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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

  • #27,861
  • Apr 23, 2009 5:02am Apr 23, 2009 5:02am
Hi Guys

Still not seeing any worthwhile setups on the dailies (A+) yet so it is looking likely that week 1 of my initial 3 month period will result in no trades. The good thing is that I am not disappointed or frustrated because I am following my plan and have rejected a couple of trades which I would have taken in the past. I definitely feel I have taken a small step forward even although I have not taken any trades.

I have to say sometimes it is hard when you see others on this thread taking trades on the 4h and 1h and doing well with them too - the temptation is there to go down the TFs and look for an entry! However I am determined to stick to my J16 plan for 3 months and see where it takes me.

berti
PA is where its at!!
  • #27,862
  • Apr 23, 2009 5:46am Apr 23, 2009 5:46am
anyone notice that ?
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  • #27,863
  • Apr 23, 2009 6:17am Apr 23, 2009 6:17am
Quoting jarroo
Saw the same thing on the Eur/Gbp a few weeks ago, although they were on the Daily. (blue check marks)
Hi Jarroo

Just wanted to ask if the orange and green Horizontal lines on your charts are PPz's? Is one colour major and the other minor(green)?

thanks,

berti
PA is where its at!!
  • #27,864
  • Apr 23, 2009 6:25am Apr 23, 2009 6:25am
Quoting onmyself
anyone notice that ?
Hi O,

If you combined those two bars then the new combined bar would have it's close price around the middle of the range making it a neutral bar. ...On your providers chart at least.

On your ONE day chart you have an inside bar, btw
Bundy's status today: "Waiting..."
  • #27,865
  • Apr 23, 2009 6:34am Apr 23, 2009 6:34am
Quoting bundyraider
Hi O,

If you combined those two bars then the new combined bar would have it's close price around the middle of the range making it a neutral bar. ...On your providers chart at least.

On your ONE day chart you have an inside bar, btw

thaks got it
  • #27,866
  • Apr 23, 2009 7:50am Apr 23, 2009 7:50am
Closed shorts b4 news. 4hr bull pin on $ index and oil is overbought on lower tfs, however Dow futures are up, and the loony itself is at a turning point and can't make the decision to go with the ascending triangle false breakout notion, or make the down channel home for the next few days, indecision is reflected in price action, I'm flat for now.
Money & Pain Respect the market, protect your capital, be patient
  • #27,867
  • Apr 23, 2009 8:14am Apr 23, 2009 8:14am
interesting
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  • #27,868
  • Apr 23, 2009 8:39am Apr 23, 2009 8:39am
What do you guys think? I'd like it a lot better if the 5 bars preceding it didn't exist . . . plus the pin could be a little lower . . .
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"Don't trade to trade . . . trade to win." - James16
  • #27,869
  • Apr 23, 2009 8:40am Apr 23, 2009 8:40am
Quoting sertio
interesting
Watching this on Alpari which could well finish (in 20mins) as a BEOB and a close below 1.30.
Could be very interesting...
"The more I practice, the luckier I get." (Gary Player)
  • #27,870
  • Apr 23, 2009 8:43am Apr 23, 2009 8:43am
Quoting bertie123
Hi Guys

Still not seeing any worthwhile setups on the dailies (A+) yet so it is looking likely that week 1 of my initial 3 month period will result in no trades. The good thing is that I am not disappointed or frustrated because I am following my plan and have rejected a couple of trades which I would have taken in the past. I definitely feel I have taken a small step forward even although I have not taken any trades.

