james16 Chart Thread | Page 3483 | 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

  • #69,641
  • Jul 25, 2010 2:33pm Jul 25, 2010 2:33pm
Quoting mbqb11
Hey Fib

No this is technically not a pin b/c it has a low lower then the previous bar low....
Thanks for the examples Mike, will see if I can pick out some live tradable examples this week coming.

About 30 pages into the thread so far...

Cheers,
Jon
  • #69,642
  • Jul 25, 2010 6:10pm Jul 25, 2010 6:10pm
Strange that our weekly AUDCHF charts are significantly different even though I also use IBFX US.

The close on my chart is 0.9425 ( yours is 0.9450) with a short wick on top. The 07/04 weekly high is 0.9273 ( yours is 0.9250)
So yeah, I don't understand how the same broker gives so much difference.............

Quoting cprao
Yes. you are right. the lows are not at the same level. they are atleast 20 pips differrence. I guess, as per the rules, only 2 pips differrence is acceptable.

Hence trading this pair is ruled out.. Thank you for the correction.

On AUDCHF, on my chart (IBFX), I like the way it is closed. it very strong close.. no wic at all on the top. But it is closed right on weekly PPZ-.9450.

The first FTA on my chart is - .9570. But it also has a possibility to retrace until 9250 (07/04 Weekly high).. [color=blue]Hence the SL should...
Attached Image (click to enlarge)
Click to Enlarge Name: auch.gif Size: 17 KB
  • #69,643
  • Jul 25, 2010 6:28pm Jul 25, 2010 6:28pm
Quoting Dan Gilbert
every trade is a win-win with money management and your own criteria!

Well said Dan.

So the News didn't matter. Or do you use the News as an added confluence? Just curious . .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #69,644
  • Jul 25, 2010 7:32pm Jul 25, 2010 7:32pm
Quoting mistersimple
EURUSD weekly not very good for bulls...?

Quoting mistersimple
euraud monthly ...
mmm august shld be bullish explosive?
Quoting mistersimple
im following
nxt week =>

enzd ^^

edit: eaud ^^

usdjpy on weekly 2 bars same low 86.33 and 86.25 on weekly chart i consider as same..
BUT didnt exceed 50% of last week's bar ..
daily hesitating on long above 87.50
Quoting mistersimple
well its my own opinion..the month is not over yet.. just preparing the ammo..
lets see what will happen

mistersimple, we appreciate your participation here but this is the James16 Chart Thread. If you could provide a chart or charts with your comments it would greatly help us understand your analysis.
Indicators show the past. Price Action "Indicates" the future.
  • #69,645
  • Jul 25, 2010 7:36pm Jul 25, 2010 7:36pm
Quoting ertorque
Generally there are quite some traffic in all 3 pairs.

You already said it yourself abt NZCH hardly broke the weekly PPZ of 0.7650, so this is a pass for me.
GBCH's FTA seems a tad too close to the would-be-entry price rendering the trade not attractive in terms of R:R ratio. For example on my feed the GBPCHF has a weekly PPZ of around 1.626ish and compare to Friday's close of 1.6246, I would rather skip this too.
IMO, the best bet would be the AUDCHF where price is most likely to go to BRN 1.95 which I think is the FTA. There are abt 50pips distance...
I just opened a demo with IBFX. I'm not too familiar with MT4 platform. How do you draw those blue lines that don't extend across the chart? And thos boxes around PPZs?
  • #69,646
  • Jul 25, 2010 7:49pm Jul 25, 2010 7:49pm
spookie94,
those are rectangles.
something related here.

if u are not familiar with MT4, then the solution is to get familiarized with it.
u dont have to worry as MT4 is user-friendly.
  • #69,647
  • Edited 7:58pm Jul 25, 2010 7:50pm | Edited 7:58pm
Quoting spookie94
I just opened a demo with IBFX. I'm not too familiar with MT4 platform. How do you draw those blue lines that don't extend across the chart? And thos boxes around PPZs?

Hey Spookie,

at the top of the platform click insert-shapes-rectangle, Then click on the chart and hold the mouse button down and drag it. To remove one, double click on a
corner then left click and delete.
  • #69,648
  • Jul 25, 2010 8:09pm Jul 25, 2010 8:09pm
Quoting mbqb11
Hey Spookie,

For me it depends on what the look is around it. IMO the reason this worked so well was the predominant trend was down and there was some buying coming in at that level and being it was friday everyone wanted out and we got a cascade effect. The important thing is not that you CANT trade those bars as I said, but you need to take note of the areas we discussed and THEN make your decisions(whatever they may be , they will vary trader to trader). Someone like Jarroo likes to take 1/2 off or so at those trouble areas. Move his stop to...
This setup was an obvious pass trade. Too small, running into the 1.6000, traffic, etc, as you mentioned, Mike.. Applying the free trade to this setup would have been tight and I would have pass on that as well. lol

Those 1st bar lows in green that you mentioned Mike would have been the free trade target. You would have had to catch every inch of that first move to make it work. I would probabaly caught the first 20 pips and would have resulted in a net zero loss. . .but catching 25 pips would have worked (8 pip buffer).

