james16 Chart Thread | Page 6955 | 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

  • #139,081
  • May 23, 2016 3:28am May 23, 2016 3:28am
Entry Sell Limit on AUD USD

This is my entry & my SL.
Attached Image (click to enlarge)
Click to Enlarge Name: schermata TL.png Size: 43 KB
  • #139,082
  • May 23, 2016 7:52am May 23, 2016 7:52am
Hi All

I'm a virgin poster here, so first of all, Thank You to all.

I have taken the daunting task of reading the entire thread, which hopefully I will have done before my retirement!!!! I'm currently on page 18, and find myself sneaking reads in the strangest of places.

Reading and learning with great interest........Question:

I haven't looked further down the thread and have tried searching for this info, but cannot find too much on it.....Keltner Channels, I see Jim used them in the early days, but are they still used and if so, the values Jim used are 8, 1.3, 1.3 but my Keltner Channel indi is as below, with more required inputs.

Could anyone please shed some light????

Thanks guys, this is what you call a real thread.....must go and get on with reading!!

Julian
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 145 KB
  • #139,083
  • May 23, 2016 4:44pm May 23, 2016 4:44pm
Sorry, the screenshot didn't capture the Keltner Channels input box previously.

Cheers All

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 189 KB
  • #139,084
  • May 24, 2016 7:24am May 24, 2016 7:24am
Hi jheprivate,

I'm short on EURUSD...
Attached Image (click to enlarge)
Click to Enlarge Name: Schermata 2016-05-24 alle 14.22.15.png Size: 38 KB
  • #139,085
  • May 24, 2016 9:25am May 24, 2016 9:25am
Quoting jheprivate
Sorry, the screenshot didn't capture the Keltner Channels input box previously. Cheers All {image}
Hey JHE

Don't worry about the keltner bands. You can use them or bollinger bands if you are looking for additional confluence. What you will see us mostly use is just simple side to side support and resistance, some simple PA bars, trendlines, some people use a few MAs(I don't myself). But more or less the more clean your chart is the better you will get at reading historical PA and what that might suggest for future moves

Welcome and enjoy

Mike
  • #139,086
  • May 24, 2016 10:45am May 24, 2016 10:45am
Mike is this BUOB preeemptive? Did you consider to take a long at the breakk of that bar? i was long, but i lost 0,6R
Attached Image (click to enlarge)
Click to Enlarge Name: euraud-h1-international-capital-markets-2.png Size: 34 KB
  • #139,087
  • May 24, 2016 11:04am May 24, 2016 11:04am
Quoting florinellz
Mike is this BUOB preeemptive? Did you consider to take a long at the breakk of that bar? i was long, but i lost 0,6R {image}
Hey Flor

We have heavy divergence here so I actually was more into a false breakout of an area like that. I took the 8hr pinbar short

Here was my chart in the private forum
Attached Image (click to enlarge)
Click to Enlarge Name: 5-24-2016 9-32-41 AM.jpg Size: 240 KB


current

Attached Image (click to enlarge)
Click to Enlarge Name: 5-24-2016 12-03-15 PM.jpg Size: 249 KB

Best
Mike
  • #139,088
  • May 24, 2016 11:20am May 24, 2016 11:20am
Quoting mbqb11
{quote} Hey Flor We have heavy divergence here so I actually was more into a false breakout of an area like that. I took the 8hr pinbar short Here was my chart in the private forum {image} current {image} Best Mike
Mike one more question if you don't mind; in the situations like EUR/AUD, when the price is at the resistance and we have a divergence is better to trade false break-out or depends from situation from situation? sorry for myy english...
  • #139,089
  • May 24, 2016 11:41am May 24, 2016 11:41am
Quoting florinellz
{quote} Mike one more question if you don't mind; in the situations like EUR/AUD, when the price is at the resistance and we have a divergence is better to trade false break-out or depends from situation from situation? sorry for myy english...
Your English is great F!

I prefer false breakouts. Since you have the staggered highs(the small purple dashes) it shows that buyers are weakening on new highs. So trying to buy a breakout long is harder to do in my book. If price had a FLAT top for a larger period of time then I am open to both situations

Best
Mike
  • #139,090
  • Edited 3:57pm May 24, 2016 3:37pm | Edited 3:57pm
Hi all. Hope the week is going well. Been a bit distracted with other (good) stuff, but here is a PB i took on oil. Profit locked in. Also BUOVB on H4 as confluence and price in general uptrend gave me confidence. GB

Attached Image (click to enlarge)
Click to Enlarge Name: oilusd-d1-fxdd.png Size: 25 KB


Yes Flo and Mike. Am watching EUR/AUD too. If price breaks down, i'll wait for a retrace back to trend line and look to jump in.

