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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

  • #21,861
  • Feb 19, 2009 3:21am Feb 19, 2009 3:21am
Quoting darewood
I'm another that has almost just blew my account shotgunning trades. Thing is is that I do really good at this when I only use daily or higher time frames. My account is small and I guess I've been trying to shotgun trades to get it larger.
I just did something I would recommend others do who are having a hard time keeping themselves from going down to lower time frames.
You can right click on the bar where the buttons are for the different time frames and remove any time frame from that toolbar. I have removed all time frames below daily to keep...
Good for you mate....you are better off trading the small account with discipline and putting money away to bolster the account in the future....save $5000 move it to your fx account and again and again all the while planning your trades and trading your plan....won't take long to build up a decent starting bank
  • #21,862
  • Feb 19, 2009 3:26am Feb 19, 2009 3:26am
hi guys, possible pin forming on 30M GBP/USD. what do you think?
  • #21,863
  • Feb 19, 2009 3:29am Feb 19, 2009 3:29am
nice pin bar near daily r2...:nerd:
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  • #21,864
  • Feb 19, 2009 3:42am Feb 19, 2009 3:42am
hi guys what do u think about this posible pinbar location, still not closed yet, but if close like this is that good location?
CHFJPY Look like good location break and retrace and bounced back with pinbar.
USDCHF make it seem make false break and now comeback down?


http://clip2net.com/clip/m11297/1235...-clip-10kb.png
http://clip2net.com/clip/m11297/1235...-clip-11kb.png
  • #21,865
  • Feb 19, 2009 3:52am Feb 19, 2009 3:52am
Quoting poplar
hi guys what do u think about this posible pinbar location, still not closed yet, but if close like this is that good location?
CHFJPY Look like good location break and retrace and bounced back with pinbar.
USDCHF make it seem make false break and now comeback down?
What's the Daily and Weekly Price Action telling you?
Indicators show the past. Price Action "Indicates" the future.
  • #21,866
  • Feb 19, 2009 4:02am Feb 19, 2009 4:02am
Quoting jarroo
Good for you hijack.

I was wonder how you played that out. Some would take that stoploss off at break even and "hope" the it would contune down.

I consider the way you managed that trade as A+++.

Nice Job.

Jim
I was like going to take 1/3 of the trade targeting the next PPZ I had drawn and set the other remaining trades to at least BE and yeah, "hope" it would continue down, but unfortunately it did not played well. That's one case, I'll face more and more and let this one going to be one of my experiences.
  • #21,867
  • Feb 19, 2009 4:05am Feb 19, 2009 4:05am
shotgunned my account to bits yesterday AGAIN !! lack of patient and discipline is THE hardest thing to master I am finding.

when you go down the timeframes you end up holding for shorter periods and take fewer pips for your risk. I too will be removing anything under 4 hour from my charts for the next while to see how I get on.
  • #21,868
  • Feb 19, 2009 4:05am Feb 19, 2009 4:05am
Quoting jarroo
What's the Daily and Weekly Price Action telling you?
daily chfjpy i think it's look like try to break up that resist/ppz up but and before give that pinbar althought not in very good position.
weekly i think now at resistance ppz
http://clip2net.com/clip/m11297/1235038186-clip-7kb.png
http://clip2net.com/clip/m11297/1235038255-clip-6kb.png
uchf daily i think it's break up from triangle. uchf weekly look like bias still up.http://clip2net.com/clip/m11297/1235038293-clip-9kb.png
http://clip2net.com/clip/m11297/1235038329-clip-8kb.png
i think not very good to trade ?

the signal is gone/not very good anymore i think now..
cmiiw
  • #21,869
  • Feb 19, 2009 4:10am Feb 19, 2009 4:10am
Quoting hijackxx
I was like going to take 1/3 of the trade targeting the next PPZ I had drawn and set the other remaining trades to at least BE and yeah, "hope" it would continue down, but unfortunately it did not played well. That's one case, I'll face more and more and let this one going to be one of my experiences.
You stuck to your guns and if it played out you were golden and since it didn't, you lose nothing. It could have easily gone your way but you protected yourself, very nice. It's all about controling risk/ minimizing losses in my book.

