james16 Chart Thread | Page 3984 | 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

  • #79,661
  • Nov 10, 2010 5:13am Nov 10, 2010 5:13am
Quoting nasir.khan
and some opened positions
.
Hey Nasir, I see you don't have any EMAs on your chart. Don't you use them? The 150EMA maybe would have kept me out of the GBPCHF PB trade.

Quoting jarroo
Thanks Be Cool. It does look simple because . . it is.

I just isn't always easy to see. Over time with practise, it does become easier to see in real time.
Hi Jarroo, the hard part is to put that what became 2nd nature to you into words that even total newbies understand. That's an exceptional talent and it makes you a very good teacher. Count me in as one of your book buyers.
Attached Image (click to enlarge)
Click to Enlarge Name: 101110_01.gif Size: 18 KB
Thanks J16, Sam Seiden, Udine and Jacko
  • #79,662
  • Nov 10, 2010 5:24am Nov 10, 2010 5:24am
Quoting gh0stjpy
i have tried a couple of CFD and Forex accounts (currently started that Alpari UK contest) but am having trouble understanding how these Forex accs work? in SB acc if i place an order for £1 per pip and make 50 pips it's £50, but in Forex i get some crazy amount?? how do they work this out??
Hi gh0stjpy,

When spread betting, you are dealing with the spreadbet firm and have to use their nominal rates. However, when you trade with a forex broker, you are effectively buying or selling the currencies! As such, you rely on the exchange rates and the relationship with your account currency rather than a nominal amount set by the spreadbetting company. You will need to read up on direct rates, indirect rates and cross rates. You will also need to understand how to calculate your position size with these rates. Doing this you will learn about fixed and variable pip values as well as why you need to consider the lot size and contract increments that your broker offers. Not as bad as it sounds and there are plenty of resources available on these subjects, both at FF and other sites such as Babypips.


Quote
also am looking automate a bot or wateva it is called, where's best place to learn that? anyway happy trading all.

If you want to programme the 'bot (EA in metatrader terminology) then I would suggest looking at www.mql4.com

Hope my comments point you in the right direction

Regards
  • #79,663
  • Nov 10, 2010 5:44am Nov 10, 2010 5:44am
Quoting PhAnTi'
guys how do u rate usdcad weekly support and 1.000 lvl?
I got a buy limit order triggered at 1.0010, yesterday's BUOB is quite a nice long signal although when I looked this morning it was heading down toward parity so I put in an order to get in on a support bounce.

I'm targeting the high of yesterday's BUOB as the FTA and planning to stay in with another half - if it keeps going up. It's already bounced back off the 1.0050 area today.
Anything can happen.
  • #79,664
  • Nov 10, 2010 6:09am Nov 10, 2010 6:09am
Quoting xmzhang
I've just triggered a sell on the E-C, on the 1H-TF price gave me a indecision bar @ RNB 13400 also confluence with 62-fib and down-TL. I'am aiming for the intraday low @ 13320-ish.
First 1/2 position 35 pip profit, second 1/2 position stopped out @ BE+1.
Pipcrawler
  • #79,665
  • Nov 10, 2010 6:12am Nov 10, 2010 6:12am
Quoting ddinnov
I got a buy limit order triggered at 1.0010, yesterday's BUOB is quite a nice long signal although when I looked this morning it was heading down toward parity so I put in an order to get in on a support bounce.

I'm targeting the high of yesterday's BUOB as the FTA and planning to stay in with another half - if it keeps going up. It's already bounced back off the 1.0050 area today.
okay.I'm long for 1.0050 target.


9:30amCAD
Trade Balance

-1.4B
-1.3B

9:30amUSD
Trade Balance

-45.0B
-46.3B

9:30amUSD
Unemployment Claims

451K
457K

9:30amUSD
Import Prices m/m

1.1%
-0.3%



will be interesting for usdcad later
if forecasts hold usdcad will push up
Hero calls followed by margin calls...
  • #79,666
  • Nov 10, 2010 6:49am Nov 10, 2010 6:49am
Quoting PhAnTi'
okay.I'm long for 1.0050 target.


9:30am CAD
Trade Balance

-1.4B
-1.3B

9:30am USD
Trade Balance

-45.0B
-46.3B

9:30am USD
Unemployment Claims

451K
457K

9:30am USD
Import Prices m/m

1.1%
-0.3%



will be interesting for usdcad later
if forecasts hold usdcad will push up
I didn't even look at any news coming out - just was a pure PASR play for this one. Big BUOB off of parity + double bottom + divergence. Was going to do an entry off the break of the bar but at the time price was heading down to parity again so I just played the bounce. I'm wondering if I should move my stop to b/e with that news coming out.... This is a live trade

Think I'll leave it..
Anything can happen.
  • #79,667
  • Nov 10, 2010 6:51am Nov 10, 2010 6:51am
Demoing USDJPY on the daily chart. I know the BEOB does not look perfect (long wick above) but the break of the bearish 4h PB to the upside gave me some confidence. There's also some divergence and a triangle breakout.

