james16 Chart Thread | Page 6189 | 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

  • #123,761
  • Mar 13, 2013 6:55am Mar 13, 2013 6:55am
Quoting jarroo
No problem Steve. . Let's keep an eye on the Weekly LCS level on the Nzdusd (in blue). Price has been dancing and bamming upwards from this sucker for a while now on many TFs. We'll see long this continues ..

Is that Feed FXPRO, seems like the gap is more distinct in your chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 470 KB
  • #123,762
  • Mar 13, 2013 9:11am Mar 13, 2013 9:11am
Quoting ymo613
Hello Everyone,
I started reading this thread a few years ago and now I have the patience to give this thing a shot! I opened a demo account and took the following trade (see chart, arrow is entrance) on the Eur/USD daily chart. My reasons were: 1. Hit the top of the channel 2. Small pin bar 3. divergence on the macd. My tp is current at the most recent support (faint dotted grey line). Although with a strong moving I was thinkg of moving it towards the bottom of the channel. Any opinions? If I missed someone or am off the mark I would love...
Hey Ymo

Welcome back to this thread

Be careful here that bar is not a pinbar but it is a small neutral bar. Remember a pinbar should have a nice big long nose and you want to look for them at swing highs/lows when starting

Here is an example of a beautiful big bearish pinbar at a swing high

A neutral bar is when you have an open and close near the middle of the bar with tails stick out of both ends


Hope this helps
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 30 KB
  • #123,763
  • Mar 13, 2013 9:14am Mar 13, 2013 9:14am
Quoting ken.b
Thanks Mike for your advice,

What we should know about trading BEOB and DBLHC at swing high? Is there a different set of criteria?

Also, based on this chart, assuming a pinbar is formed, there is space on the left but there is also traffic above it. What's your opinion on this?

Kenny
Hey Kenny

Trading a beob and DBLHC at swing highs is how James introduces this material in the thread. You wan to start by looking for them at clear swing points. I just posted an example bar above this post

As for you chart you are correct that is the traffic or FTA

I would be more likely to watch the BRN of 1.25 and the descending TL(it's a more accurate more used TL). for longs I want to see price get above this TL

Best
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 25 KB
  • #123,764
  • Mar 13, 2013 9:15am Mar 13, 2013 9:15am
Quoting jarroo
Hey inditrader. Thanks .. ..I was taught from the best . . James16, Mike(mbqb11) and few others on this thread. I enjoy helping as others have helped me.

Just to continue with your Tsunami analogy . .a Tsunami is at its strongest when its out in the ocean . .in trading a trend is strongest in Space. The tsunami slows down when it hit the shore . .in trading the trend slows down or even stops and reverses when it hits "traffic" or lack of Space.

just some thoughts,

Jim
Thats a great quote my lord
Regards Inditrader
  • #123,765
  • Mar 13, 2013 9:20am Mar 13, 2013 9:20am
Quoting mbqb11
Hey Ymo

Welcome back to this thread

Be careful here that bar is not a pinbar but it is a small neutral bar. Remember a pinbar should have a nice big long nose and you want to look for them at swing highs/lows when starting

Here is an example of a beautiful big bearish pinbar at a swing high

A neutral bar is when you have an open and close near the middle of the bar with tails stick out of both ends


Hope this helps
Mike
Thanks Mike!

I wasnt sure about that bar, thanks for clearing that up! Someone else replied to me earlier about not looking at enough bars, how long of a time period on the daily chart do you normally look at? Also everyone seems to have different ema's or sma's, some have macd or pivot's, ect.... is there a basic chart set up to start with and then customize from there or everyone decides for themselves as they go along?

Thanks,

Jon
  • #123,766
  • Mar 13, 2013 9:21am Mar 13, 2013 9:21am
Quoting inditrader
Here is EUR/USD daily.


Bar 1 is Green outside bar engulfing so many previous bars.

Bar 2 is red outside bar.

Bar 3 is again a red outside bar.

Now the bottom of bar 1 is broken and it is flip in support turning in to resistance.

At the same time the low of bar 2 is a huge resistance.

Bar 3 is a sign of continuation.

Hence point A and B together represent a huge resistance area.

Incidentally the close of yesterday also represents the same area.

A,B and C together form an incredible resistance area.

Unless some one with big pocket thinks...

I got stopped out from my first short trade yesterday though my direction proved to be right by today. price went through the resistance by 40 pips. As adviced by Mike I traded in the range where one had very less information. A correction required at my end.

I think the price was too weak to gain any advantage from the divergence. However I cannot say its a failed divergence as still 8 hours of trading is left for the day.

What all I did was to bring my stop to the breakeven.



