james16 Chart Thread | Page 3607 | 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

  • #72,121
  • Aug 18, 2010 8:28pm Aug 18, 2010 8:28pm
Quoting cprao
You will find a Mike's Video on traffic in this post.
http://www.forexfactory.com/showpost...ostcount=64143
Mike and Cprao,
Thank you so so much!!! I got it added to my height in just about ten minutes!!! Thank you!!!
  • #72,122
  • Aug 18, 2010 8:32pm Aug 18, 2010 8:32pm
Quoting The Lord
Attachment

Somebody please show me my mistake with this. I took this yesterday right off the BRN, a nice support and a good length pinbar. I couldn't move to break even since it was too early (not much pips). I am really not finding any mistake to learn from. I must figure out my mistake or I will repeat it next time.
Sometimes it helps to verify your broker chart with a different chart feed(source) You might not be seeing what everyone else is seeing. Also I would have moved the trade to break even. Just my 2 cents.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 18 KB
  • #72,123
  • Aug 18, 2010 8:32pm Aug 18, 2010 8:32pm
Quoting The Lord
Attachment

Somebody please show me my mistake with this. I took this yesterday right off the BRN, a nice support and a good length pinbar. I couldn't move to break even since it was too early (not much pips). I am really not finding any mistake to learn from. I must figure out my mistake or I will repeat it next time.
Taking a trade so close to a swing high is always going to lack space (this is precisely why trades down at the 50/61.8 fib rock). This one still went on to hit the FTA. A BE (or better still a pass) was on if you ask me.

g.
Attached Image (click to enlarge)
Click to Enlarge Name: au 4h.gif Size: 33 KB
I believe . . .
  • #72,124
  • Aug 18, 2010 8:38pm Aug 18, 2010 8:38pm
Quoting The Lord
Attachment

Somebody please show me my mistake with this. I took this yesterday right off the BRN, a nice support and a good length pinbar. I couldn't move to break even since it was too early (not much pips). I am really not finding any mistake to learn from. I must figure out my mistake or I will repeat it next time.
I wouldn't say it is a mistake. Based on your chart, I would also think that it is a decent setup for long. Good setups can and will fail for it's all a game about probability. Well just my view..............

CY
  • #72,125
  • Aug 18, 2010 8:39pm Aug 18, 2010 8:39pm
Quoting The Lord
Attachment

Somebody please show me my mistake with this. I took this yesterday right off the BRN, a nice support and a good length pinbar. I couldn't move to break even since it was too early (not much pips). I am really not finding any mistake to learn from. I must figure out my mistake or I will repeat it next time.

I posted asking if you managed to get out of it before it came back on, obviously you missed the post.

Look at the daily PPZ
Attached Image(s) (click to enlarge)
Click to Enlarge Name: h4.gif Size: 29 KB
Click to Enlarge Name: pic.gif Size: 267 KB
  • #72,126
  • Aug 18, 2010 8:41pm Aug 18, 2010 8:41pm
Quoting The Lord
Somebody please show me my mistake with this.
Easy.

Quoting The Lord
I couldn't move to break even since it was too early (not much pips).
When you have to shoot, shoot. Dont talk.
  • #72,127
  • Aug 18, 2010 8:43pm Aug 18, 2010 8:43pm
Quoting joelcf
Easy.
Couldn't have been said better.
I believe . . .
  • #72,128
  • Aug 18, 2010 8:49pm Aug 18, 2010 8:49pm
Should make it at least to 8900 and then to 8865...
Attached Image (click to enlarge)
Click to Enlarge Name: aususd-2d-18-aug.gif Size: 28 KB
  • #72,129
  • Aug 18, 2010 9:02pm Aug 18, 2010 9:02pm
Quoting ghous
Taking a trade so close to a swing high is always going to lack space (this is precisely why trades down at the 50/61.8 fib rock). This one still went on to hit the FTA. A BE (or better still a pass) was on if you ask me.

g.
Thanks ghous. I can see it still hit the FTA. There was so much less pips to really go for. That should have been passed.
  • #72,130
  • Aug 18, 2010 9:03pm Aug 18, 2010 9:03pm
Quoting Consilium
Sometimes it helps to verify your broker chart with a different chart feed(source) You might not be seeing what everyone else is seeing. Also I would have moved the trade to break even. Just my 2 cents.
I think your chart is also okay with the setup. That's a two bar pinbar. Failing to move to breakeven was a real mistake.
  • #72,131
  • Aug 18, 2010 9:05pm Aug 18, 2010 9:05pm
Quoting Pinbar
I posted asking if you managed to get out of it before it came back on, obviously you missed the post.

