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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

  • #140,781
  • Jun 23, 2017 9:57am Jun 23, 2017 9:57am
Quoting Gas
I sell EURUSD H1 {image}
Hi Gas. Didn't you notice that it was counter trend action. Most times counter trend trades fail! MARKET MAKERS DO IT ON PURPOSE. BECAUSE THEY KNOW THAT MOST UNEXPERIENCED TRADERS TRADE BAR FORMATIONS. THAT'S WHY THEY FORM COUNTER TREND PBs OR BEOB/BUOBs IN HORIZONTAL LINES...
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profitable trading does not mean trading everyday
  • #140,782
  • Jun 25, 2017 7:01am Jun 25, 2017 7:01am
EURGBP Daily chart.

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  • #140,783
  • Jun 25, 2017 12:36pm Jun 25, 2017 12:36pm
Kind time of day, all...
EURGBP - pin bar from EMA8, on H4 - internal bar, input on rollback by bye
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  • #140,784
  • Jun 25, 2017 6:16pm Jun 25, 2017 6:16pm
GBP/USD shows PB on the weekly. The trend is up. Is it a nice setup to go long???
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profitable trading does not mean trading everyday
  • #140,785
  • Jun 25, 2017 7:34pm Jun 25, 2017 7:34pm
Quoting richadi36
GBP/USD shows PB on the weekly. The trend is up. Is it a nice setup to go long???{image}
Hey Rich,that's actually a doji,not a PB could go either way.
  • #140,786
  • Jun 26, 2017 3:29pm Jun 26, 2017 3:29pm
UJ Quick trade off R. Now looking for a retest.
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  • #140,787
  • Jun 27, 2017 8:52am Jun 27, 2017 8:52am
Quoting richadi36
{quote} Last week I commented about BUOB on AUD/JPY. In my observation on the charts, JPY may weaken this week. Here's why... Comments welcome. {image}{image}{image}{image}
My anticipations are coming true about weakening of JPY...
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profitable trading does not mean trading everyday
  • #140,788
  • Jun 27, 2017 8:58am Jun 27, 2017 8:58am
I have been waiting for 3 weeks to get hit my profit target. Now it is getting closer. PATIENCE is a key element in trading. Entry was after BUOB.
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profitable trading does not mean trading everyday
  • #140,789
  • Jun 27, 2017 2:35pm Jun 27, 2017 2:35pm
Quoting richadi36
I have been waiting for 3 weeks to get hit my profit target. Now it is getting closer. PATIENCE is a key element in trading. Entry was after BUOB.{image}
Hey Rich,nice call.Two Qs,1 Why haven't you moved the s/l up,2 why haven't you added to the trade?
  • #140,790
  • Jun 27, 2017 6:19pm Jun 27, 2017 6:19pm
Quoting mallee
{quote} Hey Rich,nice call.Two Qs,1 Why haven't you moved the s/l up,2 why haven't you added to the trade?
Hi Mallee, thanks for the comments and questions. In my experience, if I moved sl up or down or put to breakeven, it hit many times and went to my direction again. That's why I added to my trading algorithm not to touch after enrty (most timies). How about adding positions, I would add in the swings based on the trend direction. In this case there was no reason...
profitable trading does not mean trading everyday
  • #140,791
  • Jun 29, 2017 6:37am Jun 29, 2017 6:37am
Quoting Ryanmcd
{quote} Yep it never stops, I fed'em for years years ago lol The key is to stick with it and not let the emotions blow you up, win or lose if you feel any different you are not in control.
Blast from the past -looking at old posts and came across Ryanmcd. Enjoyed his input. I wonder what happened to him ?
every Saint has a past. Every Sinner has a Future
  • #140,792
  • Jul 1, 2017 1:04am Jul 1, 2017 1:04am
Quoting Maklla
{image}
tp1 hit
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  • #140,793
  • Jul 1, 2017 7:41am Jul 1, 2017 7:41am
Trading Plan


http://www.forexbillions.com/2017/07...trading-goals/
  • #140,794
  • Jul 2, 2017 7:35am Jul 2, 2017 7:35am
Quoting richadi36
GBP/USD shows PB on the weekly. The trend is up. Is it a nice setup to go long???{image}
GBP/USD PB showed its move in line with the predefined trend.
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profitable trading does not mean trading everyday
  • #140,795
  • Jul 2, 2017 7:40am Jul 2, 2017 7:40am
I could catch gbp/jpy on the weekly.
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any ideas about these setups?...
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profitable trading does not mean trading everyday
  • #140,796
  • Jul 3, 2017 2:37am Jul 3, 2017 2:37am
Sometimes it's just too easy.
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  • #140,797
  • Edited 10:02am Jul 7, 2017 4:50am | Edited 10:02am
EJ

Yesterday we had a Bullish OB (marked with the yellow arrow) the bar retraced to the Low of the current week/128 RN and engulfed the whole weekly range, a buy stop above the candle worked fine and the price stalled right at the 130 BRN.

P.S. On the H4/H1 we can clearly see a breakout/retrace scenario at the rising trendline.

Perfect trend play in my opinion.

NFP in 30m minutes just in case.

Have a good weekend everyone.
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  • #140,798
  • Jul 9, 2017 9:29am Jul 9, 2017 9:29am
Kiwi wants to revert from key resistance?...
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profitable trading does not mean trading everyday
  • #140,799
  • Edited 2:59pm Jul 9, 2017 1:07pm | Edited 2:59pm
SP

This one worked well, the cons was that this was the 3rd touch of the weekly lvl, so a bit risky. I prefer the first or the second one, also the NFP was around.

Altogether the Price Action was saying UP. You could play this one by placing a buy stop above the IB.

Indicator stuff

Better get rid of them or use 1-2 of them wisely. They all tell the same story.

George
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  • #140,800
  • Jul 10, 2017 6:49am Jul 10, 2017 6:49am
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Patience is essential
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