james16 Chart Thread | Page 3699 | 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

  • #73,961
  • Sep 4, 2010 2:50pm Sep 4, 2010 2:50pm
csco has a meeting up north in the congestion area between 22.50 and 24 usd.
divergence, 50%fib, brn 20 usd.
Attached Image (click to enlarge)
Click to Enlarge Name: csco.png Size: 17 KB
meine augen sind die sterne
  • #73,962
  • Sep 4, 2010 2:57pm Sep 4, 2010 2:57pm
aserbfx I've been paying some attention to your posts lately and you've been picking very interesting trades. Do you take all of the trades you post here or how do you filter your potential trades?
  • #73,963
  • Sep 4, 2010 3:12pm Sep 4, 2010 3:12pm
Quoting mihazupan1
aserbfx I've been paying some attention to your posts lately and you've been picking very interesting trades. Do you take all of the trades you post here or how do you filter your potential trades?
i take some of them. but not all.
there are a lot of buob on the weekly stock-charts. why? because the s&p made a buob, too. and most stocks are highly correlated with it, of course.
so i try to pick trades which show divergence with it to create trades which are not 100% correlated. because otherwise if the s&p will go down, then all this trades are likely to fail.
csco looks good, for example. not a buob, but a pin with all what we are looking for.
i am posting this charts for discussion. i appreciate every comment.
traders helping traders!
meine augen sind die sterne
  • #73,964
  • Sep 4, 2010 4:24pm Sep 4, 2010 4:24pm
Quoting aserbfx
csco has a meeting up north in the congestion area between 22.50 and 24 usd.
divergence, 50%fib, brn 20 usd.
I also had csco on my list. Skipped it only because it had less confluence than the one I chosen and that 3 bar tight consolidation on which th PB has closed. But I do not consider Div as you do, so maybe with Div the setup would be more potent. Still that previous wide range beob is kinda scary...

Aser, have you managed to automate your search process? How did you know there was a PB on Csco weekly?
  • #73,965
  • Sep 4, 2010 4:54pm Sep 4, 2010 4:54pm
Quoting Adilius07
...

Aser, have you managed to automate your search process? How did you know there was a PB on Csco weekly?
no, unfortunately not. checking everything manually. still searching for a weekly-stock scanner. hey maybe a market niche ...
meine augen sind die sterne
  • #73,966
  • Sep 4, 2010 4:59pm Sep 4, 2010 4:59pm
Quoting aserbfx
no, unfortunately not. checking everything manually. still searching for a weekly-stock scanner. hey maybe a market niche ...
Me too. If you take this niche and make such a scanner I would buy it if there was such a scanner covering U.S and European markets.... Can you imagine how rich we could be? LOL
  • #73,967
  • Sep 4, 2010 4:59pm Sep 4, 2010 4:59pm
Quoting bug
Update on the 10 year. Price went down the first two days but has been heading up since (25 seems to be a support level). Following what Jarroo teaches here, last week's BUOB was followed by a retracement to prior bar highs (see this week's first red bar, ie counting from the right, the 5th bar). So, recapping: risk appetite seems to be on the way up at least short term.

Funny how price 'predicted' the good economic news (good economic news drives the yield up). Will update next week.
this is the bund future. with a beob on the weekly. brn. divergence.
Attached Image (click to enlarge)
Click to Enlarge Name: fgbl3.gif Size: 15 KB
meine augen sind die sterne
  • #73,968
  • Sep 4, 2010 5:04pm Sep 4, 2010 5:04pm
Quoting Adilius07
Me too. If you take this niche and make such a scanner I would buy it if there was such a scanner covering U.S and European markets.... Can you imagine how rich we could be? LOL
maybe yes, maybe no. certainly no. from vsa-perspective this will be a no-demand scenario. most traders looking for the fast profit. just check forexfactory with its billions M1- and M5-strategies. they all think that the lower they get on tf the more they make...
well , it took me years to see how wrong this is.
meine augen sind die sterne
  • #73,969
  • Sep 4, 2010 5:14pm Sep 4, 2010 5:14pm
I finally took the time this past week to setup 4hr charts on 4 different brokers. It's still early, but I believe I have found an answer to "Getting bored" while waiting on the 4 hrs to close. Now I have a set of candles closing every hour and by the time I review one set of charts, I have another closing.

