james16 Chart Thread | Page 5242 | 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

  • #104,821
  • Nov 29, 2011 6:26pm Nov 29, 2011 6:26pm
I would like to suggest an irregular Pair. Not to Trade but, moreso, to Observe.

EURCAD

Dig & Ye shall find.

B
  • #104,822
  • Nov 29, 2011 6:35pm Nov 29, 2011 6:35pm
Quoting Bemac
I would like to suggest an irregular Pair. Not to Trade but, moreso, to Observe.

EURCAD

Dig & Ye shall find.

B
You got me...

Is is partly to do with leaving this huge ranging box and potentially into space?
Attached Image (click to enlarge)
Click to Enlarge Name: 147_eurcad d1.jpg Size: 85 KB
  • #104,823
  • Nov 29, 2011 6:36pm Nov 29, 2011 6:36pm
Quoting Bemac
I would like to suggest an irregular Pair. Not to Trade but, moreso, to Observe.

EURCAD

Dig & Ye shall find.

B
I looked at this pair earlier so I'll take a shot....On daily I see a break from the current consolidation into previous consolidation. On 4H I see a series of Lower Highs and Lower Lows, culmination with a very nice continuation BEOB out of the consolidation zone. I think we could be well on the way to 1.3500 or much lower.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: a.gif Size: 28 KB
Click to Enlarge Name: a1.gif Size: 25 KB
Click to Enlarge Name: a2.gif Size: 27 KB
  • #104,824
  • Nov 29, 2011 6:58pm Nov 29, 2011 6:58pm
Quoting Donkey
I looked at this pair earlier so I'll take a shot....On daily I see a break from the current consolidation into previous consolidation. On 4H I see a series of Lower Highs and Lower Lows, culmination with a very nice continuation BEOB out of the consolidation zone. I think we could be well on the way to 1.3500 or much lower.
You are Both correct in Observations.
1) Both Short to ~1.34
2) From different views methinks.
CAUTION of the 1.36xx Area.
Be Capeable & mentally prepare to witness Profits erode at ~ 1.36xx

Bottom Line:
I agree; 1.34 looks immenenent UNLESS EUR is considered Stronger than CAD
Bias aside, I'll speculate on the Loonie
ie: South. But watch the TrendLine. It could stop it halfway at ~ 1.36xx

B
Note to self: Discuss TrendLines & Bot to Bot often Fails.

Trade to Increase Cargo.
  • #104,825
  • Nov 29, 2011 7:39pm Nov 29, 2011 7:39pm
Quoting 5.25
Touch trade, first time back entry purely on the strength of a level. Support turned resistance.

There's a 1h LCS there too for any Jarroo followers. (Not that I'm promoting lower time frames or anything).

Let me know if I'm cluttering the thread here people.
5,
Awesome quick one here! Is the dotted line your SL and the solid black line your target?
  • #104,826
  • Nov 29, 2011 7:47pm Nov 29, 2011 7:47pm
Quoting jarroo
Hey Fx7877, for TTs, PA setups or breakouts I do tend to take partial profits at the targets. It really depends on what I'm trading into . .meaning, is there Space or traffic in my path. . .Am I trading into consolidation or trading out of consolidation, etc.

I will use the targets to manage my trade and/or trail my stops. I will reduce my risk once Price start moving in my direction, again it depends on the type of trade that I am in.


Jim
Thanks Jim. I'm guessing this is what u will generally do and here is a summary:

Trading into consolidation OR traffic in path: Close all at target?

Space in setup OR trading out of consolidation: Partial at target and trail since there is more room to run?
  • #104,827
  • Nov 29, 2011 7:50pm Nov 29, 2011 7:50pm
Cargo: + or Minus?
  • #104,828
  • Nov 29, 2011 8:03pm Nov 29, 2011 8:03pm
Mike,
As a follow up on your USDCAD breakout trade earlier, there is now a PB formed right above where the breakout is i.e 1.03. If it breaks above PB high wld u consider this a good setup for breakout-pullback type of trade?
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad_breakout_followup.gif Size: 24 KB
  • #104,829
  • Nov 29, 2011 8:07pm Nov 29, 2011 8:07pm
I've ben in this trade for going on four day's now. Im very happy with the trade. I was able to get in at a swing high with price action on the 1H chart. It's not easy for me to determim the mager swing points yet. ( A weekly trend line helps) I don't know how much more it's going to consolidate into itself . It wouldent hurt if it had one more swing high in it.
Oh.. Bemac. I've ben reading and watching you'r webinares in the privet thred, Thats graet stuff. Make me think outside the box.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.gif Size: 23 KB
  • #104,830
  • Nov 30, 2011 12:03am Nov 30, 2011 12:03am
eur/aud 4hr pb seems to be working out nicely
  • #104,831
  • Nov 30, 2011 12:55am Nov 30, 2011 12:55am
AUD/CAD looks like a potentially interesting bar.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 107 KB
  • #104,832
  • Nov 30, 2011 1:55am Nov 30, 2011 1:55am
Quoting Fx7877
5,
Awesome quick one here! Is the dotted line your SL and the solid black line your target?
Hi there yoga instructor

Slightly misleading chart:

- The solid line at the bottom is a Weekly Lowest Close of Support level, which did not feature in this trade.
- The two dotted lines are Daily Lowest Close of Support Levels. The closest one to my entry is not a stop loss but another area to potentially watch for sell signals. I had my stop a few pips higher above the bar that broke my level. (1.34615ish)
- The thick solid line is my level based on the number of touches that price tested it.

