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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

  • #27,001
  • Apr 14, 2009 10:20pm Apr 14, 2009 10:20pm
Quoting forexngo
Is it the nice pin bar, please?
Appreciation for what you correct me
Thanks

Dude

Looks like you're showing an understanding of the material but it's halfway through the month so there's ages to go until this bar closes. So the shape of the bar could dramatically change from now until the end of the month therefore asking about the bar now seems fruitless.

Mate please don't think I'm having a go at you but at least read a little more through the thread, you'll help yourself immensely.

good luck

Letitride
  • #27,002
  • Apr 14, 2009 10:33pm Apr 14, 2009 10:33pm
Quoting forexngo
Is it the nice pin bar, please?
Appreciation for what you correct me
Thanks
is it the DBHLC? please, experienced traders here give me an advice for enter strategy.
Thank you
forexngo
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  • #27,003
  • Apr 14, 2009 10:39pm Apr 14, 2009 10:39pm
Quoting forexngo
is it the DBHLC? please, experienced traders here give me an advice for enter strategy.
Thank you
forexngo
I'm not really an experienced trader but I did take this trade. I viewed it as a two part pin bar and not a DBHLC because the highs were 6 pips apart on mine and I don't trade DBHLC anyway. It went through my .7300 PPZ that I drew from the weekly chart.

I entered short at 0.7175 with a SL at 0.7319. I am waiting until it is up 40 pips so I can move SL to BE.
  • #27,004
  • Apr 14, 2009 10:44pm Apr 14, 2009 10:44pm
Quoting forexngo
is it the DBHLC? please, experienced traders here give me an advice for enter strategy.
Thank you
forexngo
That is not a DBHLC, your bars are flipped. Here is one of my posts that shows the DBHLC.
http://www.forexfactory.com/showpost...ostcount=26988
You can click on the image to zoom in.

Here is a link to a PDF document with all the Price Action.
http://www.forexfactory.com/showpost...ostcount=26401
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #27,005
  • Apr 14, 2009 10:46pm Apr 14, 2009 10:46pm
It's good to ask questions. I just wanted you and others to know that it is a long process, BUT you really need to start from page #1 and work your way through. Everything is explained at least a few times. Trust me I hate reading for the most part, although I can't stop reading this thread. There is so much good information here.

Quoting forexngo
Big Thanks! I am newbie....then seems it make me big confused for too much reading at once time. Hope you don't mind with questions from idiot like me
  • #27,006
  • Apr 14, 2009 11:51pm Apr 14, 2009 11:51pm

10 mins from close i like this GJ pin on the H1.
Thoughts ?

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  • #27,007
  • Apr 14, 2009 11:54pm Apr 14, 2009 11:54pm
Quoting pipmyride

10 mins from close i like this GJ pin on the H1.

Thoughts ?


If it is closing like your picture it looks great...Like the fact the wick is large compare to the previous fall and the location is sweet. The only thing I dont like yet its the time the trade is being given so I will step aside simply because of that ....
  • #27,008
  • Apr 14, 2009 11:57pm Apr 14, 2009 11:57pm
Quoting pipmyride

10 mins from close i like this GJ pin on the H1.
Thoughts ?

Same thing on EUR/JPY 130.00 level.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #27,009
  • Apr 15, 2009 12:01am Apr 15, 2009 12:01am
Closed pin:
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  • #27,010
  • Apr 15, 2009 12:07am Apr 15, 2009 12:07am
Quoting pipmyride
Closed pin:
Yep closed ugly in my opinion. Nice wick but crappy close...so its not a trade I would take ...
  • #27,011
  • Apr 15, 2009 12:13am Apr 15, 2009 12:13am
Quoting Shermenator
Yep closed ugly in my opinion. Nice wick but crappy close...so its not a trade I would take ...
Sorry ? Whats wrong with the close ? Pretty large pin isn't it ...
  • #27,012
  • Apr 15, 2009 12:17am Apr 15, 2009 12:17am
is it true james 16 use minimum daily chart?
  • #27,013
  • Apr 15, 2009 12:28am Apr 15, 2009 12:28am
Quoting [LEFT

pauren

[/left];2669739]is it true

james

16 use minimum daily chart?

