james16 Chart Thread | Page 4580 | 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

  • #91,581
  • Mar 14, 2011 7:03am Mar 14, 2011 7:03am
Quoting Greenhaze
Hey Pb

I think one needs to be very carefull playing this pair now. Liquidity is low and it can be very volatile at moments. S&R dont hold so much in environment like that.

I agree totally, I only used this pair as an example of my understanding or misunderstanding of Jaroos, LCS HCR.
  • #91,582
  • Edited 7:27am Mar 14, 2011 7:09am | Edited 7:27am
Hi Pinbar and Jarroo...Maybe you can help me clarify the whole hcr/lcs from weekly.

So when you are trading the current week you use the high close of 2 weeks ago bar and low close of your last week bar to give your HCR LCS for the current week?

Then, If a daily bar closes above weekly HCR you wait for a pullback to hcr area with supporting PA on lets say the hourly or 4 hourly bars for a long...

And ....If a daily bar closes below weekly LCS, you wait for a pullback to lcs area with supporting PA on lets say the hourly or 4 hourly bars for a short???


OR is the HCR weekly thw highest close at resistance for the weekly consolidation and LCS, lowest close of support of the weekly consolodation... ?

Hope my question is not confusing ...thanks guys
Quoting Pinbar
Hey Kalbar

Here is my quick take on it but, let's wait to see if Jarroo confirms this.

I only put the areas to look for bullish or bearish PA on this chart. We still have to look for surrounding S&R.

Oh no, I just posted a chart, does this mean another earthquake?
  • #91,583
  • Mar 14, 2011 7:35am Mar 14, 2011 7:35am
Quoting f451
Thank you Mike

One questions on that - with an aggressive entry, what does a retracement of the bar to a certain level mean, and how is calculated?

f451
Hey F4

Kanesh answered for me thanks bud

A retracement level can be taken as

Using a fib as Kanesh showed
Using a previous level (like a previous s/r level or the left eye of a bar(previous low)
A combo of the above
Some other confluenced item

For example a lot of people like to enter Outside bars on retraces

Here is an example
Attached Image (click to enlarge)
Click to Enlarge Name: a3.gif Size: 32 KB
  • #91,584
  • Mar 14, 2011 7:37am Mar 14, 2011 7:37am
Quoting Mak
Good morning and afternoon.
Kindly comment on the following GU charts. The weekly bar is BEOB rejected from 150 ema (Magenta) and it reached the FTA which is also a BRN i.e 1.6000. The daily chart on the other hand shows a bullish PB at the same BRN (1.6000). I think it is a pass for me as there is a conflict between the weekly and the daily. What do you think.

Thanks in advance.
Ammar
Hey Ammar

I like to keep my analysis separate. Can lead to analysis paralysis especially at the beginning of learning to get this. If you look at James charts you will see he never uses multiple timeframes when analyzing his trades. Keeps the focus good.

Here were a couple charts on the gbp/usd daily. I like your weekly analysis of price not being able to close under the BRN of 1.6
Attached Image(s) (click to enlarge)
Click to Enlarge Name: a.gif Size: 49 KB
Click to Enlarge Name: a2.gif Size: 28 KB
  • #91,585
  • Mar 14, 2011 9:18am Mar 14, 2011 9:18am
Hi Mike Just wondering is this BEOB look right to you as breakout PA?
I didn't trade it -just watching. It would be nice if it closed below bottom TL that formed the wedge.
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: askmike.gif Size: 19 KB
  • #91,586
  • Mar 14, 2011 9:27am Mar 14, 2011 9:27am
Quoting Pinbar
Thanks folks but, I think it is time to get out of Japan.

I am working on getting out right now with those 3 nuclear power plants about to melt down and more possible large earthquakes closer to where I am.

Mate , might be a wise move for now , if you like to consider down under for a while let us know. I live in Perth and anything that i can do to help out , I shall do .. PM me if you like , when you like ... I can pass some info..

Look after yourselves mate ...

Cheers
Vito
  • #91,587
  • Mar 14, 2011 10:28am Mar 14, 2011 10:28am
Quoting Be Cool
Hi Mike Just wondering is this BEOB look right to you as breakout PA?
I didn't trade it -just watching. It would be nice if it closed below bottom TL that formed the wedge.
Thanks
Yep sure was BC, I played it but took a small loss on the snap back through the TL. Was hoping the slide would be massive as things often are on the xxx/jpy when things break out that hard but BOJ stepped in rightly

Best
Mike
  • #91,588
  • Edited 11:29am Mar 14, 2011 11:16am | Edited 11:29am
Nice daily support area around daily buob gave us h1 pb after the false break to the downside. Weak longs are shaken out and now we want price to hit the top of the channel. Mental stop under 1.0060. Lets see what will talking heads do on aud meeting minutes today. Hawkish tone might trigger some nice bullish action.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AU.PNG Size: 37 KB
Click to Enlarge Name: AU2.PNG Size: 36 KB
  • #91,589
  • Mar 14, 2011 11:32am Mar 14, 2011 11:32am
Quoting mbqb11
Hey Pex

Cool one to watch, lets see if we can close above the prior lows and descending trendline


Mike
Wouldnt that be trading into traffic, Mike?
  • #91,590
  • Edited 1:31pm Mar 14, 2011 11:37am | Edited 1:31pm
I'm Still holding this trade..PB.1.37RN..relevant TL..
Jarroo,pls take a look at hcr-lcs terminology that i have applied on chart..
i wanna know if its a logical approach or over-analytical..
NOTE:hcr1 & lcs1-->same line
my TP is 1.35..(EDIT:i may close trade in between too,that depends)

if price starts consolidating near 1.36 i would close the trade in between(n i dont know y,maybe i will be scared of unforseen price reactions that time,also 10 pip spread)

im bit busy with college stuffs so i will be back to this post:

Quoting jarroo
Let's walk through this one, AD . ..Daily Gbp/Aud.


