james16 Chart Thread | Page 5571 | 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

  • #111,401
  • May 7, 2012 1:00pm May 7, 2012 1:00pm
Quoting Chanya
The blue are marked would be a great place to look for the price action !!! Strong PPZ , 250 Round number , fib 38.2 and a daily 365 EMA !!! Lets see .
Good are to watch C. Don't worry about trying to catch every move the markets make. That is not the job of the trader. It's to wait for your spots where things fit your method. The rest is just the market doing it's thing.

I am watching a lot of pairs including the former wedge pattern on the eur/usd, usd/chf, eur/cad is wedging. Tons of great areas and pairs to watch I'll post some charts later tonight

All about being patient the markets are in a really good mode now

Mike
  • #111,402
  • May 7, 2012 3:04pm May 7, 2012 3:04pm
Seems like possible nice place to go short on the PA near red line. What do u think?
Attached Image (click to enlarge)
Click to Enlarge Name: nc.jpg Size: 145 KB
If not up, then down, otherwise sideways :-)
  • #111,403
  • May 7, 2012 3:07pm May 7, 2012 3:07pm
Quoting Chanya
The blue are marked would be a great place to look for the price action !!! Strong PPZ , 250 Round number , fib 38.2 and a daily 365 EMA !!! Lets see .
Yes, this seems very good. Lets wait.
If not up, then down, otherwise sideways :-)
  • #111,404
  • May 7, 2012 3:16pm May 7, 2012 3:16pm
Quoting mbqb11
I am watching a lot of pairs including the former wedge pattern on the eur/usd
I was tempted to just enter on E/U last night after the gap open, didn't pull it though. good thing
Many choose unhappiness over uncertainty.
  • #111,405
  • May 7, 2012 3:56pm May 7, 2012 3:56pm
Quoting mbqb11
Good are to watch C. Don't worry about trying to catch every move the markets make. That is not the job of the trader. It's to wait for your spots where things fit your method. The rest is just the market doing it's thing.

I am watching a lot of pairs including the former wedge pattern on the eur/usd, usd/chf, eur/cad is wedging. Tons of great areas and pairs to watch I'll post some charts later tonight

All about being patient the markets are in a really good mode now

Mike
I will be waiting !!!
Thnx
Human
  • #111,406
  • May 7, 2012 3:59pm May 7, 2012 3:59pm
I wonder where James is .>.... Its been a while ...
Human
  • #111,407
  • May 7, 2012 4:03pm May 7, 2012 4:03pm
Quoting Dan Gilbert
I was tempted to just enter on E/U last night after the gap open, didn't pull it though. good thing
yep, that's why I closed out my usd/chf it's more likely to fill the gap more times, and the gap fill on both pairs is right at the previous boundary for the wedge. Fantastic spot to look for an entry. I have all alarms set

Mike
  • #111,408
  • May 7, 2012 5:01pm May 7, 2012 5:01pm
Hi All,

I have been lurking on this forum for almost 2 years. I haven't made many posts as I have spent most of my time reading and learning. The next step in my learning is to become more active on this forum and interact by asking questions and trying to answer others questions the best that I can.

I have attached a recent demo trade, which I placed on the EURJPY Daily TF. It has worked out pretty well to date.

BEOB on 02nd May

Confluence:
PPZ @ 106.00-106.50
RN @ 106.00
150 EMA
Broken Ascending Trend Line
50% Retracement

I entered on a retrace of the BEOB at 106.00 with a 35 pip initial stop, which was behind the 150 EMA.

My FTA was the low of the Pinbar on the 16th April, which also coincides with the HCR from 01st December 2011. My stop was moved to BE but has since been moved to 104.71 just above the GAP which happened on the open of todays candle.

I'm hopeful price will reach my next major PPZ @ 102.50-102.00

Any views are much appreciated.

bud_fox
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy3.gif Size: 28 KB
  • #111,409
  • May 7, 2012 10:34pm May 7, 2012 10:34pm
i had entered yesterday's pinbar on EURNZD after it reached its first FTA and rebounced. I took it when it rebroke the low of the pin,

Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd-daily-pinbar.jpg Size: 94 KB


when it didnt move as i had wanted it to, i cut off today.

