james16 Chart Thread | Page 3302 | 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

  • #66,021
  • Jun 11, 2010 8:02am Jun 11, 2010 8:02am
Quoting jarroo
Rac will still look for bearish PA as confirmation after he enters, meaning he would (in this case) enter at 1.2150 (or 1.2147) and look for bearish PA on the 30Min or hourly or if not stopped out on the 4 hour as conformation.

Where as we will look for PA as confirmation and then enter.
at 1.2150,.... to the pip???

lol yeah i know he do it often.
.
  • #66,022
  • Jun 11, 2010 8:11am Jun 11, 2010 8:11am
interesting discussion on the gbpusd setup.
i was watching gbpcad at that time, there seem to be a fake upside breakout (no chart but... price tried to breach a downsloping trendline -- on H1/H4 if i remember correctly).
i was reluctant to trade it short because it has gone down quite a bit(for my taste). luckily, i was sort of 'on time' when gbpusd was forming bearish PA (H4 BEOB, FXPro).
i traded gbpusd instead of gbpcad.

am expecting a possibility of price revisiting 1.4350 - 1.4450 (price during June 8/9), if downside momentum continues.
if 1.4500 gives way, 1.4470/80 seem to be the next immediate trouble area.
Let's see....

demo & live trades happening in real time.... via a great discussion in a great thread
nice Friday... Have a healthy weekend all!
  • #66,023
  • Jun 11, 2010 8:20am Jun 11, 2010 8:20am
Looking at the weekly bar now. Possible bullish PB, but still has several hours left to bar close to confirm it. Weekly low at strong PPZ, also with a confluence of a bullish TL that has been respected several times as marked with circles, and the bars marked with arrows. However, a huge bullish PB (marked with hand sign) has failed terribly before even at swing low, which is why I'm posting this, to ask how anyone else sees this. The failed PB is probably due to the heavy bearish momentum from July 2008, but the recent downtrend is not as strong, although it isn't somewhat weak either. Can strong confluences beat historical patterns or even momentum?

Attached Image (click to enlarge)
Click to Enlarge Name: 0611acw.gif Size: 27 KB
  • #66,024
  • Jun 11, 2010 8:20am Jun 11, 2010 8:20am
Quoting ghous
Hey Atc,

IMHO I find the setup pretty good.

An argument can still be made up though. price in the last week or so has lost quite a bit of it's bearish steam but given that the BEOB was a good sized one and off a good res zone, I feel it was worth a shot at least to the first trouble area, which it is just about kissing as I type.

g.
Thanks Ghous----

I agree with you ....just was looking at the smaller TF why the PA bounce up occurred ...as one can see after the price respected the 4H signals and is completing it's journey down....great PA...appreciate your time...
  • #66,025
  • Jun 11, 2010 8:52am Jun 11, 2010 8:52am
Quoting ghous
Hey Atc,

IMHO I find the setup pretty good.

An argument can still be made up though. price in the last week or so has lost quite a bit of it's bearish steam but given that the BEOB was a good sized one and off a good res zone, I feel it was worth a shot at least to the first trouble area, which it is just about kissing as I type.

g.

I hate that I missed the 4H trade. I think it was a pretty good one. Here is what I am seeing in the medium-long term, though ( I just posted this over in Chris' thread as well):

Looking for PA in the blue rectangle. It would meet with a good PPZ (1.5) which is also highlighted by blue rectangle. This would occur off a very solid daily channel. I see the price getting their following the green trendline:

http://i46.tinypic.com/2hqh26e.gif
  • #66,026
  • Jun 11, 2010 8:59am Jun 11, 2010 8:59am
Quoting nasir.khan
at 1.2150,.... to the pip???

lol yeah i know he do it often.
.

Yeah, Jarroooo Is the Man.

Congratulations on that Ej analysis Nasir.

It was truly wonderful to see.

I have a great deal to learn and it is wonderful.
  • #66,027
  • Jun 11, 2010 9:07am Jun 11, 2010 9:07am
Quoting TraderDavo
I hate that I missed the 4H trade. I think it was a pretty good one. Here is what I am seeing in the medium-long term, though ( I just posted this over in Chris' thread as well):

Looking for PA in the blue rectangle. It would meet with a good PPZ (1.5) which is also highlighted by blue rectangle. This would occur off a very solid daily channel. I see the price getting their following the green trendline:

http://i46.tinypic.com/2hqh26e.gif

TD, I think the H1 trade was a better entry than the H4.
What are your thoughts on this?
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 110 KB
  • #66,028
  • Jun 11, 2010 9:12am Jun 11, 2010 9:12am
Quoting fxeturn
Looking at the weekly bar now.... Can strong confluences beat historical patterns or even momentum?
Hello fxeturn,
imho, u should lean on momentum/trend while being aware of confluences &/or historical patterns(what price did in the past). when momentum is strong/very strong, price blows past strong S/R or confluences.

the PB with a thumbs down is pretty big BUT has about 2/3 of its body 'embedded' within the previous bar. ideally, we want a PB with about 2/3 or 3/4 or majority of its body protruding away from prior bars.
the current PB, in comparison is relatively smaller than the 'thumbs down' PB.
also keep in mind, cad has been strong recently (aud is weak like eur). it is even evident in your weekly chart (see the last 6 candles).
most likely this is a pause PB. if it does beak north, it's likely that it will create a minor bounce up north. but we'll never now til next week or a week after, what PA does.