What do you see?


Others can join in .. .I'll be back later . . .PBT&CB and HCR /LCS


Jim
Attached Image (click to enlarge)
Click to Enlarge Name: an1.gif Size: 17 KB
  • #91,591
  • Mar 14, 2011 12:05pm Mar 14, 2011 12:05pm
any one here who can help with some exit strategies pls, profit turning to loss most times
  • #91,592
  • Mar 14, 2011 12:07pm Mar 14, 2011 12:07pm
Quoting Be Cool
Wouldnt that be trading into traffic, Mike?
Hey BC

We would be in a larger box of consolidation so by nature we have to be aware of that. But it would be a breakout type quality since it closed above the descending trendline. So the make up would still be one that I understand taking and I would manage according to the environment we are in( a larger consolidation box)

Best
Mike
  • #91,593
  • Mar 14, 2011 12:07pm Mar 14, 2011 12:07pm
Quoting TenFX
any one here who can help with some exit strategies pls, profit turning to loss most times
Hey Ten

Welcome, post up some trades where you are struggling and we'll see if we can give you some help

Best
Mike
  • #91,594
  • Mar 14, 2011 12:22pm Mar 14, 2011 12:22pm
Quoting jarroo
Hey Mike . . .any comments on this bearish flag on the Daily Usd/Chf now that its broken through.
Not Mike but, there was the BEOB for anyone looking to take the retest of the Flag..
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfh4.gif Size: 28 KB
  • #91,595
  • Mar 14, 2011 12:24pm Mar 14, 2011 12:24pm
Quoting Sgrb1
Not Mike but, there was the BEOB for anyone looking to take the retest of the Flag..
very good bud
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 18 KB
  • #91,596
  • Mar 14, 2011 12:56pm Mar 14, 2011 12:56pm
I have been hesitating from posting this here. Thought it would be more appropriate on the Broker Forum. And will probably post it there also.


The short story. Since I have been doing very well trading I decided to up my lot size, unfortunately it was at an inoppotune time. MBTrading is the broker. There MT4 Platform has been down, then back up, then back down, over and over since the Sunday open. I tried to reduce my stop loss on a trade that I didn 't want to take a full bar loss. Platform inoperative. Tried to call the trade desk. 30mins on hold. I needed to return to work. I had to hang up and kiss that money goodbye.

I called the the trade desk today...all they could give me was a $20.00 credit, but assured me that the servers were good up and running. I entered another setup. Server down again. This sucks!

I need to find another MT4 broker. Any suggestions?

Demoralized,

Bill
  • #91,597
  • Mar 14, 2011 1:32pm Mar 14, 2011 1:32pm
Yeh MBT is up and down 50 times per day " my demo acc " ...

I think no one likes to recomend a broker because its a two side blade lol

All i can say is shoose betwin the bigest ones the best advice i got once from an old trader ....


tough this site might help you ....BrokerCyberSearch --> enter the criteria that sutes you and click search

http://www.100forexbrokers.com/
  • #91,598
  • Mar 14, 2011 2:41pm Mar 14, 2011 2:41pm
Quoting jarroo
That looks good vito.

My main focus is on the Daily consolidation in yellow.

If I were to touch trade this setup I would have my entry at the 1.5950 and S/L above the 1.6000 . .the Lowest Close of Support of this Daily consolidation. Or an entry at the 1.6000 . . all because PBT&CB this Daily consolidation.


But its much better to wait for some clear and clean bearish PA at the 1.5950 or 1.6000.

At first glance, this TT looks to have been a losing trade . .but a closer look on the Hourly and you can see that it did provide some downward movement and positive pips were given if managed tightly.

Touch trades for me is all about covering yourself from a loss. . .bit it by moving to break even or a free trade position.

The best, of course, is a solid PA setup.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ac13ab.jpg Size: 95 KB
Click to Enlarge Name: ac13abtt.jpg Size: 113 KB
Indicators show the past. Price Action "Indicates" the future.
  • #91,599
  • Mar 14, 2011 2:49pm Mar 14, 2011 2:49pm
Quoting ksganesh100
thanks for your reply jarroo.

this is great, a consolidation within the consolidation. a sort of light bulb went off when i saw your post regarding this concept and this is how i sumarize my understanding of pbtcb and hcr/lcs:

pbtca or cb : we are generally looking for price to break through a key ppz / price level and close above or below it. after it does so, some price action which indicates that price now treats the previous key level as resistance/ support is great for a trade.

pbtcb or ca WITH hcr/lcs: in a conolidation box where there...
That's perfect ksg . .

Keep it elementary just like that. . .no need to complicate this because when you do, it doesn't work . .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #91,600
  • Mar 14, 2011 2:52pm Mar 14, 2011 2:52pm
Quoting Pinbar
Sorry for the late reply Jarroo.
Things are hectic in japan right now, had to line for 2 hours to get into the supermarket which was empty by the time I got in, and then I had to line up for over an hour for gasoline which they are charging 148JPY per liter, for. Panic buying all over the place and a government implemented power cut is in place in each area nationwide. Was supposed to get cut off at 17:20 but they seem to think they can get by without cutting us off.

will check out the chart but, right now, I have to use the laptop because it...

No problem, Steve . .I'm sure you got your hands full with many things . .be safe, buddy.
Indicators show the past. Price Action "Indicates" the future.
42 traders viewing now