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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

  • #35,121
  • Jun 26, 2009 1:45am Jun 26, 2009 1:45am
Quoting squeezy
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
Well done on managing it expertly Squeezy, Never mind on a BE. They are winners!

Regards,
Ghous.
I believe . . .
  • #35,122
  • Jun 26, 2009 1:47am Jun 26, 2009 1:47am
anto,
Thanks. i think that's it.
maybe tormo's already checking it out.
  • #35,123
  • Jun 26, 2009 1:58am Jun 26, 2009 1:58am
Quoting james16
losing brings back bad days and memories and i dont think i will ever shake it.
Truth be told, you don't want to shake those memories. Its what keeps you sharp!
non si dimentichi mai
  • #35,124
  • Edited 2:57am Jun 26, 2009 2:41am | Edited 2:57am
Quoting tormo
does anyone have an indicator that lets you set multiple profit targets?
hi tormo, why not just open multiple possitions??
jon
PATIENCE... DISCIPLINE
  • #35,125
  • Edited 2:56am Jun 26, 2009 2:55am | Edited 2:56am
just on the MM topic..I generally open 2 positions with dif TP's..and manage things that way...BUT...I have would like a simple EA that will move my stop to BE at a predetermined level. I have the 'BE expert' but it seems to only work on one trade and leaves the other sitting there. Can anyone tell me either what I am doing wrong..or tell me where there is an EA that will move all trades on a pair to BE. That MM EA (hopwood) in earleir post gave me anxiety symptoms..jss!

L
All that matters is winning the week
  • #35,126
  • Jun 26, 2009 3:06am Jun 26, 2009 3:06am
Quoting TiaForex
Do you use %R money management Jim?

Is that 15 pip a fixed percentage of your account? You'd be swinging a big line if it was, right?
Risk is (should) always be the same %-wise; but with smaller/shorter SLs (where they are justified, i.e. make logical sense), you get better RR potential - price has to move less in your favour for the trade to work.
One Chart is Worth Ten Thousand Words.
  • #35,127
  • Jun 26, 2009 3:16am Jun 26, 2009 3:16am
Hi,

i have a little question ...

what are the categories of setup ... A, A+ A++ ???

i don't understand how you say this Pin bar is a A or A+ or A++ ..

i practise Price Action, and for me, there are some good and some not good
... according to their position (resistance, support, fib ....)

but i would like to know more about categories ...
thanks a lot if you have some links about that or a little explication ...

Nadine
  • #35,128
  • Jun 26, 2009 3:24am Jun 26, 2009 3:24am
meeting people like you ghous and others from around the world has forever changed my life.

i cant begin to describe the ways it has helped me to grow as a person.

two of my best friends own a convenience store near me and have built a nice real estate portfolio around it.

one is my age and he grew up in an orphanage in india.

his wife is from pakistan.

both have lived here for around 20 years.

i have watched their children grow up and there hard work turn them from struggling to pay the bills to fairly wealthy.

they love this country and state so openly and it always brings tears to my eyes when they start talking about how much they appreciate the oppurtunities america has provided them and there children.

after 9/11 my heart ached for them because i could see the fear in there eyes.

all they had worked for was very much in question and they were scared to death for there kids.

my community stood behind them and to this day (Sam/india) cant talk about it without crying. he has a flag in front of his store constantly.

i have learned that we are all the same. there are no differences between any of us no matter where we live. we are all humans living at different locations around the globe. thats it.

the only thing that seperates us is ignorance.

there is no country free of it including mine but its people like you and your parents (that you speak of) and similar countless millions from around the globe that must stand up and say no more.

i truly believe that the greatest thing the internet has done is to show us just how similar we all really are.

learning that thru this thread has been one of the greatest blessings of my life.





Quoting ghous
Well done on managing it expertly Squeezy, Never mind on a BE. They are winners!

Regards,
Ghous.
  • #35,129
  • Edited 3:45am Jun 26, 2009 3:29am | Edited 3:45am
nadid83,
it's a very subjective topic. 1 trader's A+ trade setup maybe somebody else's A or B+ setup.

Ideally, an A/A+ setup is price action on a good location, has good space (to the left of price), has 1 or 2 (or more) confluences (MACD/indicator divergence, PPZ, Fib confluence/cluster) etc.

Categorizing a setup as A, A+, B- etc, comes with experience. Continue to read posts in this thread (specially those of james16, jarroo, mbqb11, raczekfx etc) to get yourself acquainted with good PA setups. view charts posted by other members too, to learn if a particular setup is ideal or not.
  • #35,130
  • Jun 26, 2009 3:36am Jun 26, 2009 3:36am
Quote
i truly believe that the greatest thing the internet has done is to show us just how similar we all really are.

learning that thru this thread has been one of the greatest blessings of my life.

james16,
Amen to that
  • #35,131
  • Jun 26, 2009 4:19am Jun 26, 2009 4:19am
Quoting supremeChaos
Continue to read posts in this thread (specially those of james16, jarroo, mbqb11, raczekfx etc) to get yourself acquainted with good PA setups. view charts posted by other members too, to learn if a particular setup is ideal or not.
Thanks supremeChaos for your answer,
  • #35,132
  • Jun 26, 2009 4:25am Jun 26, 2009 4:25am
  •  kean
  • | Joined Sep 2008 | Status: James16group Lifetime Member | 92 Posts
Quoting TiaForex
Don't like either the UJ or the UCAD (that nose is just way too small and it's sitting on top of the round number).