Closed half of my position at 82.30 and hope to catch a trend reversal with the other half. Moved my SL a few pips below BE and am in a free trade now. Hopefully 82.00 and the various PBs underneath will act as support.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 101110_02.gif Size: 18 KB
Click to Enlarge Name: 101110_03.gif Size: 18 KB
Thanks J16, Sam Seiden, Udine and Jacko
  • #79,668
  • Nov 10, 2010 6:59am Nov 10, 2010 6:59am
Quoting ddinnov
I didn't even look at any news coming out - just was a pure PASR play for this one. Big BUOB off of parity + double bottom + divergence. Was going to do an entry off the break of the bar but at the time price was heading down to parity again so I just played the bounce. I'm wondering if I should move my stop to b/e with that news coming out.... This is a live trade

Think I'll leave it..
i'm out with 20 pips +

let c what news are telling
Hero calls followed by margin calls...
  • #79,669
  • Nov 10, 2010 7:02am Nov 10, 2010 7:02am
afternoon all, my first for the day.. i think the chart describes the situation best.

ps: wish rac cld see my development
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy 10.11.10.gif Size: 13 KB
  • #79,670
  • Nov 10, 2010 7:13am Nov 10, 2010 7:13am
Quoting Revstar
afternoon all, my first for the day.. i think the chart describes the situation best.

ps: wish rac cld see my development
Hello Revstar, could you explain in a few words if you could the reasons behind this trade, please?
  • #79,671
  • Nov 10, 2010 7:13am Nov 10, 2010 7:13am
Quoting Revstar
afternoon all, my first for the day.. i think the chart describes the situation best.

ps: wish rac cld see my development
well nice trade : /
Hero calls followed by margin calls...
  • #79,672
  • Nov 10, 2010 7:14am Nov 10, 2010 7:14am
Quoting Adilius07
Hello Revstar, could you explain in a few words if you could the reasons behind this trade, please?
Hero calls followed by margin calls...
  • #79,673
  • Nov 10, 2010 7:21am Nov 10, 2010 7:21am
Quoting Revstar
afternoon all...
ps: wish rac cld see my development
nice trade Revstar.
for sure he is around... watching
  • #79,674
  • Nov 10, 2010 7:28am Nov 10, 2010 7:28am
hiya,
not saying this is the right way... and still demoing/Very small acc till i get good!

1. bulish out side B (few bars earlier on my alpari uk feed)
2. support off 130
3. Mid trend (however you define trend) is up
just the way I interpreted the trade. I know everyone has there own style.

There are other factors, but off less importance. Main thing is J16 support & ressistance and j16 PA. Then develop own style! oh and i read all Mikes (mbq) & racs posts aswell as the main man's J16..:nerd:and lots of practice!
cheers
RS
  • #79,675
  • Nov 10, 2010 8:08am Nov 10, 2010 8:08am
CHF/JPY

It looks like risk apetite is on. DJ is just over strong support so there could be some strong move upside soon. A/J and almost all of the jpy crosses broke their resistance but CHF/JPY just gave some good signal and entry without any drawdown. 3xBUOB ;]
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2010-11-11_0300_CJH4.png Size: 37 KB
Click to Enlarge Name: 2010-11-11_0300_CJD.png Size: 39 KB
Click to Enlarge Name: 2010-11-11_0300_CJW.png Size: 41 KB
  • #79,676
  • Nov 10, 2010 8:39am Nov 10, 2010 8:39am
Just my opinion on Nzd/chf after your opinion jarroo.
Regards
Taz

http://img577.imageshack.us/img577/112/nzchf.gif

http://img839.imageshack.us/img839/3047/nzjpy.gif
  • #79,677
  • Nov 10, 2010 8:57am Nov 10, 2010 8:57am
hiya all, last one from me, as i have to start studying! similar principles as last trade. I dont think this one will last as long, maybe lot shorter term, although i do leave trades in expecting a longer run.
cheers+trade well
RS
Attached Image (click to enlarge)
Click to Enlarge Name: gu 10.11.10.gif Size: 11 KB
  • #79,678
  • Nov 10, 2010 8:58am Nov 10, 2010 8:58am
Quoting nuclear62
There´s Alpari Live
Nuc
thanks Nuc that is what I suspected

Mike
  • #79,679
  • Nov 10, 2010 9:02am Nov 10, 2010 9:02am
Quoting gh0stjpy
hi and thanks mbqb11 , john225, i currently trade on Spreadbetting acc as it's nice and simple ie: £1 per pip equals £1 per pip. Today i did a SELL on EUR/USD, AUD/USD, GBP/USD, made 5 pips and got out lol! but a gain better than a loss! i only tend to trade an hour a day due to work.

i have tried a couple of CFD and Forex accounts (currently started that Alpari UK contest) but am having trouble understanding how these Forex accs work? in SB acc...
Hey ghost

Some great information from the gang there.

We verify the Price bars by learning what price bars in what locations work the best. Keyword is LOCATION LOCATION LOCATION. As you work through this thread you will see many ways to do this. Start reading post 1 all the links on post 1, and then working your way through the first few hundred pages. Specifically of course paying attention to James16 posts. Then you will see him introduce key concepts and ways he interprets support and resistance, and confluence(multiple factors lining up) to determine when to find entries. As you get further and further it will all make more sense. Including how to begin to think about managing trades and little things here and there that help distinguish the good from the bad.

As you go and find trades be sure to post them and we can give you our feedback and those questions will spark new answers for you and then you just go with the flow. It's a long process but it gets easier the more time you spend with the stuff. It isn't magic but it is just logical stuff to develop logical trade plans.

Enjoy
Mike
  • #79,680
  • Nov 10, 2010 9:05am Nov 10, 2010 9:05am
Hiya guys!

Mike told me I should start looking more at Daily charts, so here it is. What do you think about the Daily AUDUSD.

Isn't the candle with the arrow to it a BEOB? Also the chart is making a divergence, what do you think?


PS.. Anyone looking at GBPUSD 4HR chart? A nice pin along with the trend.

Would you take any of these trades? Thanks!!
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily.png Size: 64 KB
78 traders viewing now