james16 Chart Thread | Page 6175 | 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

  • #123,481
  • Feb 27, 2013 4:37pm Feb 27, 2013 4:37pm
Quoting mbqb11
all the xxx/jpy talk

Here is my trade. Took a retrace to the beautiful PPZ at the BRN of 95 which is a retrace of the massive beob on daily

i'm at b/e now

pretty classic j16 stuff

Hi Mike,

Was interesting to see your take on this one...
Pick your brains for an updated analysis?

Always great to hear your thoughts!

Regs,

Mark
Attached Image (click to enlarge)
Click to Enlarge Name: aj.gif Size: 17 KB
Time for a new chapter
  • #123,482
  • Feb 27, 2013 7:27pm Feb 27, 2013 7:27pm
Quoting markf45
Hi Mike,

Was interesting to see your take on this one...
Pick your brains for an updated analysis?

Always great to hear your thoughts!

Regs,

Mark
Hey Mark

I just got stopped out for b/e. Had a great month was trying to catch a runner. The bottom box held(was looking for a deeper retest into 92.50) and we never got it. The 95 pivot is still key but based on my retrace entry certainly not worth taking any more risk on.

Best
Mike
  • #123,483
  • Feb 27, 2013 7:28pm Feb 27, 2013 7:28pm
Quoting Magestic
It can be a nice area to watch for both sell and buy, if it unfolds like that.
great chart M, just a beautiful pivot zone at the BRN of 11.5

Trading going well? Your charts have been improving greatly


Keep it up
Mike
  • #123,484
  • Feb 27, 2013 7:53pm Feb 27, 2013 7:53pm
Quoting Jomi
Hey Mike,

What to think about this BEOB Monthly on GBPJPY? Reacted of Monthly pivot 148.2. Nice one to attack short?

Attachment
Hey Jomi

How goes it

Nice beob forming but not a ton of information in terms of confluence. Looks like we should see further downside to at least the 135 where traffic starts to kick in, seems likely at this point

take care
Mike
  • #123,485
  • Feb 27, 2013 8:18pm Feb 27, 2013 8:18pm
Quoting Hummar
I made a short at 1.33 so I have nice profit right now. First I thougth about exit because of this consolidation but I have decide to stay. Consolidation is within area of 32.8 fibo retracement, so nothing extraordinary. I have my SL above 1.3170 which is 50 fibo area and there is a nice resistance as well. I will not be surprised if price reach that level before further move down. I just try to train my trade management abilities and stay rational. I am curios what Mike would say about it?
Hey guys

The problem I have is with the location of the beob(for fascist). Now Hummar you are in earlier so that gives you some more options but I spoke about this in my webinar last night

I don't feel that you have as many options no matter if you entered at 1.33(which was a KILLER entry), or the break of the beob(I took the break of the usd/dkk). So playing the most recent beob outright is very tricky

This is where people get caught with continuation bars. Here we have a big beob at a swing low, but right under us is a major PPZ and BRN of 1.3. So right away I start to say how can I handle this. And ultimately it limits my management options so it's an easy pass.

Again not neccesarily wrong but I always get worried with continuation bars for this reason. Key now is a break of 1.3 and that holding as resistance, I wouldn't want to sell into that though prior. If i was in from 1.33 max my stop loss would be would be at 1.3150

Hope that helps guys
Mike
  • #123,486
  • Feb 27, 2013 9:37pm Feb 27, 2013 9:37pm
Quoting Mayube
J16 Thread

Having stumbled across this thread by a Google search ofprice action, I have to say “WOW”!!!!!!!!!!!!!! This is pure gold. God bless people like you guys that offer this info forfree. Others charge an arm and a leg for pure garbage. I will join the PF laterthis year.

[size=3][font=Calibri]I have been glued...

Hey Mayube

Welcome to the thread and thanks for the nice comments. Glad we can help in some way

Quote
I have a 17”. Do I needmore than one? I have struggled too long with this, when I should be studyinghow to trade. Is there any video to show me how to set up my charts so they canlook the same size as yours? I am not too worried about the shape of bars, as Iunderstand different feeds will cause this. Sorry for this stupid question, but I need to feel comfortable with whatI see or I will make silly mistakes. Lastly, I really like the look and feel ofNinjaTrader, especially chart trading. Thoughts?

It's not your monitor, that stuff doesn't matter. It is often just the amount of bars you are displaying in the one frame. For example I display roughly 225 bars. The more bars you allow to view in your screen(yours might be double this) the more the bars automatically shift to give you a perspective of size verse that time span. Everyone has a different comfort zone. I often tell people to zoom out cause they might have 50 bars in their screen, but it depends on what is comfortable. Same goes for platform. Whatever you are comfortable with, the material doesn't change.

