james16 Chart Thread | Page 6559 | 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

  • #131,161
  • Jun 6, 2014 11:09am Jun 6, 2014 11:09am
Quoting alphac
{quote} Firstly, do you want to hang on to this trade over the weekend? If you're not confident anymore close it and wait for a chance to enter again, if there's not PA on a retrace take a break of the OB. Find some material on trade management, a lot of people have a great understanding of what to do when their trade moves in the right direction, it's what to do when it moves against you is what will make a better difference to your profit/loss column. I didn't take any of these OB setups yesterday, if I had it'd be closed now, but that's the way...
Thanks for your comment, alphac.
Regards.
  • #131,162
  • Jun 6, 2014 3:47pm Jun 6, 2014 3:47pm
Quoting aserbfx
the stock market (here ym) closed at an all-time-high. in the last 30min of trading, price made a new high. a rise like this in the last trading hours on a friday is highly unlikely. usually volume on the last day of a week in the stock market starts to dry up at about 5pm gmt. it can truely be an indication for a further rise. i am very surprised to see this. {image}
done
+240 points in this week.
Attached Image (click to enlarge)
Click to Enlarge Name: #ymm4daily.png Size: 46 KB
meine augen sind die sterne
  • #131,163
  • Jun 6, 2014 5:12pm Jun 6, 2014 5:12pm
Attached Image (click to enlarge)
Click to Enlarge Name: 6-7-2014 3-41-19 AM_NZDCAD.png Size: 30 KB
  • #131,164
  • Jun 6, 2014 8:34pm Jun 6, 2014 8:34pm
Quoting vanilla.sky
{quote} Hi Donkey and other members, Can you please let me know your opinion how you deal with current situation ? I went to H4 and found that price wants to close above PPZ line. If closes above I would tighten stop few pips above high of this bar. Is this logical way of managing the trade? Please let me know your comments. Cheers. {image}
Using bar highs/lows is certainly a valid way to reduce risk, and one that I use some. That said, I play a little looser with my stops and usually give more than a couple of pips above the bar high if I plan to stay in. When I backtested with forex tester trailing stops I found that price often took out my stop and ran to my targets without me, which leads me to make quick exits (via tp or manually closing loser if price not behaving as expected) or playing a little looser with my stops. I put a couple of notes on the 4H chart and hope it helps.

I would ask, did you enter on 4H or daily? I used to drop down to 4H from daily entries for management but found that complicates things too much for me. If I enter on daily, I manage on daily. To be honest I very rarely look at anything but daily charts anymore....just fits me better at this point in my trading.

Attached Image (click to enlarge)
Click to Enlarge Name: a.png Size: 126 KB
  • #131,165
  • Jun 6, 2014 8:46pm Jun 6, 2014 8:46pm
Quoting Donkey
{quote} I'm in with a market order at the close...my targets are the gray boxes. My stop will be moved quickly to where yours currently is set. {image}
Price did retrace, which isn't a surprise, to the previous bar lows. It managed to close below the top of the zone I was really watching and the BRN of 0.900 which gives me confidence to hold over weekend and see how it opens sunday evening. 20% of risk reduced, using top of small consolidation and the BRN to continue to hide my stop.

Attached Image (click to enlarge)
Click to Enlarge Name: usdchfdaily 060514b.png Size: 71 KB
  • #131,166
  • Jun 7, 2014 12:14pm Jun 7, 2014 12:14pm
Quoting Donkey
{quote} I would ask, did you enter on 4H or daily? I used to drop down to 4H from daily entries for management but found that complicates things too much for me. If I enter on daily, I manage on daily. To be honest I very rarely look at anything but daily charts anymore....just fits me better at this point in my trading. {image}
Hello Donkey,
I entered on Daily on close but I was reading many times that people go do lower timeframe to manage trade. But I really must find something more concrete about this... I can imagine if you are on H4 you can analyze PA on H4 for warnings, if you stay on D1, you can only watch price going up or down to specific levels... But I better read more about this
Cheers.
  • #131,167
  • Jun 7, 2014 2:23pm Jun 7, 2014 2:23pm
EURCAD Daily - The trendline isn't great, would be nice to get another touch of it and retrace before breaking out through the 1.50.

Attached Image (click to enlarge)
Click to Enlarge Name: ecad.png Size: 17 KB
  • #131,168
  • Jun 8, 2014 5:31am Jun 8, 2014 5:31am
For all you PA traders, Kiwi has been posting an interesting formation. Bearish Pinbar piercing through previous support&resistance level, a supply zone and testing the 38.2 Fib level as well.
However, this occurs after a very strong bullish candle. Still, could be used to get a general sense of direction for lower time frames if we don't break it.
Attached Image (click to enlarge)
Click to Enlarge Name: kiwi.png Size: 18 KB
Learn from yesterday, live for today and hope for tomorrow.
  • #131,169
  • Jun 8, 2014 9:12am Jun 8, 2014 9:12am
Attached Image (click to enlarge)
Click to Enlarge Name: 6-8-2014 7-41-23 PM_usdmxn.png Size: 26 KB
  • #131,170
  • Jun 8, 2014 11:30am Jun 8, 2014 11:30am
Anybody looking at the EURUSD weekly pinbar?
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 440 KB
  • #131,171
  • Jun 8, 2014 2:02pm Jun 8, 2014 2:02pm
some setups for the upcoming week.
eur/usd, aud/nzd and usd/chf. all on weekly.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdweekly.png Size: 32 KB
Click to Enlarge Name: audnzdweekly.png Size: 28 KB
Click to Enlarge Name: usdchfweekly.png Size: 30 KB
meine augen sind die sterne
  • #131,172
  • Jun 8, 2014 2:11pm Jun 8, 2014 2:11pm
Quoting dan89
Hey Mike, Whats your opinion on this 'pinbar' 1) If it closes below the BRN 2) closes above the BRN. Would this be a wick play ? Looking to re-enter short somehwhere. {image} Take care Dan
Hello Dan,
It looks we have triple high just below BRN. Some might see inside bar too. Are you considering to play this?
Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: Snap57.jpg Size: 77 KB
  • #131,173
  • Jun 8, 2014 4:16pm Jun 8, 2014 4:16pm
Hi all,
Please take a look on my candidate trades and let me know your opinion. Really appreciate your feedback!

