Attachments: james16 Chart Thread

james16 Chart Thread

#128,821
Nov 19, 2013 11:49pm Nov 19, 2013 11:49pm

bee24
| Joined Mar 2008 | Status: Donkeys are rabbits. | 141 Posts

Does anyone know if it is possible to get gas and electricity charts/feeds?

#128,822
Nov 19, 2013 11:52pm Nov 19, 2013 11:52pm

ruben17
Joined Dec 2010 | Status: Trader | 35 Posts

yes, i need that too

#128,823
Nov 20, 2013 5:27am Nov 20, 2013 5:27am

dan89
| Joined May 2010 | Status: Trader | 1,100 Posts

Quoting Winston Reed

Disliked

{quote} Still a few hours to go this looks like a DBLHC on daily. Only about 3 pips difference. {image}

Ignored

Price is really struggling to move anyway, I like my breakouts to take off !

Have a strong feeling price is likely to drop down back into the pattern

Attached Image (click to enlarge)

Click to Enlarge

Name: 20-11-2013 13-25-27.png
Size: 14 KB

Take care
Dan

#128,824
Nov 20, 2013 5:47am Nov 20, 2013 5:47am

Winston Reed
Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts

Took the H4 BEOB during Asian. Working out so far.

Attached Image (click to enlarge)

Click to Enlarge

Name: nzdusdh4112013j16.png
Size: 77 KB

#128,825
Nov 20, 2013 5:51am Nov 20, 2013 5:51am

michal7
| Joined Nov 2008 | Status: Trader | 171 Posts

Quoting Winston Reed

Disliked

Took the H4 BEOB during Asian. Working out so far. {image}

Ignored

Nice one! What's the target? 0.8220-0.8190 area?

#128,826
Nov 20, 2013 5:56am Nov 20, 2013 5:56am

ghous
Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts

Quoting Neytiri

Disliked

{image}{image}

Ignored

Very strong down trend and compared to that an insignificant swing low.

Also THERE IS NO MACD DIVERGENCE. In situations like these (taking counter trend trades against a decently established trend) adequate and extremely obvious divergence is a very important factor to consider.

We've pulled right back to the LLS price, and this would really be the make or break time if I were in this trade. Already the bar touching the LLS on the pullback closed strongly bearish and if the LLS decides to give way here then this could be a major sign that the down trend wants to continue.

Attached Image (click to enlarge)

Click to Enlarge

Name: cornh4.png
Size: 47 KB

Attached Image (click to enlarge)

Click to Enlarge

Name: corn daily.jpg
Size: 149 KB

I believe . . .

#128,827
Nov 20, 2013 6:12am Nov 20, 2013 6:12am

Winston Reed
Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts

Quoting michal7

Disliked

{quote} Nice one! What's the target? 0.8220-0.8190 area?

Ignored

Just closed. Pretty good resistance and this could keep ranging. Better to take profit now than lose it all.

#128,828
Nov 20, 2013 6:36am Nov 20, 2013 6:36am

mbqb11
| Commercial User | Joined Aug 2006 | 12,004 Posts

Quoting Neytiri

Disliked

{image}{image}

Ignored

Hey Ney

careful with this, remember we want buobs at swing lows. Notice the lowest point of the BUOB is not a swing low so that can be tricky. Also notice you are buying right into the last swing low. This is tricky. You really want to trade away from these potential flip areas(like when price can close above that area)

Hope that helps
Mike

Attached Image (click to enlarge)

Click to Enlarge

Name: a.gif
Size: 29 KB

#128,829
Nov 20, 2013 8:55am Nov 20, 2013 8:55am

zohaib
| Joined Nov 2012 | Status: Trader | 144 Posts

Ghous Eur/jpy making BEOB and also a fake out according to me but there is still time to daily close and also FOMC so it can reverse but if it close as it is will you trade it? It has already reached FTA.

Attached Image (click to enlarge)

Click to Enlarge

Name: eurjpydaily.png
Size: 61 KB

#128,830
Nov 20, 2013 10:05am Nov 20, 2013 10:05am

SeekingLight
Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts

Quoting michal7

Disliked

I've also revisited james16 material. Then I backtested 24 pairs almost 4 years back(since january 2010), with simple trading rules

23% of trades were BE (or around BE), 29% of trades were losers and 48% of trades were winners
This exercise gave me a lot
I would suggest to everyone who is new or not profitable yet to do this excercise, it will help you tremendously.

Ignored

Hey Michal, I'm glad you did the work. A lot of people skip proper research and learning things over time. Many think you can hop in and be the next big thing. That's simply not how it works, just like you can't pick up an instrument and be a master right off the bat.
Good job.

Trust price. Know yourself.

#128,831
Nov 20, 2013 10:15am Nov 20, 2013 10:15am

SeekingLight
Joined Jul 2006 | Status: Charts + PA > * | 3,251 Posts

EURUSD
My webinar peepz and I have been stalking this one for a while now.
I have basically been expecting a retracement ever since ending the old short trade from the ECB news day, and the last 24 hours we came into a second major watchzone and did the expected turn.

The basic approach was:
Assess the situation, have a reason for your trade, make a plan(how when where why to take what), then execute it.

-

This EURUSD trade was part of the ongoing pair discussion we do in both the intraweek webinar as well as my weekly recap and outlook for the coming week, my so-called FXNotes.

