james16 Chart Thread | Page 4777 | 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

  • #95,521
  • May 22, 2011 1:40pm May 22, 2011 1:40pm
Anyone like the weekly BEOB on EUR/NZD? It looks like a continuation break of a nice down move, is straddled over BRN 1.8000. Might be nice to wait for some kind of pullback on the daily/4H then ride it all the way down to 1.7500.
Attached Image (click to enlarge)
Click to Enlarge Name: EURNZDweekly.gif Size: 16 KB
Anything can happen.
  • #95,522
  • May 22, 2011 1:55pm May 22, 2011 1:55pm
NZD again - looks good on a lot of weekly charts

Quite nice weekly BUOB that stopped at the 150 EMA and closed bang on 65.00 (65.003 according to GFT).

See trouble at 66.50..
Attached Image (click to enlarge)
Click to Enlarge Name: NZDJPYweekly.gif Size: 20 KB
Anything can happen.
  • #95,523
  • Edited 3:18pm May 22, 2011 2:47pm | Edited 3:18pm
Quoting 5.25
OK. Last time I post this, honest...

9 weeks in and full profit banked!!!
nice man, killer trade, really cool


Back from a little break in boston, hope everyone had a good one too

Mike
  • #95,524
  • May 22, 2011 3:11pm May 22, 2011 3:11pm
Err.... Mike... You got a little bit of tea stuck on your lip there.
No... Other side...
There ya go.


B
  • #95,525
  • May 22, 2011 3:47pm May 22, 2011 3:47pm
Quoting ddinnov
Anyone like the weekly BEOB on EUR/NZD? It looks like a continuation break of a nice down move, is straddled over BRN 1.8000. Might be nice to wait for some kind of pullback on the daily/4H then ride it all the way down to 1.7500.
Hi ddinnov, here's my chart.

I like the way this pair is responding to it's PPZ's. Note the strong close on the last 4h candle. I'll be watching for a retest of the 1.7970 and ultimately some PA at 1.7500.
Attached Image (click to enlarge)
Click to Enlarge Name: 33_eurnzd d.jpg Size: 115 KB
  • #95,526
  • May 22, 2011 3:53pm May 22, 2011 3:53pm
Quoting 5.25
Hi ddinnov, here's my chart.

I like the way this pair is responding to it's PPZ's. Note the strong close on the last 4h candle. I'll be watching for a retest of the 1.7970 and ultimately some PA at 1.7500.
I actually have a short position in this that I plan on taking 50% profit soon. If this retraces in the H4 chart I may add again to the position!
  • #95,527
  • May 22, 2011 4:06pm May 22, 2011 4:06pm
Quoting biDc
I actually have a short position in this that I plan on taking 50% profit soon. If this retraces in the H4 chart I may add again to the position!
Nice It's something I've been looking into, adding to a position (come the right confluence). Haven't put it into practice yet.

Did you short that BEOB above 1.8500? I was tempted but put off by that BRN.

Quoting mbqb11
nice man, killer trade, really cool
  • #95,528
  • May 22, 2011 4:23pm May 22, 2011 4:23pm
Quoting 5.25
Nice It's something I've been looking into, adding to a position (come the right confluence). Haven't put it into practice yet.

Did you short that BEOB above 1.8500? I was tempted but put off by that BRN.



Yeah I shorted at the break of that BEOB earlier this month which was 1.843 on my platform. Since I'm still demo trading, there are things that I'm still trying out and one is adding to a winning position. Like you said if price can retrace to a respectable confluence it may be worthwhile to add to a position. This actually will be my first practice of doing it so we will see how well it plays out in the long run.
  • #95,529
  • May 22, 2011 4:41pm May 22, 2011 4:41pm
Hey there everyone. Just wanted to get everyone's imput on the EUR/USD BEOB. I ultimately chose to pass on it. I was just wondering what everyone else's thoughts on it were?

Pass reasons were not so much that it was not at a swing high, but that it was headed into too much traffic and a BRN. At this point I work evenings and find it too hard to move stop to BE at certain levels so I just pass on trades where this would be neccessary. That having been said what were others thoughts?

Thanks,
Ryan
Attached Image (click to enlarge)
Click to Enlarge Name: eu 5-23 buob.gif Size: 33 KB
  • #95,530
  • May 22, 2011 5:03pm May 22, 2011 5:03pm
Quoting gungriffin
Hey there everyone. Just wanted to get everyone's imput on the EUR/USD BEOB. I ultimately chose to pass on it. I was just wondering what everyone else's thoughts on it were?

