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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

  • #35,101
  • Jun 25, 2009 10:51pm Jun 25, 2009 10:51pm
Quoting PippingMama
Hello Jarroo,

Regarding the full bar break, I have interbank showing the high of the today is 1.1538, my window direct broker shows 1.1560.

I think they are closing at different time however the pin bar low are all the same 1.1523.

I use my Oanda broker to trade anyway, I am confusing which choice should I take if I need to manage the barbreak stoploss.

Which one will you choose?


Thanks!
Not sure I can answer that. Use whatever high of the day as your BarBreak stop loss. I would use the lower one.
Indicators show the past. Price Action "Indicates" the future.
  • #35,102
  • Jun 25, 2009 10:53pm Jun 25, 2009 10:53pm
hello nonick its good to see you.

im very proud of how your doing.

i didnt take the gbp. thats the one i should have taken.

bottom line is for my conservative trading i shouldnt have taken either.

its always bugs the hell out of me to lose.

my 11 year old asked his mother at dinner out tonight what i was mad about ( he can read me like a book) and she looked at him and said you know the answer to that.

he knew he was just trying to get a rise out of me.

i didnt take the bait but i promise it will be under my skin for several days at least.

losing brings back bad days and memories and i dont think i will ever shake it.

jim

Quoting nonick
hi jim,
i took that one also and closed one half at b/e,
the other half at -50, so this trade went for me about the same as it did for you (that makes me a little proud )i guess, two month ago, i would still be in this trade...
i was really hesitant to take it, since the low of that pin was right on a ppz that i have marked at 6375. But that pin looked strong enough to break it...
i'm also happy i closed it out...there's no reason to hold on a B- setup for too long, even with a small account.
i also wanted to tell this : i'm getting much more...
  • #35,103
  • Jun 25, 2009 10:53pm Jun 25, 2009 10:53pm
Quoting bundyraider
You'd be wanting a "winding up" look to them wouldn't you?
That's be my take on it. Like Jim's "Pyramid on it's side" analogy for the good i4bs etc.
Quoting jarroo
Yes, I agree. A tighting up to go KaBooM!
lol...
in simple terms, a tightly coiled spring releasing accumulated force by springing back out.
a.k.a.... a breakout.
  • #35,104
  • Jun 25, 2009 10:54pm Jun 25, 2009 10:54pm
Quoting jarroo
I would have to check with Dale on that. But I think its a pretty strict formation. If it doesn't seem right, as with all PA, it's an easy pass. Yes, on the Daily and Weeklies too.
I'm not Dale, but...

I only trade it when the 3rd bar is inside the 2nd (and both are inside the first)...haven't tested it any other way, so can't judge on the E/Cad setup. Great results when it is the way I mentioned though...

Josh
  • #35,105
  • Jun 25, 2009 10:54pm Jun 25, 2009 10:54pm
good for you.

KILL THE DAMN THING.

FAMOUS WORDS TO LIVE BY FROM RYAN.

Quoting PippingMama
I got busted for 30 pips on this one too, no regret at all. I was planned to put stoploss above today's high, but still decide to exit for 30 pips because I saw GOLF and Oil price is shooting up, I smell something wrong.

GET OUT! GET OUT!
  • #35,106
  • Jun 25, 2009 11:00pm Jun 25, 2009 11:00pm
Quoting ghous
I'll take note of it, thanks...
Still learning this new art.
Ghous.
another way of saying it is that, a support/resistance tested more than 2-3 times gets weak or loses its importance in time (& therefore this S/R may get broken in the future).

& yes, papa idol raczekfx is (at least) referring to countries like mine where +/- $500-1000/month salary/income is already very good (depending on your circumstance/s).
  • #35,107
  • Jun 25, 2009 11:01pm Jun 25, 2009 11:01pm


Quoting bundyraider
James,

Don't worry man. Losses are part of this business, and over time you will learn to accept that we can't be right every time.

You've improved tremendously. I remember when you started this thread so that others could help you with your trading. And look at you now...

You are going to make it in this business, man. Well done.
.
  • #35,108
  • Edited Jun 26, 2009 12:41am Jun 25, 2009 11:02pm | Edited Jun 26, 2009 12:41am
Quoting jarroo
True words of wisdom Josh. This is an easy "I'll pass" setup. But let's take a look at managing tight and see what happens. Should be fun.
I can see why jarroo took this. "naughty" jarroo
possible enormous potential if price goes down.

price having a hard time around 1.1570 -1.1640


EDIT: added charts below
the olive green box above is the cluster of bars in the 1.1570 -1.1640 area
the lower 2 boxes (dark slate gray color) are possible traffic areas below
365ema is yellow, 200ema red, 150ema chocolate
365ema halted the price rise on the H4. there are also Fibs/Fib clusters around price.
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  • #35,109
  • Jun 25, 2009 11:24pm Jun 25, 2009 11:24pm
Quoting james16
good for you.

