james16 Chart Thread | Page 5308 | 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

  • #106,141
  • Jan 21, 2012 12:45am Jan 21, 2012 12:45am
Quoting DropThumb
Thanks Jarroo, that certainly helps. When you're looking to outline PPZ do you generally stick to the time frame that you're trading in, or do you define them by looking for a confluence of Daily, Weekly, Monthly?
Hey DropT,

I do look at PPZ levels, strong levels of Support and strong levels of Resistance on the same TF. And trade a setup on that same TF. But more often than not, I will look for Higher TF levels, like on the Weekly, and bring those levels down to a lower TF to trade them.

So for example, if there is a strong Weekly PPZ that is confluenced , I will bring that level down to the 4 Hour and trade it there

for example . . .
Indicators show the past. Price Action "Indicates" the future.
  • #106,142
  • Jan 21, 2012 2:03am Jan 21, 2012 2:03am
Quoting jarroo
Hey DropT,


for example . . .

Take this Daily PPZ level that is confluenced with the Daily 150 and 365 emas. I would take this Daily level down to the 4 Hour or even the Hourly and look for some solid PA: PBs, Outside bars, etc. There are touch trade possibilities there too . .but that is another story . ..

Jim
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurgbp daily.jpg Size: 118 KB
Click to Enlarge Name: eurgbp daily44.jpg Size: 110 KB
Indicators show the past. Price Action "Indicates" the future.
  • #106,143
  • Jan 21, 2012 2:16am Jan 21, 2012 2:16am
Quoting biDc
Going into next week CAD/CHF

PPZ, round number, 150EMA, DBHLC
Looks good, biDc . .strong confluenced Resistance level, for sure .

If Price were to close above that level, I can see it turning into strong Support as well.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: cc.jpg Size: 90 KB
Indicators show the past. Price Action "Indicates" the future.
  • #106,144
  • Jan 21, 2012 2:34am Jan 21, 2012 2:34am
Quoting Pinbar
This interests me for next week, if we get a weekly close below.

Hey Pinbar . .that Cad sure looks like its compressing nicely . . the tooth paste tube is getting ready to pop . .
Attached Image (click to enlarge)
Click to Enlarge Name: ccad.jpg Size: 101 KB
Indicators show the past. Price Action "Indicates" the future.
  • #106,145
  • Jan 21, 2012 2:56am Jan 21, 2012 2:56am
Quoting jarroo
Hey smoz . . It looks more like a 365 Simple moving average . .you may want to re-check your parameters on that MA. .(chart)
Hello, this is the settings from ma
Attached Image
Si stiu, stiu deja, intr-o zi o sa ajung cineva...
  • #106,146
  • Jan 21, 2012 3:48am Jan 21, 2012 3:48am
Quoting jarroo
Hey Pinbar . .that Cad sure looks like its compressing nicely . . the tooth paste tube is getting ready to pop . .
Yeah, Jim.

Now we have a weekly close so, it should be interesting to see if price is going to go for a retest.

I have a week of for Chinese New Year, so I can get to grips with it, and study more from morning to night.

What fun!
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 105 KB
  • #106,147
  • Jan 21, 2012 4:04am Jan 21, 2012 4:04am
I am also looking at this but, I am kind of leaning towards price breaking through and closing above this area, because of the size of this last weekly bar.

Any thoughts on this Jim?

