james16 Chart Thread | Page 3129 | 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

  • #62,561
  • May 3, 2010 8:59am May 3, 2010 8:59am
Bee24 you are a star.

I am on 7 and I thought it was some MS nonsense in the start menu, so I deleted it.

It lives in accessories.

Much better - much easier.

Thanks a lot for that one.
  • #62,562
  • May 3, 2010 9:11am May 3, 2010 9:11am
Quoting StoragePro

If 95% of traders fail, why is it that 95% of traders here are claiming success? Truth be told.. it ain't being told.
I wonder where this figure comes from. Its like the same figure that is used for accounts on the betting exchange Betfair. They say 98% of the accounts is not in consistent profit.

This suggests that a few people are making a killing - they say bookmakers use Betfair and they are still robbing the punters blind. I think that Betfair itself is the reason no-one is making money. Betting is like forex, you could say forex is just betting, which I think it is, so I spread bet.
The money just goes swirling round and every time is goes round the brokers slice off their spread, so there is a little bit less each time round.

May be those who make it all the way to James 16 have already arrived at the goal of consistent profits or are in the right place to learn how to do that.
It may be that like gamblers they tend to talk about their wins and forget their losses.
The latter is the most likely I think...
  • #62,563
  • May 3, 2010 9:14am May 3, 2010 9:14am
Quoting Steve0001
Anybody paying any attention to the 4hr I4B that formed on AUDNZD that includes the RN 1.27000 (and a PB a few bars ago)? Anybody try to play I4Bs on a 4 hr chart? PBs also just formed on the weekly and monthly charts (http://www.forexfactory.com/showpost...ostcount=62463).

Steve0001
Steve there was a bank holiday in London (and japan) today. I'm not too keen on taking inside bars that are created through lack of volume rather than a buyer/seller battle being in place. Otherwise I personally usually have no qualm in taking 4hr i4bs.
Bundy's status today: "Waiting..."
  • #62,564
  • May 3, 2010 9:40am May 3, 2010 9:40am
Just a review...

Yesterday I feel in love with a PB on daily NZDCHF:

 

  1. @ swing high
  2. @ upper intermediate channel TL (yellow line)
  3. below 1.7900
  4. bearish divergence

Still it was a countertrend trade after a very steep up move and, as one can clearly see, selling on friday and ends of month seems not as reliable as on other days. Furthermore BRN 1.8000 may act as magnet for price.

Have a great week!
Hans

Attached Image (click to enlarge)
Click to Enlarge Name: 100503_nzdchf_01.gif Size: 37 KB
Thanks J16, Sam Seiden, Udine and Jacko
  • #62,565
  • May 3, 2010 9:43am May 3, 2010 9:43am
Hello!

So many PA is "failing" right now, friday profit taking PA..? I mean in my watching list.. NZDJPY pinbar, USDJPY BEOB and AUDCHF BEOB. Anyway I´m only shorting AUDCHF from [email protected] at the moment

Nonetheless, have a good week everyone
  • #62,566
  • May 3, 2010 9:58am May 3, 2010 9:58am
Quoting nuclear62
Hello!

So many PA is "failing" right now, friday profit taking PA..? I mean in my watching list.. NZDJPY pinbar, USDJPY BEOB and AUDCHF BEOB. Anyway I´m only shorting AUDCHF from [email protected] at the moment

Nonetheless, have a good week everyone
Hey nuclear,

AUDCHF was another one I watched. Did not work out for me neither, since I overrated the profit taking on friday - so I got out at BE. But in my opinion it did what it was supposed to do: broke the BEOB and moved to FTA (see the gap @ April 11th). In hindsight I should have passed it due to traffic. Another reminder for being more picky.
Attached Image (click to enlarge)
Click to Enlarge Name: 100503_audchf_01.gif Size: 34 KB
Thanks J16, Sam Seiden, Udine and Jacko
  • #62,567
  • May 3, 2010 10:04am May 3, 2010 10:04am
Here's an pin bar that played out nicely. Mini-sized Dow 15-min chart.

Attached Image (click to enlarge)
Click to Enlarge Name: 05-03-10 ymm0 m15.gif Size: 13 KB
skype: ststroud. let's talk trading.
  • #62,568
  • May 3, 2010 12:12pm May 3, 2010 12:12pm
Quoting ira
Mike, can you please comment on this setup. Any reasons for not taking it?
Hey Ira

Basically the summary is just a very tiny bar not at a great swing high. I wrote a quick blurb here the other day.

http://www.forexfactory.com/showpost...ostcount=62462

Hope that helps
Mike
  • #62,569
  • May 3, 2010 12:17pm May 3, 2010 12:17pm
Quoting Pinbar
Hi, people

I am new to FF as a member but not as a reader.
Actually, I have been reading and trying to absorb the thread since December of last year and Finally got to the end.
It was tough as, this is quite rightly a popular thread and pages would appear almost as fast as I was reading them, I got the better of you on weekends though. LoL

Have demo traded for almost 3 months with good but not brilliant results, that said the account has increased by 15% in the latter half of my trading, probably because I learned to not jump on every PB, IB...
Hey Pinbar

I can not believe you are the first person to take that name after all these years! Good grab!

