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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

  • #21,061
  • Feb 11, 2009 10:02am Feb 11, 2009 10:02am
@ jarroo...took half tp at 1.436, and let the other half run after moving to be
Simplicity is the key to success
  • #21,062
  • Feb 11, 2009 10:02am Feb 11, 2009 10:02am
Anyne watching usd/chf? Looks like its headed for a test of the 1.17 PPZ
Patience + Humility + Study = Success
  • #21,063
  • Feb 11, 2009 10:02am Feb 11, 2009 10:02am
Quoting squeezy
yeah thnx jarroo
pls cld u help me out wit my entries, since u said dat one is aggressive
wat i do is, once the bar closes for my confirmation of pa....i jump in
do u hav a pdf file on how to enter, set sl and some other things like dat
now dat im seeing the right pa, need to fine tune other things like entries etc
i totally feel u on the bearish pa on a down trend, cldnt help the nice pa, for the trend continuation......
Put this great post from James16 next to your bed and read it nightly. lol (just kidding)

This is, as Jim says, CRITICAL.

http://www.forexfactory.com/showpost...ostcount=15568
Indicators show the past. Price Action "Indicates" the future.
  • #21,064
  • Feb 11, 2009 10:04am Feb 11, 2009 10:04am
Quoting alter
I understand just my broker (Oanda) doesn't allow to open 2 trades short and long at the same time.

you can open a sub account for this.
  • #21,065
  • Feb 11, 2009 10:08am Feb 11, 2009 10:08am
Quoting squeezy
yeah thnx jarroo

what i do is, once the bar closes for my confirmation of pa....i jump in
We always wait for the break of a given PA set up. Never want to just jump into a trade.
Indicators show the past. Price Action "Indicates" the future.
  • #21,066
  • Feb 11, 2009 10:12am Feb 11, 2009 10:12am
Quoting squeezy
@ jarroo...took half tp at 1.436, and let the other half run after moving to be
Its always nice to lock some profit down and eliminate the risk.
How do you feel about the trade now? Its a little more comfortable now isn't it?
Indicators show the past. Price Action "Indicates" the future.
  • #21,067
  • Feb 11, 2009 10:23am Feb 11, 2009 10:23am
Quoting jarroo
Its always nice to lock some profit down and eliminate the risk.
How do you feel about the trade now? Its a little more comfortable now isn't it?
wow! u hav no idea.....at ease now
thnx
Simplicity is the key to success
  • #21,068
  • Feb 11, 2009 10:25am Feb 11, 2009 10:25am
Alright guys take it easy I will now go hibernate ....great trading day
  • #21,069
  • Feb 11, 2009 10:26am Feb 11, 2009 10:26am
Quoting dmc
Just taking a look at this AUD/Cad 4 HR..Definitely not a an A+ but here are some thoughts.

Pros.
Good pin formation - Long nose, eyes in good position
Fib confluence on at 50 and 61.8
Off the 150 and 365 EMA
At a price pivot Zone the 81.50 seems to be a FLipping point

Cons:
Not at a swing high or Low
Good amount of traffic to the left
The 80.50 Level is not far off should see some resistance there

As I am writing this it just seems more and more like a no trade, location is SO IMPORTANT, any comments?
Your Cons are it. They outweight the Pros.

Nice 4 Pin Bar on Feb 2nd. Now we're talking A trade.
Indicators show the past. Price Action "Indicates" the future.
  • #21,070
  • Feb 11, 2009 10:31am Feb 11, 2009 10:31am
Quoting jarroo
Your Cons are it. They outweight the Pros.

Nice 4 Pin Bar on Feb 2nd. Now we're talking A trade.

I was ridiculously angry I missed that one, I was sleeping like an undedicated trader. I wish I didnt have school or work!!!!! lolol
  • #21,071
  • Feb 11, 2009 10:37am Feb 11, 2009 10:37am
Quoting dmc
I was ridiculously angry I missed that one, I was sleeping like an undedicated trader. I wish I didnt have school or work!!!!! lolol

lol.

There will be better ones coming soon. There always is.
Indicators show the past. Price Action "Indicates" the future.
  • #21,072
  • Feb 11, 2009 10:48am Feb 11, 2009 10:48am
Jarroo

Thanks for answering the question bro, I sometimes use that approach myself.

Regards
Jig
  • #21,073
  • Feb 11, 2009 10:50am Feb 11, 2009 10:50am
Quoting Jigsaw
Jarroo

Thanks for answering the question bro, I sometimes use that approach myself.

