james16 Chart Thread | Page 3331 | 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

  • #66,601
  • Jun 17, 2010 2:45pm Jun 17, 2010 2:45pm
I took the AUD/NZD pinbar from yesterday and just set my stops to break even. Looking at the pattern further I seem to be considering this as a bear flag formation with further downside to come. Any thoughts on this?

Thanks.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD 17-06-2010 Pinbar - Bear Flag.png Size: 40 KB
  • #66,602
  • Jun 17, 2010 3:01pm Jun 17, 2010 3:01pm
Quoting fxdrive
... Perhaps there was an issue with pb size and location - maybe a senior trader can comment?
Thanks PinBar and fx for the feedback.

The last thing I will do is change my rules after a loss. I'm still feeling out my strategy and finding out the best balance between quick to BE, Free Trade, or hold on. It largely depends on the current market conditions and personal affinity to getting stopped out of a trade.

Probably the biggest lesson for me (again) is letting a winner turn into a loser.
Personally, this hurts more than missing out on a runner.

-- Danny
  • #66,603
  • Jun 17, 2010 3:35pm Jun 17, 2010 3:35pm
Quoting look_anno
hi

I would like to show You my last trade GBPNZD daily,

Thanks for your help, that's really very helpful Thread.
well done anno. Most people would get crushed with a bar like that

Mike
  • #66,604
  • Jun 17, 2010 3:38pm Jun 17, 2010 3:38pm
Quoting datogio
They didn't fail, they never formed my friend, non of them was broken. The lesson from this is to not take the PA setup before the break.

4H pin is still valid but is very small compared to the previous bars, it might be formed because of the noise and is risky IMO.
and to add to this, zoom out your charts Vasco. Look how very very tiny the bars are vs the previous few bars. It is in my strong opinion that bars of this size be completely ignored.
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 15 KB
  • #66,605
  • Jun 17, 2010 3:45pm Jun 17, 2010 3:45pm
Quoting lolbin7
Hi guys, is this a BUOB forming on the EURUSD daily chart?
I've also pulled a fibonnacci line but i'm not sure if I've done it right.. please do correct thanks.
Hey lolbin

Yes you are correct that is a BUOB but I must clarify a few things here.

Firstly the BUOB is at a swing high. We want to find these at swing LOWS, when we are starting out. They can be played as continuations but we should look to add that later on in our trading. For now stick to looking for BUOBs at swing lows.

Secondly, you have your fib drawn correctly but that fib would be used to look for shorts. Since the fib was used for a down/bearish move, you draw it and each number represents the % retracement of that whole entire down move. So you would want to find a BEOB up at that 61.8 if using the FIB tool as part of your confluence.

Let us know if you need some clarification on that

Mike
  • #66,606
  • Jun 17, 2010 3:58pm Jun 17, 2010 3:58pm
Hi!

Quoting datogio
They didn't fail, they never formed my friend, non of them was broken. The lesson from this is to not take the PA setup before the break.

4H pin is still valid but is very small compared to the previous bars, it might be formed because of the noise and is risky IMO.
Sorry to ask, what do you mean with none of them was broken? Do you only play pins bars that as been broken?

I make a quick reread on something that i have printed, and one option is to enter the trade earlier, i assumed that is a bad option for a beginner :-(

Regards
  • #66,607
  • Jun 17, 2010 4:00pm Jun 17, 2010 4:00pm
Quoting vasco25
Hi!



Sorry to ask, what do you mean with none of them was broken? Do you only play pins bars that as been broken?

I make a quick reread on something that i have printed, and one option is to enter the trade earlier, i assumed that is a bad option for a beginner :-(

Regards
Hey V

Technically speaking a bar is not validated until the high(for a bullish bar) or low(for a bearish bar), breaks. This means that if you enter on a retracement or on the close you are running the risk of getting into a bar that never breaks, like the above cases. I would recommend waiting for a break until you have a more firm grasp on things and then decide if you want to look into some of the other entry techniques.

Best
Mike
  • #66,608
  • Jun 17, 2010 5:11pm Jun 17, 2010 5:11pm
Quoting unlv_tj
GREAT question.

Honestly, my dream was to always move to either Brazil or Germany (depending upon money and language skills).

Well, I am horrible at languages, so I am probably stuck in either an English speaking country, or a country where you can get by any where with English (so Germany is probably okay).

