james16 Chart Thread | Page 3315 | 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

  • #66,281
  • Jun 14, 2010 10:18am Jun 14, 2010 10:18am
mbqb11,
heheh... yes Sir, it's clear.
i guess i should've said single (instead of multiple) bar low/high break.
i think those who trade fractals, call this a fractal break.

just different names for one trade setup
Thanks!
  • #66,282
  • Jun 14, 2010 10:21am Jun 14, 2010 10:21am
Quoting mbqb11
Hey Guys,

I thought my previous post would help maybe not lol

It is simply selling a new low, if this happened to the upside you would be buying a new high. It is just a way to get into a breakout pullback that doesn't give good PA on the pullback but where your "area" still holds.

Hope this clears it up
Mike
dont worry, its clear lol. and i understood, i should have read the original post before posting !!
jon
PATIENCE... DISCIPLINE
  • #66,283
  • Jun 14, 2010 10:21am Jun 14, 2010 10:21am
Quoting six gun
Speaking of missed trades, GBP/JPY is stuffed full of pin bars.
This thread moves so fast I don't get to read all the posts but GBP/JPY is one that I have not seen mentioned much.

I do follow it as it is a favourite with another website I belong - The GBP/JPY charts are so full of pin bars.
Hi Six gun,
This is what I am seeing on the GJ pair. I am not very confident of this one.

Comments from all welcome.

Cheers
Novice198
Attached Image (click to enlarge)
Click to Enlarge Name: GJ.PNG Size: 35 KB
  • #66,284
  • Jun 14, 2010 10:30am Jun 14, 2010 10:30am
Quoting mbqb11
Hey Novice, what it means is simply selling under the new low that got created by the initial breakout. So when price pullsback that low that got created by the initial burst you can place a sell stop under that area if you get no PA. Again this is just another way to get yourself into a trade without PA in certain circumstances. I marked the area in blue with where I mean you would place your sell order.

Hope that helps
Mike
Hi Mike,
Got the funda now. Ideally, on the break of TL, we should wait for the Pullack and after the retest of the TL which will act as a Resistance/ support now, ideally we should look for a PA set up i.e PB or BEOB/BUOB. However, we can still enter the trade basis sell stop / buy stop depending upon whether we are going short / long.

Cheers
Novice 198
  • #66,285
  • Jun 14, 2010 10:33am Jun 14, 2010 10:33am
Quoting supremeChaos
to avoid analysis paralysis, try to concentrate on the concepts shared in this thread. if necessary, among those concepts, try to focus on a few.

a PPZ, imho, may be a few pips, or more than 30pips. ppzs are sometimes wider on higher timeframes, but can get tighter if u check lower timeframes.

how far back to check? hmmm... i think that depends on the trader & the timeframe/s being traded. but definitely, be aware more of the recent S/R's, PPZs, since they represent the PA/orderflow of the current time or the 'NOW'.
Hi SC,

I got my answer. I should be more concerned about the latest mkt scenario as compared to old PPZ areas..
cheers
  • #66,286
  • Jun 14, 2010 11:24am Jun 14, 2010 11:24am
Quoting supremeChaos
pinbars in what timeframe? which broker?
i had a May27 post, im not sure if that counts.
I see pin bars on all the time frames - I am not saying there is one this second. What I am saying is, having looked at this pair there are a lot of pin bars.
A lot of pin bars that have worked.
I took a pin bar on this pair last week on the 4H chart.

I am suggesting that this would be a pair to have a regular look at for PA using J16 methods.
The Dragon or the Beast or whatever you want to call the pound yen is a volatile pair so if you can pick some of its moves off with J16 methodology this has high profit potential.
  • #66,287
  • Jun 14, 2010 11:55am Jun 14, 2010 11:55am
Quoting six gun
I see pin bars on all the time frames - I am not saying there is one this second. What I am saying is, having looked at this pair there are a lot of pin bars.
A lot of pin bars that have worked.
I took a pin bar on this pair last week on the 4H chart.

I am suggesting that this would be a pair to have a regular look at for PA using J16 methods.
The Dragon or the Beast or whatever you want to call the pound yen is a volatile pair so if you can pick some of its moves off with J16 methodology this has high profit potential.
People on this thread trade everything (stocks, futures, etc.) including the GBPJPY.

The thing with the GBPJPY, among the posters here is...

- It can range widely, and your stops often have to be large.
- It often moves in sink with other JPY pairs. So you pick out the best set-up of the JPY pairs and take that one pair.

