james16 Chart Thread | Page 5044 | 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

  • #100,861
  • Aug 24, 2011 1:02pm Aug 24, 2011 1:02pm
Quoting mbqb11
we just had to wait a bit longer, but we got the signal on the 4hr beob
Y'know, I was watching that chart after your post the other day, and I saw that 4hr bar form. There was just too much traffic around it for me though - a poorly chosen entry and that'll just bounce right back at me. So kudos to you Mike, I guess this is why you're where you are and I'm where I am.
When the going gets weird, the weird turn pro.
  • #100,862
  • Aug 24, 2011 1:10pm Aug 24, 2011 1:10pm
Quoting nonethewisa
Ive been lurking here for quite a few weeks learning, reading etc. So thanks to all posters, ive learnt a hell of a lot in such a short time.

I have finally decided to post a chart of a potential trade that im considering so please feel free to criticise/advise.

Thanks
NTW
Looks good, but I think Jim would tell you to watch the top of yesterday's bar like a hawk. The top of that bar lines up with the low of the one three days before. Do you have divergence showing?
When the going gets weird, the weird turn pro.
  • #100,863
  • Aug 24, 2011 1:20pm Aug 24, 2011 1:20pm
Quoting stark1
Looks good, but I think Jim would tell you to watch the top of yesterday's bar like a hawk. The top of that bar lines up with the low of the one three days before. Do you have divergence showing?
yes very very good. If it closes up much stronger it could change the entire trade dynamics


Also a big welcome NTW


Mike
  • #100,864
  • Aug 24, 2011 1:21pm Aug 24, 2011 1:21pm
Quoting stark1
Y'know, I was watching that chart after your post the other day, and I saw that 4hr bar form. There was just too much traffic around it for me though - a poorly chosen entry and that'll just bounce right back at me. So kudos to you Mike, I guess this is why you're where you are and I'm where I am.
It's time and practice, that's it. Many of us were watching this. I posted this area in the PF , then someone else actually posted the updated chart look and others were posting the same thing. So we all saw it and just anticipated and waited for the tip off.

You're doing great stark

Mike
  • #100,865
  • Aug 24, 2011 1:22pm Aug 24, 2011 1:22pm
Quoting stark1
Looks good, but I think Jim would tell you to watch the top of yesterday's bar like a hawk. The top of that bar lines up with the low of the one three days before. Do you have divergence showing?

Aha, thanks for the quick reply and thanks for pointing that out, i hadn't spotted that. There's no divergance, not that i can see anyway.

Im still not sure whether to take the trade or not so i guess i'll sleep on it.

Thanks again
No more DOH! trades
  • #100,866
  • Aug 24, 2011 1:45pm Aug 24, 2011 1:45pm
Are you guys aware of any pin bar screener/scanner to take the donkey work out of finding prospective trades. I'm aware that the shape of the candle/bar is not the sole important factor and a lot is dependant on its position relative to support, resistance, trend lines, pivots, MA etc. when considering trades but if it was possible to scan the major indices, commodities and forex pairs for pin bars the results could then be analysed and particular trades could be cherry picked. I have tried using ProRealTime but find that the searches are not precise enough.

Cheers
NTW
No more DOH! trades
  • #100,867
  • Aug 24, 2011 2:10pm Aug 24, 2011 2:10pm
Quoting mbqb11
It's time and practice, that's it. Many of us were watching this. I posted this area in the PF , then someone else actually posted the updated chart look and others were posting the same thing. So we all saw it and just anticipated and waited for the tip off.

You're doing great stark

Mike
I got in on this one as well. I am so glad i signed up for the PF, its so worth it. Rock on Mike
  • #100,868
  • Aug 24, 2011 2:22pm Aug 24, 2011 2:22pm
Quoting mbqb11
It's time and practice, that's it. Many of us were watching this. I posted this area in the PF , then someone else actually posted the updated chart look and others were posting the same thing. So we all saw it and just anticipated and waited for the tip off.

You're doing great stark

Mike
Appreciate that Mike, thank you.
When the going gets weird, the weird turn pro.
  • #100,869
  • Aug 24, 2011 2:25pm Aug 24, 2011 2:25pm
Quoting nonethewisa
Aha, thanks for the quick reply and thanks for pointing that out, i hadn't spotted that. There's no divergance, not that i can see anyway.

Im still not sure whether to take the trade or not so i guess i'll sleep on it.

