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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

  • #21,681
  • Feb 17, 2009 4:58pm Feb 17, 2009 4:58pm
eur/jpy : 3 confluence : S/R line, 68% Fib line and trend line..... Long target 117.00

Good, medium. What kind of trade would you rate this.
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Dr. C
  • #21,682
  • Feb 17, 2009 5:01pm Feb 17, 2009 5:01pm
Quoting mbqb11
I'll be looking at something like this
Thanks Mike. Never thought of that before. I was thinking more that we might have PB on the daily on the area I marked blue off Daily and Weekly PPZ. What do you think? Would be great location for the PB or BEOB?

Since I involved in this thread, I had my aha moments to fine tune my current entry. This stuff is very simple. Find good area (PPZ) and wait for PA off the area. The only hard part is to recognize the good PPZ, atleast for me but would be easier by time.
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  • #21,683
  • Feb 17, 2009 5:02pm Feb 17, 2009 5:02pm
Do you guys just trade off the daily charts?

I got some intraday play today for 350 pips even and got 7 trades still going and looking pretty good. Just trying to scalp 20 here, 50 there.....

Then i come here to read and do my homework!
Whats happening in EUR/USD should be happening to you!
  • #21,684
  • Feb 17, 2009 5:03pm Feb 17, 2009 5:03pm
Quoting mbqb11
yes I have a Forum indicator that alerts me when bar closes, if posts per minute increase by X% over the 150day MA of posts it goes off

Hahaha, its funny how the longer this thread goes without a daily set up, the lower the timeframes getting posted go.


Why don't we worry when night falls? Because with out fail the sun will rise tomorrow morning. SO if there's no daily set up, have a rest.. without fail another will come
  • #21,685
  • Feb 17, 2009 5:13pm Feb 17, 2009 5:13pm
Quoting BullsAndBear
Do you guys just trade off the daily charts?

I got some intraday play today for 350 pips even and got 7 trades still going and looking pretty good. Just trying to scalp 20 here, 50 there.....

Then i come here to read and do my homework!
I trade mainly weekly and daily charts with the occasional dabble off the 4hr and thats it....

I guess it boils down to your own individual makeup but I can't think of anything worse than staring at charts for hour after hour
  • #21,686
  • Feb 17, 2009 5:22pm Feb 17, 2009 5:22pm
Quoting tehuringa
I trade mainly weekly and daily charts with the occasional dabble off the 4hr and thats it....

I guess it boils down to your own individual makeup but I can't think of anything worse than staring at charts for hour after hour
Especially for us Aussies.

I've learnt to feel 'slow' days pretty well ahead of time, but staying up past midnight to trade the NY session every night smells suspiciously like social suicide. ...I'll trade it when I feel like it and conditions are good, but that's it.
Bundy's status today: "Waiting..."
  • #21,687
  • Feb 17, 2009 5:23pm Feb 17, 2009 5:23pm
Quoting bundyraider
Especially for us Aussies.

I've learnt to feel 'slow' days pretty well ahead of time, but staying up past midnight to trade the NY session every night smells suspiciously like social suicide. ...I'll trade it when I feel like it and conditions are good, but that's it.
Damn!!! Missed my five minute entry on EU.
Bundy's status today: "Waiting..."
  • #21,688
  • Feb 17, 2009 5:38pm Feb 17, 2009 5:38pm
Quoting tehuringa
I guess it boils down to your own individual makeup but I can't think of anything worse than staring at charts for hour after hour
if you trade for a living i bet youd rather do that then sit in a cubicle for 8-10 hrs somewhere....
  • #21,689
  • Feb 17, 2009 5:42pm Feb 17, 2009 5:42pm
Quoting dkmb92
if you trade for a living i bet youd rather do that then sit in a cubicle for 8-10 hrs somewhere....
With a boss breathing down your neck, working on crap you don't care about, working extra time and not getting paid because you are salary.

All of it equals...

10 years of this horrible prison-like sentence, and if you live cheap, refuse to enjoy life, save every penny and invest as diversly as possible then...

You are still behind a retirement by 65 schedule.

Thank god for this forum, thank god for this thread, and thank god for James and all the old guys that come here to help. I may never get it down, but the hope of someday getting it down is enough to get me through the above.
  • #21,690
  • Feb 17, 2009 5:43pm Feb 17, 2009 5:43pm
Quoting mbqb11
I go weeks without daily trades. Stick to 1 and 2 and you will become consistently profitable

-Mike
And that's watching how many pairs Mike? 10? 20? . .
Indicators show the past. Price Action "Indicates" the future.
  • #21,691
  • Feb 17, 2009 5:45pm Feb 17, 2009 5:45pm
Quoting unlv_tj
With a boss breathing down your neck, working on crap you don't care about, working extra time and not getting paid because you are salary.

All of it equals...

