james16 Chart Thread | Page 4841 | 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

  • #96,801
  • Jun 16, 2011 5:54pm Jun 16, 2011 5:54pm
Quoting pex
what about this one?
What I see on NU is small red pin (price closed lower than open) after a nice bearish day that broke it's most recent consolidation area (con 3 on my chart). In this case I would look to reduce risk or take profit very quickly.

I drew in 8100 in addition to the BRN's and this level looks very likely to turn from support to resistance. Price looks heavy on this pair to me and looks like it may be turning over.

Now that the area I've marked consolidation 3 has been broken, I wouldn't be surprised to see price hang around the area marked consolidation 1 for a while, before breaking that area and getting into consolidation 2 area.

Disclaimer: if this analysis is totally off, it wouldn't be the first time!!
Attached Image (click to enlarge)
Click to Enlarge Name: wipg46.gif Size: 26 KB
  • #96,802
  • Jun 16, 2011 5:58pm Jun 16, 2011 5:58pm
Quoting biDc
For me I'd like to see N/U close above the black line
Great point, I didn't notice that area earlier. It looks like it could present some resistance. I will have to factor that in should I decide to trade it. I trade Oanda so I have about 5 hours left before my daily bar closes. The early Asian session might decide to take price back towards the .8000 level before then, negating the whole idea.

Thanks for your help

Jacob
  • #96,803
  • Jun 16, 2011 6:04pm Jun 16, 2011 6:04pm
Guys if trading NU watch out for FTA which is very close - might be best to take quick profits there.
  • #96,804
  • Jun 16, 2011 6:04pm Jun 16, 2011 6:04pm
anybody, by any chance, live in Toronto, Canada ( Etobicoke in the west end) that would be interested in meeting up and talk trading face to face. I could use a fellow forexfactory trader's help and think some face to face discussion would really benefit both of use . PM if your interested.

Stefan
  • #96,805
  • Jun 16, 2011 6:45pm Jun 16, 2011 6:45pm
In at 0.8038 stop at BE. Lets see

Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.jpg Size: 112 KB
Free speech is an oxymoron
  • #96,806
  • Jun 16, 2011 7:04pm Jun 16, 2011 7:04pm
Lookin at the U/Cd

Daily:
http://img834.imageshack.us/img834/9151/ucd.gif

4hr:
http://img21.imageshack.us/img21/9151/ucd.gif

and the E/U

http://img691.imageshack.us/img691/8611/95032329.gif
  • #96,807
  • Jun 16, 2011 7:05pm Jun 16, 2011 7:05pm
Quoting Donkey
What I see on NU is small red pin (price closed lower than open) after a nice bearish day that broke it's most recent consolidation area (con 3 on my chart). In this case I would look to reduce risk or take profit very quickly.

I drew in 8100 in addition to the BRN's and this level looks very likely to turn from support to resistance. Price looks heavy on this pair to me and looks like it may be turning over.

Now that the area I've marked consolidation 3 has been broken, I wouldn't be surprised to see price hang around the area marked consolidation...
D you are good brotha, you are good
  • #96,808
  • Jun 16, 2011 7:37pm Jun 16, 2011 7:37pm
Hi Mike and others,

I have sold at the level shown by "Sold Here". Looks like it went back to previous resistance ( Dark line/zone) . PA showed Inside Bar as well as engulfing bar where I took the trade. It is with long term trend so that's good. Some Qs?

1. Would you take this trade? Why/Why not?
2. There is a Red pin bar . Good thing is that it is bearish. Would you get out of the trade with such a bar?
3. I am finding it still challenging to go away from charts and forget about the trade :-) Not there yet. How do you do it :-)?

Appreciate your comments.

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 67 KB
  • #96,809
  • Jun 16, 2011 8:25pm Jun 16, 2011 8:25pm
Quoting Imphilomath
Hi Mike and others,

I have sold at the level shown by "Sold Here". Looks like it went back to previous resistance ( Dark line/zone) . PA showed Inside Bar as well as engulfing bar where I took the trade. It is with long term trend so that's good. Some Qs?

1. Would you take this trade? Why/Why not?
2. There is a Red pin bar . Good thing is that it is bearish. Would you get out of the trade with such a bar?
3. I am finding it still challenging to go away from charts and forget about the trade :-) Not there yet. How do you do it :-)?

Appreciate...
I can't help you myself cause I am new here (sorry), but I am interested as to which pair and timeframe this chart is on so I can see the price levels. I don't know if I would have taken this trade myself cause I like round number areas, but I can say for sure I would have gotten out by now.
  • #96,810
  • Jun 16, 2011 8:33pm Jun 16, 2011 8:33pm
Quoting Imphilomath
Hi Mike and others,

I have sold at the level shown by "Sold Here". Looks like it went back to previous resistance ( Dark line/zone) . PA showed Inside Bar as well as engulfing bar where I took the trade. It is with long term trend so that's good. Some Qs?

1. Would you take this trade? Why/Why not?
2. There is a Red pin bar . Good thing is that it is bearish. Would you get out of the trade with such a bar?
3. I am finding it still challenging to go away from charts and forget about the trade :-) Not there yet. How do you do it :-)?

Appreciate...
Hey Imp

yes I love that level and think that is a fantastic trade. I personally would not have taken it because one of my rules has to do with closes of bars. If you notice the Beob(which was a good one) just didn't close below the 8500 brn. So I just pass intraday since it is one of my rules. It broke nice from it pulled back to 8500 and went down yet again. I think that is fine, just something to be aware of and use appropriately when managing.