Thanks again
Hey man, check Mike's (mbqb11) reply to you a few posts back: an infinitely better insight than mine. Good luck with the trade if you take it, but leave it if you're not sure - there'll be plenty more.
When the going gets weird, the weird turn pro.
  • #100,870
  • Aug 24, 2011 2:39pm Aug 24, 2011 2:39pm
Quoting mbqb11
yes very very good. If it closes up much stronger it could change the entire trade dynamics


Also a big welcome NTW


Mike

Thanks for the welcome Mike
Im afraid im going to appear a bit thick here but im not sure i understand what you mean by, "if it closes up much stronger...."

NTW
No more DOH! trades
  • #100,871
  • Aug 24, 2011 2:59pm Aug 24, 2011 2:59pm
Quoting nonethewisa
Thanks for the welcome Mike
Im afraid im going to appear a bit thick here but im not sure i understand what you mean by, "if it closes up much stronger...."

NTW
Hey NTW

See if this chart helps
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 43 KB
  • #100,872
  • Aug 24, 2011 3:00pm Aug 24, 2011 3:00pm
Quoting nonethewisa
Are you guys aware of any pin bar screener/scanner to take the donkey work out of finding prospective trades. I'm aware that the shape of the candle/bar is not the sole important factor and a lot is dependant on its position relative to support, resistance, trend lines, pivots, MA etc. when considering trades but if it was possible to scan the major indices, commodities and forex pairs for pin bars the results could then be analysed and particular trades could be cherry picked. I have tried using ProRealTime but find that the searches are...
What are you trying to say NWT??? Donkey work's the best kinda work....
  • #100,873
  • Aug 24, 2011 3:03pm Aug 24, 2011 3:03pm
Quoting Donkey
What are you trying to say NWT??? Donkey work's the best kinda work....

When the going gets weird, the weird turn pro.
  • #100,874
  • Aug 24, 2011 3:11pm Aug 24, 2011 3:11pm
Heres a chart for Rangold resources, there's divergence on the MACD and i am considering taking a short on the re-test of the red resisitance line but am having second thoughts because of all the circled areas of congestion. Is my apprehension about taking this trade correct?

Cheers
NTW
Attached Image (click to enlarge)
Click to Enlarge Name: Rangold Res 20110824.PNG Size: 125 KB
No more DOH! trades
  • #100,875
  • Aug 24, 2011 3:15pm Aug 24, 2011 3:15pm
Quoting Donkey
What are you trying to say NWT??? Donkey work's the best kinda work....


Haha excellent
No more DOH! trades
  • #100,876
  • Aug 24, 2011 3:19pm Aug 24, 2011 3:19pm
Quoting mbqb11
we just had to wait a bit longer, but we got the signal on the 4hr beob
Hey Mike, are you waiting for the retest of the trendline? or you already enter a position on the break of the 4HR beob?
  • #100,877
  • Aug 24, 2011 3:23pm Aug 24, 2011 3:23pm
Quoting thermobee
I got in on this one as well. I am so glad i signed up for the PF, its so worth it. Rock on Mike
  • #100,878
  • Aug 24, 2011 3:23pm Aug 24, 2011 3:23pm
Quoting TransPorter
Hey Mike, are you waiting for the retest of the trendline? or you already enter a position on the break of the 4HR beob?
Hey TP

Yes my entry was under the 4hr beob, based on the pattern I had shown in that previous post(quoted one). Slightly moved to allow for the change in time

Best
Mike
  • #100,879
  • Aug 24, 2011 3:32pm Aug 24, 2011 3:32pm
Quoting mbqb11
Hey TP

Yes my entry was under the 4hr beob, based on the pattern I had shown in that previous post(quoted one). Slightly moved to allow for the change in time

Best
Mike
Got it mike, thank you!
  • #100,880
  • Aug 24, 2011 3:33pm Aug 24, 2011 3:33pm
Quoting deankenny21
the charts been pretty messy during this month, but i managed to grab a A trade, not quite a plus, but very close in my book. as this was shouting out the screen to me to trade it, well in my books anyway.

reasons for taking, tail of pinbar (highlighted in blue) has bounced off the lovely downwards trendline, it had bounced off 50 fib retrace of the latest move up, fta was a nice 50 odd pips away which is where price is currently, i have taken profits, and left a small portion on the table

any seniors got anything to add or say about this...

Looks to be a decent trade. I would however say that the TL that you placed up seems to be a little too fitted for my tastes. That having been said it sounds like you had a solid plan and it worked out in your favor. Cannot ask for much more than that...
40 traders viewing now