james16 Chart Thread | Page 5853 | 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

  • #117,041
  • Sep 1, 2012 5:55pm Sep 1, 2012 5:55pm
Quoting brzvadeg
Attachment

Attachment
Interesting situation. Weekly downtrend can be broken. But,I want to sell on the re-test 1.26321. Maybe should sell at the first touch? What do you think?

I like it, brzvadeg . .that level (1.2633) is back into Space and did react strongly. Until Price can Close above that level and some others . .it will be Resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: eur01.jpg Size: 115 KB
Indicators show the past. Price Action "Indicates" the future.
  • #117,042
  • Sep 1, 2012 6:05pm Sep 1, 2012 6:05pm
Quoting Pinbar
Jim, would you have played the SL like that in a live trade?

Classic J16 management I suppose but, leaves just too much risk on the table for my liking.

Sure I would. (see my EurAud and EurNzd charts)

The S/L below the BUOB . . the risk is the same . .1%-2% in 100 pip or 50 pips or 300 pips is still the same risk . .not sure I understand what you're saying.

Let's watch how Price develops on the EurSek if we would have enter on Fridays Close or the retrace to the HCR level at 8.3123.

Yeah, I know . .watch Price drop like a rock . .lol . that could happen but let's see what happens . .

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: eursek 02.jpg Size: 93 KB
Indicators show the past. Price Action "Indicates" the future.
  • #117,043
  • Sep 2, 2012 12:29am Sep 2, 2012 12:29am
Quoting jarroo
I like it, brzvadeg . .that level (1.2633) is back into Space and did react strongly. Until Price can Close above that level and some others . .it will be Resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: cxbx.gif Size: 22 KB


If price close above 1.2633 or 1.2707 better, it will return into space and it will have enough space to reach 1.3030. I understand you correctly?
  • #117,044
  • Sep 2, 2012 2:08am Sep 2, 2012 2:08am
Quoting jarroo
So you think its coming down (EurAud) . . .could be . .Its sure is showing signs of Resistance..
You also seem to have piled up some proft now. This is a very nice SL method to catch runners like this, Jarroo.

Hm, I'm not sure what to make out of the 4h PB from friday. It may just be the obligatory friday sell-off or the start of some bigger retrace. Looking at it again the 50 % Fib might also be a good projection before it really collapses. It lines up with a former swing low and the start of some bigger sell-off on its way down.

My bet for next week is that it will at least consolidate between here and 1.2050 for a while. If it breaks below that area I might consider a short term trade to the downside. Let's see...

Thanks for your help!
Hans
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 120901_01.jpg Size: 118 KB
Click to Enlarge Name: 120901_02.jpg Size: 107 KB
Thanks J16, Sam Seiden, Udine and Jacko
  • #117,045
  • Sep 2, 2012 2:46am Sep 2, 2012 2:46am
Here's an interesting one:

The monthly EURCAD chart show a bullish pin-like bar at an extreme low and against the dominant trend.

The daily show a bearish pin-like bar, with the dominant trend (but also with some recent traffic around the tail area).

Neither pin is convincing, but as a general rule is the monthly PA likely to trump the daily PA in this sort of scenario?

About Fibs:

The daily pin-like bar comes off a 23.6 Fib. Does anyone take any notice of 23.6 Fibs as a confluence factor? If not, do you even bother to have it show on your charts?
  • #117,046
  • Sep 2, 2012 6:37am Sep 2, 2012 6:37am
Quoting jarroo
Sure I would. (see my EurAud and EurNzd charts)

The S/L below the BUOB . . the risk is the same . .1%-2% in 100 pip or 50 pips or 300 pips is still the same risk . .not sure I understand what you're saying.

Let's watch how Price develops on the EurSek if we would have enter on Fridays Close or the retrace to the HCR level at 8.3123.

Jim
Hi Jim:

The PBT&CA candle broke two HCR levels.

If you had entered on Thursday from the higher HCR - wouldn't the trade be considered OVER since price closed below the HCR?

However, if you entered on Friday from the lower HCR - The trade would still be open....

I thought the higher HCR was the better level.

Would you have entered twice?

Regards,
JS
  • #117,047
  • Sep 2, 2012 9:00am Sep 2, 2012 9:00am
Jarroo, could I know your opinion about this close on eurusd??
Close is weak, followed by quite strong rejection...I know that Chanya don't like when close is weak like that...

thanks for response
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 26 KB
  • #117,048
  • Sep 2, 2012 9:11am Sep 2, 2012 9:11am
I think it's time for another try on gbpusd - I just can't get profit on this pair recently be and be...
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 27 KB
  • #117,049
  • Sep 2, 2012 9:41am Sep 2, 2012 9:41am
Quoting dabbledave
Here's an interesting one:

The monthly EURCAD chart show a bullish pin-like bar at an extreme low and against the dominant trend.

