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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

  • #25,841
  • Apr 2, 2009 8:57am Apr 2, 2009 8:57am
I agree, I would much rather take the trade to the upside when the opportunity comes. Just getting some thoughts. I'm knew at forex and the whole price action method so thanks for the info. Just doing everything I can to learn.

Quoting joebryce
That pin is pointing right into a lot of resistance which is not far enough away to allow any room to maneuver.
"Luck favors the prepared mind"
  • #25,842
  • Apr 2, 2009 9:00am Apr 2, 2009 9:00am
But GBP/JPY 4H pb could be good for 150 pips if it gets below 145
  • #25,843
  • Apr 2, 2009 9:02am Apr 2, 2009 9:02am
GBP/JPY also showing divergence on MACD
  • #25,844
  • Apr 2, 2009 9:03am Apr 2, 2009 9:03am
Quoting daveadamsbds
G J
I don't think what you are looking at is strictly an 8H pin-bar cos it does'nt open or close within the 'body' of the previous bar. Also potential support at 1.6550
good point
on 2nd thoughts and the fact that it did not close inside i will pass on this (mostly cos i am not in the right frame of mind today). I think it will go lower though and test the TL from the falling wedge. This is where i will look for PA to take me back long
  • #25,845
  • Apr 2, 2009 9:23am Apr 2, 2009 9:23am
Quoting daveadamsbds
G J
I don't think what you are looking at is strictly an 8H pin-bar cos it does'nt open or close within the 'body' of the previous bar. Also potential support at 1.6550
hi thanx for your input mate, what you say is correct and definatly puts it outside the A+ cat. and into the discresionary cat. As you say the gb/yen looks better and there is a high corrolation with these two pair which could leave one over exposed if you were to take them both
.lets see what happens,
jon
PATIENCE... DISCIPLINE
  • #25,846
  • Apr 2, 2009 9:34am Apr 2, 2009 9:34am
watching yen crosses..
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  • #25,847
  • Apr 2, 2009 9:42am Apr 2, 2009 9:42am
Not one that I'm going to be putting my $$'s on personally. I'd prefer to have seen this bar formed off the daily ppz a bit further north of this, as can be seen from a zoomed out chart. Also, upon breaking the low of the PB, price would have to battle through the highs of those bars to the left hand side. Not a I feel like getting involved in. Maybe if there was room to get my stop to BE, but not in this case.
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  • #25,848
  • Apr 2, 2009 9:54am Apr 2, 2009 9:54am
One chart 2 entries. 4h TP'd at 1.2536, Daily half off at 1.2450, stop to BE, rest left to run to final TP.
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  • #25,849
  • Apr 2, 2009 10:14am Apr 2, 2009 10:14am
Hi there,

I've read it before somewhere but couldn't find it again...there was a post that listed the different times when on different data feed the daily bars close.

I'm looking for a good, reliable feed that closes as early as possible, maybe arround the time the stock-markets in the us close.

Thank you,

Marco
  • #25,850
  • Apr 2, 2009 10:15am Apr 2, 2009 10:15am
Yes I'm still in this one g_j_hook even though with only 10% of my original position.

This one worked out quite nicely for me. I exited:

- 80% of the position at 1.2501 (major PPZ area of interest & prior day Low) +64 pips
-10% of the position at 1.2461 +100 pips
- 10% of the position - still holding for it to go to the moon...just kididng . Most likely it will go against me but I just want to give it a shot. I've cashed out most of my profits so I don't care that much about this little one.

Rubin.

Quoting g_j_hook@yah
is anyone still int he us/cad trade??
i closed 2/3 at +25 rest out at BE
back in at the retrace to the break price.managed to get 1% on with 20 pips stop. closd 1/2 for +46 moved stop to BE.. waiting again..
eu/nz short just triggerd as im typing @2.3130???
  • #25,851
  • Apr 2, 2009 10:17am Apr 2, 2009 10:17am
Hi guys

At page 1000 on second time round in thread. To summarise so far:

1. PA
2. PPZ
3. Patience
4. Discipline
5. MM

Master these elements and success will follow? Easy? no. Hard? yes. Achievable? yes. Thanks to Jim, Mike, Jarroo etc who show the way.