Attached Image (click to enlarge)
Click to Enlarge Name: eu divergence.png Size: 33 KB
Regards Inditrader
  • #123,767
  • Mar 13, 2013 9:22am Mar 13, 2013 9:22am
#EURUSD
http://3.bp.blogspot.com/-dxnkeo2Z4n...600/eurusd.JPG
  • #123,768
  • Mar 13, 2013 9:25am Mar 13, 2013 9:25am
at last the euro pairs moves... and thanx Jarroo for cadchf
all is eternal - this is good news for people who loves bad news
  • #123,769
  • Mar 13, 2013 1:38pm Mar 13, 2013 1:38pm
Quoting Pinbar
Is that Feed FXPRO, seems like the gap is more distinct in your chart.
Yeah ..its a FxPro feed . .that's weird.
Indicators show the past. Price Action "Indicates" the future.
  • #123,770
  • Edited 1:56pm Mar 13, 2013 1:46pm | Edited 1:56pm
Quoting inditrader
Thats a great quote my lord
Thanks inditrader . .

Space in trading is a beautiful thing . . .Its what we like to trade into . .it strengthens past levels . .it allows our trades to run . . . Its what Mike(mbqb11) talks about and stresses all the time in our setups...

We love that Space in trading . .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #123,771
  • Mar 13, 2013 1:56pm Mar 13, 2013 1:56pm
Quoting meshka
at last the euro pairs moves... and thanx Jarroo for cadchf
Sure thing meshka . .you saw it too and some others did too .

Notice how even that minor HCR level at the .09190 played a role. Interesting where the Lows of the Day were . .

Are you shorting at the LCS levels? .9273-.9268. We'll see where the Daily closes. . .although that Daily BUOB (if closes like that today) looks pretty bullish. .

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: cc2.gif Size: 31 KB
Indicators show the past. Price Action "Indicates" the future.
  • #123,772
  • Mar 13, 2013 3:09pm Mar 13, 2013 3:09pm
Quoting ymo613
Thanks Mike!

I wasnt sure about that bar, thanks for clearing that up! Someone else replied to me earlier about not looking at enough bars, how long of a time period on the daily chart do you normally look at? Also everyone seems to have different ema's or sma's, some have macd or pivot's, ect.... is there a basic chart set up to start with and then customize from there or everyone decides for themselves as they go along?

Thanks,

Jon
Hey Jon

The view you see me post charts is what I am most comfortable viewing charts in

So for example in general say a daily chart I have about 225 bars in my view. This is the "view" that I analyze things best at.

For MAs most people here are using what James uses, thats for the most part the longer term 150 and 365 EMA, some of the faster emas are the 25/60

Again it isn't going to make the biggest difference in those numbers the idea for most is to have a short term/medium/long term MA to get a general idea(but most like to match james). I don't use MAs myself

Hope this helps!
Mike
  • #123,773
  • Edited 4:29pm Mar 13, 2013 4:08pm | Edited 4:29pm
Quoting jarroo
Yeah ..its a FxPro feed . .that's weird.

Strange indeed that both our FXPRO feeds have different opens on that candle.

I took the H1 PB break, after the touch of the 150, just to see if it will bham, it did.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 36 KB
  • #123,774
  • Mar 13, 2013 4:28pm Mar 13, 2013 4:28pm
NZD/USD
Let's see how the final close below these bar lows looks.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 475 KB
  • #123,775
  • Mar 13, 2013 4:49pm Mar 13, 2013 4:49pm
HI Pinbar

What do you thing about this one? If close above....
Attached Image (click to enlarge)
Click to Enlarge Name: eurcaddaily.png Size: 51 KB
  • #123,776
  • Mar 13, 2013 5:25pm Mar 13, 2013 5:25pm
Quoting jarroo
Sure thing meshka . .you saw it too and some others did too .

Notice how even that minor HCR level at the .09190 played a role. Interesting where the Lows of the Day were . .

Are you shorting at the LCS levels? .9273-.9268. We'll see where the Daily closes. . .although that Daily BUOB (if closes like that today) looks pretty bullish. .

Jim
no I am just moved my stop loss closer to my entry... waiting for something to happen tommorow with chf .... I bought USDCHF and EURCHF... and short in kiwi. closed all my other EUR positions ...
all is eternal - this is good news for people who loves bad news
  • #123,777
  • Edited 6:22pm Mar 13, 2013 5:52pm | Edited 6:22pm
Quoting long2339
HI Pinbar

What do you thing about this one? If close above....

Morning Long.

Hmm, as you have the SL above the level, did you mean to say "Close Below"?
  • #123,778
  • Mar 13, 2013 6:00pm Mar 13, 2013 6:00pm
sorry....

Below of course
  • #123,779
  • Mar 13, 2013 6:06pm Mar 13, 2013 6:06pm
Pinbar sorry for my English, sometimes I make mistakes.
  • #123,780
  • Edited 6:23pm Mar 13, 2013 6:08pm | Edited 6:23pm
Quoting long2339
sorry....

Below of course

NP, it is a bit tricky in my opinion.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 451 KB
41 traders viewing now