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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

  • #16,321
  • Dec 7, 2008 11:13pm Dec 7, 2008 11:13pm
Quoting jarroo
Like to see a break then act as support at the .6600 level (1st TP).
Target hit and then some.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #16,322
  • Dec 7, 2008 11:15pm Dec 7, 2008 11:15pm
Quoting jarroo
Target hit and then some.
Same with looney. .....KACHING!!!
Bundy's status today: "Waiting..."
  • #16,323
  • Dec 7, 2008 11:15pm Dec 7, 2008 11:15pm
Let me know guys if I'm going overboard on the thread. I do that sometimes.
Indicators show the past. Price Action "Indicates" the future.
  • #16,324
  • Dec 7, 2008 11:16pm Dec 7, 2008 11:16pm
Quoting jarroo
Let me know guys if I'm going overboard on the thread. I do that sometimes.
Hey man... you're going overboard.

Mr. Trend
  • #16,325
  • Edited Dec 8, 2008 1:01am Dec 7, 2008 11:20pm | Edited Dec 8, 2008 1:01am
Quoting Mr Trend
Hey man... you're going overboard.

Sorry Mr. T. I'll quit stating the obvious.
Indicators show the past. Price Action "Indicates" the future.
  • #16,326
  • Dec 7, 2008 11:27pm Dec 7, 2008 11:27pm
Quoting jarroo
Hey LVG. You have outlined the hourly PPZ very well and the PB you have indicated is off the hourly PPZ. The PB could have easily worked. Prive Action with supporting confluences is a powerful thing. But now you know why we for the break, it'll save you out of a lot of potenial losses. Trust me on that.

When trading on the hourly or any lower time frame it is crucial (imo) that we know the location of the Higher time frame S/R levels (PPZs). Because the is the heart of where Price Action and a high probability trade will meet.

Although the...
Still 30 minutes to go, but looks like a PIN forming at the 1.2848 Daily PPZ zone on the 1H.
Attached Image (click to enlarge)
Click to Enlarge Name: 2008-12-07-eu-h1-2.gif Size: 16 KB
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #16,327
  • Dec 7, 2008 11:32pm Dec 7, 2008 11:32pm
Quoting jarroo
Let me know guys if I'm going overboard on the thread. I do that sometimes.
Not at all man.
  • #16,328
  • Dec 7, 2008 11:38pm Dec 7, 2008 11:38pm
I'm with you there Jaroo...

I'm short loonie

3 lots....

Entry:1.2677
S/L: 1.3015

1st lot closed at 1.2580 for +97 pips

Stop loss on the remaining two lots moved to 1.2915

Aussie had too much chop and sideways travel for my liking and didn't satisfy my personal trade specs so I sat out
  • #16,329
  • Dec 7, 2008 11:40pm Dec 7, 2008 11:40pm
Great little trade ...

I don't post here so I probably shouldn't be butting in, just wanted to share since we were on the same page

happy trading


Quoting jarroo
Target hit and then some.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 13 KB
It's me...
  • #16,330
  • Dec 7, 2008 11:46pm Dec 7, 2008 11:46pm
Quoting LasVahGoose
Still 30 minutes to go, but looks like a PIN forming at the 1.2848 Daily PPZ zone on the 1H.
Nice LVG.

Just be aware of the higher time frames PA (4 hour, daily).
Indicators show the past. Price Action "Indicates" the future.
  • #16,331
  • Dec 7, 2008 11:49pm Dec 7, 2008 11:49pm
Quoting tehuringa
I'm with you there Jaroo...

I'm short loonie

3 lots....

Entry:1.2677
S/L: 1.3015

1st lot closed at 1.2580 for +97 pips

Stop loss on the remaining two lots moved to 1.2915

Aussie had too much chop and sideways travel for my liking and didn't satisfy my personal trade specs so I sat out
Nice tehuringa. This is how we roll.

Understandable with the Ozzie. I couldn't pass up an I15B.
Indicators show the past. Price Action "Indicates" the future.
  • #16,332
  • Dec 7, 2008 11:51pm Dec 7, 2008 11:51pm
Quoting jarroo
Nice LVG.

Just be aware of the higher time frames PA (4 hour, daily).
So much for that hourly PB LVG. lol
Indicators show the past. Price Action "Indicates" the future.
  • #16,333
  • Dec 7, 2008 11:52pm Dec 7, 2008 11:52pm
Quoting jarroo
Nice LVG.

Just be aware of the higher time frames PA (4 hour, daily).
I'm just looking the wrong direction. E/U and G/U have taken off like rocket ships.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #16,334
  • Dec 7, 2008 11:54pm Dec 7, 2008 11:54pm
Looney is hitting the 365 weekly support as we speak.
  • #16,335
  • Dec 7, 2008 11:56pm Dec 7, 2008 11:56pm
Quoting Icehocey77
Looney is hitting the 365 weekly support as we speak.
That's the Simple Moving Average. We use the Exponential Moving Average.

Still could act as Support. Thanks for the Heads up.
Indicators show the past. Price Action "Indicates" the future.
  • #16,336
  • Dec 7, 2008 11:59pm Dec 7, 2008 11:59pm
Quoting jarroo
So much for that hourly PB LVG. lol
I gotta shake off the G/U. I posted on the DIBS thread that is was a DIBS trade and then forgot about it. It's up 220+ pips. OMG.

I'm kicking myself, but oh well... There will be another trade. LOL At least I got the USD/CAD, plenty happy with that.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #16,337
  • Dec 8, 2008 12:05am Dec 8, 2008 12:05am
Quoting LasVahGoose
I gotta shake off the G/U. I posted on the DIBS thread that is was a DIBS trade and then forgot about it. It's up 220+ pips. OMG.

I'm kicking myself, but oh well... There will be another trade. LOL At least I got the USD/CAD, plenty happy with that.
Got to use alerts. I can't trade without them.

Try this one: (Thanks Forex007)
Attached File(s)
File Type: mq4 SR Alerts - AP v3.mq4   5 KB | 964 downloads
Indicators show the past. Price Action "Indicates" the future.
  • #16,338
  • Dec 8, 2008 12:12am Dec 8, 2008 12:12am
Quoting LasVahGoose
I'm just looking the wrong direction. E/U and G/U have taken off like rocket ships.
you are in the right direction LVG....
me too..... i'm follow the direction since friday ....

brgds,
my30marahaba
Attached Image (click to enlarge)
Click to Enlarge Name: eu&gu.JPG Size: 214 KB
  • #16,339
  • Dec 8, 2008 12:12am Dec 8, 2008 12:12am
Quoting jarroo
Got to use alerts. I can't trade without them.

Try this one: (Thanks Forex007)
Sweet. I'll check it out. I need to get organized, this is my 7th week trading and I'm just overwhelmed by everything that needs to be kept track of.

Thanks for looking out for your fellow trader.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #16,340
  • Dec 8, 2008 12:13am Dec 8, 2008 12:13am
Quoting jarroo
Clockwork nailed it.

As we know, the ideal stop loss placement is above (or below) the given Price Action formation. So we adjust our postion size to meet our money management risk.

Another strategy is use fib levels of the Price Action formation itself. Once Price breaks the PB (repeat), once Price breaks the PB or 10-15 pips away, we place the stop loss at the 50% retrace or 61.8 fib level. If we have a confluence of something else at these levels the better.

The daily Cad PB: the 50% retracement lines up nicely with the left eye. So...
Did'nt go for the Usd/Cad short Jarroo, for me the support trendline on the daily tf was just too close to play the break of the pin confidently,

Great going anyways, the dollar's being dumped
I believe . . .
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