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james16 Chart Thread
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Jun 11, 2010 9:11am
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Borderline yahoo & oh-no!
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interesting discussion on the gbpusd setup.
i was watching gbpcad at that time, there seem to be a fake upside breakout (no chart but... price tried to breach a downsloping trendline -- on H1/H4 if i remember correctly).
i was reluctant to trade it short because it has gone down quite a bit(for my taste). luckily, i was sort of 'on time' when gbpusd was forming bearish PA (H4 BEOB, FXPro).
i traded gbpusd instead of gbpcad.
am expecting a possibility of price revisiting 1.4350 - 1.4450 (price during June 8/9), if downside momentum continues.
if 1.4500 gives way, 1.4470/80 seem to be the next immediate trouble area.
Let's see....
demo & live trades happening in real time.... via a great discussion in a great thread 
nice Friday...  Have a healthy weekend all!
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Jun 11, 2010 10:12am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by fxeturn
Looking at the weekly bar now.... Can strong confluences beat historical patterns or even momentum?
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Hello fxeturn,
imho, u should lean on momentum/trend while being aware of confluences &/or historical patterns(what price did in the past). when momentum is strong/very strong, price blows past strong S/R or confluences.
the PB with a thumbs down is pretty big BUT has about 2/3 of its body 'embedded' within the previous bar. ideally, we want a PB with about 2/3 or 3/4 or majority of its body protruding away from prior bars.
the current PB, in comparison is relatively smaller than the 'thumbs down' PB.
also keep in mind, cad has been strong recently (aud is weak like eur). it is even evident in your weekly chart (see the last 6 candles).
most likely this is a pause PB. if it does beak north, it's likely that it will create a minor bounce up north. but we'll never now til next week or a week after, what PA does.
Good luck in whatever u decide to do!
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Jun 13, 2010 7:47am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by fxeturn
...At the moment I'm not sure when to decide if a momentum is strong enough to blow past strong S/R and confluences. Is this discretionary or is there any visual keys to acknowledge it? It's simply a visual thing....
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it's visual:
gauge momentum by watching price/price action.
indicators are derivatives of price so, that is being redundant. although it helps too, depending on the trader.
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Jun 13, 2010 8:06am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by ghous
Wow! that would be cool
Does he even stop by FF these days, haven''t seen a post from him in ages.
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his last post was April 2009. 
i would love a live posts here by Merlin, Diallist, fijitrader & other seniors...  
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Jun 13, 2010 8:21am
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Borderline yahoo & oh-no!
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ddinov,
that may be a continuation BEOB.
who knows u might achieve your objective. ANYTHING is possible. 
watch if cad continues its strength... next week, onwards.
Quote:
Originally Posted by ddinnov
Does anyone like this weekly pin on NAS100. Looks like a correction back into a pretty strong uptrend. ...
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i dont trade this, but..
pretty small pin.
it is embedded in the prior bar.. in other words it is not protruding away from prior bars ---- not an ideal pin.
this may be a pause pin (pause in a trend).... may or may not make a (significant) bounce.
if i were to make a decision, i will not trade this weekly pin. i'll be inclined to look for shorts on any (upward) rally price creates off this pinbar.
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Jun 13, 2010 8:37am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by six gun
Ghous put a link to his piece on ipb's
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Does anyone have the link please?
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try here
i think it's best to read all posts (by everyone, specially by Ghous) about the subject
Quote:
Originally Posted by Atc
Ghous or others who take IPB's
Looking back---
Would you consider this a good IPB
even though it closed above 1.06 level?
....
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i do not have extensive experience with IPBs,
but personally i will take such setups...
(considering the confluences u've mentioned &) regardless of price closing "above 1.06 level" (knowing PPZs are areas, not specific prices).
what i will do is watch PA on Daily and H1/H4 to see how price reacts at 1.0600 & how price closes [i often project in my mind how price will close (example, "will the H4/Daily have a possibility to close as a PB, IPB, etc?") ]... & try to get in on a short as early as possible (example.... a few seconds, minutes or hours prior the IPB complete formation)
that is just me 
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Last edited by supremeChaos, Jun 13, 2010 8:52am
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Jun 14, 2010 3:56am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by fxprocessor
Nice 1 hr BUOB on USDCAD at a confluenced area. ...
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nice.
potential H4 BUOB, in about 1 hour, too (FXDD)
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Jun 14, 2010 4:11am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by Jigsaw
What's everyone's thoughts...
