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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

  • #21,181
  • Feb 12, 2009 8:33am Feb 12, 2009 8:33am
Quoting enculée
Ghouse, DJ has just broken.

I am v bearish for the next few dyas.
Too soon to decide just yet...
I believe . . .
  • #21,182
  • Feb 12, 2009 8:36am Feb 12, 2009 8:36am
whats going on with Gold ? 4 hr pin bar that broke then retraced
  • #21,183
  • Feb 12, 2009 8:37am Feb 12, 2009 8:37am
hey ghous ,pls cld u show me an example of a bullish/ bearish inside bar...
might hav mixed it up ....
Simplicity is the key to success
  • #21,184
  • Feb 12, 2009 8:42am Feb 12, 2009 8:42am
Second winner ....usdjpy break even is now locked.....reason simply because market is leaving long wicks on previous candles at the bottom....showing sellstop getting hit in smaller time frame and getting traders on the wrong side....

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  • #21,185
  • Feb 12, 2009 8:50am Feb 12, 2009 8:50am
Will take profits at support...and let the rest run....always treat yourself and always let the market take you out..

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  • #21,186
  • Feb 12, 2009 8:53am Feb 12, 2009 8:53am
Quoting Shermenator
Will take profits at support...and let the rest run....always treat yourself and always let the market take you out..

Attachment

Took profits now letting the rest of the market do what it whants...Try to show you guys how I manage the trades and such if it bothers let me know....
  • #21,187
  • Feb 12, 2009 9:03am Feb 12, 2009 9:03am
Quoting Shermenator
Took profits now letting the rest of the market do what it whants...Try to show you guys how I manage the trades and such if it bothers let me know....

So just to clarify, you got out on a market order? The low for my feed was 0.8944 (bid), which wouldn't have executed your 0.8938 limit. How did you know to get out versus let the market do the work and take you out?
  • #21,188
  • Feb 12, 2009 9:05am Feb 12, 2009 9:05am
Quoting Shermenator
Took profits now letting the rest of the market do what it whants...Try to show you guys how I manage the trades and such if it bothers let me know....
Don't worry Shermen, not bothering at all. So you don't wait for PA confirmation to enter?
  • #21,189
  • Feb 12, 2009 9:06am Feb 12, 2009 9:06am
Quoting Jduester
So just to clarify, you got out on a market order? The low for my feed was 0.8944 (bid), which wouldn't have executed your 0.8938 limit. How did you know to get out versus let the market do the work and take you out?
candle close.....ussually if you have been dropping in the 1 hour tons you will get an attempt at trying to pull back a bitt ...so since price is so close to support I will get out...I use marketorders mainly....
  • #21,190
  • Feb 12, 2009 9:07am Feb 12, 2009 9:07am
Quoting arcus
Don't worry Shermen, not bothering at all. So you don't wait for PA confirmation to enter?
Price was going up and showing weaks in the structure in that pair thats price action as well the candle just tag along after I came in and somtimes I will add to my trade or have a new trade completly based on it...
  • #21,191
  • Feb 12, 2009 9:10am Feb 12, 2009 9:10am
Quoting arcus
Don't worry Shermen, not bothering at all. So you don't wait for PA confirmation to enter?
Also you dont whant to lock the market into specific candle formation only since the market does not know what the candle is ...instead trying an understand what the rythem is and what the market is trying to do...
  • #21,192
  • Feb 12, 2009 9:14am Feb 12, 2009 9:14am
Quoting Shermenator
Took profits now letting the rest of the market do what it whants...Try to show you guys how I manage the trades and such if it bothers let me know....
hey, look at my eurgbp h4 fxdd feed, not the same wit urs, how come
pls who has the indicator that tells u how many more hrs till bar closes...
thnx
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Simplicity is the key to success
  • #21,193
  • Feb 12, 2009 9:16am Feb 12, 2009 9:16am
Quoting Shermenator
Also you dont whant to lock the market into specific candle formation only since the market does not know what the candle is ...instead trying an understand what the rythem is and what the market is trying to do...
By doing this both you will understand what the A trades are and taking the correct setups
  • #21,194
  • Feb 12, 2009 9:23am Feb 12, 2009 9:23am
Quoting squeezy
hey, look at my eurgbp h4 fxdd feed, not the same wit urs, how come
pls who has the indicator that tells u how many more hrs till bar closes...
thnx

Well I use Ny candle closes and the broker I use is itradefx ....

and the indi is called candle

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  • #21,195
  • Feb 12, 2009 9:24am Feb 12, 2009 9:24am
Quoting Shermenator
candle close.....ussually if you have been dropping in the 1 hour tons you will get an attempt at trying to pull back a bitt ...so since price is so close to support I will get out...I use marketorders mainly....

Ok, I think I understand better now. It does seem like you trade off a hunch (ie- trade the way you think the market professionals and market makers are trading). But it also seems that you use S/R regions to help you make that decision. And hey, if it works for you, all the better.
I will not be able to trade that way for a while... trying to follow James16 recommendations to stick to daily,weekly, and monthly charts for a while first... also I try to trade off the same timeframe, meaning if I enter on the day, I try to exit on the day.

Wads of success to you Sherman and keep posting - I think there is great insight in your style, despite not being traditional James16 PA formations.

Josh
  • #21,196
  • Feb 12, 2009 9:29am Feb 12, 2009 9:29am
Now climbing my way will look to take profits at 9074 and let the rest run....

look at the wicks prior to the candles high I took and you can see what the market is trying to do ...

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  • #21,197
  • Feb 12, 2009 9:32am Feb 12, 2009 9:32am
you trade off 4hr only shermonator ?
  • #21,198
  • Feb 12, 2009 9:32am Feb 12, 2009 9:32am
usd/chf finally arrived at the ppz around 1.17 and is reacting accordingly.
Patience + Humility + Study = Success
  • #21,199
  • Feb 12, 2009 9:34am Feb 12, 2009 9:34am
Quoting Shermenator
Well I use Ny candle closes and the broker I use is itradefx ....

and the indi is called candle

Attachment
ok thnx
on the last chart u posted, i saw fxdd at the bottom, dats y i was curious
thnx for the indi
Simplicity is the key to success
  • #21,200
  • Feb 12, 2009 9:35am Feb 12, 2009 9:35am
Quoting squeezy
ok thnx
on the last chart u posted, i saw fxdd at the bottom, dats y i was curious
thnx for the indi
I changed the server on tht metatrder to use itradefx
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