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Where can I learn more about Price Action like those in James16 charts? 9 replies

james16 Chart Thread

Quoting [email protected]
snap !!
just closed mine and am trying a small long from here??
jon
i dont advice that but if u know what u r doing , no problems
been a while Jon, how u doing
why dnt u have a look at the uj4hr pin...and if its not a pin on ur chart...u cld use the period converter to view it as a 12hr pin
Simplicity is the key to success
Quoting squeezy
i dont advice that but if u know what u r doing , no problems
been a while Jon, how u doing
why dnt u have a look at the uj4hr pin...and if its not a pin on ur chart...u cld use the period converter to view it as a 12hr pin
hi mate, doing good thanx.a bit buzy to concentrate on trading too much but i cant stay away for too long!
dont worry its a very small possition, 15 pip stop ( +spread), lets see what happens??
i also looked at the u/j pin and your right i dont get the pin on the feed im on right now but it does give me a decent looking 8h pin. i dont think ill be taking this one though, not at this time of day. i dont particularly like the location either?? good luck to anyone who takes it though.
happy hunting
jon
PATIENCE... DISCIPLINE
Quoting tradertt
Personally,
I think

1) There is not enough space

2) I cannot find any confluence or PPZ at that area

Has not reached the 50% Fib, nor the Whole number

If it is slightly higher, may have considered but personally I think no space

Not sure if I am right lolz
Watch this one from the sidelines Tradertt, that is the smart thing to do when you are not sure. You cannot lose on the sideline, and you will grow in your ability to evaluate trades with experience - if you stick to identification of the best trades.

PS - draw the top of the fib retrace from the swing high of 9/9 to the bottom. Notice where the 61.8 lines up.
I'm pretty much done with all this ...
Quoting [email protected]
hi mate, doing good thanx.a bit buzy to concentrate on trading too much but i cant stay away for too long!
dont worry its a very small possition, 15 pip stop ( +spread), lets see what happens??
i also looked at the u/j pin and your right i dont get the pin on the feed im on right now but it does give me a decent looking 8h pin. i dont think ill be taking this one though, not at this time of day. i dont particularly like the location either?? good luck to anyone who takes it though.
happy hunting
jon
just got stopped out for +18. price missed my target of 149.95 by a few pips before retracing the 15 pip trailing SL i had on it. Plan worked out though.
jon
Attached Image
PATIENCE... DISCIPLINE
Quoting StoragePro
Dude - you know when you've arrived when you have become a verb
got stopped out by a pip
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Hi all,

Some interesting moves on Eur crosses, got stopped out on my Eur/Cad (Doh!). have i missed some important news .... ?!?!?!?

take it easy....
Quoting StoragePro
Watch this one from the sidelines Tradertt, that is the smart thing to do when you are not sure. You cannot lose on the sideline, and you will grow in your ability to evaluate trades with experience - if you stick to identification of the best trades.

PS - draw the top of the fib retrace from the swing high of 9/9 to the bottom. Notice where the 61.8 lines up.
I think this is a really important point. The usd/jpy will probably get to that first trouble area at 90.75 ish. Is it worth it to trade? Maybe depends on your style. Are there definitely better trade? YES. That is running theme I see. Everyone is afraid to analyze a chart and just watch. Because if they analyze it right and stand aside, it eats them up. When instead they should be proud they understood the charts, and understood they can still get their money in better.

It is always OK to pass guys. There is always and will always be another trade. By getting good at the not so good bars, it just makes trading the A bars that much easier and less stressful.

Be patient like SP said. Best trait you can have

Mike
Quoting Revstar
Hi all,

Some interesting moves on Eur crosses, got stopped out on my Eur/Cad (Doh!). have i missed some important news .... ?!?!?!?

take it easy....
Hey Revstar

You will find most of us don't pay attention to the news. James16 "avoids it like the plague". Meaning he doesn't care what news is going on, I agree. It can all be seen on the charts. Were you speaking about the eur/cad daily pin?