The labels are very Elliott Wave(still an ongoing hobby project of mine), but that is just for marking out a general idea for the grid / swingpoints / watchzone territories. You could have expected that turn even without an inch of EW knowledge.

This was a PA trade, or rather a direct s/r trade with a sell of the retest as marked in the last 2 charts from the last 24 hours(around -40 points stop, target is a retest of the lows at around +240 for 6R in the ideal scenario).

You can flip through the two screenshots like a flipbook and see how they got filled out by price. With enough watching of charts and price behavior price itself becomes more understandable and plans like this(enter retracement short after turnaround) become doable.

Attached Image(s) (click to enlarge)

Click to Enlarge

Name: eurusd_131108_1h_chart_abc.png
Size: 29 KB

Click to Enlarge

Name: eurusd_131112_1h_chart_abc_update_01.png
Size: 36 KB

Click to Enlarge

Name: eurusd_131120_1h_watching.png
Size: 40 KB

Click to Enlarge

Name: eurusd_131120_1h_watching_update_01.png
Size: 41 KB

Trust price. Know yourself.

#128,832
Nov 20, 2013 1:28pm Nov 20, 2013 1:28pm

michal7
| Joined Nov 2008 | Status: Trader | 171 Posts

We got nice BEOBs on EURUSD and EURJPY. (Pretty much same setup on USDCHF and CHFJPY).
Now I'm not sure which one is better.

EURJPY is new high with divergence, but trend is up.

EURUSD has no divergence but it seems trend has turned alread and it's retest of broken BRN 1.35.

Thinking of entering both trade with half position size...

Now if I new wheter USDJPY will go up or fall down from 100.00...

Attached Image(s) (click to enlarge)

Click to Enlarge

Name: eurusd.png
Size: 73 KB

Click to Enlarge

Name: eurjpy.png
Size: 84 KB

#128,833
Nov 20, 2013 1:31pm Nov 20, 2013 1:31pm

michal7
| Joined Nov 2008 | Status: Trader | 171 Posts

Quoting SeekingLight

Disliked

{quote} Hey Michal, I'm glad you did the work. A lot of people skip proper research and learning things over time. Many think you can hop in and be the next big thing. That's simply not how it works, just like you can't pick up an instrument and be a master right off the bat. Good job.

Ignored

Thanks Patrick. I came to realize it was necessary to go serious backtesting to get confidence, test that pure price action works and to find what exactly works for me(when to enter, where to put stop, where to take profit).

#128,834
Nov 20, 2013 1:36pm Nov 20, 2013 1:36pm

Swede
Joined Mar 2009 | Status: Trader | 2,571 Posts

I normally like to trade the larger time frames but this seemed too juicy to resist....how often do you senior traders drop down to the 1 hour chart for your entries? (I mean there was more to the trade than the hourly such as the daily trendline, rejection of the BRN, etc.)

Attached Image(s) (click to enlarge)

Click to Enlarge

Name: eurcadh1.png
Size: 44 KB

Click to Enlarge

Name: eurcaddaily.png
Size: 44 KB

#128,835
Nov 20, 2013 1:43pm Nov 20, 2013 1:43pm

Albatross29
| Joined Nov 2013 | Status: Trader | 28 Posts

Quoting michal7

Disliked

We got nice BEOBs on EURUSD and EURJPY. (Pretty much same setup on USDCHF and CHFJPY). Now I'm not sure which one is better. EURJPY is new high with divergence, but trend is up. EURUSD has no divergence but it seems trend has turned alread and it's retest of broken BRN 1.35. Thinking of entering both trade with half position size... Now if I new wheter USDJPY will go up or fall down from 100.00... {image} {image}

Ignored

Michal have you looked at any fib levels on the longer TF like weekly? I saw this candle as well on the EUDUSD. Had been trying to wait for a confirmation break below 1.3400 as I have a fib level there and a pivot point being tested just above it. This same candle also came close to testing the bottom of a long running monthly resistance zone that starts at 1.3600 and runs up to 1.4100.

For no I was just standing to the side waiting for a break through the 1.3400 with a short entry. My target for taking profit was going to be around the 11/08 low at 1.3317. At that point I was going to move to BE and let the rest of the position run.

Let me know what you guys think. Not sure If my thinking is in line or if I am way out in left field.

I've attached my chart. Thanks.

Attached Image (click to enlarge)

Click to Enlarge

Name: EURUSD Daily.JPG
Size: 149 KB

#128,836
Nov 20, 2013 1:54pm Nov 20, 2013 1:54pm

michal7
| Joined Nov 2008 | Status: Trader | 171 Posts

Quoting Albatross29

Disliked

{quote} Michal have you looked at any fib levels on the longer TF like weekly? I saw this candle as well on the EUDUSD. Had been trying to wait for a confirmation break below 1.3400 as I have a fib level there and a pivot point being tested just above it. This same candle also came close to testing the bottom of a long running monthly resistance zone that starts at 1.3600 and runs up to 1.4100. For no I was just standing to the side waiting for a break through the 1.3400 with a short entry. My target for taking profit was going to be around the...

Ignored

I see 50% fib retracement on daily (last swing low) and 50% fib on weekly (long term). Haven't looked at those before. During my backtest I was not actually looking at fibs nor divergence.(I looked at divergence now just for curiosity). What's important for me is LOCATION and CANDLESTICK itself.

Attached Image(s) (click to enlarge)