james16 Chart Thread | Page 3009 | 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

  • #60,161
  • Apr 7, 2010 6:19pm Apr 7, 2010 6:19pm
Quoting TiaForex
Looking back on this one I feel the same. I have no problem with passing on a trade and seeing it go to the moon if it's within my rules to pass. And I certainly don't look back and judge whether I should have taken a trade by whether it "worked out", but I think I got gunshy with this bad boy (that was for you Mike ). There was a lot of traffic but it was far enough away to watch for a reversal and the bar was fine. Sometimes when you trade as little as me (with these methods anyway) you can get gunshy after a few days without trading. Especially...
agreed I do think I missed this one though especially with multiple feeds showing us some bull.

Onwards though, bothered me for about a minute to be honest.


Yankees time!

Mike
  • #60,162
  • Apr 7, 2010 7:26pm Apr 7, 2010 7:26pm
Quoting Scotty2Cues
Im confused! Is this about the same setup..?

Below is from from Aug31 2005

and Jims reply...

Then on Sep 16 2005 we have

Jims reply...

The advice is contradicted?
The first poster had no graph, the second had this
It may be a bit of a contradiction. As Mike said, he seemed to be talking himself out of it. And advises basicly to pass on it. Much like we hear from Mike. lol

Quoting james16
7. bottom line is the negatives outway the positives here. 8. thanks for your input. jim
His last reply was basicly "Hey, PA setups are a powerful thing, trade them wisely". So-so setups can turn out great or fall flat on your face. Waiting for the best A+ setups is our goal.

The only thing that made this an A trade was how it broke.
Quoting james16
thats what i am always trying to point out there are always trades, why not wait for the A trades like this one.
This post reminded me of Jim's more recently posted charts. I think he would have advised the Aug 2005 BUOB similar to this one. Which turn out as he predicted. Nicely.

Jim
Attached Image(s) (click to enlarge)
Click to Enlarge Name: j1620.gif Size: 38 KB
Click to Enlarge Name: j1624.gif Size: 32 KB
Indicators show the past. Price Action "Indicates" the future.
  • #60,163
  • Apr 7, 2010 7:45pm Apr 7, 2010 7:45pm
I get the good feel for it... may end till the s/l hit
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20100408_audjpy.gif Size: 18 KB
Click to Enlarge Name: 20100408_audjpy 2.gif Size: 20 KB
Back to the beginning ... demo
  • #60,164
  • Apr 7, 2010 7:54pm Apr 7, 2010 7:54pm
Downtrend --> Inside bars (pause moment) --> failed to reverse --> get on the trend again

I missed the BEOB at first...
Attached Image (click to enlarge)
Click to Enlarge Name: 20100408_eurnzd.gif Size: 17 KB
Back to the beginning ... demo
  • #60,165
  • Apr 7, 2010 8:16pm Apr 7, 2010 8:16pm
Quoting mbqb11
Hey tJ

My overall issue was mostly with the size of the bar vs how strong the downward move has been(although good divergence and round number)....
Hi Mike,

May i noe the first trouble area for your nzd/cad? izzit 0.7036??

thanks,
skin
  • #60,166
  • Apr 7, 2010 8:18pm Apr 7, 2010 8:18pm
Quoting skinfx
Hi Mike,

May i noe the first trouble area for your nzd/cad? izzit 0.7036??

thanks,
skin
Hey Skin

We hit the first one today, but the way we hardly stalled makes me think the second area should get hit now too

Best
mike
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 12 KB
  • #60,167
  • Apr 7, 2010 8:20pm Apr 7, 2010 8:20pm
Anyone watching the CADJPY Daily BEOB?

Pros:
+Swing high.
+Round number 94.00.
+Strong bar.
+Close below the previous bars.

Cons:
-Ideally would be at 95.00 BRN.
-No divergence.
Attached Image (click to enlarge)
Click to Enlarge Name: CAJPY Daily 08.04.2010.PNG Size: 68 KB
  • #60,168
  • Apr 7, 2010 8:31pm Apr 7, 2010 8:31pm
Quoting ddinnov
Hi guys,
Thanks for the traffic explanation and the vid...
Hello ddinnov,
i have seen your previous posts.. i even checked your post history.

one of the first habits u should have is looking at the big picture -- that is, looking at many bars/zooming out instead of zooming in.

it's pretty much like crossing a street:
u cant just look to the left & ignore the right side or
u cant look at only 1/4 of the left & right side.
or else..... BOOM

trading is risky when u have a narrow field of vision
  • #60,169
  • Apr 7, 2010 9:18pm Apr 7, 2010 9:18pm
Quoting Johnsie
Anyone watching the CADJPY Daily BEOB?

Pros:
+Swing high.
+Round number 94.00.
+Strong bar.
+Close below the previous bars.

Cons:
-Ideally would be at 95.00 BRN.
-No divergence.
oooOOOO! Yum.

