james16 Chart Thread | Page 3798 | 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

  • #75,941
  • Sep 29, 2010 4:08am Sep 29, 2010 4:08am
Hey guys,

while browsing longer timeframes, I found very nice situation on EURGBP. If you look at 4hr you see we are on the significant PPZ @ 0.8600. Not only its very close scenario, which Jim did on EURUSD lately, but in case of break there is clear way up to 0.8860 or above. At this point we have outside bar shadowing last 3 bars and touching PPZ. I think it would be wise to watch break above (close) this lvl and maybe wait for pullack to get in. What do you think about this?

Happy trading.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp_4h.gif Size: 25 KB
  • #75,942
  • Sep 29, 2010 4:19am Sep 29, 2010 4:19am
Quoting ddinnov
Morning all!

I just joined the PF!
Evening, here in Japan.

I see you on the PF....Good Job.

Now, you have access to over 100 videos and various systems.


Good for you DD.
  • #75,943
  • Sep 29, 2010 4:29am Sep 29, 2010 4:29am
Quoting jarroo
Its all about the story and putting the pieces together.

Each added position on this Aud/Cad run has a different independent story.

Thanks Mike.
To infinite yield and beyond!
(and where the heck might tt be?)

I relate much to what you're doing Jim
One Mind, Any Market
  • #75,944
  • Sep 29, 2010 5:15am Sep 29, 2010 5:15am
Just a quick check in to say to all my J16 bro's....I hope everyone is well
  • #75,945
  • Sep 29, 2010 5:22am Sep 29, 2010 5:22am
If anyone use IT pinbar/engulfing method on low TF (15m, 3m, H1, H4), I will be happy to share and exchange knowledge !

Anyone interested ?
Please MP me ASAP. Thx for this thread : excellent for learning PA in general !
  • #75,946
  • Sep 29, 2010 5:33am Sep 29, 2010 5:33am
Quoting Walcott
If anyone use IT pinbar/engulfing method on low TF (15m, 3m, H1, H4), I will be happy to share and exchange knowledge !

Anyone interested ?
Please MP me ASAP. Thx for this thread : excellent for learning PA in general !

Hi, I trade pb's, buob's, beob's, double tops, double bottoms etc on lower time frames. If you have any questions feel free to ask. I would like to share ideas and show setups in the thread because then everyone benefits..

I am certain many of the seniors guys would also love to help..

regards,
Thank you j16!
  • #75,947
  • Sep 29, 2010 5:45am Sep 29, 2010 5:45am
i took this short. i took it on a retracement to ppz (purple line). my target is alltime low (green dashed line), stoploss is recent swing high (green dashed line)

reason for taking the trade is the free space between oct 2009 support and feb 2008 support. whenever i see such free space the price goes as expected
Attached Image (click to enlarge)
Click to Enlarge Name: uc.gif Size: 12 KB
  • #75,948
  • Sep 29, 2010 6:18am Sep 29, 2010 6:18am
Long USDJPY on retrace of BUOB to previous bar lows.

Price looks heavy right now and the fact that this is a retrace counter trend I have positon sized accordingly.

If price breaks the top of the BUOB before hitting my stop I will be smiling though
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy ret buob.gif Size: 17 KB
  • #75,949
  • Sep 29, 2010 6:22am Sep 29, 2010 6:22am
Quoting fxprocessor
Long USDJPY on retrace of BUOB to previous bar lows.

Price looks heavy right now and the fact that this is a retrace counter trend I have positon sized accordingly.

If price breaks the top of the BUOB before hitting my stop I will be smiling though
Daily view.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy ret buob daily view.gif Size: 18 KB
  • #75,950
  • Sep 29, 2010 7:09am Sep 29, 2010 7:09am
Quoting tehuringa
Just a quick check in to say to all my J16 bro's....I hope everyone is well
Dave!
I believe . . .
  • #75,951
  • Sep 29, 2010 7:32am Sep 29, 2010 7:32am
update-

eu trade just went positive, we'll have to see if it moves higher now as there is a chance that the euro will be bought as the previous high is being taken out. I am currently looking at the 1.3695 level for tp. As for the time being I am still quite strongly biased to the upside for the euro.

