james16 Chart Thread | Page 4088 | 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

  • #81,741
  • Dec 7, 2010 1:10am Dec 7, 2010 1:10am
Quoting antgal23
Hey Pin

it can be argued either way i think . there was a clear rejection off the 1.3000 level (not giving us the break) and y'day we had the restest of the 1.3300 and 1.3250 levels.

If price had tested the 1.3200 and a 1.3280 close then I wouldnt be in the trade. The NY session kept price around the 1.3275 with a 1.3308 close.

The 1.33000 - 1.3450 levels for me show there is no directional bias re: the sentiment. What I want to see happen is a strong push to 1.3400 with a 1.3375 ish close.

Lets see what London throughs at me!

So, it is the rejection area that got your attention, I can understand that.

Thanks for the detailed explanation Antgal.
  • #81,742
  • Dec 7, 2010 1:16am Dec 7, 2010 1:16am
Your welcome Pin!

How s your week going man?
  • #81,743
  • Dec 7, 2010 1:17am Dec 7, 2010 1:17am
Quoting antgal23
Hey Pin

it can be argued either way i think . there was a clear rejection off the 1.3000 level (not giving us the break) and y'day we had the restest of the 1.3300 and 1.3250 levels.

If price had tested the 1.3200 and a 1.3280 close then I wouldnt be in the trade. The NY session kept price around the 1.3275 with a 1.3308 close.

The 1.33000 - 1.3450 levels for me show there is no directional bias re: the sentiment. What I want to see happen is a strong push to 1.3400 with a 1.3375 ish close.

Lets see what London throughs at me!
Hello Antgal, but you said it was the weekly Pin that caught your attention and you started the aggressive trade management on lower TF.
However if that Pin will never be triggered it would be just invalid Pin.
I.e. not Pin.
  • #81,744
  • Dec 7, 2010 1:23am Dec 7, 2010 1:23am
Quoting antgal23
Your welcome Pin!

How s your week going man?

Not so good, got a terrible cold.

Got some possibly nice trades setup though.

And you?
  • #81,745
  • Dec 7, 2010 1:34am Dec 7, 2010 1:34am
Hi Adillius

There are lots of things which caught my attention - primarily the weekly pin with the 365 ma, clear rejection of 1.30000 VBRN and the space to go i.e the break of 1.3450 to 1.36000 (low of the bar prior to the monthly BEOB)

Based on the idea that price retraces to the prior eye when taking a PB (in this case the weekly 1.3200) I spent y'day waiting for this.

Although I had planned this trade on Sunday with a 1.3320 entry I decided to see what the Asia session did before putting on a Pending Order. As it was bearish and with the 1.3200 and 1.3300 levels the next clear target I waited to see what London and NY did. NY absorbed the bearish pressure and I knew then that a 1.3300 + close it would be a good signal. I went to bed with price in NY at 1.3275 ish so I put on a Pending Order for 1.3320.

I used the Daily just to give me more info and to get a better story really but the reason I took the trade (the weekly) is still clear.

I am totally open for price to hang around 1.3300 for the rest of the week. I would understand this as orders need to build up for price to go in any strong direction.

I hope this is clear

Anthony
  • #81,746
  • Dec 7, 2010 1:37am Dec 7, 2010 1:37am
A cold!

I hope u get better

I am good, I am down to one trade a week now so not chasing the markets
  • #81,747
  • Dec 7, 2010 2:22am Dec 7, 2010 2:22am
I have an off topic question. Could somebody explain please.
FxPro and Alpari have different daily bar closes right? Then how come daily bars are identical? I don't understand... Or Alpari now has the same closing time as FxPro?
  • #81,748
  • Edited 2:45am Dec 7, 2010 2:24am | Edited 2:45am
Quoting jarroo
On the Hourly TF, I look for strong PPZ levels on the Higher time frames.

Once located, what is that PPZ level currently act as? . meaning, is it acting as Support or Resistance because of how Price broke through it and how it closed.

We know from the Weekly and 2 Day charts that .9850 is a PPZ level currently looking to act as Resistance because Price broke through it as previous Support.

