james16 Chart Thread | Page 4886 | 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

  • #97,701
  • Jul 1, 2011 4:51am Jul 1, 2011 4:51am
Quoting Greenhaze
I agree with Sir SC,

Step by step approach will cost You less money.
Thanks both supremeChaos and Greenhaze. Your replies are most helpful as ever.http://www.forexfactory.com/images/icons/icon14.gifI had tried a similar-ish trade in eurchf but price kept going and broke trendline. See chart below. I had entered at 1.2075, s/l 1.2101. I know this was discussed on thread at the time.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCHF.jpg Size: 138 KB
  • #97,702
  • Jul 1, 2011 5:59am Jul 1, 2011 5:59am
what do you say if its closes like this?
it's friday and what seems to be a shift in sentiment for the chf...
Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy4h.gif Size: 34 KB
  • #97,703
  • Jul 1, 2011 6:16am Jul 1, 2011 6:16am
Quoting danielga
what do you say if its closes like this?
it's friday and what seems to be a shift in sentiment for the chf...

Hello danielga

I have a similar trendline drawn. TL can be more general even than horizontal S/R.
This is a perfect example. The TL you have drawn shows that pin at TL support.
The TL I drew showed the TL forming just over that bar, so I would pass on it if the bar closed below the TL cuz (on my chart) the TL would then be acting as resistance.

I guess the bottom line here is be careful with TL
  • #97,704
  • Edited 6:54am Jul 1, 2011 6:18am | Edited 6:54am
Quoting danielga
what do you say if its closes like this?
it's friday and what seems to be a shift in sentiment for the chf...
I think it'll rebound; the momentum indicators fall through the floor.

That being said, I think it's:

a. a ranging market. You'll make money no matter what you do as long as you're patient.
b. I see the range as [94-94.3] - ~96.5 - eventually 98(it's an uptrend afterall)
c. I think the most probable range right now is 94 - 96.5. So you're in the middle of it.
I think it'll go up(with a reasonable chance, sensibly over 50%, especially since it's yen in there - I've played my short down to 95.55 because it's 95.5 and because you have 38.2 fibo of move from 94.12 to 97.x at 95.45 and 1st week of Jun found good support around 95.4 - 95.5 and momentum suggests a rally too), but I won't buy in the middle of the range for the life of it(matter of taste - I'm sure there are ppl. that buy/sell in the middle and cash on the borders just fine).
d. wouldn't hold too much faith in a trendline. It's trending way too abruptly for those 2 currencies; chance to be broken is high.

p.s. - "Japan’s FinMin Noda: To take decisive steps on FX if yen moves are excessive, disorderly" - this guy's on crack. Except for not moving at all, I fail to see what's more orderly then jpy crosses...
  • #97,705
  • Jul 1, 2011 7:51am Jul 1, 2011 7:51am
Happy weekend, partner.
----------------------------- Discipline makes the difference.
  • #97,706
  • Jul 1, 2011 8:45am Jul 1, 2011 8:45am
Quoting 5.25

Speaking of Gold....
I'm on the break of the weekly BEOB and break of the 1,500. Let's see how far down it can go.
  • #97,707
  • Jul 1, 2011 9:16am Jul 1, 2011 9:16am
here is a 30min trade on the euro usd I took before the holiday weekend.

Happy canada day to our neighbors of the north and have a safe and happy 4th to my fellow USers. And to my friends around the world have a happy weekend
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 47 KB
  • #97,708
  • Jul 1, 2011 9:18am Jul 1, 2011 9:18am
Alot of interesting weekly bars shaping up. Especially on the chf pairs. Looks like I'll have some charts to review over the holiday weekend.
  • #97,709
  • Jul 1, 2011 9:18am Jul 1, 2011 9:18am
Quoting mbqb11
here is a 30min trade on the euro usd I took before the holiday weekend.

Happy canada day to our neighbors of the north and have a safe and happy 4th to my fellow USers. And to my friends around the world have a happy weekend
Very nice! and informative example!
Thank you very much and have a happy weekend!
  • #97,710
  • Jul 1, 2011 9:55am Jul 1, 2011 9:55am
Quoting mbqb11
here is a 30min trade on the euro usd I took before the holiday weekend.

Happy canada day to our neighbors of the north and have a safe and happy 4th to my fellow USers. And to my friends around the world have a happy weekend
Hi Mike, So nice a trade and example!
Could you give some idea on how to "let the profit run" and "without being scared out by those trouble area"? I saw you have lot of successful trading on price run, have a nice holiday.
----------------------------- Discipline makes the difference.
  • #97,711
  • Jul 1, 2011 10:48am Jul 1, 2011 10:48am
Quoting CavinK
Hi Mike, So nice a trade and example!
Could you give some idea on how to "let the profit run" and "without being scared out by those trouble area"? I saw you have lot of successful trading on price run, have a nice holiday.
Hey Cavin

For me it always comes back to the strength of a setup. The stronger we wait for our setups the more likely minor first areas aren't going to scare me out. We don't have to be all or none. I like to reduce my stop down as these trouble areas are hit or broken.