Did you read the minimum requirements on page one?

Starting on daily is highly recommended.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #27,014
  • Apr 15, 2009 1:38am Apr 15, 2009 1:38am
audjpy - beob with target of bar lows - set and sleep aka RustyJeff style

audusd - 2 bar pin on daily coincided with break of 4hr rising wedge

also in gbpusd - double top divergence
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  • #27,015
  • Apr 15, 2009 2:59am Apr 15, 2009 2:59am
after blowing another small account I've seen the light....

I've been trading using free bonus money and small accounts for about a year now, every one is blown....

with only £100-£200 in the account its impossible to stop overtrading - trying to increase the account. the stop placements cannot allow proper money management and its psychologically challenging......try it - near impossible.

so for now I will demo demo demo until I can save for a £1000 account to try again.
  • #27,016
  • Apr 15, 2009 3:04am Apr 15, 2009 3:04am
Quoting advfntrader
so for now I will demo demo demo until I can save for a £1000 account to try again.
The better approach will be "to demo until I now 100% what and why I am doing" To reach that stage could take (much) longer than to simply save another £1K to blow
One Chart is Worth Ten Thousand Words.
  • #27,017
  • Apr 15, 2009 3:08am Apr 15, 2009 3:08am
Quoting advfntrader
after blowing another small account I've seen the light....

I've been trading using free bonus money and small accounts for about a year now, every one is blown....

with only £100-£200 in the account its impossible to stop overtrading - trying to increase the account. the stop placements cannot allow proper money management and its psychologically challenging......try it - near impossible.

so for now I will demo demo demo until I can save for a £1000 account to try again.
hi there, you could try oanda,where you can trade 1 unit if you like!!
also you could try counting profits in pips and not money as the small amounts involved make it very hard to value the $1.50 in profits you may have floating.??
jon
PATIENCE... DISCIPLINE
  • #27,018
  • Apr 15, 2009 3:09am Apr 15, 2009 3:09am
yes I will have to do that as well. I should demo with exactly the amount I plan to go live with if possible.


Quoting Forex007
The better approach will be "to demo until I now 100% what and why I am doing" To reach that stage could take (much) longer than to simply save another £1K to blow
  • #27,019
  • Apr 15, 2009 3:34am Apr 15, 2009 3:34am
Quoting advfntrader
yes I will have to do that as well. I should demo with exactly the amount I plan to go live with if possible.
Don't think about the money at this stage. Even £5K will not allow you to trade "for a living" (at least not any time soon).
One Chart is Worth Ten Thousand Words.
  • #27,020
  • Apr 15, 2009 3:52am Apr 15, 2009 3:52am
Quoting jarroo
I would like to give my take on these PA setups. I didn't take any of these setups.

First the Daily/Weekly PPZs which you have indicated. Heres' mine. (Chart 1)

This is how I would rate them.(Chart 2)

The A+ setup is at a swing Low, off a Daily/Weekly PPZ, with some nice space, size is good compared to previous bars and with a nice hard break at the break. This is what we look for.

The C- setup was off a D/W PPZ but no space (in traffic) and not at a swing Low. Nice hard break at the break. Price Action is a powerful thing at times and...
I thought I would revisit this post I did on March 19th on the 4 hour Gbp/Jpy of this year. It was a quick summary of rating these PBs at the time.

The B- set up would be an "A" if you followed #4 of James16's "This is Critical".

But the A+ trade really stands out.

Question? Is there any other trades that you can find on the Gbp/Jpy, 4 hour time frame from the beginning of the year that stands out like this A+ setup?
I found maybe 3.
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Indicators show the past. Price Action "Indicates" the future.
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