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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

Quoting Dan Gilbert
Well guys I'm going to take a break from this thread for a bit, focus on the PF videos/text tutorials/FIJI's material and spend next week making 100% my own trades....
Good mature decision Dan,

we'll see you on the charts

g.
I believe . . .
Quoting marcelnyo
I felt that I'm becoming more of a recluse the more I trade, I am more quiet and starts to feels uneasy in a crowd where I am not the center of attention, thank God I'm not nervous in front of an audience because I always felt like myself when doing that.
I think this is just a phase in the early years of trading. It's funny many trade to free themselves up to do things they want, but all their time is spent trading. I see it as a phase, we are putting in time today to have free time at a later date.

If you are still like this after a few years then maybe there is a deeper issue, until then stay focused and dedicated, but try to have a little more balance.

When the thrill is gone and its boring and you have more money than you know what to do with, I'm sure the last thing you'll be doing is staying glued to the screen.
Don't wish it were easier, wish you were better. ~ Jim Rohn
Quoting smikester
Go outside and chop some wood (if it's daylight) or you'll go bonkers.
I can't logging is illegal here in Indonesia LOL, might as well chop the neighbor's grass while I'm at it
Quoting LasVahGoose
I think this is just a phase in the early years of trading....
Yeah maybe you're right now it's only a thought but I'll let you guys know if in a few years I'm still like this... meanwhile I think I'll just stay with what I do... I'm longing to have those days when I can still trade while I'm drunk from whiskey... and make money consistently... LOL
Quoting marcelnyo
I'm longing to have those days when I can still trade while I'm drunk from whiskey... and make money consistently... LOL
You can achieve whatever you set your mind to. Forget the whiskey, go with some good scotches.
Don't wish it were easier, wish you were better. ~ Jim Rohn
Quoting marcelnyo
Man, this place is a graveyard in the weekend,

What are you guys doing? I'm working on a daytrade system on HSI Futures but lack historical tick by tick data going back at least 1 year, any Idea where I can find or buy one cheaply? or maybe some one here has a subscription to a quote provider that could provide it for free

To tell you the truth, this is about one of the only two threads I visit regularly in forexfactory, no, that's not the truth, I think the amount of converstion or social interaction I spend here is actually more if compared...
you are not alone.
I just completed reading all the posts from my mobile that I missed due to traveling.
IF I AM NOT SLEEPING I AM WATCHING CHARTS AND POSTING AT FF.
anyways Marcel I think it's worth it.
i agree, everything is about charts charts trading trading in the early stages i am like that as well. I think we do it because we are new and just want to learn as much as possible or something. I find when i do stuff in relation to trading on the wkend i end up making it complicated lol.
Hi ALL,

I just wanted to get some thoughts on this action on the DOW chart.

Nice PB
Swing low
Round number.

Opened and closed just above 10000.

I know that we cannot trade this index, but it sure may help to know what the US markets may do in the coming days or so.
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Quoting Ebont74
Hi ALL,

I just wanted to get some thoughts on this action on the DOW chart.

Nice PB
Swing low
Round number.

Opened and closed just above 10000.

I know that we cannot trade this index, but it sure may help to know what the US markets may do in the coming days or so.

Can't you trade it on Betonmarkets?
Quoting Ebont74
Hi ALL,

I just wanted to get some thoughts on this action on the DOW chart.

Nice PB
Swing low
Round number.

Opened and closed just above 10000.

I know that we cannot trade this index, but it sure may help to know what the US markets may do in the coming days or so.
I sometimes trade the DJI using hymarkets' mini web trader platform, 0.1$ per pip but horrendous platform and no charting, check them out if you're interested www.hymarkets.com
this one I have missed it,didn't take it along with my others yen crosess(see chart below) but I do have a plan to nail it down a good entry.

What are the odds of breaking old support 76.50-30. Price bounces right off it so......., could be this the same scenario like the e/j free fall from last couple of weeks, when it bounces off old support 127.00 and...... look what she did after that(weekley chart).

Althought we have a PB on dji chart,I do have some concern about ,it was made on friday so is more artificial induced,people tend to take profits after such a large fall,and especially at end weekends.

it could work out to the first critical point(the PB dji chart) and then....,this move can provide a good retracement and it could be a good chance for an entry on crosess if you aren't already in, but I could be totally wrong

and don't forget that on monthly chart we already have a BEOB off an area with a lot of confluence.

this is just my process thought off how I see they will play next week

hope I was clearly enough and trade wisely

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Quoting triger88990
this one I have missed it,didn't take it along with my others yen crosess(see chart below) but I do have a plan to nail it down a good entry.

What are the odds of breaking old support 76.50-30. Price bounces right off it so......., could be this the same scenario like the e/j free fall from last couple of weeks, when it bounces off old support 127.00 and...... look what she did after that(weekley chart).

