james16 Chart Thread | Page 3897 | 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

  • #77,921
  • Oct 20, 2010 7:06am Oct 20, 2010 7:06am
Just triggered long on the C-J, I'll explain later why I went long, now to busy managing this one.
Attached Image (click to enlarge)
Click to Enlarge Name: FF.jpg Size: 184 KB
Pipcrawler
  • #77,922
  • Oct 20, 2010 7:22am Oct 20, 2010 7:22am
Quoting Adilius07
I can speak only english. Could I get around ok?
sure, no problem.
deaf/mute people (my uncle is one) can get around ok, so im sure u can do much much better.

Quoting Adilius07
And SC may I ask that fellow trader trades J16 too?
How is he doing on live account may I ask?
possibly.
he has posted here in the recent past.

Quoting Pinbar
Yeah, but you could you stand the heat and humidity, I couldn't.
the key for people like u is to acclimatize.
i have the opposite problem: i have a low coldness threshold.

also, u can live in places here with cool climates.
why do u think Koreans & Japanese (aside from Westerners) thrive & love it here?
  • #77,923
  • Oct 20, 2010 7:29am Oct 20, 2010 7:29am
Quoting supremeChaos
sure, no problem.
deaf/mute people (my uncle is one) can get around ok, so im sure u can do much much better.


possibly.
he has posted here in the recent past.


the key for people like u is to acclimatize.
i have the opposite problem: i have a low coldness threshold.

also, u can live in places here with cool climates.
why do u think Koreans & Japanese (aside from Westerners) thrive & love it here?
Cool. thanks for the info. Someday I would be there at least just for a vacation! I heard many times it's cool.
  • #77,924
  • Oct 20, 2010 7:42am Oct 20, 2010 7:42am
Quoting xmzhang
Just triggered long on the C-J, I'll explain later why I went long, now to busy managing this one.
Closed 1/2 position for a small 20 pip profit, for the other 1/2 moved SL to BE, price is at the moment a few pips above my SL
Pipcrawler
  • #77,925
  • Oct 20, 2010 7:57am Oct 20, 2010 7:57am
Quoting xmzhang
Closed 1/2 position for a small 20 pip profit, for the other 1/2 moved SL to BE, price is at the moment a few pips above my SL
BINGO, stopped out @ BE for remaining position #@!!&*$.
Pipcrawler
  • #77,926
  • Oct 20, 2010 8:07am Oct 20, 2010 8:07am
Quoting emmy01
Thanks Mike kudos to you.

so any price action formed in this kind of area are invalid?

Thanks

Much love
Hey Emmy

Not neccesarily invalid, but under the circumstances we have to be much more careful what price bars we play. For example your next DBLHC is also very much in traffic, and that means price is likely to bounce very choppy at the first areas of trouble. These are the market enviornments that kill traders. Wait for us to get out of this area or at the very EXTREME parts of the "box"

best
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 22 KB
  • #77,927
  • Oct 20, 2010 8:16am Oct 20, 2010 8:16am
Quoting Mist Gun
Greetings,

I am looking for advice on entries. For example, I spot a DBHLC or DBLHC. What is the appropriate entry method? Would putting a buy/sell limit be best?

Looking forward to hearing input from other trader regarding this matter.

Regards,
MG
Hey MG

There are various ways to enter. The first thing is a setup is not valid till it breaks, and not invalid to it breaks the opposite side.

So if you have a DBLHC to go long, it is not valid till the high of the pattern gets broken. For this reason the most conservative way and the way most of us enter is to wait for a break of the high and to place a buy stop above that high. Likewise a stop going on the other side of the pattern.

There are other ways to enter. A retrace of the pattern(retrace being some level defined by s/r, or a fib, a round number, etc). The other way is on the close. The advantages are a bigger position size. The disadvantage is potentially getting in before the bar setup validates.