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Hey Jigsaw,
it's been awhile.
i just plotted mine. (just turned the charts on, lol). so far...
1.0360 area.
1.0400 area
1.0430-50
the latter two are daily/weekly ppz's.
my concern is cad strength. i do not expect 1.0400 to get broken. but we'll see..
i was a bit late. envious now of fxp's discount entry.heheh 
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Jun 14, 2010 4:44am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by Jonnyislost
...any thoughts on the validity of Outside bars that appear early in the trading week?...
I wonder if I am worrying about nothing?..
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Hello Jonny,
i think u have a legitimate concern.
but sometimes, Monday PA setups produce good results.
regardless,
the main issue here is psychology:
u are concerned... uneasy.
u might have heard of the saying, "if in doubt, stay out".
so it's best to stay out of the market.
when u are anxious, hesitant, & yet opt to trade, then take a loss in the process, u breed regret (& might beat yourself up) & create stress. this creates a negative trading experience/"climate" which last for several minutes, hours, days... even weeks. Stress is very bad for trading, imho.
I hope i didnt ramble too much. 
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Jun 14, 2010 5:12am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by novice198
While other are looking for long, I was looking for short. Is there something wrong with my understanding?....
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Nothing wrong with your thoughts, no need to worry. 
like i've mentioned, my concern is CAD strength so im inclined to short as well.
(my) question is when, & what price
this is a discussion thread. dont take every post here as the 'only way to trade' nor 'the only tradable setups available out there'.
it is already a given: there are many great setups that we overlook (or dont get to discuss here, for 1 reason or another), & there are many ways to trade.
a trader can be short USDCAD, while another trader is long USDCAD, while another is both short & long USDCAD (at different prices, with different objectives & time horizons).
remember, each one of us has a different personality, risk appetite, goals, lifestyle, etc.... so we all trade differently, in 1 way or another.

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Jun 14, 2010 6:01am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by g_j_hook@yah
anyone else short gbp?? bad news for the currency today
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bad news? why is price up  
i remember your preferred trading strategy (found in your profile): "wait for price to go up, and buy the day before!" 
well, i was short the day before today. learned it from u 
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Jun 14, 2010 6:17am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by g_j_hook@yah
lol......
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i see..
good luck & be alert bro... 
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Jun 14, 2010 6:30am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by g_j_hook@yah
.yeah we might see it hit...
i took half off already..
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I knew it  .... excellent jon! 
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Jun 14, 2010 8:14am
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Borderline yahoo & oh-no!
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who knows ddinov 
u might get your objective. just be patient & manage your trades well. 
__________________
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Jun 14, 2010 10:56am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by six gun
Speaking of missed trades, GBP/JPY is stuffed full of pin bars.
This thread moves so fast I don't get to read all the posts but GBP/JPY is one that I have not seen mentioned much....
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pinbars in what timeframe? which broker?
i had a May27 post, im not sure if that counts.
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Jun 14, 2010 11:03am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by novice198
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One question that is bugging me is about the relevant PPZ. As this is ZONE and not a Line, therefore, IMHO a PPZ on a daily TF would be about 20 to 30 Pip range...Therefore, the question is how far should we go back looking for the PPZ to target our FTA and subsequent TP areas.
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to avoid analysis paralysis, try to concentrate on the concepts shared in this thread. if necessary, among those concepts, try to focus on a few.
a PPZ, imho, may be a few pips, or more than 30pips. ppzs are sometimes wider on higher timeframes, but can get tighter if u check lower timeframes.
how far back to check? hmmm... i think that depends on the trader & the timeframe/s being traded. but definitely, be aware more of the recent S/R's, PPZs, since they represent the PA/orderflow of the current time or the 'NOW'.
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Jun 14, 2010 11:10am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by g_j_hook@yah
aha sorry Mike got the wrong end of the stick there...
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(Sir Mike is probably talking about something akin to or actually a) multiple bar low/high break...
or "flat surface" break 
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Jun 14, 2010 11:18am
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Borderline yahoo & oh-no!
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mbqb11,
 heheh... yes Sir, it's clear.
i guess i should've said single (instead of multiple) bar low/high break.
i think those who trade fractals, call this a fractal break.
just different names for one trade setup 
Thanks!
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Jun 15, 2010 6:02am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by HanSolo
Hello, after some weeks of much work and only a few minutes a day to look out for trading opportunities (and following this thread) I finally took a trade this morning
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my last trade must have been a month ago. I think I may have arrived in the land of patience...!
