james16 Chart Thread | Page 6973 | 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

  • #139,441
  • Aug 2, 2016 3:41pm Aug 2, 2016 3:41pm
Daily USDJPY still active
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 44 KB
  • #139,442
  • Aug 2, 2016 5:26pm Aug 2, 2016 5:26pm
Today was a great trading day. Been tough markets so if you can weather that storm then the pay off comes when those good days come

Here were some of my trades and I'll also post some charts i'm looking at going forward now

I was heavily bearish on the indices

I shorted the nasdaq with what I call a pinbar breakaway. When you see a pinbar followed by a strong bearish bar, with good confluence shorting back at the pinbar high/low makes for a great play


Attached Image (click to enlarge)
Click to Enlarge Name: 8-1-2016 4-07-57 PM.jpg Size: 175 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 8-2-2016 10-55-58 AM.jpg Size: 137 KB
  • #139,443
  • Aug 2, 2016 5:33pm Aug 2, 2016 5:33pm
Here is an example of a false breakout I trade on the usd/zar. I had a couple small losses looking for the gap to close last week but this one worked fairly well. Next post will be another place I would be looking for a false breakout

Attached Image (click to enlarge)
Click to Enlarge Name: 8-1-2016 6-00-40 AM.jpg Size: 133 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 8-1-2016 9-37-45 AM.jpg Size: 167 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 8-2-2016 12-03-13 PM.jpg Size: 119 KB
  • #139,444
  • Aug 2, 2016 5:35pm Aug 2, 2016 5:35pm
here is an area I prefer to look for FALSE breakouts only. Yes there is a big daily buob and that might win out but for me it's always about going into a trade that you feel comfortable with. That has everything to do with location for me
Attached Image (click to enlarge)
Click to Enlarge Name: 8-2-2016 6-28-23 PM.jpg Size: 150 KB
  • #139,445
  • Aug 3, 2016 1:52am Aug 3, 2016 1:52am
Hi guys, the NZDUSD is near a weekly resistance. I will short after the break of the tl on the H1 chart.
What do you think about this setup?
P.S.: as always sorry for my english
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily.PNG Size: 78 KB
Click to Enlarge Name: Cattura.PNG Size: 75 KB
  • #139,446
  • Aug 3, 2016 1:06pm Aug 3, 2016 1:06pm
Hi everyone. What's up?
Please comment on the deal with your point of view =)
Thx for response.
EURGBP H4 BEOB break TL.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH4.png Size: 30 KB
  • #139,447
  • Aug 3, 2016 1:17pm Aug 3, 2016 1:17pm
Free3e, I've also taken this..twice, I tried with a really short stop and failed, but got in again. There was a daily BEOB off of a ppz which cut through another ppz (pic 1), then a retrace with a 4hr BEOB off of the bottom ppz (pic 2).

Daily BEOB

Attached Image


4hr BEOB

Attached Image (click to enlarge)
Click to Enlarge Name: eg4hr.png Size: 37 KB
  • #139,448
  • Aug 3, 2016 1:21pm Aug 3, 2016 1:21pm
Quoting alphac
Free3e, I've also taken this..twice, I tried with a really short stop and failed, but got in again. There was a daily BEOB off of a ppz which cut through another ppz (pic 1), then a retrace with a 4hr BEOB off of the bottom ppz (pic 2). Daily BEOB {image} 4hr BEOB {image}
Thx for answer. Where is your target?
  • #139,449
  • Aug 3, 2016 1:28pm Aug 3, 2016 1:28pm
Quoting Free3e
{quote} Thx for answer. Where is your target?
Personally I want to be out before these lows, I've already closed some and moved my stop down so it's now profit whatever.

Attached Image (click to enlarge)
Click to Enlarge Name: free.png Size: 25 KB
  • #139,450
  • Aug 5, 2016 3:07am Aug 5, 2016 3:07am
Quoting alphac
{quote} An oustide bar whether a BEOB or BUOB should totally engulf the previous candle, the high and the low. Some people call them engulfing candles, don't let that confuse you, for the sake of definition don't worry about the location etc either, the term outside bar just refers to the bar. I've arrowed some on your picture, also look at priceaction9's picture - post #139424.
Thanks for taking the time A, it makes much more sense now. As with a lot of things in life it seems the detail is important! Could you recommend a book / website for the patterns? I've found a few through google but it's difficult to know which describe things correctly.
  • #139,451
  • Aug 5, 2016 3:43am Aug 5, 2016 3:43am
Quoting alphac
{quote} Personally I want to be out before these lows, I've already closed some and moved my stop down so it's now profit whatever. {image}
alphac, Free3e

Hi guys, I have considered this BEOB too, however I decided not to trade it. Beob was right in the middle of a box and I have bad experiences with such a trade. Just another opinion.
But if you (alphac) sticked to your profit target - congrats!

