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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

  • #17,881
  • Jan 5, 2009 8:31pm Jan 5, 2009 8:31pm
Quoting arcus
Thanks Jarroo for the quick reply. I know this pair is a mess, just want to learn so at least I know and got to learn what to expect in this area. Now I'm in love with PA lol.
I understand, this is how we practise and learn.
Indicators show the past. Price Action "Indicates" the future.
  • #17,882
  • Jan 5, 2009 9:04pm Jan 5, 2009 9:04pm
Indicators show the past. Price Action shows the future.

Could Read;

Indicators show the past. Price Action "Indicates" the future.
  • #17,883
  • Jan 5, 2009 9:09pm Jan 5, 2009 9:09pm
Quoting raczekfx
Short answer is: I don't know, I'm not you.

I wouldn't want to turn this discussion into a trading course. No time, no place for this on an open and public forum....
Trades I'm posting from time to time are for illustration/entertainment...

OK. Patience and hard work. I'll keep studying and practice every day.

Thank you.
  • #17,884
  • Jan 5, 2009 9:10pm Jan 5, 2009 9:10pm
Quoting Bemac
Indicators show the past. Price Action shows the future.

Could Read;

Indicators show the past. Price Action "Indicates" the future.
I like it. Nice change for 2009.
Indicators show the past. Price Action "Indicates" the future.
  • #17,885
  • Jan 5, 2009 10:16pm Jan 5, 2009 10:16pm
Quoting jarroo
I like it. Nice change for 2009.
Nice change Jim
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  • #17,886
  • Jan 6, 2009 2:40am Jan 6, 2009 2:40am
Quoting jarroo
The Weekly PB on the Eur/Gbp worked out nicely Mab.

Once Price broke the PB, it's a good sign to see Price retrace to the entry point and then continue to fall as shown on the 4 hour chart. More so on the Hourly.
Hi Jarroo,

The pin bar break has turned into a good trade - I am only paper trading at the moment with the J16 stuff - but am seeing the benefits of trading higher time frames. It also suits because I currently work full time.

Took profit at TP1 for 150 pips. Moved remaining Lots to B/E.

Guys, do the TP 2 & 3 areas look like reasonable targets ?

Regards

MAB
Attached Image (click to enlarge)
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  • #17,887
  • Jan 6, 2009 3:30am Jan 6, 2009 3:30am
Quoting Mab
Hi Jarroo,

The pin bar break has turned into a good trade - I am only paper trading at the moment with the J16 stuff - but am seeing the benefits of trading higher time frames. It also suits because I currently work full time.

Took profit at TP1 for 150 pips. Moved remaining Lots to B/E.

Guys, do the TP 2 & 3 areas look like reasonable targets ?

Regards

MAB
MAB! Congratulations on locking in some profit and having a free run!
I think the TP2 is reasonable at 0.90ish (just round up the numbers)
Iam little concerned that the direction of your FIB. is wrong
take a look at my chart for TP3 at ppz (0.86ish). It's just my view, more experienced traders can comment. Thanks

ALM

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  • #17,888
  • Jan 6, 2009 3:30am Jan 6, 2009 3:30am
Quoting Mab
Hi Jarroo,

The pin bar break has turned into a good trade - I am only paper trading at the moment with the J16 stuff - but am seeing the benefits of trading higher time frames. It also suits because I currently work full time.

Took profit at TP1 for 150 pips. Moved remaining Lots to B/E.

Guys, do the TP 2 & 3 areas look like reasonable targets ?

Regards

MAB
Managing a trade is an idividual thing. Draw some S/R levels on the Daily for possible targets and/or stop loss placements.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #17,889
  • Jan 6, 2009 3:32am Jan 6, 2009 3:32am
Quoting jarroo
I like the .8500 as a strong PPZ . TBL on the 4 hour could be tradable, I would have a target at .8430. But my eyes would be looking for Bullish PA to ride the current uptrend.