We now wait it see if Price can make it back or retrace to this .9850 level and see if any bearish PA can confirm it as acting as Resistance.

Price...
Awesome explanation Jim From charts like this i have learned most of what i know now (not that i know much, but i have learned a lot from them). Switching between different timeframes is great-you see the whole story. I remember when i started trading, i traded the 5m-1h timeframes (if think about it now it was pretty limited) using only trendline trading with no clue about what PA,PPZ,RN, meansSurprisingly i didnt blow that many demo accounts that i think i should, if i think about it now,... LoL
  • #81,749
  • Dec 7, 2010 2:28am Dec 7, 2010 2:28am
Quoting Adilius07
I have an off topic question. Could somebody explain please.
FxPro and Alpari have different daily bar closes right? Then how come daily bars are identical? I don't understand... Or Alpari now has the same closing time as FxPro?
also the IBFX has different daily bar close than FxPro. I have noticed that IBFX closes two hours later than FxPro. But all in all they are showing the same price action just the bar forms are little different. Just like the h4. The same bar closes on all platform are on the: 1m,5m,15m,1h,weekly,monthly...
  • #81,750
  • Dec 7, 2010 2:45am Dec 7, 2010 2:45am
Quoting ppfx
also the IBFX has different daily bar close than FxPro. I have noticed that IBFX closes two hours later than FxPro. But all in all they are showing the same price action just the bar forms are little different. Just like the h4. The same bar closes on all platform are on the: 1m,5m,15m,1h,weekly,monthly...
I was always thinking that FxPro, Alpari, IBFX have 1 hour difference in daily bar closes. But as I see my Alpari is absolutely identical to my FxPro now. I am checking different pairs, all look exactly the same.
  • #81,751
  • Dec 7, 2010 4:00am Dec 7, 2010 4:00am
Quoting Pinbar
XMZ, thanks for your input on EU. It is interesting how different people can be bullish & bearish on the same PA. I guess this is the subjectivity of the business.


What is your opinion of the Monthly chart, we have that large BEOB, however, as we know, often price will retrace to and test the previous bar low of a BEOB. So, in a sense we have a Monthly bearish PA which price could well retrace 300 pips to test the previous bar low, and we have a weekly bullish PB which is in the same direction that the retrace of the monthly BEOB could go in.

Sorry...
Hey PB, I understand your question. The previous bar low of that BEOB would be quite logical from a [support--price breaks through--revisit support now reistance] point of view. But only if price doesn't encounter a stronger resistance pricelevel (PPZ's, BRN's) on its way up to that previous bar low, which then could stall price before it has revisited that previous bar low. For instance the BRN/PPZ @ 13500 looks pretty strong, that pricelevel provided resistance way back in 1995. So it really depends on the amount of space between the low/close of that BEOB and the previous bar low which is as you already mentioned approx 300 pips. If there's more space involved in the pullback path, then there is more chance that path will contain other potential S/R levels running through it, where price might stall. As for now I still consider the 13450 as my keylevel, btw price stopped me out on my remaining position @ BEPrice stalled at pre-NPF pricelevels before reversing and didn't revisited the left eye of the weekly PB.
Pipcrawler
  • #81,752
  • Dec 7, 2010 4:10am Dec 7, 2010 4:10am
Quoting xmzhang
Hey PB, I understand your question. The previous bar low of that BEOB would be quite logical from a [support--price breaks through--revisit support now reistance] point of view. But only if price doesn't encounter a stronger resistance pricelevel (PPZ's, BRN's) on its way up to that previous bar low, which then could stall price before it has revisited that previous bar low. For instance the BRN/PPZ @ 13500 looks pretty strong, that pricelevel provided resistance way back in 1995. So it really depends on the amount of space between the low/close...

Too bad, you got stopped out X.
Still, I am sure you are plenty ahead already.

