james16 Chart Thread

bundyraider · #**55505** Feb 19, 2010 5:44pm

Quote:

Originally Posted by Riskee

Hey Bundy , wasn't checking the forum so didn't see our post .
yea , this was a good trade , however the U/J candle didn't close the way it was so didn't enter , you're right , WAITING and Patience is the key to successful trading , especially when there's a formation that's about to happen , so you got any trades in the market ??!!

Sorry Riskee, didn't look back far enough last night...

Trading the BUOB on the EURJPY 4hr...

...and I had an order on that A/U bar of yours that triggered right on the pip before reversing. lol I liked that one even though I could see the potential to reverse like that. :P ...Going to let it play out. If it weren't Friday I'd have probably looked for a setup to add more at .9000. ...but was supposed to go to a 30th b/day...and did.

Both are half positions. ...I've just got back to it and like to come in carefully after a big break from trading.
Has been a wise decision in the past. lol

bundyraider · #**55727** Feb 22, 2010 7:17pm

Quote:

Originally Posted by Cherry

Hello again,

Would someone please be able to check the zones I have plotted here as the more important zones over last 12 months that we might find good PA at?

There seems no end of them and I don't know how many or how few are best to watch?

Would really appreciate some advice on this!

Thanks...
Cherry

Hi Cherry,

Usually if you're not convinced then it's not worth trading them.

The good ones are VERY obvious when they come along.
Imagine what you will do when price prints a Strong pin bar off of the top most level you marked out.... You will take it won't you? Because it's clear as day how good it is!!

Same with the low from October 9th. A big Bullish Outside bar or pinbar etc off of that level and I bet you take it without worry.

The current range high at .7100 is pretty clear too. Three times it's had a rejection. Two of them pretty exact to the level. (It's also the 50% retracement level of the mid year highs to the October low.)

Another good but trickier one? 13th Nov 08, 10th Feb 09 started one @ 1.7450 ...That's a good level. Look how clearly it created rejections , on both long and short sides.

I think you're stressing because you're worried there are trades you will miss out on in all those other zones you marked. ...When you should just be waiting for the ones that are "no brainers". And all the good trades ARE "no brainers".
You kick yourself over the other sub-standard trades you take in between these "no brainers" , when they eventually do come along.

Don't worry , it'll become obvious over time. A lot of the levels you marked out are ones you'd tighten up your stops at, etc and manage your trades, but the "trade starting" ones will pop out at you when they come along.

Cory's advicw was good too. Use your monthly/weekly charts etc to get the BIG levels.

bundyraider · #**55731** Feb 22, 2010 7:46pm

Quote:

Originally Posted by Cherry

I see your point Bundy, A+++ and ride it, or otherwise an A- to the first spot... is the difference.

Sounded like you would still try to trade off of the "fuzzier levels" and calling them A- ??? I wouldn't even bother with those ones AT ALL. They are where you acount goes backwards or sideways.

A- is probably what you'd call the current range high! ...It's a good level that's tradable, but you're still trading into the mess below it and need to be careful.

The current range... You'd trade off of the top of it, like I said.... but it's still a lower grade trade and you'd be careful ....the fuzzier levels you marked out are the management ones. Where you have to be careful.
That's a great PPZ to trade off, but with mess below it. There's not much space.

An A+++ trade or whatever you would want to call it.... They are like Mikes "Cherry Picking" video . (Have you seen that yet???) ....They are in a league of their own and nothing like what the current chart can give you. Watch the video. In fact all of the guest videos if you can.

bundyraider · #**55752** Feb 23, 2010 2:13am

Quote:

Originally Posted by Cherry

Bundy, I'm just a tad confused here as you said in the first reply..
The current range high at .7100 is pretty clear too. Three times it's had a rejection. Two of them pretty exact to the level. (It's also the 50% retracement level of the mid year highs to the October low.)

Now you call it an A-..... is that only because of the current 'mess' below but otherwise it is a good level?

My bad Cherry, was trying to reply quickly without doing a diagram. Kind of thought it would be vague. lol

I'll put a better one together and post it shortly.

bundyraider · #**55753** Feb 23, 2010 2:15am

Quote:

Originally Posted by mbqb11

hahahaha

Yeah... lol

Even up until around 1000 pages or more it was still doable.

bundyraider · #**55755** Feb 23, 2010 2:38am

Quote:

Originally Posted by Cherry

Am I really a bad Cherry??

Smart asse. LOL

You knew what I meant.

I'm trying to think how I'm going to do this. Have been playing with the TIG welder all arvo and not quite "with it" at the moment. lol

bundyraider · #**55759** Feb 23, 2010 3:27am

Quote:

Originally Posted by Cherry

Now you call it an A-..... is that only because of the current 'mess' below but otherwise it is a good level?

Spot on.

