james16 Chart Thread | Page 4416 | 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

  • #88,301
  • Feb 7, 2011 8:52am Feb 7, 2011 8:52am
Quoting Fxpat
Heya everybody. Ive been actively watching this thread for a few years now with out ever signing up as havent ever felt need to, however in last few months have been thinking about actually contributing to the best trading info on the net amd being apart of it.

Ill say it again even though they get told everyday: Mike, Ghous, Jarroo etc etc thank you and all the other seniors who know who they are, but also thanks to the guys that ask the questions even the questions you may think are silly as if youre thinking them chances are some one else lurking...
Welcome Pat(from the shadows )

Glad to have you posting now

Mike
  • #88,302
  • Feb 7, 2011 8:54am Feb 7, 2011 8:54am
Quoting Fxpat
I have entered of 1hr pin and will scale in some more if it ends up a nice pin/OB on 4hr chart in 40 mins (my feed).

Comments?
Hey Pat

Would be careful with the size of that 1hr bar vs the strong up move we saw. But I am guessing you jumped ship when we got that huge 1hr pin the other way for probably b/e or so?

Best
Mike
  • #88,303
  • Feb 7, 2011 9:15am Feb 7, 2011 9:15am
Quoting xmzhang
Any ideas what cable is up to ?
I'll be watching 1.6
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 19 KB
  • #88,304
  • Feb 7, 2011 9:39am Feb 7, 2011 9:39am
Where is the best place to find the trend on daily set-ups.
Is the best indication on the daily chart, the weekly, or the monthly. Perhaps a combination of all.

I have always struggled with this. If the daily trend is up, but the weekly and motnly are down, which trend is best to rely on?

Any help appreciated. Perhaps a MT4 indicator could help??

Thanks.
"Fail to prepare, prepare to fail."
  • #88,305
  • Feb 7, 2011 9:44am Feb 7, 2011 9:44am
Quoting packhorse
Where is the best place to find the trend on daily set-ups.
Is the best indication on the daily chart, the weekly, or the monthly. Perhaps a combination of all.

I have always struggled with this. If the daily trend is up, but the weekly and motnly are down, which trend is best to rely on?

Any help appreciated. Perhaps a MT4 indicator could help??

Thanks.
Hey Pack

I think over thinking the trend can lead to analysis paralysis. If the daily trend is up and you are looking at the daily chart then focus on that daily trend since it is in context to that timeframe and probably a trade on the daily. If 4hr is down then it's in context to the 4hr. This is what I do, keeps it simple for me.

Best
MIke
  • #88,306
  • Feb 7, 2011 9:49am Feb 7, 2011 9:49am
Thanks Mike. Helpful as always.

Greetings from the UK by the way.

Glynn
"Fail to prepare, prepare to fail."
  • #88,307
  • Feb 7, 2011 10:26am Feb 7, 2011 10:26am
Quoting mbqb11
I'll be watching 1.6
throw me on that waiting list for my next try.
Many choose unhappiness over uncertainty.
  • #88,308
  • Feb 7, 2011 1:02pm Feb 7, 2011 1:02pm
Quoting Fxpat
Heya everybody. Ive been actively watching this thread for a few years now with out ever signing up as havent ever felt need to, however in last few months have been thinking about actually contributing to the best trading info on the net amd being apart of it.

Ill say it again even though they get told everyday: Mike, Ghous, Jarroo etc etc thank you and all the other seniors who know who they are, but also thanks to the guys that ask the questions even the questions you may think are silly as if youre thinking them chances are some one else lurking...
Nice to see you post Pat.

Always great to see new faces add to the group.

Let's get to see some Pat trades then shall we?



g.
I believe . . .
  • #88,309
  • Feb 7, 2011 1:29pm Feb 7, 2011 1:29pm
Hi traders.

A pin bar forming on daily GBPCHF.

If it will close below under 1.54 we would have:
- a pinbar at a PPZ
- divergence on MACD
- a trade with the trend
- 150 ema "touch"

See my possible target below.

It could be a very good setup. Any opinion?
Attached Image (click to enlarge)
Click to Enlarge Name: gc.gif Size: 20 KB
  • #88,310
  • Feb 7, 2011 2:14pm Feb 7, 2011 2:14pm
any concerns about trading into 5200? seems to have acted as good SR...just asking

Quoting bakko85
Hi traders.

A pin bar forming on daily GBPCHF.

If it will close below under 1.54 we would have:
- a pinbar at a PPZ
- divergence on MACD
- a trade with the trend
- 150 ema "touch"

See my possible target below.

It could be a very good setup. Any opinion?
  • #88,311
  • Feb 7, 2011 2:18pm Feb 7, 2011 2:18pm
Would any of those who touch trade have taken this?
1.35 BRN,
150 EMA
1st Test since we broke
consolidation box on 4h before we broke 1.35 resistance (i would have been looking on 4h for entry.)
38 Fib sits just under 1.35 for this leg up too.
I don't touch trade but i have been looking at them and liked the confluences.