Nothing for me tonight. Going to spend the weekend getting back ing ood shape physically and mentally.

We've got breakouts coming. And I bet price will move hard.
Hi Aaron,

I too had a good look at the USD/CAD, but decided against it. I got burnt a couple of weeks ago after talking myself into a pin in a good position with a small nose...learnt lesson though.
Also, when you say round number, do you mean the 1.15000?.. because I have a PPZ at 1.14700. In all, not worth taking...me thinks.

Kean
  • #35,133
  • Jun 26, 2009 4:43am Jun 26, 2009 4:43am
Quoting kean
Hi Aaron,

I too had a good look at the USD/CAD, but decided against it. I got burnt a couple of weeks ago after talking myself into a pin in a good position with a small nose...learnt lesson though.
Also, when you say round number, do you mean the 1.15000?.. because I have a PPZ at 1.14700. In all, not worth taking...me thinks.

Kean
Hi Kean. These PPZs are often so close to round numbers and that's where the orderflow often is. I do mean 1.15. I tend to always put my PPZs on these round numbers. In fact, try drawing lines with the really big round numbers (1.15, 1.2, 1.25 etc) on your chart and scroll back through time. You'll be really amazed.

It's totally possible to trade with only these round number lines and price action, especially intraday.
  • #35,134
  • Jun 26, 2009 4:44am Jun 26, 2009 4:44am
Quoting ghous
Well done on managing it expertly Squeezy, Never mind on a BE. They are winners!

Regards,
Ghous.
thnk u ghous
i also would be good with $500-$1000 a month as im from nigeria,africa
the exchange rate is about $1 to 170 my currency (and it jst dropped recently)
i wld be comfortable with that, even good to start a family with....lol
dats y im here, to learn how to fish ....
thank GOD for the internet, never would have thought of dis in a million yrs
thnk u guys, im realizing my dreams gradually
Simplicity is the key to success
  • #35,135
  • Jun 26, 2009 4:57am Jun 26, 2009 4:57am
There's something about the location of this which is interesting.
Now, if it were to form a 2-day pin.......
Attached Image(s) (click to enlarge)
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  • #35,136
  • Jun 26, 2009 4:59am Jun 26, 2009 4:59am
Quoting kean
Hi Aaron,

I too had a good look at the USD/CAD, but decided against it. I got burnt a couple of weeks ago after talking myself into a pin in a good position with a small nose...learnt lesson though.
Also, when you say round number, do you mean the 1.15000?.. because I have a PPZ at 1.14700. In all, not worth taking...me thinks.

Kean
yeh i have it recently just breaking my PPZ of 1.14-1.15 , so im looking for a long signal off this area...
Grabbing the bull by the horns!
  • #35,137
  • Jun 26, 2009 4:59am Jun 26, 2009 4:59am
Quoting james16
meeting people like you ghous and others from around the world has forever changed my life.

i cant begin to describe the ways it has helped me to grow as a person.

two of my best friends own a convenience store near me and have built a nice real estate portfolio around it.

one is my age and he grew up in an orphanage in india.

his wife is from pakistan.

both have lived here for around 20 years.

i have watched their children grow up and there hard work turn them from struggling to pay the bills to fairly wealthy.

they love this country...
Thank you for a great post Jim, you brought me to tears, honest to God I am touched.

Long live this thread!

Ghous.
I believe . . .
  • #35,138
  • Jun 26, 2009 5:03am Jun 26, 2009 5:03am
Quoting Interceptor
There's something about the location of this which is interesting.
Now, if it were to form a 2-day pin.......
thats where my eyes are focused at the moment
Grabbing the bull by the horns!
  • #35,139
  • Jun 26, 2009 5:24am Jun 26, 2009 5:24am
Quoting Jduester
Mike's slacking on this one, lol. I'll do my best. Here are some things that I'm seeing on this chart:

1. You are correct in saying we are in a traffic zone... Anytime you can put a horizontal line that crosses through 12 consecutive bars, you know you are in a high traffic, high congestion, highly indecision zone. What that means to me, is no trade, especially when the entry would be in the middle of the zone.

2. You'll find that FIB levels are better respected when we are trending, versus the action from the past 2 weeks.

3. We want to...
Man, this is why I love this thread. There are so many experienced people out there who are willing to help us newbies without shooting us down and making us feel like s**t. God bless you all.
  • #35,140
  • Jun 26, 2009 5:30am Jun 26, 2009 5:30am
USDCAD will be bumping some support in about 20 pips...will likely be tightening stops; no intention to reverse today though.
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