The next one will go your way.
Indicators show the past. Price Action "Indicates" the future.
  • #21,870
  • Feb 19, 2009 4:14am Feb 19, 2009 4:14am
Quoting poplar
daily chfjpy i think it's look like try to break up that resist/ppz up but and before give that pinbar althought not in very good position.
weekly i think now at resistance ppz


uchf daily i think it's break up from triangle. uchf weekly look like bias still up.

i think not very good to trade ?

the signal is gone/not very good anymore i think now..
cmiiw
So there's nothing really clear or obvious on the Daily or Weekly time frames. Yes Price is at a good location on both pairs. We'll have to come back to it and check it later. Let's check some other pairs shall we?
Indicators show the past. Price Action "Indicates" the future.
  • #21,871
  • Feb 19, 2009 4:37am Feb 19, 2009 4:37am
Looking for a retrace to around the junction of the two trendlines....trendline break....price comes back to retest the trendline then look for PA to confirm
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  • #21,872
  • Feb 19, 2009 4:41am Feb 19, 2009 4:41am
Quoting tehuringa
Looking for a retrace to around the junction of the two trendlines....trendline break....price comes back to retest the trendline then look for PA to confirm
Very nice Dave. Your making Mike proud. lol
Indicators show the past. Price Action "Indicates" the future.
  • #21,873
  • Feb 19, 2009 4:47am Feb 19, 2009 4:47am
Quoting jarroo
Very nice Dave. Your making Mike proud. lol
Thanks Jim

  • #21,874
  • Feb 19, 2009 4:48am Feb 19, 2009 4:48am
theres a nice 4hr pinbar forming on Cable at the 38.2 Fib retrace.
  • #21,875
  • Feb 19, 2009 4:57am Feb 19, 2009 4:57am
Quoting jarroo
The 1.2500 is a very strong PPZ level. Take a look at the Monthly chart.
This is a great location for a Price Action setup to develop.

dkmbp92 is right it looks like a weak DBLHC. The Pin Bar next to it caught my eye. But its rather small, on the 4 hour and in traffic. Although you got to like it's location. A Daily and/or Weekly bar conformation would prove more promising.

Good eye Ray. Keep it going, you'll get there.

Jim
Thoses "B'" and "C" trades do work out sometimes, Ray. Tough to see them run when you don't trade them. Funny once I stop taking them, they work. lol
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #21,876
  • Feb 19, 2009 5:00am Feb 19, 2009 5:00am
Quoting tehuringa
Looking for a retrace to around the junction of the two trendlines....trendline break....price comes back to retest the trendline then look for PA to confirm
that is my 1st TP as i am long off the I4B. It also coincide with a 38fib. So will be watching this area carefully.
The only thing that concerns me is that there is still the gap that hasn't filled - i know it doesn't have to but - well u know the odds.
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  • #21,877
  • Feb 19, 2009 5:32am Feb 19, 2009 5:32am
Quoting simoncs
that is my 1st TP as i am long off the I4B....
Can someone please explain an I4B pattern to me. I allows thought it was 3 subsequent candles all of which are inside the range of a larger mother candle (the one marked with arrows).
Have I got it wrong?

Steve.
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"The more I practice, the luckier I get." (Gary Player)
  • #21,878
  • Feb 19, 2009 5:36am Feb 19, 2009 5:36am
look like very good place. still not close yet, but if close at pinbar i think very good ? any comment?
http://clip2net.com/clip/m11297/1235043312-clip-8kb.png
  • #21,879
  • Feb 19, 2009 5:40am Feb 19, 2009 5:40am
Quoting poplar
look like very good place. still not close yet, but if close at pinbar i think very good ? any comment?
I like this setup, fibo 50 retacement, . also a reasonble fibo confluence. can be better if touch the TLcan be better if touch the TL. well, lets see.

Hope I done the right analysis
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  • #21,880
  • Feb 19, 2009 5:45am Feb 19, 2009 5:45am
Quoting jarroo
Thoses "B'" and "C" trades do work out sometimes, Ray. Tough to see them run when you don't trade them. Funny once I stop taking them, they work. lol
If these Bs and Cs works when you stopped taking them, it just shows us that anything can happen in these markets!
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