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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

  • #15,201
  • Edited 12:34pm Nov 11, 2008 12:23pm | Edited 12:34pm
Quoting Greenhaze
It's my first day live on second account and You are right , I need to overcome fear but on the other hand i dont want to risk being stopped out only becouse i wasnt at the computer. I like to watch the trade and what is happening on lower tfs. I need to find this right balance and start using more alarms instead being glued to the monitor.

Youre pretty much on the right path, your mind's thinking well, and i assure you time and experience will find a way out for you to get your emotions synchronized with this professional trading methodology. it's a long and slow process though, so all i can suggest to you is to hang around in there and trust your wits, I am doing the same...

All the best!

Regards,
Ghous.
I believe . . .
  • #15,202
  • Edited 12:36pm Nov 11, 2008 12:26pm | Edited 12:36pm
[quote=simoncs;2341270]
Quoting ghous
Just when i thought this was going to be difficult, Monday close brings about an opportunity.

Things setting up nicely o the Eur/Chf:

thanks ghous for the heads up - turning out nicely. This is essentially my first trade on daily pin, so not a bad place to start.
maybe i can be converted after all
Glad it worked out for you! According to Jim 3 to 5 setups like these in a month is all what a sensible daily trader is looking at to bet his pips on, taking only the perfect setups and fewer trades altogather is what will change you and your account into something you always dreamt off!

Regards,
Ghous.
I believe . . .
  • #15,203
  • Nov 11, 2008 12:31pm Nov 11, 2008 12:31pm
End of consolidation
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  • #15,204
  • Nov 11, 2008 12:33pm Nov 11, 2008 12:33pm
Quoting Greenhaze
Anybody go that today?. Entered @ pb break but then scared by some drawdown and closed @ be. Bad trade management :/
I just noticed BTW that the pin faced a retracment of exactly 61.8 Fib ret before it got activated and price hrried down, Abstract Art is'nt it!!
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I believe . . .
  • #15,205
  • Nov 11, 2008 12:52pm Nov 11, 2008 12:52pm
Quoting ghous
I just noticed BTW that the pin faced a retracment of exactly 61.8 Fib ret before it got activated and price hrried down, Abstract Art is'nt it!!
Ahhh...missed that. Did you ever thought that sometimes market gets in this kind of rhythm (People act rational) when everything is loud & clear just to fall back to more chaotic,unharmonic periods later (People panic). The trick for me is to see this change sooner then the rest.
  • #15,206
  • Nov 11, 2008 2:28pm Nov 11, 2008 2:28pm
Quoting Ryanmcd
You need to watch out on these, I used to trade this type of setup and it's damn hard, look at days that go down or up all day, they post divergence after divergence and you will be wrong on everyone. The key to these is take them in a FLAT market.
Shreem, this if "off-(J16)track", but read about Bollinger Bands. When the price closes outside an outer band and the next swing comes inside the band, AND there is RSI divergence (swing to swing), it's a pretty strong setup.
One Chart is Worth Ten Thousand Words.
  • #15,207
  • Nov 11, 2008 2:36pm Nov 11, 2008 2:36pm
Quoting Ryanmcd
Hope everyone that plays the 5min got that 1 pb short, that's I have seen been kinda slow.
Ryan, why don't you have BB, MA and RSI on your Oanda chart?
One Chart is Worth Ten Thousand Words.
  • #15,208
  • Nov 11, 2008 2:42pm Nov 11, 2008 2:42pm
Quoting Forex007
Ryan, why don't you have BB, MA and RSI on your Oanda chart?
I use 3 different computers, with Oanda I just use price the others use FXPro and have them. Just keeps it easier to see the stops and such.
Keep taking CT trades, I need more money
  • #15,209
  • Nov 11, 2008 3:05pm Nov 11, 2008 3:05pm
someone riding along with me?
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  • #15,210
  • Nov 11, 2008 3:12pm Nov 11, 2008 3:12pm
Quoting ezz
someone riding along with me?
I'm riding south from the weekly pin I saw at the end of last week.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #15,211
  • Nov 11, 2008 4:02pm Nov 11, 2008 4:02pm
Quoting jarroo
Update: Looking good.
I took half off at 1.4892 other half at break even. Looking to move my stop loss to above 1.4940 (developing PPZ).
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Indicators show the past. Price Action "Indicates" the future.
  • #15,212
  • Nov 11, 2008 4:34pm Nov 11, 2008 4:34pm
Quoting jarroo
I took half off at 1.4892 other half at break even. Looking to move my stop loss to above 1.4940 (developing PPZ).

Stop @ cost, target for me is 1.44
Keep taking CT trades, I need more money
  • #15,213
  • Nov 11, 2008 4:43pm Nov 11, 2008 4:43pm
Quoting ezz
someone riding along with me?