In all honesty, the pair is a messy and all over the place. When I scan pairs and would come across this one . . . that looks like a couple of porcupines in a fight . . I pass. There are many other easier pairs to trade.
Yeah, this stuff works.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #17,890
  • Jan 6, 2009 3:41am Jan 6, 2009 3:41am
Hey jarroo! Are you in Eur/Chf Weekly pin? down -40pip at the moment!

ALM
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  • #17,891
  • Jan 6, 2009 3:48am Jan 6, 2009 3:48am
Quoting Mab
Hi Jarroo,

The pin bar break has turned into a good trade - I am only paper trading at the moment with the J16 stuff - but am seeing the benefits of trading higher time frames. It also suits because I currently work full time.

Took profit at TP1 for 150 pips. Moved remaining Lots to B/E.

Guys, do the TP 2 & 3 areas look like reasonable targets ?

Regards

MAB
yeah, like Jarroo said, it's personal. If you took profit it's all good.

I'm not in this trade, but if I was I'd look at Fib expansions and this is how I'd draw them. I'd wait to see how price reacted around the level (acting as S/R). Seeing the 68 FE act as resistance would make me think it would hit the next level, and it looks like it did. But his is all hindsight stuff...
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Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,892
  • Jan 6, 2009 3:48am Jan 6, 2009 3:48am
Quoting Almfx
Hey jarroo! Are you in Eur/Chf Weekly pin? down -40pip at the moment!

ALM
Other half stopped out at break even. 1st half I caught 67 pips. I may re-enter if other Price Action shows the way with the PB.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #17,893
  • Jan 6, 2009 3:50am Jan 6, 2009 3:50am
Quoting jarroo
Yeah, this stuff works.
Yeah, I'm a believer.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,894
  • Jan 6, 2009 4:28am Jan 6, 2009 4:28am
This stuff started working, as soon as I stopped getting in my OWN way.
Patience + Humility + Study = Success
  • #17,895
  • Jan 6, 2009 4:35am Jan 6, 2009 4:35am
I had my tp set to 1.5150 upon the break of the wk pb. It hit this on one of my brokers, but missed on the other. Thankfully the larger account won out on this occassion, so I'm only down a nominal amount in my smaller a/c. But that aside, my tp was probably set too tightly on the ppz, and I could have given price some waggling room. An IB formed on the 4h chart at this level and has subsequently broken to the downside. Hopefully we'll get some pa to indicate that this pair is heading north again. If we do I may add to my position, but I'll still be watching that ppz at 1.5150 as a tp level.
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History will be kind to me, for I intend to write it - Winston Churchill
  • #17,896
  • Jan 6, 2009 4:59am Jan 6, 2009 4:59am
Quoting DutchTrader
This stuff started working, as soon as I stopped getting in my OWN way.
The psychology involved with trading is truely amazing.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,897
  • Jan 6, 2009 5:17am Jan 6, 2009 5:17am
Quoting LasVahGoose
The psychology involved with trading is truely amazing.
Yes. Even saying "amazing" is understating the importance of psychology.
Patience + Humility + Study = Success
  • #17,898
  • Jan 6, 2009 5:34am Jan 6, 2009 5:34am
Pin bar on s/r level is golden.
Check out this chart

God bless james16 group
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  • #17,899
  • Jan 6, 2009 8:18am Jan 6, 2009 8:18am
What do you guys think about this small PB. It's still in sideway move. So I thought I want to try to play in this range. The PB supported by PPZ and 61.8Fib. I actually shorted from the blue area, and close around 60+ps when I see price rejected the PPZ and the market didn't move much after London open. So, this definetely still in correction. Any comment on this?

I had another trade running on E/U. Hit the target around 1.3400 but currently still holding it, just want to see how price reacted at the PPZ. If it fail, I will close my position.
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  • #17,900
  • Jan 6, 2009 9:07am Jan 6, 2009 9:07am
EJ 4hr BUOVB, played out! out 61ret. and ppz confluence
+40 pip
EUR/CHF weekly pin trade returning back to '+'zone
ALM
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