james16 Chart Thread | Page 4011 | 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

  • #80,201
  • Nov 16, 2010 7:42pm Nov 16, 2010 7:42pm
I haven't had much time for study lately, but I still check the charts at market close every day. Lately its been a bit rough, but I caught this BUOB on the USD/JPY. I'm taking a longer term perspective now, I hope to go live in a year, maybe 2, rather than in a few months.

I post this because this is the first trade I've held for more than 2 days. My FTA was incorrect/not reached, so I took half off on the first day. 1/2 still running. Target at a Weekly PPZ.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy8050.gif Size: 12 KB
  • #80,202
  • Nov 16, 2010 8:01pm Nov 16, 2010 8:01pm
Quoting PenguinTrade
I haven't had much time for study lately, but I still check the charts at market close every day. Lately its been a bit rough, but I caught this BUOB on the USD/JPY. I'm taking a longer term perspective now, I hope to go live in a year, maybe 2, rather than in a few months.

I post this because this is the first trade I've held for more than 2 days. My FTA was incorrect/not reached, so I took half off on the first day. 1/2 still running. Target at a Weekly PPZ.
Awesome Penguin, I almost pulled the trigger on that one(looks even better on fxpro feed). But very good use of pivot zones to manage your trade.

  • #80,203
  • Nov 16, 2010 8:10pm Nov 16, 2010 8:10pm
This is the kind of thing I am working on....Got to get that Jarroo simplicity.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 217 KB
  • #80,204
  • Nov 16, 2010 9:35pm Nov 16, 2010 9:35pm
Quoting Pinbar
Thanks HS...

Yeah, I already took two thirds off while scaling out at 60 & 130 pips + plus, the SL is currently at 1.28434, 80 pips above the 150 and, there is only a small portion left in currently 150 pips in profit.

I think if it can break the lower PPZ it may run a bit, possibly to 1.26500


EDTI: It is pushing the monthly PPZ so, I decided to actually lower the SL to 1.28140, 14 pips above the RN and lock in another 60 pips, while giving it enough room to run if it wants.
Hey PB nice trade. It looks like you entered on a retrace. Did you get your entry off another TF? I can't see why you chose that spot off these charts.
  • #80,205
  • Nov 16, 2010 9:39pm Nov 16, 2010 9:39pm
Quoting jarroo
Hey TJ, I took this one on the retrace.

I agree with you that the BUOB looked good on the Daily but the Weekly PB looked to small for me. .its funny because the Weekly PB is made up of the Daily bars of the BUOB. Just shows how relative time frames are compared to the PA that is presented.

Anyways, I was looking to enter at the retrace level of this BUOB, at its previous bar Highs. I don't know if you saw any of my posts talking about previous bar Highs/Lows on Outside Bars . .they can be a great entry point when confirmed with PA.

I did...
How often would you say that when you enter on a retrace your FTA is the Breakout point of the outside bare?
  • #80,206
  • Nov 16, 2010 9:41pm Nov 16, 2010 9:41pm
Quoting spookie94
Hey PB nice trade. It looks like you entered on a retrace. Did you get your entry off another TF? I can't see why you chose that spot off these charts.

Thanks Spookie. I love that name.

Yeah, I took this PB on H4 but I had the SL above the 150.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 211 KB
  • #80,207
  • Nov 16, 2010 9:44pm Nov 16, 2010 9:44pm
Quoting jarroo
Hey TJ, I took this one on the retrace.

I agree with you that the BUOB looked good on the Daily but the Weekly PB looked to small for me. .its funny because the Weekly PB is made up of the Daily bars of the BUOB. Just shows how relative time frames are compared to the PA that is presented.

Anyways, I was looking to enter at the retrace level of this BUOB, at its previous bar Highs. I don't know if you saw any of my posts talking about previous bar Highs/Lows on Outside Bars . .they can be a great entry point when confirmed with PA.

I did...
Jim, did this BuOB already break, then the retrace, then your entry?
  • #80,208
  • Nov 16, 2010 10:01pm Nov 16, 2010 10:01pm
Quoting mbqb11
Awesome Penguin, I almost pulled the trigger on that one(looks even better on fxpro feed). But very good use of pivot zones to manage your trade.

Mike, I have not noticed this BUOB before ,. but when taking a look at it now--

It did engulf 4 bars.. and almost at swing low..

But the close is NOT really strong.. Mike, what made you to pull (almost) the trigger ? wanted to know the story behind your trading decision .
  • #80,209
  • Nov 16, 2010 10:03pm Nov 16, 2010 10:03pm
Quoting mbqb11
Yep Very good PB

Just cause we can draw a lot of lines doesn't mean to trade off all of them. One great line can be more powerful then 10 other lines b/c it helps focus our attention to the obvious clean areas.