Have a good trading,

James
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPH4.png Size: 41 KB
  • #139,452
  • Aug 5, 2016 6:11am Aug 5, 2016 6:11am
Trade management question: At what point do you guys/gals move your SL to breakeven? I have been doing so at 10 pips, then to a 7.5 pip trailing stop in another 5-10 pips, depending on how the market is jumping. I am profitable, but I am missing some moves. What say the group?
  • #139,453
  • Aug 5, 2016 6:51am Aug 5, 2016 6:51am
@Dave0 Could you recommend a book / website for the patterns?

Not quite sure what you mean by 'patterns'? But this thread.

@Jsbs Hi guys, I have considered this BEOB too, however I decided not to trade it

Which BEOB do you mean? The one that I arrowed on my chart? I took it because it was a retrace to a good area from a Daily BEOB and it had room to drop to a specific area which I thought price could react.

@oradba Trade management question: At what point do you guys/gals move your SL to breakeven? I have been doing so at 10 pips, then to a 7.5 pip trailing stop in another 5-10 pips, depending on how the market is jumping. I am profitable, but I am missing some moves. What say the group?

Would you use your 10 pips rule on a 1 minute trade and a weekly trade? It depends very much on the chart at the time, I look for bar highs/lows and price flip areas for stop loss placement, you could use big round numbers etc Personally I look to take some profit when trade is halfway to a target I may have in mind. You have to be flexible, no two trades are the same, Mike has posted plenty of his trades on here where he has shown how he moves his stop loss during a trade, check them out.
  • #139,454
  • Aug 5, 2016 8:19am Aug 5, 2016 8:19am
Hi alphac, thank you very much for the journal, i have a question. What is more more important for your strategy: win rate or RR? I imagine your win rate must be >50% normally.

Thanks, lots of learn from you. Keep it
Newbie trader
  • #139,455
  • Aug 7, 2016 9:02am Aug 7, 2016 9:02am
Hope everyone had a great weekend

I find the indices really interesting again this week. SP is pushing into the highs and showing nice divergence. Dow formed a wick type bar closing under the all time highs. Maybe a dow 18500 and SP 2180 reversal situation?
Attached Image (click to enlarge)
Click to Enlarge Name: 8-7-2016 9-58-33 AM.jpg Size: 181 KB
  • #139,456
  • Aug 7, 2016 9:15am Aug 7, 2016 9:15am
another nice area to watch. I like shorts above because of the larger PPZ , recent major swing high , and divergence into this area
Attached Image (click to enlarge)
Click to Enlarge Name: 8-7-2016 10-11-59 AM.jpg Size: 240 KB
  • #139,457
  • Aug 8, 2016 12:55am Aug 8, 2016 12:55am
This weeks forex market preview enjoy....
Inserted Video
  • #139,458
  • Aug 8, 2016 3:42am Aug 8, 2016 3:42am
Stop putting commercials!!! to this thread
  • #139,459
  • Aug 8, 2016 4:25pm Aug 8, 2016 4:25pm
Quoting fex
Hi alphac, thank you very much for the journal, i have a question. What is more more important for your strategy: win rate or RR? I imagine your win rate must be >50% normally. Thanks, lots of learn from you. Keep it
Thank you. At the end of the day neither are, I don't really get hung up on either. With the win rate, I'm more interested in being consistantly profitable than how many trades win. With RR, I'll never turn a trade down because of the RR, RR within a trade should be treated as something that's dynamic, I don't have rigid stops, or take profits for that matter, I'm always prepared to move both and get out of a trade profit or loss. I'm hugely impatient, I can't set a trade up and let it run for days, I want to be out as soon as I can and move things about within the trade as price moves. It's just my trading style and doing things this way was a big step up in my education, I'd heard about developing your own style and never understood what it meant, it was a big breakthrough for me. Mike (mbqb11) is the one to ask about a dynamic stop loss, he's where I learnt from.
  • #139,460
  • Aug 8, 2016 4:29pm Aug 8, 2016 4:29pm
Daily BEOB with broken demand level, looking for a short
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDDaily.png Size: 36 KB
34 traders viewing now