Good trend, lots of traffic. You should be okay but I am going to pass on this one
Keep taking CT trades, I need more money
  • #15,214
  • Nov 11, 2008 6:16pm Nov 11, 2008 6:16pm
Quoting james16
chart
Hi ya,

I was wondering if we could go back to this post by Jim please..

Sorry for this but i am only just starting to learn PB now so please don't flame me! ..

Where Jim has put the arrow for that move just before it there are alot of OB and a couple of IB..
How do you work out which one was the one to take? or is it just a matter of watching congestion and also which way the move goes after the IB or OB is created?

Sorry if obvious answer but I have been trying the IB OB PB and I'm getting hurt and now totally getting confused about what I'm doing wrong..
Could some one help please?

Adrian
  • #15,215
  • Nov 11, 2008 6:18pm Nov 11, 2008 6:18pm
Quoting aarangio
Hi ya,

I was wondering if we could go back to this post by Jim please..

Sorry for this but i am only just starting to learn PB now so please don't flame me! ..

Where Jim has put the arrow for that move just before it there are alot of OB and a couple of IB..
How do you work out which one was the one to take? or is it just a matter of watching congestion and also which way the move goes after the IB or OB is created?

Sorry if obvious answer but I have been trying the IB OB PB and I'm getting hurt and now totally getting confused about...

Hey Adrian, what post number I will take a look for you

Mike
  • #15,216
  • Nov 11, 2008 6:23pm Nov 11, 2008 6:23pm
Quoting aarangio
Hi ya,

I was wondering if we could go back to this post by Jim please..

Sorry for this but i am only just starting to learn PB now so please don't flame me! ..

Where Jim has put the arrow for that move just before it there are alot of OB and a couple of IB..
How do you work out which one was the one to take? or is it just a matter of watching congestion and also which way the move goes after the IB or OB is created?

Sorry if obvious answer but I have been trying the IB OB PB and I'm getting hurt and now totally getting confused about what I'm doing wrong..
Could some one help please?

Adrian
Can you post charts Adrian?
Indicators show the past. Price Action "Indicates" the future.
  • #15,217
  • Nov 11, 2008 7:13pm Nov 11, 2008 7:13pm
Quoting aarangio
Hi ya,

I was wondering if we could go back to this post by Jim please..

Sorry for this but i am only just starting to learn PB now so please don't flame me! ..

Where Jim has put the arrow for that move just before it there are alot of OB and a couple of IB..
How do you work out which one was the one to take? or is it just a matter of watching congestion and also which way the move goes after the IB or OB is created?

Sorry if obvious answer but I have been trying the IB OB PB and I'm getting hurt and now totally getting confused about...
'
Hey Adrian,

Nevermind Bundy showed me how to pull up the chart with that little arrow I didn't know that! thanks bundy

On the chart James posted there are no other good OBs at a swing high there. If you could post a chart with markings of which you are reffering to that would definitley help. IMO insidebars are the last of the price bars a trader should learn. They are IMO the most difficult to trade correctly. Of course this is just from my experience. OBs, are like pinbars in that you want to see them at swing highs. The OB isn't at a perfect swing high but still playable depending on the trader. Again if you took this trade, the first area to watch out for would have been the blue line on my chart. After that it was a free fall and you could have just trailed above each high and made a killing. Also supporting this BEOB was divergence. the BEOB was the first real good signal to short using divergence. you could have shorted the IB marked with the red arrow, but IMO that would be super agressive.

Hope that helps a bit

Mike
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  • #15,218
  • Nov 11, 2008 7:31pm Nov 11, 2008 7:31pm
Quoting mbqb11
'
Hey Adrian,

Nevermind Bundy showed me how to pull up the chart with that little arrow I didn't know that! thanks bundy

On the chart James posted there are no other good OBs at a swing high there. If you could post a chart with markings of which you are reffering to that would definitley help. IMO insidebars are the last of the price bars a trader should learn. They are IMO the most difficult to trade correctly. Of course this is just from my experience. OBs, are like pinbars in that you want to see them at swing highs. The OB isn't at a perfect swing high but still playable depending on the trader. Again if you took this trade, the first area to watch out for would have been the blue line...
Nicely said and done Mike. (as always)


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #15,219
  • Nov 11, 2008 7:37pm Nov 11, 2008 7:37pm
Quoting Ryanmcd
Okay my day, stopped for -9 then took +18 so +1% on the day, Missed the good trade as always. Not as many good ones as in the past but it happens. Not going to be mad at making money.
nice In Flames
Hindsight is 20/20
  • #15,220
  • Nov 12, 2008 1:38am Nov 12, 2008 1:38am
Here's a 5 minute trade I just took. BUOB, not touching the middle BB or EMA but still looked pretty good to me.
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