james16 Chart Thread | Page 6475 | 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

  • #129,481
  • Jan 8, 2014 5:42pm Jan 8, 2014 5:42pm
Quoting patapouer
{quote} Hi Paul, Just my opinion, but this PB, though supported by a MACD divergence, is in a lot of traffic, faces an up TL, and (most important point to me), failed to close below 86.4 which is a month high (white candle). Nogo for me - yet it may tun out to be very profitable take care {image}
i was watching this pair but with the steady uptrend and smaller bar in traffic it's a tricky one to play. Not wrong though depending on how one likes to manage their trades. I would of preferred a big old beob closing near the TL


Thanks for helping P , your chart is great

Mike
Attached Image (click to enlarge)
Click to Enlarge Name: d.jpg Size: 177 KB
  • #129,482
  • Jan 8, 2014 6:26pm Jan 8, 2014 6:26pm
Quoting fxpaulm
Patapouer, It does face traffic, but that traffic is at least 100 pips away. That TL is troubling, but why does the high from 9 months ago factor in? I mean, last month broke that high and I'm wondering what relevance the April high has to current PA. If this is basic information, please forgive me as I'm still somewhat new to the board. Thanks
Well it's me against you I guess I've entered long today, based on the engulf bar that closed above the 86.00 level.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpydaily.png Size: 27 KB


Unlike Mike, though, I see the trendlines in a bit different way.
But that's the beauty of forex, isn't it. We both can be right and you can ride it down to 86.00 and then pass it on my longs.
Or I might be wrong.
Or you might be wrong...

However, my trade is not a clear J16 trade, but according to the J16 principles, you MUST move your stop to BE when price reaches 86.00 level... at least that's how I see it. Anyways, If I was not in that long trade I would most definately not take that pin as a proper signal.

Cheers.
Twitter @raitchev
  • #129,483
  • Jan 8, 2014 7:13pm Jan 8, 2014 7:13pm
Ah the beauty of trading. The Bullish Outside Bar does cause hesitation, but then subsequent price action does not appear to support the move. Price has already slightly doubled its range and it appears to be getting tired. Price tried to rally and run to 87.00, but as of now it seems to have found plenty of supply up there. No matter what, price will tell us soon which way it wants to go. Good luck!

P.S. One question, being new and not having read the thousands of posts on this forum why is that pin not a proper signal? Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: NJ.jpg Size: 105 KB
  • #129,484
  • Jan 8, 2014 9:32pm Jan 8, 2014 9:32pm
Quoting fxpaulm
Ah the beauty of trading. The Bullish Outside Bar does cause hesitation, but then subsequent price action does not appear to support the move. Price has already slightly doubled its range and it appears to be getting tired. Price tried to rally and run to 87.00, but as of now it seems to have found plenty of supply up there. No matter what, price will tell us soon which way it wants to go. Good luck! P.S. One question, being new and not having read the thousands of posts on this forum why is that pin not a proper signal? Thanks {image}
The pin bar is small. By this I mean, the wick doesn't protrude long enough to display a bigger range of latched on orders. Combining that with a fairly strong dragging up trend it becomes a real tricky shot for a short trade. At best, you need to be watching out for your plethora of trouble areas really well - a big disadvantage when you're headed back into a messy landscape. This makes trade management more tricky than when you simply execute a big bold pin bar headed into more space.


Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpydaily.png Size: 64 KB


g.
I believe . . .
  • #129,485
  • Jan 9, 2014 12:29pm Jan 9, 2014 12:29pm
Quoting fxpaulm
Ah the beauty of trading. The Bullish Outside Bar does cause hesitation, but then subsequent price action does not appear to support the move. Price has already slightly doubled its range and it appears to be getting tired. Price tried to rally and run to 87.00, but as of now it seems to have found plenty of supply up there. No matter what, price will tell us soon which way it wants to go. Good luck! P.S. One question, being new and not having read the thousands of posts on this forum why is that pin not a proper signal? Thanks {image}
Not to jump in here uninvited, but the longer you trade the more you will realize part of the path to profitable trading is knowing which trades to avoid. While you can be right or profit from subpar set-ups in the short term - over time if you review your past trades you will find out they cost you.

I manage accounts for clients and not taking trades often is a great decision.

Just my 2 cents....

Nathan
  • #129,486
  • Jan 9, 2014 12:36pm Jan 9, 2014 12:36pm
Quoting dobe_r_man
{quote} Not to jump in here uninvited, but the longer you trade the more you will realize part of the path to profitable trading is knowing which trades to avoid. While you can be right or profit from subpar set-ups in the short term - over time if you review your past trades you will find out they cost you. I manage accounts for clients and not taking trades often is a great decision. Just my 2 cents.... Nathan
Its been a while,

Whats up buddy? How's the family of dobes doing

g.
I believe . . .
  • #129,487
  • Jan 9, 2014 12:41pm Jan 9, 2014 12:41pm
Hey Ghous, how are you? Doing well - the dobes never cease to entertain me. For dogs with such a (unwarranted) reputation it is funny to watch their cowardness when going out in the deep snow and below zero temps.

Hope all is well!

Nathan
  • #129,488
  • Jan 9, 2014 12:43pm Jan 9, 2014 12:43pm
Nathan,

I agree with you and I guess my only issue is I do not see this as a sub-par trade, that is my weakness no doubt.

