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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

  • #34,461
  • Jun 23, 2009 10:57am Jun 23, 2009 10:57am
Quoting kinsja
Hi,
I've just recently joined the group and have spend the last week or so reading the thread from the start to about p150. I think I've got the idea, and have entered my first PB based trade. 2 lots long. Where do I get out? Currently up 100pips. Daily chart has the PB bouncing off the bottom of a upward channel.

Thanks, Jason

I hope the attachment worked.
Nice trade Jason
  • #34,462
  • Jun 23, 2009 11:10am Jun 23, 2009 11:10am
Quoting g_j_hook@yah
glad to help. my stops were above the previous bars highs(the bar before the ib)and yes entered on the break, this is agressive enough for me.the 1h TF is agressive alone.
all possitions are closed

jon
sorry dnt know hw to quote 2 or more replies, thnx jon and 4fun for ur replies, ive tried these kind of trades once or so, need to put them into more practice,...ill let u guys kno how they come about

ps: had a loss today after a while.... on euraud 8h pin, had a SL i thought was tight but not tight enough, lost about 70pips...ouch! ( needed a reality check, been on a winning spree for a while now)
shld hav used my 30-40pips tight stop ( dnt know y i changed it to 70pips)
noticed the momentum in the opposite direction but still left it...
cheers guys
Simplicity is the key to success
  • #34,463
  • Jun 23, 2009 11:23am Jun 23, 2009 11:23am
Quoting ghous
Last chart for the day...

Gu...again no fancy indicators just a good understanding of horizontal supp/res levels...and...A PLAN,

Ghous.
Damn nice trade Ghous here is my chart never pulled trigger to much commotion at my casa good 4 you!!
Attached Image
  • #34,464
  • Jun 23, 2009 11:28am Jun 23, 2009 11:28am
is it only me who is not seeing any trade setups on the daily time for the past couple of weeks?

or am i just completely missing them

the last trade i took was weekly pin bar on Gbp/Usd and got badly burnt on that, that trade was in profit for +115 at one time, tought me a valuable lesson to move stops to BE and MM, lost 7% of my account.


sohail
  • #34,465
  • Jun 23, 2009 12:04pm Jun 23, 2009 12:04pm
Quoting Sohail786
is it only me who is not seeing any trade setups on the daily time for the past couple of weeks?

or am i just completely missing them

the last trade i took was weekly pin bar on Gbp/Usd and got badly burnt on that, that trade was in profit for +115 at one time, tought me a valuable lesson to move stops to BE and MM, lost 7% of my account.


sohail
It happens. A few months back we went almost a full month without a decent daily setup - and BAM - 4 or five in just a couple days at the end of the month. If you can hold on till they present themselves, you'll be making very good money as a result.
I'm pretty much done with all this ...
  • #34,466
  • Jun 23, 2009 12:09pm Jun 23, 2009 12:09pm
Quoting 4fun
Damn nice trade Ghous here is my chart never pulled trigger to much commotion at my casa good 4 you!!
I was noodling on a blind entry - but being a chicken-man, I did not.

Did anyone enter this blind? Just curious.

So far, nice trade off of the PB. Almost at 1R.

I like this four hour stuff. I can do it at work without missing doing my job... In fact, I made more watching those dumb little lines today than I will all week at the salt mine.
I'm pretty much done with all this ...
  • #34,467
  • Jun 23, 2009 12:13pm Jun 23, 2009 12:13pm
Quoting StoragePro
It happens. A few months back we went almost a full month without a decent daily setup - and BAM - 4 or five in just a couple days at the end of the month. If you can hold on till they present themselves, you'll be making very good money as a result.


The patient man is the man that survives.
  • #34,468
  • Jun 23, 2009 12:14pm Jun 23, 2009 12:14pm
Looking at this hmmmm

(the fibs are not the best since i like clean impulses and the pin its kind of small but let see)

Cheers

Mat

PS: Aaron, i hope this pin helps your daily one
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  • #34,469
  • Jun 23, 2009 12:17pm Jun 23, 2009 12:17pm
So far so good.
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Never underestimate an idiot.
  • #34,470
  • Jun 23, 2009 12:21pm Jun 23, 2009 12:21pm
Money management is the first thing one needs to learn before trading any system. 7% is very high. Just be patient and take the high quality setups, sometimes months will be slow with dailies, but if you nail them, they are worth it.


