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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

  • #15,361
  • Nov 14, 2008 2:10pm Nov 14, 2008 2:10pm
Quoting raczekfx
I hate scalping, but may have no choice for some time....

Closed e/u and g/u last night at 18:43PM EST. Reason: past experience
Market is still wild and I was anticipating a pullback in asia after US sesion excitement.
Reopened following trades on pullback at 9:30AM EST:
g/j 142.255
g/chf 1.7553
e/u 1.2670
g/u 1.4757
Nice! Picked up some more SP here. Would have been nice to get more gold too.

edit: Don't know what happened to my E/J order though.
Bundy's status today: "Waiting..."
  • #15,362
  • Nov 14, 2008 2:21pm Nov 14, 2008 2:21pm
Quoting bundyraider
edit: Don't know what happened to my E/J order though.
Bundy you frikken idiot!!

13 pip profit.

2 positions . One was supposed to have TP at 129.85 the other left open ended. I set both to 121.85!!!!

Thirteen bloody pips after the limit buy!!!

Good one Bundy... ...Now go back to bed.
Bundy's status today: "Waiting..."
  • #15,363
  • Nov 14, 2008 3:19pm Nov 14, 2008 3:19pm
Quoting bundyraider
Bundy you frikken idiot!!

13 pip profit.

2 positions . One was supposed to have TP at 129.85 the other left open ended. I set both to 121.85!!!!

Thirteen bloody pips after the limit buy!!!

Good one Bundy... ...Now go back to bed.
That's ok. At least you got some profit. I've had times were I hit the wrong button and was in a loss for some big money.
Humble Lifetime Member
  • #15,364
  • Nov 14, 2008 3:20pm Nov 14, 2008 3:20pm
Quoting Swami S
Was with you on eu identical entry, just got shaken out darn it. How are yours doing? guessing you took some profit off the table. Nice spread of entries dude.
I needed to take kids to a doc at 2, but moved my stops to be + some before that.
tp for g/j at 146.10 (missed it by few pips)
tp for G/Chf at 177.50 (missed)
tp for G/U at 1.4940 hit
fiber stopped out at BE
  • #15,365
  • Nov 14, 2008 5:29pm Nov 14, 2008 5:29pm
Quoting mbqb11
personally I cancel all orders that don't trigger on the next bar daily included(rare exceptions)

Have a great weekend

Mike
Thanks Mike!

I can't wait to get caught up enough with my life to join the PF. I learn a lot here, but the main reason I don't join is lack of time to put it to use.

I loved your video on the preview part.
  • #15,366
  • Nov 14, 2008 5:58pm Nov 14, 2008 5:58pm
Quoting mbqb11
personally I cancel all orders that don't trigger on the next bar daily included(rare exceptions)

Have a great weekend

Mike
After all even if it breaks, you could enter on retrace.
In front of a massive move it actually doesn't matter if you don't catch those couple of pips.... I think taht it's all about greedy.
  • #15,367
  • Nov 14, 2008 6:19pm Nov 14, 2008 6:19pm
Intersection of two trendlines providing strong resistance above the BUOB.

Break of the inside bar would also be a break of the trendline if it breaks long.

I am only taking shorts on this ccy pair though as per my rules while trend is down.

My price action trading has definitely improved as of late through only trading with the trend.
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  • #15,368
  • Nov 14, 2008 10:09pm Nov 14, 2008 10:09pm
Quoting Almfx
GBP/JPY is developing possible PIN with long nose bouncing off the confluence of PPZ and 61.2 ret. on 4hr TF with InterbankFX feed.

Hope the pin bar closes in order to pass the J16 PA Laws

Any comments appreciated!!
Got in at buffer 12pip GJ 4H at 1.4460
Setting up TP at 1.4600 at the confluence of past support trendline (now resistant) and previous resistance level with SL at just below 61.2 ret. TP got hit before week close, profited 140 pips.

have a great weekend guys

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #15,369
  • Nov 14, 2008 11:08pm Nov 14, 2008 11:08pm
Quoting Ash
That's ok. At least you got some profit. I've had times were I hit the wrong button and was in a loss for some big money.
I think we all have.

Been a while since I lost big because of "the nut behind the wheel" thankfully. lol
Bundy's status today: "Waiting..."
  • #15,370
  • Nov 17, 2008 5:40am Nov 17, 2008 5:40am
Hi Guys

Is anyone thinking of playing a break of the DBLHC on the Eu/Aud weekly chart? Trend is up and it may go back and test the previous highs. Anyone consider this a decent setup?