The daily show a bearish pin-like bar, with the dominant trend (but also with some recent traffic around the tail area).

Neither pin is convincing, but as a general rule is the monthly PA likely to trump the daily PA in this sort of scenario?

About Fibs:

The daily pin-like bar comes off a 23.6 Fib. Does anyone take any notice of 23.6 Fibs as a confluence factor? If not, do...
Hey DD

Generally the best thing is to separate your two timeframes. Each timeframe has its own ebb and flow. So both can work out, as well as both can not work independent of the other. In this case we can find reasons to avoid both as you said above, but even if both were good they could also both be played and do their thing. If you notice with James charts he sticks to just the timeframe he is trading. That simplicity is important.

As for the fib, I think we should take it for what it is. In each case its a number that represents a retracement of a previous move. They are most strong when combined with other confluence factors. We can see the market already did react at the 23.6. Now like you said price is sideways and thats the next piece of info. The stronger fibs in my eyes are the 50% and higher, especially when other confluence comes in. 61.8 lines up with BRN of 1.3 and 50 with the under side of a box as well.

Best
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 26 KB
  • #117,050
  • Sep 2, 2012 11:57am Sep 2, 2012 11:57am
Quoting jarroo
Hey James . .I can't find this pair on my feeds . .How's it working out?
Hi jarroo,

my SL was hit by high spread and black friday
I know, it will be my cup of tea....time, practise, time....
Attached Image (click to enlarge)
Click to Enlarge Name: capture-20120902-114412.jpg Size: 139 KB
  • #117,051
  • Sep 2, 2012 1:03pm Sep 2, 2012 1:03pm
Hey guys,
About what % of the gains/trade are lost due to the rollovers? I noticed pairs with 1pip rollover/day.
I don't need easy. I just need possible.
  • #117,052
  • Sep 2, 2012 1:46pm Sep 2, 2012 1:46pm
Quoting DaGrizlyBull
Hey guys,
About what % of the gains/trade are lost due to the rollovers? I noticed pairs with 1pip rollover/day.
Hey DGB

Swap rates (+ and -) are dependent on the rates your broker offers/pairs etc. If you check your brokers website they should have section on swap/rollover/carry rates

Best
Mike
  • #117,053
  • Sep 2, 2012 1:48pm Sep 2, 2012 1:48pm
Quoting DaGrizlyBull
Hey guys,
About what % of the gains/trade are lost due to the rollovers? I noticed pairs with 1pip rollover/day.
I'm not paying attention to this - we gain and we lose(on swap) so in a large amount of trades there should be no gain and no lose (theoretically, practically close to zero)

Because what you gonna do ?? Only buy usdjpy, not sell (example)?? And I don't think this is large amount of money either way...
  • #117,054
  • Sep 2, 2012 1:52pm Sep 2, 2012 1:52pm
Ripe for a short.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euraud9212.gif Size: 13 KB
Click to Enlarge Name: euraud9212daily.gif Size: 13 KB
Click to Enlarge Name: euraud9212h4.gif Size: 12 KB
  • #117,055
  • Sep 2, 2012 2:04pm Sep 2, 2012 2:04pm
When you look at the EURAUD and EURNZD the current chart patterns are relatively simple. There are only so many current weekly and daily lines to draw on thes 2 pairs right nowand thus only so many lines to interpret in light of current price action. One can get caught up in trying to decide which lines are more important when there are multiple daily and weekly lines. So look for the clean charts with simple and clear lines pointing the way to high probability trades. OK enough pontificating. Let's trade!!!
  • #117,056
  • Sep 2, 2012 2:07pm Sep 2, 2012 2:07pm
EURAUD and EURNZD opened with sizable gaps.
  • #117,057
  • Sep 2, 2012 2:08pm Sep 2, 2012 2:08pm
Quoting Winston Reed
EURAUD and EURNZD opened with sizable gaps.

which way . .?
Indicators show the past. Price Action "Indicates" the future.
  • #117,058
  • Sep 2, 2012 2:09pm Sep 2, 2012 2:09pm
Quoting jarroo
which way . .?
UP!
  • #117,059
  • Sep 2, 2012 2:10pm Sep 2, 2012 2:10pm
Quoting Winston Reed
UP!

Indicators show the past. Price Action "Indicates" the future.
  • #117,060
  • Sep 2, 2012 2:13pm Sep 2, 2012 2:13pm
Quoting Winston Reed
UP!
euraud opened above 1.22??
104 traders viewing now, 1 is registered:
j_melancon