james16 Chart Thread | Page 6404 | 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

  • #128,061
  • Oct 14, 2013 10:11pm Oct 14, 2013 10:11pm
Check AUDUSD, D TF, possible new pin bar at MA150, level tested second time!

Also, round numbers for resistance level 0.95400:

http://www.mql5.com/en/charts/888390...hf-markets-ltd

Steve
  • #128,062
  • Oct 14, 2013 10:24pm Oct 14, 2013 10:24pm
It seems BIG GUYS got to the same point: let’s make a deal ….and the market is moving!!!



Same scenario, NZDUSD, strong resistance level 0.83900, D TF:

http://www.mql5.com/en/charts/888413...hf-markets-ltd

Steve
  • #128,063
  • Oct 14, 2013 11:24pm Oct 14, 2013 11:24pm
CADJPY, M30 . MACD bearish divergence:

http://www.mql5.com/en/charts/888505...hf-markets-ltd

Down symmetrical triangle on Monthly TF:

http://www.mql5.com/en/charts/888530...hf-markets-ltd

Steve
  • #128,064
  • Oct 14, 2013 11:37pm Oct 14, 2013 11:37pm
Gold, XAUUSD, D TF, descending wedge, BR Fib 61.8, bearish continuing movement:

http://www.mql5.com/en/charts/888556...hf-markets-ltd

Steve
  • #128,065
  • Oct 15, 2013 1:51am Oct 15, 2013 1:51am
Morning from here every one. Mike you always have something for the boys. Ghous I cant be anywhere in this game without you guess. Tic thanx for the PM, i love ti. I cant stop thanking you guys u are the Bomb.


Now to my issue today. Took a trade on GBPAUD last wk thursay for a short. My thought process is stated in the chart attached. After the trigger it was in a choppy market but i still have a strong believe in the whole set up so i held it till Friday. @ Friday close it was still arnd my entry with a little loss so i decided to cover up tight but i was taken out by the gap on monday open resulting in my placing another entry though at a more favorable location.. Pls advise on how i can go about this nxt time it occurs. i.e. To take care of the likely occurrence of gap on the market open on a new week in an open trade over the weekend. Thanx



Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud2.png Size: 98 KB
Attached Image (click to enlarge)
Click to Enlarge Name: update gbpaud.png Size: 91 KB
Attached Image (click to enlarge)
Click to Enlarge Name: update gbpaud h4.png Size: 88 KB



Jibson
Still trying to get to meet myself...
  • #128,066
  • Oct 15, 2013 2:37am Oct 15, 2013 2:37am
Quoting stevebenik
Gold, XAUUSD, D TF, descending wedge, BR Fib 61.8, bearish continuing movement: http://www.mql5.com/en/charts/888556...hf-markets-ltd Steve
Hi Steve! Could you attach your images via the website? (aka upload them instead of sending a link) - It makes our job much easier
Thanks!
It's all psychology...
  • #128,067
  • Oct 15, 2013 3:29am Oct 15, 2013 3:29am
I’ll do my best for next postings. Sorry, I’m still struggling with a 2G connection, that’s the reason I sent only the links,

Txs for understanding,

Steve
  • #128,068
  • Oct 15, 2013 4:18am Oct 15, 2013 4:18am
Quoting prasad99
{quote} Hi Thanks for your support with trading. I would be definitely asking some questions and will be posting some charts for clarifications. Also plan to join the PF in the near future. I want to interact with all and would look forward to help others in future. Here is a quotation by Lao Tzu the chinese philosopher who states... “Mastering others is strength. Mastering yourself is true power.” And this is so apt in trading. Trading is not just mastering the technique but to accomplish that balance and control over the psyche to be able to place...
Hey P,

Yes adopting a picky attitude can take time and a LOT of adjustment. It is rewarding in the sense that I don't know of any other means to achieving a considerable degree of consistency with your performance as well as gain confidence. You will still be making mistakes and taking losses, but being conservative ensures you don't blow up unnecessarily.