Attached Image (click to enlarge)
Click to Enlarge Name: eurnzd-daily-pinbardiv-ch.jpg Size: 106 KB


any comments?

i noted jaroo's earlier on about not chasing the bar once it broke, hit the first target and retraced backwards. i cut off because i didnt feel confident about the trade anymore, even though its still considered a "valid" bar until it reaches the high of the bar.

but i don't want to take a full bar loss.
  • #111,410
  • May 7, 2012 11:18pm May 7, 2012 11:18pm
Hey folks - another basic question...

I am trying to figure out which trading platform to use, MT4 or Market Scope 2.0, or break down and spend good money on Trade Station?

Is it a Ford - Chevy - Ferrari thing, where each will get you there, but one has all the power and pizzaz factor? Or use MT4 because it has more tools available out there?

Thanks for your input everybody!

Lefty
100 % of the shots you don't take wont go in. Wayne Gretzky
  • #111,411
  • May 8, 2012 1:41am May 8, 2012 1:41am
Quoting fascist
i had entered yesterday's pinbar on EURNZD after it reached its first FTA and rebounced. I took it when it rebroke the low of the pin,

Attachment

when it didnt move as i had wanted it to, i cut off today.

Attachment

any comments?

i noted jaroo's earlier on about not chasing the bar once it broke, hit the first target and retraced backwards. i cut off because i didnt feel confident about the trade anymore, even though its still considered a "valid" bar until it reaches the high of the bar.

but i don't want...
Yes the bar is still valid until the high is taken out. The pin looked "weak" on my feed without much space (more space higher in my opinion)...price seems to stalling after breaking consolidation, maybe profit taking on Friday.

Charts below are how i'm currently watching this pair. I see the weekly close above two important weekly HCR/LCS (jarroo) levels and the RN 1.6300. I'd personally like to see price drop down to 1.628-1.6300 before making another run at 1.6500 and maybe higher.

All that to say, I think you played that one correctly - full bar losses can dwindle an account and take a psychological toll (at least for me).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: a.gif Size: 25 KB
Click to Enlarge Name: a1.gif Size: 26 KB
  • #111,412
  • May 8, 2012 2:35am May 8, 2012 2:35am
Hello

again thanks for the thread and warm welcome

it's my chart for today (demo of course)....

I can see breakout from channel, now previous resistance serves as a support... earlier it was good S/R level... i can see a diverengence...
the only problem is next trouble area (high from Dec2011)

but on this point i will have it (hopefully) on BE

what do you think?

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: 20120507_gbpcad.png Size: 18 KB
  • #111,413
  • May 8, 2012 3:07am May 8, 2012 3:07am
hello guys

my first post here.
i watched available videos of ''James 16 group'',,,and i relate to many of those views and ideas as i coincidentally realized some of them myself after time struggling at screen. my bad i dint safe my time looking in here :-)


pls, i know u maybe will role yr eyes //as i do myself, when in other home forum someone comes around and asks smth that has been answered many times//...... but could pls someone competent either point me to other post link or just throw it in here?

how many pips u use for entries above bars?
for 1h,4h,daily, weekly
any standard?

thx a lot
making money in JimB2468 trading room
  • #111,414
  • May 8, 2012 3:08am May 8, 2012 3:08am
Quoting Leftyjh
Hey folks - another basic question...

I am trying to figure out which trading platform to use, MT4 or Market Scope 2.0, or break down and spend good money on Trade Station?

Is it a Ford - Chevy - Ferrari thing, where each will get you there, but one has all the power and pizzaz factor? Or use MT4 because it has more tools available out there?

Thanks for your input everybody!

