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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

  • #45,341
  • Oct 6, 2009 2:51pm Oct 6, 2009 2:51pm
Quoting bundyraider
Wow, that far away? Ok thanks. Usually catches me out.
Me too bundy. There's usually a couple of weeks where the UK and the US get out of sync by an hour and it catches me by surprise. I like to know when my NY close is.

Slow in general on this thread. I've written to Twee. I think this thread needs to be pulled out of the commercial forum and back to the main FF section where it belongs.
  • #45,342
  • Oct 6, 2009 3:10pm Oct 6, 2009 3:10pm
I'm watching to see if this ends in a 2 pin. The level seems like a significant price flip.
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"Whether you think you can or can't, you're right." Henry Ford
  • #45,343
  • Oct 6, 2009 3:38pm Oct 6, 2009 3:38pm
Hi guys .

Here is a killer trade that I ve made today

Get stopped out where the green box is. Bad luck

In moments like this I always yell : thanks James, Mike and all of you who show me that method.
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  • #45,344
  • Oct 6, 2009 3:49pm Oct 6, 2009 3:49pm
Quoting esbatu
Hi Mike, I know there are two ways we can set the bounds for our trade. One is the way you describe and the other way is to manually set the bounds in the ticket order. But I didn't fill anything in the bounds column on the ticket order and I also never enable bounds in the User Preferences. So I assume that the bounds were never activated and my trade should be executed.

Anyway, this is how Oanda describe the BV:SL
"BV:SL stands for Bounds Violation on a stop loss order. An order is cancelled with the message "Order Canceled (BV:SL)" if at...
this has happened to me once before, as i remember it wasn't even NFP. didn't really understand their explanation, but so far oanda's advanatages still out weights disadvantage to me. i guess no perfect broker.
  • #45,345
  • Oct 6, 2009 3:50pm Oct 6, 2009 3:50pm
hi guys, heres one im looking at. the bar closes on the hour. i would have liked to have seen a deeper retrace and that fact is bugging me.
any thoughts on this possible setup most welcome!
cheers
jon
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PATIENCE... DISCIPLINE
  • #45,346
  • Oct 6, 2009 3:56pm Oct 6, 2009 3:56pm
Quoting g_j_hook@yah
hi pipmyride, i have a pin bar also and i liked the trade.i think there is often some follow through to moves like this after news.
i got in on the 1h TF which gave a BEOB. i entered on the retrace. i have just moved my stop to be in case that round number holds out.the position is too small to take partial profit.
just to update on this i closed the full position at 1.5890 for a return of around 1:3
Quote
In moments like this I always yell : thanks James, Mike and all of you who show me that method.
i know the feeling!
nice one by the way. too scary those 5min charts for me lol
jon
PATIENCE... DISCIPLINE
  • #45,347
  • Oct 6, 2009 3:59pm Oct 6, 2009 3:59pm
Quoting atton
Hi guys .

Here is a killer trade that I ve made today

Get stopped out where the green box is. Bad luck

In moments like this I always yell : thanks James, Mike and all of you who show me that method.
Fairly sure James and Mike would warn you about the perils of trading tiny 5m poodle pinbars following multiple huge consecutive bearish bars without divergence or a ppz bounce.

Glad you banked some pips, buddy
When you have to shoot, shoot. Dont talk.
  • #45,348
  • Oct 6, 2009 4:00pm Oct 6, 2009 4:00pm
Hi g_j_hook@yah,

You asked for thoughts so I will give mine.

I prefer to trade when big money is in the market and price tends to range at this time of day.

I would also be looking for a bigger retrace as you already said.


cheers

fxp.

Quoting g_j_hook@yah
hi guys, heres one im looking at. the bar closes on the hour. i would have liked to have seen a deeper retrace and that fact is bugging me.
any thoughts on this possible setup most welcome!
cheers
jon
  • #45,349
  • Oct 6, 2009 4:03pm Oct 6, 2009 4:03pm
Quoting esbatu
So from the definition above, I supposed my trade was canceled because at the time the price reach my sell target, the spread was more than 35pips which is more than my stoploss range. Can we check back the spread during that particular time? Or anyone can confirm that?
They are saying that when your order went to execute, the market+spread had already moved to your SL before they could fill it.

Happens in fast markets with tight stops.

Not sure about Oanda, but most charting packages let you plot the bid/ask rather than just the bid... maybe give that a shot and see if they were especially wide?
When you have to shoot, shoot. Dont talk.
  • #45,350
  • Oct 6, 2009 4:04pm Oct 6, 2009 4:04pm
Quoting atton
Hi guys .