EDIT: Also, we can see how accurate this H4 TT would have been, it was to the very pip!
The fact that it did not take of South, is also making me lean towards price hanging around this area to try to break through.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 168 KB
Click to Enlarge Name: 2.jpg Size: 183 KB
  • #106,148
  • Jan 21, 2012 7:49am Jan 21, 2012 7:49am
german jun3 on weekly.
seems to complete a w-formation. trigger would be above ~24 eur.
this is nearly the high of the rectangle back in 2008.
Attached Image (click to enlarge)
Click to Enlarge Name: JUNGHEINRICH AG O.N.VZO.png Size: 15 KB
meine augen sind die sterne
  • #106,149
  • Jan 21, 2012 7:58am Jan 21, 2012 7:58am
german sie on weekly.
forming a rising wedge at round number 80 eur.
wait for a breakout on rising volume.
Attached Image (click to enlarge)
Click to Enlarge Name: SIEMENS AG NA.png Size: 13 KB
meine augen sind die sterne
  • #106,150
  • Jan 21, 2012 8:17am Jan 21, 2012 8:17am
There is a nice BUOB formed @ Swing low location on EURCAD Weekly Chart and CA 1.3100. This has lot of space on the left and may be has a potential to reach 1.3400

FTA in the weekly @ 1.3258. If you dive down into Daily you may find many potential FTA's

What I really like about this chart is the 'SPACE' and less traffic. What do you guys think?

Also I think on the 4H chart, the long downward trend line is broken. Comments are welcome.

Thanks
vyky
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURCAD WEEKLY 01202012.GIF Size: 62 KB
Click to Enlarge Name: EURCAD DAILY 01202012.GIF Size: 62 KB
Click to Enlarge Name: EURCAD 4H 01202012.GIF Size: 40 KB
  • #106,151
  • Jan 21, 2012 9:26am Jan 21, 2012 9:26am
Quoting smozmo
Hello, this is the settings from ma
Not to worry, you both probably have different candle close times which will shift your MAs .

Best
Mike
  • #106,152
  • Jan 21, 2012 9:30am Jan 21, 2012 9:30am
Quoting vyky
There is a nice BUOB formed @ Swing low location on EURCAD Weekly Chart and CA 1.3100. This has lot of space on the left and may be has a potential to reach 1.3400

FTA in the weekly @ 1.3258. If you dive down into Daily you may find many potential FTA's

What I really like about this chart is the 'SPACE' and less traffic. What do you guys think?

Also I think on the 4H chart, the long downward trend line is broken. Comments are welcome.

Thanks
vyky

Looks good vyky, your trade plan.

My FTA would be the previous bar high, lining up with the other lows but essentially the same as you with the major trouble area being the clear two lows up near 1.34

The reason I would pass in case you are interested(not to dissuade your trade plan it's fine) is because of the size of the recent down move vs the size of the BUOB. If played it should be played as James16 describes in this is critical. That's why I don't want you to take me not taking it as it's a bad trade. Also there isn't a large amount of confluence. It's more just a bar at a swing low(does have the 1.3 BRN but that hasn't played a huge role).

FTA are very important with these bars

Have a great weekend
Mike
  • #106,153
  • Jan 21, 2012 12:11pm Jan 21, 2012 12:11pm
Hello all,
So, I read the thread(well most of it) and watched the videos inthe guest section, and I think I am ready to start the James16 challenge.My question to you is what am I shooting for?For me ending up with a litlle profit, or even at breakeven would be a huge improvement, but I want to do this right.So what kind of accuracy would you think is reasonable with this method?

About Me: I´m not new to trading at all, in fact I´ve been trading on and of for 4years now.Didn´t have a lot of succes though,I´ve blown more than 5 accounts during this time, occasionaly I had some short term gains(I´ve been up as much as 40% in three days) but over the long haul I always crashed.Despite this I am still commited to make this work for me, and this time I am going to approach this like a bussines and not like playing the lottery
Greetings StockEX
  • #106,154
  • Jan 21, 2012 1:58pm Jan 21, 2012 1:58pm
Quoting vyky
There is a nice BUOB formed @ Swing low location on EURCAD Weekly Chart and CA 1.3100. This has lot of space on the left and may be has a potential to reach 1.3400

FTA in the weekly @ 1.3258. If you dive down into Daily you may find many potential FTA's

What I really like about this chart is the 'SPACE' and less traffic. What do you guys think?

Also I think on the 4H chart, the long downward trend line is broken. Comments are welcome.

