james16 Chart Thread | Page 3888 | 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

  • #77,741
  • Oct 18, 2010 9:57pm Oct 18, 2010 9:57pm
Quoting bluetrader
In at 1.3990

-- Danny

Bluetrader,

Can you give some more details of this trade? What are you looking at here? PB, long, short etc. Sorry, this may be obvious to most but I am new to this.

Thanks.
  • #77,742
  • Oct 18, 2010 10:11pm Oct 18, 2010 10:11pm
Quoting mbqb11
Hey Adi

No one "setup" is more effective or reliable. Every setup and situation is it's own play in my book. Pinbars are no more effective then outside bars, just as the daily timeframe is no more reliable then the 5min. Everything is in relation to one and another , so that is how I approach every chart adn every trade. It's the situation(bars+s/r+confluence+ everything else) as a whole.

As for how I play them. When it is a multibar high/low I simply play a pure break. Just a buy above the highs. I play pullbacks only for breakout patterns,...

Hey Mike, very interesting strategy there. I saw James' charts on it but wasn't sure how to play it myself.

What other factors do you look out for other than having at least 3 bar highs/lows? Does location and confluence play a big part here? Also, do you set a tight stop loss and monitor such trades very tightly since most of them seem to retrace back after the fast break?
  • #77,743
  • Oct 18, 2010 10:16pm Oct 18, 2010 10:16pm
Quoting melvin87
Hey Mike, very interesting strategy there. I saw James' charts on it but wasn't sure how to play it myself.

What other factors do you look out for other than having at least 3 bar highs/lows? Does location and confluence play a big part here? Also, do you set a tight stop loss and monitor such trades very tightly since most of them seem to retrace back after the fast break?
I usually look for more then 3-4 bar highs/lows in a row. There is no set one thing I look for necessarily. I just try to find ones that stick out and I believe will give a good push. My stop loss generally goes under the breakout bar(the bar that breaks the bar highs/lows).

Best
Mike
  • #77,744
  • Oct 18, 2010 10:21pm Oct 18, 2010 10:21pm
Quoting mbqb11
I usually look for more then 3-4 bar highs/lows in a row. There is no set one thing I look for necessarily. I just try to find ones that stick out and I believe will give a good push. My stop loss generally goes under the breakout bar(the bar that breaks the bar highs/lows).

Best
Mike
Ahh okok, ill backtest and see how it goes. Looks really interesting
  • #77,745
  • Oct 18, 2010 10:44pm Oct 18, 2010 10:44pm
Quoting mbqb11
Hey Lee

We always want to wait for a break to confirm the continuation.
So Mike, on that trade, would it be considered a counter trend trade?
  • #77,746
  • Oct 18, 2010 11:05pm Oct 18, 2010 11:05pm
Quoting Pinbar
Hey Greenhaze, I have taught English here in Japan for 25 years, your English is fine. Believe me, you can communicate really well. Don't worry about it, you are running rings around the English I see here.


Interesting theory about the stops.
25 years? Must be some kind of masochist. lol

I`m going on 9 years here and don`t know how much longer I can last. What keeps you genki?
  • #77,747
  • Oct 18, 2010 11:32pm Oct 18, 2010 11:32pm
Quoting mbqb11
Hey Lee

We always want to wait for a break to confirm the continuation.
Thanks for the confirmation.

So my earlier two trades wasn't valid. But today GJ did break through the double low bars, good timing. So I trade again, I closed those invalid trades after your comment. They are demo anyways.

Here is my 2nd try:

I am also learning SR levels so that I can learn entry and exit. But at this point, my SL is previous low @130.10, TP is at support level 127.87. I am afraid that it already broke through the support level around 128.75.

So much to learn, thank you for your reply mbqb11

Attached Image (click to enlarge)
Click to Enlarge Name: 201010191223.gif Size: 23 KB
  • #77,748
  • Oct 19, 2010 12:26am Oct 19, 2010 12:26am
Quoting silly cybin
25 years? Must be some kind of masochist. lol

I`m going on 9 years here and don`t know how much longer I can last. What keeps you genki?