A top notch trade would have very little resistance/support in the way of getting into a decent profit.

With that level, it's a strong level, so any good PA off of it is a good sign. Unfortunately you have to be aware of the levels that are VERY close to your entry below it.
It's just a higher chance of a winner becoming a loser if you're not careful.

In the diagram below...

If you trade short off of the orange level you need to be weary of the mess of levels between that orange and the red level and have a plan.

You wouldn't trade off of the purple level. ...It hasn't been respected very well at all. You'd keep note of it as maybe a take profit level, but not one to open a new position.

Keep asking away if I'm confusing you still.

Quote:

Your advice to stick with the perfect ones, as has been said many times on here, is taken and is one reason why I need to understand the PPZ's.... (and patience!!) That seems to be the extremes with good clear runs before trouble spots.

Like I said in the first post, the best PPZs are VERY obvious. You won't have any problems knowing the good ones.

That pair you chose doesn't have super clear levels like some others do at times, so don't stress that you're seeing so many messy ones in it. The best examples of PPZs are by Raczekfx ...someone compiled all his posts somewhere last year in here. Go through them and check them out. You may even pick up on other tricks he uses to choose great levels (Such as bar lows on the monthly chart etc)

Keep in mind that some currency pairs have unclear levels and you'll blow a fuse trying to pick them out. Best to move on to the next pair instead.

.

bundyraider · #**55760** Feb 23, 2010 3:36am

Quote:

Originally Posted by Cherry

Still friends?

OK ...but you're on probation.

Quote:

Have a look at the new chart, seems like most of the points that form the PPZ's are the big rubber band moves. This is part of what I used in previous method but I think Jim mentioned it.

Agree?

Of course.

Though, it's great when those Big rubber band moves happen at the same level consistently, THAT's what you really want. Many big bounces off the same level over the years.

bundyraider · #**55761** Feb 23, 2010 3:37am

Quote:

Originally Posted by nasir.khan

See i had the same problem regarding drawing PPZ's.

http://www.forexfactory.com/showpost...ostcount=46095

But i did managed to came out of this.

All you need to do is to go through Jim,Mike, Ghous's posts.

Might take take a week or two.

.

Thanks Nasir.

I keep forgetting that the wheel doesn't need to be re-invented every time. lol

bundyraider · #**55972** Feb 24, 2010 3:19am

Quote:

Originally Posted by antgal23

Hi all

just had a a-ha moment

drew a horizontal line on the monthly where i thought was a ppz (1.0389)

then checked it out on the weekly and it would have made for a good entry after the PB

and on the daily it shows as a ppz and breaking would have been a strong bullish move

am i making any sense?

Yep!

You'll learn to fine tune your selection of the level (closer to round numbers sometimes etc) , but you're definitely on the right track, man.

bundyraider · #**55975** Feb 24, 2010 3:26am

Quote:

Originally Posted by antgal23

Hi all

just had a a-ha moment

And example of what I meant by how you'll get better at it....

(Even better when you get many factors, such as other fibs., lining up too, of course. )

edit: By the way. Everyone develops their own preferences for doing this. So Learn what works for you.

bundyraider · #**55982** Feb 24, 2010 3:49am

Quote:

Originally Posted by antgal23

Hi Bundy

so the 38 fib acts as resisitance on the daily and weekly tfs?

The smart answer is to say " ...no.. , Whatever the proven level is" acts as support/resistance. Always make sure a level is proven valid first and forms a PPZ around it.

But in many cases the level will be 'chosen' because of a fib or big round number etc framed it that way. And doesn't have to be exact level to make you money. Allow for overshoots etc.

And never take it for granted that one Fib level will mean the others will work from that same drawn fib study either.
.
.

bundyraider · #**56005** Feb 24, 2010 7:34am

Quote:

Originally Posted by MarkyBoy

Hi,

could somebody advise me as to whether the last 4 hour candle on my EURJPY chart would consititute a Bearish Vertical Outside Vertical Bar? If so, would it have been a good strategy to sell on the pullback to the 23.6 Fib (see attached chart)

Obviously it looks like a good trade now, but I just wanted to check my understanding.

Thanks,

Mark

I'll add to what Joel and Dobes said.

...As you progress in your learning you'll start taking note of Mini support/resistance flips like the one marked in my chart below.

They can cause real trouble most of the time if you don't take notice of them. An entry at the point you mentioned would have you needing to be very careful at that price pivot shown.
Not much room for your trade, is there?

...Later on you may even find yourself making money in-between-bars like this on dailies etc (except there are better examples for this advanced technique), but it's important to learn to see them right now too. They can get in the way of your trades getting a good start if you don't take notice of them and you need to understand why.

Start studying them charts looking for these. Well worth it.

.

bundyraider · #**56036** Feb 24, 2010 12:25pm

Miss a lot of these....

