james16 Chart Thread | Page 5293 | 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

  • #105,841
  • Jan 12, 2012 12:53pm Jan 12, 2012 12:53pm
Quoting meshka
nice BUOB on EURAUD. 500 pips available if it will hold and validate tommorow.
Good luck in trade. What triggered your early entry?

Interesting location....lots of space. I will personally need strong close above BRN 1.2500 to buy this pair. Several daily highs stacked up there (with some sell orders, stops and Profits I imagine). EURNZD is also in interesting location.
  • #105,842
  • Jan 12, 2012 1:02pm Jan 12, 2012 1:02pm
Too small BUOB after such a sharp move for me , also . No confluence .
Like Donkey said , close above 1.2500 will be a lot better
  • #105,843
  • Jan 12, 2012 1:20pm Jan 12, 2012 1:20pm
Quoting bfis108137
The problem with all of these buob's that undoubtedly are forming on all usd and eur pairs is that they are fundamentally related. Bad US unemployment numbers and the ECB decided not to raise rates as well as Draghi spoke nicely about the European economy. I would be careful about these since news tends to cause a temporary reversal with continuation of the current trend. If I had been looking, I maybe would have considered some stuff on the 4h or even the 1h but the day is over now and probably we will see a trend continuation. I know that...
I'm with you on this ;-)

The problems in the Eurozone haven't gone away. The Euro pairs were all oversold and open to bounce from the slightest news.

EU hit a 14 month ish low yesterday and many other Euro pairs are real low.

From a PA perspective i'd want more info and from a news perspective i'd want something stronger to go on, but that's just my 2 pence worth.

I suggested yesterday the EU 4H pin was worth 80+ pips but i see it as a retracement at this stage so didn't go there myself.

The problems in the EU affect me personally so i'd prefer to be wrong on this and have my demo shorts on EU turn to poop to be honest. Real life will be easier if the EU problems are going away.
  • #105,844
  • Jan 12, 2012 3:17pm Jan 12, 2012 3:17pm
Quoting mbqb11
nice clean chart a lot of us are watching.

Clear consolidation in a down trend. TLs are very exact, BRN running through the mid point of consolidation also acting as a PPZ(as midpoints of consolidation almost always will)

Best
Mike
I went short 75.22 and now I lose out
  • #105,845
  • Jan 12, 2012 3:19pm Jan 12, 2012 3:19pm
Quoting Yehuda Sh
I went short 75.22 and now I lose out
what signal did you use to enter there?
  • #105,846
  • Jan 12, 2012 4:03pm Jan 12, 2012 4:03pm
Aussie seems to be coming into an important level.
Attached Image (click to enlarge)
Click to Enlarge Name: aud top.gif Size: 24 KB
  • #105,847
  • Jan 12, 2012 4:05pm Jan 12, 2012 4:05pm
not so impressive close of EURAUD daily candle as I expected.
Donkey... my early entry caused my aggressive lithuanian blood and greed hope that price for it would be minimal...
as for outside bars - NZDCHF looks far better .
and interesting how will develop all things with cable...
break down is on my wishlist
Attached Image (click to enlarge)
Click to Enlarge Name: nzdchf daily 12.01.gif Size: 21 KB
all is eternal - this is good news for people who loves bad news
  • #105,848
  • Jan 12, 2012 4:16pm Jan 12, 2012 4:16pm
Went long the EUR/GBP Last night based on the outside bar after the close. At resistance right now .8360ish.... +60 pips so far. Anyone else take this??
"Greed is good,greed is right,greed works"
  • #105,849
  • Jan 12, 2012 4:24pm Jan 12, 2012 4:24pm
Have a question about trailing stops.

1) does anyone utilize them?
2) If so , how do you determine what number to use?

I typically use 1 - 1/12 ATR on the 4hr chart.

Is their a more efficient method to use? I know you have to give prices "room to do their thing" but I also don't want to be up like 50pips or something only to have a trailing stop take me out to quickly like setting it for 30 pips or something.

For example the ATR on the EUR/GBP is 50 .... so I would set the TS @ 50 pips. I know this changes as price goes up/down so should my TS adjust as well as ATR does?

I usually only use trailing stops at night when I go to sleep since , as of now, I have access to computer all throughout the day.

Just wanted to get some feedback on this.

Thanks!
"Greed is good,greed is right,greed works"
  • #105,850
  • Edited 6:40pm Jan 12, 2012 6:12pm | Edited 6:40pm
Quoting beebolbod
you took the BEOUB i take it?
Nope, I took the H1 PB and after it broke, there was only a few mins left to the close of the H4 bar, it looked like it may turn into a BEOB.

So, I entered on the H1 PB and saw the possibility of the H4 bar turning bearish, for extra confirmation.

