james16 Chart Thread | Page 4715 | 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

  • #94,281
  • Apr 24, 2011 1:56am Apr 24, 2011 1:56am
Quoting Be Cool
Hi SChaos ...
Question is, is it ok to take this BUOB as continuation (also break of 2D PB) while we only have H4 close above 1.2900 ?..
hello fellow Asian,
sorry for the late reply.

assuming the 2-day PB hasnt triggered yet,
positives:
- big BUOB
- 61.8 Fib. retracement (dodger blue)
negatives:
- Daily - monthly trend is bearish. chf has been very strong lately.
- ppz/traffic/1.30 just above price (PPZ/traffic are shown in Daily chart as bar lows [lime box], lime horizontal line, & yellow rectangle; 1.30 is red horizontal line).

in your H4 chart, u show a small BUOB off of 1.29
is it ok to take it?
only u can answer that.
this is a countertrend trade (IMHO), the FTA is very near, but it's obvious that u know where price would likely stall.
if u were aware of the risk & the FTA, then u could say it's tradeable. the key is u to manage the trade (& each trade we take) accordingly.

if u take into consideration my previous post about eurchf, 1.32 didnt hold as support, 1.30 didnt as well. so my bias now is still bearish (based on Daily - Monthly) with a potential for further consolidation, within 1.27/1.28 to 1.31/1.32 (see 2 rectangles in the weekly chart; possible price movement is shown as well)
i wont be surprised to see 1.24 area again, but i think consolidation is more likely.
let's see

hope this helps
Attached Image (click to enlarge)
Click to Enlarge Name: echf D1.PNG Size: 32 KB

Attached Image (click to enlarge)
Click to Enlarge Name: echf W1.PNG Size: 29 KB
  • #94,282
  • Apr 24, 2011 1:58am Apr 24, 2011 1:58am
Quoting Pinbar
To prove it, I am very skilled at drinking beer, Gin, red wine, Vodka & Tequila.
Yet, I have never worked in a pub.
Could probably have bought a couple of pubs with all the drinks I have drunk though.
hahahh.
...or never became a 'drinking champion' or a drinking 'professional'

that's my point.
  • #94,283
  • Apr 24, 2011 2:05am Apr 24, 2011 2:05am
hi, all this is my first post on ff but not first month with FOREX so take it easy

I've started my adventure with price action just before I interested in Forex market. No indicators since I've started... I had 3 months break in my all 10 months experience. No forex in this time. For 3 months I've learned many things about price action, seen many screens (and still watching many) etc. I decided to join ff to make my trades regular profitable.

The PA thread on ff is HUUUUGE. Of course I've studied first pages a specially your posts Master James16. Wich tread can you describe for me, or which topic a specially. I would be very grateful of any link etc.

I also note that you post in this tread your trades. So I would like to start post my trades too, and feel free to comment - I will be very grateful too.

I hope on FF I've learned techniques, psychology and a specially patient.


Good luck for all of you,

PS: I'm sorry for my english
  • #94,284
  • Apr 24, 2011 2:59am Apr 24, 2011 2:59am
LOL,I think i need some stable money without risk for my wife and my family in the future ,this is why i think i need i job in bank . and your opinions are right .agree.
A chart helps those who can read it.
  • #94,285
  • Apr 24, 2011 4:23am Apr 24, 2011 4:23am
Quoting biDc
thanks for the reply. i also have a question regarding the drawing of fib lines to locate retracement and confluences...There are so many swing highs and lows across all time frame that if I draw them all my chart becomes chaotic! How do i know which to draw and which to skip?
hey biDc, the first thing about drawing fibs, i would say, is that we only really need the obvious ones marked on the chart, drawn from the major swings. if that swing has a couple of dips it is good to draw a fib from each low/high but to look for confluence of the fib level rather than "more" levels to watch. what i do is draw the fibs from all the h/l i feel relevant and mark any levels i deem important by hand..i.e. when 2 or more levels coincide or the 50% coincides with a PPZ etc, and then delete all the fibs to clean up my chart.
remember only fibs relevant to the retracement are necessary.


i would also stick to the time frame your trading from(generally speakin) you may have drawn a fib from the weekly chart but the same swing is on the daily also. things get over complicated as you go down the TFs as the minor swings start to look bigger and more important. if i was to trade a 1hour chart i would draw the fibs from the major swings on that TF but forget about them if i was to trade the 1D chart (but remember i would already be aware of any important levels marked from the daily) as any price movement at those levels on a 1H chart would,obviously, amount to noise on a 1D chart.

hope this helps a little

jon
PATIENCE... DISCIPLINE
  • #94,286
  • Apr 24, 2011 4:25am Apr 24, 2011 4:25am
HAPPY EASTER EVERYONE

i even got a chocolate egg myself!!!



jon
PATIENCE... DISCIPLINE
  • #94,287
  • Apr 24, 2011 4:39am Apr 24, 2011 4:39am
Happy Eater indeed.

I'm allowed to eat the dropped fragments of my kids' eggs. Loving it!