Will be posting a chart once trade is closed.
Thank you j16!
  • #75,952
  • Edited 8:40am Sep 29, 2010 8:13am | Edited 8:40am
I've put an order to the market @0.8600 with SL bellow low of breaking/closed candle on 4HR. Hope to be filled

edited@ 3:40pm: order filled @0.8601
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP_h4.PNG Size: 9 KB
  • #75,953
  • Sep 29, 2010 9:35am Sep 29, 2010 9:35am
Quoting giotto
I've put an order to the market @0.8600 with SL bellow low of breaking/closed candle on 4HR. Hope to be filled

edited@ 3:40pm: order filled @0.8601
Very nice
  • #75,954
  • Sep 29, 2010 9:47am Sep 29, 2010 9:47am
Quoting dmuk
Thanks again. This has clarified a lot of thoughts.



I have read through what feels like thousands! My eyes and brain are hurting! However I will continue to persevere.



Very interesting. I like the simplicity. One last question. When you say your set your stop loss on the "other side of the bar I am taking". For example: You enter on Long on Bar A. Your stop is set exactly at the low of Bar A? What timeframe?
Yep this is correct. If I am going long a BUOB, my entry is above the high and my stop is below the low, same for all other bars we use

Best
Mike
  • #75,955
  • Sep 29, 2010 9:49am Sep 29, 2010 9:49am
Quoting xmzhang
Hey Mike,
Refering to the 1H-BEOB of the E-G yesterday, the position of this 1H-BEOB wasn't that great is was somewhere at a swinglow on the 1H-TF, but if you took the triangle pattern into consideration then all of a sudden this BEOB would look more appealing. Then you could consider this BEOB as a breakout pattern out of that triangle, I didn't take this BeOB because of its position. I'am wright about this observation ?

May the force be with you.
Exactly Zhang, this is a fantastic scenario. Of course no trade cause the BEOB didn't trigger on the next bar, but I play situations like that all the time. They are great information at a BRN plus a wedge pattern

Best
Mike
  • #75,956
  • Sep 29, 2010 9:50am Sep 29, 2010 9:50am
Quoting tehuringa
Just a quick check in to say to all my J16 bro's....I hope everyone is well
Dave what's up brotha! How's the wine!?
  • #75,957
  • Sep 29, 2010 9:53am Sep 29, 2010 9:53am
Quoting mbqb11
Exactly Zhang, this is a fantastic scenario. Of course no trade cause the BEOB didn't trigger on the next bar, but I play situations like that all the time. They are great information at a BRN plus a wedge pattern

Best
Mike
Thanx very much Mike for clearing that up !
Pipcrawler
  • #75,958
  • Sep 29, 2010 10:08am Sep 29, 2010 10:08am
Quoting mbqb11
Of course no trade cause the BEOB didn't trigger on the next bar

Best
Mike
Hi Mike how many pips below the BEOB is/was your entry order. Do you use the same number of pips if its a 1H, 4H or Daily BEOB or increase proportionately ?
thanks
  • #75,959
  • Sep 29, 2010 10:11am Sep 29, 2010 10:11am
Quoting billm
Hi Mike how many pips below the BEOB is/was your entry order. Do you use the same number of pips if its a 1H, 4H or Daily BEOB or increase proportionately ?
thanks
Hey Bill

It was I believe 6 pips below and price went I think 2 pips.

Funny enough I just answered an email with your second question so here is what I said. THis is a rough guide

As for "buffers"

here is a general guide for me of how many pips above/below I use

1hr - 5-10 pips
4hr - 10-15 pips
daily 12- 18 pips
weekly 15-30 pips

Now I always take note of things like near bar highs/lows round numbers etc that is why there is a range. Also certain pairs that are bigger movers get bigger buffers.


Best
Mike
  • #75,960
  • Sep 29, 2010 10:48am Sep 29, 2010 10:48am
Hi all
A question for UK based traders, if you use MT4 what time of day is your close ? I am trying to find the optimum time to use for the close. The one I use at the moment is midnight GMT
TIA
Grahame
100 traders viewing now