Check this post if so.
http://www.forexfactory.com/showthre...91#post3057491

Take care
Mike
4 hour g/u chart looks solid IMO. On the 50% from the last move up as well. Looks good for you basers out there too.
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I dream, therefore I become.
That was the pb i was referring to, thanks for the link to the post and the info. I entered near the top of the bar as i had a price pivot zone at the top of the pb... but did not take the traffic thing into consideration. I try to avoid the news, but being only able to trade during uk time 5pm onwards, i cannot monitor trade through the day...and assume big moves are due to news that i missed...

thanks again for the input, really appreciate the reply.



Quoting mbqb11
Hey Revstar

You will find most of us don't pay attention to the news. James16 "avoids it like the plague". Meaning he doesn't care what news is going on, I agree. It can all be seen on the charts. Were you speaking about the eur/cad daily pin?

Check this post if so.
http://www.forexfactory.com/showthre...91#post3057491

Take care
Mike
Quoting mike w
4 hour g/u chart looks solid IMO. On the 50% from the last move up as well.
I was sorely tempted by that one but I see 1.65 as a key battlearea and this pin doesn't give me enough room to get my stop to BE before 1.65.

If it was anywhere else, I'd see a big PPZ, hanging cherry pin bar, fib retrace....I'd be all over it.

I think it'll probably work out nicely for those that do take it as well. It never hurts to have mike_w onside as well...
Quoting TiaForex
I was sorely tempted by that one but I see 1.65 as a key battlearea and this pin doesn't give me enough room to get my stop to BE before 1.65.

If it was anywhere else, I'd see a big PPZ, hanging cherry pin bar, fib retrace....I'd be all over it.

I think it'll probably work out nicely for those that do take it as well. It never hurts to have mike_w onside as well...

quick question if u dnt mind, i see the pin off 50 fib + ppz on my charts ....
are you not concerned about the big bearish bar immediately to the left, if it does work out 1.6580 shld be my 1st trouble area
im on the sidelines watching
Simplicity is the key to success
Quoting squeezy
quick question if u dnt mind, i see the pin off 50 fib + ppz on my charts ....
are you not concerned about the big bearish bar immediately to the left, if it does work out 1.6580 shld be my 1st trouble area
im on the sidelines watching
Always great to be on the sidelines squeezy. Me too on this one.

And yes, you're right, the bar also isn't quite big enough to warrant a reversal especially trading into the round number. There's also a ton of bar lows at 1.65 on the chart so that's where I'd be watching carefully if I was in it.

As I said this is only my point of view. It's going to give me sleepless nights if anyone starts thinking of me as a senior here. I'm in the same boat as most of you guys, learning learning learning.

Looks like GU has made it to 1.65. Let's see where it goes from here. I enjoy watching trades I've passed on. I can see whether my analysis was correct without getting too emotionally wound up.
Quoting TiaForex
Always great to be on the sidelines squeezy. Me too on this one.

And yes, you're right, the bar also isn't quite big enough to warrant a reversal especially trading into the round number. There's also a ton of bar lows at 1.65 on the chart so that's where I'd be watching carefully if I was in it.

As I said this is only my point of view. It's going to give me sleepless nights if anyone starts thinking of me as a senior here. I'm in the same boat as most of you guys, learning learning learning.

Looks like GU has made it to 1.65. Let's see where...
1.6525-30 is an area to look out for IMO. What do you think Aaron? I'm out once we reach those bar lows for 50 points. I also agree with you that this isn't enough to warrant a reversal. I only look to the daily for those on a break. I can't wait for these dailies after yesterday's gbp/cad and cad/jpy working it.
I dream, therefore I become.
Quoting TiaForex
Always great to be on the sidelines squeezy. Me too on this one.

And yes, you're right, the bar also isn't quite big enough to warrant a reversal especially trading into the round number. There's also a ton of bar lows at 1.65 on the chart so that's where I'd be watching carefully if I was in it.