Here is a killer trade that I ve made today
Dude that is Awesome!!!! I should start watching lower frames for demo man, or will I just get myself in trouble lol?
"Whether you think you can or can't, you're right." Henry Ford
  • #45,351
  • Oct 6, 2009 4:07pm Oct 6, 2009 4:07pm
For those of you new here (As am I)... please listen to the seniors here when they tell us to only trade high time frames. I have kept an excel sheet of all my trades for the past several months.... am near 100% positive on dailies and 4hrs.... and about 25% positive, 25% BE, and 50% negative on anything under 1 hrs...

I understand how you feel, because I am there with you. You make a small error, and think, oh I will just drop down to a 5 min chart where there are alot more "setups" and "find" a good trade. Seeing as how the scale is smaller, I will need to bump up my leverage to get the same dollar amount out of a smaller target. SEVERAL things wrong with that, 1) Do not drop down to 5 min, EVER (That is for me at least) 2) Do not up leverage, but most important, do not LOOK for trades. if they are there they will stare you in the face.

I am off for a trip to Europe with my wife for 2 weeks. I will be back when I return However, of note. I am up 20% since I started with this forum! I will still need to get to lets say 5000% to Break even on all my "trading" endeavors... however this group here is helping me one step at a time.

Thank you!
Dr. C
  • #45,352
  • Oct 6, 2009 4:12pm Oct 6, 2009 4:12pm
Thanks for the positive comments. I usually do not trade a time frame lower than daily. And I ve never traded 5 min chart. I did it just because I ve never done it before and it was interesting for me. Will never do it on life acc soon I suppose. Joel that was one of the things that scared me most-the big bearish bars and the small pin but I had my round number and most importantly my demo account lol. Wish you all best !
  • #45,353
  • Oct 6, 2009 4:14pm Oct 6, 2009 4:14pm
Quoting atton
most importantly my demo account lol.
lol, in that case - nice trade
When you have to shoot, shoot. Dont talk.
  • #45,354
  • Oct 6, 2009 4:30pm Oct 6, 2009 4:30pm
Quoting joelcf
lol, in that case - nice trade
DemoTrade = Willing to Fail Trade. What kind of Training is that?.Get Real or Get Out. Now. Before you lose your Real Money.

Then again...& Study & pay attention & it could be yours.

A field full of Bulls & Bears & you think you can make it accross.
Less than 5% do but no-one will stop you from participating.

Study, Study, Study. It's youre only chance of Survival.
  • #45,355
  • Oct 6, 2009 4:41pm Oct 6, 2009 4:41pm
Quoting Bemac
DemoTrade = Willing to Fail Trade. What kind of Training is that?.Get Real or Get Out. Now. Before you lose your Real Money.
.
In all fairness, he did say that he had never traded the 5m and just wanted to see what it was like.
When you have to shoot, shoot. Dont talk.
  • #45,356
  • Oct 6, 2009 4:42pm Oct 6, 2009 4:42pm
Quoting g_j_hook@yah
hi guys, heres one im looking at. the bar closes on the hour. i would have liked to have seen a deeper retrace and that fact is bugging me.
any thoughts on this possible setup most welcome!
cheers
jon

I personally like this setup based on the price flip above 65.00. I've got an order entered on this one.

Fish
  • #45,357
  • Oct 6, 2009 4:54pm Oct 6, 2009 4:54pm
swiss yen? anyone interested in this? broke 87 then came back to retest forming 2 pins?
probably not worth the risk once you enter 10 pips below break of pins and with 86 looming 10 or so pips away
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  • #45,358
  • Oct 6, 2009 4:55pm Oct 6, 2009 4:55pm
Quoting joelcf
In all fairness, he did say that he had never traded the 5m and just wanted to see what it was like.
Called Out Called Up & Called to Question.
Good job.

My immediate answer is...
You Win.

Please stay in the Game.


Geez folks;
I just proofed it before posting & it reads like it was posted like it came from one of the parasites I abhor.
Y'know, those guys that don't care where you end up as long as they have your money before you leave.

Think:
It's YOUR Life.
  • #45,359
  • Oct 6, 2009 4:55pm Oct 6, 2009 4:55pm
Quoting supermatt
swiss yen? anyone interested in this? broke 87 then came back to retest forming 2 pins?
probably not worth the risk once you enter 10 pips below break of pins and with 86 looming 10 or so pips away
also be careful here Matt. Remember the location we want to see these pins at are swing high points. These are at swing low points. Granted some of these xxx/jpy pairs look like they want to retest the lows, but I still wouldn't trade based of those

Best
Mike
  • #45,360
  • Oct 6, 2009 8:13pm Oct 6, 2009 8:13pm
Quoting TiaForex
Me too bundy. There's usually a couple of weeks where the UK and the US get out of sync by an hour and it catches me by surprise. I like to know when my NY close is.

Slow in general on this thread. I've written to Twee. I think this thread needs to be pulled out of the commercial forum and back to the main FF section where it belongs.
For sure.

And I suppose I should ask when UK DST ends too. Just assumed they'd be close. lol
Bundy's status today: "Waiting..."
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