james16 Chart Thread | Page 5760 | 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

  • #115,181
  • Aug 8, 2012 6:32am Aug 8, 2012 6:32am
Quoting dabbledave
Hi all,

Just wondering if/how the experienced play weekly pins at extreme lows.

Here are two examples of last week's pin-like bars on two Euro pairs.
well pinbars often develop at swing highs/lows.

Me personally dont trade them without any further indication of a possible reversal like demand/supply area or developed divergence.

Also note that you trade a weekly chart here, it might take weeks until your target gets hit.
Hero calls followed by margin calls...
  • #115,182
  • Aug 8, 2012 6:41am Aug 8, 2012 6:41am
Quoting PhAnTi'
well pinbars often develop at swing highs/lows.

Me personally dont trade them without any further indication of a possible reversal like demand/supply area or developed divergence.

Also note that you trade a weekly chart here, it might take weeks until your target gets hit.
Thanks PhAnTi,

Still going through early pages of the thread where it's asserted that PBs like other setups are more reliable on higher timeframes.

Question is because these currency pairs are in previously uncharted price territory (lows) would the PB nose bouncing off the bollinger be enough? What other indicators might one use to add "confluence" or support for a trade where there is no prior PA history at these prices?

Or do the experienced stay out of trend reversals at extreme price levels?
  • #115,183
  • Aug 8, 2012 6:43am Aug 8, 2012 6:43am
For all new comer/ traders:

I'm not posting this trade to show me off, but in order to show how important is to study all the concepts from THIS thread.
All the elements of this trade are based of what have been told , learn and studied in THIS thread. All you find HERE is enough to start beeing profitable !

A big thanks to Jim, Mike and all of the guys that made this possible !
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD.png Size: 18 KB
Nothing personal,just business
  • #115,184
  • Aug 8, 2012 6:57am Aug 8, 2012 6:57am
Quoting fxgroup
For all new comer/ traders:

I'm not posting this trade to show me off, but in order to show how important is to study all the concepts from THIS thread.
All the elements of this trade are based of what have been told , learn and studied in THIS thread. All you find HERE is enough to start beeing profitable !

A big thanks to Jim, Mike and all of the guys that made this possible !
nice...BALLS OF STEEL !!!!
  • #115,185
  • Aug 8, 2012 6:59am Aug 8, 2012 6:59am
Quoting fxgroup
For all new comer/ traders:

I'm not posting this trade to show me off, but in order to show how important is to study all the concepts from THIS thread.
All the elements of this trade are based of what have been told , learn and studied in THIS thread. All you find HERE is enough to start beeing profitable !

A big thanks to Jim, Mike and all of the guys that made this possible !
Nice trade.
But im wondering where your initial target was ?
Hero calls followed by margin calls...
  • #115,186
  • Aug 8, 2012 7:02am Aug 8, 2012 7:02am
Quoting dabbledave
Thanks PhAnTi,

Still going through early pages of the thread where it's asserted that PBs like other setups are more reliable on higher timeframes.

Question is because these currency pairs are in previously uncharted price territory (lows) would the PB nose bouncing off the bollinger be enough? What other indicators might one use to add "confluence" or support for a trade where there is no prior PA history at these prices?

Or do the experienced stay out of trend reversals at extreme price levels?
Well if theres no prior pa history i dont trade this area. Made bad experiences and added this rule to my ''don't'' list.
Also i dont use bollinger bands, i dont like the concept behind them.
All in all even Sam Seiden uses Bollinger bands, so somehow they should work ....

well in my opinion pinbars etc do also work great on the smaller timeframes, problem is that rookies often tend to give a M15 pinbar a 150 pip target or something like that just because they see the pinbar itself and getting euphoric.

I dont know.

All in all the higher timeframes are easier to trade. I only trade the h1 up to the weekly.

Wasnt profitable trading the M30 and below, dont know why
Hero calls followed by margin calls...
  • #115,187
  • Aug 8, 2012 7:04am Aug 8, 2012 7:04am
Quoting fxgroup
For all new comer/ traders:

I'm not posting this trade to show me off, but in order to show how important is to study all the concepts from THIS thread.
All the elements of this trade are based of what have been told , learn and studied in THIS thread. All you find HERE is enough to start beeing profitable !

A big thanks to Jim, Mike and all of the guys that made this possible !
Yeah , same question as Phanti ... Plus , how did you managed to stay in even after that big retracement ???
Human
  • #115,188
  • Aug 8, 2012 7:06am Aug 8, 2012 7:06am
Quoting PhAnTi'
nice one bro

what made u selling the roof ?

regards,
Jonas
Hey Jonas ... What roof are you referring to ?
Human
  • #115,189
  • Aug 8, 2012 7:18am Aug 8, 2012 7:18am
Quoting PhAnTi'
Well if theres no prior pa history i dont trade this area. Made bad experiences and added this rule to my ''don't'' list.
Also i dont use bollinger bands, i dont like the concept behind them.
All in all even Sam Seiden uses Bollinger bands, so somehow they should work ....
Thanks again.

I'm trying not to use any indicators at all; learning to filter PA set-ups by using manually-drawn trend lines, manually-drawn pivot zones, and fibs to find confluence and danger/target areas.

However, at extremes where there is no PA history ... hmmm ... perhaps, like you, it's best for me to stay out altogether.

Anyone else have any thoughts?

D
  • #115,190
  • Aug 8, 2012 7:36am Aug 8, 2012 7:36am
Quoting Martin600
Mike can I ask you on your opinion on yesterday´s BUOB on GBPNZD ? I think that it was good place( BRN acting as strong support) but I´m not sure if this outside bar wasn´t too small. And then is it a divergence on my chart or not ?
Looks good Martin. I would have wanted to see a stronger close but this one was easy good for the FTA which was very close though and I think into the strong trouble areas slightly higher now too. I also went long aud/nzd so that was enough exposure for me to nzd.