I usually apply the free trade to a setup that's close to an A quality setup in terms of location and size of the formation. There's usually a fine line between free trade or pass. This one did not meet that fine line. An easy pass trade that ran to the moon . .they will happen.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchfdaily.gif Size: 29 KB
Click to Enlarge Name: gbpchfdailyhourly.gif Size: 27 KB
Indicators show the past. Price Action "Indicates" the future.
  • #69,649
  • Jul 25, 2010 8:11pm Jul 25, 2010 8:11pm
How does this PB look? 2 days ago.



I read that one of the seniors (can't remember who) does'nt keep a trade open if it doesn't break the next day.
Attached Image
  • #69,650
  • Jul 25, 2010 8:14pm Jul 25, 2010 8:14pm
Quoting spookie94
How does this PB look? 2 days ago.



I read that one of the seniors (can't remember who) does'nt keep a trade open if it doesn't break the next day.

That would be Mike. He like to see the next bar break the setup. . .Think Momentum. The next bar break not only confirms its current momentum but also validates the setup.
Indicators show the past. Price Action "Indicates" the future.
  • #69,651
  • Jul 25, 2010 8:18pm Jul 25, 2010 8:18pm
Quoting jarroo
This setup was an obvious pass trade. Too small, running into the 1.6000, traffic, etc, as you mentioned, Mike.. Applying the free trade to this setup would have been tight and I would have pass on that as well. lol

Those 1st bar lows in green that you mentioned Mike would have been the free trade target. You would have had to catch every inch of that first move to make it work. I would probabaly caught the first 20 pips and would have resulted in a net zero loss. . .but catching 25 pips would have worked (8 pip buffer).

I usually apply the...
Jim

Do you usually drop down to a lower time frame to help find S&R areas?
  • #69,652
  • Jul 25, 2010 8:19pm Jul 25, 2010 8:19pm
Quoting tubguy
Hey Spookie,

at the top of the platform click insert-shapes-rectangle, Then click on the chart and hold the mouse button down and drag it. To remove one, double click on a
corner then left click and delete.
Thanks tubguy i'll give it a go.
  • #69,653
  • Jul 25, 2010 8:20pm Jul 25, 2010 8:20pm
Quoting jarroo
That would be Mike. He like to see the next bar break the setup. . .Think Momentum. The next bar break not only confirms its current momentum but also validates the setup.
Yes makes sense, thanks.
  • #69,654
  • Jul 25, 2010 8:25pm Jul 25, 2010 8:25pm
Quoting spookie94
Thanks tubguy i'll give it a go.

Great! Now the next chart you post must have a pretty blue rectangle on it.

LOL.
  • #69,655
  • Edited 8:57pm Jul 25, 2010 8:28pm | Edited 8:57pm
Quoting spookie94
Jim

Do you usually drop down to a lower time frame to help find S&R areas?
I usually drop down to lower time frame to see how Price behaves around the higher time frame S/R. Meaning if the setup was on the Daily, I will mark my target(s) on the Daily and see how Price behaves around these areas on the Hourly. I will ignore minor Hourly S/R.
Indicators show the past. Price Action "Indicates" the future.
  • #69,656
  • Jul 25, 2010 8:51pm Jul 25, 2010 8:51pm
1.6200 could be interesting.

You like my pretty rectangle Tubguy?
Attached Image
  • #69,657
  • Jul 25, 2010 9:15pm Jul 25, 2010 9:15pm
Attached Image (click to enlarge)
Click to Enlarge Name: eg072610week.gif Size: 15 KB
  • #69,658
  • Jul 25, 2010 9:16pm Jul 25, 2010 9:16pm
Weekly BUOB Eur/Cad

Price breaking Resistance now turning into Support. Like to see some nice Bullish PA on the Daily PPZ level, 1.3350.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad weekly.gif Size: 20 KB
Indicators show the past. Price Action "Indicates" the future.
  • #69,659
  • Jul 25, 2010 9:30pm Jul 25, 2010 9:30pm
Quoting supremeChaos
something similar has been asked (& answered) just 5 days ago.

i mean no disrespect Jey... but just gonna use your post as a 'jumping board'.
justwanna say it's unhealthy to ask redundant questions (based simply on the volume of this thread, it's highly likely that question has been answered already, right?). it's unhealthy for the person asking & this thread.
it's unhealthy for the person asking because it sort of propagates dependence. i firmly believe we...

Great post sChoas.
Indicators show the past. Price Action "Indicates" the future.
  • #69,660
  • Jul 25, 2010 10:05pm Jul 25, 2010 10:05pm
Quoting spookie94
1.6200 could be interesting.

You like my pretty rectangle Tubguy?
lovin it! How cool is that!
27 traders viewing now