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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 stark1
I'm no expert, but I prefer the 1.02 area. Lots of resistance, then breaks through and turns into support.


sounds reasonable to me.

jonas
Hero calls followed by margin calls...
Quoting PhAnTi'


sounds reasonable to me.

jonas
When the going gets weird, the weird turn pro.
Hi guys i m still confused if Fta IS SO IMPORTANT while considering set ups ???

i think i m missing gr88 set ups this is third time so very curious to knw more abt it ? .

comments appreciated

regards,
kunal.
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Quoting fx trader-
Hi guys i m still confused if Fta IS SO IMPORTANT while considering set ups ???

i think i m missing gr88 set ups this is third time so very curious to knw more abt it ? .

comments appreciated

regards,
kunal.
In my inexpert opinion, the FTA is very important, yes. It's the only place that a pinbar can be 'counted on' to push price to - anything more than that is a bonus.

That doesn't mean that price will always stop at the FTA, it just means it's the first area where price may reverse. The good news is that if price pushes through, as in your example, you have a new area of S/R to move your stop to. Make sense? I'm sure Mike could explain it a million times better...
When the going gets weird, the weird turn pro.
Quoting fx trader-
Hi guys i m still confused if Fta IS SO IMPORTANT while considering set ups ???

i think i m missing gr88 set ups this is third time so very curious to knw more abt it ? .

comments appreciated

regards,
kunal.
Hi fx trader,
I believe the point is that one needs to be aware of, and to account for, the FTAs in one's MM. If the potential R:R is very unfavourable, then one, might not take the trade - might! If its allows some PiPs, than another person may take the trade with a contingency plan to take action (TP and set SL to break even, TP in total, or manage the reduction in momentum with the assumption that one will TP if there are signs of reversal, or go with it if it breaks through). Its really a signpost that momentum will be challenged.

Hope that helps and maybe more learned colleagues will add.

Btw thats a cool indicator, looks to be showing divergences - any chance you could make it available?
Many thanks
Quoting stark1
In my inexpert opinion, the FTA is very important, yes. It's the only place that a pinbar can be 'counted on' to push price to - anything more than that is a bonus.

That doesn't mean that price will always stop at the FTA, it just means it's the first area where price may reverse. The good news is that if price pushes through, as in your example, you have a new area of S/R to move your stop to. Make sense? I'm sure Mike could explain it a million times better...
Thanks for your reply buddy

Agree to what u say and i m pretty clear with what FTA is . My doubt is shud FTA be a reason not to enter a trade if its closer , even if the set up is good :?

Because the snr's and strong areas will always be there on the chart some are recent so u can see them some are older ones which u might find on higher TF charts or after scrolling behind ? so i still could nt find a solid reason y to leave good set ups ? somethings still not convincing me?

regards,
kunal
[quote=fx trader-;4849547]
Quote
Thanks for your reply buddy

Agree to what u say and i m pretty clear with what FTA is . My doubt is shud FTA be a reason not to enter a trade if its closer , even if the set up is good :?

Because the snr's and strong areas will always be there on the chart some are recent so u can see them some are older ones which u might find on higher TF charts or after scrolling behind ? so i still could nt find a solid reason y to leave good set ups ? somethings still not convincing me?

regards,
kunal
Hi fx trader.
The FTA is the first S/R level what the price mets in its evolution.More S/R levels the price will have to "fight" more difficult it will be for the price to go ahead.
The FTA as all the rest of the levels are even the levels where the traders make money management(MM),...so... closer the FTA=faster you will have to move to make MM.
Nothing personal,just business
Let's see how the price will react at monthly resistence.
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Nothing personal,just business
[quote=alicimo;4849543]Hi fx trader,
I believe the point is that one needs to be aware of, and to account for, the FTAs in one's MM. If the potential R:R is very unfavourable, then one, might not take the trade - might! If its allows some PiPs, than another person may take the trade with a contingency plan to take action (TP and set SL to break even, TP in total, or manage the reduction in momentum with the assumption that one will TP if there are signs of reversal, or go with it if it breaks through). Its really a signpost that momentum will be challenged.

Hope that helps and maybe more learned colleagues will add.

Btw thats a cool indicator, looks to be showing divergences - any chance you could make it available?

HI i understand ur take with the MM technique and have tried to take it in many other ways but still wanted to take the seniors views what they think on this

i have attached the rsi divergence indi ( make sure ur nt completely dependent as it doesn't show longer div some times)
Attached File(s)
File Type: ex4 RSI_Divergence_v2.ex4   12 KB | 359 downloads
Quoting fx trader-
Thanks for your reply buddy

Agree to what u say and i m pretty clear with what FTA is . My doubt is shud FTA be a reason not to enter a trade if its closer , even if the set up is good :?

Because the snr's and strong areas will always be there on the chart some are recent so u can see them some are older ones which u might find on higher TF charts or after scrolling behind ? so i still could nt find a solid reason y to leave good set ups ? somethings still not convincing me?

regards,
kunal
Misunderstood you, sorry my friend. All I can offer is what I've gotten from Jim's teachings. I've not heard him ever say that he would skip a trade because the FTA is too close. I guess it comes back to time frame and account size, and how many pips that small distance represents. Jim's also said in numerous videos that he doesn't pay too much heed to R:R.

Uh, that all sounded a lot more helpful in my head...
When the going gets weird, the weird turn pro.
Quoting stark1
In my inexpert opinion, the FTA is very important, yes. It's the only place that a pinbar can be 'counted on' to push price to - anything more than that is a bonus.

That doesn't mean that price will always stop at the FTA, it just means it's the first area where price may reverse. The good news is that if price pushes through, as in your example, you have a new area of S/R to move your stop to. Make sense? I'm sure Mike could explain it a million times better...
Hey Stark

This is very well said.

There are times when a FTA will keep me out of a trade, times when a FTA makes me sit up and do "something". Time when I ignore a FTA. The understanding for me is that a FTA is just that, a first trouble area.

Best
Mike
Quoting mbqb11
Hey Stark

This is very well said...
Thanks Mike, I'm tryin'
When the going gets weird, the weird turn pro.
hi guys, i just got skype today, if anyone fancys a chat about trading, or potential setups etc give me a pm
possible pin on H4 eur/cad at good lvl. - 1.4; same on eur/aud

sorry, no chart, the game I'm currently playing insists on crashing my mt4.
Quoting snowly
possible pin on H4 eur/cad at good lvl. - 1.4; same on eur/aud

sorry, no chart, the game I'm currently playing insists on crashing my mt4.
lol^^
Hero calls followed by margin calls...
Quoting PhAnTi'
lol^^
i dont see the pinbars, on my 4 hr, which broker u using for charting?
Quoting deankenny21
i dont see the pinbars, on my 4 hr, which broker u using for charting?
avafx
Hero calls followed by margin calls...
I see this

that being said, "TT" with long cad/aud/nzd would be... very bold nowdays, I'd dare say. Especially against jpy/chf.

s&p -4%, BoA in deep $hit, greece banning shorts today... still interesting times me thinks

sure, the ecb promised it'll solve euro; but it's only the... 100th time they promised that?

p.s. - gotta love posting a possible setup and then missing it... Man I'm pissed
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i cant find any good setup now that the market is abit chaotic
[quote=Philodox;4850797]
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i cant find any good setup now that the market is abit chaotic
The patience is the way to positive results !
Nothing personal,just business
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