KILL THE DAMN THING.

FAMOUS WORDS TO LIVE BY FROM RYAN.

Yep that's it, This forum does not pay my bills and I have to make my own money so if I dont kill the losers I may have to contact Bob with my head in shame lol Jim you still in that GBP/JPY? I am just going to ride them out for now on, either I win or lose it does not matter as long as it's over 50% and backtesting shows it well over 50% winners as long as I wait for RSI divergence and BB extremes
Keep taking CT trades, I need more money
  • #35,110
  • Jun 25, 2009 11:25pm Jun 25, 2009 11:25pm
Stop @ cost on the AUD/JPY, other still below the pin.
Keep taking CT trades, I need more money
  • #35,111
  • Jun 25, 2009 11:34pm Jun 25, 2009 11:34pm
Indeed, in my country too....

Quoting supremeChaos
..........
& yes, papa idol raczekfx is (at least) referring to countries like mine where +/- $500-1000/month salary/income is already very good (depending on your circumstance/s).
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #35,112
  • Jun 26, 2009 12:02am Jun 26, 2009 12:02am
does anyone have an indicator that lets you set multiple profit targets?
  • #35,113
  • Jun 26, 2009 12:15am Jun 26, 2009 12:15am
already bagged my g/j.

im such a wimp.

man im grooving to some chickenfoot.

ive waited over 20 freakin years for something like these guys.

im a classic rock nerd and im in chickenfoot heaven.

:nerd:

Quoting Ryanmcd
Yep that's it, This forum does not pay my bills and I have to make my own money so if I dont kill the losers I may have to contact Bob with my head in shame lol Jim you still in that GBP/JPY? I am just going to ride them out for now on, either I win or lose it does not matter as long as it's over 50% and backtesting shows it well over 50% winners as long as I wait for RSI divergence and BB extremes
  • #35,114
  • Jun 26, 2009 12:27am Jun 26, 2009 12:27am
Quoting ikki
Indeed, in my country too....
,
how poor (& corrupt) our countries are...
God bless our countries.


Quoting tormo
does anyone have an indicator that lets you set multiple profit targets?
tormo,
not sure but, i think there's one called "...... management EA". if i'm correct, it does exactly what u mentioned. I have read it somewhere.
search FF for it.
  • #35,115
  • Jun 26, 2009 12:30am Jun 26, 2009 12:30am
Indeed, E/J may be holding you back on the other crosses. Not sure it's ready to declare itself at this hour. G/J does look a bit week at the moment though. One could even argue that there is a short entry on my feed, but the location is poor. I agree that BB are still supportive.
  • #35,116
  • Jun 26, 2009 12:30am Jun 26, 2009 12:30am
Quoting ghous
Good job bro.

thnx ghous
was actually hoping to see 95 area
got stopped at BE by a pip when it came back the 2nd time,gave it some room the 1st time but since i was going to sleep moved it to BE
anyways next
Simplicity is the key to success
  • #35,117
  • Jun 26, 2009 12:32am Jun 26, 2009 12:32am
Quoting Ryanmcd
.....Jim you still in that GBP/JPY? I am just going to ride them out for now on, either I win or lose it does not matter as long as it's over 50% and backtesting shows it well over 50% winners as long as I wait for RSI divergence and BB extremes
do u mean u are waiting for BB extremes to be touched?
if so, i'm sure u know BB extremes don't always get touched by price.

The 'market manipulators' seem to have sold much above 158. upmove losing momentum. possible downmove may start in the near future.
  • #35,118
  • Jun 26, 2009 12:40am Jun 26, 2009 12:40am
Now we have the reverse of the intramarket analysis mentioned a few hours ago - USDCHF is bouncing up against resistance whiile EURUSD lags that area a bit. This result should hold a key to the European day perhaps, and could herald some of the cross activity.
  • #35,119
  • Jun 26, 2009 12:47am Jun 26, 2009 12:47am
Quoting supremeChaos
,
how poor (& corrupt) our countries are...
God bless our countries.



tormo,
not sure but, i think there's one called "...... management EA". if i'm correct, it does exactly what u mentioned. I have read it somewhere.
search FF for it.

I think you are looking for this

http://www.forexfactory.com/showpost...99&postcount=1
  • #35,120
  • Jun 26, 2009 1:36am Jun 26, 2009 1:36am
Quoting ikki
Indeed, in my country too....
Mine too...I'd be dancing around at 500$ a month.
I believe . . .
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