too.
Keep taking CT trades, I need more money
  • #56,065
  • Feb 24, 2010 1:54pm Feb 24, 2010 1:54pm
Quoting nasir.khan
Well if you trade daily and weekly you don't have to worry about market timings and news. So this is the reason people don't talk about time here. But if you trade 5M it's better to trade in best timings you could get depending on your GMT.

True but let me see you grow a small acount off the 4hr or daily. I can make what you do in a year in a few weeks. Also I trade for a living and that's what I enjoy doing now so why be a lazy ass and look at the market everyday why I watch tv or sit at the lake? I want some structure going on, I like getting up at 8am
Keep taking CT trades, I need more money
  • #56,066
  • Feb 24, 2010 1:58pm Feb 24, 2010 1:58pm
Quoting Ryanmcd
True but let me see you grow a small acount off the 4hr or daily. I can make what you do in a year in a few weeks.

me loves 5/15/30 min charts. 1/4HR for direction of trend.

Only way I trade
lowest draw down possible please.
  • #56,067
  • Feb 24, 2010 2:01pm Feb 24, 2010 2:01pm
Quoting jarroo
now with the setup. . .
The Daily (pinish looking) BEOB off the strong PPZ level (.8850ish) , no surprise there. The BEOB sure would have be nicer if it was on the .8850 level.
Anyway, could Price be now heading down to continue its consolidation period? Maybe, the BEOB sure is telling us that it might be.

The bearish 4 hour PB with the support of the Daily BEOB is a good combination. But we still need to apply the A+ criteria to this PA setup.

There is a 61.8 fib and 50% ret from the most recent move down which is the Daily BEOB. The size of the PB could be much bigger. It is at a swing High albeit without much space. Alot of traffic on this one. (If only is was at the .8850 level). These disqualifiers alone would make a picky J16 trader pass without hesitation, especally on this time frame.

To trade it ( for me) would be to apply tight trade management, meaning moving to break even very quickly and there must be a hard and fast break of the PB. Anything less would make me kill it, meaning very little draw down if any.

Just some thoughts.

Jim
Attached Image(s) (click to enlarge)
Click to Enlarge Name: egdaily24a.gif Size: 26 KB
Click to Enlarge Name: eg424a.gif Size: 31 KB
Indicators show the past. Price Action "Indicates" the future.
  • #56,068
  • Feb 24, 2010 2:05pm Feb 24, 2010 2:05pm
With my style (your) present on the thread I have one problem, I generates really few possible trades. and I am really curious how to improve it .
what should I search for.... train etc..?
You know, if you write to people " I trade because I like this bar" it's really non-saying ...



Quoting Ryanmcd
Not all of them are pins they are just bars, nothing special. When it's running the bands I do care what it looks like I just want to get in it, and it's the same crap I always did, in a trend buy/sell the pullbacks, if it's a pin good in not that's fine too.
  • #56,069
  • Feb 24, 2010 2:29pm Feb 24, 2010 2:29pm
Quoting Jankone
With my style (your) present on the thread I have one problem, I generates really few possible trades. and I am really curious how to improve it .
what should I search for.... train etc..?
You know, if you write to people " I trade because I like this bar" it's really non-saying ...

Bill Williams, is all I have EVER used forever and it works. J16 just showed me a few bars too look at really the rest is Bill's stuff. It's all simple trend stuff, and finding a low risk way to get into a trend on a pullback or if it's hammereing up/down.
Keep taking CT trades, I need more money
  • #56,070
  • Feb 24, 2010 2:34pm Feb 24, 2010 2:34pm
What's his book exactly ?

Quoting Ryanmcd
Bill Williams, is all I have EVER used forever and it works. J16 just showed me a few bars too look at really the rest is Bill's stuff. It's all simple trend stuff, and finding a low risk way to get into a trend on a pullback or if it's hammereing up/down.
  • #56,071
  • Feb 24, 2010 2:35pm Feb 24, 2010 2:35pm
Hi all,
Looking for someone to have a look at this chart it is the GBPAUD Daily.
I am guessing I got it completely wrong when I thought this was a Bullish outside bar?
Or has it not had enough time to move?
Would it be retracing 1st, before moving up?
I ask because once it broke the top I thought it was away!!!
Anyway could someone give their opinion as to what to expect from this!!!
Thanks,
Dave.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud.gif Size: 20 KB
  • #56,072
  • Feb 24, 2010 2:36pm Feb 24, 2010 2:36pm
Quoting giotto
Another try on EU 4H PIN, triggered on my FXDD feed. Anyone in? Nice space to next PPZ around 1.3460 and was very save with tight SL above pre-PIN bar. I would appreciate comments from senior members about your ideas. Thanks.
The power of Big PA with the trend, my friend. (hey, that rhymes. lol)

Since the bearish PB is not at the ideal location, Swing High, our expectations are not as ambitious. but you never know, it could turn into a runner. We just have to protect ourselves and not turn a winner into a loss.

