james16 Chart Thread | Page 5202 | 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

  • #104,021
  • Nov 4, 2011 2:37pm Nov 4, 2011 2:37pm
Just found another formula from diallist:

True Leverage = Position Size / Account Size

That would be 2,700,000 / 100,000 = 27 , right? Which in turn would be awfully high?

Oh damn, I had hoped not having to worry about this since I'd leave the risk at x% no matter what and be done...
  • #104,022
  • Nov 4, 2011 2:47pm Nov 4, 2011 2:47pm
Quoting dropkick-cat
Just found another formula from diallist:

True Leverage = Position Size / Account Size

That would be 2,700,000 / 100,000 = 27 , right? Which in turn would be awfully high?

Oh damn, I had hoped not having to worry about this since I'd leave the risk at x% no matter what and be done...
Hey DK

Don't worry about true leverage. If you are working with a fixed %R per trade you are fine.

That's MM right there in a nutshell. Leverage(broker) only has to do with amount of margin you need to put aside for the trade. So using as high as offered by your broker just means less money you need to have aside for the trade(which has your fixed risk per trade eg: 1%)

Best
Mike
  • #104,023
  • Nov 4, 2011 3:24pm Nov 4, 2011 3:24pm
Quoting mbqb11
Don't worry about true leverage. If you are working with a fixed %R per trade you are fine.

That's MM right there in a nutshell.
Thank you, Mike!

Phew, that's about as much MM as my few-bit-processor can accommodate. The other stuff appears... demanding.

Gotta say though, the many aspects of forex, you have to love them. Peel off a shell and discover yet another brush to bushwhack through, if that makes any sense. So glad about the signposts (see post 1) and thankful to the people itt willing to point out the obvious (to them).

Thanks,
Alex
  • #104,024
  • Nov 4, 2011 3:28pm Nov 4, 2011 3:28pm
Quoting Rust
Hey Meshka ,
I like this EURJPY weekly setup, also Looking forward to it !

btw , does "meshka" mean "bear" or it just sound to me like one
Yes "meshka" means "bear" in Lithuanian

Lets try to sell higher next week this EJ thing
all is eternal - this is good news for people who loves bad news
  • #104,025
  • Nov 4, 2011 4:10pm Nov 4, 2011 4:10pm
Quoting Fx7877
Hi all,
I saw some of u using FTB, may I know what it stands for?

How do some of u get 2 day bar on your charts? Is there an option for u to do that? I'm using MT4 and it only has the standard 1, 15, 30min, 1hr, 4hr, 1D, 1W and 1M options.
Hi there,

FTB equals First Time Back. It is when you expect a support or resistance level to flip once it has been broken then retested for the first time. Resistance turned support, support turned resistance.

There are traders in FF who use this approach as their primary strategy as it can give a good risk to reward ratio (See this weeks charts).

1683.10 acted as resistance, price broke through, retested for the First Time Back, hey presto... resistance turned support.

It's usually better to find added confluence with these sort of trades e.g. fibs, big round numbers etc.

Hope this helps.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 113_gold_d1.jpg Size: 81 KB
Click to Enlarge Name: 119_gold_d1.jpg Size: 85 KB
Click to Enlarge Name: 120_gold_d1.jpg Size: 87 KB
  • #104,026
  • Nov 4, 2011 4:22pm Nov 4, 2011 4:22pm
Quoting Blackout
So, my newbie eyes think they are seeing an opportunity..... What do you guys think? Would going long on this be a wise decision? I see the pin bar......or I think I do, haha.
Hey Blackout

For me a Pin Bar has little credibility without the story. Best not to look at price action in isolation but where it sits in the bigger picture. Before you enter, ask yourself how are you going to manage this trade, where do I take profit, do I take partial profit, where is my first trouble area?...etc. You cannot do this without a larger overview of the market.