Two Bar Low on GBPCAD 1hr. Equals break of 4hr BEOB too.

bundyraider · #**56037** Feb 24, 2010 12:29pm

Quote:

Originally Posted by mbqb11

eeesh doh!

lol.

Not like you to miss that one.

bundyraider · #**56099** Feb 24, 2010 5:19pm

Quote:

Originally Posted by Ryanmcd

I say get long them both, have to stick with the trend

LOL.

Hedge. Take a position in both at the same time.

bundyraider · #**56103** Feb 24, 2010 5:26pm

Quote:

Originally Posted by mbqb11

Here is a trade closed out today

4hr in a nice downtrend. Price consolidates in a bearish flag type pattern around the .7000 round number +ppz(look to the left of the pattern at that box of consolidation). Breaks out and pullbacks to round number former flag and forms a BEOB engulfing 7 bars or so with a very strong close. First blue box is b/e second was full take profit.

Nice.

Seen that at the too late around 6950. Was spewin. Such a nice bar.

bundyraider · #**56104** Feb 24, 2010 5:27pm

Quote:

Originally Posted by joelcf

Clearly, the solution is to trade them both, but on different timeframes to avoid correlation issues - otherwise, your positions might cancel each other out...

...and you will end up trading against yourself.

lol. Very good.

bundyraider · #**56287** Feb 25, 2010 6:32pm

Quote:

Originally Posted by supremeChaos

what do u exactly mean by this?
similar to MT4 server files?

Thanks!

No , he means you can set your own custom 'offset' time for bar starts. Accucharts constructs various charts from tick data on the fly. (....Yes, that's right, 'ticks' are compiling intelligence data on their mortal enemies.... "flies"

)

FX Solutions has Accucharts too.

bundyraider · #**56288** Feb 25, 2010 6:52pm

Quote:

Originally Posted by datogio

Man I hate missed ones more than loosers, Is there any way to avoid them? I guess not.

could have been the great conclusion of the magic month.

Get over it. lol
I waited and waited for this (chart below) and couldn't take it because of the daily Highs it was pointing into. Was hoping for the secondary pull-back later on. This 'missing out' happens all the time, but the pay off for being extra picky is worth it.

We don't want to dwell on the ones that don't work as we need them too. ....The next time you'll just end up changing your rules just to 'not miss out'.

It's hard , I know. lol

(edit: What daily highs??? Must have been delirious. Man this cold I caught is getting to me!! bummer , should have taking it after all.

)

bundyraider · #**56389** Feb 26, 2010 4:32am

Quote:

Originally Posted by triger88990

Nice catalog sheet there

I play with those kind of sheet catalog all the day and trading as well,but with trading I'm different I like to keep it simple

I was working as a Layout designer for Siemens, doing PCB design for all kind of electronic circuits

They have licence for Menthor Graphics PADS and Zuken,but I was playing with PADS

and also I was doing signal integrity analyze and EMI/ECM design problems with HyperLynx,it was my job to reduce development and product costs,and increasing product performance

do you know what I'm talking...

Nice.

bundyraider · #**56397** Feb 26, 2010 6:08am

Quote:

Originally Posted by beebolbod

Hi Everybody,

just joined the J16 way of thinking - new to trading and now more married to my computer than ever it seems - no bad thing now i'm learning from you all.

One quick question if i may....

I'm in 'desperate to trade' mode (the early days) and i'm practising being patient and waiting for real A+ setups on the dailies and weeklies, reading, learning, watching (and many other things ending in 'ing') whilst waiting.

Is it just me or is there really nothing doing at these TF at the moment?

I dont want a steer towards anything here, just...

It's not just you.

It is a little intermediatory at the moment. If there were great trades happening on daily etc you'd have the guys and gals here posting them. You'd know about it.

Any trades that have come up have been on the 'tricky' side at the least. Not the types you would want to confuse yourself with early on anyway.

bundyraider · #**56401** Feb 26, 2010 6:32am

Quote:

Originally Posted by beebolbod

Well i must confess to taking a little short trade on USD/CHF (as above) for a 40 pip gain. I 'knew' where it'd likely find support, and it has, but i've taken profit and moved stop to BE so i can rest on it.

I couldn't help myself.

That's good though.

You recognised the trouble spot and you've made money in a sideways market.

Had that pair in mind when answering your post before. Trickier, but played smart ...then all's good.

bundyraider · #**56488** Feb 26, 2010 5:46pm

Quote:

Originally Posted by Ryanmcd

P.S. When I trade I have ***0*** things that show me my account balance ever, I think that makes it easier if you see no value on the chart then you just trade them as you see them.

Agree with that. Do the same.

