james16 Chart Thread | Page 6327 | 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

  • #126,521
  • Jul 1, 2013 3:00pm Jul 1, 2013 3:00pm
Quoting Rcubic
Hi everyone, I am a newbie, I have been reading different threads on FF, and study this one for a while, this thread is the one that make more sense to me about what is trading and price action. I love the simplicity of the naked charts, still I am studying this thread and learning a lot, just want to say thanks to everyone who make part of this, reading the last posts, a big thanks to mike, Jon, pinbar and winston, you inspired me and I hope one day I can read the charts like you do, thank you so much for sharing you charts. All the best. Rcubic...
welcome RC

Just take your time and realize it gets easier over time

Ask questions if you need anything!

Mike
  • #126,522
  • Jul 1, 2013 3:43pm Jul 1, 2013 3:43pm
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbpdaily.png Size: 39 KB
  • #126,523
  • Jul 1, 2013 4:26pm Jul 1, 2013 4:26pm
Maybe i just forgot to take my pills and just started seeing things.

GBPJPY i had a short term and a longer (daily term) trend. I wasnt here when it happened but that pin on the BRN and then 2nd (Daily) TR was convincing for me... Im not sayin most probably that huge bar later would have taken out me with 10 pip profit or so but still....

Cheers
Stephen
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ff1.PNG Size: 52 KB
Click to Enlarge Name: ff2.PNG Size: 57 KB
It's all psychology...
  • #126,524
  • Jul 1, 2013 4:45pm Jul 1, 2013 4:45pm
That pin is an ugly one... Yeah true its already above DHCR... I wonder how many people got tricked by it...
Attached Image (click to enlarge)
Click to Enlarge Name: ugly.PNG Size: 52 KB
It's all psychology...
  • #126,525
  • Jul 1, 2013 4:49pm Jul 1, 2013 4:49pm
Quoting mbqb11
{quote} what calendar

lol. dont you bother at all with it?? im suprised seeing as you would actually understand it properly
What about bernies speach last week? was you interested in/watching out for that??


jon
PATIENCE... DISCIPLINE
  • #126,526
  • Jul 1, 2013 4:51pm Jul 1, 2013 4:51pm
Quoting mbqb11
strong potential area, even a potential H&S. We have massive resistance then a huge move up followed my equal move down back through that previous resistance that is now holding as resistance at the BRN. Could be a good area to watch for a breakout of the neckline with the BRN. Or even a big buob will watch close into the next session {image}
Nice, its good to see TLs drawn in properly that have some significance.


jon
PATIENCE... DISCIPLINE
  • #126,527
  • Jul 1, 2013 4:52pm Jul 1, 2013 4:52pm
LamerTrader, there's a pin on the 4 hour too. Its not very big compared to previous bars but the position is nice, and it got broken already the downside. Careful, it's choppy around there.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpyh4.png Size: 45 KB
  • #126,528
  • Jul 1, 2013 4:56pm Jul 1, 2013 4:56pm
Quoting g_j_hook@yah
{quote} lol. dont you bother at all with it?? im suprised seeing as you would actually understand it properly What about bernies speach last week? was you interested in/watching out for that?? jon
Hey Jon


Nope I don't pay attention to news at all just like James. I never felt like doing so helped me at all. I just let the chart do the talking. Of course not wrong, but I often see more people trick themselves out of good trades because of news then using news to their benefit over the years

Best
Mike
  • #126,529
  • Jul 1, 2013 5:09pm Jul 1, 2013 5:09pm
Quoting mbqb11
{quote} Hey Jon Nope I don't pay attention to news at all just like James. I never felt like doing so helped me at all. I just let the chart do the talking. Of course not wrong, but I often see more people trick themselves out of good trades because of news then using news to their benefit over the years Best Mike
Yeah right. i only use the calender in relation to small TF trades, or to understand why price is slow or jumpy etc, i wouldnt even try to trade the news or anything. I dont want to go in that direction. I wish i had your confidence!!
cheers

jon
PATIENCE... DISCIPLINE
  • #126,530
  • Jul 1, 2013 5:10pm Jul 1, 2013 5:10pm
Quoting Pinbar
This was an H1 setup but, it was based on the weekly levels.
I have 2 questions, maybe they are silly but please answer them briefly!

After the break through, do you have to wait for the next bar to close below the weekly level and only after that enter on the next time price touches the weekly level OR you can simply enter at the first touch after the PBT bar, because it's a strong weekly level and we are on a much lower time frame?

Also: where is your SL initially? Just above the PBT bar high?

Thanks in advance!
  • #126,531
  • Edited 9:56pm Jul 1, 2013 7:58pm | Edited 9:56pm
Quoting Almost
{quote} I have 2 questions, maybe they are silly but please answer them briefly! After the break through, do you have to wait for the next bar to close below the weekly level and only after that enter on the next time price touches the weekly level OR you can simply enter at the first touch after the PBT bar, because it's a strong weekly level and we are on a much lower time frame? Also: where is your SL initially? Just above the PBT bar high? Thanks in advance!
Nope not silly at all, there are no silly questions.

