james16 Chart Thread | Page 4297 | 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

  • #85,921
  • Jan 15, 2011 11:55am Jan 15, 2011 11:55am
Quoting vasmiza
My first post here on the thread. Have decided to read the whole thread, up to pg 150 still long way to go. Man this is gonna take a whole. Hopefully it pays off.I seriously need to get PA embedded into my brain.

Attached are a few setups for Mon.

With EUR/USD we do have had significant bullish momentum and the V formation as discussed, but there is also significant confluence. Still requires confirmation for entry. Mike what would you rate this setup??

Attachment

Similar setup on EUR/CAD, Mike just wondering why the RN is so important...
Hey Harry

Welcome bud glad to see you posting. Keep going through the thread slow things get brighter slowly .

Here would be my thoughts on both charts. Again always remember this doesn't make your analysis less valid just how I have put the pieces together.

Eur/usd - a neutral bar more then a pinbar. Notice that the wicks have about equal length and the open and close are near the middle. This to me doesn't give direction as much as indecision. I would stay far away from this one from the daily bar friday.

eur/cad - looks like your broker closed a bit early(some close earlier on fridays but the market is still open since it is a 24/7 market). Price didn't close as a pin(see my chart). If it did close as yours shown my advice would still be the same. Price barely closed within the prior bar and it is coming off a very strong bullish bar. To me not enough strength there to short. We had a sharp run down followed by a sharp run up. So I wouldn't want to be shorting back into that.

Both nearly formed buobs on the weekly so I will stand aside and see what next week brings

Again welcome hope this helps
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 20 KB
  • #85,922
  • Jan 15, 2011 11:56am Jan 15, 2011 11:56am
Quoting vasmiza
I've just been looking at GBP/CHF; there was a similar PB formation in October 2010. I guess you need to look the PB in the context of previous price action. If there is a strong upward trend, you need a PB with a long tail to break such a strong trend. In both these cases the the PB formation in the relative context does not have much credibility. You cannot expect these PinBars to break the bullish momentum.

Check it out below.

Attachment
yes very glad to see you recognizing this. Probably the first pitfall for many new price action traders.

Mike
  • #85,923
  • Jan 15, 2011 12:01pm Jan 15, 2011 12:01pm
Quoting stoli7188
Haven't posted on this thread in a long time but wanted to pop in since my last post saying I was taking time to work on my trading (http://www.forexfactory.com/showpost...ostcount=39053) and just say thank you.

Been on the trading journey for close to 4 years now....
Hey Stoli

Awesome man best of luck at the training

Keep us updated!

Mike
  • #85,924
  • Jan 15, 2011 12:02pm Jan 15, 2011 12:02pm
Quoting Fxnumen
Hi all,

Please Mike, Ghous, Jarro, Adi, Pin and anybody else comment and criticize or approve this setup.

Pros

 

  1. Triple top
  2. Off 38.2(Daily) and 38.2(weekly) fib
  3. Off 365 ema (green)
  4. Pierced 1.34000(BRN)
  5. Space

Cons

  1. Bullish Close
  2. Small Nose compared to the big bars preceding it.

Would you take this trade or not. Please give your reasons.

Thanks a bunch

Hey Numen

I just posted my view on this one here

http://www.forexfactory.com/showpost...ostcount=85942
Hope it helps
Mike
  • #85,925
  • Jan 15, 2011 12:04pm Jan 15, 2011 12:04pm
Quoting g_j_hook@yah
this has been covered pretty well over the last few pages. check out ghous' recent posts on it.
Mike(mbqb11) also discussed this pair recently
General consensus is that it is an easy pass. way too small after that strong move up.

jon
looks like we all tag teamed this one

Thanks J

Mike
  • #85,926
  • Edited 12:25pm Jan 15, 2011 12:11pm | Edited 12:25pm
I wonder is this daily BUEOB strong enough to make this entire move?

I mean, it's a strong bar with what I'm told is strong support from the 365ema, and not too much traffic at all between here and where I'd like it to go.

It breached slightly a weekly trendline, but closed inside it.

It has no fib confluences I can see.

I'm sure it has the strength to make it past the traffic in the rectangle and on to 75.94.

77 looks possible too, perhaps.
The weekly bar, although closing lower than the open, looks a bit bullish to me.

What do you guys think generally, and specifically about the trendline breach?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily.jpg Size: 113 KB
Click to Enlarge Name: weekly.jpg Size: 98 KB
  • #85,927
  • Jan 15, 2011 12:30pm Jan 15, 2011 12:30pm
Quoting Dan Gilbert
I don't like any of the bearish euro signals we got on friday...

the only one that had a chance was EUR/CHF, and it didn't close right.

we continue to wait
hey Dan, me too, not on euro or anything else. dont see anything atm to trade on monday, except possibly the weekly BEOBs on gold n silver.

jon
PATIENCE... DISCIPLINE
  • #85,928
  • Jan 15, 2011 12:41pm Jan 15, 2011 12:41pm
Quoting mbqb11
looks like we all tag teamed this one

Thanks J

Mike
lol, i doubt anyone could get a faster more detailed response on any thread on any site anywhere!! lol
The J16 thread rocks

jon
PATIENCE... DISCIPLINE
  • #85,929
  • Jan 15, 2011 12:50pm Jan 15, 2011 12:50pm
Anyone knows where i can get the FXDD mt4 with build 226? The problem is that metatrader patched to 228 i think and i can´t make it work on my mac.

