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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 8, 2008 1:13am Dec 8, 2008 1:13am
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 8, 2008 1:15am Dec 8, 2008 1:15am
Quoting jarroo
Target hit and then some.
Same with looney. .....KACHING!!!
Bundy's status today: "Waiting..."
  • #16,323
  • Dec 8, 2008 1:15am Dec 8, 2008 1:15am
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 8, 2008 1:16am Dec 8, 2008 1:16am
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 3:01am Dec 8, 2008 1:20am | Edited 3:01am
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 8, 2008 1:27am Dec 8, 2008 1:27am
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 8, 2008 1:32am Dec 8, 2008 1:32am
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 8, 2008 1:38am Dec 8, 2008 1:38am
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 8, 2008 1:40am Dec 8, 2008 1:40am
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 8, 2008 1:46am Dec 8, 2008 1:46am
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 8, 2008 1:49am Dec 8, 2008 1:49am
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 8, 2008 1:51am Dec 8, 2008 1:51am
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 8, 2008 1:52am Dec 8, 2008 1:52am
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 8, 2008 1:54am Dec 8, 2008 1:54am
Looney is hitting the 365 weekly support as we speak.
  • #16,335
  • Dec 8, 2008 1:56am Dec 8, 2008 1:56am
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 8, 2008 1:59am Dec 8, 2008 1:59am
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 2:05am Dec 8, 2008 2:05am
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 2:12am Dec 8, 2008 2:12am
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 2:12am Dec 8, 2008 2:12am
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 2:13am Dec 8, 2008 2:13am
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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