Hmm, this leads me to thinking about the last hour of a possible H4 setup, possibly showing us H1 PA that has more behind it than an H1 PA bar that is not part of the larger picture. And it does not stop at H1.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 102 KB
  • #105,851
  • Edited 6:45pm Jan 12, 2012 6:32pm | Edited 6:45pm
EG is looking interesting if we get a touch of the 0.83411 MLCS.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 147 KB
Click to Enlarge Name: 2.jpg Size: 147 KB
  • #105,852
  • Jan 12, 2012 6:35pm Jan 12, 2012 6:35pm
Quoting Gekko78
Have a question about trailing stops.

Thanks!
I don't use an automatic trailing stop. I use a manual 2-day low trailing stop. It's kept me in trades for a week or two before. You can go back in history and see how many trends you'll get kicked out of, but generally it will keep you in a trade for a good amount of time.

I do lose some profits at big areas where it bounces back, so you can also take partial profits if you're aware of a key area the pair is approaching.
  • #105,853
  • Jan 12, 2012 6:42pm Jan 12, 2012 6:42pm
Tempted to take this bearish bar on a break.

Pros:
Big
Not in traffic

Cons:
Not BEOB or DBHLC
against huge trend
Attached Image (click to enlarge)
Click to Enlarge Name: nzdchf.gif Size: 17 KB
  • #105,854
  • Jan 12, 2012 7:00pm Jan 12, 2012 7:00pm
Quoting PenguinTrade
Tempted to take this bearish bar on a break.

Pros:
Big
Not in traffic

Cons:
Not BEOB or DBHLC
against huge trend

It is a DBHLC on my feed, to the pip as you can see in the small screen shot with price on both bar highs.

Not that I am suggesting, you should or should not take it.

A DBHLC or DBLHC can have up to 3 pips difference of the highs or lows, on the daily TF, and still be valid.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 137 KB
Click to Enlarge Name: Capture.PNG Size: 33 KB
  • #105,855
  • Jan 12, 2012 7:27pm Jan 12, 2012 7:27pm
Are there any statistics on how good price action setups can be? I realize that statistically analyzing PA can be challenging due to confluence levels and the type of signal traded, but i was seeing if anyone has or is working on a data sheet from past experiences.
example 1: if an inside bar has this many types of confluence levels going with the trade it has an 85% success rate.
example 2: if this pin bar breaks past a BRN bouncing off of the 365 ema, it has a 90% success rate.

I know its a really difficult task to put numbers on such data with so many factors involved, and everyone taking trades differently. just seeing if anyone has taken an economist point of view, and quantified some of their own trades?
thanks,
brent
  • #105,856
  • Edited Jan 13, 2012 7:08pm Jan 12, 2012 7:47pm | Edited Jan 13, 2012 7:08pm
NZD/USD is approaching an interesting area with a lot of confluence.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 152 KB
Click to Enlarge Name: 2.jpg Size: 162 KB
  • #105,857
  • Jan 12, 2012 8:13pm Jan 12, 2012 8:13pm
Quoting Pinbar
You don't really want the fish.

You want to learn to fish.

When you start trading, only you will know when it is or is not, time to cast your rod.
Cool. But first I need Fish. Ask away but Always Study... WHY?

B
  • #105,858
  • Jan 12, 2012 10:04pm Jan 12, 2012 10:04pm
Hi,

I am new to this and only following for several weeks. I got a question regarding the characteristic of a pin bar. According to my understanding:
- the longer the nose, the better, right?
- the lower the left eye (if nose pointing up and the body of pin bar still within it), the better, right?
- the lower the body (if nose pointing up), the better, right?

My question is, is it the thinner the body, the better? No body is the best?

Asking just to get better understanding on the characteristic of pin bar. Thanks.
  • #105,859
  • Jan 13, 2012 2:45am Jan 13, 2012 2:45am
Quoting anyremote
Hi,

I am new to this and only following for several weeks. I got a question regarding the characteristic of a pin bar. According to my understanding:
- the longer the nose, the better, right?
- the lower the left eye (if nose pointing up and the body of pin bar still within it), the better, right?
- the lower the body (if nose pointing up), the better, right?

My question is, is it the thinner the body, the better? No body is the best?

Asking just to get better understanding on the characteristic of pin bar. Thanks.
There are LOADS of great examples of pinbars in this thread m8. Really. I'd suggest you look at a load of charts historically, pick out some you like and some you dont, report back with your findings accompanied by some charts, and those that know will help you.

I'm only saying this as i think you'll learn more by looking than by us showing.... ;-)

Probably the most important part of a pinbar is it's location. Look for them at highs and lows on a few charts... they're there - all over the place.
  • #105,860
  • Jan 13, 2012 3:22am Jan 13, 2012 3:22am
Euro pairs forming bearish PA all over the place..... watching for more shorts ;-)

Nice pairs to be scalping quick profits from actually, plus the benefits of the long term trends to enjoy.
66 traders viewing now