This was a little complicated because, it was a double top, an SFP (Swing Failure Pattern) and an upper weekly level where price could have stalled at, where it is stalled right now.
The SFP worked out but, it could have been held up at the upper weekly level so, I actually played the break of the weekly level based on the SFP.

You can find out more about the SFP in this thread. http://www.forexfactory.com/showthread.php?t=287794
Hoe this helps.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbph1.png Size: 77 KB
  • #126,532
  • Jul 1, 2013 9:59pm Jul 1, 2013 9:59pm
Quoting mbqb11
strong potential area, even a potential H&S. We have massive resistance then a huge move up followed my equal move down back through that previous resistance that is now holding as resistance at the BRN. Could be a good area to watch for a breakout of the neckline with the BRN. Or even a big buob will watch close into the next session {image}
The SFP worked out but, as we can see, had we entered based on the close of the SFP candle, it would have given us a large SL with not much room to the FTA.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfh1.png Size: 77 KB
  • #126,533
  • Jul 1, 2013 11:55pm Jul 1, 2013 11:55pm
Hi guys,
Please, can you tell me your opinions about this setup:

USDCHF Daily

1. Four months resistance on 0.9498
2. Down Trend line ?!?!
3. 50% Fibonacci retracement
4. Murray Math Major Reverse Line at 0.9521
5. Bearish Stochastic divergence
6. And maybe correct bearish Pin Bar or Doji ???
Attached Image (click to enlarge)
Click to Enlarge Name: usdchfdaily.png Size: 52 KB
Your best teacher is your last mistake ...
  • #126,534
  • Jul 2, 2013 12:50am Jul 2, 2013 12:50am
Quoting b3g1nn3er
Hi guys, Please, can you tell me your opinions about this setup: USDCHF Daily 1. Four months resistance on 0.9498 2. Down Trend line ?!?! 3. 50% Fibonacci retracement 4. Murray Math Major Reverse Line at 0.9521 5. Bearish Stochastic divergence 6. And maybe correct bearish Pin Bar or Doji ??? {image}
Hey Stephen,

Careful there,

One of the most important aspects of trading in a sideways market (or any market at all) is to never let go off the sight of your trouble areas. We have got a major one at the 9400 region along with the 150 EMA.

Something to be weary off.

g.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.png Size: 31 KB
I believe . . .
  • #126,535
  • Jul 2, 2013 1:19am Jul 2, 2013 1:19am
Quoting ghous
{quote} Hey Stephen, Careful there, One of the most important aspects of trading in a sideways market (or any market at all) is to never let go off the sight of your trouble areas. We have got a major one at the 9400 region along with the 150 EMA. Something to be weary off. g. {image}

Thanks, Ghous !
I did not know these things about sideways market...

PS- Who is Stephen?
Your best teacher is your last mistake ...
  • #126,536
  • Jul 2, 2013 2:51am Jul 2, 2013 2:51am
Quoting b3g1nn3er
{quote} Thanks, Ghous ! I did not know these things about sideways market... PS- Who is Stephen?
Extremely sorry about that. I misconstrued the person behind the username.

Real sorry again...

g.
I believe . . .
  • #126,537
  • Jul 2, 2013 3:10am Jul 2, 2013 3:10am
EURJPY 4 hr pin bar with bearish divergence near 130.00.

What do you guys think?
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.h40001.png Size: 53 KB
  • #126,538
  • Jul 2, 2013 4:05am Jul 2, 2013 4:05am
Quoting Pinbar
{quote} Nope not silly at all, there are no silly questions. This was a little complicated because, it was a double top, an SFP (Swing Failure Pattern) and an upper weekly level where price could have stalled at, where it is stalled right now. The SFP worked out but, it could have been held up at the upper weekly level so, I actually played the break of the weekly level based on the SFP. You can find out more about the SFP in this thread. http://www.forexfactory.com/showthread.php?t=287794 Hoe this helps.

Thanks for the explanation. Sounds pretty advanced though.

So you didn't enter right after the close of that SFP bar? Waited for the prize retrace back below that weekly level and played it jarroo style?

P.S. I lol'ed at your "Hoe this helps." line. I know it was a typo, but still f*ckin hilarious. Haha
  • #126,539
  • Jul 2, 2013 4:10am Jul 2, 2013 4:10am
Quoting ghous
{quote} Extremely sorry about that. I misconstrued the person behind the username. Real sorry again... g.
No problem, man
Your best teacher is your last mistake ...
  • #126,540
  • Jul 2, 2013 4:29am Jul 2, 2013 4:29am
Quoting b3g1nn3er
{quote} No problem, man
I guess Im Stephen
And I got my Daily HCR and thats why i said that pin is not so fancy as it looks.
Damn these markets - i just got a feeling that the "game difficulty" has been changed to expert recently. All those choppy pairs with long wicks - they neither give me nice A+ daily signals, nor nice R/R ratios...

Cheers,
Stephen
It's all psychology...
56 traders viewing now