It amazing how something so easily overlooked can possibly make such a difference in trading. We'll see how the next few weeks go....

Thanks Mike for reiterating this several times....

(Alpari, FXCM, IBFX, FXPro)
  • #73,970
  • Sep 4, 2010 5:15pm Sep 4, 2010 5:15pm
Quoting aserbfx
maybe yes, maybe no. certainly no. from vsa-perspective this will be a no-demand scenario. most traders looking for the fast profit. just check forexfactory with its billions M1- and M5-strategies. they all think that the lower they get on tf the more they make...
well , it took me years to see how wrong this is.
lol, yes you are right 100% here. I used to enter on 2 min (because timing is crucial) and then switched to daily TF to see how far I can hold. Lol, I ashamed of myself just to think of my way I used to trade! And that was live account...
  • #73,971
  • Sep 4, 2010 5:36pm Sep 4, 2010 5:36pm
Quote
Aser, have you managed to automate your search process? How did you know there was a PB on Csco weekly?no, unfortunately not. checking everything manually. still searching for a weekly-stock scanner. hey maybe a market niche

Let me try be useful for once.

There's a software I am using right now called Trade Navigator (you can get a demo).

It has like 3 billion options including filters to find particular bars across multiple securities. You can define the list of securities and pick between some default PA bars patterns or define your own ones.
It has a limit most traders in this thread won't see as unacceptable: it only scans on daily new data.


Edit: thank you Cornholio! You posted exactly what people lost like me were trying to get. Searching in about 5000 pages is just too huge for newcomers expecially when they need pinpointed details by category.
  • #73,972
  • Sep 4, 2010 5:45pm Sep 4, 2010 5:45pm
Quoting Adilius07
Me too. If you take this niche and make such a scanner I would buy it if there was such a scanner covering U.S and European markets.... Can you imagine how rich we could be? LOL
Um...as far as I know stockcharts.com has a pretty good screener (only US and Canadian securities, though). You can customize it any way you like. It is able to recognize all of the most popular candlesticks including hammers, dojis and engulfing bars. Here is a preview of what they are offering: http://stockcharts.com/def/servlet/SC.scan
If you want to customize it or scan weekly charts then I'm afraid you'd have to pay them, but you already said you were willing to pay..
Actually I think they have a free 7 day trial period. Check it out.
If you don't risk, you don't ever have to lose.
  • #73,973
  • Sep 4, 2010 5:48pm Sep 4, 2010 5:48pm
Quoting dfumagalli
Edit: thank you Cornholio! You posted exactly what people lost like me were trying to get. Searching in about 5000 pages is just too huge for newcomers expecially when they need pinpointed details by category.
My pleasure. If you are looking for more, then may I direct you to Jduester's excellent summary (110 links, 2 pdfs, 1 word doc)? Jduester's link list was actually what got me introduced to this thread (James has a link to it in the first post, I think). Anyway, here it is: http://www.forexfactory.com/showpost...ostcount=23250
If you don't risk, you don't ever have to lose.
  • #73,974
  • Sep 4, 2010 5:52pm Sep 4, 2010 5:52pm
Quoting bug
Um...as far as I know stockcharts.com has a pretty good screener (only US and Canadian securities, though). You can customize it any way you like. It is able to recognize all of the most popular candlesticks including hammers, dojis and engulfing bars. Here is a preview of what they are offering: http://stockcharts.com/def/servlet/SC.scan
If you want to customize it or scan weekly charts then I'm afraid you'd have to pay them, but you already said you were willing to pay..
Actually I think they have a free 7 day trial period. Check...
Thanks Bug, yes I know that to customize i have to be a member. But still I think they would not offer weekly screener though, never saw them advertise something like this (use them daily for 3 years). Just googling "weekly screener or scanner" gives no clue... So maybe they really just don't exist.....
  • #73,975
  • Sep 4, 2010 5:56pm Sep 4, 2010 5:56pm
Quoting Adilius07
Thanks Bug, yes I know that to customize i have to be a member. But still I think they would not offer weekly screener though, never saw them advertise something like this (use them daily for 3 years). Just googling "weekly screener or scanner" gives no clue... So maybe they really just don't exist.....
Well..um...have you tried mailing StockCharts and asking them about it?
If you don't risk, you don't ever have to lose.
  • #73,976
  • Sep 4, 2010 5:58pm Sep 4, 2010 5:58pm
Quoting bug
Well..um...have you tried mailing StockCharts and asking them about it?
Lol, not yet I learned that weekly is better for me than 1 minute just a month ago
  • #73,977
  • Sep 4, 2010 6:15pm Sep 4, 2010 6:15pm
Quoting mihazupan1
Could anyone please help me with some formulas in Excel? I'm putting together a journal in excel and have some problems with formulas (I don't know which how to apply my idea to Excel). I have attached the journal I've made so far.
[list=1][*]Is it possible to calculate P/L (Pips) automatically if I close my positions at first exit point? Should I leave Exit 2 cells empty, enter...
I think, I could able to get what you need for 1 & 2.