Myself? getting a hang of PA, PPz and MM. Work to do on Patience and discipline, probably the 2 most important qualities needed.

Only another 500 pages to go.

To be continued............
PA is where its at!!
  • #25,852
  • Apr 2, 2009 10:22am Apr 2, 2009 10:22am
Quoting bertie123
Hi guys

At page 1000 on second time round in thread. To summarise so far:

1. PA
2. PPZ
3. Patience
4. Discipline
5. MM
I'd put it the other way arround regarding the importance:

1. Discipline
2. MM
3. Patience
4. PPZ
5. PA
  • #25,853
  • Apr 2, 2009 10:25am Apr 2, 2009 10:25am
Quoting Marco
Hi there,

I've read it before somewhere but couldn't find it again...there was a post that listed the different times when on different data feed the daily bars close.

I'm looking for a good, reliable feed that closes as early as possible, maybe arround the time the stock-markets in the us close.

Thank you,

Marco
Here ya go

http://www.forexfactory.com/showpost...7&postcount=76
  • #25,854
  • Apr 2, 2009 10:48am Apr 2, 2009 10:48am
Quoting Marco
I'd put it the other way arround regarding the importance:

1. Discipline
2. MM
3. Patience
4. PPZ
5. PA
Marco,

Sorry I had no real order of importance! What you mention in your post is probably about right. Enjoy.
PA is where its at!!
  • #25,855
  • Apr 2, 2009 10:58am Apr 2, 2009 10:58am
imho, these are pair that I watched that are in area of interest. I'll will wait for PA to tip me where to go.
Do most all the areas are good? imho not all since there are some in traffic but we use our own discretion taught by J16 to filter. jmho.
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  • #25,856
  • Apr 2, 2009 11:08am Apr 2, 2009 11:08am
Quoting arcus
imho, these are pair that I watched that are in area of interest. I'll will wait for PA to tip me where to go.
Do most all the areas are good? imho not all since there are some in traffic but we use our own discretion taught by J16 to filter. jmho.
let the market come to you, like it arcus
  • #25,857
  • Edited 11:51am Apr 2, 2009 11:13am | Edited 11:51am
I'm still in Cad on the 2nd half. My 1st half was 32 pips. I have mentioned in an earlier post that I will give a little more leeway to an "A" category trade on the 2nd half. The key being, it's on the 2nd half.

So I moved my stop loss on the 2nd half 22 pips above my entry. To many times Price will retrace and test the break and then continue on.

I've done the same with the Eur/Chf.
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Indicators show the past. Price Action "Indicates" the future.
  • #25,858
  • Apr 2, 2009 11:16am Apr 2, 2009 11:16am
Nice charts Arcus, I'll 2nd Mike's comment.

Here's one on my watchlist:
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  • #25,859
  • Apr 2, 2009 11:16am Apr 2, 2009 11:16am
Quoting jarroo
I'm still in Cad on the 2nd half. My 1st half was 32 pips. I have mentioned in an earlier post that I will give a little more leeway to an "A" category trade on the 2nd half. The key being, it's on the 2nd half.

So I moved my stop loss on the 2nd half 22 pips above my entry. To many times Price will retrace and test the break and then continue on.

I've done the same with the Eur/Gbp.
Nice Jim! So lets see, do we break out of the bigger wedge, gas prices go back up to 4$ a gallon and dow goes back to 10k
  • #25,860
  • Edited 11:49am Apr 2, 2009 11:18am | Edited 11:49am
Eur/Chf 42 pips on the 1st half and then moved my stop loss on the 2nd half just below my entry about 20 pips.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
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