As I said this is only my point of view. It's going to give me sleepless nights if anyone starts thinking of me as a senior here. I'm in the same boat as most of you guys, learning learning learning.

Looks like GU has made it to 1.65. Let's see...
sleepless nights...lol
also learning learning learning here, still making silly mistakes
but with due time , itll all fall into place
cheers Aaron

edit:seems to be struggling with 1.65round no....another thing could be the time of day (i think)
Simplicity is the key to success
Quoting StoragePro
Watch this one from the sidelines Tradertt, that is the smart thing to do when you are not sure. You cannot lose on the sideline, and you will grow in your ability to evaluate trades with experience - if you stick to identification of the best trades.

PS - draw the top of the fib retrace from the swing high of 9/9 to the bottom. Notice where the 61.8 lines up.
Thanks Have to learn slowly. Have been taking some stupid trades recently lolz
Quoting mbqb11
I think this is a really important point....

Agreed and patience is one of the hardest things to learn

But I find that by answering other people charts questions, I tend to learn even when I am not risking my money and I can always count on the seniors to guide me if I went wrong with my answer lolz

Like they say, a Teacher always Learns the most (Did they have that saying? ;p)
Quoting mike w
1.6525-30 is an area to look out for IMO. What do you think Aaron? I'm out once we reach those bar lows for 50 points. I also agree with you that this isn't enough to warrant a reversal. I only look to the daily for those on a break. I can't wait for these dailies after yesterday's gbp/cad and cad/jpy working it.
Those bar lows at 1.6520 stick out like a sore thumb, you're right. If I was in this at the very least I'd probably be break even by the time we hit 1.65 I've been so influenced by mbqb11's emphasis on the big rounds so I try not to trade into them if at all possible.

I took the big BEOB and got out at break even on that one.

I passed on the CADJPY and am a little annoyed that out of the two gbp BEOBs that I chewed over, I took the GU and passed the GCAD. Still, tomorrow's another day.

Dailies have not really excited me for a while because of all this consolidation. When the markets loosen up a bit and create some space I'll be more excited about the PA.

But what do I know? I was expecting big UCAD bullish and EU bearish moves today. And look how that panned out....
Guys I do have 1 question for you all today though that came into my mind

I know James, Mike, Jarroo etc do not talk about risk reward in a trade and often don't take a full bar loss but I was thinking

I often see people taking profits very early 0.3R, 0.5R, 0.2R

and sometimes, not often (of course the more experience you are the lesser you get hit by a full bar loss) you take a BIG full bar loss (1R) which totally eats up all your previous profits and even bring you into the losing zone.

What are your takes on this? Hope you guys understand what I am getting at.
Quoting tradertt
Guys I do have 1 question for you all today though that came into my mind

I know James, Mike, Jarroo etc do not talk about risk reward in a trade and often don't take a full bar loss but I was thinking

I often see people taking profits very early 0.3R, 0.5R, 0.2R

and sometimes, not often (of course the more experience you are the lesser you get hit by a full bar loss) you take a BIG full bar loss (1R) which totally eats up all your previous profits and even bring you into the losing zone.

What are your takes on this?...

let me try & answer to the best of my knowledge on this & maybe
the seniors can expansiate better.
if u keep every trade u enter at 1% of ur acc balance and take a full bar loss that shldnt
wipe out ur profits.
before entering a trade , u hav to look for the 1st trouble area and do a quick calc
to see if its worth the risk.
if u risk 50 pips or 500pips, that shld still be 1% of ur account.
now if u risk 100 pips @ 1% of ur acc and the 1st trouble area is jut 50pips
away, that means u r risking 1% for a possible 0.5% which some traders might
therefore skip.
u also hav to know wat to do when it reaches ur 1st trouble area
i have a couple of options on my trading rules as follows
1. move to BE at 1st trouble area
2.take full profit
3.hide at the barbreak or at a confluenced area
4. some also take partial profit @ 1st trouble area ,then move to BE
Simplicity is the key to success
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