A loss hurts. A loss that you can go back to in hindsight and despite the unfavorable result cannot find anything wrong with your analysis is one that is digestible.

Moving along and being able to live with the losses is soo important in this business as they are inevitable. This is also the domain where most new people will struggle for a long time as their mind is still stuck in the illusions of the holy grail. The only way to train yourself to accept such results is to make sure you don't compromise on the quality of the setups and that goes a full circle to connecting directly with the picky attitude. That way you are only taking genuine losses instead of taking genuine losses AND losses where you missed a BRN in the vicinity, thought the small pin bar was worth a shot, or decided to take a little adventure trip by taking a trade straight into traffic.

g.
I believe . . .
  • #128,069
  • Oct 15, 2013 4:20am Oct 15, 2013 4:20am
Quoting dennis4u15
hello Mike, Ghous could you please advice, which websites offer or tell us the major stops regarding currencies and orders regarding barrier options.... it would be easier as we might have some clues of where the buyers and sellers are. Regards Dennis
Hey Dennis, since I personally don't follow that information its hard for me to objectively pin point a source.

Bloomberg maybe?

Again sorry for the lack of definition.

EDIT:


Quoting mbqb11
{quote} hey Dennis You can check out the IFR order board. Oanda offers it through their news program Best Mike
ahh.. there you go Dennis. Fudd to the rescue!

g.
I believe . . .
  • #128,070
  • Oct 15, 2013 4:23am Oct 15, 2013 4:23am
Quoting stevebenik
Hi folks, Watching this thread long time, first time posting. I’m currently struggling to find good trades on this stormy market, what you say about Euro/Jpy, on W TF, strong divergence together with a rising wedge reversal. I’m waiting for PA action with a short pending at the bottom of the wedge: http://www.mql5.com/en/charts/888288...hf-markets-ltd Cheers, Steve
The wedge looks valid but I am wondering how "you're waiting for PA" when you already have a pending order in place?

g.
I believe . . .
  • #128,071
  • Oct 15, 2013 4:35am Oct 15, 2013 4:35am
Quoting stevebenik
Check AUDUSD, D TF, possible new pin bar at MA150, level tested second time! Also, round numbers for resistance level 0.95400: http://www.mql5.com/en/charts/888390...hf-markets-ltd Steve
I think there could be more to this bullish move here. More appropriately put, looking at the daily I tend to feel there is a more solid reasons for sellers to come in at the 9700 area than where price is currently at.

Attached Image (click to enlarge)
Click to Enlarge Name: weekly.png Size: 38 KB


Attached Image (click to enlarge)
Click to Enlarge Name: daily.png Size: 41 KB


g.
I believe . . .
  • #128,072
  • Oct 15, 2013 4:39am Oct 15, 2013 4:39am
Quoting stevebenik
It seems BIG GUYS got to the same point: let’s make a deal ….and the market is moving!!! Same scenario, NZDUSD, strong resistance level 0.83900, D TF: http://www.mql5.com/en/charts/888413...hf-markets-ltd Steve
Quoting stevebenik
CADJPY, M30 . MACD bearish divergence: http://www.mql5.com/en/charts/888505...hf-markets-ltd Down symmetrical triangle on Monthly TF: http://www.mql5.com/en/charts/888530...hf-markets-ltd Steve
Quoting stevebenik
Gold, XAUUSD, D TF, descending wedge, BR Fib 61.8, bearish continuing movement: http://www.mql5.com/en/charts/888556...hf-markets-ltd Steve
I see you have quite a few pending orders in place here. For the sake of keeping it nice and clear for the new people here, it helps to explain the merit behind trade entries specially when they are not explicitly and directly in line with the basic material taught here. Maybe you can prove me wrong but I assume these aren't based on "PA bars"?