BTW: If anyone wants to know i made it with 226 PM me ;-)
  • #85,930
  • Jan 15, 2011 12:52pm Jan 15, 2011 12:52pm
Inserted Video
  • #85,931
  • Jan 15, 2011 1:38pm Jan 15, 2011 1:38pm
Quoting mbqb11
Hey Dean

My issue is that the run up is so strong. So I don't want to fight that huge bullish strength with a small bearish bar. To me small bars fighting strong moves are some of the biggest trouble bars out there. So I prefer to wait for a more clear story and bar then shorting one like that.

Best
Mike
Mike,

That's very clear. Thanks for your response. I appreciate it.

Dean
  • #85,932
  • Jan 15, 2011 2:10pm Jan 15, 2011 2:10pm
Quoting Atc
http://www.youtube.com/watch?feature...&v=VWAIjYs9Lws
Eek!
I believe . . .
  • #85,933
  • Jan 15, 2011 3:40pm Jan 15, 2011 3:40pm
Quoting Atc
http://www.youtube.com/watch?feature...&v=VWAIjYs9Lws

Next week's analyisis .


Inserted Video
Indicators show the past. Price Action "Indicates" the future.
  • #85,934
  • Jan 15, 2011 4:00pm Jan 15, 2011 4:00pm
I do hope that the bear wasn't punished for being a bear
  • #85,935
  • Jan 15, 2011 6:37pm Jan 15, 2011 6:37pm
First of all recent post who wonder where Euro going to go?

On firday there was a nice 45 min Pin bar and that did what it supposed to for a quick 50pips profit.

Daily finishing bar is not a strong pin bar even if it is .!!!
Possible we may have a pull back might be very brief or might have been allready on friday .

PLEASE LOOK AT YOUR WEEKLY CHART AND NOTICE A VERY NAUGHTY LOOKING BULLISH BAR.!!!!

So this could easily take us to the next zone up where 1.38ish level is the next resistance where weekly meeting 150 EMA for me . And that is going to be very interesting area too watch . So this bar on friday as a bar easy pass.

If there is a break to the upside pull back to this support zone is a nice area for bullish entry targetting above mentioned leves and space looks good too and it might give MIKE his favorite fruit cherry to pick up ))

Awsome week to trade I think ....))

Cheers

Vito
Attached Image (click to enlarge)
Click to Enlarge Name: euro usdseconweekjan.gif Size: 53 KB
  • #85,936
  • Jan 15, 2011 7:08pm Jan 15, 2011 7:08pm
Quoting Fxnumen
Hi all,

Please Mike, Ghous, Jarro, Adi, Pin and anybody else comment and criticize or approve this setup.

Pros

 

  1. Triple top
  2. Off 38.2(Daily) and 38.2(weekly) fib
  3. Off 365 ema (green)
  4. Pierced 1.34000(BRN)
  5. Space

Cons

  1. Bullish Close
  2. Small Nose compared to the big bars preceding it.

Would you take this trade or not. Please give your reasons.

Thanks a bunch


Sorry, I must have missed this one, I see mike mentioned the strong uptrend which I also totally agree with. I would also like to add, that this bar size compared to the bullish bars is not convincing. Also, I am not sure if that bar closed like that on your chart but, if it did, the close of this bar is outside the eye of the previous bar and nearly half way up the bar. I don't like this in a bearish PA setup.
Attached Image
  • #85,937
  • Jan 15, 2011 7:17pm Jan 15, 2011 7:17pm
Quoting ghous
Eek!
That is what they get for such an inhumane sport.
People paying to see an animal get slaughtered, applauding.
Just Macho rubbish to me.
  • #85,938
  • Jan 15, 2011 10:22pm Jan 15, 2011 10:22pm
Quoting Pinbar
That is what they get for such an inhumane sport.
People paying to see an animal get slaughtered, applauding.
Just Macho rubbish to me.
Hi PB,

Im from Spain and I totally agree with you, they say its a culture or a tourist attraction but for me its all BS.. Fortunately they have banned it from many cities and just few of them are able or wishing to offer this "sport" !!

Few years.. it will be history.

Os.
Trade Smart
  • #85,939
  • Jan 15, 2011 11:06pm Jan 15, 2011 11:06pm
Quoting Osman
Hi PB,

Im from Spain and I totally agree with you, they say its a culture or a tourist attraction but for me its all BS.. Fortunately they have banned it from many cities and just few of them are able or wishing to offer this "sport" !!

Few years.. it will be history.

Os.

That is good to hear OS.

I think humans create enough blood sports with the wars they start, we don't need anymore. We don't need any!
  • #85,940
  • Edited 1:13am Jan 16, 2011 12:33am | Edited 1:13am
Hey guys,

what do you think of this weekly setup below on the EUR/GBP? After this DBHLC we have had a good retrace to 0.618 Fib. Looks like a perfect time to enter short in the direction of the trend. The only problem with this DBHLC is that we are going into an area of support + we also have the 200 EMA as support [this is an area of congestion].

What would you guys rate this setup??

Attached Image (click to enlarge)
Click to Enlarge Name: 4.jpg Size: 108 KB


The daily seems quite good aswell. Nice pin formation. Is there something wrong with me or am I seeing pins everywhere I look? Ghous what would you rate this setup compared to the previous ones that we discussed earlier? We seem to have the weekly in our favour this time around.

Attached Image (click to enlarge)
Click to Enlarge Name: 5.jpg Size: 103 KB


Cheers,

Harry
244 traders viewing now