Your target is a bit aggressive. My chart shows previous bar High/Lows that are potential targets. Anyone of which could turn on you, so be aware.
Attached Image (click to enlarge)
Click to Enlarge Name: euro24.gif Size: 21 KB
Indicators show the past. Price Action "Indicates" the future.
  • #56,073
  • Feb 24, 2010 2:36pm Feb 24, 2010 2:36pm
"A" setup?
Attached Image (click to enlarge)
Click to Enlarge Name: gold.jpg Size: 109 KB
Wellcome to the good life!
  • #56,074
  • Feb 24, 2010 2:39pm Feb 24, 2010 2:39pm
Here is a trade closed out today

4hr in a nice downtrend. Price consolidates in a bearish flag type pattern around the .7000 round number +ppz(look to the left of the pattern at that box of consolidation). Breaks out and pullbacks to round number former flag and forms a BEOB engulfing 7 bars or so with a very strong close. First blue box is b/e second was full take profit.
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 14 KB
  • #56,075
  • Feb 24, 2010 2:51pm Feb 24, 2010 2:51pm
Quoting jarroo
The power of Big PA with the trend, my friend. (hey, that rhymes. lol)
...Thats what I ment (rhyme continues )

Quoting jarroo
Since the bearish PB is not at the ideal location, Swing High, our expectations are not as ambitious. but you never know, it could turn into a runner. We just have to protect ourselves and not turn a winner into a loss.
I know that previous one was in better area, but this seems to me as a rejection of that big PPZ barier around 1.3600 and as a confirmation of previous support lvl. I am going to move SL above high of this 4H bar as soon as new at 11pm will be created. Definitely dont want to have 40 pips loss after trade was triggered in right direction.

Quoting jarroo
Your target is a bit aggressive. My chart shows previous bar High/Lows that are potential targets. Anyone of which could turn on you, so be aware.
I see...in fact I have a TL there as well so we both talking about same thing. Lets see how hard is the barier Thanks for a view, Jarroo.
  • #56,076
  • Feb 24, 2010 2:53pm Feb 24, 2010 2:53pm
Quoting Ryanmcd
Here is the daily, HOW CAN YOU LOSE? yellow line = buy/sell you can throw all the other BS out the window, you dont even need any fib's, cycles, EW counts, PB's, voodoo, or any other crap. Look at price and trade it.

I read this post this morning and didn't have time to respond then but just have to say something now...

IMHO this is the most valuable post I have EVER read anywhere!!!

I spent nearly 10 years studying Forex looking for the holy grail of indicator BS and almost gave up in frustation. RSI, MACD etc etc - I used them all - My charts were works of art - but about as useful as a poke in the eye with a sharp stick.

Then I had an AHA moment and started to see things differently - I don't know why or how it happened but I started to notice that currencies(especially the Yooro) tended to trend(probly read it somewhere) and I started to follow Dr Joes advice - If it was going up I bought - if down I sold - SIMPLES.

Basically I started to buy the dips in an uptrend and sold the peaks in a down trend. you can build a big position doing that, with lower risk.

And I began to use SR as my tp or target where I tightened my stops and just waited for price to tell me 'where' next.

Almost every thread on this forum is dedicated to picking tops and bottoms as turning points - This is still important... but I now view SR as my target not a trade signal - hope this makes sense - think I've started to ramble a bit(too much pino noir).

Ryan, not everyone here will realise it but your post is pure gold-dust.
  • #56,077
  • Feb 24, 2010 2:58pm Feb 24, 2010 2:58pm
Quoting mbqb11
Here is a trade closed out today

4hr in a nice downtrend. Price consolidates in a bearish flag type pattern around the .7000 round number +ppz(look to the left of the pattern at that box of consolidation). Breaks out and pullbacks to round number former flag and forms a BEOB engulfing 7 bars or so with a very strong close. First blue box is b/e second was full take profit.
Different MT4...different PA, same result
Attached Image (click to enlarge)
Click to Enlarge Name: nu.gif Size: 17 KB
  • #56,078
  • Feb 24, 2010 3:03pm Feb 24, 2010 3:03pm
Quoting mbqb11
Here is a trade closed out today

4hr in a nice downtrend. Price consolidates in a bearish flag type pattern around the .7000 round number +ppz(look to the left of the pattern at that box of consolidation). Breaks out and pullbacks to round number former flag and forms a BEOB engulfing 7 bars or so with a very strong close. First blue box is b/e second was full take profit.
Classic Mike. I love these.

Also some support from the Daily trendline, fib rets and 150 ema.
Gee whiz, how many confluences are on this one. Wow.
Indicators show the past. Price Action "Indicates" the future.
  • #56,079
  • Feb 24, 2010 3:03pm Feb 24, 2010 3:03pm
Quoting Ryanmcd
Bill Williams, is all I have EVER used forever and it works. J16 just showed me a few bars too look at really the rest is Bill's stuff. It's all simple trend stuff, and finding a low risk way to get into a trend on a pullback or if it's hammereing up/down.
I was reading an article or a post that said every trader should at some point trade a system that they would never consider. The point was basically, by trying something you'd never consider your probably going to learn a few things. One you really do like it or solidify what you are currently doing. This is definitely a method I would never try. With that said, I'm thinking I should at least at one point actually take a look and try it. Who knows what I'll discover.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #56,080
  • Feb 24, 2010 3:04pm Feb 24, 2010 3:04pm
lol thanks, I keep looking back because I did the same crap then when I got a mentor to walk me through 100s of trades and 1000s of emails and phone calls daily. It seems people keep looking for good deals but if they just get into the trend it works, you think big players and market makers CT the market? HELL NO they cant because the only people at the tops and bottoms are the retards the lose over and over aka the 95% that trade here and they don't have the $$$$$ to fill them.


Buy / sell the pullbacks of a trend and you will be wrong 1 time the top or bottom. Sell the "top" "bottom" and you will be correct 1 time and it will fill you EGO and make you feel good and you can tell everyone what a market wizzard you are, but when you goto sleep at night you will know that you got HAMMERED the 3-4-5-8 times before that 1 trade and still be going to work for someone tomorrow.
Keep taking CT trades, I need more money
26 traders viewing now