Quote
James trades intraday charts of these futures instruments,and others. What broker is he using to watch ? I don’t want to trade this yet.I will just watch the action for a few years. Any system that I can use forfree to do this now? I am interested in M5 or 2000 ticks, but will not tradefor a few years. I just want to get a feel for price. I need to be able tostudy charts in real time for free, and the charts should be easy to use and beuser-friendly.

I am not too clear whether it is better to trade the futuresor spot currency market? Any ideas?...

James uses multiple brokers often you will see the non FX displayed from tradestation for charting.

As for futures vs currency both are fine, currency is bigger and easier to access broker wise, but both are very similar in terms of movement. On a forum like this the majority are going to be in the spot market. That's the cash market

Hope this helps and if you have more questions let us know
Mike
  • #123,487
  • Feb 27, 2013 11:02pm Feb 27, 2013 11:02pm
As far EJ goes I am watching from the sidelines for the clear picture to emerge.

Attached Image (click to enlarge)
Click to Enlarge Name: eJ wedge.GIF Size: 19 KB


Below is an interesting scene from Eur/AUd

On a daily the price gets rejected at trendline.

Attached Image (click to enlarge)
Click to Enlarge Name: ea trendline.GIF Size: 12 KB



On 4 hour the confluence area is acting as a strong resistance. I am keeping an eye on 2800.


Attached Image (click to enlarge)
Click to Enlarge Name: ea confluence.GIF Size: 16 KB
Regards Inditrader
  • #123,488
  • Feb 27, 2013 11:04pm Feb 27, 2013 11:04pm
Quoting mbqb11
Hey guys

The problem I have is with the location of the beob(for fascist). Now Hummar you are in earlier so that gives you some more options but I spoke about this in my webinar last night

I don't feel that you have as many options no matter if you entered at 1.33(which was a KILLER entry), or the break of the beob(I took the break of the usd/dkk). So playing the most recent beob outright is very tricky

This is where people get caught with continuation bars. Here we have a big beob at a swing low, but right under us is a major PPZ and...
Thanks Mike for the reply.

I saw the BEOB, thought it was a no brainer J16 trade and took it. I didnt look properly at the weekly which show a clear PPZ at 1.3000. I thought i've learned enough and this trade has humbled me greatly. In my experience (for whatever its worth), such continuation bars usually precede a large further movement in favour of me. But heres another mistake:

- Opening a larger position then you can take. If it moves against me, worry and panic sets in, then a dilemma - should I cut or leave it since it might just reverse and i would have make a right trade decision in terms of direction but a loss trade. Meanwhile, position moves further against you forcing you to cut back but you also know after a large retrace it should lose steam and that you should hold off cutting loss and be patient for the retrace to end, which might continue for some time.

argh. bottomline i mean a poor decision.
  • #123,489
  • Feb 27, 2013 11:16pm Feb 27, 2013 11:16pm
Hi Mike,

We have a very interesting situation on EU. The conflicting scenario on multi TF's made me keen to know how do you handle this situation.

On monthly we are at support whereas
Attached Image (click to enlarge)
Click to Enlarge Name: EU monthly.GIF Size: 14 KB


on weekly we are at huge resistance

Attached Image (click to enlarge)
Click to Enlarge Name: EU WEEKLY.GIF Size: 12 KB


On daily we are at a PPZ and price clears both the EMA's upside.

Attached Image (click to enlarge)
Click to Enlarge Name: EU Daily.GIF Size: 12 KB


Whether it is a sign of possible reversal is a diffrent subject. My question is how do we handle this situation. Are we going with the highest TF i.e:monthly TF in this case.
Regards Inditrader
  • #123,490
  • Feb 28, 2013 12:48am Feb 28, 2013 12:48am
Quoting mbqb11
great chart M, just a beautiful pivot zone at the BRN of 11.5

Trading going well? Your charts have been improving greatly


Keep it up
Mike
I think I'm starting to have a "feel" of a chart. Thank you, Mike. Your words are encouraging.
If not up, then down, otherwise sideways :-)
  • #123,491
  • Feb 28, 2013 2:12am Feb 28, 2013 2:12am
Hey there,

What do you think about this one, it's coming back to test 77.00 RN and last swing low +50Fib Ret as well.
Comments always appreciated.