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awesome trade, awesome patience 
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Jun 15, 2010 7:20am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by johnnykanoo
Guys I need your help. I am a member over at babypips...
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hello john,
nice to see u again.
imho, it's a waste of time & good energy.
u already made a personal effort to share your positive thoughts, i believe Sir James16 appreciates that.  others have too (i've read the first 2 pages, so far)
also, not everyone is dumb & gullible. i checked meatrobot's profile, & it says he joined only in May2010. his responses in that thread started on May24,2010. he only has 25 posts(most/all in that thread?). many readers will notice that & put weight on that info.
as James16 mentioned the other day, June17 is the 5th year of this thread.
That is a good testament of this thread/group's integrity
many readers will notice that & put weight on that info as well.

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Jun 15, 2010 7:36am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by nuclear62
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How do you guys manage with many pairs?... How to make it easier to keep an eye on many pairs at the same time and analyse them?
...
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if u are not used to it, then it's best to check, monitor, manage only 1 currency pair/trade.
if u feel u are ready, u can try keeping an eye on 2-3pairs, then improve from there.
u can simply scan the charts of pairs u are comfortable trading.
other traders have several charts (different timeframes of 1 pair or more; or different pairs on the same timeframe) readily visible once they turn on their trading platforms.
Hope this helps
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Jun 15, 2010 11:44am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by mike w
Everybody go bac...
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Quote:
Originally Posted by Dan-FX
Which..
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Hey Dan-Fx,
click the blue button right after 'james16' (quote within mike_w's post).
That is the link.
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Jun 16, 2010 4:54am
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Borderline yahoo & oh-no!
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i believe the FF calendar still does indicate holidays.
if not, here's a list of related links.
the seniors maybe trading or resting. there are tons of things traders do aside from trading.
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Jun 16, 2010 5:16am
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Borderline yahoo & oh-no!
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extraneo,
on H4 & daily, eur$ has been making higher highs & lows.
so be careful & alert.
if price moves down, possible immediate trouble spots are 1.2230-50, 1.2200, 1.2150-70 (H4 PPZ & recent higher swing low).
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Jun 16, 2010 8:45am
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Borderline yahoo & oh-no!
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extraneo,
hope is not a good weapon in this business...
knowledge & experience are our weapons 
Manage your trade well 
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Jun 16, 2010 10:30pm
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by cashquest
I ....
So James and team, your rules at the beginning of this thread are well understood by this newbie and I hope others that follow, you saved me from being ripped off through a dodgy course, you saved me from diving in with real cash and you have made me understand that although this business is hard work the lifestyle on offer with a reasonably sized account and years of practice is certainly worth the it...
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Hello BR,
 one of several posts that almost often gets overlooked due to to the speed of this thread.
IMHO, not trading for 5 years is a bit too much. u can demo & learn a lot on that 5year period: lots of opportunities (to learn & practice) in that period alone. but if u are comfortable doing that (knowing yourself well), then it's all good.
looking forward to your posts.... awesome first post!
in behalf of all here, welcome!
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Jun 16, 2010 11:46pm
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by joelcf
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The best use of a Kiyosaki book is kindling, imho.
....
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kindling?are u a boy scout?
i have a few Kiyosaki books. i learned many things.
but in the end, i came to realize why several people say his books are crap.
"Mushroom fluff" sums it up, i think?
Quote:
Originally Posted by ghous
Did a bit of research on my part and what I found out will just flat out drop james' jaw here...
here's a chart displaying our growth along with avatars of some of the angels that made it all possible.....
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parabolic...
wish that were my account's progression 
Thanks ghous!
Quote:
Originally Posted by supremeChaos
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the seniors maybe trading or resting. there are tons of things traders do aside from trading.
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the celebration today is perhaps why the seniors were absent yesterday... lol
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Last edited by supremeChaos, Jun 16, 2010 11:58pm
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Jun 18, 2010 2:13am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by unlv_tj
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Honestly, my dream was to always move to either Brazil or Germany (depending upon money and language skills).
Well, I am horrible at languages, so I am probably stuck in either an English speaking country, or a country where you can get by any where with English ..
I turn 32 in 12 days, and I hate where I live....
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advance happy birthday 
im in Asia, there are a lot of cheap countries to live in here.
here in the Philippines, most people speak/understand English.
sometimes, u dont need to speak. just point your finger or do some sign language, we can still understand. 
if u live alone, u can live off of +/-$200 a month (assuming u rent a place)
Quote:
Originally Posted by tubguy
Amen!...So I guess they're not all bad. Just seems hard to find the good ones.