Regards
Jig
Like I said it doesn't happen alot. If one catches my eye, then yes.
Indicators show the past. Price Action "Indicates" the future.
  • #21,074
  • Feb 11, 2009 10:52am Feb 11, 2009 10:52am
Quoting jarroo
Take the 4 hour BEOB on the Gbp/Usd. I entered on the break with a small position. Why? Is not an A trade, because its not at swing High. It could be a contination PA of the down trend. I like that it engulfed two bars and that is below a round number. We shall see.

Jim
Jarro,
Thanks for all your insight you share here with all of us. I have one question for you.Wouldn't you consider the 1.4300 a pretty strong ppz(support)?I would have been waiting for a bounce myself...What is your view of this?
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  • #21,075
  • Feb 11, 2009 11:07am Feb 11, 2009 11:07am
Quoting jlmac27
Jarro,
Thanks for all your insight you share here with all of us. I have one question for you.Wouldn't you consider the 1.4300 a pretty strong ppz(support)?I would have been waiting for a bounce myself...What is your view of this?

I still like the 1.4400-1.4375 level.

You really want to define the PPZs on the Daily/Weekly time frames. Sure you'll find some on the 4 hour but the stronger ones are on the Daily/Weekly.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #21,076
  • Feb 11, 2009 11:09am Feb 11, 2009 11:09am
Looking good so far, I would have looked to take some profit around the 1.60 level, but it may have some more room to run. Better Safe then sorry.

Quoting Luso
Hi,

I am thinking going short on this one. I like the location and that pin was a clear swing high.
Comments are more than welcome.
ty
P.S. - Unless this last 5m to the candle close changes everything
  • #21,077
  • Feb 11, 2009 11:18am Feb 11, 2009 11:18am
Quoting jarroo
I still like the 1.4400-1.4375 level.

You really want to define the PPZs on the Daily/Weekly time frames. Sure you'll find some on the 4 hour but the stronger ones are on the Daily/Weekly.

thanks for the reply JarroI guess the 1.4400 is quite stronger now that I take another look, we have broken that.
  • #21,078
  • Feb 11, 2009 11:24am Feb 11, 2009 11:24am
Quoting dmc
Looking good so far, I would have looked to take some profit around the 1.60 level, but it may have some more room to run. Better Safe then sorry.
I had my first tp at 1.598. It didn't hit for 9 pips. So now I moved my stop to 1.6050 to lock some profits.
regards,
luso
  • #21,079
  • Feb 11, 2009 11:36am Feb 11, 2009 11:36am
I think Jig might have asked me a few days ago about why I'm using FX Accucharts (with PFG FX Express). I found another reason this morning.

I can offset all my charts. So I can make 3 separate 4 hour charts, each with an hour offset. All in same broker, same page. (Not there yet, as I'm not even looking at 4 hour yet). Not trying to sell Accucharts in any way, just noticed that some on here are using 3 different brokers to accomplish chart deviation.

Josh
  • #21,080
  • Feb 11, 2009 11:55am Feb 11, 2009 11:55am
Quoting squeezy
yeah thnx jarroo
pls cld u help me out wit my entries, since u said dat one is aggressive
wat i do is, once the bar closes for my confirmation of pa....i jump in
do u hav a pdf file on how to enter, set sl and some other things like dat
now dat im seeing the right pa, need to fine tune other things like entries etc
i totally feel u on the bearish pa on a down trend, cldnt help the nice pa, for the trend continuation......
Entering on the close of a PA bar is'nt something wrong it's just an aggressive way of doing it, what most of us do is to take a break of the PA bar i.e take a trade after price has gone X number of pips from the high or low of the bar as the case maybe...

so for a bullish Pin bar you wait for break of the high, vice versa for a bearish pin bar.
for a BUOB again you wait for the break of the high and vice versa for a BEOB
same goes for an Inside bar....

Nice to see you got some profit of that aggressive trade, although I and most of the seniors here would want you (assuming you're still at a level below pro at this) to go with the conservative approach.

My advice is if going the aggressive way is what you feel like doing, take the aggressive trade on a demo and take that same very trade more conservatively (i.e after a proper break) on your live account i.e if you're on a live account (otherwise 2 demo accounts should do the job) and then after some time compare the results of both the entry methods, learn from it and post it up here for all of us too

It's never a bad idea to keep experimenting with all your ideas,

Regards,
Ghous.
I believe . . .
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