james16 Chart Thread | Page 4033 | 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

  • #80,641
  • Nov 23, 2010 4:08am Nov 23, 2010 4:08am
Quoting Pinbar
Hey Jarroo

Just practicing PPZ when I noticed the Reverse H&S on the weekly on EJ.

Looks like the right shoulder is almost complete.

I know this chart is hard to read being black but, my eyes can't handle the white backgrounds in the evenings after a full day of goggling the charts.
Try wearing sunglasses in the evenings, I know it sounds stuppid but it filters out the with background.
Pipcrawler
  • #80,642
  • Nov 23, 2010 4:21am Nov 23, 2010 4:21am
Quoting xmzhang
Try wearing sunglasses in the evenings, I know it sounds stuppid but it filters out the with background.

I would if I didn't need reading glasses to view the screen.

Thanks X.
  • #80,643
  • Nov 23, 2010 4:43am Nov 23, 2010 4:43am
Quoting Pinbar
Hey Jarroo

Just practicing PPZ when I noticed the Reverse H&S on the weekly on EJ.

Looks like the right shoulder is almost complete.

I know this chart is hard to read being black but, my eyes can't handle the white backgrounds in the evenings after a full day of goggling the charts.
That's why I use a slightly grey background. In design school I was taught that it is the best background setting for clear foreground contrast (less irradiation than white) and it is far more eye-friendly.
Thanks J16, Sam Seiden, Udine and Jacko
  • #80,644
  • Nov 23, 2010 5:29am Nov 23, 2010 5:29am
Quoting jarroo
Hey bertie, long time no see brother.

Yes, I will plot PPZ levels other then the BRN or RN, but I will also note where the BRNs are located inrelation to these non-BRNs PPZ levels. Most of the time, strong PPZ levels are at BRNs . .(or are BRNs at PPZ levels. lol )

The levels have to be very clear and obvious. Remember, how a bar closes can determine if it qualifies as Support or Resistance.


Take the Eur/Aud for example.

The 1.4050 makes much more sense to me than the 1.4000, but I won't ignore...

The Eur /Aud 8 Hour gave a easy setup (the story made it easy) which was how the Higher TF PPZ level and PA came together.

Daily BUOB's previous Highs that were Resistance are still acting as Support once Price broke through and closed above. .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euraud19.jpg Size: 109 KB
Click to Enlarge Name: euraud19 22.jpg Size: 113 KB
Click to Enlarge Name: euraud19 228888.jpg Size: 126 KB
Indicators show the past. Price Action "Indicates" the future.
  • #80,645
  • Nov 23, 2010 5:41am Nov 23, 2010 5:41am
Quoting jarroo
Just to follow up on this example . . .

Price move up to our previous Support level that broke through on the Daily. So now we look for clear strong bearish PA at this potential Resistance level.

The hourly showed no strong looking PA . .something like that big pinbar looking BEOB (in green) would have been nice at this level.

There was an IB/BEOB that offered up some 20 or so pips but nothing to write to Mike about. . .an easy pass.

Follow up from this post on the Aud/Usd.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd23.jpg Size: 99 KB
Indicators show the past. Price Action "Indicates" the future.
  • #80,646
  • Nov 23, 2010 6:01am Nov 23, 2010 6:01am
Quoting Pinbar
Hey Jarroo

Just practicing PPZ when I noticed the Reverse H&S on the weekly on EJ.

Looks like the right shoulder is almost complete.

I know this chart is hard to read being black but, my eyes can't handle the white backgrounds in the evenings after a full day of goggling the charts.


What stood out to me was the the Big Support and Resistance level . . I wish it was clearer, but you can see that its there.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpywwee.jpg Size: 90 KB
Indicators show the past. Price Action "Indicates" the future.
  • #80,647
  • Nov 23, 2010 6:03am Nov 23, 2010 6:03am
Quoting jarroo
What stood out to me was the the Big Support and Resistance level . . I wish it was clearer, but you can see that its there.
The Monthly looks clearer.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpymmmmmmmmmmm.jpg Size: 90 KB
Indicators show the past. Price Action "Indicates" the future.
  • #80,648
  • Nov 23, 2010 6:05am Nov 23, 2010 6:05am
Quoting HanSolo
This rises my optimism, Mike. I still bang my head against the wall whenever I experience a full bar loss while demoing.
For me the same ;-) that was the reason why i still trade demo for 2-3 years now :-o
i jumped from system to system because of 1 loss and i thauht that this system is crap and changed it i imagined that the demo account is my real account ^^
  • #80,649
  • Nov 23, 2010 6:21am Nov 23, 2010 6:21am
Let me know what you guys think:

Right now it looks like a possible double pin bar in the GBP/CHF on a 4-Hour chart. Of course it looks like that now, but it would have to close like this to make me take it. What do you think?
  • #80,650
  • Nov 23, 2010 6:32am Nov 23, 2010 6:32am
My N-J demotrade of a 4H-BEOB engulfing mulitiple bars, is working out quite nicely, close could've been better (below 6450 outside that box). As usual entry on a pullback to one of the bar lows. The 30m-TF gave me my sell trigger via a BEOB @ one of the bar lows. On the daily price also closed as a BEOB.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: FF.jpg Size: 202 KB
Click to Enlarge Name: FF1.jpg Size: 202 KB
Pipcrawler
  • #80,651
  • Nov 23, 2010 6:36am Nov 23, 2010 6:36am
Quoting millions
Hi all,
New to the thread.From Ireland. What a great thread it is. Watched the guest material for a couple of months and then opened demo with Windsor Brokers for month of October. Trade only daily pinbars. Basic rules are I look for decent pinbar (location and form) and place entry 10 pips from break, stop loss 10 pips above/ below pinbar and take profit 10 pips away from first area of trouble (you will see my view on this is very conservative).For month of October I took 15 pinbars, 7 where winners, 7 didn't trigger (I cancel the trade if it doesn't...
Hi Millions. Sounds like you are off to a great start with a well-defined entry and exit. A couple of things you could do is demo a couple of different exit methods along side your current exit at FTA. I haven't tried it but a lot of folks seem to like Jarroo's, Free Trade Approach - taking partial profits and moving a stop to BE (I think). Another one is moving to Break Even (or at least reducing risk) at FTA rather than taking your profit at FTA. This would keep you from full bar losses and wiping out some winners.

Not that you should change anything, as it sounds like you're off to a great start.
  • #80,652
  • Nov 23, 2010 6:43am Nov 23, 2010 6:43am
Quoting xmzhang
My N-J demotrade of a 4H-BEOB engulfing mulitiple bars, is working out quite nicely, close could've been better (below 6450 outside that box). As usual entry on a pullback to one of the bar lows. The 30m-TF gave me my sell trigger via a BEOB @ one of the bar lows. On the daily price also closed as a BEOB.
Nice one xmz . .the Hourly BEOB looked good too.
Indicators show the past. Price Action "Indicates" the future.
  • #80,653
  • Nov 23, 2010 7:24am Nov 23, 2010 7:24am
Quoting jarroo
Nice one xmz . .the Hourly BEOB looked good too.
Thanx, its funny when you take a look at the kiwi, identical setup like the one on the N-J.
Attached Image (click to enlarge)
Click to Enlarge Name: FF.jpg Size: 220 KB
Pipcrawler
  • #80,654
  • Nov 23, 2010 7:38am Nov 23, 2010 7:38am
Oppertunities everywhere today, I need another pair of eyes:nerd:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: FF.jpg Size: 244 KB
Click to Enlarge Name: FF1.jpg Size: 196 KB
Pipcrawler
  • #80,655
  • Nov 23, 2010 7:43am Nov 23, 2010 7:43am
Quoting john225
For me the same ;-) that was the reason why i still trade demo for 2-3 years now :-o
i jumped from system to system because of 1 loss and i thauht that this system is crap and changed it i imagined that the demo account is my real account ^^
Hehehe, I remember this. Stopped backtesting whenever a bar failed, thinking it had something to do with the system. I guess I really needed those desperate times to come to my senses.

Quoting xmzhang
My N-J demotrade of a 4H-BEOB engulfing mulitiple bars, is working out quite nicely, close could've been better (below 6450 outside that box). As usual entry on a pullback to one of the bar lows. The 30m-TF gave me my sell trigger via a BEOB @ one of the bar lows. On the daily price also closed as a BEOB.
Very nice trade, xmzhang!
Thanks J16, Sam Seiden, Udine and Jacko
  • #80,656
  • Nov 23, 2010 8:53am Nov 23, 2010 8:53am
Quoting bluetrader
Hey Os, I personally don't look for a BEOB to engulf at least 2 bars (although the more the better). It's only 1 criteria in my decision making process.

My concern with the way things look right now (even if it closes below 64.00) would be that the pair is trading into traffic (see chart). Assuming the bar didn't have to contend with the current chop, I currently see 63.75 as a solid FTA. If I were to take this setup, I'd expect a reaction at this level.

Just my thoughts.

-- Danny
I took my take profit a bit lower but exactly how I saw it. Quick hitter, on a short week . xxx/jpys really broke out which is nice to see. Let's get some action before turkey day

Well done danny
Attached Image (click to enlarge)
Click to Enlarge Name: a3.gif Size: 21 KB
  • #80,657
  • Nov 23, 2010 9:02am Nov 23, 2010 9:02am
Quoting mbqb11
I took my take profit a bit lower but exactly how I saw it. Quick hitter, on a short week . xxx/jpys really broke out which is nice to see. Let's get some action before turkey day

Well done danny
Nice
But one question why you tooked this trade i thought you donīt take trades in traffic?
  • #80,658
  • Nov 23, 2010 9:05am Nov 23, 2010 9:05am
Quoting john225
Nice
But one question why you tooked this trade i thought you donīt take trades in traffic?
Hey John

I take trades everywhere as long as it is a high probability setup. B/c of the box traffic/short week/recent slower action, I used the traffic to help manage this trade to the FTA and just flat took profit

Best
Mike
  • #80,659
  • Nov 23, 2010 9:13am Nov 23, 2010 9:13am
Quoting mbqb11
Hey John

I take trades everywhere as long as it is a high probability setup. B/c of the box traffic/short week/recent slower action, I used the traffic to help manage this trade to the FTA and just flat took profit

Best
Mike
Ok thanks
What does this b/c means?
  • #80,660
  • Nov 23, 2010 9:15am Nov 23, 2010 9:15am
Quoting john225
Ok thanks
What does this b/c means?
Sorry John, b/c = because
61 traders viewing now