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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

  • #28,461
  • Apr 28, 2009 6:05pm Apr 28, 2009 6:05pm
Quoting Schneeule
I am a very good and profitable trader. I am confident about what am I intending to do.
Ok. I'll help you a little here. I made changes/edits (in red) to your post.
Read it few times a day, when you get up, when you go to work, bathroom, before you go to bed. It will make big difference in your trading in few months... When you change your thinking pattern, your life will change...

We are/become what we think we are!
  • #28,462
  • Apr 28, 2009 6:09pm Apr 28, 2009 6:09pm
What about eur/aud?
Wick not too long, but PA looks unable to go through strong RL.
Low traffic time now, so perhaps in 1H candle looks similar.
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Trading: the skill of avoiding trades
  • #28,463
  • Edited 7:21pm Apr 28, 2009 6:15pm | Edited 7:21pm
Quoting DanUK
Wow Jarroo! Really? That's like at 1:10(ish) Risk to Reward ratio. Am I understanding what you said correctly? If so I need to pay a lot more attention to you!! (Not to say I don't pay attention that is!!)

I have been playing around with using a 100 pip stop loss and anti-hedging it if the position goes against me but I'm with trend.

Did I interpret your post correctly?

Regards,

Dan
Trading to me is managing risk. This becomes soooooo much easier with the best of the best PA A+ setups. It doesn't bother me if a trade goes plus 30 pips and the stops me out at break even then goes 130 pips. I just say, the next one won't stop me out. If the next one does the same thing . . oh well, two break even trades in a row.
oh umm.
Indicators show the past. Price Action "Indicates" the future.
  • #28,464
  • Apr 28, 2009 6:37pm Apr 28, 2009 6:37pm
Quoting mbqb11
holy cow! there are some real beauties on that one!!! Those no one would argue A+++ on
Wow. I was thinking the same too. Was pretty close to drooling when I looked at that a while ago. lol

Interesting note... When I was back testing at one point, it was E/J that probably had the prettiest PA. ...At least that's the impression I still have. I
I remember bullish engulfing patterns were extraordinarily reliable on the pair. That's etched in there too.

A plain black on white chart can do magic too.
.
Bundy's status today: "Waiting..."
  • #28,465
  • Apr 28, 2009 6:44pm Apr 28, 2009 6:44pm
Howdy everyone,
I am a looong time lurker on this thread and I figured it was time to start being a little more interactive to accelerate my learning. I was logging in to make mention of and ask questions about the pin bar forming on the usd/jpy and it seems as though it has been noted here already. I am really encouraged because my chart markings match eswap0's quite closely. So as I understand it one could either enter this trade on a break of the previous bar or wait for price to break the previous bar high and then wait to get in on a retrace. Is that about right?
Also, since I have been reading this thread for months now I just want to say a big thankyou to all of the contributors and of course Jim for starting this thread. This method really resonates with me. Also, a couple months ago I corresponded with a few people that I located through FF regarding trading education and they were all super helpfull. There are a lot of really generous and knowlegable people on this forum; it's been an invaluable resource so far. Please forgive me if my attempt at attaching my chart goes awry, it's a first.
M
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  • #28,466
  • Apr 28, 2009 6:48pm Apr 28, 2009 6:48pm
Quoting raczekfx
p.s. If you short, just go easy on me... I'm trying to make some pips from long trades this morning on that buovb setup...
I can't remember the last time I entered on a plain strong BUB. Entered on 15m last night setting TP @ 1.3047. Damn. If I'd stayed up I'd have left half running.
Bundy's status today: "Waiting..."
  • #28,467
  • Apr 28, 2009 6:56pm Apr 28, 2009 6:56pm
Quoting Meum
Howdy everyone,
I am a looong time lurker on this thread and I figured it was time to start being a little more interactive to accelerate my learning. I was logging in to make mention of and ask questions about the pin bar forming on the usd/jpy and it seems as though it has been noted here already. I am really encouraged because my chart markings match eswap0's quite closely. So as I understand it one could either enter this trade on a break of the previous bar or wait for price to break the previous bar high and then wait to get in on a retrace....
Hey M

Welcome to the thread and glad to see you get involved.

The way I see usd/jpy is as follows and is not meant to shake anyone off their own analysis which we must all do. I have my style and I just share from my perspective.

I see the overall pin as small in size. A bigger pin shows a bigger reaction for me. Also the close was low down on the bar. Barely within the prior bar infact it closed to the pip of the low of the other bar. So technically a pin, but not by much. Next would be the location in terms of confluence. I don't see a trade off the area we are at as being very important. The last thing which one has to watch is the 97 area above. There are a lot of bar lows and highs around that area, so price might touch up and bounce down. Likewise though if it can get through 97 that might support it for a move higher.

Again this is just the thought processes I go through when trying to pick out a trade. A longer nose here and a better close and I would have been all for it. That would give me enough confidence to trade through the 97 area.

Best

Mike
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  • #28,468
  • Apr 28, 2009 6:57pm Apr 28, 2009 6:57pm
Quoting bundyraider
Wow. I was thinking the same too. Was pretty close to drooling when I looked at that a while ago. lol

Interesting note... When I was back testing at one point, it was E/J that probably had the prettiest PA. ...At least that's the impression I still have. I
I remember bullish engulfing patterns were extraordinarily reliable on the pair. That's etched in there too.