Didn't have that one up. Thank you.

Good space. Pity about location though.
Bundy's status today: "Waiting..."
  • #60,170
  • Apr 7, 2010 9:34pm Apr 7, 2010 9:34pm
Quoting nasir.khan
Does that feel right Ghous?
.
I would pass on that. I like my IPBs to give me a signal of a halt, either by leaving a small wick or by closing on the side my trade will be on (a bullish close on a bullish IPB and vice versa) or both. And then again if this happens at an important location such as at a BRN, you have a real good chance at it.

In my book Ej's not a tradable IPB in terms of bar shape and also because of the poor location it is sitting on.

g.
I believe . . .
  • #60,171
  • Apr 7, 2010 9:39pm Apr 7, 2010 9:39pm
you had your break Jim.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 29 KB
I believe . . .
  • #60,172
  • Apr 7, 2010 9:54pm Apr 7, 2010 9:54pm
Quoting ghous
I would pass on that. I like my IPBs to give me a signal of a halt, either by leaving a small wick or by closing on the side my trade will be on (a bullish close on a bullish IPB and vice versa) or both. And then again if this happens at an important location such as at a BRN, you have a real good chance at it.

In my book Ej's not a tradable IPB in terms of bar shape and also because of the poor location it is sitting on.

g.

Bullish IPB. I didn't take it, but it fun to see these work. A deeper swing low would have been nicer.

Location and structure are very important.

Thanks ghous.

Attached Image (click to enlarge)
Click to Enlarge Name: guipb.gif Size: 26 KB
Indicators show the past. Price Action "Indicates" the future.
  • #60,173
  • Apr 7, 2010 9:56pm Apr 7, 2010 9:56pm
Quoting jarroo
Bullish IPB. I didn't take it, but it fun to see these work. A deeper swing low would have been nicer.

Location and structure are very important.

Thanks ghous.

...
I believe . . .
  • #60,174
  • Apr 7, 2010 10:01pm Apr 7, 2010 10:01pm
Quoting supremeChaos
it's pretty much like crossing a street:
u cant just look to the left & ignore the right side or
u cant look at only 1/4 of the left & right side.
or else..... BOOM

trading is risky when u have a narrow field of vision
so is crossing the road.
check your PM box in abt 5mins dude. =)
One Mind, Any Market
  • #60,175
  • Apr 7, 2010 10:02pm Apr 7, 2010 10:02pm
Quoting ghous
...

Your Daily GU bearish IPB is still in play my friend. S/L looks safe and untouchable. Nothing wrong with a break even trade.


Quoting ghous
You identified the deficiencies well.

It may not be a great take long, but in my book was a good short trade. I played it as a bearish IPB...and got out with a BE.

g.
Indicators show the past. Price Action "Indicates" the future.
  • #60,176
  • Apr 7, 2010 10:08pm Apr 7, 2010 10:08pm
Quoting jarroo
Your Daily GU bearish IPB is still in play my friend. S/L looks safe and untouchable. Nothing wrong with a break even trade.
oh never mind, I have new problems that have replaced old ones. We had another IPB on GU and this one I wanted to take as my first 2day IPB ( we had one earlier on the Eur/Aud that did work out nicely)but missed it, still have a sell limit so if price can look to pull back before it drops I have a chance...sheesh...lol

g.
I believe . . .
  • #60,177
  • Apr 7, 2010 10:11pm Apr 7, 2010 10:11pm
.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 50 KB
  • #60,178
  • Apr 7, 2010 10:18pm Apr 7, 2010 10:18pm
Quoting ghous
oh never mind, I have new problems that have replaced old ones. We had another IPB on GU and this one I wanted to take as my first 2day IPB ( we had one earlier on the Eur/Aud that did work out nicely)but missed it, still have a sell limit so if price can look to pull back before it drops I have a chance...sheesh...lol

g.

That's a nice one.

IPBs are definitely a valid PA setup in my book.

Thanks for all your work on these, g. I would have never known about them if it wasn't for you.
Attached Image (click to enlarge)
Click to Enlarge Name: guipb2day.gif Size: 23 KB
Indicators show the past. Price Action "Indicates" the future.
  • #60,179
  • Apr 7, 2010 10:29pm Apr 7, 2010 10:29pm
Quoting wh1zz0
Yeah that's the plan but I have an alert set at 95.50 area, then I'd know what to do next, if to look to add or look to close all.
Hi Whiz,

Could you teach me how to set an alert?
Is it to your cellphone or is it an alarm will trigger in your trading platform?
Thanks

CY
  • #60,180
  • Apr 7, 2010 10:49pm Apr 7, 2010 10:49pm
Hello ertorque,
do u use MT4?
in MT4's Terminal, u will see 'Trade, Account History, News, ...Alert.. Journal..'
Go to the Alert Tab, & play with it.
or try something like a trendline alert.
47 traders viewing now