Women, wine & song.

Yeah, it is not like the old days of people coming up to you in the streets and offering you 10,000 Yen an hour to teach them.

I feel Japan has had its good days, next stop is China.
Maybe a uni teaching job, I have someone setting something up for me right now.
  • #77,749
  • Oct 19, 2010 12:29am Oct 19, 2010 12:29am
Quoting Adilius07
WOWOW WHATS UP WITH SP500???? 10% FALL just like this!!!

THIS IS DAILY SP500!!!

EDIT: Was it this? http://blogs.barrons.com/focusonfund...-on-spys-fall/

EDIT: LOL
NYSE Euronext cancelled all trades in the $74.8 billion SPDR S&P 500 ETF Trust ...
hi adilius,
this is not the s&p 500 index. it is an exchange traded fund (etf) on the s&p from the asset manager "state street".
hth
meine augen sind die sterne
  • #77,750
  • Oct 19, 2010 12:30am Oct 19, 2010 12:30am
Quoting silly cybin
25 years? Must be some kind of masochist. lol
I`m going on 9 years here and don`t know how much longer I can last. What keeps you genki?
probably he loves the place,the culture, the people so much.
or perhaps he is a Japanese or has an unfinished business in Japan in his former life.
better check our grammar, we got 2 instructors around.


Quoting leelar
Thanks for the confirmation.
...
Here is my 2nd try:
I am also learning SR levels so that I can learn entry and exit. But at this point, my SL is previous low @130.10, TP is at support level 127.87...
Hello leelar,
IMHO, u should get familiar with S/R, PPZ plotting first before u venture into taking continuation trades like this.
S/R & PPZs are our roadmaps. it will help u navigate through the price jungle.

regarding your trade..
my concern is u shorted near/right at a possible bottom.
i would want 128.50 - 129 broken first & with conviction to get more confident that your TP will have a chance to get hit. if 129.50 - 130 breaks first, well, u might have a problem.

Hope this helps
  • #77,751
  • Oct 19, 2010 12:36am Oct 19, 2010 12:36am
Quoting leelar
Thanks for the confirmation.

So my earlier two trades wasn't valid. But today GJ did break through the double low bars, good timing. So I trade again, I closed those invalid trades after your comment. They are demo anyways.

Here is my 2nd try:

I am also learning SR levels so that I can learn entry and exit. But at this point, my SL is previous low @130.10, TP is at support level 127.87. I am afraid that it already broke through the support level around 128.75.

So much to learn, thank you for your reply mbqb11

Attachment

Leelar

seems a pretty strange place to start selling with the previous bullish reactions at this area and no PA to support it going lower.

What were your reasons for selling?
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 93 KB
  • #77,752
  • Oct 19, 2010 12:38am Oct 19, 2010 12:38am
Quoting supremeChaos
probably he loves the place,the culture, the people so much.
or perhaps he is a Japanese or has an unfinished business in Japan in his former life.
better check our grammar, we got 2 instructors around.



Hello leelar,
IMHO, u should get familiar with S/R, PPZ plotting first before u venture into taking continuation trades like this.
S/R & PPZs are our roadmaps. it will help u navigate through the price jungle.

regarding your trade..
my concern is u shorted near/right at a possible bottom.
i would want 128.50 - 129 broken...

I have unfinished business with the company I used to work for, heavy court case. Or I would have been long gone a year ago.


Hey, no need to worry on that score SC, my grammar is atrocious to say the least.
  • #77,753
  • Edited 9:00am Oct 19, 2010 12:45am | Edited 9:00am
Hello PB, just wanted to stop by and tell you that I'm still on board. I just had to do some business in the past weeks. It's great to see that you are still active and getting pro status here. This motivates me a lot. Wwe hopefully will see soon at the J16-PF.

