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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

  • #45,821
  • Oct 12, 2009 9:03am Oct 12, 2009 9:03am
Quoting FinnTrader
EURCHF 4H dbhlc

-Swing high
-Big size
-From 1.5200

EURJPY 4H pin bar

-Swing high
-From 133.00
-Lots of space below

-Size could be bigger, though


I think I'm going to take the EJ.
Saw that too.

In this case, when should we enter the trade?

There was no retrace back to 50% of last bar.
Probably a no trade. For me it is for sure.

Just trying to learn how to trade DBHLC.
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  • #45,822
  • Oct 12, 2009 9:33am Oct 12, 2009 9:33am
Quoting NosferatuMan
Saw that too.
In this case, when should we enter the trade?.
There was no retrace back to 50% of last bar.
Probably a no trade. For me it is for sure....
Just trying to learn how to trade DBHLC.
To answer your Q,
DBHLC entry is +/-5-15pips below the low, depending on trader's risk profile. (usually 10pips)

retracement entries via the 50% (or 38.2, or 61.8) are 'discount' entries (gets u in at better price, with less risk) --- they are ideal but are not 'required' (as per the j16 method) &/or do not happen always (specially in high momentum setups). again, ret. entries are trader-discretionary.
  • #45,823
  • Oct 12, 2009 9:47am Oct 12, 2009 9:47am
Quoting supremeChaos
To answer your Q,
DBHLC entry is +/-5-15pips below the low, depending on trader's risk profile. (usually 10pips)

retracement entries via the 50% (or 38.2, or 61.8) are 'discount' entries (gets u in at better price, with less risk) --- they are ideal but are not 'required' (as per the j16 method) &/or do not happen always (specially in high momentum setups). again, ret. entries are trader-discretionary.
Once again, thanks
  • #45,824
  • Oct 12, 2009 10:06am Oct 12, 2009 10:06am
Quoting NosferatuMan
Once again, thanks
Sure.

a small search yielded these 2 posts by Sir jarroo
DBHLC
DBLHC
but be sure to familiarize yourself about PA setups (PB, BUOB, DBHLC, etc) we use here first, so u can appreciate the examples more.
  • #45,825
  • Oct 12, 2009 10:15am Oct 12, 2009 10:15am
Quoting supremeChaos
Sure.

a small search yielded these 2 posts by Sir jarroo
DBHLC
DBLHC
but be sure to familiarize yourself about PA setups (PB, BUOB, DBHLC, etc) we use here first, so u can appreciate the examples more.
I'm going through the thread and I would eventually (in 1 year or so ) find Jaroos posts. That was very kind of you.

Thanks for the pm.
  • #45,826
  • Oct 12, 2009 10:36am Oct 12, 2009 10:36am
NosferatuMan,
bro, check out Cyrus' post above. he has generously compiled posts of Sir james16 & all seasoned traders here. search thru his posts (his latest compilation was shared around the 3000th page of this thread/early October, i believe).
his compilations will help fast-track your learning.
  • #45,827
  • Oct 12, 2009 10:54am Oct 12, 2009 10:54am
Quoting supremeChaos
NosferatuMan,
bro, check out Cyrus' post above. he has generously compiled posts of Sir james16 & all seasoned traders here. search thru his posts (his latest compilation was shared around the 3000th page of this thread/early October, i believe).
his compilations will help fast-track your learning.
Found it

Thank you and thank Cyrus for his great work.
  • #45,828
  • Oct 12, 2009 11:08am Oct 12, 2009 11:08am
Jim might have got into this earlier

but we never been late for waiting a PA to get in, I suppose..

