james16 Chart Thread | Page 4450 | 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

  • #88,981
  • Feb 14, 2011 11:51am Feb 14, 2011 11:51am
Quoting trucheitor
Hi this is my first post in forex factory!

Thanks a lot for all the knowledge you gave free in this thread, of course i cant read all of the 5000 pages but i spent some time in it.

I am a programmer so its difficult for me to trade manually but i beleave in this method because i backtested a little of it (good pinbars) and worked profiteable from 2001 to 2011 in one currency pair... so i am here to join you because this thread proved me to work.

I hope i can contribute with some charts so we can see if i can find good trading oportunities for...
Welcome trucheitor

Glad to have you

Mike
  • #88,982
  • Feb 14, 2011 11:52am Feb 14, 2011 11:52am
Quoting Dan Gilbert
E/U and G/U are both in very vital areas right now, and based on the current action we are seeing, I like it. I'm not looking to take any more positions, but just keeping an eye on the USD pairs right now.

I agree Dan . . The 84.20 is a strong Support level, evidenced by the strong move that PB gave. Getting some closes below this level sure would help its cause. . .
Attached Image (click to enlarge)
Click to Enlarge Name: eg14.jpg Size: 81 KB
Indicators show the past. Price Action "Indicates" the future.
  • #88,983
  • Feb 14, 2011 11:59am Feb 14, 2011 11:59am
Quoting Dan Gilbert
E/U and G/U are both in very vital areas right now, and based on the current action we are seeing, I like it. I'm not looking to take any more positions, but just keeping an eye on the USD pairs right now.

Currently, the 4 Hour looks familar . .after awhile you'll start adding to your position . . . .
Attached Image (click to enlarge)
Click to Enlarge Name: eg14a.jpg Size: 87 KB
Indicators show the past. Price Action "Indicates" the future.
  • #88,984
  • Feb 14, 2011 12:02pm Feb 14, 2011 12:02pm
Quoting supremeChaos
hello trucheitor,
wow, first post!
which pair did u backtest? using which chart platform (MT4, etc)?

welcome & looking forward to your posts!
Thanks for the welcome SupremeChaos!

I backtested USD/GBP from 2001 to 2011 looking ONLY for activated pinbars (good ones at swing top o lows, with good size and shape).
The results are: 40 wins and 4 losses with fixed TP and SL.
When i saw the good win:loss ratio i raised the risk percent to 10% to see how much money this method can make.... 10K to 82K in 10 years (its not much because all the rules to select the best pinbars only gives me 44 trades in 10 years... i used H1 to get more trades but i know most of you dont recomend lower timeframes).
I am now implementing more rules like adding round numbers, pivot points, and some EMAs to see if the pinbar is near those levels because in EUR/USD the results are profiteable but just a little in 10 years.

I usually test strategies i find but this is the first time i write in FF because i found promising results in the backtest. In the next days i will add the important levels and i will try it in daily and H4 charts.
I know i used some things that are not good (like fixed TP and SL) but i need something to start and see results.
  • #88,985
  • Feb 14, 2011 12:18pm Feb 14, 2011 12:18pm
Hey Mike . .How's my form fitted wedge on the Weekly Nzd/Jpy . .
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy14.jpg Size: 100 KB
Indicators show the past. Price Action "Indicates" the future.
  • #88,986
  • Feb 14, 2011 12:20pm Feb 14, 2011 12:20pm
Quoting jarroo
Hey Mike . .How's my form fitted wedge on the Weekly Nzd/Jpy . .
looks good, we shall see a xxx/jpy explosion soon(lots are wedging up although not so pretty on some )
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 18 KB
  • #88,987
  • Feb 14, 2011 12:25pm Feb 14, 2011 12:25pm
Quoting mbqb11
looks good, we shall see a xxx/jpy explosion soon(lots are wedging up although not so pretty on some )

How long has that wedge been building on the Nzd/Jpy . . wow.

I think I'm beginning to understand these guys that take one or two trades a year . . ( not saying this is the kind of setup they look for . .or maybe it is .. lol)
Indicators show the past. Price Action "Indicates" the future.
  • #88,988
  • Feb 14, 2011 12:27pm Feb 14, 2011 12:27pm
Interesting level and PA here on EURCAD. Let's see where we close..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcadw1.gif Size: 30 KB
Click to Enlarge Name: eurcadd1.gif Size: 25 KB
  • #88,989
  • Feb 14, 2011 12:28pm Feb 14, 2011 12:28pm
Quoting jarroo
How long has that wedge been building on the Nzd/Jpy . . wow.

