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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

  • #21,161
  • Feb 12, 2009 5:00am Feb 12, 2009 5:00am
Quoting Piproo
so it's not what james16 and most ppl trading and stuyding here?
It is ....You simply start trading mechanical at first and with time you evolve and you actually see what price is telling you...sometimes its a candle and sometimes its simply wht price is trying to do....a couple of guys here sometimes judge their entries primerly because of what price is doing and the candle is simply the result of what it did a couple of guys have good experience and some of them do it already without actually knowing it....
  • #21,162
  • Feb 12, 2009 5:11am Feb 12, 2009 5:11am
Quoting Shermenator
It is ....You simply start trading mechanical at first and with time you evolve and you actually see what price is telling you...sometimes its a candle and sometimes its simply wht price is trying to do....a couple of guys here sometimes judge their entries primerly because of what price is doing and the candle is simply the result of what it did a couple of guys have good experience and some of them do it already without actually knowing it....
thanks anyway, but I think all ppl here talking about candle close.

I think ppl talking about candle pattern, IB OB PB etc, but I dont see those on ur chart.

I searched and found u post same chart on "No Brainer Trades" thread too, so u mean ur trade is related to both trading system?

No offending, but I m very confused by ur entry, im sure some other newbie too cos no candle pattern for entry to us
  • #21,163
  • Feb 12, 2009 5:16am Feb 12, 2009 5:16am
Quoting Piproo
thanks anyway, but I think all ppl here talking about candle close.

I think ppl talking about candle pattern, IB OB PB etc, but I dont see those on ur chart.

I searched and found u post same chart on "no brain trading system" thread too, so u mean ur trade is related to both trading system?

No offending, but I m very confused by ur entry
I trade support and resistance and simply try and trade like market makers do....sorry if I thorw you off a bitt just trying to show a little more in depth the way the market is trying to do...I wil post setups that price action adjust more to what you guys are doing
  • #21,164
  • Feb 12, 2009 5:21am Feb 12, 2009 5:21am
Quoting Shermenator
I trade support and resistance and simply try and trade like market makers do....sorry if I thorw you off a bitt just trying to show a little more in depth the way the market is trying to do...I wil post setups that price action adjust more to what you guys are doing
please dont mind what I typed if u think ur trades and charts is helping ppl in this thread.

I might be the only one dont understand ur entry signal in the thread though.
  • #21,165
  • Feb 12, 2009 5:30am Feb 12, 2009 5:30am
I don't always understand Shermenator's charts, well, I do when he points out why he took the trade, but it will take more years experience for me to see these trades set-up.

But I do greatly appreciate his charts. He is just posting a little more advanced version of J16, and it is nice to know there is more out there to learn, and more trading opportunities.

Please keep posting these types of trades Shermenator. I do look over BRV thread time to time, and I can see how it is very useful, yet very similar to what we do here (support, resistence, price action, location, location, location), yet gives more opportunities for good trade entry.
  • #21,166
  • Feb 12, 2009 5:51am Feb 12, 2009 5:51am
Quoting jarroo
They look good Piproo. I adjust my PPZs to the closest round number.
Jarroo, I looked over many ppz ur guys doing, make sense now adjusting ppz to round numbers.

Thanks
  • #21,167
  • Feb 12, 2009 5:51am Feb 12, 2009 5:51am
Quoting unlv_tj
I don't always understand Shermenator's charts, well, I do when he points out why he took the trade, but it will take more years experience for me to see these trades set-up.

But I do greatly appreciate his charts. He is just posting a little more advanced version of J16, and it is nice to know there is more out there to learn, and more trading opportunities.

Please keep posting these types of trades Shermenator. I do look over BRV thread time to time, and I can see how it is very useful, yet very similar to what we do here (support, resistence,...
Cool...aslong as it help I am happy...I will try and be a bitt more detailed of what the market is trying to do when I take the setup
  • #21,168
  • Feb 12, 2009 6:05am Feb 12, 2009 6:05am
Quoting Piproo
Jarroo, I looked over many ppz ur guys doing, make sense now adjusting ppz to round numbers.

Thanks
Yep their price magnets ....serve as support and resistance to some extent
  • #21,169
  • Feb 12, 2009 6:06am Feb 12, 2009 6:06am
ANyone else watching EURGBP?