Test what is most comfortable for yourself on demo

Take care
Mike
  • #77,928
  • Oct 20, 2010 8:17am Oct 20, 2010 8:17am
Quoting xmzhang
Just triggered long on the C-J, I'll explain later why I went long, now to busy managing this one.
Lemme explain my trade. On the 4H-TF of C-J price generated a BUOB @ PPZ/RNB 8400. I entered on a much lower TF via a nice PB @ 8420-ish also a 4H-PPZ and near a previous 4H-bar high, FTA would be the 8460. On the lower TF price broke the BUOB with quite some momentum, but right after the break bullish momentum dissipated and price dropped back. Just can't figure out why the break didn't pull through, the only barriers I can think of are those marked off daily bar lows on the attachement but I didn't consider these as important, also on the 1H-TF the 150 SMA was hanging around at the breakout. Could one of the senior members comment on this live-trade ?

May the force be with you.
Attached Image (click to enlarge)
Click to Enlarge Name: FF.jpg Size: 201 KB
Pipcrawler
  • #77,929
  • Oct 20, 2010 8:21am Oct 20, 2010 8:21am
Quoting xmzhang
Lemme explain my trade. On the 4H-TF of C-J price generated a BUOB @ PPZ/RNB 8400. I entered on a much lower TF via a nice PB @ 8420-ish also a 4H-PPZ and near a previous 4H-bar high, FTA would be the 8460. On the lower TF price broke the BUOB with quite some momentum, but right after the break bullish momentum dissipated and price dropped back. Just can't figure out why the break didn't pull through, the only barriers I can think of are those marked off daily bar lows on the attachement, also on the 1H-TF the 150 SMA was hanging around at the breakout....
I would be cautious trading into the back end of the previous support here
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 19 KB
  • #77,930
  • Oct 20, 2010 8:31am Oct 20, 2010 8:31am
Quoting Pinbar
The term PPZ is an area that has acted as both Support & Resistance.

I drew this only on the daily chart, just to give you an idea but, you may want to start on the monthly and work your way down to the daily or H4 time frame using different color lines, so that you remember the large time frame lines will be more solid.

Hope this helps.


Just a roughly drawn chart to give you the idea of what we are trying to do.
There may well be more PPZ not on these charts, I am just trying to show you what I mean.
You are the Bomb man. I highly appreciate your effort.
Much love
If you don't control your emotion it will control you.
  • #77,931
  • Oct 20, 2010 8:33am Oct 20, 2010 8:33am
Quoting mbqb11
Hey Emmy

Not neccesarily invalid, but under the circumstances we have to be much more careful what price bars we play. For example your next DBLHC is also very much in traffic, and that means price is likely to bounce very choppy at the first areas of trouble. These are the market enviornments that kill traders. Wait for us to get out of this area or at the very EXTREME parts of the "box"

best
Mike
Thanks Mike
I want to you give me the link to where u state the meaning of the the following
PPZ
PB
S/R
etc..........

Keep up the good work.

Much love
If you don't control your emotion it will control you.
  • #77,932
  • Oct 20, 2010 8:34am Oct 20, 2010 8:34am
Quoting mbqb11
I would be cautious trading into the back end of the previous support here
Yes I see, taking a closer look now I traded right into previous support build up by the last two big BUOB's ! My BUOB went right into 2 other BUOB's. I need to zoom out my chart to have a broader view. Luckily I didn't enter on a break of the 4H-BUOB but on a pullback, so I still got away with a small profit. Thnx Mike for clearing up.

May the force be with you.
Pipcrawler
  • #77,933
  • Oct 20, 2010 8:41am Oct 20, 2010 8:41am
Quoting emmy01
Thanks Mike
I want to you give me the link to where u state the meaning of the the following
PPZ
PB
S/R
etc..........

Keep up the good work.

Much love
Hey Emmy

Do you mean what those abbreviations stand for ?

If so here is a lot of them

http://www.forexfactory.com/showpost...ostcount=56751



Best
Mike
  • #77,934
  • Oct 20, 2010 8:46am Oct 20, 2010 8:46am
Quoting emmy01
Thanks Mike
I want to you give me the link to where u state the meaning of the the following
PPZ
wow.

this must be the 2nd or 3rd or 4th time u posted that. (i checked your post history)
i gave u a link (once or twice) that contained exactly what u need. (go back & see my previous response to u. i pointed u to a link)
this tells me u are a selective reader. (which is detrimental, imho, if u are new but serious at this)
if u have been proactive, u could've used your time better if u used Forex Factory's Search tool, instead of asking the same thing 2 or 3 times.

