DislikedEJ, FTB 365 EMA, 50 fibo confluence, top of the consolidation box & 117.500 rn.
Only problem is the massive weekly bullish bar.Ignored
Anything can happen.
Where can I learn more about Price Action like those in James16 charts? 9 replies
DislikedEJ, FTB 365 EMA, 50 fibo confluence, top of the consolidation box & 117.500 rn.
Only problem is the massive weekly bullish bar.Ignored
DislikedI have an order on this one as the location I had drawn already as a weekly PPZ on my chart - I would have considered a touch trade from this location but a so-so pin bar will do. Haven't been triggered yet as my entry (1.3650) is quite aggressive - may not get triggered at all
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Dislikedlittle time after your trade you get a very strong DHLC along with your white ma no longer uppish; missed re-enter short!Ignored
DislikedI saw some triangles in your charts; breakouts of these are tradeble, but you don't trade them.
attached one chart with additional line which then makes a channel.
your SL should not be inside the channel.Ignored
Dislikedhey equivestor12, my first impression is that you are massivley over trading.
I dont get some of the TLs you are using either, i would take them out of your trading for now to consentrate on the methods J16 teaches us. I would also go back to basics and trade the bars the traditional way with the traditional SL placements above/below the bars (at least untill you become profitable with them). Trading the retest of the bars imho is a pretty advanced way to trade them, i personally get alarm bells ringing when price retraces well into the bar as in...Ignored
DislikedHey E
I thought I would just go through quickly here and give you some thoughts
Eur/cad - Notice how this is at a swing low, we want these bars at swing highs. Also I see you taking retrace entries which is FINE, but just remember a bar is not validated till it breaks. So you run that risk. Entering so high up on a retrace runs you real close to your stop. So the general stop our rate is going to be higher in my view
gbpcad- super tiny pin coming off some much larger bullish bars. Especially on the 4hr charts you gotta really step up the level...Ignored
DislikedI'll sim test some triangle breakouts tonight and see if anything stands out. Also thanks for the channel tip man.
How would you suggest I back test price action?....should I test one pair over a year, looking for 4hr pin bars in a fib pullback, going with the daily trend?
ThanksIgnored
DislikedCould we be looking at a trend breakout here? (2 matching lows)
What worries me is that the DBLHC closed above the .9600 level. But still it could be caught on the 23.6/38.2 retracement both lying on trouble areas. comments?Ignored
Disliked(TOUNGE IN CHEEK) Fractals: They work in anylizing Charts. Right?
So I can J16 right down to the 1 Minute.
Sure you can. Where are you going to set your SL First TP?
I'm guessing somewhere around 3P SL & 10 TP.
That's a Whole lot of Goodbyes to 3P.
Higher TFs are required to offer a buffer against simple Knee jerk reactions.
If you don't know that yet, you will.
*Sorry Mike. didn't mean to interupt. Gotta go. Limo is here.*
B
* EditIgnored
DislikedRIGHT THATS IT!!!!!!!
thanks to this thread ive decided to take this serious now. No get rich quick thinking no more, im going to work at this.
Im only 26 years old, so i thought hey I got plenty of time (i hope)
I own my own taxi, this is where it really helps me for many reasons.
Now becuase of the determination this thread has given me, im going to work more hours, and the extra money i earn will go straight into my forex account, building it up while i trade demo this method.
I have no boss to ask for more hours, i am my boss. SO i...Ignored
Dislikedgood for you Dean, once you put yourself into the long haul mentality it takes a lot of that pressure away we put on ourselves. If it takes 1 year, 2, 3, 5 years is it worth it? I think so.
Best
MikeIgnored
Dislikedthanks dude, are you a part of James16 private group, you seem to be a popular member here?Ignored
DislikedI'm not sure if this is the right place to post this message, so please move it if you deem necessary. Let me provide a little context. I am a newbie researching Forex. I've done well in my career and have always enjoyed following the financial markets. Forex to me offers another possibility to make money.
I've seen a number of posts questioning the motives of James and the Private Forum. I am not a member of the private forum and have never been there. My take on all of this is that James is here to provide you with an edge. You become a member...Ignored
DislikedI think they all just like my avatar
I am an instructor on the site yes
Best
MikeIgnored
Dislikedthanks dude, are you a part of James16 private group, you seem to be a popular member here?Ignored
Dislikedah i see, hence why i should be extra nice to you, i hope to sign up to his private membershib soon, but im learning so much from the free stuff, i just cant see whats left to say, hopefully you can shed some light on thisIgnored
DislikedThis one I also have an over-aggressive order on (117.60) as It looks like it might be in a channel between 117.50 and about ~114.00, could be a nice one if it works out. That weekly BUOB is a concern but it didn't close above the PPZ and I think EUR might be in for some selling this week
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