https://www.dropbox.com/s/kmgjrd2azadbqq0/nzdjpyH4.jpg
  • #123,492
  • Feb 28, 2013 5:20am Feb 28, 2013 5:20am
  •  Hummar
  • | Joined Sep 2012 | Status: May the price action be with you | 27 Posts
Beautiful H and S pattern at 1.0300 with divergence on USD CAD H1 chart. However D1 uptrend is strong, so I play this on demo. Let's see what happen next.
Attached Image (click to enlarge)
Click to Enlarge Name: usd cad h1 28.02.2013.gif Size: 21 KB
  • #123,493
  • Feb 28, 2013 6:31am Feb 28, 2013 6:31am
  •  Hummar
  • | Joined Sep 2012 | Status: May the price action be with you | 27 Posts
Lets build a pyramid...thats what happen when an egyptologist spend too much time in front of charts LOL
Attached Image (click to enlarge)
Click to Enlarge Name: usd cad pyramid.gif Size: 20 KB
  • #123,494
  • Feb 28, 2013 7:57am Feb 28, 2013 7:57am
Quoting mbqb11
I think you guys are splitting hairs over the same thing. We have a variety of things that can be considered a double bottom. From the clear obvious double bottom, to the less clean double bottom like the eur/usd

Think of it this way guys. The more major a swing point the better a candidate for a potential higher quality double bottom/top

This is a more minor swing point so it could be a more minor bottom for awhile



Mike

Nope, wasn't splitting hairs at all.
It is as, the original poster and I said, a double bottom.
Don't recall saying it was a good one though.
  • #123,495
  • Feb 28, 2013 9:06am Feb 28, 2013 9:06am
Quoting inditrader
Hi Mike,

We have a very interesting situation on EU. The conflicting scenario on multi TF's made me keen to know how do you handle this situation.

On monthly we are at support whereas
Attachment

on weekly we are at huge resistance

Attachment

On daily we are at a PPZ and price clears both the EMA's upside.

Attachment

Whether it is a sign of possible reversal is a diffrent subject. My question is how do we handle this situation. Are we going with the highest TF i.e:monthly TF in this...
Hey Indi

One thing I do is not really use a multi time frame analysis in any of my trading. I believe in treating each timeframe separate as each one will have its own ebb and flow. It is tough enough to analyze properly and construct a trade plan on one timeframe let alone blending these timeframes in my view. So for me I treat each one seperate and if something appears then I just move from there. The only case this is slightly different for the most part is breakout patterns(and a few other exceptions)

Best
Mike
  • #123,496
  • Feb 28, 2013 10:19am Feb 28, 2013 10:19am
Just entered _demo_ this two day pinbar (inside bar also) after break.

Reasons:

Entered the retracement to RN + PPZ aiming for trend continuation.
The 2 day pinbar closed past the RN and PPZ, and (I think) there is space.
Not aganist divergence.

Initial tp of half position in first trouble area defined by recent low closes of previous bars.

Blue line -> Entrance
Yelow line -> Initial tp half position
Attached Image (click to enlarge)
Click to Enlarge Name: 1362053068.gif Size: 21 KB
  • #123,497
  • Feb 28, 2013 10:32am Feb 28, 2013 10:32am
Thanks Mike! Your material and help is really paying off for me
  • #123,498
  • Feb 28, 2013 11:05am Feb 28, 2013 11:05am
Quoting Armagedoom
Just entered _demo_ this two day pinbar (inside bar also) after break.

Reasons:

Entered the retracement to RN + PPZ aiming for trend continuation.
The 2 day pinbar closed past the RN and PPZ, and (I think) there is space.
Not aganist divergence.

Initial tp of half position in first trouble area defined by recent low closes of previous bars.

Blue line -> Entrance
Yelow line -> Initial tp half position
And just closed full position with 1/3 of the risk as profit (risk 1, profit 1/3). Im focusing now on the entrances and FTA, but in the future I intend to go BE at those spots then let the rest run.

http://i.imgur.com/aw6Wa6l.png
  • #123,499
  • Feb 28, 2013 12:11pm Feb 28, 2013 12:11pm
  •  Hummar
  • | Joined Sep 2012 | Status: May the price action be with you | 27 Posts
As planned I shorted NZD USD at 0.8319 (strong R/S, 50 fibo retracement of the D1 BEOB - possibly breakout), put SL to BE. I have done this on the demo account because of the irregular TL. I'm thinking of short at the real account if the D1 BEOB will be broken.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nzd usd 28.02.2013 d1.gif Size: 28 KB
Click to Enlarge Name: nzd usd 28.02.2013 h1.gif Size: 24 KB
  • #123,500
  • Feb 28, 2013 1:37pm Feb 28, 2013 1:37pm
Quoting MUNkeyRO
Thanks Mike! Your material and help is really paying off for me
glad to hear that bud

Mike
31 traders viewing now