I may have strayed off topic, but I hope this helps.
  • #104,027
  • Nov 4, 2011 4:27pm Nov 4, 2011 4:27pm
Hi guys, how do you explain the retest mechanism in terms of market participants? What makes the price retest a level ?
Trading is a test match not a Twenty20.
  • #104,028
  • Nov 4, 2011 4:31pm Nov 4, 2011 4:31pm
Quoting decentchap
Hey T,

thanks man, its likely that you might have to change your name from 5.25 to DVD before I change mine..)
and before both of us Pin Bar will have to change his name to Outside bar..
Quoting AvanishDemo
or a blue-ray?

hehehe

Quoting Pinbar
Perhaps I shall change it to "Pin Head" and put the Pinbar handle up for auction. Any bidders LOL
I never thought this thread would offer as much support and information as it does. I chose a nondescript avatar and screen name and I'm stuck with it!

Dibs on PinBar, second to Yogi Bear who has joined us
  • #104,029
  • Nov 4, 2011 4:51pm Nov 4, 2011 4:51pm
Woke up in the night and took profit at this area and left the rest to run without moving to BE. Actually, as I took two thirds profit, I am actually at BE+ without moving the SL. As we know we often get a retest of the previous bar low on BUOB's &, in this case we have the 150 EMA as confluence for this retest. That is why I was reluctant to move the SL.

Let's see how it plays out but, this is now a totally stress free trade, whatever it decides to do.
Attached Image (click to enlarge)
Click to Enlarge Name: pic1.jpg Size: 154 KB
  • #104,030
  • Nov 4, 2011 6:03pm Nov 4, 2011 6:03pm
Quoting Pinbar
H1 BUEOB that never broke, IB that took us back down and the small PB that made this large move.

Just shows how these areas are pretty predictable.
Hello Pinbar

I can see a bearish small pinbar before the BUOB. Does that bar tells you to short if broken?, shows a continuation to the downside?, or you wait for the break and wait price for a retest of the area, and price action to confirm the break, and then enter the trade?

This is the GBP USD tarde you posted, 1Hr timeframe, when price was at 1,5880 ish

Thank you and best trading

Hector
  • #104,031
  • Nov 5, 2011 4:01am Nov 5, 2011 4:01am
Quoting Pinbar
Woke up in the night and took profit at this area and left the rest to run without moving to BE. Actually, as I took two thirds profit, I am actually at BE+ without moving the SL. As we know we often get a retest of the previous bar low on BUOB's &, in this case we have the 150 EMA as confluence for this retest. That is why I was reluctant to move the SL.

Let's see how it plays out but, this is now a totally stress free trade, whatever it decides to do.
Hi PB,

I noticed on your chart your MACD draws divergence. Is this indi available for others anywhere or would you be kind enough to post it here is possible?

Many thanks...
  • #104,032
  • Nov 5, 2011 4:29am Nov 5, 2011 4:29am
Quoting PinWing
Hello Pinbar

I can see a bearish small pinbar before the BUOB. Does that bar tells you to short if broken?, shows a continuation to the downside?, or you wait for the break and wait price for a retest of the area, and price action to confirm the break, and then enter the trade?

This is the GBP USD tarde you posted, 1Hr timeframe, when price was at 1,5880 ish

Thank you and best trading

Hector

Well, that small PB closed below the 365 EMA and did actually hit its target and a bit more.
We were looking for bullish PA but price had to go down before it could go up as, price does not move in straight lines and tends to consolidate before changing direction.
Please remember J16s rules for new people though and trade the Weekly & Daily Time frames.
Attached Image (click to enlarge)
Click to Enlarge Name: pic pa.jpg Size: 281 KB
  • #104,033
  • Nov 5, 2011 4:31am Nov 5, 2011 4:31am
Quoting mogulmedia
Hi PB,

I noticed on your chart your MACD draws divergence. Is this indi available for others anywhere or would you be kind enough to post it here is possible?

Many thanks...