Instead of closing trades when they reach Value X, it makes it easier to just let the chart tell me when to go flat..

bundyraider · #**56490** Feb 26, 2010 6:03pm

Quote:

Originally Posted by jarroo

The power of Price Action. James16 talks about being able to trade in these consolidation areas. Here is a great example of one. Time and practise is the name of the game.

Takes a fair bit of confidence. Did for me anyway. You still want clear S/R happening IMO and you learn that with all else you do in here.

bundyraider · #**56718** Mar 1, 2010 6:22pm

Quote:

Originally Posted by Riskee

Yes buddy , I meant it for a short trade , But I didn't put the Fibs for entering the trade , just to mark the problem areas to the downside

They're the right way around for a short trade anyway. lol

bundyraider · #**56719** Mar 1, 2010 6:49pm

Fib Expansions

Someone asked me about whether I still use fib expansions the other day and I intended to answer the post the next day. Anyone?? Sorry about that anyway.

Anyway. I don't use them very often. It's taken me until last night to use one again and be reminded, if that gives you an idea. lol

For me , they're more to find targets in long trends into "space" ,but most of the time I'm only trading to range targets , swing highs/lows, etc where I have no use for them.

They're also handy when a move just looks like it has a LOOOOng way to go before my expected target. I can get an idea of where the first major pullback/exhaustion may happen. I'm more likely to close the trade at that level then to 'wait-and-see' what PA brings.

Same as all the classic patterns. ...Pretty is best.
They are good to use when you have a neat, obvious and pretty 1-2-3 pattern starting off the trend to base it on, which isn't always the case. It's also good to have them line up with one of your PPZ's and so on in the path ahead of the trade (As with everything.

). Once again, that's the target I'm more likely to just close the whole trade at ,rather than wait for confirmation of the end of the move through PA .

I could probably use them more, but get away without it, so no point adding more work.

,B

bundyraider · #**56773** Mar 2, 2010 6:55am

Quote:

Originally Posted by SeekingLight

Before you take the shotgun to your installation and do everything mentioned, make sure you even have the complete file.
I.e. check the filesize and whether the file itself is intact.
If need be, try to reget the file.

Cherry,

This is sounding like a problem that would be easier paying a good honest computer tech to look at , or a computer savvy friend. It should be easy for them to suss something out.
Do you you have any computer wiz friends who can look at it for you?

I have had the issue with the J16 videos not liking the rewind features etc on one player or another. The audio would stop after I touched paused and skipped back or something. I'm sure it was better once I switched over and watched them using VLC though. Maybe even WinAmp.

It would be a LOT easier for someone to fault find if they were physically at your computer anyway mate.

bundyraider · #**56929** Mar 3, 2010 3:52am

Quote:

Originally Posted by mbqb11

pour salt in my open wound

when I do crash, I can sleep with the best of them!

There was a ten y/o girl or something in one of the papers or mums magazines or something the other day. She can have bouts of sleep that last ten days straight or more. They can't wake her. Something caused by a virus early on in her life or something. That'd suck.
She slept through an entire family holiday once. ....Poor thing.

bundyraider · #**56977** Mar 3, 2010 6:30am

Quote:

Originally Posted by james16

interesting. now oanda is near the top in customer reviews.

damn i was younger looking then.

Oanda is pretty good now. Awesome spreads and obviously decent enough clout to handle big accounts too. Any issues I have with them on those trades have have been my fault. lol

I think a lot of the complaints about them through the ages have been from news traders who get slipped around announcement time (...sorry, not "slipped", obviously I meant..."Ripped off by those rotten B____s"

)

bundyraider · #**56980** Mar 3, 2010 6:35am

Quote:

Originally Posted by james16

bundy was born here.

lol. ...Just about.

bundyraider · #**56987** Mar 3, 2010 6:40am

Quote:

Originally Posted by james16

3800

Thinking same.

bundyraider · #**56990** Mar 3, 2010 6:43am

Quote:

Originally Posted by TiaForex

Round number. Good place to look for a pinbar....

Liking the 4 hr (ibfx) for continuation after a break too. Let's see how she closes.

bundyraider · #**56994** Mar 3, 2010 6:53am

Quote:

Originally Posted by triger88990

you have to push it with more power next time

3800!!!!

and more ahead

didn't want to miss it

all the best!!

ps: we are heading to BRN 4000 thats the big place

...Just realised it was page number! ...I was talking about E/U...

Top trend line is whack. Ignore it. Must have slipped. lol

bundyraider · #**56998** Mar 3, 2010 7:07am

Quote:

Originally Posted by triger88990

you are a bad boy

leave those alone

I did prepare some charts update for them with some thoughts,together with usdchf.

and I have on my radar .3845,with a little help from NFP

we may get there.

all the best!!

For now, "Range" is the mode we be in. ...So 'break' is the outside option.

Plus the bar didn't close high enough for me to like the break option a lot.

I'd target just short of 3800. ...I'd take profit at 3780 area.
.