The best to me was the 4hr off this chart that I missed and am kicking myself since i was watching it.

Best
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 32 KB
  • #115,191
  • Aug 8, 2012 7:40am Aug 8, 2012 7:40am
Quoting fxgroup
For all new comer/ traders:

I'm not posting this trade to show me off, but in order to show how important is to study all the concepts from THIS thread.
All the elements of this trade are based of what have been told , learn and studied in THIS thread. All you find HERE is enough to start beeing profitable !

A big thanks to Jim, Mike and all of the guys that made this possible !
sick!

Great trade and patience. That trend was strong

Good job
Mike
  • #115,192
  • Aug 8, 2012 7:44am Aug 8, 2012 7:44am
Quoting dabbledave
Thanks PhAnTi,

Still going through early pages of the thread where it's asserted that PBs like other setups are more reliable on higher timeframes.

Question is because these currency pairs are in previously uncharted price territory (lows) would the PB nose bouncing off the bollinger be enough? What other indicators might one use to add "confluence" or support for a trade where there is no prior PA history at these prices?

Or do the experienced stay out of trend reversals at extreme price levels?
If the trend is huge BIG BARS

Reversal bars are great with confluence, but sometimes a bar itself is enough.


Where people get hurt and where people say "pins" fail. Is they try to take little tiny nothing pinbars verse a strong trend. Without strong confluence those bars will barely work and fail more times then not.

Here is a big reversal bar in no mans land against a strong trend.
Usd/chf weekly chart



Best
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: 7-15-2012 usdchf weekly.gif Size: 29 KB
  • #115,193
  • Aug 8, 2012 7:45am Aug 8, 2012 7:45am
For those of you who missed playing EUR USD yesterday , it was an easiest thing to play .... Although I was not absolutely sure about this one , so I entered with small lot size and did not pre-share it ... But it seems to be working out nicely ...
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 19 KB
Human
  • #115,194
  • Aug 8, 2012 7:54am Aug 8, 2012 7:54am
Quoting dabbledave
Hi all,

Just wondering if/how the experienced play weekly pins at extreme lows.

Here are two examples of last week's pin-like bars on two Euro pairs.
Hey Dave

You are looking for them in the right location very good

See after reading my post here if you understand why these might not be good ones though.
http://www.forexfactory.com/showthre...84#post5913284

A good thing is to zoom your charts out more so you can get perspective of size of your bars verse previous moves.


Best
Mike
  • #115,195
  • Edited 8:33am Aug 8, 2012 8:13am | Edited 8:33am
Quoting PhAnTi'
nice one bro

what made u selling the roof ?

regards,
Jonas
The 0.79500 area with the massive consolidation, way back in 2008


EDIT:

Sorry, Phanti
I was on my tablet and could not post the chart. Haven't worked that function out yet on a tablet.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1.gif Size: 119 KB
Click to Enlarge Name: 2.gif Size: 31 KB
  • #115,196
  • Aug 8, 2012 8:18am Aug 8, 2012 8:18am
Quoting Chanya
Hey Jonas ... What roof are you referring to ?
synonym for selling high,sry ^^
Hero calls followed by margin calls...
  • #115,197
  • Aug 8, 2012 8:20am Aug 8, 2012 8:20am
Quoting dabbledave
Thanks again.

I'm trying not to use any indicators at all; learning to filter PA set-ups by using manually-drawn trend lines, manually-drawn pivot zones, and fibs to find confluence and danger/target areas.

However, at extremes where there is no PA history ... hmmm ... perhaps, like you, it's best for me to stay out altogether.

Anyone else have any thoughts?

D
pivots does have strict calculations, they cant be drawn manually.

Yes, bett stay away as long as you dont feel comfortable.
Hero calls followed by margin calls...
  • #115,198
  • Aug 8, 2012 8:22am Aug 8, 2012 8:22am
Quoting PhAnTi'
pivots does have strict calculations, they cant be drawn manually.

Yes, bett stay away as long as you dont feel comfortable.
You are thinking of Pivot Points Phanti. Those use calculations of OHLC

Pivot zones are what we use here are just PPZ Price pivot zones, or flips of S/R that have no calculation to them

Best
Mike
  • #115,199
  • Aug 8, 2012 8:24am Aug 8, 2012 8:24am
Quoting jsvihla
I am not sure if I should look for divergences as I would like to get rid of the one indicator I use (RSI) which I only use for divergences. I am not sure what the predictive power is because trading divergences kills you if we have a trend. I am wondering whether the predictive power of divergences increases if we find a divergence in overbought/sold territory (both points of reference being below/above 30?70)? Or it doesn't make any difference?

NOTE: I do not trade divergences alone, I consider other factors as I should. I am only asking if...
I think it's better to understand what divergence really is, than trying to figure out how to use these indicators. Many times technically you will see divergence on your indicator, but it will still kill you

Attached Image (click to enlarge)
Click to Enlarge Name: div.png Size: 84 KB
  • #115,200
  • Aug 8, 2012 8:43am Aug 8, 2012 8:43am
Quoting Chanya
For those of you who missed playing EUR USD yesterday , it was an easiest thing to play .... Although I was not absolutely sure about this one , so I entered with small lot size and did not pre-share it ... But it seems to be working out nicely ...
Cool trade Chanya. To the pip! I didn't see the possibility of selling... shame on me!

Your are looking to buy at the 1.2993 region, right? I had already set up an order at that level too. (Check my chart) But what if price closes bellow? Would you be willing to sell at the same level on retest?

Cheers and good trading!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 08082012.jpg Size: 336 KB
48 traders viewing now