james16 Chart Thread | Page 4092 | 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

  • #81,821
  • Dec 7, 2010 2:20pm Dec 7, 2010 2:20pm
Quoting Adilius07
Exploring Oanda, that doesn't even look like EUR/USD in my other MT4 platforms, I thought we had double inside bars on daily.... still ok this?
Oanda daily bar closes at 12am est which is 5-7 hours later then most platforms. This will greatly change the look of your price aggregation

Mike
  • #81,822
  • Dec 7, 2010 2:24pm Dec 7, 2010 2:24pm
Quoting Adilius07
Exploring Oanda, that doesn't even look like EUR/USD in my other MT4 platforms, I thought we had double inside bars on daily.... still ok this?
Oanda,s charts are crappy! i have an account with them but i trade off mt4 charts. i pretty much ignore there charts( although you can get some trades off there 3h TF)

it does show price before any other broker after the weekend though(for some reason??)so its good for that

EDIT: and what Mike said lol
PATIENCE... DISCIPLINE
  • #81,823
  • Dec 7, 2010 2:27pm Dec 7, 2010 2:27pm
Quoting mbqb11
Oanda daily bar closes at 12am est which is 5-7 hours later then most platforms. This will greatly change the look of your price aggregation

Mike
Ohh, so then I will not use their charting at all. So I will have to basically follow my MT4 demo as always and switch to my Oanda for order entry screen only. I would ignore their chart window so to not make myself confused... if that is doable maybe I should go for them, this way I could start my live with 0.5% easily.
  • #81,824
  • Dec 7, 2010 2:29pm Dec 7, 2010 2:29pm
Quoting bluetrader
Hi Jay,

Your are correct, that is technically a dblhc. Unfortunately, it looks to be in a bad location. Generally these are best played at swing lows. This 2 bar setup seems to be in a choppy area. The only confluence it has going for it is the bounce off the round number (130.00).

Another question you want to ask yourself after seeing a bar setup is: "Where is it likely to go?" These questions will help you map out whether the trade is worth pursuing and if so, what your trade management will look like.

Great observation, and generally...
Thanks man I really appreciate your help! That was some kind of a little eye opener for me.
  • #81,825
  • Dec 7, 2010 2:29pm Dec 7, 2010 2:29pm
Quoting g_j_hook@yah
Oanda,s charts are crappy! i have an account with them but i trade off mt4 charts. i pretty much ignore there charts( although you can get some trades off there 3h TF)

it does show price before any other broker after the weekend though(for some reason??)so its good for that

EDIT: and what Mike said lol

Do you think they are reliable in general? I can get used to trade like you of MT4, the most important aspect is the safety of our funds and prompt withdrawls, honest dealing etc...
  • #81,826
  • Dec 7, 2010 2:30pm Dec 7, 2010 2:30pm
Quoting mbqb11
Great trade, I wish I was a bit more aggressive on that one. Failing momentum to the topside. I have this one on tonight's watch list. 1400 specifically
Happy birthday Mike ;]

It is nice looking setup which is another confluence to those i have my eyes on. DJ and SP500 are starting to look good on the short side now with aud/usd and nzd/usd being at the daily/weekly resistance area. Nice beob at strong res on nzd/usd with tomorrow interest rates anouncement could be a good entry to the monthly pb which didnt break but it is worth it imo. Good luck!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NU_d1.png Size: 44 KB
Click to Enlarge Name: SP500_d1.png Size: 40 KB
  • #81,827
  • Dec 7, 2010 2:31pm Dec 7, 2010 2:31pm
Quoting supremeChaos
are u talking about the BEOB Thierry traded?

that BEOB was indeed headed into/right at an immediate potential trouble area (your blue box) but as u can see price broke down with zero to minimal drawdown....
Hi SC,

Yeah it had a nice down momentum, but at the close it seemed it didn't, well if we have a close below 1400 we could have an entry
Trade Smart
  • #81,828
  • Dec 7, 2010 2:36pm Dec 7, 2010 2:36pm
Hi all

Thanks be to all who contributr to this great thread. Just a question about ppzs - how often do you leave them on your chart, eg do weekly ppz stay on for a few months, daily for a few weeks etc or does it just depend on the actual chart and its patterns?

thanks

kal
  • #81,829
  • Dec 7, 2010 2:39pm Dec 7, 2010 2:39pm
Quoting Adilius07
Do you think they are reliable in general? I can get used to trade like you of MT4, the most important aspect is the safety of our funds and prompt withdrawls, honest dealing etc...
yeah, in my experience they have been very good, no slippage no waiting for money (in or out)good service, i chose them for the same reasons as yourself, namely for the security of my funds not for small spreads or 200 buck offers.i did quite a lot of research before i opened an account with them and they easily came out on top. and they do have good spreads for most pairs btw

dont take my word for it though...
jon
PATIENCE... DISCIPLINE
  • #81,830
  • Dec 7, 2010 2:39pm Dec 7, 2010 2:39pm
Quoting g_j_hook@yah
Oanda,s charts are crappy! i have an account with them but i trade off mt4 charts. i pretty much ignore there charts( although you can get some trades off there 3h TF)

it does show price before any other broker after the weekend though(for some reason??)so its good for that

EDIT: and what Mike said lol
It's because Oanda do not close over the weekend like traditional brokers.
  • #81,831
  • Dec 7, 2010 2:44pm Dec 7, 2010 2:44pm
Guys

