james16 Chart Thread | Page 5932 | 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

  • #118,621
  • Sep 18, 2012 6:00am Sep 18, 2012 6:00am
Hi all,
Mike can I ask you, are you take care of volume on stocks?; these two looking interesting but dangerous cause of volume
Attached Image(s) (click to enlarge)
Click to Enlarge Name: SU.TO.png Size: 53 KB
Click to Enlarge Name: DXCM.png Size: 51 KB
  • #118,622
  • Sep 18, 2012 6:52am Sep 18, 2012 6:52am
Quoting Rosco_P
Possible BUOB trade working itself out here on the 4 hour CAD/CHF. Bounce off a well established daily trendline and almost of 9500 to the pip, and the daily 61.8 which is a nice bit of confluence. With a close above 9525 you have some room to move. (space & traffic).

What do you guys think?

Attachment

4 HOUR

Attachment
I'm watching this one. Here is my view
Attached Image (click to enlarge)
Click to Enlarge Name: 54gif.jpg Size: 161 KB
If not up, then down, otherwise sideways :-)
  • #118,623
  • Sep 18, 2012 7:01am Sep 18, 2012 7:01am
Quoting Pinbar
Take a look at the 1.5820 area on the monthly chart.
It is not surprising why that bar put the brakes on.

Might be an idea to stick to the weekly & daily charts, as J16 stipulates new people do, in post one of this thread.

Makes things look a lot clearer.
So if I understood well:
- There we got a monthly resistance level which means we have to be cautious, because lot of orders are placed there. /sell and buy orders as well/ therefore I should have waited until this level is broken and then open a position - right?

Thank you pinbar!
It's all psychology...
  • #118,624
  • Sep 18, 2012 7:02am Sep 18, 2012 7:02am
Quoting Magestic
PS: Everybody who found this thread is very lucky. It can realy change your life, and prevent you to make mistakes that would ruin your faith in Forex.

Very True Majestic,

I just had my first two trades of J16 method and I am self amazed at my own progress and the way this trade got managed I felt so different than the usual trader in me.

I made more then 150 pips in my first two trade and most importantly it was 'Without any Stress'. Feeling so good about it.
I had never looked or thought of trading through daily timeframes earlier in my life due to its huge SL and risk factor. But its only after coming across this thread that something ( many thanks to James ) stuck to my head and I decided & resolved to myself to trade dailies and learn first.
I was never patient enough earlier to take HTF's.

Thanks James and thank you all in James16 !!!. This thread has made me more realistic/logical towards market.

regards,
Success is 1 % intelligence and 99% perseverance - Edison
  • #118,625
  • Sep 18, 2012 7:08am Sep 18, 2012 7:08am
Quoting rafstraszek
Look at candle I marked with white arrow - my pending was missed by 2-3 pips so I deleted it...
Thanks.

Is it that we consider to enter only on immediate next candle retest ?

Here the candle which retested was the third candle from breakdown and had we taken it, it would have resulted in loss .. also not sure what should have been the stop loss in that case.

Regards
Success is 1 % intelligence and 99% perseverance - Edison
  • #118,626
  • Sep 18, 2012 7:16am Sep 18, 2012 7:16am
Quoting ritesh_fx
I have taken my first trade to AUD/USD today and happy that could see profit. Based on above observation and caution, have took partial profit and now at BE.
Closed this bang on target before 1.04 BRN > 100 pips.


Quoting ritesh_fx
Just missed my first target by 1 pip ... and it went up and finally triggered my SL after which retraced back.. here too SL hit by just 2 pip difference. This could have been profited but needed babysitting.

Guys, whats the typical filter you put up for SL & TP trade.

I am still on in it with 1/2 of my trade
Have managed to close this trade on NZDUSD finally with profit.

Thank You J16
Success is 1 % intelligence and 99% perseverance - Edison
  • #118,627
  • Sep 18, 2012 7:37am Sep 18, 2012 7:37am
took small buy here... 30 pips stop.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDCAD,Daily]_2012-09-18_15-05-22.jpg Size: 105 KB
all is eternal - this is good news for people who loves bad news
  • #118,628
  • Sep 18, 2012 8:02am Sep 18, 2012 8:02am
Quoting LamerTrader
So if I understood well:
- There we got a monthly resistance level which means we have to be cautious, because lot of orders are placed there. /sell and buy orders as well/ therefore I should have waited until this level is broken and then open a position - right?

Thank you pinbar!
If that bar had closed below this area, it may have looked better.
But, we had just had two daily candles close above it.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 114 KB
  • #118,629
  • Sep 18, 2012 8:06am Sep 18, 2012 8:06am
Quoting meshka
took small buy here... 30 pips stop.
I looked at the same area, but wanted PA on the 4 hour chart. Looks pretty good, but I'm already in on the weekly timeframe. Only moved down to the 4 hour for training purposes, but I would've entered the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: ff.gif Size: 27 KB
  • #118,630
  • Sep 18, 2012 8:10am Sep 18, 2012 8:10am
Quoting equivestor12
So it took me 6 hours to go through the Russell 3000...I found about 23 setups. I'll post a few...you like any of these Mike?
Hey Equi

I am not too fond of any of them

TOBC and AMB are no longer trading under those ticker symbols so be careful to see if it's still an active equity or there was a merger or something

CLDN -pretty clear FTA of the bar lows just above

CAH -small pin vs stronger bearish move

ESl - probably the best of the bunch in terms of size but a very tight sideways market too and equities can be extra choppy. I would prefer if anything a retracement entry at 55$ on this one

FFIC - a break should get us to 14.50- another interesting one to take a retrace to the 6$ area that intersects with the rising TL.

