james16 Chart Thread | Page 4911 | 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

  • #98,201
  • Jul 11, 2011 7:36pm Jul 11, 2011 7:36pm
Quoting halfstep
any body took the trade, what do you guys think of this? Mike? (please click on my chart to get a closer look)

http://www.forexfactory.com/attachme...4&d=1310427501

Just my thoughts:

If you like it then roll with it. The important thing is to hone your skills and trust your self and your trade plan.

I traded this pair, but it was a sell off of the daily. I had a pending order that filled, but I closed due to the uncertainty of the trade. I still think that it is likely headed lower. To buy right now would be one hell of a countertrend trade. This is especially true due to the fact that this is not a reaction off of any BRN/major support and the close is what I would consider weak being lower than the open. The reason that I believe that it is headed lower is two fold: first there is a down trend line on the daily and the other reason is there is some fairly serious resistance for it to head up. I see two lines on the 4 hr charts and it has been respecting both of them so far.

Here is the daily with the downward TL:
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf daily 7-12.gif Size: 29 KB


And the 4 Hr with the grey PPZ and the smaller more recent S/R area:
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf 4hr 7-12.gif Size: 36 KB
  • #98,202
  • Jul 11, 2011 7:47pm Jul 11, 2011 7:47pm
Quoting halfstep
any body took the trade, what do you guys think of this? Mike? (please click on my chart to get a closer look)
technically, it didn't break the nose so no entry yet.
"market feeling" wise - well, it held unexpectedly well given today's massacre, but in current environment a bet against chf...

shrug, might be the bottom, the risk is small; I didn't like it(given the current electoral exercise with debt limit).

Probably 0.845-0.847 fta.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfd1.JPG Size: 151 KB
  • #98,203
  • Jul 11, 2011 9:00pm Jul 11, 2011 9:00pm
Quoting snowly
right, 85.3 was relevant two weeks ago - or three? I think so, I remember I kept short 1/3 85.05, another at .15 and another at .25 - it was .34 or .38 or something a previous high - don't have a chart nearby.

regarding 86.3 - I think a 1st test should be in 1h - they expect no less than a whooping 4.6% increase(after a 4.8% increase last month) - hmm...
Are you still in this AUDJPY trade ? It hit my target at 85 and I am in wait mode for the next one..

Looks like it has momentum to go upto 84.40..
  • #98,204
  • Jul 11, 2011 9:23pm Jul 11, 2011 9:23pm
Quoting cprao
Are you still in this AUDJPY trade ? It hit my target at 85 and I am in wait mode for the next one..

Looks like it has momentum to go upto 84.40..
out both aud/usd and aud/jpy; I thought it'd last ~1 week. It lasted 2 days... I'm more than happy. Last closed 5 mins ago.

It takes courage to be a pig and I was always rather cowardly(and actually I started having some success when I accepted that). And ok, was my bday and wanted to take profit before I go to sleep(I know, pretty dumb, but hey, it's once/year...). And it's 5am...

pity I missed the eur ones, but barely watched today till evening. I missed very good opportunities - damn good day, but can't have all(irking nevertheless).
  • #98,205
  • Jul 11, 2011 9:30pm Jul 11, 2011 9:30pm
Took this touch trade for my first trade of July. Waited for a 4 hour close below below this daily LCS then entered on a retest targeting the .4000 BRN. Blew right through my target.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ex1.png Size: 54 KB
Click to Enlarge Name: ex.gif Size: 18 KB
  • #98,206
  • Jul 11, 2011 10:03pm Jul 11, 2011 10:03pm
Quoting snowly
out both aud/usd and aud/jpy; I thought it'd last ~1 week. It lasted 2 days... I'm more than happy. Last closed 5 mins ago.

It takes courage to be a pig and I was always rather cowardly(and actually I started having some success when I accepted that). And ok, was my bday and wanted to take profit before I go to sleep(I know, pretty dumb, but hey, it's once/year...). And it's 5am...

pity I missed the eur ones, but barely watched today till evening. I missed very good opportunities - damn good day, but can't have all(irking nevertheless).
  • #98,207
  • Jul 11, 2011 10:07pm Jul 11, 2011 10:07pm
Hi guy's . How do i post a chart?
  • #98,208
  • Jul 11, 2011 10:10pm Jul 11, 2011 10:10pm
Quoting Rockie
Hi guy's . How do i post a chart?
Try this post, see if it helps

http://www.forexfactory.com/showthre...13#post4696113

Sorry wrong link, it should work now
  • #98,209
  • Jul 11, 2011 10:21pm Jul 11, 2011 10:21pm
Quoting J.W. Holmes
Try this post, see if it helps

http://www.forexfactory.com/showthre...13#post4696113

Sorry wrong link, it should work now
Thank's Holmes. I'll give it a try.
  • #98,210
  • Jul 11, 2011 10:21pm Jul 11, 2011 10:21pm
Quoting eswap0
Hi P,
My mistake was that I was switching from one profile to another while J16Manager was running.
Generally speaking, most scripts need the chart of the pair to be open in order to work properly.
Now I keep an MT4 session for charting and another one for trading, with just one profile permanently open.
Hope this helps,