Triple top daily

Double top 4H with divergence

Having clear PPZ, make it easier to manage your stop

Let's see if we can ride this with him this time

tJ
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  • #45,829
  • Oct 12, 2009 11:59am Oct 12, 2009 11:59am
This is one of my plays this week on weekly time frame. BUOB at swing bottom wedged between 365 and 150 emas, little divergence
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"Whether you think you can or can't, you're right." Henry Ford
  • #45,830
  • Oct 12, 2009 12:43pm Oct 12, 2009 12:43pm
Quoting Scot Pippin'
This is one of my plays this week on weekly time frame. BUOB at swing bottom wedged between 365 and 150 emas, little divergence

If you can wait and not be tired by waiting...
  • #45,831
  • Oct 12, 2009 12:48pm Oct 12, 2009 12:48pm
Quoting rossbennett
They can be tough, but yet they are so rewarding when you get in early, PA develops, and then you can add to the trade and play it as you would any other PA trade.

Through backtesting and demo, I've found that touch entries work best with the trend and OBVIOUS confluence of fib, ppz, 2 bar highs/lows, and/or TLs. I'm not the best with TLs so I use them rarely to look for confluence.

Ross
Classic Rac way to play. Work on those trendlines, you'll be glad you did.
Indicators show the past. Price Action "Indicates" the future.
  • #45,832
  • Oct 12, 2009 12:50pm Oct 12, 2009 12:50pm
Quoting rossbennett
Jarroo,

Take a look at pulling a fib from the bigger swing, 138.715 to 129.034.

The 61.8 lines up with the big RN 135 and imo a more solid PPZ

Ross
Excellent. Very nice. This could be where we're heading.
Indicators show the past. Price Action "Indicates" the future.
  • #45,833
  • Oct 12, 2009 12:55pm Oct 12, 2009 12:55pm
Quoting ghous
Amen Bro!

I am into touch trades and what I know for a fact is that the single most important thing that will matter the most in your touch trading method is the time you've been doing it for. It takes IMMENSE experience, and that's practically all that it takes.

g.
Practice does make perfect. They are fun to demo.
Indicators show the past. Price Action "Indicates" the future.
  • #45,834
  • Oct 12, 2009 12:56pm Oct 12, 2009 12:56pm
Quoting bundyraider

I DO NOT LET YOUR WINNERS BECOME LOSERS.
.
This is tattooed on my forehead.
Indicators show the past. Price Action "Indicates" the future.
  • #45,835
  • Oct 12, 2009 1:01pm Oct 12, 2009 1:01pm
Quoting jarroo
This is tattooed on my forehead.
you must have a big forehead
  • #45,836
  • Oct 12, 2009 1:05pm Oct 12, 2009 1:05pm
Quoting TiaForex
The rewards of this business are huge. Huge. Be kind to yourself and give yourself the chance to achieve them.
Nice Aaron.

Great bars at great locations, is the best way to start and end in my book. The one thing that looking for touch (blind) entries force you to do is look for great, confluenced levels. This is what Rac teaches me when ever he post.
Indicators show the past. Price Action "Indicates" the future.
  • #45,837
  • Oct 12, 2009 1:08pm Oct 12, 2009 1:08pm
Quoting mbqb11
you must have a big forehead
Its getting bigger very year.
Very year I have more and more face to wash. lol
Indicators show the past. Price Action "Indicates" the future.
  • #45,838
  • Oct 12, 2009 1:13pm Oct 12, 2009 1:13pm
Quoting supremeChaos
Sure.

a small search yielded these 2 posts by Sir jarroo
DBHLC
DBLHC
but be sure to familiarize yourself about PA setups (PB, BUOB, DBHLC, etc) we use here first, so u can appreciate the examples more.
Boy I used to zoom in alot. Thank God I started listening to Mike and zoomed out to get the bigger picture. Probably when I realized what the true traffic of a setup presented.
Indicators show the past. Price Action "Indicates" the future.
  • #45,839
  • Oct 12, 2009 1:18pm Oct 12, 2009 1:18pm
These never get old, do they Rac?

http://www.forexfactory.com/showpost...ostcount=10273
Indicators show the past. Price Action "Indicates" the future.
  • #45,840
  • Oct 12, 2009 1:19pm Oct 12, 2009 1:19pm
Ahh, you win some you lose some. As long as the losses are 10 and the winners are 20 I will take a 50% all day long
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Keep taking CT trades, I need more money
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