I use MT4 for charting and Oanda (and others) for execution, so I generally only ever have areas of interest on my charts.

Final target WOULD have been Friday close at around 1.3244 if not for my job and me mobile trading! Nice R:R if it reaches it.
  • #104,833
  • Nov 30, 2011 2:08am Nov 30, 2011 2:08am
Quoting Donkey
I looked at this pair earlier so I'll take a shot....On daily I see a break from the current consolidation into previous consolidation. On 4H I see a series of Lower Highs and Lower Lows, culmination with a very nice continuation BEOB out of the consolidation zone. I think we could be well on the way to 1.3500 or much lower.

Yeah, me too, provided we can break out of this rock and a hard place zone.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 93 KB
Click to Enlarge Name: picd.jpg Size: 125 KB
  • #104,834
  • Nov 30, 2011 3:15am Nov 30, 2011 3:15am
Quoting Fx7877
Mike,
As a follow up on your USDCAD breakout trade earlier, there is now a PB formed right above where the breakout is i.e 1.03. If it breaks above PB high wld u consider this a good setup for breakout-pullback type of trade?
hiya FX, i'm not mike and i don't know if this is a good setup or not,but i took that trade
my entry point was the breakout of the 1 hour pinbar, took about 50 pips (on demo account still) there is also inside bar breakout setup on H4 if you notice
  • #104,835
  • Nov 30, 2011 3:25am Nov 30, 2011 3:25am
Gu H4 is interesting, we just broke out of the downward channel and looks like, it is getting retested.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 113 KB
  • #104,836
  • Edited 4:23am Nov 30, 2011 3:37am | Edited 4:23am
Quoting scooterboy
hiya FX, i'm not mike and i don't know if this is a good setup or not,but i took that trade
my entry point was the breakout of the 1 hour pinbar, took about 50 pips (on demo account still) there is also inside bar breakout setup on H4 if you notice
Hi scooterboy,

I also took that trade, but with risk flows slowly coming back into equities indexes and futures across the board, chances that my SL will be hit

UPDATE:

I just closed my trade... for a loss. Because I was so eager to trade according to my setup and bias, I completely miss out a rule; the bullish pinbar must close above open, since this bar closed below open on my chart, it isn't a pinbar.

Since no pinbar = no trade, I closed my position immediately at a loss
"Nature's law" is called "Reason". When perfectly understood by human it is
  • #104,837
  • Nov 30, 2011 5:31am Nov 30, 2011 5:31am
Took off with this H1 IB.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 116 KB
  • #104,838
  • Nov 30, 2011 7:25am Nov 30, 2011 7:25am
Quoting Fx7877
Mike,
As a follow up on your USDCAD breakout trade earlier, there is now a PB formed right above where the breakout is i.e 1.03. If it breaks above PB high wld u consider this a good setup for breakout-pullback type of trade?
Hey Fx

For me this would not qualify as there is no breakout pattern. I look for clean breakout patterns when playing breakouts. Wedges, horizontals, clean TLs etc. Also if you notice the close on that bar and what we just spoke about closes as well

Careful out there folks things are going to be volatile

Mike
  • #104,839
  • Nov 30, 2011 7:34am Nov 30, 2011 7:34am
Quoting mbqb11
Hey Fx

For me this would not qualify as there is no breakout pattern. I look for clean breakout patterns when playing breakouts. Wedges, horizontals, clean TLs etc. Also if you notice the close on that bar and what we just spoke about closes as well

Careful out there folks things are going to be volatile

Mike
So Mike in your opinion is this the type of event that you just sit back and wait a day to see how everything works out? I can't see how I can pull anything close to a sure thing with all this craziness out there. I feel like I would be playing on hope more than logic.
A woman drove me to drink, and I forgot to thank her
  • #104,840
  • Nov 30, 2011 7:36am Nov 30, 2011 7:36am
Quoting simpleguy
So Mike in your opinion is this the type of event that you just sit back and wait a day to see how everything works out? I can't see how I can pull anything close to a sure thing with all this craziness out there. I feel like I would be playing on hope more than logic.
Hey SG

I don't really buy into all these puffing up by the govts, I never do. At the very end of the day I trade my charts. I am watching my same areas as before. What gets most people is they are jumping down to the 5min chart right now trying to not miss the next big ride. I expect volatility to now remain high, but that doesn't change anything I do from a chart standpoint

Hope that helps
mike
113 traders viewing now