A plain black on white chart can do magic too.
.
This chart was great timing for the recent question about the aggregation of price bars. Just goes to show you

Mike
  • #28,469
  • Apr 28, 2009 7:14pm Apr 28, 2009 7:14pm
Quoting 4fun
I am waiting for this daily candle to close, I see 200pips from this level
Got in b/4 daily close @141.10, I agree with you Mike on us/jpy 97 harsh resistance to many daily lows stacked across there 4 me
  • #28,470
  • Apr 28, 2009 7:22pm Apr 28, 2009 7:22pm
Quoting mbqb11
Hey M

Welcome to the thread and glad to see you get involved.

The way I see usd/jpy is as follows and is not meant to shake anyone off their own analysis which we must all do. I have my style and I just share from my perspective.

I see the overall pin as small in size. A bigger pin shows a bigger reaction for me. Also the close was low down on the bar. Barely within the prior bar infact it closed to the pip of the low of the other bar. So technically a pin, but not by much. Next would be the location in terms of confluence. I don't see a trade...
Hey Mike! Hope you are getting over those allergies with some meds bro! Thanks for your thoughts on this potential trade. I couldn't trade this pair for many of the same reasons that you just mentioned. I'd also like to mention the possible psycological ramifications of NOT trading this set up. There is a fair possibility that the dollar will run up nicely against the yen over the next couple of days based on the PA scenario we see here. I need to be able to tell myself that it makes no difference on how I will evaluate a trade opportunity in the future. I will find myself in trades that meet strict criteria which is based on confluence, bar formation and room to move in my favor ONLY. The market will validate my "hunches" time and time again. I'll let that inflate my ego. Trades validating the disciplined and stringent choices that I make based on those superior bars in prime locations will inflate my trading account.


K.I.S.S.
  • #28,471
  • Apr 28, 2009 7:26pm Apr 28, 2009 7:26pm
Quoting KissFan
Hey Mike! Hope you are getting over those allergies with some meds bro! Thanks for your thoughts on this potential trade. I couldn't trade this pair for many of the same reasons that you just mentioned. I'd also like to mention the possible psycological ramifications of NOT trading this set up. There is a fair possibility that the dollar will run up nicely against the yen over the next couple of days based on the PA scenario we see here. I need to be able to tell myself that it makes no difference on how I will evaluate a trade opportunity in the...
Yep, I am always looking for reasons not to trade. When you have pins showing up across the board, I look for the best one and if it still passes the test then I trade. Example would be the pins on all the xxx/jpy pairs where I find the eur/jpy the best. The others I just watch. Will they probably end up doing what we expect. Sure, but is it worth the extra risk to be in all of them. Not according to my MM and trade plan.

Thanks allergies still brutal, hopefully clears up in a few days

Mike
  • #28,472
  • Apr 28, 2009 7:36pm Apr 28, 2009 7:36pm
Quoting raczekfx
Ok. I'll help you a little here. I made changes/edits (in red) to your post.
Read it few times a day, when you get up, when you go to work, bathroom, before you go to bed. It will make big difference in your trading in few months... When you change your thinking pattern, your life will change...

We are/become what we think we are!
Hehe, thanks man.
Btw, how do you know I go to the bathroom sometimes? Watching me closely ?

Eurjpy is running up, but it is time to sleep, some school exams in the morning . Looks powerfull
  • #28,473
  • Apr 28, 2009 7:38pm Apr 28, 2009 7:38pm
Quoting mbqb11
Thanks allergies still brutal, hopefully clears up in a few days
Soft.
Bundy's status today: "Waiting..."
  • #28,474
  • Apr 28, 2009 7:39pm Apr 28, 2009 7:39pm
Quoting bundyraider
Wow. I was thinking the same too. Was pretty close to drooling when I looked at that a while ago. lol

Interesting note... When I was back testing at one point, it was E/J that probably had the prettiest PA. ...At least that's the impression I still have. I
I remember bullish engulfing patterns were extraordinarily reliable on the pair. That's etched in there too.

A plain black on white chart can do magic too.
.
Oh No. The secret is out. Combining bars, while still using the strict criteria of Location and confluences. That's how I made 67,001 pips in 30 days.

Ok. . . made I'm over doing it a little. lol Heck it was probably you bundy that showed me them in the first place. lol

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #28,475
  • Apr 28, 2009 7:46pm Apr 28, 2009 7:46pm
Quoting Schneeule
Hehe, thanks man.
Btw, how do you know I go to the bathroom sometimes?...
You're human, right? So unless you're savage..., you have to use one from time to time...
  • #28,476
  • Apr 28, 2009 7:48pm Apr 28, 2009 7:48pm
Quoting raczekfx
You're human, right? So unless you're savage..., you have to use one from time to time...
....
  • #28,477
  • Apr 28, 2009 7:48pm Apr 28, 2009 7:48pm
Quoting jarroo
Oh No. The secret is out. Combining bars, while still using the strict criteria of Location and confluences. That's how I made 67,001 pips in 30 days.

Ok. . . made I'm over doing it a little. lol Heck it was probably you bundy that showed me them in the first place. lol

Jim
If so, then it is you grass hopper, that has become the master.
Bundy's status today: "Waiting..."
  • #28,478
  • Apr 28, 2009 7:48pm Apr 28, 2009 7:48pm
Quoting bundyraider
... Damn. If I'd stayed up I'd have left half running.
It happens often to me as well.. Hopefully, we'll be up for the plunge...
  • #28,479
  • Apr 28, 2009 7:55pm Apr 28, 2009 7:55pm
raczekfx,
swimming pool plunge or waterfall plunge?
  • #28,480
  • Apr 28, 2009 8:00pm Apr 28, 2009 8:00pm
mighty mighty snipers,
after having commented on it, any plans to incorporate the H16 chart into your arsenal?
I saw some 2-bar H16 trades there. does that mean H32 charts coming soon?! LOL


mbqb11,
allergies? why?
when did the breakout happened?
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