Attached Image (click to enlarge)
Click to Enlarge Name: euraud-d1-fxdd.png Size: 34 KB
'Fail to plan, plan to fail'
  • #139,091
  • May 24, 2016 7:36pm May 24, 2016 7:36pm
Quoting mbqb11
{quote} Hey Flor We have heavy divergence here so I actually was more into a false breakout of an area like that. I took the 8hr pinbar short Here was my chart in the private forum {image} current {image} Best Mike
In case anyone is curious, I closed this one down at the TL and will now watch for possible break out PA or pre-emptive breakout bars as I call them


Mike
Attached Image (click to enlarge)
Click to Enlarge Name: 5-24-2016 7-28-58 PM.jpg Size: 210 KB
  • #139,092
  • May 25, 2016 9:14am May 25, 2016 9:14am
Quoting mbqb11
{quote} In case anyone is curious, I closed this one down at the TL and will now watch for possible break out PA or pre-emptive breakout bars as I call them Mike {image}
Hi, Mike, do you cooperate with any Rebates Providers
Get 90% Rebates Back, No Mark UP--->Check PIPREBATES--.--com
  • #139,093
  • May 25, 2016 9:18am May 25, 2016 9:18am
Quoting Pip-Tony
{quote} Hi, Mike, do you cooperate with any Rebates Providers

hey Tony

We don't but if you are looking for someone who offers rebates I suggest reaching out to Justin @ forestparkFX. He is a great guy and works with most of the major brokers and an all around nice guy. We don't offer rebates though

Best
Mike
  • #139,094
  • May 25, 2016 11:51am May 25, 2016 11:51am
Quoting mbqb11
{quote} Hey JHE Don't worry about the keltner bands. You can use them or bollinger bands if you are looking for additional confluence. What you will see us mostly use is just simple side to side support and resistance, some simple PA bars, trendlines, some people use a few MAs(I don't myself). But more or less the more clean your chart is the better you will get at reading historical PA and what that might suggest for future moves Welcome and enjoy Mike
Simplicity is Key. Indeed. Thought I thought I knew this long time ago, the more time passess the more I believe I knew less and less about keeping it simple.

thanks
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
  • #139,095
  • May 25, 2016 1:10pm May 25, 2016 1:10pm
Quoting dustbin
{quote} Simplicity is Key. Indeed. Thought I thought I knew this long time ago, the more time passess the more I believe I knew less and less about keeping it simple. thanks
You are right dustbin

There is NO secret sauce in trading. No shortcuts. No easy money. The best advice I can give is just to be critical of yourself and your losses. Learn the little nuances. Practice smart trade mgmt by cutting your losses. And look to the obvious simple areas for trades.

I often think it's just the mental side that keeps people really struggling. It's not like it's that hard to draw a few S/R lines or spot PA. But to do it consistently is the hard part. To resist the urge when things aren't great. To have the ability to know when to get out.

Of course their are basics that we have to learn and by no means once you learn them is it smooth sailing. It's just being as consistent as possible. But at the end of the day it's just basic logic for most situations. Enter near the most critical area of your confluence or chart pattern. Cut your loss close to this area too. Mark logical areas price is likely to go. Don't look for every trade to be a homerun. Focus on your drawdown. Those are some of the things that I try to do every day.

Mike
  • #139,096
  • May 25, 2016 1:17pm May 25, 2016 1:17pm
Quoting mbqb11
{quote} You are right dustbin There is NO secret sauce in trading. No shortcuts. No easy money. The best advice I can give is just to be critical of yourself and your losses. Learn the little nuances. Practice smart trade mgmt by cutting your losses. And look to the obvious simple areas for trades. I often think it's just the mental side that keeps people really struggling. It's not like it's that hard to draw a few S/R lines or spot PA. But to do it consistently is the hard part. To resist the urge when things aren't great. To have the ability...
Indeed, simplicity is the key, i draw my S/R ,track the best PA and use Strict money management
  • #139,097
  • May 25, 2016 3:21pm May 25, 2016 3:21pm
simplicity is the key
NZD/CHF simetric triangle waiting to break

Attached Image (click to enlarge)
Click to Enlarge Name: nzdchf-d1-fxpro-financial-services.png Size: 29 KB
  • #139,098
  • May 25, 2016 3:51pm May 25, 2016 3:51pm
Quoting florinellz
simplicity is the key NZD/CHF simetric triangle waiting to break {image}
i m not a fan of shapes trading
  • #139,099
  • May 26, 2016 1:40am May 26, 2016 1:40am
Quoting mbqb11
{quote} hey Tony We don't but if you are looking for someone who offers rebates I suggest reaching out to Justin @ forestparkFX. He is a great guy and works with most of the major brokers and an all around nice guy. We don't offer rebates though Best Mike
erh...I am doing the same business
Get 90% Rebates Back, No Mark UP--->Check PIPREBATES--.--com
  • #139,100
  • Edited 9:14am May 26, 2016 8:59am | Edited 9:14am
EUR/USD D1. 2 day BEOVB. Order triggered on retrace.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-d1-fxdd.png Size: 31 KB


GBP/USD H4 BEOVB. Longish lower wick but i'm banking on sellers being in this area to take it down.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h4-fxdd.png Size: 29 KB


EUR/AUD H4 12hr BEOVB. closed below BRN and TL. Small risk of 19 pip SL.

Attached Image (click to enlarge)
Click to Enlarge Name: euraud-h4-fxdd.png Size: 31 KB
'Fail to plan, plan to fail'
53 traders viewing now