1) On column "p", if the value is minus, you would see that in red and if positive, you will see green. Otherwise, you will see yellow.

2) I added a formula, to the column "O", to calcualte pip P/L, based on
1) Long or short
2) one exit or 2 exits.
To do this, I have added a drop down in the column "E". so you can only choose "L" or "S".

3) I didn't quite get your requirement here

4) I am not sure what you want to hide here, if you just want to hide, you can simply hide the column by right clicking on the column.. select hide.
Attached File(s)
File Type: xls My Journal.xls   25 KB | 589 downloads
  • #73,978
  • Sep 4, 2010 6:40pm Sep 4, 2010 6:40pm
Quoting Adilius07
Yes ETF's are like stocks. Some are "cheap" but when you begin to compare you will see that it will not worth entering a trade with small size, since you will need to have a substancial move just to cover your commision. But for longer term could be just fine.

I never traded ETF's themselves, always through options. And yeah options are dangerous, but I see that most of my trades will be closed in less than 1-2 months. (on weekly chart) so the time value is not such a huge worry.

For example my next trade will be VFC (stock) and I will buy...
Thank you Ad.

I still have account with tradeking.com (not using actively) for stocks and options. Their fee is very reasonable. I have not used their system for anyalysis except for simply buying and selling.

I still don't have a method to buy options based on the stock prices/charts. Like in the above chart, the price might go upto 80.00 + or may be 85 + if the momentum continues in the next 1 to 3 months. Buying Feb 2011 call is good since you have time value in your favour, at least for 3 months.
But what call - 80, 85,75 and what price ? How do we know the price is associated to that call is in sync with the underlying instrument.
I never got this answer..
  • #73,979
  • Sep 4, 2010 6:57pm Sep 4, 2010 6:57pm
Quoting ekling
I think this is the indicator you are talking about
Thanks ekling, exactly what I was looking for !
Be like water.
  • #73,980
  • Sep 4, 2010 7:37pm Sep 4, 2010 7:37pm
Quoting Jey
ghoust, do you play DIBS?
How do ya handle false breaks?
1) moving stops/reducing risk quickly.

2) not placing orders on to the trafficky side (with more traffic, less space and hence more areas that could hold price up) of the IB (if any) even if that end breaks.

3) Going with the over all flow.

Chart: example of the 3rd point. Where was price going after the IB formed? Was it blowing past that swing high (Wasn't price steaming in from way far off? Didn't it need some kind of a pause to regain it's breath?) or was it going to pull back at least to the 1.9 BRN? Do you see that we actually did break the high of the IB, and a buy order there would have hurt you. Understanding the flow is in my opinion is as important as a trigger bar is in analyzing a trade setup.

g.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 23 KB
I believe . . .
26 traders viewing now