james16 Chart Thread | Page 5248 | 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

  • #104,941
  • Dec 4, 2011 8:30pm Dec 4, 2011 8:30pm
I've not run across an explanation for the MA's on Jim's charts and I'm sure I will as I keep reading. In the meantime, can someone tell me what the settings are for them? I think the slowest one is a 365 EMA, but I'm not entirely sure and I have no clue what the other one's are. If they were described in the videos, I surely missed it.

As I understand, the slowest one is used mainly for confluence, right?

EDIT: I was originally targeting a read of about 3000 posts (15 per page X 200 pages). Do you think that is sufficient to get a good overall handle on things? I'm sure I won't stop there and will continue absorbing more as I go, but for a solid initial grounding in the material?
  • #104,942
  • Dec 5, 2011 4:31am Dec 5, 2011 4:31am
Hey Pipskateer ,

EMAs are 365 and 150 . They can be used as confluence of support and resistance .

Welcome to the thread
  • #104,943
  • Dec 5, 2011 6:17am Dec 5, 2011 6:17am
I preferred the CADJPY when we got the first PB off that level. Thanks Jarroo
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy 5m 021211.gif Size: 19 KB
  • #104,944
  • Dec 5, 2011 10:53am Dec 5, 2011 10:53am
Short at break of inside bar E/CHF.
Any comments.
Attached Image (click to enlarge)
Click to Enlarge Name: echf-short.gif Size: 24 KB
  • #104,945
  • Dec 5, 2011 11:47am Dec 5, 2011 11:47am
Here is chart, possible pin bar for short entry.
Attached Image (click to enlarge)
Click to Enlarge Name: eur-short.gif Size: 21 KB
  • #104,946
  • Dec 5, 2011 11:55am Dec 5, 2011 11:55am
Quoting 786 trading
Short at break of inside bar E/CHF.
Any comments.
Hey 786

Just be very careful with these inside bars on smaller timeframes. They become much more difficult to dissect b/c of the nature of the bar. An inside bar is just a consolidation of the previous bars range(or smaller range then multiple bars). Because of the nature of lower timeframes like a 4hr chart they will occur very frequently(since the bar only represents 4hrs of data). This doesn't make them wrong to trade but like all of the lower timeframes they are what usually give most people trouble. This pair is hugely range bound(see the chat I posted on eur/chf ) so the likelihood for that choppiness to continue is high. Throw in a lack of confluence and it can make it very very tricky.

This isn't to say not to just a bit of a word on the pitfalls you may encounter by doing this. I suggest trading the more obvious inside bars off stronger daily/weekly areas.

This one has moved to the previous bars low which is our FTA in this case and also why it makes it tricky on the mgmt side of things

Take care
Mike
  • #104,947
  • Dec 5, 2011 3:35pm Dec 5, 2011 3:35pm
Quoting mbqb11
nice simple PA and confluence

BRN
Boxing
downtrend
Big beob
Strong close
Directional bias with gaps
price retraced to the BRN after the weekend. Notice the last bar high over to the left of the BEOB. So a logical spot to reduce half my risk on this trade(always important for me). Now I just look to the next trouble areas, using the same concepts of PPZ, patterns, RD numbers, etc.

Hope everyone had a nice weekend
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 32 KB
  • #104,948
  • Dec 5, 2011 5:36pm Dec 5, 2011 5:36pm
EURUSD: Like the way the Daily LCS levels are holding up. 4h PB helped confirm an entry short at 1.345560. 75% out, let's see if we can close last weeks gap... ("Damn Gaps")
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 151_eurusd d1.jpg Size: 95 KB
Click to Enlarge Name: 153_eurusd h4.jpg Size: 87 KB
Click to Enlarge Name: 152_eurusd h1.jpg Size: 82 KB
  • #104,949
  • Dec 5, 2011 5:54pm Dec 5, 2011 5:54pm
Quoting Rust
Hey Pipskateer ,

EMAs are 365 and 150 . They can be used as confluence of support and resistance .

Welcome to the thread
Thank you much!
  • #104,950
  • Dec 5, 2011 7:58pm Dec 5, 2011 7:58pm
Quoting Bemac
Hmm... Say hi to Osaka & Kyoto for me. I'd like a 15degree rise in tpmperature right now. (tough to feed the dogs when the water freezes in minutes.

SAFE TRIP PB.
B

Thanks B

I arrived safely and it was a good flight. Had too much to drink with friends last night though.