Thanks for the explanation, yes, I am thinking the 1.3500 will be a make or break area for either PA setup.
  • #81,753
  • Dec 7, 2010 4:11am Dec 7, 2010 4:11am
Quoting decentchap
May I kindly ask if you spreadbet with them or do they do actual forex trading? I have a spreadbet account.
With IG I spreadbet, I also have an account with a regular forex broker.
Pipcrawler
  • #81,754
  • Edited 5:03am Dec 7, 2010 4:38am | Edited 5:03am
Quoting g_j_hook@yah
lol ya know...it goes from over spent to under funded...?...ah, no wait a minute...that would be my bank account!! lol
I hear ya jon .. . lol

Quoting jarroo
Very nice jon . .the 111.00 was a higher TF PPZ looking to act as Resistance . . .classic . .
I shouldn't have said "looking to act" as Resistance because the 111.00 was already acting as Resistance on your Hourly BEOB.
Attached Image (click to enlarge)
Click to Enlarge Name: ej07.jpg Size: 111 KB
Indicators show the past. Price Action "Indicates" the future.
  • #81,755
  • Dec 7, 2010 4:58am Dec 7, 2010 4:58am
Quoting ppfx
Awesome explanation Jim From charts like this i have learned most of what i know now (not that i know much, but i have learned a lot from them). Switching between different timeframes is great-you see the whole story. I remember when i started trading, i traded the 5m-1h timeframes (if think about it now it was pretty limited) using only trendline trading with no clue about what PA,PPZ,RN, meansSurprisingly i didnt blow that many demo accounts that i think i should, if i think about it now,... LoL

Thanks ppfx . ..yeah I started on the 15min -5min way back when. Thank God I found this thread.

The Gbp/Usd had some nice PPZ action around th 1.5650. Very clear price flips at this level on the Daily TF.

The 50% retracement offered some good confluence but no clear, strong PA was presented on the 4 Hour and Hourly. Although a tight S/L, touch trade could have taken . .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu07d.jpg Size: 114 KB
Click to Enlarge Name: gu0744.jpg Size: 112 KB
Click to Enlarge Name: gu074411.jpg Size: 118 KB
Indicators show the past. Price Action "Indicates" the future.
  • #81,756
  • Dec 7, 2010 5:05am Dec 7, 2010 5:05am
Quoting Adilius07
I was always thinking that FxPro, Alpari, IBFX have 1 hour difference in daily bar closes. But as I see my Alpari is absolutely identical to my FxPro now. I am checking different pairs, all look exactly the same.

Hey Adi, I just downloaded an Alpari UK demo, look at the spread on EU.

11 pips for EU, that is crazy..!
And it is not because this is a 5 digit broker because it just dropped to 8 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 46 KB
  • #81,757
  • Dec 7, 2010 5:15am Dec 7, 2010 5:15am
Happy Birthday Mike . . . . . . .

Your getting to be a real old timer . . .lol . . . .yeah, right . .
Indicators show the past. Price Action "Indicates" the future.
  • #81,758
  • Dec 7, 2010 5:21am Dec 7, 2010 5:21am
Quoting Pinbar
Hey Adi, I just downloaded an Alpari UK demo, look at the spread on EU.

11 pips for EU, that is crazy..!
And it is not because this is a 5 digit broker because it just dropped to 8 pips.
Hey Pinbar, I compared two: FXPro and Alpari, Alpari looks even better for spreads. Top pic is Fxpro, bottom is Alpari.

There is another problem I noticed with Alpari there minimum lot is 0.10 for Classic Account (where they have CFD's) and for CFD I would have to buy minimum of 20 CFD per trade too... So it is too expensive for my planned 3K account. I would have to go with their Micro - but all it's got is 29 FX pairs (in this case Oanda looks as better choice).

However, I just hate Oanda's platform, looks so NOT serious to me, so Foreign maybe I just need to get used to it...

Eh.. I really wanted to have CFD's but I guess my 3k is just not enough to trade them, period...
Attached Image (click to enlarge)
Click to Enlarge Name: FXPro Alpari.jpg Size: 138 KB
  • #81,759
  • Dec 7, 2010 5:24am Dec 7, 2010 5:24am
Dear Pinbar, could you share an indicator of round numbers?
  • #81,760
  • Dec 7, 2010 5:25am Dec 7, 2010 5:25am
Happy Birthday Mike..You Handsome devil.

May the chicks be lined up at your apartment tonight, with presents and goodies.
Attached Image
206 traders viewing now