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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

  • #38,821
  • Jul 24, 2009 8:49am Jul 24, 2009 8:49am
I am thinking about waiting for the range to tighten, and play a break.

Thoughts?
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  • #38,822
  • Jul 24, 2009 9:06am Jul 24, 2009 9:06am
Quoting ghous
Overall trend's down...

Ghous.
Ghous,

Thanks very much for pointing this obvious one out (I'll get my coat...)

I guess I just saw the consolidation and didn't put much weight on the longer term action

Thanks again Ghous...!!!

Fat Tom
  • #38,823
  • Jul 24, 2009 9:17am Jul 24, 2009 9:17am
Quoting deepdish
I am thinking about waiting for the range to tighten, and play a break.

Thoughts?
That would be great, and IMO would count as the best play strategy for current PA.

I wouldn't be surprised if Mike's onto this one with interest,

Ghous.
I believe . . .
  • #38,824
  • Jul 24, 2009 9:17am Jul 24, 2009 9:17am
Quoting fat_tom
Ghous,

Thanks very much for pointing this obvious one out (I'll get my coat...)

I guess I just saw the consolidation and didn't put much weight on the longer term action

Thanks again Ghous...!!!

Fat Tom
lol

Anytime
I believe . . .
  • #38,825
  • Jul 24, 2009 9:24am Jul 24, 2009 9:24am
So here's my 3rd for the month.

Eur/Cad 4h IB.

Swing low, (long term support zone) bullish divergence, lot's of space.

The hard and fast break was impressive, and went along for a good 30 pips. One thing I know is that on the 4H I should not have in any way allowed this to come back and hurt me,

Perhaps it was the lack of any major hindrances till 1.56 which made me ease down a bit.

Posting it up as a lesson for myself and all...RULES HAVE TO BE FOLLOWED!

Regards,
Ghous.
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I believe . . .
  • #38,826
  • Jul 24, 2009 9:46am Jul 24, 2009 9:46am
Quoting batesmotel
lol....I guess If I was in their position, I'd do the same thing....BTW is there such a thing as female FX trader groupie?

GregB
good question...LOL!!!
  • #38,827
  • Jul 24, 2009 10:01am Jul 24, 2009 10:01am
Quoting ghous
So here's my 3rd for the month.

Eur/Cad 4h IB......
Ghous,

Respect for posting losing trades. like I said in my previous post I often think its these we learn from as opposed to winners.... thanks for sharing



Fat Tom
  • #38,828
  • Jul 24, 2009 10:07am Jul 24, 2009 10:07am
Quoting ghous
As far as bar shape is concerned sure is...

But again that's probably less important than the fact that it occurred during a consolidating period, with one heck of a spatial concern, but was probably very much tradable as I see it bouncing off the "range floor".

Anyways an order should never have been triggered as the high never broke...one of those setups which could turn out to be interesting and fruitful if they play out, other times when they don't give you a good hard break you move on...

Overall trend's down...

Ghous.

One of the amazing things about the material is you can profit in a consolidating market. For me this is a good setup, IF it breaks it will go to the top of the range. If not then it may be played as a 2 bar low.
I hear and I forget. I see and I remember. I do and I understand.
  • #38,829
  • Jul 24, 2009 10:16am Jul 24, 2009 10:16am
Quoting ghous
The hard and fast break was impressive, and went along for a good 30 pips. One thing I know is that on the 4H I should not have in any way allowed this to come back and hurt me.
Why do you feel that you should have moved your stop (I am assuming that's what you mean from reading the last sentence) after only 30 pips? Seems a tad unfair to not allow room for price movement.

Not criticizing by any means; just trying to understand your position.

-G
  • #38,830
  • Edited 10:38am Jul 24, 2009 10:17am | Edited 10:38am
Quoting aarangio
Wooooo Hoooooo!!..

i'm so excited!!....
Then again....maybe i just got lucky!!!!
Congrats... luck also has to be earned ..
Just like mine..(attached below)
.
Quoting LasVahGoose
You ever thought about being a J16 instructor?
No, there are better champs..


This is my last post on this thread for some time, ...at least until things here settle.

Be well. Trade well.

R
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  • #38,831
  • Jul 24, 2009 10:22am Jul 24, 2009 10:22am
Take care...

G

Quoting raczekfx
............
This is my last post on this thread for some time, ...at least until things settle.

Be well. Trade well.

R
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #38,832
  • Jul 24, 2009 10:28am Jul 24, 2009 10:28am
Quoting tac
One of the amazing things about the material is you can profit in a consolidating market. For me this is a good setup, IF it breaks it will go to the top of the range. If not then it may be played as a 2 bar low.
A 2 bar low probably yes, but as is often true in a consolidating market there are spatial concerns down south too...

Look at 1.06 for a ppz on the weekly, I would be very very cautious of going short until we can safely see through 1.06, even if that means skipping the TBL altogether...