I think I need an alcoholic SL which is somewhat lower than the current 10 liters of beer. More coffee.
  • #104,951
  • Dec 5, 2011 8:23pm Dec 5, 2011 8:23pm
Quoting mbqb11
price retraced to the BRN after the weekend. Notice the last bar high over to the left of the BEOB. So a logical spot to reduce half my risk on this trade(always important for me). Now I just look to the next trouble areas, using the same concepts of PPZ, patterns, RD numbers, etc.

Hope everyone had a nice weekend
Mike
Hi Mike,
Wanted to clarify on your SL placement. Is dotted red line your SL?
OR your meant the high of the bar just left beside the BEOB? Thanks
  • #104,952
  • Dec 5, 2011 8:48pm Dec 5, 2011 8:48pm
Quoting Fx7877
Hi Mike,
Wanted to clarify on your SL placement. Is dotted red line your SL?
OR your meant the high of the bar just left beside the BEOB? Thanks
Hey Fx

The red line is my new stop loss which is protected by the brn, and the former high to the left of the beob

Best
Mike
  • #104,953
  • Dec 6, 2011 4:17am Dec 6, 2011 4:17am
Hello guys,

here is a trade I took today. It is AUD JPY daily PB on swing high.
The PB crosses 150 EMA. The PB could be bigger, but I would say it is at nice swing high. I will be watching the area arround 78.5 and set the SL to BE as soon as possible.

My enter was based on H1 graph, when the price closed below the PB's low and then retraced back to the PB low - which is previous resistance (on H1) now (as it seems) turned to support.


Any comments are appreciated.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud jpy pb.gif Size: 40 KB
Click to Enlarge Name: aud jpy pb h1.gif Size: 41 KB
  • #104,954
  • Edited 7:06am Dec 6, 2011 4:17am | Edited 7:06am
A setup I am watching to get in . Spread is a little too wide for a 1 hour trade , so I will wait if a nice price represents

EDIT :
This ended as a small loss . I tightened my stop after a few bars with not so convincing action .
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad.PNG Size: 66 KB
  • #104,955
  • Dec 6, 2011 8:16am Dec 6, 2011 8:16am
Kinda liked how price respect this trendline for a second time . So got in VERY SMALL . Looking good so far . Let's see how this bar will close.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpcad.PNG Size: 68 KB
  • #104,956
  • Dec 6, 2011 8:23am Dec 6, 2011 8:23am
Wow , the pressure got me .... took profit . Going out to get some groceries .

Made almost triple the earlier loss
Nice
Attached Image (click to enlarge)
Click to Enlarge Name: gc.PNG Size: 65 KB
  • #104,957
  • Dec 6, 2011 8:35am Dec 6, 2011 8:35am
Quoting Rust
Kinda liked how price respect this trendline for a second time . So got in VERY SMALL . Looking good so far . Let's see how this bar will close.
cool dude

I get scared as heck with you guys on these smaller timeframes but that pattern was nice price got squeezed real tight and also gave the BEOB tip off

Best
Mike
  • #104,958
  • Dec 6, 2011 8:45am Dec 6, 2011 8:45am
Mike
A trader who gose by the name Cypalex just posted a 4008.5% return on trade explorer. And the funny part is he's only ben a member since Dec. 6 2011. Is he proving how well his program works or what?
  • #104,959
  • Dec 6, 2011 8:52am Dec 6, 2011 8:52am
Quoting Rockie
Mike
A trader who gose by the name Cypalex just posted a 4008.5% return on trade explorer. And the funny part is he's only ben a member since Dec. 6 2011. Is he proving how well his program works or what?
Hey Rockie

Although I have no idea about anything of the above. I'll leave you with a statement to live by

if it seems to good, it probably is .

These are the types of things that keep new traders on the wrong path. Instead of understanding and having more realistic expectations based on the method we use. But if it is, then I guess he will have all the wealth in the world in a few short weeks and we'll have a new financial crisis on our hands

Don't let that kind of stuff distract you

Take care
Mike
  • #104,960
  • Dec 6, 2011 9:10am Dec 6, 2011 9:10am
Quoting mbqb11
cool dude

I get scared as heck with you guys on these smaller timeframes but that pattern was nice price got squeezed real tight and also gave the BEOB tip off

Best
Mike
I try to avoid posting lower timeframe trades , but this one was interesting. I like the squeezing so much

On lower timeframes I use much smaller risk % . Like 0.5% or even LESS .

You are a great teacher, Mike !
78 traders viewing now