Can't post a chart, but daily PPZ and 50% fib of the last swing.
  • #21,170
  • Feb 12, 2009 6:12am Feb 12, 2009 6:12am
Quoting Shermenator
I trade what price is doing....not a candle in specific if price gives the candle its simply what price is doing ...candles come with price ....many people are still to focuse on what the candle means and not on what proffesional money is doing...I always ask myself if the candle formation aligns with what market makers are attmpting to do...I look at price overall and what market makers would do and if they are trying to actually get trders on the wrong side of the trade or if the candle formation is actually ready to really workout
QFT

I find that this aspect of price action is quite lacking around here, which is understandable given that it is aimed at newbie traders. Just the lack of openness to talking about it is slightly discouraging.

Once you can trade candlesticks it would do well to learn how to recognise the price action that they represent without actually having the candlestick formation spell it out for you.

bonne chance
  • #21,171
  • Feb 12, 2009 7:10am Feb 12, 2009 7:10am
Just want to say god speed to all the Australians on the forum. Thats all.
Patience + Humility + Study = Success
  • #21,172
  • Feb 12, 2009 7:34am Feb 12, 2009 7:34am
Quoting enculée
ANyone else watching EURGBP?

Can't post a chart, but daily PPZ and 50% fib of the last swing.
I am waiting for it to hit the 0.91 level....
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I believe . . .
  • #21,173
  • Feb 12, 2009 7:54am Feb 12, 2009 7:54am
Quoting DutchTrader
Just want to say god speed to all the Australians on the forum. Thats all.
Cheers
  • #21,174
  • Feb 12, 2009 8:00am Feb 12, 2009 8:00am
Quoting Jduester
...EUR/GBP BUOB from yesterday - now stops at B/E. TP at 0.9080.

GBP/CHF BEOB from yesterday - now stops at B/E. TP at 1.6520.

Josh

Same here Ghous on long EUR/GBP... limit came within 10pips while I was sleeping... still there... stop moved to just under low of day - 0.8948

Short GBP/CHF - TP hit on 1/2 at 1.6520. Remainder stop moved to just over today high at 1.6702.

Cha Ching.

Josh
  • #21,175
  • Feb 12, 2009 8:02am Feb 12, 2009 8:02am
Hi guys,

Question for the pro's:
I have shorted e/j 115.80 as of last night daily IB which confluence with BEOB on 4H.
went my way 50p or so came back to hit my sl which was already at b/e+3.

Would you re-enter the trade as it did not fulfill the BEOB yet?
some say "there always the other trades, after s/l don't trade the same".
other would say "we suppose to be not emotionally involved (pro's), and this is still a good trade"

Please enlighten me
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  • #21,176
  • Feb 12, 2009 8:10am Feb 12, 2009 8:10am
I personally would not have taken it as a 4H setup as it is straight into support.

If you were playing it as a daily you should still be in it, TP1 of about 114; if equities make new lows as I expect you should get more out of it than that.
  • #21,177
  • Feb 12, 2009 8:12am Feb 12, 2009 8:12am
Quoting Shermenator
Cool...aslong as it help I am happy...I will try and be a bitt more detailed of what the market is trying to do when I take the setup
HEY shermenator cld u pls explain ur method, since its similar to pa, it wld be a good addition ...thnx in advance
Simplicity is the key to success
  • #21,178
  • Feb 12, 2009 8:25am Feb 12, 2009 8:25am
Quoting ady27
Hi guys,

Question for the pro's:
I have shorted e/j 115.80 as of last night daily IB which confluence with BEOB on 4H.
went my way 50p or so came back to hit my sl which was already at b/e+3.

Would you re-enter the trade as it did not fulfill the BEOB yet?
some say "there always the other trades, after s/l don't trade the same".
other would say "we suppose to be not emotionally involved (pro's), and this is still a good trade"

Please enlighten me
I would'nt want you to do that....

A short at the daily Ib was a nice entry point however considering the fact that price has travlled some serious distance down and is sitting nicely on a trendline, I don't think it's worth it anymore...

On a sidenote, The DJI (which is strongly correlated with the yen crosses the major ones like Eur/Jpy specially) has come down to a very very important ppz and is already showing signs of support at it...

Regards,
Ghous.
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I believe . . .
  • #21,179
  • Feb 12, 2009 8:27am Feb 12, 2009 8:27am
Stop at break even on eurgbp first winner ....break even is like winning.....

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  • #21,180
  • Feb 12, 2009 8:32am Feb 12, 2009 8:32am
Ghouse, DJ has just broken.

I am v bearish for the next few dyas.
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