Althought we have a PB on dji chart,I do have some concern about ,it was made on friday so is more artificial induced,people tend to take...
i would like to see 82 ... not sure if we would make it back there though
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Simplicity is the key to success
Quoting Ebont74
Hi ALL,

I just wanted to get some thoughts on this action on the DOW chart.

Nice PB
Swing low
Round number.

Opened and closed just above 10000.

I know that we cannot trade this index, but it sure may help to know what the US markets may do in the coming days or so.
The pinbar/hammer touched and bounced off of a reasonably solid weekly ppz, so the location looks pretty good. I've attached a chart and indicated the trouble areas that I would be looking at if I'd trade this setup. My first area of trouble is pretty nearby, so I'd definitely move my stop to B/E if the dow would be closing in on that area.

Boy

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It's not about how much you make, it's about how much you don't lose.
Quoting squeezy
i would like to see 82 ... not sure if we would make it back there though
interesting .....
now wld it play out, only one way to find out
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Simplicity is the key to success
Please check the 3 pinbars I've found for next week trading.
Your comments are welcome.
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Quoting ts63
Please check the 3 pinbars I've found for next week trading.
Your comments are welcome.
I'm only going to comment on the Gold chart, and then I'm gonna do weekend stuff.

I've attached two charts. If you'd consider going long on gold, I'd place my buy stop above the orange highlighted area, which in my view is the first area of trouble. If it gets triggered above the orange area, that should now act as support and improve your odds of success.

Second chart is the weekly gold chart. Have a look at the yellow weekly candle. It's not the best example, but it could be called a bearish outside candle. Of course you're looking at a pin on the daily chart, not weekly, but keep in mind that the current trend might well be down. Now, if you'd get a pinbar on the daily in the blue highlighted area of the weekly chart, I'd be more willing to take the risk of going long, because that area has more confluence going for it than the pin of yesterday.

Good luck deciding.

Ciao

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It's not about how much you make, it's about how much you don't lose.
Just want to clarify something. Would you consider "locals" or self-employed traders at prop shops retail?? I'm still confused by this whole retail Vs professional debacle. I suppose that at the end of the day it comes down to size .... For instance James w2ould be a pro even though he trades from home!

Quoting triger88990
nope I heaven't mistyped anything

don't forget that whatever the direction of the price moves there is always someone else on the other boat

or maybe I haven't get the principles of price movements

wish you the best!!

PS: don't forget you are just a retail trader not an institutional one
Quoting ts63
Please check the 3 pinbars I've found for next week trading.
Your comments are welcome.
Hey ts63,

I will let you know my personal opinion on these setups. But of course, that's just me.

Gold - We want great bars at great locations. In this case, the bar is really good, but the location is bad. Look at my chart below - we have a well defined price flip just above our pin. This flip zone isn't giving me enough space to do something with my stop when price will hit it. It's like running into a wall. In addition to this, I would like to have some more confluence factors which will help this pin to "hold". The only real thing I have is a round number. Last thing - we have a big weekly BEOB.
On the other hand, if you decide to take this trade anyway, you can expect our purple PPZ to hold as support and protect your entry once price broke through.

GBPJPY - Again, the bar is nice, but the location is bad. first trouble area is 10 pips away - a big round number 140.00 plus recent bar lows. This pin is again too close to our first trouble area. In addition, I would point out the sharp fall down and lack of confluence factors. Trading it would be trying to catch a falling knife with nothing underneath to catch it.

GBPUSD - Between all the three, this pin would have the best location imo, but still not good enough. The first trouble area is more minor, and less strong imo. But again, no confluence factors giving any strength to this bar to hold after the huge and sharp move down.


Remember that although PA is a powerful thing, the location is even more important in most cases.
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Quoting squeezy
interesting .....
now wld it play out, only one way to find out
Personally, I'd be looking for a good fast break on this and getting to break even asap...no way would I take a full bar loss on this bar a) because it was formed late on fridayand b) the recent move down has been sharp - therefore I would conclude that this bar was formed due to sellers taking profit rather than new buyers coming in...thus a hard fast break on the open would be what I would be looking for.

Just my view of course.
Quoting lovejoy80
Personally, I'd be looking for a good fast break on this and getting to break even asap...no way would I take a full bar loss on this bar a) because it was formed late on fridayand b) the recent move down has been sharp - therefore I would conclude that this bar was formed due to sellers taking profit rather than new buyers coming in...thus a hard fast break on the open would be what I would be looking for.

Just my view of course.
hey lovejoy
not playing it either....
not enough room to move before 1st road block, it occured on a friday
mondays are usual slow as we all know..... im keeping an eye on it for a possible pullback play if it gets there...also a heads up for the crosses
cheers
Simplicity is the key to success
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