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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

  • #141,481
  • Jan 29, 2018 4:13am Jan 29, 2018 4:13am
Quoting sirovai
{quote} thank you mallee. I have some problems with the "traffic" concept.
Try the free indicator here, show how much "space" eg. no traffic to the left

https://www.forexfactory.com/showthread.php?t=707057
It takes a lot for me to IGNORE you, but you can try.
  • #141,482
  • Jan 29, 2018 4:45pm Jan 29, 2018 4:45pm
Quoting mattymo
{quote} Hey mallee, don't we usually want to take PA at support/resistance? I'm guessing you are referring to the BUOB getting reversed but seems it didn't have much support going for it...
Sorry mate I've been busy moving sheep the last few days,50C farking hot.Anyways,Ididn't believe the previous BUEOB,about 3-4 ADR so I entered following the small pb for a retrace trade. Cheers
  • #141,483
  • Jan 29, 2018 5:04pm Jan 29, 2018 5:04pm
Quoting sirovai
{quote} thank you mallee. I have some problems with the "traffic" concept.
Keep an eye on it Sirovai,I'm looking for pa.to go short NC myself .
  • #141,484
  • Jan 30, 2018 2:53am Jan 30, 2018 2:53am
Quoting mallee
{quote} Keep an eye on it Sirovai,I'm looking for pa.to go short NC myself .
don't know. NC is long. I want to see something like this to go short, a flip between... FTA?
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  • #141,485
  • Jan 30, 2018 3:11am Jan 30, 2018 3:11am
Im also looking for a trade with the USDCAD.
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  • #141,486
  • Jan 30, 2018 3:18am Jan 30, 2018 3:18am
Is this a falling wedge?
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  • #141,487
  • Edited 10:26am Jan 30, 2018 4:23am | Edited 10:26am
At least...I bought this PB on the EURCHF.
In one account i put a 2:1 fixed R:R. On the other i'll try to manage the trade.
EDIT: moved stop to BE on the "conservative" account
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  • #141,488
  • Jan 31, 2018 7:02am Jan 31, 2018 7:02am
Hi guys, i closed all the positions on the EURCHF..
Now im in this trade. I went long on the 50% retrace on GBPCHF.
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  • #141,489
  • Jan 31, 2018 11:00am Jan 31, 2018 11:00am
Quoting mallee
{quote} Sorry mate I've been busy moving sheep the last few days,50C farking hot.Anyways,Ididn't believe the previous BUEOB,about 3-4 ADR so I entered following the small pb for a retrace trade. Cheers
Wow, that's even hotter than summers where I am at in Phoenix, Arizona. Where are you located?
  • #141,490
  • Jan 31, 2018 11:03am Jan 31, 2018 11:03am
Quoting sirovai
Hi guys, i closed all the positions on the EURCHF.. Now im in this trade. I went long on the 50% retrace on GBPCHF. {image}
Hey siro, did you close out EURCHF for profit? To me that pinbar along with the GBPCHF pin looked more like neutral bars as the noses were pretty long. Also, don't we want to see the close of the body of the pin above the BRN in order to use it as support? Doesn't look like that did this here...

I'm just getting back into price action after a very long break so trying to learn as much as I can. Happy trading.
  • #141,491
  • Jan 31, 2018 2:10pm Jan 31, 2018 2:10pm
EUR/ZAR H4 box

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  • #141,492
  • Edited 2:34am Feb 1, 2018 1:30am | Edited 2:34am
Quoting mattymo
{quote} Hey siro, did you close out EURCHF for profit? To me that pinbar along with the GBPCHF pin looked more like neutral bars as the noses were pretty long. Also, don't we want to see the close of the body of the pin above the BRN in order to use it as support? Doesn't look like that did this here... I'm just getting back into price action after a very long break so trying to learn as much as I can. Happy trading.
I closed EURCHF because the body of the PB was red, also the localization was not clear...
For GBCHF i dont agree with you mattymo... i'm letting run the trade. That PB seems ok
EDIT:
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This is also why i close my trade on EURCHF, there is an emerging down trendline. Im waiting for PA at 1.17 to sell
  • #141,493
  • Feb 1, 2018 4:41am Feb 1, 2018 4:41am
Quoting mattymo
{quote} Wow, that's even hotter than summers where I am at in Phoenix, Arizona. Where are you located?
SW New South Wales Oz.
  • #141,494
  • Feb 1, 2018 4:48am Feb 1, 2018 4:48am
Quoting florinellz
EUR/ZAR H4 box {image}
Florinellz,mate do you make any money trading those exotics?
  • #141,495
  • Feb 1, 2018 5:25am Feb 1, 2018 5:25am
AUDUSD.Oz getting belted across the board
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atm.
  • #141,496
  • Edited 2:49am Feb 2, 2018 2:38am | Edited 2:49am
Quoting sirovai
{quote} For GBCHF i dont agree with you mattymo... i'm letting run the trade. That PB seems ok
This trade performed well an reache 1:1 target and 2:1 target. Waiting for the 3:1...

Starting from this trade i've made an excel to analyze every trade. I divided it into 3 sheet:

  1. the first to estimate the return with a fixed 1:1 R:R
  2. the second to estimate the return with a fixed 2:1 R:R
  3. the third is to letting run the trade as mucch as possibile. Once reached the 1:1 i will move my stop to BE - once reached the 2:1 i'll move SL to 1:1 - once reached the 3:1 i'll move SL to 2:1 and so on...

Im going to do this for 3 months and see if i am profitable and which one is the best way to trade for me.
What do you guys think about? Am i waisting time on things for wich there is just an answer?

  • #141,497
  • Feb 2, 2018 3:33am Feb 2, 2018 3:33am
Quoting sirovai
{quote} This trade performed well an reache 1:1 target and 2:1 target. Waiting for the 3:1... Starting from this trade i've made an excel to analyze every trade. I divided it into 3 sheet: the first to estimate the return with a fixed 1:1 R:R the second to estimate the return with a fixed 2:1 R:R the third is to letting run the trade as mucch as possibile. Once reached the 1:1 i will move my stop to BE - once reached the 2:1 i'll move SL to 1:1 - once reached the 3:1 i'll move SL to 2:1 and so on... Im going to do this for 3 months and see if i...
No,you're not wasting your time,itwill give you discipline which is critical in this game and give you multiple hours of screen time.The weakness as I see it,is that market conditions change,the J16 method works best in stable markets.With the volatility atm your spreadsheet is likely to give you a different result compared to a 3 months period in 2016. Cheers Al
  • #141,498
  • Feb 2, 2018 3:55am Feb 2, 2018 3:55am
Quoting mallee
{quote} No,you're not wasting your time,itwill give you discipline which is critical in this game and give you multiple hours of screen time.The weakness as I see it,is that market conditions change,the J16 method works best in stable markets.With the volatility atm your spreadsheet is likely to give you a different result compared to a 3 months period in 2016. Cheers Al
Thank you mallee. Maybe this kind of spreadsheets are always useful to adjust our trading method.
  • #141,499
  • Feb 2, 2018 10:15am Feb 2, 2018 10:15am
Quoting mallee
{quote} Florinellz,mate do you make any money trading those exotics?

Mallee if the setup is good i can make money with exotics. PA work the same at majors, minors and exotics;
Here is another exotic that i'm watching now USD/SEK

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  • #141,500
  • Feb 2, 2018 2:33pm Feb 2, 2018 2:33pm
Lol Dow down 500pts so everyone buys USD
AU
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