james16 Chart Thread | Page 4029 | 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

  • #80,561
  • Nov 21, 2010 1:50pm Nov 21, 2010 1:50pm
Thanks for charts PPFX very interesting
Best
D
  • #80,562
  • Nov 21, 2010 2:29pm Nov 21, 2010 2:29pm
Quoting mbqb11
Hey Tamastomi

You have marked off your trouble areas very good so my question would be what do you plan to do at those areas. Mainly the first blue PPZ line that you have marked under the pinbar. It has many multiple bar highs but I see you have a take profit much further down.

Hope you had a nice weekend
Mike

Thank you for your reply.

Yes, it's a good question and I still don't know the answer.
I should change the entry under the PPZ - what you mentioned. I think if the price is able to break down that PPZ it will go to the second PPZ ( 1.3700)
Fortunately, I'm just demoing.
  • #80,563
  • Nov 21, 2010 4:25pm Nov 21, 2010 4:25pm
us/chf daily shows an IB at a nice swing high testing parity again...

weekly chart shows the strength of that level and the daily chart the IB
4hr charts show the intraday levels and trouble areas i would watch..

hi everyone btw ...lets hope i remember how to attach a chart!?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: weekly.gif Size: 16 KB
Click to Enlarge Name: daily.gif Size: 13 KB
Click to Enlarge Name: 4hour.gif Size: 15 KB
Click to Enlarge Name: 4hour2.gif Size: 16 KB
PATIENCE... DISCIPLINE
  • #80,564
  • Nov 21, 2010 4:47pm Nov 21, 2010 4:47pm
....
Attached Image (click to enlarge)
Click to Enlarge Name: daily.gif Size: 12 KB
PATIENCE... DISCIPLINE
  • #80,565
  • Nov 21, 2010 4:52pm Nov 21, 2010 4:52pm
I hope Lovejoy80 doesn't mind me copy and pasting from his journal:

" Originally Posted by lovejoy80
So with only ECAD to come profit for todays and yesterdays trades is +11.15R (I've broken the 100R barrier for the month

Personally the only thread I learned this from was the J16 thread and in particular Jarroo, mbqb11 and Raczekfx posts...you could do far worse than downloading (someone has compiled all posts per person) all their posts, get them printed and bound and read and re-read them over and over again and then go practice by watching charts as much as you can - that's pretty much what I did. "


Check out this guy's journal. It's pretty amazing
  • #80,566
  • Edited 6:39pm Nov 21, 2010 5:38pm | Edited 6:39pm
Quoting g_j_hook@yah
us/chf daily shows an IB at a nice swing high testing parity again...

weekly chart shows the strength of that level and the daily chart the IB
4hr charts show the intraday levels and trouble areas i would watch..

hi everyone btw ...lets hope i remember how to attach a chart!?

Yeah, and just under parity as well.


EU has a nice weekly PB right off the 50 fibo and 1.3500 BRN, sitting right on top of the 150 EMA. Don't like those multiple bar lows just above it though.

Still on my first coffee and missed them the first time around.



EDIT:

On further investigation, this PB is small compared to the previous bearish bar, which broke the PPZ and closed below it.

Also, there is a lot of boxing around this PPZ and I am leaning towards this perhaps being a Ghous IPB.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 199 KB
Click to Enlarge Name: picn.jpg Size: 187 KB
  • #80,567
  • Nov 21, 2010 6:37pm Nov 21, 2010 6:37pm
Quoting Pinbar
Yeah, and just under parity as well.


EU has a nice weekly PB right off the 50 fibo and 1.3500 BRN, sitting right on top of the 150 EMA. Don't like those multiple bar lows just above it though.

Still on my first coffee and missed them the first time around.
Might be a decent weekly entry Pinbar if we wait until it breaks those lows, as the next trouble area is fairly clearly defined.

I'm not a news trader by any means, but I think the Irish bail out thing is one of those times when it might pay to watch the news carefully.
  • #80,568
  • Nov 21, 2010 6:40pm Nov 21, 2010 6:40pm
Quoting forexben
Might be a decent weekly entry Pinbar if we wait until it breaks those lows, as the next trouble area is fairly clearly defined.

I'm not a news trader by any means, but I think the Irish bail out thing is one of those times when it might pay to watch the news carefully.


Thanks RB, yeah, my second coffee seems to suggest this one is a pass.
  • #80,569
  • Edited 7:20pm Nov 21, 2010 7:06pm | Edited 7:20pm
Looking for possible bearish PA off of the confluence area on the Daily.