I think I'm beginning to understand these guys that take one or two trades a year . . ( not saying this is the kind of setup they look for . .or maybe it is .. lol)
Let's watch it. Look for a strong move out of one of the TLs to confirm a "breakout" Then we can do your touch back to the TL and leave it for a year
  • #88,990
  • Feb 14, 2011 12:31pm Feb 14, 2011 12:31pm
another one we've been watching. That's fun stuff right there
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 21 KB
  • #88,991
  • Feb 14, 2011 12:32pm Feb 14, 2011 12:32pm
Quoting mbqb11
Let's watch it. Look for a strong move out of one of the TLs to confirm a "breakout" Then we can do your touch back to the TL and leave it for a year
I use to think that was crazy but now it makes sense . .well at least to the wedge's targets of course. . .
Indicators show the past. Price Action "Indicates" the future.
  • #88,992
  • Feb 14, 2011 12:35pm Feb 14, 2011 12:35pm
Quoting jarroo
How long has that wedge been building on the Nzd/Jpy . . wow.

I think I'm beginning to understand these guys that take one or two trades a year . . ( not saying this is the kind of setup they look for . .or maybe it is .. lol)

Talking about wedge and xx/jpy...

Look at this one on audjpy (smaller timeframe : 4H): it is dancing around 83.50 since last week, time to go long?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aj.gif Size: 15 KB
Click to Enlarge Name: aj2.gif Size: 25 KB
  • #88,993
  • Feb 14, 2011 12:36pm Feb 14, 2011 12:36pm
Quoting madboy
It's got a lot of obstacles in it's way but if this comes out as a h&s we might reach 1.3200 in the near future.Let's wait and see...
The neck is almost broken,please sell Euro guys,tomorrow I would like to see it under 1.3400 if it's not to much....
Attached Image (click to enlarge)
Click to Enlarge Name: eu h&s at neck update.gif Size: 18 KB
  • #88,994
  • Feb 14, 2011 12:42pm Feb 14, 2011 12:42pm
Quoting bakko85
Talking about wedge and xx/jpy...

Look at this one on audjpy (smaller timeframe : 4H): it is dancing around 83.50 since last week, time to go long?

I can't even relate to these pairs on the 4 hour TF. It looks like a 5min chart to me .. lol


We had some posts on this one . it sure is showing signs of going higher.

Quoting mbqb11
on the radar for next week

Support , look to turn into resistance. Will watch for PA to confirm
Quoting jarroo
I'll be watching too . .

The Weekly sure is showing signs of going higher ..
Indicators show the past. Price Action "Indicates" the future.
  • #88,995
  • Feb 14, 2011 12:44pm Feb 14, 2011 12:44pm
Quoting madboy
The neck is almost broken,please sell Euro guys,tomorrow I would like to see it under 1.3400 if it's not to much....
im doing my part, got 7 positions short
  • #88,996
  • Feb 14, 2011 12:51pm Feb 14, 2011 12:51pm
Quoting jarroo
I can't even relate to these pairs on the 4 hour TF. It looks like a 5min chart to me .. lol


We had some posts on this one . it sure is showing signs of going higher.
LOL I know.

And this pair was on my radar too, so this could be the signal of going higher if it will be broken upwards - lower timeframes sometimes can give the opportunity to take position, no? -
  • #88,997
  • Feb 14, 2011 12:53pm Feb 14, 2011 12:53pm
Quoting madboy
The neck is almost broken,please sell Euro guys,tomorrow I would like to see it under 1.3400 if it's not to much....
lol . . I'll sell when it gets under the 1.3400 but for now that previous consolidation is surely acting as Support from previous Resistance.
Indicators show the past. Price Action "Indicates" the future.
  • #88,998
  • Feb 14, 2011 12:54pm Feb 14, 2011 12:54pm
Quoting DBallerz
im doing my part, got 7 positions short
Good job,in my case this is all James16,mbqb11,Jarroo,Raczekfx and all the other seniors since 2005 ''fault'',so a big Thank you to all seniors here
Sorry for my english..
  • #88,999
  • Feb 14, 2011 1:00pm Feb 14, 2011 1:00pm
Quoting bakko85
LOL I know.

And this pair was on my radar too, so this could be the signal of going higher if it will be broken upwards - lower timeframes sometimes can give the opportunity to take position, no? -

Absolutely bakkos, the lower TF can give a great opportunity at the right level, with the right story.

I would just make sure the lower TF PA is BIG and BOLD with this pair.

I like to see Price come back to the 82.50 and give up some big bullish PA.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy14.jpg Size: 116 KB
Indicators show the past. Price Action "Indicates" the future.
  • #89,000
  • Feb 14, 2011 1:06pm Feb 14, 2011 1:06pm
Quoting Sgrb1
Interesting level and PA here on EURCAD. Let's see where we close..

It sure likes that PPZ level at the 1.3375 level.

I agree Sgr, a nice close below would be sweet . .

Quoting jarroo
Watching Eur/Cad. . .

Did momentum build on this BEOB and now will break through the 1.3375 PPZ or is momentum lost and we go back up. . .I like the former . .we shall see. . .
Indicators show the past. Price Action "Indicates" the future.
378 traders viewing now