I would be aiming for the bar lows near 1.3560-70 at FTA and manage from there
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 119 KB
  • #88,312
  • Feb 7, 2011 2:24pm Feb 7, 2011 2:24pm
Quoting mbqb11
Hey Pat

Would be careful with the size of that 1hr bar vs the strong up move we saw. But I am guessing you jumped ship when we got that huge 1hr pin the other way for probably b/e or so?

Best
Mike

Hey Mike,

yeab BE here. Wasnt going to hang around after that formed.
  • #88,313
  • Feb 7, 2011 2:25pm Feb 7, 2011 2:25pm
Quoting bakko85
Hi traders.

A pin bar forming on daily GBPCHF.

If it will close below under 1.54 we would have:
- a pinbar at a PPZ
- divergence on MACD
- a trade with the trend
- 150 ema "touch"

See my possible target below.

It could be a very good setup. Any opinion?
My thoughts

I would like it better if it closed below 1.5364 and then retraced up to about 1.54 and showed a nice turnaround at that level on a lower timeframe. I would then jump in for a ride down to the bottom of the bar prior to the pinbar (assuming this forms a pinbar that closes below 1.5364) which sits at 1.5246.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-02-07_gbpchf_thoughts.png Size: 59 KB
Be bullish on you.
  • #88,314
  • Feb 7, 2011 2:35pm Feb 7, 2011 2:35pm
Hey chelski, please read this post http://www.forexfactory.com/showpost...ostcount=88190 made by Mike see if you find it helpful.
Quoting Chelski
Would any of those who touch trade have taken this?
1.35 BRN,
150 EMA
1st Test since we broke
consolidation box on 4h before we broke 1.35 resistance (i would have been looking on 4h for entry.)
38 Fib sits just under 1.35 for this leg up too.
I don't touch trade but i have been looking at them and liked the confluences.

I would be aiming for the bar lows near 1.3560-70 at FTA and manage from there
  • #88,315
  • Feb 7, 2011 2:46pm Feb 7, 2011 2:46pm
Quoting bakko85
Hi traders.

A pin bar forming on daily GBPCHF.

If it will close below under 1.54 we would have:
- a pinbar at a PPZ
- divergence on MACD
- a trade with the trend
- 150 ema "touch"

See my possible target below.

It could be a very good setup. Any opinion?

Hi Bakko,

In my broker (Fxpro) the candle seems like closing in the middle kind of an indecision bar, IMO its a small bar compared to the previous bullish bars and IŽll need a close below the traffic blue zone.

Os.
Attached Image (click to enlarge)
Click to Enlarge Name: ghchfbakko.jpg Size: 94 KB
Trade Smart
  • #88,316
  • Feb 7, 2011 2:59pm Feb 7, 2011 2:59pm
Quoting bakko85
Hi traders.

A pin bar forming on daily GBPCHF.

If it will close below under 1.54 we would have:
- a pinbar at a PPZ
- divergence on MACD
- a trade with the trend
- 150 ema "touch"

See my possible target below.

It could be a very good setup. Any opinion?
Hey Bakko

I'd like to see a bigger bar too as Os said but I think your overall thought process makes sense. We are coming of some recent really strong strength and today was a pretty dead day. I would just be cautious with the trouble areas on the way down trading back into this strength with a smaller bar.

Best
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 22 KB
  • #88,317
  • Feb 7, 2011 3:25pm Feb 7, 2011 3:25pm
Quoting mbqb11
Hey Bakko

I'd like to see a bigger bar too as Os said but I think your overall thought process makes sense. We are coming of some recent really strong strength and today was a pretty dead day. I would just be cautious with the trouble areas on the way down trading back into this strength with a smaller bar.

Best
Mike

I understand you. I don't like the size of the previous bars too; then, regarding the trouble areas I agree with you, but we would have the down-trend on our side with this potential trade.

I think we have lots of confluence here, and maybe we are searching a reason to no-trade excessively.
  • #88,318
  • Feb 7, 2011 3:32pm Feb 7, 2011 3:32pm
what an exciting day all these price movements, could hardly sit still
  • #88,319
  • Feb 7, 2011 3:55pm Feb 7, 2011 3:55pm
Quoting bakko85
I understand you. I don't like the size of the previous bars too; then, regarding the trouble areas I agree with you, but we would have the down-trend on our side with this potential trade.

I think we have lots of confluence here, and maybe we are searching a reason to no-trade excessively.
Really will come down to trade mgmt. Most would trade this pin and expect a large move and take a full bar loss. A smart trader would take this trade with the information and protect themselves getting their stops to b/e quickly knowing the situation. I hope you understand I wasn't saying not to trade it(even though I wouldn't because of my rules), never would I do that. Just so others can see if this hits the FTA and reverses we are not surprised.

Best
Mike
  • #88,320
  • Feb 7, 2011 4:04pm Feb 7, 2011 4:04pm
Quoting Patrick.
what an exciting day all these price movements, could hardly sit still
I'm really glad about it. I just didn't have the head for it today.
There'll be lots of strong signals after tomorrow's first latte
177 traders viewing now