Lefty
If you are new to all of this, just take MT4 and demo the hell out of it.
Market Scope is only for FXCM if Im not mistaken, so unless you wanna stay only with them, it does not make sense.
Tradestation I know only from videos and it seems like a powerfull platform, but for the begining stages I see no need for it.
You dont need 5000 instruments and the ability to track them in a sophisticated way, just take your 30-ish forex pairs and learn to analyse them. Belive me, its enough work for now.
Thoughts are things
  • #111,415
  • May 8, 2012 3:17am May 8, 2012 3:17am
Quoting fxstarterPL
Hello

again thanks for the thread and warm welcome

it's my chart for today (demo of course)....

I can see breakout from channel, now previous resistance serves as a support... earlier it was good S/R level... i can see a diverengence...
the only problem is next trouble area (high from Dec2011)

but on this point i will have it (hopefully) on BE

what do you think?

Regards
I wouldnt take it for 3 reasons:
1. No classical PA confirmation. You take it long after a weak pinbar which is a acctually a reversal candle down.
2. Its allready in the middle between 2 weekly levels and I avoid such setups. I try to enter near top/bottom.
3. As you say, not much space till FTA which is also weekly HCR.

Im not saying it wont go up for a certain amount, just that I would not take it at the momentary level of knowledge I have.

I really try to be picky with my trades.
Attached Image (click to enlarge)
Click to Enlarge Name: 8.5.jpg Size: 213 KB
Thoughts are things
  • #111,416
  • May 8, 2012 3:20am May 8, 2012 3:20am
Quoting patient pip
how many pips u use for entries above bars?
for 1h,4h,daily, weekly
any standard?
I am not competent but I try to enter above the highest/lowest point of the bar.
If it is a long wick I go for some 10-15 pips.
Thoughts are things
  • #111,417
  • May 8, 2012 3:34am May 8, 2012 3:34am
Quoting patient pip

how many pips u use for entries above bars?
for 1h,4h,daily, weekly
any standard?

thx a lot
There is no set rule for how many pips. I use a rough guide of 5% of the total length of the bar for entering and 2.5% for stops.

So a bearish pin bar with 200 pips from high to low would have an entry 10 pips below the low and a stop 5 pips above.
  • #111,418
  • May 8, 2012 4:59am May 8, 2012 4:59am
Took the G/U BUOB from weekly level. Went wrong.

Any mistakes from my side or just one of those trades...?
Attached Image (click to enlarge)
Click to Enlarge Name: 6.jpg Size: 186 KB
Thoughts are things
  • #111,419
  • May 8, 2012 5:03am May 8, 2012 5:03am
Quoting Quezoy
Took the G/U BUOB from weekly level. Went wrong.

Any mistakes from my side or just one of those trades...?
I think it doesn't engulf previous candle body.So its not a BUOB
If not up, then down, otherwise sideways :-)
  • #111,420
  • Edited 5:21am May 8, 2012 5:07am | Edited 5:21am
Quoting Caesar95
Jarroo,

From what I understood from your past postings...whenever a daily PBT&CA/B setup appears...you will move down to H4, H1 charts or trade straight off the daily chart. But what's the difference between going down to H4, H1 or trading straight off the daily for price actions confirmations? What will be the advantages taking H1 PA over H4, and H4 over daily considering the latter are much less influenced by random noise.

Your kind reply please

Caesar
Hey Caesar,

Let me see if I understand your question correctly . .

Whenever a Daily PBT&CA/B a HCR/LCS level setup appears...you will move down to H4, H1 charts or trade straight off that Daily level. Yes, that's correct.

There isn't much difference with the Hourly, 4 Hour or Daily PA confirmation because I'm trading off the Daily level on a lower TF.

The advantages are that I'm trading off the actual level that the Daily PA formed from . .meaning by the time a Daily PA setup is formed . .if one forms at all . . I could already be in the trade at its origin.

Take the Daily EurUsd . .very strong LCS level . .two of them lining up . .PBT&CB . . .flipping a Support level into a Resistance level.

If this Daily bar turns into a DBHLC . . .I'll be in at the Resistance level that caused the DBHLC.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: 1euro.jpg Size: 100 KB
Indicators show the past. Price Action "Indicates" the future.
360 traders viewing now