james16 Chart Thread | Page 5515 | 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

  • #110,281
  • Apr 15, 2012 5:23pm Apr 15, 2012 5:23pm
Quoting Grousman
I'm still lurking on here and trying to work out why the bias to the downside? I can see the H&S on the daily but given price could not close below the weekly LCS (8226) I'm struggling to rationalise a break to the down side?

Any feedback, as always, greatly appreciated.
Hey G

It isn't that I know for sure that price is going down, what this gives me is a PRIME area to watch for further information. Until that neckline gives it is support, but based on that overall pattern I showed + the downtrend this level looks like it needs to break. And even if it breaks doesn't mean price has to go down. But the confluence at this area gives me prime location to watch for further PA or signals and use that confluence to execute a potential trade. The market looks heavy and I would not be surprised to see us retest the lows from early this year.

Hope that helps
Mike
  • #110,282
  • Apr 15, 2012 5:26pm Apr 15, 2012 5:26pm
Quoting patapouer
Hi folks,

how crazy I am, trying to understand how I can get PA working... 7354 pages to read "from the beginning", as they said...

I am brand new to... well, forex, as a matter of fact.
I've opened a micro account few weeks ago, and as many others (I hope!), I've been looking for the best way to get pips. More pips.
Even though I knew (felt?) Fx is not a get rich quick scheme
=> Issue n°1: I can get greedy.

So I went through indicators, get some stuff working, got confidence, moved from 4H TF to 1H, then 30M, then 15M. And lost,...
Welcome Pat, keep at it and ask questions when you need

Best
Mike
  • #110,283
  • Apr 15, 2012 8:55pm Apr 15, 2012 8:55pm
Quoting AmareX
AU continues in the bearish channel on Daily timeframe.
But there is a break on 4H timeframe, little confused.
Hey A,

Its the same channel at work on both time frames. The 4H upper trend line is more valid on the daily TF than the one you drew exclusively for the daily TF.

More valid obviously because it hosts more number of accurate touches.

g.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au 4h.gif Size: 40 KB
Click to Enlarge Name: au daily.gif Size: 40 KB
I believe . . .
  • #110,284
  • Apr 15, 2012 9:48pm Apr 15, 2012 9:48pm
Quoting AmareX
AU continues in the bearish channel on Daily timeframe.
But there is a break on 4H timeframe, little confused.
Mate..

Isn't that SL too close for ur timeframe.?

Sonic
  • #110,285
  • Apr 15, 2012 11:13pm Apr 15, 2012 11:13pm
Quoting ghous
Hey A,

Its the same channel at work on both time frames. The 4H upper trend line is more valid on the daily TF than the one you drew exclusively for the daily TF.

More valid obviously because it hosts more number of accurate touches.

g.
I see! Thanks Ghous
" The fool who never traded Demo "
  • #110,286
  • Apr 15, 2012 11:14pm Apr 15, 2012 11:14pm
Quoting sonicdeejay
Mate..

Isn't that SL too close for ur timeframe.?

Sonic
It was a 10 pip scalp attempt on M5
" The fool who never traded Demo "
  • #110,287
  • Apr 15, 2012 11:22pm Apr 15, 2012 11:22pm
No other confluence except big BEOB. Also lack of momentum .. next bar did not break.

Any one took this ? I was trying a small position which is yet to be triggerred.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCAD-BEOB-4-15-2012 9-17-41 PM.jpg Size: 82 KB
  • #110,288
  • Apr 16, 2012 12:15am Apr 16, 2012 12:15am
Quoting aserbfx
+40 pips so far.
took profit +110 pips.
reason to tp: don't be greedy + 83.00 brn (although it hasn't been a big barrier last week).
Attached Image (click to enlarge)
Click to Enlarge Name: aj18.gif Size: 23 KB
meine augen sind die sterne
  • #110,289
  • Apr 16, 2012 1:01am Apr 16, 2012 1:01am
I just locked in the biggest gain I have ever made ... I Bow My Head down In respect to the higher time frames !!!
Human
  • #110,290
  • Apr 16, 2012 1:32am Apr 16, 2012 1:32am
Quoting aserbfx
took profit +110 pips.
reason to tp: don't be greedy + 83.00 brn (although it hasn't been a big barrier last week).
Nice. I also was in this one, but on a break of that BEOB and 84.00 (83.90 actually) on Friday. You know it was quite a nervous trade for me, as I was in a big drawdown as u see. And my profit is much more modest as I put TP when I sleep and cant manage the trade:-) All in all a lesson of that trade for me is that if you SL is in right place you gonna win ! ;-)
Attached Image
If not up, then down, otherwise sideways :-)
  • #110,291
  • Apr 16, 2012 3:09am Apr 16, 2012 3:09am
Quoting Quezoy
AUD/NZD shows a nice IPB on friday. Its also approaching monthly BRN and monthly trendline.