#1. USDJPY we are bullish long term and we pull back after breakout from triangle consolidation. low of pin touched diagonal trendline and ppz, if you change ma20 to ema20 you will also have another though to the pip actually see no much against long entry with first tp few pips below top of prev candle.... which is not good I guess.
Attached Image (click to enlarge)
Click to Enlarge Name: Snap67.jpg Size: 171 KB

#2. NZDUSD we are also bullish long term and on 4th of June price bounced from 50% Fibo of last higher high with confluence of MA150 which is rather telling to go long. but then we had BUEB that closed just below BRN and really nice pinbar - very bearish. I marked with Magenta two horizontal lines where upper is PPZ and lower some weaker consolidation level exactly at low of pin which suggest that if I want to trade this, I should rather play it on break from low of pin or take retrace entry near BRN. Not as good as #1 but still want to play it
Attached Image (click to enlarge)
Click to Enlarge Name: Snap68.jpg Size: 168 KB


Thank you for your comments. I am concerned if I am putting these part together in way they provide some value, or picking right elements for confluence.
Cheers.
  • #131,174
  • Jun 8, 2014 4:18pm Jun 8, 2014 4:18pm
Quoting vanilla.sky
{quote} Hello Dan, It looks we have triple high just below BRN. Some might see inside bar too. Are you considering to play this? Cheers. {image}
Hey Sky,

Play it which way ... im looking for it to continue to the downside from the wedge pattern. I dont know much about a triple bar high ... is this a j16 bar ? Can you post a link to a post with details ?

Take care
Dan
  • #131,175
  • Jun 8, 2014 4:35pm Jun 8, 2014 4:35pm
Quoting dan89
{quote} Hey Sky, Play it which way ... im looking for it to continue to the downside from the wedge pattern. I dont know much about a triple bar high ... is this a j16 bar ? Can you post a link to a post with details ? Take care Dan
Hello Dan,
Below post shows the concept. In current situation we would search for breakout immediately, not like in example. This is double bar high but triple is simply for three candles with same high.
http://www.forexfactory.com/showthre...5941#post55941
Regards.
  • #131,176
  • Jun 8, 2014 6:26pm Jun 8, 2014 6:26pm
Quoting TraderRolf
For all you PA traders, Kiwi has been posting an interesting formation. Bearish Pinbar piercing through previous support&resistance level, a supply zone and testing the 38.2 Fib level as well. However, this occurs after a very strong bullish candle. Still, could be used to get a general sense of direction for lower time frames if we don't break it. {image}
I've been looking at N/U similarly.
Just opened a short.
Will move SL to BE if 0.8480 is hit.

Attached Image (click to enlarge)
Click to Enlarge Name: nzdusddaily entered.png Size: 31 KB
It's a sport, an artform and a science.
  • #131,177
  • Jun 8, 2014 6:30pm Jun 8, 2014 6:30pm
Quoting TraderRolf
For all you PA traders, Kiwi has been posting an interesting formation. Bearish Pinbar piercing through previous support&resistance level, a supply zone and testing the 38.2 Fib level as well. However, this occurs after a very strong bullish candle. Still, could be used to get a general sense of direction for lower time frames if we don't break it. {image}
Good points made in this post. I really enjoy trading this pair & I believe that this is a good short trade idea. Additionally, look at Jim's charts from back in the day and you will see that he used the 365 and 150 ema's for additional evidence of a turn. I have a shot of the H4 here to show a nice illustration of such confluence. A classic "sell the rally" set up.

K.I.S.S.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZD.jpg Size: 117 KB
Click to Enlarge Name: nzd2.jpg Size: 118 KB
  • #131,178
  • Jun 8, 2014 6:57pm Jun 8, 2014 6:57pm
Quoting KissFan
{quote} Good points made in this post. I really enjoy trading this pair & I believe that this is a good short trade idea. Additionally, look at Jim's charts from back in the day and you will see that he used the 365 and 150 ema's for additional evidence of a turn. I have a shot of the H4 here to show a nice illustration of such confluence. A classic "sell the rally" set up. K.I.S.S. {image} {image}
Resistance looking weak IMHO.
Price being rejected by higher supply but looks like resistance isn't being rejected anymore. Candles closing right @ former resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: nzd5.jpg Size: 143 KB
  • #131,179
  • Jun 9, 2014 1:40am Jun 9, 2014 1:40am
Pinbar at support

Looking to long should price retrace towards 1.3620 area.

TP at 1.3950

Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 25 KB
Whether you can or you can't, you are both right.
  • #131,180
  • Jun 9, 2014 3:07am Jun 9, 2014 3:07am
Quoting fartist
Pinbar at support Looking to long should price retrace towards 1.3620 area. TP at 1.3950 {image}
I know you..

I am looking to long at around 1.3615-20 and TP at 1.3760 area. Since its a weekly bar, it will probably spend the earlier part of the week retracing.

Are you looking to long USDCHF separately?
44 traders viewing now