Look at the daily PPZ
Ya, I certainly missed the post. Thanks.
  • #72,132
  • Aug 18, 2010 9:06pm Aug 18, 2010 9:06pm
Quoting joelcf
Easy.
Yes, a nice reply. Sometimes the answers are within the questions.
  • #72,133
  • Aug 18, 2010 9:08pm Aug 18, 2010 9:08pm
3 daily candles and all doji and closed within each other. inside bars.

location is confusing. not at swing high or low.
how should we play this ? breakout of outer most range or inner most range ? or wait for a false breakout and go in opposite direction ? look for divergence on macd ?
Attached Image (click to enlarge)
Click to Enlarge Name: cj.gif Size: 13 KB
  • #72,134
  • Aug 18, 2010 9:08pm Aug 18, 2010 9:08pm
Quoting ertorque
I wouldn't say it is a mistake. Based on your chart, I would also think that it is a decent setup for long. Good setups can and will fail for it's all a game about probability. Well just my view..............

CY
A game of probability for sure. Losses may happen. Anyway, only one loss so far this month. Still happy.
  • #72,135
  • Aug 18, 2010 9:13pm Aug 18, 2010 9:13pm
Quoting The Lord
A game of probability for sure. Losses may happen. Anyway, only one loss so far this month. Still happy.
Good for you Lord...

We can't get them all, or there would be no market to trade.

May, I ask which TF you are checking the PPZ on, I only saw that one PPZ drawn on the H4?
  • #72,136
  • Aug 18, 2010 9:20pm Aug 18, 2010 9:20pm
Quoting Pinbar
PIPO
Give the indicator I modified a try.

You don't need lines all over the chart, it confuses us when we also draw PPZ.

Hey PB, from the picture you posted, it looks like a sweet indi, but when I apply it nothing happens, I tried changing some colors but nothing happens, please see if you can resend it. Thanks.
  • #72,137
  • Aug 18, 2010 9:26pm Aug 18, 2010 9:26pm
Quoting Pinbar
Good for you Lord...

We can't get them all, or there would be no market to trade.

May, I ask which TF you are checking the PPZ on, I only saw that one PPZ drawn on the H4?
I only draw lines on the timeframe that I trade. That PPZ is purely of H4.
  • #72,138
  • Aug 18, 2010 9:28pm Aug 18, 2010 9:28pm
Quoting Pipologist99
Hey PB, from the picture you posted, it looks like a sweet indi, but when I apply it nothing happens, I tried changing some colors but nothing happens, please see if you can resend it. Thanks.

You put it into the experts/ indicators folder, and closed down and restarted MT4, right?


You may have to change the SHIFT LINE length from 50 to something lower and try zooming out till you get it set how you want it.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 83 KB
  • #72,139
  • Aug 18, 2010 9:30pm Aug 18, 2010 9:30pm
Quoting The Lord
I only draw lines on the timeframe that I trade. That PPZ is purely of H4.

Well, I think that is your problem....the FTA needs to be drawn on higher TF.

Jarroo, is using the weekly candles for FTA even on H4, and notice how price bounced off the daily FTA I drew on the daily chart.
  • #72,140
  • Aug 18, 2010 9:47pm Aug 18, 2010 9:47pm
Quoting The Lord
Thanks ghous. I can see it still hit the FTA. There was so much less pips to really go for. That should have been passed.
This is a good lesson in ALWAYS assessing your Risk:Reward ratio before u take a trade. If your rewards is not at the very least 2 times your risk you are going to hurt yourself in the long run.
85 traders viewing now