Pass reasons were not so much that it was not at a swing high, but that it was headed into too much traffic and a BRN. At this point I work evenings and find it too hard to move stop to BE at certain levels so I just pass on trades where this would be neccessary. That having been said what were others thoughts?

Thanks,
Ryan
I like it and can potentially short it. The FTA I have is far enough to justify the trade (for me) and I may ease in with smaller positions. At the same time, the dollar ended with a large BUOB last week so could be another small clue to this BEOB.
  • #95,531
  • May 22, 2011 6:19pm May 22, 2011 6:19pm
Let's see if this BEOB is the breakout bar
Attached Image (click to enlarge)
Click to Enlarge Name: a2.gif Size: 33 KB
  • #95,532
  • May 22, 2011 6:48pm May 22, 2011 6:48pm
Quoting mbqb11
Let's see if this BEOB is the breakout bar
Do you wait for a retrace on OB's or do you enter off the close?
  • #95,533
  • May 22, 2011 8:36pm May 22, 2011 8:36pm
Quoting Valinn
Do you wait for a retrace on OB's or do you enter off the close?
Hey Valinn

All bars can be entered in different ways.

-close
-a break of the bar(in this case when the low gets taken out)
-retrace
etc

I myself prefer to wait for a break. It's just what is most comfortable for me. Some like to wait for the retrace especially on outside bars b/c they often do retrace. One thing to remember is that a bar is not validated till the low/high breaks. All the above methods have advantages and disadvantages to them

Hope this helps
Mike
  • #95,534
  • May 22, 2011 9:00pm May 22, 2011 9:00pm
Quoting mbqb11
Hey Valinn

All bars can be entered in different ways.

-close
-a break of the bar(in this case when the low gets taken out)
-retrace
etc

I myself prefer to wait for a break. It's just what is most comfortable for me. Some like to wait for the retrace especially on outside bars b/c they often do retrace. One thing to remember is that a bar is not validated till the low/high breaks. All the above methods have advantages and disadvantages to them

Hope this helps
Mike
hey mike i'm in this trade too. i usually trade retrace but because there is apparently no price lower than this region and at the same time trend is down, i traded the break of the support instead.

how are you managing this trade since there is no previous price actions below the current price? I am thinking when bullish PA develops I will take some profits and move the rest to BE and depending on the situation add more to position after retracement.
  • #95,535
  • May 22, 2011 9:38pm May 22, 2011 9:38pm
Quoting NSGoh
Hi Pinbar

Thanks for the sharing. I had realized that I described my trade incorrectly. It was supposed to be a DBLHC instead of BUOB. I took it based on DBLHC.

I have also noted on your comments of why you would not have taken the trade. Thanks.

Regards
NS

Hi

Yes, it does fit the criteria for a DBLHC because the lows are within 3 pips of each other. that used to confuse me also as I used to think that a BUEOB also had a 3 pip margin. This is not the case though.

Glad it worked out for you.
  • #95,536
  • May 23, 2011 12:05am May 23, 2011 12:05am
Interesting area that has a lot of confluence in its favor.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 110 KB
  • #95,537
  • May 23, 2011 1:00am May 23, 2011 1:00am
Quoting mbqb11
Let's see if this BEOB is the breakout bar
*sigh*, I'd be in this one with you right now if I was on a computer that allowed me to log in, currently out of town, cannot find a way to D/L meta trader and simply login with my IBFX info....


currently frustrated
Many choose unhappiness over uncertainty.
  • #95,538
  • May 23, 2011 1:33am May 23, 2011 1:33am
Quoting Pinbar
Interesting area that has a lot of confluence in its favor.
This has also caught my eye. Ive been waiting for this retest for a while.
  • #95,539
  • Edited 2:15am May 23, 2011 1:58am | Edited 2:15am
Quoting Dan Gilbert
*sigh*, I'd be in this one with you right now if I was on a computer that allowed me to log in, currently out of town, cannot find a way to D/L meta trader and simply login with my IBFX info....


currently frustrated
I share the pain. Can't log onto my FX Account, PC or iphone!

Edit: Anyone else having technical problems with Oanda?
  • #95,540
  • May 23, 2011 2:39am May 23, 2011 2:39am
Quoting 5.25
I share the pain. Can't log onto my FX Account, PC or iphone!

Edit: Anyone else having technical problems with Oanda?
It works fine with me. (well.....it was 10 minutes ago. Now its dead)
34 traders viewing now