Any comments, good or bad, most welcome guys!

berti
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PA is where its at!!
  • #15,371
  • Nov 17, 2008 5:59am Nov 17, 2008 5:59am
Quoting bertie123
Hi Guys

Is anyone thinking of playing a break of the DBLHC on the Eu/Aud weekly chart? Trend is up and it may go back and test the previous highs. Anyone consider this a decent setup?

Any comments, good or bad, most welcome guys!

berti
Hey Bertie! from my point of view, it is DBLHC (bottom varying 2 pip) bouncing of the 50 ret. As jim use to say the PA from higher TF are more reliable. no other confluence except for bull trendline-like model. Would be nice to play on the break. This is just my opinion, but more experienced traders can have their say with some more tradeology. Thanks

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #15,372
  • Nov 17, 2008 6:12am Nov 17, 2008 6:12am
Hey Alm

Thanks for your response. Forgot to mention that the ret was just about right on the 50 fib. As it is on the weekly it may take some time to develop, if at all. We will have to wait and see. Will use a safe buffer for this one if it does break.

berti
PA is where its at!!
  • #15,373
  • Nov 17, 2008 6:14am Nov 17, 2008 6:14am
Quoting bertie123
Hi Guys

Is anyone thinking of playing a break of the DBLHC on the Eu/Aud weekly chart? Trend is up and it may go back and test the previous highs. Anyone consider this a decent setup?

Any comments, good or bad, most welcome guys!

berti
Hi bertie,

not an A+ setup for me, the main reason being the traffic.

The formation is quite valid and the shape looks good, the lows varying by only two pips on the weekly is just abt as good as it can get.

but again...

The fact is that these 1000 pages don't only consist of the few major price action patterns signals you see in your daily trading, the location is far far more important. Yes the DBLHC occurs with the overall trend and ona 50% ret, but looking at the recent vloatile ranging Eur/Aud has been in don't think it's a smart take or let's put it this way...it is'nt an A+ trade...

don't think i need to put in a chart here, just go through your daily and weekly chart and you'll know what i am poitning out at

Don't try to emphasise more on the need to be in a trade rather than working hard to pick the best ones. I totally agree that a blind james16 stuff trader will consider this money falling from the sky, the more serious traders will want to look at more then just the appearence of the DBLHC.

Regards,
Ghous.
I believe . . .
  • #15,374
  • Nov 17, 2008 6:24am Nov 17, 2008 6:24am
Hey Ghous,

Thanks for your comments man, I think they are spot on. Although it is a setup as per J16, I had a gut feeling it was not an A+ one. Good of you to offer your insight and it is replies from yourself and others that are helping me to learn this stuff. Please keep your comments coming.

cheers,

berti
PA is where its at!!
  • #15,375
  • Nov 17, 2008 7:09am Nov 17, 2008 7:09am
Quoting bertie123
Hey Ghous,

Thanks for your comments man, I think they are spot on. Although it is a setup as per J16, I had a gut feeling it was not an A+ one. Good of you to offer your insight and it is replies from yourself and others that are helping me to learn this stuff. Please keep your comments coming.

cheers,

berti

Congragulations for that gut feeling...
I believe . . .
  • #15,376
  • Nov 17, 2008 9:39am Nov 17, 2008 9:39am
.. a few of mine trades that triggered last night.

R
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  • #15,377
  • Nov 17, 2008 11:00am Nov 17, 2008 11:00am
Quoting raczekfx
.. a few of mine trades that triggered last night.

R
Good trades Raczek. Could i ask you how do you manage your sl?
  • #15,378
  • Nov 17, 2008 12:03pm Nov 17, 2008 12:03pm
Okay here is my day 1 trade 5min done. I also got a few PM's from others that took the same trade, GREAT JOB!
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Keep taking CT trades, I need more money
  • #15,379
  • Nov 17, 2008 12:36pm Nov 17, 2008 12:36pm
Keeping my eye on these 4hr trendlines, maybe there will be some PA to indicate a bounce and resume with the trend?
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  • #15,380
  • Nov 17, 2008 12:40pm Nov 17, 2008 12:40pm
I see you post quite here quite often Ryan, you seem to be quite successful and trading with a large account. What broker accepts these trades as I find I have problems with short term trade with large amounts with most Forex Brokers?
Would you be so bold to leave your account size in next chart so we can see what level you're at now? We will not be envious, it will give us motivation.
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