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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

  • #19,761
  • Jan 28, 2009 9:38am Jan 28, 2009 9:38am
Quoting rustyjeff
no, just macd for divergence
ok rusty
Simplicity is the key to success
  • #19,762
  • Jan 28, 2009 9:49am Jan 28, 2009 9:49am
Possible reversal:

- 4hr pin
- 61.8 fib
- 89ema (it's not shown on the chart below)
- Zoom out to the daily to see previous support

Rob
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  • #19,763
  • Jan 28, 2009 9:49am Jan 28, 2009 9:49am
Quoting Greenhaze
G/U
I took the the retrace of that BEOB on 1hroff a daily ppz with 61fib confluence. the BEOB also closed below the 365ema

It is a bit sideways mkt but thinking it may push down to the 50fib at about 14200
  • #19,764
  • Jan 28, 2009 9:59am Jan 28, 2009 9:59am
Quoting arcus
You could probably wait for breakout then let it tested the support and enter on pullback. I think that's the way Mike did it.

Off topic:

Dude, are you in UW-Madison? Cause that would be awesome lol cause I'm in UW-Mad as well. Just figure it out from your signature.
UW alumni from 2002. Living in La Crosse now. Glad there's another Badger on the thread!

PS: sorry to all for posting this on thread - was unable to email directly for some reason.

Thanks for the clarification Hipster Pipster. Figured that was what you were looking for on the AUD/CHF.

Josh
  • #19,765
  • Jan 28, 2009 10:23am Jan 28, 2009 10:23am
Quoting Jduester
Thanks for the clarification Hipster Pipster. Figured that was what you were looking for on the AUD/CHF.
Josh
  • #19,766
  • Jan 28, 2009 10:54am Jan 28, 2009 10:54am
Quoting priceaction
Possible reversal:

- 4hr pin
- 61.8 fib
- 89ema (it's not shown on the chart below)
- Zoom out to the daily to see previous support

Rob
X2, I have closed all my long positions. I am already short. Its off 1.4350, I have been eyeballing that area for yonks.

Don't like the form of the PIN on the 4HR too much though. . .

Lets see the what the bears are made of when (if) this 1HR and 4HR break.
Will possibly add a small position on the break of the four hour, I'll see what PA it throws up around the area anyway. 1.42 Looking like support to me though . ..
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  • #19,767
  • Jan 28, 2009 10:59am Jan 28, 2009 10:59am
Quoting Jduester
UW alumni from 2002. Living in La Crosse now. Glad there's another Badger on the thread!

PS: sorry to all for posting this on thread - was unable to email directly for some reason.

Thanks for the clarification Hipster Pipster. Figured that was what you were looking for on the AUD/CHF.

Josh
Make that 3 of us Not an alum though, but was born in wisconsin, and most of my family went to school there.
  • #19,768
  • Jan 28, 2009 11:11am Jan 28, 2009 11:11am
where is ghous,
wanted to find out wat happened to cadchf, my sl initiated at -125pips....
Simplicity is the key to success
  • #19,769
  • Jan 28, 2009 11:20am Jan 28, 2009 11:20am
Quoting squeezy
where is ghous,
wanted to find out wat happened to cadchf, my sl initiated at -125pips....
Not Ghous but I exited that trade, pa below 93.00 wasn't to my liking.
Patience + Humility + Study = Success
  • #19,770
  • Jan 28, 2009 11:35am Jan 28, 2009 11:35am
Quoting trujillo1980
I must stop check my charts avery second. I almost close this one in a lost just before price starting to go north.

Now is looking good...

Any though more than welcome....

Regards...
OK...Price hit my TP @128.70 closing remaining 50% position

Now I'll be looking price action @129.0/130.0 to go short....

Regards....
  • #19,771
  • Jan 28, 2009 11:39am Jan 28, 2009 11:39am
Quoting DutchTrader
Not Ghous but I exited that trade, pa below 93.00 wasn't to my liking.
hey dutchtrader,
was seriously thinking of closing dat trade
wat r the other things one shld look out for when u enter a good trade but no showing good signs of going ur way.
good thing was dat i bliv i entered well, bad thing now was the exit
dis pa is getting kkinda clear now
i see them now at ppz areas
need to work on exits
Simplicity is the key to success
  • #19,772
  • Jan 28, 2009 11:42am Jan 28, 2009 11:42am
Quoting trujillo1980
OK...Price hit my TP @128.70 closing remaining 50% position

Now I'll be looking price action @129.0/130.0 to go short....

Regards....
nice one
Simplicity is the key to success
  • #19,773
  • Jan 28, 2009 11:42am Jan 28, 2009 11:42am
Hola! Como esta? I never met Trujillo, but I toured his homes (Mahogany House and that ugly concrete thing on the hill...), but I DID meet this guy in 1972.