Mike
If you get a hard break thru a PPZ how much weight do you give to its strength next time it reaches that area? If it was only hit 1 or 2 times would you ignore it or wipe it from your charts?
  • #80,210
  • Nov 16, 2010 10:09pm Nov 16, 2010 10:09pm
Quoting Pinbar
Thanks Spookie. I love that name.

Yeah, I took this PB on H4 but I had the SL above the 150.
looks like you had a little bit of draw down then. Way to show those nerves of steel
  • #80,211
  • Nov 16, 2010 11:23pm Nov 16, 2010 11:23pm
Quoting geniusztc
is it a good position to go short ???
Firstly 1 hr TF is suicidal,you should trade higher TF and secondly there was no PA,if you are just begining then don't trade without bar confirmation.
If you believed there was a bar there you are mistaken,please elaborate the bar you saw.

http://img638.imageshack.us/img638/3165/ppzgh.gif
  • #80,212
  • Nov 16, 2010 11:30pm Nov 16, 2010 11:30pm
Quoting cprao
Mike, I have not noticed this BUOB before ,. but when taking a look at it now--

It did engulf 4 bars.. and almost at swing low..

But the close is NOT really strong.. Mike, what made you to pull (almost) the trigger ? wanted to know the story behind your trading decision .
Hey C

Basically it was that 80 was being defended very hard and we had a large range. I was looking for a bit lower low on the BUOB or higher close and just ended up passing. The FTA was very clear so I almost did but since I was in a bunch of other trades I just passed.

Logical area though

Mike
  • #80,213
  • Nov 16, 2010 11:30pm Nov 16, 2010 11:30pm
Quoting spookie94
If you get a hard break thru a PPZ how much weight do you give to its strength next time it reaches that area? If it was only hit 1 or 2 times would you ignore it or wipe it from your charts?
Hey Spookie

I guess it really depends on the scenario. Any charts?

Thanks
Mike
  • #80,214
  • Nov 16, 2010 11:32pm Nov 16, 2010 11:32pm
thank you pinba ,for point out my problem on the au trade . fortunately, i finally won some pips yesterday .

now ,i am just confusing something about my usdcad long order . in my daily chart ,i find that the price just near the previous support zone ,so closing my order and taking profit may be a not bad choice .what about your ideas ?? thank you very much.
Attached Image (click to enlarge)
Click to Enlarge Name: Snap5.jpg Size: 236 KB
A chart helps those who can read it.
  • #80,215
  • Nov 16, 2010 11:33pm Nov 16, 2010 11:33pm
The Price is testing Lower part of TL and confluence area.
I think this is going to fall but not today,if the test is complete we may have fall to 80.50.
Regards
Taz

http://img201.imageshack.us/img201/2879/ppzghd.gif

http://img821.imageshack.us/img821/6088/ppzghdf.gif
  • #80,216
  • Nov 16, 2010 11:39pm Nov 16, 2010 11:39pm
Quoting 666Doom
Firstly 1 hr TF is suicidal,you should trade higher TF and secondly there was no PA,if you are just begining then don't trade without bar confirmation.
If you believed there was a bar there you are mistaken,please elaborate the bar you saw.

http://img638.imageshack.us/img638/3165/ppzgh.gif
really thank you very much Doom. actually , i am not only a newbie about the JAMES PA, but also a newbie about trade . i just do not have a trading system ,and sometimes just feeling it . and , i only have a $200 account ,and only trade 0.01lots one time (loool),. now i know that have no rules trading is suicidal. and i will learn from all professionals just like you, step be step .

i am so moved that you professional give me care.
A chart helps those who can read it.
  • #80,217
  • Nov 16, 2010 11:39pm Nov 16, 2010 11:39pm
http://img201.imageshack.us/img201/8053/usd88chf.gif
  • #80,218
  • Nov 16, 2010 11:44pm Nov 16, 2010 11:44pm
long eu
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 31 KB
  • #80,219
  • Nov 16, 2010 11:47pm Nov 16, 2010 11:47pm
http://img716.imageshack.us/img716/557/usdjpygfh.gif
  • #80,220
  • Nov 17, 2010 12:07am Nov 17, 2010 12:07am
hello,Pinba

some ideas about TF, the low time frame may be not stabe ,but when i trade the low TF, i always have small SL, but ,when you trade higher TF, you will always have to set up a large SL. so .......lol
however ,what about my this trade ? just give your critical .. thank you
Attached Image (click to enlarge)
Click to Enlarge Name: Snap5.jpg Size: 266 KB
A chart helps those who can read it.
47 traders viewing now