jm

Hi eswap0

Thank you very much for help

Regards.
polundra
  • #98,211
  • Jul 11, 2011 10:21pm Jul 11, 2011 10:21pm
Quoting J.W. Holmes
Took this touch trade for my first trade of July. Waited for a 4 hour close below below this daily LCS then entered on a retest targeting the .4000 BRN. Blew right through my target.
Hey Holmes well done, I took it further up as I believed this had a trend resistance. I took the trade from 1.42100 and have maintained the trade since. I think the next 2, maybe 3 days will prove lucrative and I think this still has another 1500 - 2000 pips before it retraces from the 1.37350 mark. I think there will be some hefty resistance at that point.
Originally I posted it would hit the current mark within 5/6 days and that was about 5 or 6 days ago, so lets see how well I fair with this trade.
Be warned though, with such short pressure on EUR/USD at the moment, I am doubtful that the reversal will carry too far, maybe about 23%, potentially 50% but I think you'd be lucky with 50%.
I think overall the EUR/USD is in for a tonne of short action for the next few months to be fair.
  • #98,212
  • Jul 11, 2011 10:31pm Jul 11, 2011 10:31pm
Quoting Matski
Hey Holmes well done, I took it further up as I believed this had a trend resistance. I took the trade from 1.42100 and have maintained the trade since. I think the next 2, maybe 3 days will prove lucrative and I think this still has another 1500 - 2000 pips before it retraces from the 1.37350 mark. I think there will be some hefty resistance at that point.
Originally I posted it would hit the current mark within 5/6 days and that was about 5 or 6 days ago, so lets see how well I fair with this trade.
Be warned though, with such short pressure...
Nice, I hope that works out for you. I am a lot more bearish now that the May lows have been broken. It is sitting on a monthly HCR right now so I'll look to short again with a break and retest of that area as long as I am available to take the trade.

Best of luck

Jacob
  • #98,213
  • Jul 11, 2011 10:35pm Jul 11, 2011 10:35pm
Quoting J.W. Holmes
Nice, I hope that works out for you. I am a lot more bearish now that the May lows have been broken. It is sitting on a monthly HCR right now so I'll look to short again with a break and retest of that area as long as I am available to take the trade.

Best of luck

Jacob
No probs.

Should have clarified in my post though, the reversal from the current short trend from the 1.37350 mark won't last long (23/50% max!) as your right in assuming this is very bearish currently, will last for some time now.
  • #98,214
  • Jul 11, 2011 10:57pm Jul 11, 2011 10:57pm
Quoting Matski
No probs.

Should have clarified in my post though, the reversal from the current short trend from the 1.37350 mark won't last long (23/50% max!) as your right in assuming this is very bearish currently, will last for some time now.
I've got the .3735 area on my chart as a good PPZ level. You could be right, we shall see. I am a BRN guy so I applaud you for holding that monster short through the .4000 level, especially if it is a live trade I would have closed that sucker and been on my patio enjoying a cold brew by now.
  • #98,215
  • Jul 11, 2011 10:58pm Jul 11, 2011 10:58pm
Quoting halfstep
any body took the trade, what do you guys think of this? Mike? (please click on my chart to get a closer look)

Hey Half

Be real careful with those bars. Since it is technically not a pinbar, this gives us information. The lack of strength in that close can be a sign of weakness. It doesn't mean price CAN'T go up. But we want to look for the real strong opportunities and these can give people a lot of trouble. I like your location though and that is very very crucial. The bars are our trigger points, but how they look/close is very important to me personally. When that second bar closes, that is actually a stronger bullish sign then the almost pin

Thanks for posting the chart
Mike
  • #98,216
  • Jul 11, 2011 11:12pm Jul 11, 2011 11:12pm
Quoting J.W. Holmes
I've got the .3735 area on my chart as a good PPZ level. You could be right, we shall see. I am a BRN guy so I applaud you for holding that monster short through the .4000 level, especially if it is a live trade I would have closed that sucker and been on my patio enjoying a cold brew by now.
It was easy when it broke the bottom trend resistance. Most people IMO would not attribute this to a typical H&S looking chart, but its never a straight line scenario (even my trend lines!)
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1 - eurusd.jpg Size: 107 KB
  • #98,217
  • Jul 11, 2011 11:28pm Jul 11, 2011 11:28pm
Debating long and hard if I should take full profit here or keep a H4 bar break stop...the support has some pretty strong confluences
Attached Image (click to enlarge)
Click to Enlarge Name: es.png Size: 84 KB
  • #98,218
  • Jul 11, 2011 11:40pm Jul 11, 2011 11:40pm
Hello all. I am strictly taking advice, and demoing for the next 3months on 4hr and higher TF only. Please feel free to critique and reply to this trade.

My thinking was the following. A VERY nice 2week pinbar formed, confirmed with bearish oustide bar on daily, further confirmed on 4hr. Not sure how this one will play out, but it is already significantly profitable, and can it really be this easy... (tongue in cheek comment for sure).

Kevin
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eg_weekly.gif Size: 14 KB
Click to Enlarge Name: eg_daily.gif Size: 12 KB
Click to Enlarge Name: eg_4hr.gif Size: 11 KB
  • #98,219
  • Jul 12, 2011 1:10am Jul 12, 2011 1:10am
Quoting kevins
Hello all. I am strictly taking advice, and demoing for the next 3months on 4hr and higher TF only. Please feel free to critique and reply to this trade.

My thinking was the following. A VERY nice 2week pinbar formed, confirmed with bearish oustide bar on daily, further confirmed on 4hr. Not sure how this one will play out, but it is already significantly profitable, and can it really be this easy... (tongue in cheek comment for sure).

Kevin

Glad it worked out for you but, that is not a H4 bar I would have taken for the following reasons.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.gif Size: 48 KB
  • #98,220
  • Jul 12, 2011 3:37am Jul 12, 2011 3:37am
Quoting mbqb11
I might over think myself on this one, but this could break us out
What a trade!
103 traders viewing now