Thanks
vyky

Our January bar will be a higher low from January a year ago. Nine more days may form a monthly bullish "pinish" bar. I think it's worth trading.
  • #106,155
  • Jan 21, 2012 2:19pm Jan 21, 2012 2:19pm
Quoting smozmo
Hello, this is the settings from ma

Hmmmm . . . . .Could you post a chart with both the 365 SMA and 365 EMA on it?

Just curious.

Jim
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nazzzusdss.gif Size: 35 KB
Click to Enlarge Name: nazzzusd.jpg Size: 95 KB
Indicators show the past. Price Action "Indicates" the future.
  • #106,156
  • Jan 21, 2012 2:35pm Jan 21, 2012 2:35pm
Quoting Pinbar
Yeah, Jim.

Now we have a weekly close so, it should be interesting to see if price is going to go for a retest.

I have a week of for Chinese New Year, so I can get to grips with it, and study more from morning to night.

What fun!
Yeah, that Friday close could be a hint . . but it still looks pretty wedged up on the Weekly.
Attached Image (click to enlarge)
Click to Enlarge Name: ccadww.jpg Size: 98 KB
Indicators show the past. Price Action "Indicates" the future.
  • #106,157
  • Jan 21, 2012 3:08pm Jan 21, 2012 3:08pm
Quoting jarroo
Hmmmm . . . . .Could you post a chart with both the 365 SMA and 365 EMA on it?

Just curious.

Jim
Yes, the red line is 365 SMA my mistake, I use 2 different brokers usualy I use 365ema and probabily when i upload 365 ma at second broker chart i forgot to change simple to exponential
Si stiu, stiu deja, intr-o zi o sa ajung cineva...
  • #106,158
  • Jan 21, 2012 3:13pm Jan 21, 2012 3:13pm
Quoting smozmo
Yes, the red line is 365 SMA my mistake, I use 2 different brokers usualy I use 365ema and probabily when i upload 365 ma at second broker chart i forgot to change simple to exponential

Ok, smozmo . .Cool .. .
Indicators show the past. Price Action "Indicates" the future.
  • #106,159
  • Edited 3:35pm Jan 21, 2012 3:24pm | Edited 3:35pm
Quoting Pinbar
I am also looking at this but, I am kind of leaning towards price breaking through and closing above this area, because of the size of this last weekly bar.

Any thoughts on this Jim?

EDIT: Also, we can see how accurate this H4 TT would have been, it was to the very pip!
The fact that it did not take of South, is also making me lean towards price hanging around this area to try to break through.
The Weekly levels have been great on the Gbp/Jpy . .

This is a great example of how you can take these Weekly levels down to a lower TF and trade them.

Looking at the Weekly levels on the Daily TF, we can see how effective trading PBT&CAorB on the Daily with a touch trade can be.

I'll let you figure out what the maximun draw down was on these trades and what potential gains were offered . .

Also, you could go down to say the 4 Hour or Hourly at these Weekly levels and see if there were any agreeable PA . .meaning, bearish or bullish PA at the "flip".

Jim
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gjww.jpg Size: 86 KB
Click to Enlarge Name: gjwwdd.jpg Size: 109 KB
Indicators show the past. Price Action "Indicates" the future.
  • #106,160
  • Jan 21, 2012 4:04pm Jan 21, 2012 4:04pm
Quoting mbqb11
Additionally we are in a box. Notice price boxing on top of other boxes(creating our pivot at 1.45 brn.

Here is a tip for those who are new. Check out these "boxes" or any form of consolidation. Then check out the MIDPOINT of your consolidation. It will almost always be a PPZ.

How does this help us? Well in this case we know we are trading in a "box", so we know price has a tendency to chop in a box. So we know where to look. The midpoint.

Funny enough look where the 365 is

Enjoy the weekend all be safe

Mike

As always Mike is the man with the best weather report!

Ryan
51 traders viewing now