g.
I believe . . .
  • #128,073
  • Oct 15, 2013 5:05am Oct 15, 2013 5:05am
Quoting jibson007
Morning from here every one. Mike you always have something for the boys. Ghous I cant be anywhere in this game without you guess. Tic thanx for the PM, i love ti. I cant stop thanking you guys u are the Bomb. Now to my issue today. Took a trade on GBPAUD last wk thursay for a short. My thought process is stated in the chart attached. After the trigger it was in a choppy market but i still have a strong believe in the whole set up so i held it till Friday. @ Friday close it was still arnd my entry with a little loss so i decided to cover up tight...
hey Jibson,

That was a tricky trade you took. Its a breakout oright but you were actually heading into a dual swing low right away on the 4H as well as a bigger consolidation box on the daily.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 34 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 33 KB


The pull back point made up for a strongly confluenced one and eventually the bearish story took a stronghold but as the daily chart shows it may still not be a green flag for the bears just yet.

Attached Image (click to enlarge)
Click to Enlarge Name: 3.png Size: 43 KB


As for the second entry you took, again it was part of the same dodgy story but perhaps had a few more things going in favor as you had a gap plus price was trading at a pull back to that initial break out to the downside. Allso I don't think a PA bar triggered that trade which makes it even more trickier.

Personally, I like to avoid trades near the weekend, and when a trade does get stuck, like you did I just like to either tighten it up or if I am confident enough, just let it be. If I get taken out its the end of the trade for me, unless the next week can show me an independent story that supports the previous story that I took a loss on. Here it seems, on both occasions you played on only "part" of the factors running in your favor.

Just my thoughts

g.
I believe . . .
  • #128,074
  • Oct 15, 2013 7:17am Oct 15, 2013 7:17am
Good comments, Ghous!
Txs,

Steve
  • #128,075
  • Oct 15, 2013 8:50am Oct 15, 2013 8:50am
Quoting mbqb11
{quote} Hey Fonz Welcome to the thread glad you are finding it useful and just keep at it. That's how anyone makes it is just perseverance and a LOT of screen time. I actually sold on the close of the DBHLC that closed under the TL and BRN and BOX . Price broke the low barely and I went to breakeven and got stopped out friday. i was looking for a close of that gap and still think it's coming(see daily chart). Now though I'll be looking towards the BRN and the current box we are in for PA to go short as well. There was a great 1hr beob on the pullback...
here was the box completing out and price gave a pinbar at the box high and BRN, that's more ideal before that gap closes which is what the above was about
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 28 KB
  • #128,076
  • Oct 15, 2013 9:06am Oct 15, 2013 9:06am
advanced use of a BUOB where we want to see traditionally at swing lows

continuations are trickier because you are often trading into no mans land which seems enticing but if your location isn't prime you could be buying the new high where the sellers are sitting

I took this on the gap down open just above the 100 mark

notice the nice channel and strong buob. I'm at b/e

equities have been much more enticing to me the last month or so with the FX markets dead . I suspect the FX markets will resume shortly when the US shutdown and debt issues are solved
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 24 KB
  • #128,077
  • Oct 15, 2013 8:17pm Oct 15, 2013 8:17pm
Good box to watch for a breakout. Would be nice to get PA at top of the Box again too
Attached Image (click to enlarge)
Click to Enlarge Name: a.gif Size: 26 KB
  • #128,078
  • Oct 15, 2013 10:30pm Oct 15, 2013 10:30pm
watching for a break out
Attached Image (click to enlarge)
Click to Enlarge Name: xauusddaily002.png Size: 52 KB
  • #128,079
  • Oct 16, 2013 5:03am Oct 16, 2013 5:03am
Quoting albus999
watching for a break out {image}

Attached Image (click to enlarge)
Click to Enlarge Name: Gold Daily 15-10.jpg Size: 253 KB


to offer an independet heads-up


glad to be back !

best,
Jonas
Hero calls followed by margin calls...
  • #128,080
  • Oct 16, 2013 5:56am Oct 16, 2013 5:56am
Hello Guys. What do you think about silver pin bar?
PB, TL, fibs and double bottom.

Cherrs.
Darkst

Attached Image (click to enlarge)
Click to Enlarge Name: silverdaily.png Size: 54 KB
150 traders viewing now