As for you Weekly usd/jpy, that is not a pinbar. That is what I believe people call an IPB, or an invertedpinbar, or insidepinbar, note ven positive. Not a J16 bar, someone named ghous has coin this term so I can't really comment too much on it as I don't know them too well. But my one thing to say would be trying to analyze a bar and then go to each different timeframe is(in my view) an overcomplication and usually will lead to analysis paralysis. I think the easiest thing is to find your good bars and then just trade them on what you see in that timeframe. The daily u/j you pointed to was a very very tiny pinbar at a so-so swing high. It never broke so no trade, but again maybe a C bar at best.

Welcome again
Mike
  • #62,570
  • May 3, 2010 12:19pm May 3, 2010 12:19pm
Quoting nuclear62
Hello!

So many PA is "failing" right now, friday profit taking PA..? I mean in my watching list.. NZDJPY pinbar, USDJPY BEOB and AUDCHF BEOB. Anyway I´m only shorting AUDCHF from [email protected] at the moment

Nonetheless, have a good week everyone
Hey Nuclear

I wouldn't say any of these have failed though, nzd/jpy never broke(so not a valid bar unless it broke) same with usd/jpy, and aud/chf gaped out to the first trouble area on my broker. If you don't wait for breaks then this is sort of the catch. If they do break you are in with a better position size, if they don't your in prior to a confirmed bar(not that there is anything wrong with that). Weak profit taking caused these small bars it seems.

Best
Mike
  • #62,571
  • Edited 12:33pm May 3, 2010 12:23pm | Edited 12:33pm
Quoting HanSolo
Hey nuclear,

AUDCHF was another one I watched. Did not work out for me neither, since I overrated the profit taking on friday - so I got out at BE. But in my opinion it did what it was supposed to do: broke the BEOB and moved to FTA (see the gap @ April 11th). In hindsight I should have passed it due to traffic. Another reminder for being more picky.
Hey Han!
For me too, you´re right, thank you for your post

And thanks Mike, that is really true, learning and learning a lot in this thread, hope I really evolve as a trader, trying hard
  • #62,572
  • May 3, 2010 12:23pm May 3, 2010 12:23pm
I dont think I've heard anyone mention the monthly AUDNZD BEOB. Its at a swing high and is being rejected off the 1.3 BRN. It also has divergence as confluence.

Thoughts?
  • #62,573
  • May 3, 2010 12:40pm May 3, 2010 12:40pm
Quoting nuclear62
Hey Han!
For me too, you´re right, thank you for your post

And thanks Mike, that is really true, learning and learning a lot in this thread, hope I really evolve as a trader, trying hard
that's how we do it
  • #62,574
  • May 3, 2010 12:56pm May 3, 2010 12:56pm
Quoting BWise
I dont think I've heard anyone mention the monthly AUDNZD BEOB. Its at a swing high and is being rejected off the 1.3 BRN. It also has divergence as confluence.

Thoughts?
yeah this ones interesting just so much garbage it is trading into. Very choppy look from this timeframe. 1.2550 looks to be coming though

Mike
  • #62,575
  • May 3, 2010 1:33pm May 3, 2010 1:33pm
Quoting HanSolo
Hey nuclear,

AUDCHF was another one I watched. Did not work out for me neither, since I overrated the profit taking on friday - so I got out at BE. But in my opinion it did what it was supposed to do: broke the BEOB and moved to FTA (see the gap @ April 11th). In hindsight I should have passed it due to traffic. Another reminder for being more picky.
hi HanSolo, this is a big step to have taken bro hearing it said and seeing it for yourself from the charts is another thing entirely!nice one dont underestimate what you said here...

keep it up

jon
PATIENCE... DISCIPLINE
  • #62,576
  • May 3, 2010 1:44pm May 3, 2010 1:44pm
Quoting mbqb11
Hey Ira

Basically the summary is just a very tiny bar not at a great swing high. I wrote a quick blurb here the other day.

http://www.forexfactory.com/showpost...ostcount=62462

Hope that helps
Mike
Thank you for your help , and I am sorry that I missed your post earlier.
  • #62,577
  • May 3, 2010 2:04pm May 3, 2010 2:04pm
.........Euro rising....nice nice....very nice gives me another opportunity to SHORT again after the rise/retracement......cheers

Quoting fxeturn
Virtually no PAs today so far...not even a B setup for me... by the way, Greece got bailout. Euro rising?
  • #62,578
  • May 3, 2010 2:23pm May 3, 2010 2:23pm
Would this be an I5Bar?
High at BRN 12600 and low at 12230, but middle of trading range for the last 3 months.
Dan?

Thanks J67
Attached Image (click to enlarge)
Click to Enlarge Name: EUR JPY 3.v.10.JPG Size: 206 KB
  • #62,579
  • May 3, 2010 2:33pm May 3, 2010 2:33pm
Quoting Jonners67
Would this be an I5Bar?
High at BRN 12600 and low at 12230, but middle of trading range for the last 3 months.
Dan?

Thanks J67
Hey J

Do you mean today's current bar on your chart?

If so that is not an inside bar. To be an inside bar the entire range(high to low) must be contained within the previous bar. Two bars prior was an inside bar.

Mike
  • #62,580
  • May 3, 2010 2:40pm May 3, 2010 2:40pm
Mike thanks. I was thinking of Dan's / Ghous' inside 4 bars - where the bar is within the range of the previous 3 bars - or have I got that horribly wrong?

Just wanted to do some demo's on it and searched the thread but cannot (yet) find the full description. I know you posted a link a few days ago but I wondered if there was anything more comprehensive. They seem to wind up into big moves.

I'll keep searching. As ever, thanks.

J67
47 traders viewing now, 1 is registered:
Zojahamad