Keep up your good work!
Hans
Thanks J16, Sam Seiden, Udine and Jacko
  • #77,754
  • Oct 19, 2010 12:52am Oct 19, 2010 12:52am
Quoting Pinbar
Women, wine & song.
Yeah, it is not like the old days of people coming up to you in the streets and offering you 10,000 Yen an hour to teach them.
I feel Japan has had its good days, next stop is China.
Maybe a uni teaching job, I have someone setting something up for me right now.
wow, u got a multilingual tongue Sir
10k Yen, huh? very lucrative back then

i believe China has been taking in English teachers for some time now.
just in case, FYI... well, IMHO, Chinese language is much difficult than Nihonggo. the Chinese characters to are much detailed/intricate compared to Hiragana, katakana, kanji. (i can speak, write & understand a bit of both worlds)
anyway, i think u can manage really well.


seriously, we have to correct such signs (in China &other countries)
http://www.travelblog.org/Photos/2965369
http://www.jaunted.com/story/2006/10...regnant+Lounge
(it's hard to make a direct & accurate translation for certain phrases, words, sayings of certain countries like China, Japan etc)
http://img248.imageshack.us/img248/3598/72221572.jpg
  • #77,755
  • Oct 19, 2010 12:53am Oct 19, 2010 12:53am
Quoting HanSolo
Hello PB, just wanted to stop buy and tell you that I'm still on board. I just had to do some business in the past weeks. It's great to see that you are still active and getting pro status here. This motivates me a lot. Wwe hopefully will see soon at the J16-PF.

Keep up your good work!
Hans

Hey HS.

Glad to hear you have more time.
Yeah, I am over at the PF and studying, studying and then studying.

Pro status, you must be joking!

I am the bottom of the barrel for sure, I just keep at it.
  • #77,756
  • Oct 19, 2010 1:00am Oct 19, 2010 1:00am
Quoting supremeChaos
wow, u got a multilingual tongue Sir
10k Yen, huh? very lucrative back then

i believe China has been taking in English teachers for some time now.
just in case, FYI... well, IMHO, Chinese language is much difficult than Nihonggo. the Chinese characters to are much detailed/intricate compared to Hiragana, katakana, kanji. (i can speak, write & understand a bit of both worlds)
anyway, i think u can manage really well.


seriously, we have to correct such signs (in China &other countries)
http://www.travelblog.org/Photos/2965369
http://www.jaunted.com/story/2006/10...regnant+Lounge

...

Yeah, you see the same weird signs here.

Yeah, I speak Japanese fluently, my wife is currently teaching my Chinese.
Attached Image (click to enlarge)
Click to Enlarge Name: 171947fb708fdae2c.jpg Size: 290 KB
Attached Images
  • #77,757
  • Oct 19, 2010 1:08am Oct 19, 2010 1:08am
Quoting Pinbar
Yeah, you see the same weird signs here.
Yeah, I speak Japanese fluently, my wife is currently teaching my Chinese.
yeah, i deliberately did not post Japanese signs so u can post them yourself.

but enough already.. it's only Tuesday, u know, LOL
  • #77,758
  • Oct 19, 2010 1:55am Oct 19, 2010 1:55am
Yeah, you set me off with that.LoL


Interestingly enough the Japanese sign about passing gas says basically the same thing as the English, only it says it says, "When farting, you look behind you but when smoking you forget".

Seeing some interesting wedges here and there.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 117 KB
  • #77,759
  • Oct 19, 2010 2:20am Oct 19, 2010 2:20am
GU also starting to form a wedge with a few false breakouts.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 32 KB
  • #77,760
  • Oct 19, 2010 2:28am Oct 19, 2010 2:28am
Hi mike.
I have been reading a lot of your posts and can tell you are a very good trader.I am particularly interested in how you trade PA off S/R and breakouts. I tried to emulate what you do but still can't seem to find the kind of setup that you would take.

Anyway, here is a trade i took today. Identify S/R around daily R1 and weekly R1. Short DBHLC on break with stop above 61.8% fib of the second candle (DBHLC).

Please tell me what i did wrong with this trade. Or is it just one of those trade that wasn't meant to work out despite doing everything correctly
Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: ucad01.gif Size: 29 KB
49 traders viewing now