Sometimes the best pair is the GBPJPY, sometimes it is another JPY pair, so the GBPJPY is not mentioned on the thread as frequently as you might expect.
  • #66,288
  • Jun 14, 2010 12:15pm Jun 14, 2010 12:15pm
hey Bug, heres the ATR indicator you asked for

jon
Attached File(s)
File Type: mq4 # RANGE_TRADER_9.09 Labais53.mq4   20 KB | 476 downloads
PATIENCE... DISCIPLINE
  • #66,289
  • Jun 14, 2010 12:42pm Jun 14, 2010 12:42pm
Thank you, Jon!
If you don't risk, you don't ever have to lose.
  • #66,290
  • Jun 14, 2010 12:49pm Jun 14, 2010 12:49pm
Hi all

Watching to see if this bar closes above the 1.03 for a potential long towards the 1.04. Price seems to be struggling a little at the 1.03 so I'm wondering if anybody has any comments on the setup in terms of bar size, location etc.

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad_daily.gif Size: 26 KB
  • #66,291
  • Jun 14, 2010 12:56pm Jun 14, 2010 12:56pm
Quoting spyder
Hi all

Watching to see if this bar closes above the 1.03 for a potential long towards the 1.04. Price seems to be struggling a little at the 1.03 so I'm wondering if anybody has any comments on the setup in terms of bar size, location etc.

Thanks
I was looking at the same pair but from the 4hr chart where it's a BUOB. If it's valid in 5 mins time I'll wait for a slight retrace 38-50 fib on candle for a lower pip risk entry.
  • #66,292
  • Jun 14, 2010 1:06pm Jun 14, 2010 1:06pm
Quoting Dan-FX
I was looking at the same pair but from the 4hr chart where it's a BUOB. If it's valid in 5 mins time I'll wait for a slight retrace 38-50 fib on candle for a lower pip risk entry.
Thanks Dan

It's starting to push the way I wanted to see. I would have liked to do a 4H entry, but I only monitor 2 feeds and neither has the BUOB so I guess it's daily for me.

Good luck bud
  • #66,293
  • Jun 14, 2010 1:57pm Jun 14, 2010 1:57pm
Sorry all --- I'm at work and not much time to discuss but thought you might like to see these charts...I think the Rac Man might like these shorts off 61.8's - dailies...wish I had more time for this ...love this stuff
Attached Images
  • #66,294
  • Jun 14, 2010 2:54pm Jun 14, 2010 2:54pm
Anyone have any thoughts on the pb forming on EURJPY?
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 45 KB
  • #66,295
  • Edited 3:21pm Jun 14, 2010 3:07pm | Edited 3:21pm
Quoting manperm
Anyone have any thoughts on the pb forming on EURJPY?
Hey MP,

I like the location, but the bar shape still seems like it needs work. Personally, I'd wait for a better close (based on your chart).

I have an open order on the 4 Hour EUR/JPY based on a DBHLC (1 pip difference). My stop is above the bar high, but I'd be happy if the 111.83 resistance held.

Reason I took this setup was because:
+ Nice big bar rejection off a ppz
+ Nice close just below the minor price flip
+ Decent space to move (60+ pips)
+ With the long-term trend
+ Swing high

Comments welcome.

-- Danny
Attached Image
  • #66,296
  • Jun 14, 2010 3:23pm Jun 14, 2010 3:23pm
Was going to take the pin bar off the falling TL...but now we have an IB straddling the 135 area...I favour a long (as long as 10180 holds on YMMO).
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 15 KB
  • #66,297
  • Jun 14, 2010 3:39pm Jun 14, 2010 3:39pm
I appreciate your response, Blue. You make some very good points.
  • #66,298
  • Jun 14, 2010 3:41pm Jun 14, 2010 3:41pm
Evening everyone,
Short at resistance with ppz + MA + PA (smaller TF, beovb 4h) I was trying to stack as many things for this as possible for this until I could not think of reasons why not to take it.. maybe good opening in Asia or DJ bounce in the morning….
Attached Image (click to enlarge)
Click to Enlarge Name: short at resis.gif Size: 14 KB
  • #66,299
  • Jun 14, 2010 3:55pm Jun 14, 2010 3:55pm
Quoting Revstar
Evening everyone,
Short at resistance with ppz + MA + PA (smaller TF, beovb 4h) I was trying to stack as many things for this as possible for this until I could not think of reasons why not to take it.. maybe good opening in Asia or DJ bounce in the morning….
Hey Rev, great points on the confluence factors. I agree with you, except for 1 thing.

Before taking a trade I always ask myself, where is it going? This is one of James golden rules. I'm not saying you shouldn't take the trade, it could crash hard. But just thought I'd point that out as a reason not to take it.

Just my opinion.

-- Danny
Attached Image
  • #66,300
  • Jun 14, 2010 4:02pm Jun 14, 2010 4:02pm
Quoting bluetrader
Hey Rev, great points on the confluence factors. I agree with you, except for 1 thing.

Before taking a trade I always ask myself, where is it going? This is one of James golden rules. I'm not saying you shouldn't take the trade, it could crash hard. But just thought I'd point that out as a reason not to take it.

Just my opinion.

-- Danny
Yep I like this, I think we should be retesting near 8500 and the previous "box" of consolidation. A nice area for trade watching
71 traders viewing now