This is still indecision I guess.
I think it's turning here. I dont do IPB's but i thought they had to be enclosed by previous bars?
i like this for a long actually - i posted a few charts back in March saying it'd be good to look for bullish PA around here.
There are lots of confluences here for long trades, not many of them J16 style tho' apart from that pin which due to location makes it a little shady.
  • #110,292
  • Apr 16, 2012 4:13am Apr 16, 2012 4:13am
Greetings everyone, best of luck for the coming week.

Does anybody like the look of this?

Strong downtrend.
Trading below the H&S neckline.
Might close as break of IB.

Would that above reasons be understood as moderate confluence or weak confluence?

For this scenario however I am a bit wary of the 0.81666 level. If the IB manages to break that then i think there might be space to move. Does that seem right?

Best
-H
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eg.gif Size: 22 KB
Click to Enlarge Name: eg1.gif Size: 21 KB
  • #110,293
  • Apr 16, 2012 5:03am Apr 16, 2012 5:03am
Quoting mbqb11
Hey S

Be careful here this isn't a pinbar......

Here is a bearish pinbar example(just the opposite)
http://www.forexfactory.com/showthre...41#post2913741

Let me know if this makes sense
Mike
Hi Mike, makes perfect sense - time to cool my jets and be patient with the setups, thanks for taking the time to respond.
  • #110,294
  • Apr 16, 2012 5:05am Apr 16, 2012 5:05am
Quoting Magestic
Think of it that way. 1.2600 is a BRN and is currently a support level. What we would like to see here is a break down of 1.2600 level and then become a resistance level. After PA confirmation near 1.2600.
Agreed - and I can see now what you mean in your chart - great illustration - thanks for your help
  • #110,295
  • Apr 16, 2012 5:12am Apr 16, 2012 5:12am
Quoting mbqb11
Hey T

. id on't think my trading would significantly change in anyway if I used a 6 or 7pm (something close).

So do what is comfortable for you and you will be ok

Best
Mike
ya you are true.. i did a back test on this..found it doesnt matter much..i will forward test to see whether it makes any difference ...
thanks for the reply mike
  • #110,296
  • Apr 16, 2012 5:25am Apr 16, 2012 5:25am
Can someone refresh my memory regarding a "formation" that I recall Jim bringing up long ago, something along the lines of 3 consecutive up/down bars and then a theoretically predictable 4th bar to follow suit. Does this ring a bell? It would have been brought up about years ago, maybe even more and not sure if it has been brought back up.
  • #110,297
  • Apr 16, 2012 5:29am Apr 16, 2012 5:29am
Quoting alyehoud
Can someone refresh my memory regarding a "formation" that I recall Jim bringing up long ago, something along the lines of 3 consecutive up/down bars and then a theoretically predictable 4th bar to follow suit. Does this ring a bell? It would have been brought up about years ago, maybe even more and not sure if it has been brought back up.
i think it's 3 strong bull/bear bars will have a 4th of the same/similar follow it. It's in his charts back at the early stuff i think.
  • #110,298
  • Apr 16, 2012 5:31am Apr 16, 2012 5:31am
Quoting beebolbod
i think it's 3 strong bull/bear bars will have a 4th of the same/similar follow it. It's in his charts back at the early stuff i think.
Ya that sounds like what it was. You happen to recall a term I could use to search it? I couldn't find anything based on what I could remember and because it's so old, its buried deep in here.
  • #110,299
  • Apr 16, 2012 5:47am Apr 16, 2012 5:47am
H4 BEOUB after break of well respected RTL & RN 1.26 which intersect. H&S in there too.
Attached Image (click to enlarge)
Click to Enlarge Name: ea h4 16042012.gif Size: 23 KB
  • #110,300
  • Apr 16, 2012 5:55am Apr 16, 2012 5:55am
Quoting alyehoud
Ya that sounds like what it was. You happen to recall a term I could use to search it? I couldn't find anything based on what I could remember and because it's so old, its buried deep in here.
nah sorry. I dont play em so i ignored it. I reckon if you go through the first 20 of James charts you might come accross it? Worth a try.
25 traders viewing now