I lived in Arroyo Hondo in Santo Domingo. Spent weekends in Boca Chica and La Romana - before a single hotel was built! Welcome to the forum!




Quoting trujillo1980
OK...Price hit my TP @128.70 closing remaining 50% position

Now I'll be looking price action @129.0/130.0 to go short....

Regards....
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I'm pretty much done with all this ...
  • #19,774
  • Jan 28, 2009 11:54am Jan 28, 2009 11:54am
Quoting squeezy
hey dutchtrader,
was seriously thinking of closing dat trade
wat r the other things one shld look out for when u enter a good trade but no showing good signs of going ur way.
good thing was dat i bliv i entered well, bad thing now was the exit
dis pa is getting kkinda clear now
i see them now at ppz areas
need to work on exits
IMO the most dificult part of trading...Most of my entries are right, but problems comes at the exits moment (Money Management).

For that reason, I would like to ask you guys, (I know everyone has their own style):

*after you made your T. analisys based on PA you enter with one position or spit that position in 2 lots (or more)

*Do you set your s/l and TP at the moment that you place the oreder or later?

*How much of your position do you recomment to close after price is going in your favor.


The way I'm doing lately is open 2 position (50-50%) closing one of them at certain point that I see some minor price consolidation (or S/R level). After that move my S/L to brake even (or around). This way I got great Win% but I decrease my profits.


I appretiate you guys kindly show me the way work for you.

Thank you in advance
  • #19,775
  • Jan 28, 2009 11:59am Jan 28, 2009 11:59am
Quoting StoragePro
Hola! Como esta? I never met Trujillo, but I toured his homes (Mahogany House and that ugly concrete thing on the hill...), but I DID meet this guy in 1972.

I lived in Arroyo Hondo in Santo Domingo. Spent weekends in Boca Chica and La Romana - before a single hotel was built! Welcome to the forum!

Hola StoragePro, I never met trujillo eithe, but let me tell you I DON'T LIKE THAT GUY .I see you live in dom. rep. Send me a PM maybe we can keep in touch to talk about forex in the future...

Take care hermano...
  • #19,776
  • Jan 28, 2009 12:15pm Jan 28, 2009 12:15pm
Quoting rustyjeff
Thats the area I have been waiting for.
tp was a bit higher @ 128.90 but if it closes on the hr as a nice beob I may close now .
hi jeff nice trade,

care to share little bit why u enter at that level ?

thnx
  • #19,777
  • Jan 28, 2009 12:16pm Jan 28, 2009 12:16pm
Quoting trujillo1980
IMO the most dificult part of trading...Most of my entries are right, but problems comes at the exits moment (Money Management).

For that reason, I would like to ask you guys, (I know everyone has their own style):

*after you made your T. analisys based on PA you enter with one position or spit that position in 2 lots (or more)

*Do you set your s/l and TP at the moment that you place the oreder or later?

*How much of your position do you recomment to close after price is going in your favor.


The way I'm doing lately is open 2...
well, i enter with only one position
entering wit 2 split positions is good, but wat if it goes against u?
i normally set my sl & tp after i enter a trade i.e later
after like hw many pips do u then move to be
Simplicity is the key to success
  • #19,778
  • Jan 28, 2009 12:23pm Jan 28, 2009 12:23pm
Quoting trujillo1980
IMO the most dificult part of trading...Most of my entries are right, but problems comes at the exits moment (Money Management).

For that reason, I would like to ask you guys, (I know everyone has their own style):

*after you made your T. analisys based on PA you enter with one position or spit that position in 2 lots (or more)

*Do you set your s/l and TP at the moment that you place the oreder or later?

*How much of your position do you recomment to close after price is going in your favor.


The way I'm doing lately is open 2 position...


Every trade is different ....be flexible with the market...ask yourself if the trade is a trend trade or a counter trendtrade then base it on that...counter trend trade require more attention and more alert as well as moving your stop loss to break even faster or locking pips....a trend trade needs more breathing space as well as the targets are deeper ...keep in mind every timeframe has its own trend so you have to know if your timing another timeframe or if your treating it as its own....
  • #19,779
  • Jan 28, 2009 12:29pm Jan 28, 2009 12:29pm
Quoting jarroo
Yes, I got in on the break of this grouping of PBs (1.4024). I didn't want to post it because its a bit off the trail. But it looked good for a small position trade.

No surprise where this hit. As Jim's chart had shown. Sometimes I get it to the pip but not always. lol
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #19,780
  • Jan 28, 2009 12:39pm Jan 28, 2009 12:39pm
Quoting jarroo
No surprise where this hit. As Jim's chart had shown. Sometimes I get it to the pip but not always. lol
Jarroo,

Just curious as to why you did not get in earlier on the break of the pin at about 1.39?
PA is where its at!!
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