Most people simply are not playing the highest quality setups so then you MUST be concerned with the very first trouble areas.

If you wait for the great ones it becomes a lot easier

Have a great weekend
Mike
  • #97,712
  • Jul 1, 2011 11:14am Jul 1, 2011 11:14am
Thank you very much for sharing this trade

Cheers
Andreas

Quoting mbqb11
here is a 30min trade on the euro usd I took before the holiday weekend.

Happy canada day to our neighbors of the north and have a safe and happy 4th to my fellow USers. And to my friends around the world have a happy weekend
  • #97,713
  • Jul 1, 2011 11:35am Jul 1, 2011 11:35am
Hi,

I am trying to analyze why this demo trade was a looser (in order to get better at it hopefully)...
This was a daily pinbar on AUDUSD.
We had convergence with 50% fib, and a BRN at 1.0700.
Moreover, I think there was divergence so the setup looked good to me.

My main concern was the break of the downtrend with this 2 huge bars before the pinbar.

But I was expecting the FTA to be in the region of the blue square.

Unfortunately we have not even been close, so I could not move my risk to BE.

Result: Full bar loss...

Could a senior member enlight me?

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 22 KB
  • #97,714
  • Jul 1, 2011 11:48am Jul 1, 2011 11:48am
Quoting Lapin
Could a senior member enlight me?
It's just one of those trades that didn't work out. I thought it was a nice setup too but I didn't have a pinbar on my chart due to my daily forming at a different time.

Just how it is sometimes.
Mr. Trend
  • #97,715
  • Jul 1, 2011 11:50am Jul 1, 2011 11:50am
Quoting mbqb11
here is a 30min trade on the euro usd I took before the holiday weekend.

Happy canada day to our neighbors of the north and have a safe and happy 4th to my fellow USers. And to my friends around the world have a happy weekend
30 minute. Pfffft...
Mr. Trend
  • #97,716
  • Jul 1, 2011 12:02pm Jul 1, 2011 12:02pm
Quoting Donkey
Not a professional trader by any stretch....mostly demo for last year +. I'll give my 2 cents on why most people may not trade monthly - especially starting out - and probably should. Trading monthly gives you time to make good decisions. I think it's lack of patience and discipline that lead newbies (me for sure) away from higher TFs. If I want to use Mike's three bar trailing stop method on a monthly trade, I have to wait 3 months to do so. It's difficult for me not to want to "tinker" with a trade once I'm in - and it's hard to...

Thank you!
  • #97,717
  • Jul 1, 2011 12:06pm Jul 1, 2011 12:06pm
Quoting Lapin
Hi,
I am trying to analyze why this demo trade...
My main concern was the break of the downtrend with this 2 huge bars before the pinbar....
from a senior newbie...

in one word, the answer is : trend.
actually, u already had an idea: see the underlined sentence above: big bullish bars vs a small PB.

moreover, IMHO , that's not a proper way of using & plotting indicator div. (u should plot div from the MACD 'humps'. in this case, the MACD humps where below zero [since price was making lower lows prior the bullish bars]
http://www.babypips.com/school/divergence-trading.html
Quote
Unfortunately we have not even been close, so I could not move my risk to BE.
u dont have to be rigid: if u think/feel price has undergone a dramatic change/or "something's not right", u could opt to close the trade ASAP. (of course u cant make quick decisions if u arent able to monitor you trade)

Quoting Mr Trend
30 minute. Pfffft...
nice to have u here Sir.
the "FF oldies" are coming back?
  • #97,718
  • Jul 1, 2011 12:16pm Jul 1, 2011 12:16pm
eur/gbp is offering an opportunity for the brave.

resistance with rejection as a pinbar.
Attached Image (click to enlarge)
Click to Enlarge Name: eg5.gif Size: 23 KB
meine augen sind die sterne
  • #97,719
  • Jul 1, 2011 12:35pm Jul 1, 2011 12:35pm
Quoting supremeChaos
the "FF oldies" are coming back?
Yeah, we tend to lounge around from time to time... I've been bored lately, so I figured I'd start my own PA thread...
Mr. Trend
  • #97,720
  • Jul 1, 2011 2:38pm Jul 1, 2011 2:38pm
Quoting Mr Trend
30 minute. Pfffft...
hey bud
117 traders viewing now