james16 Chart Thread | Page 3097 | 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

  • #61,921
  • Apr 26, 2010 9:03pm Apr 26, 2010 9:03pm
Quoting The Captain
So you were the guy who was saying the same thing at all of these areas?
One way to illustrate the "Not Yet" feeling I have here.

This is complicating things by using a lower time frame, but it illustrates the problem with taking a short here after an ugly sideways period.
Attached Image (click to enlarge)
Click to Enlarge Name: aj not yet h4.gif Size: 12 KB
Bundy's status today: "Waiting..."
  • #61,922
  • Apr 26, 2010 9:07pm Apr 26, 2010 9:07pm
Quoting Dan Gilbert
ppl get.... "testy" when you mention trend
I wouldn't have said 'testy'. He made a good point on your chart.

You have to point out the difference between the ones you marked and the one the Captain did.

Remember, not everyone has been looking at charts as long as you.
Bundy's status today: "Waiting..."
  • #61,923
  • Apr 26, 2010 9:08pm Apr 26, 2010 9:08pm
Quoting Dan Gilbert
ppl get.... "testy" when you mention trend
Not testy.. But if you always follow the trend, you will never catch a reversal.

Thanks Gents.
Cap
  • #61,924
  • Apr 26, 2010 9:12pm Apr 26, 2010 9:12pm
Quoting bundyraider
I wouldn't have said 'testy'. He made a good point on your chart.

You have to point out the difference between the ones you marked and the one the Captain did.

Remember, not everyone has been looking at charts as long as you.
Sideways. But a little staggered too....
Attached Image (click to enlarge)
Click to Enlarge Name: aj not yet daily.gif Size: 12 KB
Bundy's status today: "Waiting..."
  • #61,925
  • Apr 26, 2010 9:13pm Apr 26, 2010 9:13pm
countertrend yes...... triple top with divergence also yes...

im short the audjpy. 2% risk. gona go to be at the 50 level. i love this formation especialy becuase the wick made a new high and got rejected.
chart?
http://i432.photobucket.com/albums/q...dun/audjpy.jpg


Quoting The Captain
Howdy.

Nobody likes the possible tops on AUD/JPY and CAD/JPY?
  • #61,926
  • Apr 26, 2010 9:15pm Apr 26, 2010 9:15pm
Quoting bundyraider
Sideways. But a little staggered too....
Thanks dude. Very clear explanation - appreciate it.
Cap
  • #61,927
  • Apr 26, 2010 9:21pm Apr 26, 2010 9:21pm
Quoting The Captain
Not testy.. But if you always follow the trend, you will never catch a reversal.

Thanks Gents.
That's true, but at the same time, reversals are the dangerous ones to "hope" for.

"He who pick bottom get smelly finger" as someone once said. lol

If you were after a reversal you need a REALLY good signal bar that shows a major change in balance between buyers and sellers. I'm sure if you look at the bar on my chart it's not screaming reversal. It's saying "Sellers came in at that top."

To play reversals you really want it to say "Sellers came in, and buyers got the hell out of their way, ....then joined them"

Hope that helps, dude.
Bundy's status today: "Waiting..."
  • #61,928
  • Apr 26, 2010 9:26pm Apr 26, 2010 9:26pm
Quoting The Captain
Not testy.. But if you always follow the trend, you will never catch a reversal.

Thanks Gents.
for me it's just one more criteria to keep me from having a loser....
Many choose unhappiness over uncertainty.
  • #61,929
  • Apr 26, 2010 9:27pm Apr 26, 2010 9:27pm
Quoting Dan Gilbert
Jim does talk of trend. Go back and read this thread, you will see many times he has pointed to the importance of going with the flow on his charts. I am not going to find the example I currently have in my memory banks, but one chart he posted was in a serious down trend and he highlighted all the bullish PA bars that FAILED during that strong trend.
Hi guys, anyone knows which jim's chart/post dan mention above?
  • #61,930
  • Apr 26, 2010 9:56pm Apr 26, 2010 9:56pm
now risk free after +24..