If you are interested in a faster way to scan your charts please send me an email I'll shoot you a quick video since you took the time to go through so many charts

Best
Mike
  • #118,631
  • Sep 18, 2012 8:12am Sep 18, 2012 8:12am
Quoting LamerTrader
Mornin forex experts!

Could you tell me, why did this Double high lower close on EURNZD Daily fail?
It was a nice setup... -.-" Or why you passed this trade?

Btw today we kinna got the same setup. Whats your opinion?

2) My second question is - how many trades do you have / months? (Jarroo, Mike etc).

Cheers,
Stephen

Attachment
Hey Stephen

If you look your DBHLC never broke so it technically is not a valid DBHLC until it breaks. Also I suggest zooming your charts out so you can see the size of your bars relative to other bars more clearly. In this case two very very small bar combos verse a very strong trend.

As for trades a month it varies greatly. I take what's out there , if that's 5 trades then that's fine if its 20 it's 20. I generally feel as if I am in the 10-20 range

Best
Mike
  • #118,632
  • Sep 18, 2012 8:15am Sep 18, 2012 8:15am
Quoting Magestic
Chart update.

Thats why I like Mike's style. He teaches us to trade logicaly.

PS: I meant my box HOLD, not FOLD
amazing buddy , great job

Best
Mike
  • #118,633
  • Sep 18, 2012 8:19am Sep 18, 2012 8:19am
Quoting bullzeye
USD/JPY

took my whole profit here, H4 PA is showing signs that it will continue the down trend

Attachment
nice Job B, we can always watch the TL for a break as well

Good few trades you had there

Best
Mike
  • #118,634
  • Sep 18, 2012 8:19am Sep 18, 2012 8:19am
Quoting tinkerbelle
Hi all,
Mike can I ask you, are you take care of volume on stocks?; these two looking interesting but dangerous cause of volume
Hey Tinkerbelle

I do not pay attention to volume. I simply analyze the story and bar like I do in FX

Best
Mike
  • #118,635
  • Sep 18, 2012 8:20am Sep 18, 2012 8:20am
Quoting ritesh_fx
Very True Majestic,

I just had my first two trades of J16 method and I am self amazed at my own progress and the way this trade got managed I felt so different than the usual trader in me.

I made more then 150 pips in my first two trade and most importantly it was 'Without any Stress'. Feeling so good about it.
I had never looked or thought of trading through daily timeframes earlier in my life due to its huge SL and risk factor. But its only after coming across this thread that something ( many thanks to James ) stuck to my head and...
congrats Ritesh and keep it up

Mike
  • #118,636
  • Sep 18, 2012 8:21am Sep 18, 2012 8:21am
Quoting meshka
took small buy here... 30 pips stop.
Hey Meshka - I a newbie so sorry for my stupid question - but on what did you base your trade?
Only that there we got a resistance level which was tested but not broken through?

Best,
Stephen
It's all psychology...
  • #118,637
  • Sep 18, 2012 8:23am Sep 18, 2012 8:23am
Quoting mbqb11
Hey FaB

Technically you can sell that pinbar as a breakout + retrace to a pattern. I prefer to have a close below the BRN with PA. I instead used the break of that TL to help with a touch trade I played on the euro. I sold a retest of fridays high as I explained here



Since the markets are so technically in sync right now it is in my belief that when USD gets strong again that it will across the board. Aud/usd being a bit ahead of the curve possibly.


Best
Mike
still holding my shorts since price has now broken the TL. At breakeven but exactly the runner was hoping for. Will watch price around the TL
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 38 KB
  • #118,638
  • Sep 18, 2012 8:48am Sep 18, 2012 8:48am
Quoting bullzeye
USD/JPY

took my whole profit here, H4 PA is showing signs that it will continue the down trend

Attachment
Hey Bullzeye, great charts, you make it look so easy and effortless - .
  • #118,639
  • Sep 18, 2012 8:54am Sep 18, 2012 8:54am
Quoting ritesh_fx
Thanks.

Is it that we consider to enter only on immediate next candle retest ?

Here the candle which retested was the third candle from breakdown and had we taken it, it would have resulted in loss .. also not sure what should have been the stop loss in that case.

Regards
Not only - but I like when mi pending is triggered fast - few days top...And we are interested in only the first retest...so after this marked with white arrow, we don't enter at another...

I think that top of pbt candle is good for sl in this example....
  • #118,640
  • Sep 18, 2012 9:09am Sep 18, 2012 9:09am
Quoting LamerTrader
Hey Meshka - I a newbie so sorry for my stupid question - but on what did you base your trade?
Only that there we got a resistance level which was tested but not broken through?

Best,
Stephen
this is support level, not resistance. yes mainly because of it. price broke up through it and now returned to test it and as we can see @ 4H we can smell some rejection in the air
Attached Image (click to enlarge)
Click to Enlarge Name: [AUDCAD,H4]_2012-09-18_16-51-32.jpg Size: 107 KB
all is eternal - this is good news for people who loves bad news
36 traders viewing now