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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

  • #33,481
  • Jun 16, 2009 4:23am Jun 16, 2009 4:23am
Quoting supremeChaos
Autumm,
aside from the PPZs, confluences, etc, always be mindful of the bars/PA before the bar u are identifying. in your post, i'm talking about the HUGE bearish bar prior the PB which u identified. PBs do not always equate to a reversal: it may mean/show a temporary pause/consolidation which may be followed by the underlying trend (which currently is down; broke out downwards after a multi-day 97 - 99 range).

Also, note that your H4 candle (IBFX MT4) has approx 3.5 hours to go before it closes, so anything may happen.
Thanks for the advise. Im just started out on PA...
  • #33,482
  • Jun 16, 2009 4:24am Jun 16, 2009 4:24am
Alexandra,
yes, congratulations to u both, & to several others who've traded it silently.

I've edited my previous post, made some addition.
my next Q is:
Quote
LOL - Yes, I am am live - I've been at this a while

trading live for how long now?
3 - 5 years like some here?
  • #33,483
  • Edited 4:44am Jun 16, 2009 4:29am | Edited 4:44am
Quoting supremeChaos
Alexandra,
yes, congratulations to u both, & to several others who've traded it silently.

I've edited my previous post, made some addition.
my next Q is:


trading live for how long now?
3 - 5 years like some here?
Indeed, this is an excellent chance to breakdown a real time trade through the eyes of two different traders. Practically speaking, trailing this one below 133.90 seems appropriate as 135.50 is tested, from my view. Jarroo could be waiting for confirmatory daily/weekly PA on his short, or he may be satisfied with it and out already. I'll leave him to clarify, as that is the real teaching point here.

LOL - Yes, a long time. I have my 5 year pin....plus some
  • #33,484
  • Jun 16, 2009 4:30am Jun 16, 2009 4:30am
Someone posted a GU short earlier - but this is why i will be sticking to trend:
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  • #33,485
  • Jun 16, 2009 4:33am Jun 16, 2009 4:33am
and on another feed:
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  • #33,486
  • Jun 16, 2009 4:34am Jun 16, 2009 4:34am
Quote
Thanks for the advise. Im just started out on PA...

Autumm,
great choice of thread to be in --- james16! very few good threads in FF like this..

Just read & review previous posts (specially advisable to start from post #1), & take note of posts of the big guys (u'll know them once u've read the first & latest few hundred pages), they have been here for years. they are a very select few (i'm sure u know some them already), but they keep this thread running & worth reading over & over again.

Focus, Practice, Patience = future success
  • #33,487
  • Edited 6:02am Jun 16, 2009 4:38am | Edited 6:02am
Quoting Alexandra
Sorry for the delay - obviously we have had a move ongoing the last few minutes, and 134 has been taken out rather easily. Actually this is a nice real-time look for the readers at the various inputs/thoughts. Jarroo, chime in here on how you handled this one off of the weekly/daily chart, and I think we can show people something here through the last series of posts. We've both made nice trades here, but in opposite directions, as Chaos mentions.

LOL - Yes, I am am live - I've been at this a while
The Weekly Eur/Jpy I10+B was a great trade in every way. Nice strong break, obvious targets where in plain veiw (135.00 and 133.50), etc., to make this as easy as it gets. (Chart) Taking those targets, once they hit, was a no brainer. Making this a perfect example of a classic J16 trade.

I, on the other hand, am taking a more long term approach. Which may not be the right way to go. lolol. I have my stop loss above the 135.00. The deal you accept with long term trading is the huge pips swing that you have to endure, which could vanish on a single move.
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Indicators show the past. Price Action "Indicates" the future.
  • #33,488
  • Jun 16, 2009 4:38am Jun 16, 2009 4:38am
Quote
Silently? LOL - He posted the short idea on Sunday I believe. I posted the long at 133 and change....

Alexandra,
i was referring to the lurkers/lurking trade-takers, not jarroo.
I know there are a lot out there.

Quote
yes, congratulations to u both, & to several others who've traded it silently.
  • #33,489
  • Jun 16, 2009 4:43am Jun 16, 2009 4:43am
Quoting jarroo
The Weekly Eur/Jpy I10+B was a great trade in very way. Nice strong break, obvious targets where in plain veiw (135.00 and 133.50), etc., to make this as easy as it gets. (Chart) Taking those targets, once the hit, was a no brainer. Making this a perfect example of a classic J16 trade.

