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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

  • #18,541
  • Jan 14, 2009 7:20am Jan 14, 2009 7:20am
Quoting jarroo
I'll look at the Eur/Jpy first since it broke 1st.

Rule of thumb is the the previous bar's Low is a good S/R line. If it acts the same with more previous bars the better.

Gbp/Jpy;
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Indicators show the past. Price Action "Indicates" the future.
  • #18,542
  • Jan 14, 2009 7:38am Jan 14, 2009 7:38am
Quoting jarroo
I'll look at the Eur/Jpy first since it broke 1st.

Rule of thumb is the the previous bar's Low is a good S/R line. If it acts the same with more previous bars the better.
This how we roll people.
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Indicators show the past. Price Action "Indicates" the future.
  • #18,543
  • Jan 14, 2009 7:44am Jan 14, 2009 7:44am
Quoting jarroo
This how we roll people.
yes sir.
"Don't trade to trade . . . trade to win." - James16
  • #18,544
  • Jan 14, 2009 7:48am Jan 14, 2009 7:48am
Quoting Flem26
yes sir.
Easy trades BEOB with the trend.
Indicators show the past. Price Action "Indicates" the future.
  • #18,545
  • Jan 14, 2009 7:56am Jan 14, 2009 7:56am
Possible target area for the Eur/Jpy. 116.50-116.00
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Indicators show the past. Price Action "Indicates" the future.
  • #18,546
  • Jan 14, 2009 7:59am Jan 14, 2009 7:59am
Eur/Usd target may have already hit.
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Indicators show the past. Price Action "Indicates" the future.
  • #18,547
  • Jan 14, 2009 8:00am Jan 14, 2009 8:00am
Jarroo,

Would you havew taken the BEOB on the E/U weekly? Was this a good setup?
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PA is where its at!!
  • #18,548
  • Jan 14, 2009 8:03am Jan 14, 2009 8:03am
Quoting bertie123
Jarroo,

Would you havew taken the BEOB on the E/U weekly? Was this a good setup?
Absolutely and I did. lol

Your chart shows Price Action at a swing High, with the overall trend, off of a PPZ. What more could you ask for.
Indicators show the past. Price Action "Indicates" the future.
  • #18,549
  • Jan 14, 2009 8:09am Jan 14, 2009 8:09am
Cheers Jarroo, nice to have one's own analysis confirmed by a respected elder of this forum!

berti
PA is where its at!!
  • #18,550
  • Jan 14, 2009 8:12am Jan 14, 2009 8:12am
Here it comes Mark.
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  • #18,551
  • Edited 8:48am Jan 14, 2009 8:16am | Edited 8:48am
Quoting bertie123
Cheers Jarroo, nice to have one's own analysis confirmed by a respected elder of this forum!

berti

Glad to be of help.

Not sure what ghous was looking at.

I'll have to talk with that young man when he gets back from his paper route. (Just kidding ghous)
Indicators show the past. Price Action "Indicates" the future.
  • #18,552
  • Jan 14, 2009 8:19am Jan 14, 2009 8:19am
FYI all,

Silver is having a BEOB on the daily.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #18,553
  • Jan 14, 2009 8:30am Jan 14, 2009 8:30am
patiently.
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  • #18,554
  • Jan 14, 2009 8:35am Jan 14, 2009 8:35am
Quoting jarroo
I'll look at the Eur/Jpy first since it broke 1st.

Rule of thumb is the the previous bar's Low is a good S/R line. If it acts the same with more previous bars the better.
How the rule of thumb apply? please take a look
  • #18,555
  • Jan 14, 2009 8:37am Jan 14, 2009 8:37am
Hi all,

I have used price action exclusively for quite a while now and I am currently averaging 90% wins but I am very picky about my trades.

I would like to trade more but rather than drop down in time frames I was thinking about expanding to the stock markets and staying on the daily charts. My question is for anyone who is currently trading price action (mainly pin bars) on stocks.

First of all does it work as well as in Forex? Looking at the charts it seems to do fine.

With so many stocks available to trade how do you scan them for setups? Is there an easier way than visually look through them all for pin bars?

What trading platform would you recommend for trading stocks?

Any experience anyone has with trading PA on stocks would be great.

Thanks
  • #18,556
  • Jan 14, 2009 8:42am Jan 14, 2009 8:42am
Quoting goldbird22
How the rule of thumb apply? please take a look
Its just a good area to place your stop loss above instead of the just above the top of the BEOB. The top of the BEOB is the ideal stop loss placement.

Also, if Price breaks and then retraces, its a good area to look for to see if Price may head back down for re-entry.
Indicators show the past. Price Action "Indicates" the future.
  • #18,557
  • Jan 14, 2009 8:55am Jan 14, 2009 8:55am
Quoting Someone
Hi all,

I have used price action exclusively for quite a while now and I am currently averaging 90% wins but I am very picky about my trades.

I would like to trade more but rather than drop down in time frames I was thinking about expanding to the stock markets and staying on the daily charts. My question is for anyone who is currently trading price action (mainly pin bars) on stocks.

[font=Times New Roman][size=3]First...
Hi Someone,

I do exactly the same - however only on daily tf. The main difference you have to be aware of with stocks is that they tend to gap quite alot (but then that can be another type of trade to play).
I use IG as my broker and they have a large number of stocks on different exchanges. There is also a tool called proscreener which you can use to scan everthing. However i don't really use it that much as i have another piece of software called Integrated investor(Profitsource) which i use to scan for various types of setups, not just the PA on this thread.

cheers

Simon
  • #18,558
  • Jan 14, 2009 8:57am Jan 14, 2009 8:57am
Quoting jarroo
I'll look at the Eur/Jpy first since it broke 1st.

Rule of thumb is the the previous bar's Low is a good S/R line. If it acts the same with more previous bars the better.
nice little gem there Jarroo, thanks for that. of late i have been trying to get in earlier by fibbing the bar itself but you never know how far price will retrace 38 or 50. so this might help give a better indication.
  • #18,559
  • Jan 14, 2009 9:05am Jan 14, 2009 9:05am
Quoting Someone
Hi all,

I have used price action exclusively for quite a while now and I am currently averaging 90% wins but I am very picky about my trades.

I would like to trade more but rather than drop down in time frames I was thinking about expanding to the stock markets and staying on the daily charts. My question is for anyone who is currently trading price action (mainly pin bars) on stocks.

[font=Times New Roman][size=3]First...
Just increase your risk by a person and you wont find the need of trading more since the hit rate is high
  • #18,560
  • Jan 14, 2009 9:08am Jan 14, 2009 9:08am
sure you can. i manage my personal sep IRA and several other stock accounts with virtually nothing but simple price action. i think clockwork71 sent me this one a while back. i missed it but he didnt.

Quoting Someone
Hi all,

I have used price action exclusively for quite a while now and I am currently averaging 90% wins but I am very picky about my trades.

I would like to trade more but rather than drop down in time frames I was thinking about expanding to the stock markets and staying on the daily charts. My question is for anyone who is currently trading price action (mainly pin bars) on stocks.

[font=Times New Roman][size=3]First...
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