May take us back to the 0.8500

EDIT:
There again Trichet's speech kind of throws a spanner in the works again.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 131 KB
  • #80,570
  • Nov 21, 2010 8:07pm Nov 21, 2010 8:07pm
Getting some nice confluence on the GPBUSD 4 hour
Attached Image (click to enlarge)
Click to Enlarge Name: gpbh4.gif Size: 16 KB
  • #80,571
  • Nov 21, 2010 8:20pm Nov 21, 2010 8:20pm
Quoting forexben
Getting some nice confluence on the GPBUSD 4 hour

You mean for some Bearish PA?
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 142 KB
  • #80,572
  • Nov 21, 2010 9:56pm Nov 21, 2010 9:56pm
I'm bullish actually Pinbar. I realise the FTA area is right in front of the 1.60 entry on the H4, but I'm looking to TP at around 1.61300.

Goes to show how subjective chart reading can be...
  • #80,573
  • Nov 21, 2010 10:25pm Nov 21, 2010 10:25pm
Quoting forexben
I'm bullish actually Pinbar. I realise the FTA area is right in front of the 1.60 entry on the H4, but I'm looking to TP at around 1.61300.

Goes to show how subjective chart reading can be...
I hear you FB, looking at the daily, it does look bullish, I suppose this triangle break will show us which way it wants to go.

Thanks for your input FB.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 159 KB
  • #80,574
  • Nov 22, 2010 12:09am Nov 22, 2010 12:09am
Quoting mbqb11
Hey Nuc

I think this is a fantastic trade. Notice the false breakout above that entire boxed range, and price closing well below it and a break of the PB is a break of a nice wedge too.

I think that is a recipe for a successful trade

This is where the story becomes so important. To the new PA trader they see pinbar in traffic. Which is good they see that cause most of the time it would be. But when we peel the layers on this we see VERY larger bar and everything above.

Thanks for sharing
Mike
Post of the year
  • #80,575
  • Nov 22, 2010 5:16am Nov 22, 2010 5:16am
Hi all how are you doing? welcome to another week
take a look on this weekly pin bar, is above the 200 and 50 EMA

checking the daily chart I notice that that the price reversed from the 365 EMA
Should I take this bar now?
what is your view
Attached Image (click to enlarge)
Click to Enlarge Name: 36.gif Size: 15 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 35.gif Size: 15 KB


Much Love
If you don't control your emotion it will control you.
  • #80,576
  • Nov 22, 2010 5:45am Nov 22, 2010 5:45am
Short Gold?
Hi, I'm newbie on PA reading thread, but spot Gold 4H. It doesn't stick very much above previous candle, but the blue resistance worked just perfect later this and last months even in uptrend.
I am not sure are we on Gold trend reversal, or is it a channel, but the line I think will work again. Any coments?
Attached Image
  • #80,577
  • Nov 22, 2010 6:05am Nov 22, 2010 6:05am
Quoting Krysztau
Short Gold?
Hi, I'm newbie on PA reading thread, but spot Gold 4H. It doesn't stick very much above previous candle, but the blue resistance worked just perfect later this and last months even in uptrend.
I am not sure are we on Gold trend reversal, or is it a channel, but the line I think will work again. Any coments?
Looks good to me, I would pay attention to BRN it may be a good level to take some profit...
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 13 KB
  • #80,578
  • Nov 22, 2010 6:31am Nov 22, 2010 6:31am
Quoting Adilius07
Here is my take
Dead on Adi.
Attached Image (click to enlarge)
Click to Enlarge Name: wpg03_ans.gif Size: 23 KB
  • #80,579
  • Nov 22, 2010 6:33am Nov 22, 2010 6:33am
Quoting Donkey
Dead on Adi.
Cool But see it still continued up as many times it does!
If we only learn to hold...
  • #80,580
  • Edited 6:54am Nov 22, 2010 6:41am | Edited 6:54am
Quoting emmy01
Should I take this bar now?
I guess that's something you have to find out for yourself.

Location looks good but consider that it runs into some trouble in case it breaks to the upside (I think Mike has mentioned it before). Furthermore the PB is small compared to the preceding BEOB. As you can see the PB already broke and is back on its way down. Without a tight SL you would be in the reds now.

If you have read the news today you know that Europe is bailing out Irland. Though I'm not sure what this means for the Euro in the short term. Fact is many euro pairs opened with a gap today. Those gaps tend to get closed (in this case to the downside). So it wouldn't be a wise decisison IMHO to enter this PB right away.

Let's see what happens while retracing.

EDIT: Do you see what happened on the 1h chart? A PB-like BEOB that closed under the 365EMA.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 101122_01.gif Size: 15 KB
Click to Enlarge Name: 101122_02.gif Size: 19 KB
Click to Enlarge Name: 101122_03.gif Size: 18 KB
Thanks J16, Sam Seiden, Udine and Jacko
34 traders viewing now