I, on the other hand, am taking a more long term approach. Which may not be the right way to go. lolol. I have my stop loss above the 135.00. The deal you accept with long term trading is the huge pips swing that you have to endure, which could vanish on a single...

Indeed, there you have it. That is quite helpful, especially on this highly volitile pair.

Chaos - no worries. That's what I thought you meant actually. I may just go back and edit that post, so there is no distraction.

Okay, we've made some pips and passed along some knowledge. Thanks Jaroo for chiming in and Chaos for facilitating. I'm off for a bit for some rest.
  • #33,490
  • Jun 16, 2009 5:27am Jun 16, 2009 5:27am
The next hourly close could potentially have some nice entries.
Pin Bars on GU, EU, AU, NU
DBL on EG, possible HC coming?
Throw some confluence on top and you might have something
  • #33,491
  • Jun 16, 2009 6:01am Jun 16, 2009 6:01am
Quoting C_g
The next hourly close could potentially have some nice entries.
Pin Bars on GU, EU, AU, NU
DBL on EG, possible HC coming?
Throw some confluence on top and you might have something
E/U ended up pin bar. I got in because because I was looking for a short entry after head and shoulders on daily. If this one drops it could drop hard.
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  • #33,492
  • Jun 16, 2009 6:36am Jun 16, 2009 6:36am
Quoting Betard
E/U ended up pin bar. I got in because because I was looking for a short entry after head and shoulders on daily. If this one drops it could drop hard.
this bull is making all against trend pins highly risky ...
pretty interesting h&s tho
  • #33,493
  • Jun 16, 2009 6:49am Jun 16, 2009 6:49am
Quoting Betard
E/U ended up pin bar. I got in because because I was looking for a short entry after head and shoulders on daily. If this one drops it could drop hard.
Agree and here it's another reason to short hope it work
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  • #33,494
  • Jun 16, 2009 7:00am Jun 16, 2009 7:00am
I am a cautious with the EU and did not get in yet this morning.
Once the H&S neck line was double crossed (back above) I became cautious.
I at least need the counter-trend line to be broken.
  • #33,495
  • Jun 16, 2009 7:23am Jun 16, 2009 7:23am
how do u like that break jaroo ?
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  • #33,496
  • Jun 16, 2009 7:33am Jun 16, 2009 7:33am
Lots of good action on 4h today!!!
Here is a little 4h Racz kind of trade on audcad 4h at 50/61.8fibs-ppz

Cheers

Mat
PS: That's not a pin (above arrow)
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  • #33,497
  • Jun 16, 2009 7:35am Jun 16, 2009 7:35am
Quoting raczekfx
That was just a breakfast...closing for now..
Another breakfast, but still no lunch.....
and so on and so forth.......
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  • #33,498
  • Jun 16, 2009 7:38am Jun 16, 2009 7:38am
Hi folks,

Got a handful of potential setups forming here...

Just kinda thinking out loud here so go with me..

Obviously not the end of the day here (UK) so anything could (and undoubtly will!) happen...

AUDCHF - plus side with the trend is around some long term (weekly) support - need to see where it finishes... not a massive nose tho..

NZDJPY - currently good looking pin with long nose... but in a area with plenty of noise.... no current trend - probabely not a viable trade

AUDCAD - not a bad pin but body is large (might get bigger by end of day) and lots of large bars surrounding it. probabely not a viable trade.

EURAUD - again pin nose not very big. but position looks good until you go to the weekly - long term PPZ possible bounce against pin? not sure to be honest. - As I am doubting this trade that should maybe be a sign..

CADJPY - reasonable pin size and has formed around PPZ - a lot of previous support & restance not far above it however so trade R:R may be compromised. Not sure on this yet... will revisit it in an hour or two.

EURCHF - Actually not sure how that got in there!! oh well

Any comments on the above?

cheers

Fat Tom
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  • #33,499
  • Jun 16, 2009 7:45am Jun 16, 2009 7:45am
hello

is this only a daily discussion about IB ?
  • #33,500
  • Jun 16, 2009 7:46am Jun 16, 2009 7:46am
Quoting Matiasfx
Lots of good action on 4h today!!!
Here is a little 4h Racz kind of trade on audcad 4h at 50/61.8fibs-ppz

Cheers

Mat
PS: That's not a pin (above arrow)
..
I passed on this one and picked runners.
longed eu, gu, ej and gj instead...
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