i really hope u are not a troll.
Sorry to be frank but it's for your own good. (newer traders whine that this & other threads are HUGE & yet they are the ones that make the threads much voluminous than it should be)
i want people to be self-reliant. IMHO self-reliance is 1 of the main ingredients to succeed in trading & in any life endeavor.
  • #77,935
  • Oct 20, 2010 9:27am Oct 20, 2010 9:27am
Quoting xmzhang
Lemme explain my trade. On the 4H-TF of C-J price generated a BUOB @ PPZ/RNB 8400. I entered on a much lower TF via a nice PB @ 8420-ish also a 4H-PPZ and near a previous 4H-bar high, FTA would be the 8460. On the lower TF price broke the BUOB with quite some momentum, but right after the break bullish momentum dissipated and price dropped back. Just can't figure out why the break didn't pull through, the only barriers I can think of are those marked off daily bar lows on the attachement but I didn't consider these as important, also on the 1H-TF...
xmzhang,
I want you to know that I have been studying your approach to trading with very keen interest, please keep posting and explaining it is inspiring me:
Basically it seems what you do is that you get a trigger candle PA (at least did in this instance in this instance - DBLHC) on a given Tf then move to lower tf to seek appropriate entry point. Did I get you? Is this how you always handle your entries or just in this case?
  • #77,936
  • Oct 20, 2010 9:38am Oct 20, 2010 9:38am
Jim
Mike
This is my progress

Take a look at this trade I have profit locked and I am still in
can you tell me if i should get out of the trade

Attached Image (click to enlarge)
Click to Enlarge Name: 22.gif Size: 16 KB


Thanks mike

Much love
If you don't control your emotion it will control you.
  • #77,937
  • Oct 20, 2010 9:42am Oct 20, 2010 9:42am
Quoting jeffokes
xmzhang,
I want you to know that I have been studying your approach to trading with very keen interest, please keep posting and explaining it is inspiring me:
Basically it seems what you do is that you get a trigger candle PA (at least did in this instance in this instance - DBLHC) on a given Tf then move to lower tf to seek appropriate entry point. Did I get you? Is this how you always handle your entries or just in this case?
Nice to hear that I have a fan. In most of my trades I try to enter on a pullback of the higher TF-PA and not directly on a break of the higher TF-PA. I like to find a optimal entrypoint in the lower TF's, thereby reducing my SL (risk) and should the break not sustain then I still may sneak away with a small profit like today's live trade on the C-J. Every setup has it's optimal entry point, for me that's as little as possible (initial) drawdown, drawndown makes me nervous.

May the force be with you.
Pipcrawler
  • #77,938
  • Oct 20, 2010 9:45am Oct 20, 2010 9:45am
Quoting emmy01
...
Take a look at this trade I have profit locked and I am still in
call you tell me if i should get out of the trade
....
everybody is different, so u will get different answers.
what u can do is exit part of your positions & let the remaining run.

trade-wise, i think 0.9550-80 area will be key to watch for.. if it will stop price or if it will get breached & let u visit 0.9500 or below.

once u learn more about S/R, PPZ, u would be able to decide for yourself.
u have to learn what u are comfortable with. try out different exit styles.
it's very important.
another awesome trade, by the way
  • #77,939
  • Oct 20, 2010 9:51am Oct 20, 2010 9:51am
Quoting xmzhang
BINGO, stopped out @ BE for remaining position #@!!&*$.
What a BUMMER, look what C-J did after it stopped me out, my SL got hit within a few pips. Price has hit my FTA to the pip ! In hindsight maybe I shouldn't have moved my SL so quickly to BE on my remaining position, as I already had banked some profit, something to think about for the next live-trade.
Attached Image (click to enlarge)
Click to Enlarge Name: FF.jpg Size: 188 KB
Pipcrawler
  • #77,940
  • Oct 20, 2010 9:56am Oct 20, 2010 9:56am
Quoting aserbfx
on a weak day for stocks, coca-cola broke the 60 usd. wait for a pull-back and then long.
got up without any pullback. long size 60.47 usd. took half profit right now at 61.22 usd, next target will be 62.90 usd
meine augen sind die sterne
44 traders viewing now