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what do u mean by 'good ones'?
it must have to do with the location.
try here. 
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Jun 18, 2010 6:03am
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Borderline yahoo & oh-no!
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Quote:
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Usually pinbars appear at the same time in many pairs, do you qualify only 1-2 of them, or do you trade them all?...
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nuclear62, fxeturn,
if i remember correctly,
some seniors like mbqb11 take the best among the pairs, & trade that one pair.
others like raczekfx trade a few simultaneously.
Quote:
Originally Posted by fxeturn
There are pros and cons for both approaches imho. .
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u are correct, there are + & -.
Quote:
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...If you spread out your trades across several pairs, you will expose yourself to less risks than from a single pair, but you'll have to manage heavily
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nuclear62 hasmade a good point.(see below)
Quote:
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It?s hard while many pairs correlate each other so if one fails so do many others,
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in the end, know the pros & cons. then trade what u are comfortable with. have a plan & be prepared for the consequences (be it positive or negative).

__________________
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Jun 18, 2010 6:11am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by forexben
I posted the 4 hour a few posts back. I still can't see where the GBP is heading. Here is the daily
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it's difficult to predict where price is going, all the time.
we just have to try to be prepared & act accordingly, when an opportunity comes.
also, we can come up with possible scenarios. this way, we can be better prepared.
one scenario
for now, 14800 - 1.4900 seem to be a line in the sand.
above it, we may see further upside potential; below it, downside potential or consolidation.

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Jun 18, 2010 7:20am
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Borderline yahoo & oh-no!
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feri,
BRN is Big Round Number
the Search tool always helps 
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Failure is the mother of success: learn from 'her'
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Jun 18, 2010 7:30am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by vasco25
Hi!
I see, but which trend do you favour?...
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IMHO, it depends on your profit goals & the type of trader u are.
each time frame has its respective trend.
for example,
-if u are a scalper, u can look at the trend of M5 - H4. u dont go on basing your trades on daily/weekly/monthly trends, in the sense that price can oscillate up & down on M5 - H4 (with many trade opportunities).
-for those who trade H1/H4, then u can look at daily/weekly timeframe for trend direction.
these are just examples.
Hope i made sense.
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Jun 18, 2010 7:40am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by extraneo
Pinbar on gbp usd tf 6H
what do you think?
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wow, 6H PB.
IMHO, intraday looks bullish.
if that 6HPB breaks, possible immediate traffic areas are 1.4750-60, 1.4700-20.
 ....wow, my 4000th post 
i intentionally did it on james16 thread.
Thanks everyone.
Thanks Sir James16 & group!
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Jun 18, 2010 8:37am
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Borderline yahoo & oh-no!
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ddinnov,
Thanks Sir.
today & the other day, there has been mention of ' quadwitching' today. ( quadruple witching)
this may explain the PA today/this week. plus it's Friday.
EDIT:
some say it's triple witching (& not quadruple)
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Last edited by supremeChaos, Jun 18, 2010 10:25am
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Jun 18, 2010 9:13am
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Borderline yahoo & oh-no!
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bug,
i have no idea as i have no experience outside Forex.
u trade stock indices,so i think u are in a better position to answer.
who knows, we might see some action later or many traders already have made position adjustments within this week, or week/s prior.
it's Friday & US Summer is in (i believe some already have taken their summer breaks 2 weeks ago, around US memorial day). these may be additional factors.
Quote:
Originally Posted by bug
..thanks... If past experience is any guide, expiration weeks usually end counter the trend of the week ie. if the week has been up, then it ends with a dip. This might now have been the case prior to 2009, but it certainly has been the case for at least a year know. What do you think? Are you expecting any action in during the closing hours?
..
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Jun 19, 2010 1:16am
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Borderline yahoo & oh-no!
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Quote:
Originally Posted by james16
your a great friend and an important part of this thread supreme.
thank you sir,
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one day, i plan to (surprise) visit u.
wait for me
Quote:
Originally Posted by tubguy
Hey Supreme,
When I get rich tradin I'll come buy you a drink and you can introduce me to a few.
The problem could be....I'm quite picky. LOL
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LOL.
"picky" is relative. im picky too.
can u show me pictures of your desired types?
i see a lot of foreigners & they have partnered with Filipina "beauty" of all types.
& no need to be rich to get here & stay here.
it's cheap to live here. u can live off of 15 - 50 pips (standard lots  ) a month here.
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