Just thought I could have phrased last question better - How often do you change //update the ppz zones on your charts? I know this(ppz) is one of the main aspects of the J16 approach so any advice most welcome from u guys.
  • #81,832
  • Dec 7, 2010 2:45pm Dec 7, 2010 2:45pm
Quoting g_j_hook@yah
yeah, in my experience they have been very good, no slippage no waiting for money (in or out)good service, i chose them for the same reasons as yourself, namely for the security of my funds not for small spreads or 200 buck offers.i did quite a lot of research before i opened an account with them and they easily came out on top. and they do have good spreads for most pairs btw

dont take my word for it though...
jon
Ok, thanks Jon, I am doing my research now. The deposit will not be big, but still I want the best possible service for it Thanks.
  • #81,833
  • Dec 7, 2010 2:47pm Dec 7, 2010 2:47pm
Quoting bluetrader
Hey lallous, it's hard to see from your chart what bar you took. It seems like the only valid setup is a BUOB that closed below 130.00. Although this one made pips, I wouldn't have entered where you did because the move may have been exhausted by then. On 4 hour chart, a 10-15 pip buffer above the bar high seems reasonable to me.


It can be very confusing, don't worry. It takes time to distinguish important areas. I'm no expert myself, but it has gotten easier with time. Just be patient, we are all here to learn.


You should consider highs...
Helps a lot

Thanks Danny
  • #81,834
  • Dec 7, 2010 2:51pm Dec 7, 2010 2:51pm
Quoting lovejoy80
It's because Oanda do not close over the weekend like traditional brokers.
ahha thanx.
PATIENCE... DISCIPLINE
  • #81,835
  • Edited 3:03pm Dec 7, 2010 2:53pm | Edited 3:03pm
Quoting Osman
...
Yeah it had a nice down momentum, but at the close it seemed it didn't, well if we have a close below 1400 we could have an entry
aha...u want a very authoritative close on that BEOB.... u are really picky

Quoting Kalbar
..
Just thought I could have phrased last question better - How often do you change //update the ppz zones on your charts? I know this(ppz) is one of the main aspects of the J16 approach so any advice most welcome from u guys.
Hello Kalbar,
i think, it depends on price action & price environment (trending/ranging market).

for example, if price is ranging, & is respecting PPZ levels above & below, then i dont need to update my PPZs a lot.
if price is trending/running away, i have to update PPZs more, because price is saying good bye to my current PPZs

also depends on how much time u devote on PPZ plotting (that is, if u plot PPZs only on nearby areas, or do u also plot PPZs +/-500-1000pips above/below current price)

just a quick post before i
  • #81,836
  • Dec 7, 2010 4:54pm Dec 7, 2010 4:54pm
Quoting supremeChaos
aha...u want a very authoritative close on that BEOB.... u are really picky


Hello Kalbar,
i think, it depends on price action & price environment (trending/ranging market).

for example, if price is ranging, & is respecting PPZ levels above & below, then i dont need to update my PPZs a lot.
if price is trending/running away, i have to update PPZs more, because price is saying good bye to my current PPZs

also depends on how much time u devote on PPZ plotting (that is, if u plot PPZs only on nearby areas, or do u also plot PPZs +/-500-1000pips...
Hi seeking

Thanks for your input. What you say makes good sense. Like everything to do with trading I suppose the knowledge comes with experience. Will have to get some practice with my charts but thanks for your input on ppz. Enjoy your zzz's!

kal
  • #81,837
  • Dec 7, 2010 5:44pm Dec 7, 2010 5:44pm
After more updates of nzdusd ,yesterday my long trade from 0.7520 closed(SL hit) and as I said in my post 81361 I'm looking for short at confluence of ppz, cluster fibbo and left eye monthly's pin.Today beob at this level.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.gif Size: 35 KB
Nothing personal,just business
  • #81,838
  • Dec 7, 2010 6:37pm Dec 7, 2010 6:37pm
Just wanted to add my happy birthday wishes to Mike! Thank you for your warm welcome to this thread and for all the work you put in explaining this method to us struggling newbies. You (and others - I won't try to list because I'm sure to miss someone, but we all know who you are!) have made this a pretty amazing place to hang out.

May happy returns!

--Dave
  • #81,839
  • Dec 7, 2010 7:40pm Dec 7, 2010 7:40pm
Quoting g_j_hook@yah
us/yen looks like a good daily BUOB if it closes like it is now??just need it to close above 83 with a little conviction...

GJ....I saw that BUEOB on USD/JPY this morning while checking the charts.

But, if we look at the weekly, we can see a BEOB and the flip area is right at the RN. It's a pass for me but would appreciate your input on my decision.
And indeed Blue's.

Thanks in advance.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 192 KB
Click to Enlarge Name: d.jpg Size: 196 KB
  • #81,840
  • Dec 7, 2010 7:51pm Dec 7, 2010 7:51pm
Quoting Adilius07
Ohh, so then I will not use their charting at all. So I will have to basically follow my MT4 demo as always and switch to my Oanda for order entry screen only. I would ignore their chart window so to not make myself confused... if that is doable maybe I should go for them, this way I could start my live with 0.5% easily.

Adi, do you really need the added hassle of using two platforms to trade.

I would try and find a broker that has a happy medium between them all.
58 traders viewing now