10 years of this horrible prison-like sentence, and if you live cheap, refuse to enjoy life, save every penny and invest as diversly as possible then...

You are still behind a retirement by 65 schedule.

Thank god for this forum, thank god for this thread, and thank god for James and all the old guys that come here to help. I may never get it down, but the hope of someday getting it...

AMEN!I completely understand you!!!!Keep with it!
  • #21,692
  • Feb 17, 2009 5:46pm Feb 17, 2009 5:46pm
Quoting dkmb92
if you trade for a living i bet youd rather do that then sit in a cubicle for 8-10 hrs somewhere....
But if you can trade properly and have the necessary capital you have a choice of time frames.

If you trade for a living I'd bet you'd rather spend 15 minutes a day scanning your charts and then go off sailing, or golfing or flying or playing with the kids or pursuing a hobby that's become a business etc.
Bundy's status today: "Waiting..."
  • #21,693
  • Feb 17, 2009 5:53pm Feb 17, 2009 5:53pm
Quoting mbqb11
yep they do

Most people get stuck in the 2 steps forward(with an A+ trade), then 3 steps back(with the B and C trades). Thus you feel as if you are chasing your tail and end up somewhere around breakeven. This is still a good sign to get to this point, but IMO to get past this breakeven level we have to shake that "need to trade" feel. And do the right thing
Guilty.
Indicators show the past. Price Action "Indicates" the future.
  • #21,694
  • Feb 17, 2009 5:55pm Feb 17, 2009 5:55pm
Quoting jarroo
Guilty.
Yeah sorta like in poker, you do win that way but you take much longer to get a big bankroll.
Patience + Humility + Study = Success
  • #21,695
  • Feb 17, 2009 5:56pm Feb 17, 2009 5:56pm
Quoting DutchTrader
Yeah sorta like in poker, you do win that way but you take much longer to get a big bankroll.
Cant wait till the big bankroll - Im giving myself 10 years to get there
Dr. C
  • #21,696
  • Feb 17, 2009 6:20pm Feb 17, 2009 6:20pm
Quoting tehuringa
I trade mainly weekly and daily charts with the occasional dabble off the 4hr and thats it....

I guess it boils down to your own individual makeup but I can't think of anything worse than staring at charts for hour after hour

Pretty good point. At present that is what i am good/descent at. That is why i have been reading this thread like a banshee. I would love to get better at playing the longer TF's. i ended the day with 547 pips and still got a sell on the eur/usd and gpb/usd pairs going.

Now i will look at the higher tf's when reading this thread so it will soak in.

Thanks!
BB
Whats happening in EUR/USD should be happening to you!
  • #21,697
  • Feb 17, 2009 6:29pm Feb 17, 2009 6:29pm
Quoting jarroo
(Sorry I can't post a chart)

One thing I look for when I enter a trade off a good PA setup, and I believe this 4 Hour Usd/Chf BEOB off a Daily PPZ was a good setup.

Did it break on the next bar? Yes it did.

Was the break hard/fast and keep running? Not really, it broke downwards about 20 pips and then immediately started running the other way (upwards).
I would have probably cut this one loose for a small loss. Or stopped it out at break even.

A good confirmation is that when Price breaks, on the next bar, it should run for a good amount...
this helps a lot, Jarroo.

Apprerciate ur efforts many thx again
  • #21,698
  • Feb 17, 2009 6:37pm Feb 17, 2009 6:37pm
Quoting bundyraider
But if you can trade properly and have the necessary capital you have a choice of time frames.

If you trade for a living I'd bet you'd rather spend 15 minutes a day scanning your charts and then go off sailing, or golfing or flying or playing with the kids or pursuing a hobby that's become a business etc.
take a lesson from bundy..."Bundy...Is waiting...for the daily A trade
  • #21,699
  • Feb 17, 2009 6:45pm Feb 17, 2009 6:45pm
Quoting cvcamper
eur/jpy : 3 confluence : S/R line, 68% Fib line and trend line..... Long target 117.00

Good, medium. What kind of trade would you rate this.
b or c imo.. in the lower area of my zone
.
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  • #21,700
  • Feb 17, 2009 7:01pm Feb 17, 2009 7:01pm
Quoting raczekfx
I missed my entry... due to ..., hence I entered on 1hr buov PA.
Normally I would've been in around 129.80, 115.80
I don't see dj (futures) breaking 7420, at least yen crosses telling me about strong bounce coming (at least for time being) we shall see.
It's times like today where fortunes are made and/or lost...
here are some of my entries that i wanted to share with you...

Bought Gu and Gj with refernce to the Gbp index and as oil hit support,

Bought Ej and Uj as GJ hit support late last week.

bought Eu as it hits long term support along with the Eur index.

Corrleations are'nt really working as hard as they should lately...

Regards,
Ghous.
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I believe . . .
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