DislikedThanks Gorubin and Mike
BTW when you say times like this, are you refering to volatility?Ignored
Mike
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedThanks Gorubin and Mike
BTW when you say times like this, are you refering to volatility?Ignored
DislikedI am not impressed with either...
Ej:
As i see it Ej's got more to it than just the 126 level, notice the 128 level and the ppz flip between them. scrolling back I can see that price did get trapped between this zone several times.
I won't recant my anticipation or weak yen crosses...
Gj:
Like Ej it's got some resistance around 137, you could place an order above this level but for me it would be more a trade forced.
In a nutshell...both these Like the Uj pin earlier that did'nt materialize much appear near swing highs with resistance...Ignored
Disliked
I'm in this for the long haul and hopefully I've already proved that I'm not afraid to put in the hours - I think I've been on the wrong road though, and you're right, it's time to step back and unlearn some stuff. I have ploughed my way through what for me were some incredibly complex and I think probably very scholarly books (anyone read Fibonacci Analysis by Constance Brown for example) but none of it seems to have helped.
"Tortured soul" is right...Ignored
Cons:
This is a very tempting setup for me. I see many reasons to take this trade. I know that risk/reward is not as important when you take high probability A+ trades, but I still do not know what an A+ trade is. Since I have been following this thread closely, I have always seen at least one reason to stay out of every trade, even the ones identified as A+ trades by some senior members. I suppose this will change with time and patience.
I don't think this one falls into the A+ category because the USD/CHF made its big move today based on news. Also, I feel that taking this trade might be bad money management. I think the move has run out of steam and I doubt that the high of the BUOB will be broken anytime soon.
I suppose I could find a much better R:R ration if I look at some lower time frames and try to find some price action above 1.19, but I am just a rookie trying to learn the basics and struggling to stick to the important rules provided for beginners.
Thanks to several senior members and even some rookies like Josh (Man, I wish I had your discipline this early in my trading), I am slowly learning to be patient and wait for the best setups.
What you you think about my analysis? Please feel free to provide constructive criticism.
Disliked[Thanks to James16 for starting this thread. Thanks to all the posters who have made it the textbook to learn, with thousands of examples, answers to every question, insight on money management and trading styles, and lots of encouragement along the way. I have learned so much about trading in the last 2 months, all from simply reading, studying, reviewing, and applying the principles in this thread. Keep it up everybody, we've really got something amazing here
JoshIgnored
DislikedA follower of james 16 thread was lost but back and better. i missed not posting here for long time. hope there's room for a prodigal fellow like me?...jaroo hope u still remember me....dibs traderIgnored
DislikedJ16 is a simple method, so I'm sure with time and practice you will succeed.
Below is a curve of pure j16 trades on one of my conservative accounts over 8 month period. Well, first 30 trades were pure 16 (pins, beovb, etc..) 31-70 are still J16 trades but traded only around good confluence or ppzs.
You're not alone here. Take time to digest this material and demo until you can trade bars with your eyes close. As someone already mentioned, it's well worth studying it.
I can assure you this curve had a different slope few years ago.., but I didn't...Ignored
DislikedJohn
Excuse my ignorance but why did u take this trade?
Thanks gerardIgnored
DislikedJohn
Excuse my ignorance but why did u take this trade?
Thanks gerardIgnored
DislikedAnyone notice this PB developing on the monthly DOW JONES INDEX? It still has 2 weeks to complete the bar but might be worth keeping your eyes on. Could this be calling a bottom or just a short term reversal?
There is also confluence with a PPZ going back to '86 and the 61.8% FIB.Ignored
Dislikedeu/yen looks like it could continue its raleigh..??
buob breaking the ib (4h),a break above this could be the break out of its current range,targeting 128.5 - 131
does this look good to anyone else??
EDIE: just broke northIgnored
DislikedYou talkin' to me? You talkin' to me? You talkin' to me? Then who the hell else are you talkin' to? You talkin' to me? Well I'm the only one here. Who the f%$& do you think you're talking to?
Sorry, couldn't help channeling Travis Bickle there. http://www.youtube.com/watch?v=EgcVLOe9qFM&feature=related
So are you talking to me?Ignored
DislikedJ16 is a simple method, so I'm sure with time and practice you will succeed.
Below is a curve of pure j16 trades on one of my conservative accounts over 8 month period. Well, first 30 trades were pure 16 (pins, beovb, etc..) 31-70 are still J16 trades but traded only around good confluence or ppzs.
You're not alone here. Take time to digest this material and demo until you can trade bars with your eyes close. As someone already mentioned, it's well worth studying it.
I can assure you this curve had a different slope few years ago.., but I didn't...Ignored