I turn 32 in 12 days, and I hate where I live, I hate my job, and I hate my life....
Amen! brother. I turned 40 in May and been 11 years single. To busy raising two boys to have to deal with women troubles. Although I have met a couple that were very sweet. So I guess they're not all bad. Just seems hard to find the good ones.
  • #66,609
  • Jun 17, 2010 5:39pm Jun 17, 2010 5:39pm
Quoting Pinbar
Happy 5th James16 and I must say, the seniors on this site are the most friendly and unselfish, non egotistic people I have ever had cause to stumble over.

They must indeed make you a Very Proud individual and no doubt you are partly to blame for this! LoL

Except that Jarroo chap....He promised us all some Hookers, which have yet to arrive. LOL

Only Joking Jarroo.........I fully appreciate all the kind help despite the lack of Hookers.



Being in Asia this is the best I can do for beer....I shall drink many more of these tonight in celebration...

lol
Indicators show the past. Price Action "Indicates" the future.
  • #66,610
  • Jun 17, 2010 5:41pm Jun 17, 2010 5:41pm
Happy birthday old friend and thank you to all that have given of themselves to make this a fun and happy place.

Words cant describe how much the friendships i have made here mean to me.

Merlin wherever you are i love you brother.

Jim
  • #66,611
  • Jun 17, 2010 5:42pm Jun 17, 2010 5:42pm
Happy Anniversary to the birth of this great thread.



God bless you James16
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #66,612
  • Jun 17, 2010 5:45pm Jun 17, 2010 5:45pm
You stand very close to the top of this mountain jim.

I appreciate you sir.

Jim

Quoting jarroo
happy anniversary to the birth of this great thread.

  • #66,613
  • Jun 17, 2010 5:47pm Jun 17, 2010 5:47pm
Quoting james16
You stand very close to the top of this mountain jim.

I appreciate you sir.

Jim
My eyes well up as I crack my first beer.
Indicators show the past. Price Action "Indicates" the future.
  • #66,614
  • Jun 17, 2010 6:09pm Jun 17, 2010 6:09pm
Quoting jarroo
My eyes well up as I crack my first beer.

Is that the Jalapeno Onion beer? LOL
  • #66,615
  • Jun 17, 2010 6:11pm Jun 17, 2010 6:11pm
Quoting Pinbar
Is that the Jalapeno Onion beer? LOL
lol Nope . . just a good old Budweiser.
Indicators show the past. Price Action "Indicates" the future.
  • #66,616
  • Jun 17, 2010 6:16pm Jun 17, 2010 6:16pm
Quoting jarroo
lol Nope . . just a good old Budweiser.
I hear there are some rather good micro breweries in the US, ever tried any of them Jarroo?
  • #66,617
  • Jun 17, 2010 6:21pm Jun 17, 2010 6:21pm
Quoting Pinbar
I hear there are some rather good micro breweries in the US, ever tried any of them Jarroo?

Oh yeah, they were the craze a few years back. Tried a lot of them at the time.
Indicators show the past. Price Action "Indicates" the future.
  • #66,618
  • Jun 17, 2010 6:23pm Jun 17, 2010 6:23pm
Quoting fxeturn
Aren't you in Tokyo Pinbar? I thought Japanese girls are lovely and friendly? I'd like to visit there some time. Are you working or studying there? Are you Japanese??

No, I am not Japanese...Yes, the girls are sweet until you marry them.

I am semi retired here, it seems. Been here too long, it has lost its magic, maybe time for another country.
  • #66,619
  • Jun 17, 2010 6:30pm Jun 17, 2010 6:30pm
Interesting area on the Aus/Usd. .8700 level. Support turning into Resistance? Maybe some good bearish PA looks good, like a long wick moving up through and rejecting this level forming a bearish PB. Or Big BEOB bar up and through this level.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud.gif Size: 21 KB
Click to Enlarge Name: aud daily.gif Size: 28 KB
Indicators show the past. Price Action "Indicates" the future.
  • #66,620
  • Jun 17, 2010 6:45pm Jun 17, 2010 6:45pm
Quoting jarroo
Interesting area on the Aus/Usd. .8700 level. Support turning into Resistance? Maybe some good bearish PA looks good, like a long wick moving up through and rejecting this level forming a bearish PB. Or Big BEOB bar up and through this level.

Same thing here with the Gbp/Usd. The thing is (as with the Aud/Usd). . . maybe Support is turning back into Support. This is where PA will shows us the way or at least give us a hint.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: guweek.gif Size: 22 KB
Click to Enlarge Name: gudaily.gif Size: 22 KB
Indicators show the past. Price Action "Indicates" the future.
48 traders viewing now