Best


If
  • #94,288
  • Apr 24, 2011 4:47am Apr 24, 2011 4:47am
i got no eggs or chocolates received..
but happy easter to all!
  • #94,289
  • Apr 24, 2011 4:53am Apr 24, 2011 4:53am
Quoting supremeChaos
i got no eggs or chocolates received..
but happy easter to all!
ner ner ne ner nerrrrr.....,.


only kidding, i might even send you one myself!!


jon
PATIENCE... DISCIPLINE
  • #94,290
  • Edited 5:38am Apr 24, 2011 5:21am | Edited 5:38am
Quoting g_j_hook@yah
hey biDc,...
imagine its the 1st of June and i want to draw the fibs on my gb/us chart...this is how i personally would go about it...

the fibs are not drawn from the real high point here but from the high on the chart to simplify things and make my point...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gb1.gif Size: 18 KB
Click to Enlarge Name: gb2.gif Size: 22 KB
Click to Enlarge Name: gb3.gif Size: 18 KB
PATIENCE... DISCIPLINE
  • #94,291
  • Apr 24, 2011 5:32am Apr 24, 2011 5:32am
cont....

hope this helps??

jon
Attached Image (click to enlarge)
Click to Enlarge Name: gb3.gif Size: 19 KB
PATIENCE... DISCIPLINE
  • #94,292
  • Apr 24, 2011 5:33am Apr 24, 2011 5:33am
Quoting kwikwis
Hey Ghous,
Looks like NZD/USD W IPB is in much better shape and location.
Attachment
Much much better.

I like how its at all time swing highs and nicely against the 8000 BRN.

Too bad we didn't get a bearish close under the 8000 . . . that would have granted this setup an A+ badge.

g.
Attached Image (click to enlarge)
Click to Enlarge Name: nu.png Size: 32 KB
I believe . . .
  • #94,293
  • Apr 24, 2011 6:03am Apr 24, 2011 6:03am
Quoting supremeChaos
i got no eggs or chocolates received..
but happy easter to all!

here you go SC....
happy easter!!

jon
Attached Image (click to enlarge)
Click to Enlarge Name: Chocolate_Easter_Eggs.jpg Size: 214 KB
PATIENCE... DISCIPLINE
  • #94,294
  • Apr 24, 2011 6:10am Apr 24, 2011 6:10am
If retracements respect fibs, expansions very often will do so too
Attached Image (click to enlarge)
Click to Enlarge Name: gud.jpg Size: 102 KB
  • #94,295
  • Apr 24, 2011 6:12am Apr 24, 2011 6:12am
Quoting g_j_hook@yah
here you go SC....
happy easter!!

jon
I had some chocolate for SC, but couldn't resist
Attached Image
  • #94,296
  • Apr 24, 2011 6:21am Apr 24, 2011 6:21am
Quoting Ifmyante
I had some chocolate for SC, but couldn't resist

lmao!!
.
PATIENCE... DISCIPLINE
  • #94,297
  • Apr 24, 2011 6:33am Apr 24, 2011 6:33am
Quoting g_j_hook@yah
here you go SC....
happy easter!!
looks more woody than chocolate-y!
Quoting Ifmyante
I had some chocolate for SC, but couldn't resist
are the pink ribbons edible?

thanks guys, for the virtual chocolates
  • #94,298
  • Apr 24, 2011 9:11am Apr 24, 2011 9:11am
Quoting supremeChaos
this is a countertrend trade (IMHO), the FTA is very near, but it's obvious that u know where price would likely stall.

1.32 didnt hold as support, 1.30 didnt as well. so my bias now is still bearish (based on Daily - Monthly) with a potential for further consolidation, within 1.27/1.28 to 1.31/1.32 (see 2 rectangles in the weekly chart; possible price movement is shown as well)
i wont be surprised to see 1.24 area again, but i think consolidation is more likely
Thanks SC
But initially i wanted to take the 2 day PB because i saw it as price broke out of trendline and retest. So i kinda see it as a beginning of change in trend. But looking at more recent price movement, yes price is still in a box.
So in my initial silly analysis, the trend is no longer down hahah

When you say a particular setup is trend/CT , which TF are you referring to? Long term TF?Same TF?Most recent price movement? I'm kinda lost
Attached Image (click to enlarge)
Click to Enlarge Name: sc.gif Size: 20 KB
  • #94,299
  • Apr 24, 2011 9:29am Apr 24, 2011 9:29am
Quoting mbqb11
I do follow FTA and all that, but that doesn't mean for me at every FTA I go to b/e. Sometimes I do, but it depends on the quality of the setup and the type for me.
Yes, i have been having problems with near FTA. Taking profit too soon at FTA but take full bar losses -doesn't do good to my equity. Currently i am trying to understand more about the story as SC put it into perspective for me.

Quote
Generally a breakout trade to me, means price should be "breaking out and away". If I time that right tailing out often makes the most sense.
Do you see this setup as a correct breakout of a box and retest? Do i get it right?

Thanks Mike
  • #94,300
  • Apr 24, 2011 9:36am Apr 24, 2011 9:36am
Quoting Pinbar
Hey BC.

The thing is IMHO, we can work our the buffer and then the FTA before we take a trade so, you really already knew before you even took this trade that the FTA was close, probably too close, as you seem to have now found out. Also, I think this is always a good question to ask ourselves, "Do we really want to start buying into this, at an all time high"?

A touch trade after the breakout before that BUEOB formed would have given you more room to get to BE.
Thanks PB
Yes, it was buying at an all time high. But doesn't it also mean more room to run?
i see Mike do this when he has a strong case/story. This is what i am trying to learn.May make mistakes along the way hahah
50 traders viewing now, 1 is registered:
Gainfaciles