I would then rather be happy with a pullback short trade to the 1.06 off a lower time frame.

Ghous.
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I believe . . .
  • #38,833
  • Jul 24, 2009 10:30am Jul 24, 2009 10:30am
Quoting raczekfx
Congrats... luck also has to be earned ..
Just like mine..(attached below)
.


No, there are better champs..


This is my last post on this thread for some time, ...at least until things settle.

Be well. Trade well.

R
...at least untill things settle. ----> ???

Hope everything's fine Bro,

With a genius of a nucleus in your head I can't help wonder what could go wrong.

lol...just jk.

Won't poke into your personal matters.

Catch up with you later Mark.

Ghous.
I believe . . .
  • #38,834
  • Jul 24, 2009 10:32am Jul 24, 2009 10:32am
Quoting ghous
A 2 bar low probably yes, but as is often true in a consolidating market there are spatial concerns down south too...

Look at 1.06 for a ppz on the weekly, I would be very very cautious of going short until we can safely see through 1.06, even if that means skipping the TBL altogether...

I would then rather be happy with a pullback short trade to the 1.06 off a lower time frame.

Ghous.
Good analysis, but as I say there are always PPZ of some sort, what I do is if the nearest PPZ gives over RR 0.75 then I will consider trading it. If the setup isnt A then Ill take full profit.
I hear and I forget. I see and I remember. I do and I understand.
  • #38,835
  • Jul 24, 2009 10:34am Jul 24, 2009 10:34am
Quoting ghous
...at least untill things settle. ----> ???

Hope everything's fine Bro,

With a genius of a nucleus in your head I can't help wonder what could go wrong.

lol...just jk.

Won't poke into your personal matters.

Catch up with you later Mark.

Ghous.
Does he mean the drama with CW and Jim? Until that settles?
I hear and I forget. I see and I remember. I do and I understand.
  • #38,836
  • Jul 24, 2009 11:12am Jul 24, 2009 11:12am
Quoting tac
One of the amazing things about the material is you can profit in a consolidating market. For me this is a good setup, IF it breaks it will go to the top of the range. If not then it may be played as a 2 bar low.

Are you a PF member? There are some good videos by Jim showing exactly what you are referring to here. I learned to trade the reversals first on daily. Now I am looking at the daily ranging/consolidating stuff. Combine the daily TF material that Jim teaches with the retrace stuff on lower TF's that you see Rac post about and watch your account grow.

Demo first of course.

K.I.S.S.
  • #38,837
  • Jul 24, 2009 11:57am Jul 24, 2009 11:57am
"The problem, especially in this day and age of shrinking time spans, is that most of us are not blessed with the patience and discipline that we so badly require for successful trading and investing." - Pring on Price Patterns, pgs224-225.

So so true. Happy weekend all. Let's come back refreshed and ready to put this week and it's emotions behind us (as best we can)...

Josh
  • #38,838
  • Jul 24, 2009 12:04pm Jul 24, 2009 12:04pm
Quoting Jduester
"The problem, especially in this day and age of shrinking time spans, is that most of us are not blessed with the patience and discipline that we so badly require for successful trading and investing." - Pring on Price Patterns, pgs224-225.

So so true. Happy weekend all. Let's come back refreshed and ready to put this week and it's emotions behind us (as best we can)...

Josh
nice one josh.

Will post my favorite one in case some of you dont know it:

"Although the cheetah is the fastest animal in the
world and can catch any animal on the plains, it will wait until it is
absolutely sure it can catch its prey. It may hide in the bush for a
week, waiting for just the right moment. It will wait for a baby
antelope, and not just any baby antelope, preferably one that is sick
or lame. Only then, when there is no chance it can lose its prey, does
it attack. That, to me, is the epitome of professional trading".
Mark Weinstein from Market Wizards, Jack D Schwager.

Patience pays off guys, thats the name of the game!

Happy weekend everyone, Hope next week its a more regular one.

Cheers

Matias
  • #38,839
  • Jul 24, 2009 12:07pm Jul 24, 2009 12:07pm
Quoting raczekfx
...
This is my last post on this thread for some time, ...at least until things here settle.
Be well. Trade well.
Gonna take a vacation break?
See u Sir. Be Safe.
  • #38,840
  • Jul 24, 2009 12:39pm Jul 24, 2009 12:39pm
Quoting KissFan
Are you a PF member? There are some good videos by Jim showing exactly what you are referring to here. I learned to trade the reversals first on daily. Now I am looking at the daily ranging/consolidating stuff. Combine the daily TF material that Jim teaches with the retrace stuff on lower TF's that you see Rac post about and watch your account grow.

Demo first of course.

K.I.S.S.
Hey kiss

I joined the pf a few times so I have all the videos I have jims on my iPhone. Great stuff kiss good way to trade.

Mark mm
I hear and I forget. I see and I remember. I do and I understand.
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