I have to say sometimes it is hard when you see others on this thread taking trades on the 4h and 1h and doing well with them...
Hi Bertie,

I too am a newb at this stuff. Luckily, I found this thread before I lost too much trying to scalp on the shorter timeframes. Since finding this thread about a month ago, I have taken just one trade (a weekly pb) that earned me 200 pips. I am more than happy with that. If I can keep disciplined enough to avoid pulling the trigger at anything but the best setups at the most conservative entry points, I am sure that I will build my account to the level where 200 pips a month is all I ever need. I agree that its hard to resist the temptation, though. Maybe its because I was attracted to the idea of making 10-20 pips a day on Forex. It kind of makes you feel like you have to trade every day or you're not making enough pips. I'm convinced, thanks to this thread, that that is something that must be resisted at all costs.
  • #27,871
  • Apr 23, 2009 8:59am Apr 23, 2009 8:59am
I see a 8hr pinbar on the EUR/USD. I would have wanted to see it testing the PPZ zone above it better. There might be too much traffic too.

For the GBP/CHF I see it bouncing off the PPZ, nice pinbar, but maybe too less room to run.

You guys watching it too?
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  • #27,872
  • Apr 23, 2009 9:07am Apr 23, 2009 9:07am
Quoting mrsingha
Watching this on Alpari which could well finish (in 20mins) as a BEOB and a close below 1.30.
Could be very interesting...
Well we didn't get either but you're quite right Artov, it is an 8 hour pin which does have a low below 1.30.
"The more I practice, the luckier I get." (Gary Player)
  • #27,873
  • Apr 23, 2009 9:12am Apr 23, 2009 9:12am
Hey Jim,

I actually missed this sweet EUR/GBP trade because I usually cancel my orders if it didn't trigger the next day. Do you do the same? It would have hit my target exactly at...oh well I can't get them all. At least I think someone here got in.

On a separate note: Do you ever sleep? That's one of my weaknesses...I like to sleep at night (East Coast) so if something triggers during London hours I won't know until 8AM....and lots can happen overnight...

Rubin.


Quoting jarroo
Did you take the trade? I was just wondering because I missed it.

This BUOB engulfing a couple of Daily candles (pretty close to the same size with a 3rd candle), at a swing Low and a supportive touch of the 150 ema as you mention, sure brought about a nice PA setup.

Talk about a break that never looks back, this one was it. The 30min shows the hard and fast break.

Could it really be this simple?
  • #27,874
  • Apr 23, 2009 9:34am Apr 23, 2009 9:34am
Quoting artov
I see a 8hr pinbar on the EUR/USD. I would have wanted to see it testing the PPZ zone above it better. There might be too much traffic too.

For the GBP/CHF I see it bouncing off the PPZ, nice pinbar, but maybe too less room to run.

You guys watching it too?

The EU is not the best setup but this doesn't mean is not tradable; personally i'd play it at the the break of 1.2980, then there is space to 1.2920.

Look at the chart with my personal opinion.
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  • #27,875
  • Apr 23, 2009 9:34am Apr 23, 2009 9:34am
USD/CAD responds to oil inventories NEWS!
ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #27,876
  • Apr 23, 2009 9:36am Apr 23, 2009 9:36am
Quoting Almfx
USD/CAD responds to oil inventories NEWS!
ALM
Wasn't riding it, too risky
Money & Pain Respect the market, protect your capital, be patient
  • #27,877
  • Apr 23, 2009 9:40am Apr 23, 2009 9:40am
Quoting bakko85
The EU is not the best setup but this doesn't mean is not tradable; personally i'd play it at the the break of 1.2980, then there is space to 1.2920.

Look at the chart with my personal opinion.
me too,
jon
PATIENCE... DISCIPLINE
  • #27,878
  • Apr 23, 2009 9:41am Apr 23, 2009 9:41am
Mmm..a PA signal would be wonderful for this cross..
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  • #27,879
  • Apr 23, 2009 9:46am Apr 23, 2009 9:46am
there you go bros!!
PATIENCE... DISCIPLINE
  • #27,880
  • Apr 23, 2009 9:58am Apr 23, 2009 9:58am
Quoting TotalNewbie
Hi Bertie,

I too am a newb at this stuff....
wow that is awesome discipline so fast !
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