Take care
Mike
  • #96,811
  • Jun 16, 2011 8:41pm Jun 16, 2011 8:41pm
Quoting J.W. Holmes
I can't help you myself cause I am new here (sorry), but I am interested as to which pair and timeframe this chart is on so I can see the price levels. I don't know if I would have taken this trade myself cause I like round number areas, but I can say for sure I would have gotten out by now.
Thanks JW for your note. It is USDCHF 4H.

cheers
  • #96,812
  • Jun 16, 2011 8:42pm Jun 16, 2011 8:42pm
Quoting mbqb11
Hey Imp

yes I love that level and think that is a fantastic trade. I personally would not have taken it because one of my rules has to do with closes of bars. If you notice the Beob(which was a good one) just didn't close below the 8500 brn. So I just pass intraday since it is one of my rules. It broke nice from it pulled back to 8500 and went down yet again. I think that is fine, just something to be aware of and use appropriately when managing.

Take care
Mike
Thanks Mike. I missed that level. Looks like my SweetspotGold did not repainted :-). That makes sense. I will remember to look at close of the candle with respect to candle itself and nearest BRN.

cheers Mike
  • #96,813
  • Jun 16, 2011 11:16pm Jun 16, 2011 11:16pm
Hi everybody,
will try to catch ucad today,
let's see if it really breaks up,


Peter

PS this trade would not be seen in my profile demo
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad 17.06.2011.gif Size: 17 KB
Jesus Christ is my only Lord !
  • #96,814
  • Jun 17, 2011 12:03am Jun 17, 2011 12:03am
Quoting hipcio
Hi everybody,
will try to catch ucad today,
let's see if it really breaks up,


Peter

PS this trade would not be seen in my profile demo


Hi Peter
You have maintained very good journal and congratulations on 40% returns. Good luck!!

I looked at some of your trades. Are you mostly having touch trades close to strong Support/ resistance level?

cheers
  • #96,815
  • Jun 17, 2011 12:08am Jun 17, 2011 12:08am
GBPJPY at long term daily support. 4h support around 130.3 has become resistance tested by 4 pinbars (after a bigger bearish bar). I got quite a few off a touch trade from 130 up to the top of the pinbar but now it has fallen back again. Time to look for some PA to bounce above the pinbars or a possible breakout below. One for me to watch today.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu daily 17 jun.gif Size: 26 KB
Click to Enlarge Name: gu 4h17 jun.gif Size: 28 KB
  • #96,816
  • Jun 17, 2011 12:12am Jun 17, 2011 12:12am
Quoting Imphilomath
Hi Peter
You have maintained very good journal and congratulations on 40% returns. Good luck!!

I looked at some of your trades. Are you mostly having touch trades close to strong Support/ resistance level?

cheers
Thank You Imphilomath ,

I have to underline it is only demo - I have stopped real for a while as I had a series of lossers in a row - to demo new apprach for three months.

Secondly all I can do I have learned at J16 PF, and if I did exactly what Mike (mbqb11) says there would be not so many losers, and not so many trades at all , not mentioning the account profit (would be higher).

No, I ussually do not trade touch, It was the only one - as I believed that the PPZ was very strong there.

Cheers,
Peter
Jesus Christ is my only Lord !
  • #96,817
  • Jun 17, 2011 1:38am Jun 17, 2011 1:38am
Quoting morph
GBPJPY at long term daily support. 4h support around 130.3 has become resistance tested by 4 pinbars (after a bigger bearish bar). I got quite a few off a touch trade from 130 up to the top of the pinbar but now it has fallen back again. Time to look for some PA to bounce above the pinbars or a possible breakout below. One for me to watch today.
could you consider those bars as a DBHLC (or even triple) which is bearish, but of course like you say there is that daily support.
  • #96,818
  • Jun 17, 2011 1:40am Jun 17, 2011 1:40am
N/CD not quite sure how I feel about this one.

7930 PPZ
61.8 fib rejection
close below 21 EMA
Pinbar

What do you guys see?

http://img268.imageshack.us/img268/1299/1ncd.gif
  • #96,819
  • Jun 17, 2011 1:59am Jun 17, 2011 1:59am
CHART
Attached Image (click to enlarge)
Click to Enlarge Name: nu61611.gif Size: 36 KB
  • #96,820
  • Jun 17, 2011 1:59am Jun 17, 2011 1:59am
Quoting Valinn
N/CD not quite sure how I feel about this one.

7930 PPZ
61.8 fib rejection
close below 21 EMA
Pinbar

What do you guys see?

http://img268.imageshack.us/img268/1299/1ncd.gif
I just got taken out of my short on this one and considering another entry. Been watching it for a couple of weeks because of the 0.8000 area.

Yesterday's daily bar was a pin so it might (although it seems to have already) head back up to the 7950-8050 consolidation area (I can't draw boxes with GFT so drew a circle instead). I'm looking for a possible re entry on this to short it down to 0.7700. Weekly chart is from last week but shows the 0.8000 level in (my) longer term perspective.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDCAD1D.gif Size: 25 KB
Click to Enlarge Name: NZDCADweekly.gif Size: 34 KB
Anything can happen.
46 traders viewing now