Good luck in whatever u decide to do!
  • #66,029
  • Jun 11, 2010 9:19am Jun 11, 2010 9:19am
Quoting Pinbar
TD, I think the H1 trade was a better entry than the H4.
What are your thoughts on this?

I truthfully am not really an H1 guy. It just doesn't work as well for me for whatever reason. I do like that setup, though.

I liked the sell trade (whether it be the H1 or the H4) but I am still thinking we are going to climb first. I closed my previous sell (the last 1/3 I had) after the break this morning for a slight loss. The other 2/3rds were positive, which made the whole trade positive.

I stepped back a few time frames and just don't like this breaking down for a big gain quite yet. I think the next wave gets us to 1.40, but I thing we visit 1.49-1.50 first. I will be looking for bearish PA at that level. I don't expect to get their for 2 weeks. The measurements (by my calc) say it will take 13-18 trading days to get their along this route.

EDIT:

Do watch the close of todays bar on the sterling, though. The daily is currently an Engulfing bearish. I will consider playing that on a retrace for a short term down to 1.445 or so. still think we see 1.49 before we see 1.40, though.
  • #66,030
  • Jun 11, 2010 9:22am Jun 11, 2010 9:22am
Quoting Pinbar
Oh Oh News on GBP/USD right now, impact HIGH.

Maybe this will drive it down.
THIS is what we look for. Pinbar the lights are getting bright!
  • #66,031
  • Jun 11, 2010 9:29am Jun 11, 2010 9:29am
Quoting mbqb11
THIS is what we look for. Pinbar the lights are getting bright!

Sorry Mike...I am confused by this statement...I thought the news was basically a non-issue...trade what you see....don't trade news
  • #66,032
  • Jun 11, 2010 9:29am Jun 11, 2010 9:29am
Quoting Atc
Sorry Mike...I am confused by this statement...I thought the news was basically a non-issue...trade what you see....don't trade news
Hey ATC

I am talking about his chart
  • #66,033
  • Jun 11, 2010 9:38am Jun 11, 2010 9:38am
Quoting mbqb11
Hey ATC

I am talking about his chart
Phew---thought I missed something ....in my hours of thread reading
yes the charts...almost forgot about those...LOL
  • #66,034
  • Jun 11, 2010 9:39am Jun 11, 2010 9:39am
Quoting Atc
Phew---thought I missed something ....in my hours of thread reading
yes the charts...almost forgot about those...LOL
hahah yeah, don't worry about the news I sure don't. Unless you want too of course.

Mike
  • #66,035
  • Jun 11, 2010 9:41am Jun 11, 2010 9:41am
Quoting fxeturn
Looking at the weekly bar now. Possible bullish PB, but still has several hours left to bar close to confirm it. Weekly low at strong PPZ, also with a confluence of a bullish TL that has been respected several times as marked with circles, and the bars marked with arrows. However, a huge bullish PB (marked with hand sign) has failed terribly before even at swing low, which is why I'm posting this, to ask how anyone else sees this. The failed PB is probably due to the heavy bearish momentum from July 2008, but the recent downtrend is not as strong,...
Chart.

(PA in the gray boxes shows how the PA bar "should" have looked like)
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 46 KB
I believe . . .
  • #66,036
  • Jun 11, 2010 10:03am Jun 11, 2010 10:03am
Quoting ghous
Chart.

(PA in the gray boxes shows how the PA bar "should" have looked like)
Ghous...let me start off by saying for some reason I am not good with the weeklies...my highest profitable trades have come from the 4H and the dailies( I can't figure this out)...so in effect I look at the weeklies for more direction/trend, PPZ's, confluences for the 4H and dailies that I trade. Maybe someday I will overcome this, but I am stumped.

With that said I am posting a daily of A/C to show that I am looking for a "possible" short opportunity at the 61.8, .8800 level with some confirmation with PA
Attached Image
  • #66,037
  • Jun 11, 2010 10:05am Jun 11, 2010 10:05am
Quoting Atc
Ghous...let me start off by saying for some reason I am not good with the weeklies...my highest profitable trades have come from the 4H and the dailies( I can't figure this out)...so in effect I look at the weeklies for more direction/trend, PPZ's, confluences for the 4H and dailies that I trade. Maybe someday I will overcome this, but I am stumped.

With that said I am posting a daily of A/C to show that I am looking for a "possible" short opportunity at the 61.8, .8800 level with some confirmation with PA
Of course relevant PA will show the way...it has been doing so since Pring's time (in fact since way before that).
I believe . . .
  • #66,038
  • Jun 11, 2010 10:13am Jun 11, 2010 10:13am
Quoting ghous
Of course relevant PA will show the way...it has been doing so since Pring's time (in fact since way before that).
yes----I first started with PA with trading a pelt for a sharp rock!
  • #66,039
  • Jun 11, 2010 10:35am Jun 11, 2010 10:35am
Quoting ghous
Chart.

(PA in the gray boxes shows how the PA bar "should" have looked like)
Thanks Ghous again I really like that analysis and explanation
  • #66,040
  • Jun 11, 2010 11:10am Jun 11, 2010 11:10am
Thanks to all who post and to the seniors who share their experience/knowledge and above all James for starting this thread....Have a great wknd to all
263 traders viewing now