Quoting Sohail786
is it only me who is not seeing any trade setups on the daily time for the past couple of weeks?

or am i just completely missing them

the last trade i took was weekly pin bar on Gbp/Usd and got badly burnt on that, that trade was in profit for +115 at one time, tought me a valuable lesson to move stops to BE and MM, lost 7% of my account.


sohail
  • #34,471
  • Jun 23, 2009 12:25pm Jun 23, 2009 12:25pm
Quoting Matiasfx
Looking at this hmmmm

(the fibs are not the best since i like clean impulses and the pin its kind of small but let see)

Cheers

Mat

PS: Aaron, i hope this pin helps your daily one
Already out Matt, already out.

Decided to cut my risk and so moved up and took a smaller loss. Not a big worry with my style which has lower win rate higher RR.

But it'd be nice to see a winning streak soon....
  • #34,472
  • Jun 23, 2009 12:29pm Jun 23, 2009 12:29pm
Quoting Matiasfx
Looking at this hmmmm

(the fibs are not the best since i like clean impulses and the pin its kind of small but let see)

Cheers

Mat

PS: Aaron, i hope this pin helps your daily one
What I seem to be drawing my attention on is the last time price made a low here. Not sure what you're referring to as a falling knife but I assume you're talking abt the huge selling pressure.

The last time price made a low here it occurred almost entirely of a single 4H BEOB. That was some serious selling pressure. I see no reason why Price can't do that again...
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I believe . . .
  • #34,473
  • Jun 23, 2009 12:29pm Jun 23, 2009 12:29pm
someone looking at this?
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  • #34,474
  • Jun 23, 2009 12:32pm Jun 23, 2009 12:32pm
Quoting bobster
I see you have swallowed your pride and become a James16 chick.

or maybe he just got tired of printing money all day, but sitting in front of screens. And now he is trading in a more relaxed way to enjoy all the money

Mat
  • #34,475
  • Jun 23, 2009 12:35pm Jun 23, 2009 12:35pm
Quoting ghous
Not sure what you're referring to as a falling knife but I assume you're talking abt the huge selling pressure.

Hey Ghous, yes i mean those huge bearish bars showing the selling preassure. Thats a falling knife

But, let see....

Cheers
  • #34,476
  • Jun 23, 2009 12:41pm Jun 23, 2009 12:41pm
Quoting teodosy87
someone looking at this?
Looks good Teo,

Let's see if it can break hard...

If it does I am looking at the 8530 region as the first hurdle.

Regards,
Ghous.
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I believe . . .
  • #34,477
  • Jun 23, 2009 12:42pm Jun 23, 2009 12:42pm
Easy Guys, I don't know why sometimes others need to judge anyone. We are all here for the same motivations. Lets keep this civil and about learning. Everyone is welcome to do what works for them, that is the beauty of life and the markets


Quoting Matiasfx
Hey Ghous, yes i mean those huge bearish bars showing the selling preassure. Thats a falling knife

But, let see....

Cheers
Yes the big bearish bars, always "trump" smaller reversal bars for me. That doesn't mean you can't play them but from my experience you have to take into consideration this "pressure". That means we have to be aware of the closer trouble areas, that if the wind is at our back. 1.75 is a strong area, but this could just be a pause. I marked up a chart a bit.


Best
Mike
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  • #34,478
  • Jun 23, 2009 12:43pm Jun 23, 2009 12:43pm
Quoting ghous
Looks good Teo,

Let's see if it can break hard...

If it does I am looking at the 8530 region as the first hurdle.

Regards,
Ghous.

Still long on this off the Daily, it had a nice divergence long.
Keep taking CT trades, I need more money
  • #34,479
  • Jun 23, 2009 12:43pm Jun 23, 2009 12:43pm
Quoting ghous
Looks good Teo,

Let's see if it can break hard...

If it does I am looking at the 8530 region as the first hurdle.

Regards,
Ghous.
Hey Ghous which broker do you use : }
  • #34,480
  • Jun 23, 2009 12:46pm Jun 23, 2009 12:46pm
Quoting mbqb11
Easy Guys, I don't know why sometimes others need to judge anyone....
Ah I see, I guess it's a term used in the pf cuz I haven't heard it here...

So what do we call strong bull pressure, a rising rocket or what?
I believe . . .
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