Quoting pizdun
countertrend yes...... triple top with divergence also yes...

im short the audjpy. 2% risk. gona go to be at the 50 level. i love this formation especialy becuase the wick made a new high and got rejected.
chart?
http://i432.photobucket.com/albums/q...dun/audjpy.jpg
  • #61,931
  • Apr 26, 2010 9:59pm Apr 26, 2010 9:59pm
for the trendseeker in you gilbert. check out the usd cad.....pin + inside bar at RN should take us to the bar lows....after that who knowss

oops saw u already posted this

Quoting Dan Gilbert
for me it's just one more criteria to keep me from having a loser....
  • #61,932
  • Apr 26, 2010 10:00pm Apr 26, 2010 10:00pm
Quoting Dan Gilbert
uh oh. I4B on 1.000
would this be a I14b or am I missing something?
  • #61,933
  • Apr 26, 2010 10:07pm Apr 26, 2010 10:07pm
it could be an inside 97 bar. that doesnt matter. what matters is that you understand what the bar means...

Quoting spookie94
would this be a I14b or am I missing something?
  • #61,934
  • Apr 26, 2010 10:18pm Apr 26, 2010 10:18pm
Quoting pizdun
for the trendseeker in you gilbert. check out the usd cad.....pin + inside bar at RN should take us to the bar lows....after that who knowss

oops saw u already posted this
I don't want people to think I'm some kind of crazy trend only kinda guy, but honestly, there's a few pairs you have to be insane to trade against right now. Mainly the commodity currencies...

also until EU starts to prove it's ready to move up in some way (no more lower lows), I will not go long on it. It's just not logical to me.

Now if CHFJPY forms some PA at the top of the current consolidation, of course I'll take it, as I have in the recent past.

I just don't see any reason to go anti trend WHEN THERE IS A STRONGGGGG TREND PRESENT. unless you want to take a riskier trade than is necessary to make profit.

I have taken anti-trend trades and I can say that taking a trade with such a small expectation of profit makes me feel like I should avoid that particular risk all together (or at least reduce my risk on the anti-trend trades) and wait for a much cleaner piece of price action going with the flow.

If you find me one highly successful fund manager who swears by anti-trend trading, and constantly on the search for a "trend reversal" the search will be as hard as finding a needle in a haystack.
Many choose unhappiness over uncertainty.
  • #61,935
  • Apr 26, 2010 10:18pm Apr 26, 2010 10:18pm
Quoting pizdun
now risk free after +24..
hit the X near account summary to hide the info.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 67 KB
  • #61,936
  • Apr 26, 2010 10:23pm Apr 26, 2010 10:23pm
Quoting spookie94
would this be a I14b or am I missing something?
Yes sir, but a bar is always referred to as an I4B... some bars can be I20B's, but it's still called an I4B...
Many choose unhappiness over uncertainty.
  • #61,937
  • Apr 26, 2010 10:24pm Apr 26, 2010 10:24pm
counter trend trading can be profitable if you know what you are doing...... i no longer take little pinbarss short after a month long bullish move... but miltiple tops with div i have no problems with.. of course to each his own...


Quoting Dan Gilbert
I don't want people to think I'm some kind of crazy trend only kinda guy, but honestly, there's a few pairs you have to be insane to trade against right now. Mainly the commodity currencies...

also until EU starts to prove it's ready to move up in some way (no more lower lows), I will not go long on it....
  • #61,938
  • Apr 26, 2010 10:29pm Apr 26, 2010 10:29pm
any comments on Aud/Chf? Nice little diamond shaped pattern at 1.000.
  • #61,939
  • Apr 26, 2010 10:30pm Apr 26, 2010 10:30pm
Quoting pizdun
counter trend trading can be profitable if you know what you are doing...... i no longer take little pinbarss short after a month long bullish move... but miltiple tops with div i have no problems with.. of course to each his own...
double tops/triple tops/head and shoulders is one thing. In fact head and shoulder patterns are probably one of the best reversal patterns because it's showing the swing highs and swing lows are now changing direction.

THIS, ON THE OTHER HAND, IS SUICIDE.
Attached Image
Many choose unhappiness over uncertainty.
  • #61,940
  • Apr 26, 2010 10:30pm Apr 26, 2010 10:30pm
Quoting Dan Gilbert
Yes sir, but a bar is always referred to as an I4B... some bars can be I20B's, but it's still called an I4B...
gotcha
175 traders viewing now