Sure, here you go.
Attached File(s)
File Type: mq4 MACD_Divergence_V1.1.mq4   12 KB | 461 downloads
  • #104,034
  • Nov 5, 2011 5:02am Nov 5, 2011 5:02am
Quoting Pinbar
Sure, here you go.
Thanks buddy!
  • #104,035
  • Nov 5, 2011 5:11am Nov 5, 2011 5:11am
HELLO MIKE SIR

Which software you use for editing in MT4 and also i want BRN indicator which u are using in mt4

Thanks
  • #104,036
  • Nov 5, 2011 6:12am Nov 5, 2011 6:12am
Quoting featurelion
HELLO MIKE SIR

Which software you use for editing in MT4 and also i want BRN indicator which u are using in mt4

Thanks
Hey FL

I use snagit for the screen capture software.

I have attached the BRN indicator I use


Have a great weekend
Mike
Attached File(s)
File Type: mq4 Grid_v1_0.mq4   6 KB | 552 downloads
  • #104,037
  • Nov 5, 2011 2:48pm Nov 5, 2011 2:48pm
Quoting Pinbar
Well, that small PB closed below the 365 EMA and did actually hit its target and a bit more.
We were looking for bullish PA but price had to go down before it could go up as, price does not move in straight lines and tends to consolidate before changing direction.
Please remember J16s rules for new people though and trade the Weekly & Daily Time frames.
Thank you Pinbar
Sorry i didnt make myself clear (second language, lol), here I marked the pinbar i was referring to. How do you interpret this PA in this location, at this moment? Do you trade it short if low of the bar is broken?
Thank you for the advise, im actually trading only daily timeframe, lower tf is just too fast for me. Was wondering if this happens, no matter timeframe, how to interpret it, and how to trade it. My first thought was that it was an indication to go short.
Thank you
Hector
Attached Image (click to enlarge)
Click to Enlarge Name: PinBar.jpg Size: 27 KB
  • #104,038
  • Nov 5, 2011 3:52pm Nov 5, 2011 3:52pm
Hey guys,

if you are new/semi-new to this, I recommend you carefully watch this video. I think it explains extremely well what Jim is teaching us here..It is very kind of him to put that video on the guest section.
Jim's video:
http://www.james16group.us/Guests/vi...iningvideo.wmv

if the video is too advanced. Watch Mike's videos on space (http://www.james16group.us/Guests/vi...e%20basics.wmv) and pinbars(http://www.james16group.us/Guests/vi...troduction.wmv) first..
Trading is a test match not a Twenty20.
  • #104,039
  • Edited 7:02pm Nov 5, 2011 6:03pm | Edited 7:02pm
Quoting PinWing
Thank you Pinbar
Sorry i didnt make myself clear (second language, lol), here I marked the pinbar i was referring to. How do you interpret this PA in this location, at this moment? Do you trade it short if low of the bar is broken?
Thank you for the advise, im actually trading only daily timeframe, lower tf is just too fast for me. Was wondering if this happens, no matter timeframe, how to interpret it, and how to trade it. My first thought was that it was an indication to go short.
Thank you
Hector

The bar you pointed out is not actually a PB & also we want to look for a bearish PB at a SH.


The nose of the bar is lower than the high of the previous bar and the tip exceeds the low of it.

The main point is, we were looking for bullish PA at this area because of the price flips at this ZONE. SO, we are not interested in taking a trade into the strong area, we want to take the path of least resistance that price has and in this case, it was up. I was pointing out the other small PB just from the perspective of it possibly taking us down for a deeper pullback to the main zone.
We did not really see any great bullish PA here, we don't always.
The point of my original post was that we may see some bullish PA here.

Hope this helps, got to go to work soon.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 146 KB
Click to Enlarge Name: 2.jpg Size: 168 KB
Click to Enlarge Name: 4.jpg Size: 189 KB
  • #104,040
  • Edited 4:23am Nov 6, 2011 3:54am | Edited 4:23am
Quoting Pinbar
Sure, here you go.
Thanks for the indy, PB! Can you please also tell - it draws some trend lines in dashes, others in solid - what's the difference between them? I tried to google for the indy name but did not find the answer. Thanks!

UPDATE - oh, looks like i got the answer myself by looking at the charts. dashed lines seem to be reverse divergences - ie when price makes lower highs and MACD is making higher highs. please correct me if i am wrong.
30 traders viewing now