I see price has doubled, the BUOB did not generate the follow through that I would expect from such a strong move, it got rejected at a big round number and it looks like it is running out of steam which is visible if we put a channel on it. Notice that price is no longer reaching the upper TL and is in fact, moving further away from it. Now will this be a big change and turn into a big runner for me, probably not, but risk was minimal and is already at b/e.

anyways, no worries about being invited, I love to learn and hear how other traders view the charts because it helps me and may provide a nugget or two for me to further my skills.
Attached Image (click to enlarge)
Click to Enlarge Name: nj.jpg Size: 107 KB
  • #129,489
  • Jan 9, 2014 12:59pm Jan 9, 2014 12:59pm
Quoting fxpaulm
Nathan, I agree with you and I guess my only issue is I do not see this as a sub-par trade, that is my weakness no doubt. I see price has doubled, the BUOB did not generate the follow through that I would expect from such a strong move, it got rejected at a big round number and it looks like it is running out of steam which is visible if we put a channel on it. Notice that price is no longer reaching the upper TL and is in fact, moving further away from it. Now will this be a big change and turn into a big runner for me, probably not, but risk was...
No worries, good trade management is the key anyway. It all comes down to everyone's trading style and viewpoint.....a better response from me would have been to say "subpar" for how I trade. There are several factors that make it subpar for me, but that doesn't make it wrong for you.

Again it comes down style of trading, as on chart like this I would first want a break of the ascending trendline and then probably look for reversal price action upon any retracement back up. I typically look for set-ups where there is potential for bigger moves vs. scalping for 40-50 pips. I guess this just isn't a trade that would jump out at me, so why bother when there are so many opportunities.

Nathan
  • #129,490
  • Jan 9, 2014 1:17pm Jan 9, 2014 1:17pm
Quoting dobe_r_man
{quote} Not to jump in here uninvited, but the longer you trade the more you will realize part of the path to profitable trading is knowing which trades to avoid. While you can be right or profit from subpar set-ups in the short term - over time if you review your past trades you will find out they cost you. I manage accounts for clients and not taking trades often is a great decision. Just my 2 cents.... Nathan
amen million times over

If you are new and struggling, never forget the above statement. THe markets are calm/choppy right now as we get out of the holiday. THese markets hurt a LOT of people

Mike
  • #129,491
  • Jan 9, 2014 1:24pm Jan 9, 2014 1:24pm
Figured I'd crawl out of my cave and see what the ol' j16 forum was up to. Glad to see it still going and most of the usual suspects are here. Here's one I caught this week, if I may.


Attached Image (click to enlarge)
Click to Enlarge Name: eurcadh4.png Size: 67 KB
  • #129,492
  • Jan 9, 2014 9:34pm Jan 9, 2014 9:34pm
Interesting pin on crude..
Attached Image (click to enlarge)
Click to Enlarge Name: #clg4daily.png Size: 28 KB
  • #129,493
  • Jan 10, 2014 7:52am Jan 10, 2014 7:52am
Really interested in seeing this close as a daily fake out. Great confluence on this one.

Attached Image (click to enlarge)
Click to Enlarge Name: audcad.png Size: 40 KB


g.
I believe . . .
  • #129,494
  • Jan 10, 2014 7:55am Jan 10, 2014 7:55am
Quoting kosmiczny
Interesting pin on crude.. {image}
wicked!

Great find Kosmiczny

Did you take it?

g.
I believe . . .
  • #129,495
  • Jan 10, 2014 10:18am Jan 10, 2014 10:18am
Quoting raitchev
{quote} Well it's me against you I guess I've entered long today, based on the engulf bar that closed above the 86.00 level. {image} Unlike Mike, though, I see the trendlines in a bit different way. But that's the beauty of forex, isn't it. We both can be right and you can ride it down to 86.00 and then pass it on my longs. Or I might be wrong. Or you might be wrong... However, my trade is not a clear J16 trade, but according to the J16 principles, you MUST move your stop to BE when price reaches 86.00 level... at least that's how I see it. Anyways,...
Surprise, surprise, price bounced back from the 86.00 level (and the trendline). Did it do something unexpected? Certainly not. Is PA majical? Nope. Quite simple.


Wish a relaxing weekend to everybody!
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpydaily.png Size: 24 KB
Twitter @raitchev
  • #129,496
  • Jan 10, 2014 10:21am Jan 10, 2014 10:21am
Quoting raitchev
Now here are a couple of trades of mine that I took overnight. First is AUCAD with a really nice strong close above the trendline and the .96 BRN {image} Then there's that same wave but in the USDCAD. This one was much risky so stop is moved to BE already. {image} All charts are Daily. Both trades were with no great R:R, but ... heck, who cares. It's some easy money.
both TP's hit for about 3.5% gain in total
Twitter @raitchev
  • #129,497
  • Jan 10, 2014 11:04am Jan 10, 2014 11:04am
AUDNZD this week.
Attached Image (click to enlarge)
Click to Enlarge Name: 76.png Size: 45 KB


Decision made on H8 chart.
Lose small, win BIG
  • #129,498
  • Jan 10, 2014 11:44am Jan 10, 2014 11:44am
Quoting dobe_r_man
Hey Ghous, how are you? Doing well - the dobes never cease to entertain me. For dogs with such a (unwarranted) reputation it is funny to watch their cowardness when going out in the deep snow and below zero temps. Hope all is well! Nathan
hey doberman,
nice to see you posting again and doing well...
rock on
meine augen sind die sterne
  • #129,499
  • Jan 10, 2014 12:10pm Jan 10, 2014 12:10pm
Thanks Aserbfx, hope all is well with you!


N
  • #129,500
  • Jan 10, 2014 12:24pm Jan 10, 2014 12:24pm
Quoting dobe_r_man
Thanks Aserbfx, hope all is well with you! N

yes, thank you, my friend.
meine augen sind die sterne
30 traders viewing now