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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

  • #45,841
  • Oct 12, 2009 1:30pm Oct 12, 2009 1:30pm
Quoting rustyjeff
yep. spot on Aaron...
now your getting it.. you sound more relaxed lately too.
Thanks to a timely intervention from some friends...

Thanks Jeff. It's certainly paying off to take things easy.

Aaron
  • #45,842
  • Oct 12, 2009 1:33pm Oct 12, 2009 1:33pm
Quoting jarroo
This is tattooed on my forehead.
So it's done backwards right..
So you can read it ..
  • #45,843
  • Oct 12, 2009 1:36pm Oct 12, 2009 1:36pm
Quoting jarroo
Its getting bigger very year.
Very year I have more and more face to wash. lol


I'm on the downhill slope now too the past year or two. So I get that one now. lol (Always been baby faced. )
Bundy's status today: "Waiting..."
  • #45,844
  • Oct 12, 2009 2:02pm Oct 12, 2009 2:02pm
Yes, weekly is sideways at the moment so I am not worried about it. Daily has major resistance and will more than likely form a pin. H4 hs formed a 2 bar pin followed by a 1 bar pin. Daily and H4 Ossilator shows overbought.

Yes I got in earlier than I should have. H4 pinning of EMA 365, Daily Pinning off EMA 150 and EMA 62. Finally, 3 H4 bars have not been able to close above 132.00.

Que

Quoting Danku
Hi Que, was just wondering if you have looked at the WEEKLY time frame......on this pair..........
Que
  • #45,845
  • Oct 12, 2009 2:14pm Oct 12, 2009 2:14pm
James, another reminder to post a chart of one of your YM trades you took last week. thanks
  • #45,846
  • Oct 12, 2009 2:20pm Oct 12, 2009 2:20pm
Quoting jarroo
Its getting bigger very year.
Very year I have more and more face to wash. lol
Dude, I went bald at 23. Shaved my head ever since. recently had to grow it out for work for a while and that was a shock. Thankfully the job is now over and so it gets shaved again tonight. Then I can go back to pretending that it's a choice and that I could grow it all back if I needed too.
  • #45,847
  • Edited 4:26pm Oct 12, 2009 3:52pm | Edited 4:26pm
post is now on next page with the missing charts attached (sorry)
If you can wait and not be tired by waiting...
  • #45,848
  • Oct 12, 2009 4:09pm Oct 12, 2009 4:09pm
Quoting dart
James, another reminder to post a chart of one of your YM trades you took last week. thanks
plus 2!
  • #45,849
  • Oct 12, 2009 4:16pm Oct 12, 2009 4:16pm
Hello to everyone, this is the first time i post something here, but most important is that this is not the first time i come here to learn.This is the place where like many before me i came to see how the real things are done.Like all know there is nothing more important than knowing how to read PA and that`s why we all try to learn.I do not want to boared you to death i just want to share some thoughts whit all of you.

I`we looked at numerous charts and spot that.

1.We almost always have to respect bigger trend.

For example if the trend is really strong up we should not consider selling even if we have PIN unless we have really good PPZ back op.

2.We do need to have important PPZ and look for PINS there.
3.Not every pin WILL work!
4.Taking partitions of our profit just in case and defend the rest of the capital.
5.Defending your capital is your NUMBER 1 priority.Why?Simple the best way to make money is not loosing them

Now some thing i do spot not long time ago.I hope this will be helpful for everyone.
Knowing the direction of the trend whether long term or short term is very important and could serve us pretty good.

At the picture you can see clear up trend so this PIN most of the times is very save to get in to.Also the stronger trend better chance for your PIN to workout.In this kind of method is hard to be with the trend every time because sometimes in one trend we could have another one.Example in some big up trend we could have series of LL and LH so in the big trend we have small one which is down, it is hard to get the direction right every time.Just open your charts and look for this and if you have some comments please share.
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  • #45,850
  • Oct 12, 2009 4:22pm Oct 12, 2009 4:22pm
Another Example in up trend Defined by HH and LL we have another PIN and again it is going where it should be.Examples are from 1 Hr but this is true for 4 hr and for Daily as you can guess the higher the TF the better and safer the signal.
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  • #45,851
  • Oct 12, 2009 4:23pm Oct 12, 2009 4:23pm
Quoting teodosy87
Hello to everyone, this is the first time i post something here, but most important is that this is not the first time i come here to learn.This is the place where like many before me i came to see how the real things are done.Like all know there is nothing more important than knowing how to read PA and that`s why we all try to learn.I do not want to boared you to death i just want to share some thoughts whit all of you.

Welcome to the thread Teodosy
  • #45,852
  • Oct 12, 2009 4:26pm Oct 12, 2009 4:26pm
Is this a poss touch trade candidate? (for demo)
It has at least three touches on daily chart.
nearest ppz is way back on the monthly in 1990.
Looks a b
it risky to me on reflection, but....
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If you can wait and not be tired by waiting...
  • #45,853
  • Oct 12, 2009 4:28pm Oct 12, 2009 4:28pm
This is an example of what does every chart should look like.
1.Important PPZ
2.The PIN
3.The money

I post this chart and will continue posting because for me it is better to look at the picture instead of reading so much.Reading this thread all from the start was great experience because from page 100 i think where were so many examples that really showed me what to do and when to do it .So please guys if you have some thoughts please share it is great value for us newbies here.
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  • #45,854
  • Oct 12, 2009 4:29pm Oct 12, 2009 4:29pm
Quoting glyder
Is this a poss touch trade candidate? (for demo)
It has at least three touches on daily chart.
nearest ppz is way back on the monthly in 1990.
Looks a b
it risky to me on reflection, but....
I am no touch trade expert, so I will let someone else give you an answer, but I would like to see price move away from this area then a better touch trade next time it tests it say as a double bottom. To me it looks like price consolidating on top of the 11 mark, before a possible break down(I would rather see a false breakout lower ).

Hopefully one of the touch masters can come in here though

Mike
  • #45,855
  • Oct 12, 2009 4:41pm Oct 12, 2009 4:41pm
Quoting teodosy87
Hello to everyone, this is the first time i post something here, but most important is that this is not the first time i come here to learn.This is the place where like many before me i came to see how the real things are done.Like all know there is nothing more important than knowing how to read PA and that`s why we all try to learn.I do not want to boared you to death i just want to share some thoughts whit all of you.

I`we looked at numerous charts and spot that.

1.We almost always have to respect bigger trend.

For example if the trend is...
hi there, just some thoughts.

1. pinbar is not at swing high or low, but it's in a congestion --> not good.
2. i see a lot of h1 chart in ur picture...delete them and use only daily and weekly. otherwise u'll burn your ass.
3. clean up ur charts! use only 150 ema, 365 ema (as dynamic supp/res) and an oscillator to spot divergences. period.
4. read very carefully the first 50 pages of this thread, plus the videos in the guest section, spend an year (yep, an year) looking at charts and apply some simple money management rules.
5. remember that the n.1 aim of this thread is not helping people to identify price action patterns, but helping them to identify a good LOCATION.

just my 0.002c.
have a nice day
  • #45,856
  • Edited 5:10pm Oct 12, 2009 4:45pm | Edited 5:10pm
Quoting mbqb11
I am no touch trade expert, so I will let someone else give you an answer, but I would like to see price move away from this area then a better touch trade next time it tests it say as a double bottom. To me it looks like price consolidating on top of the 11 mark, before a possible break down(I would rather see a false breakout lower ).

Hopefully one of the touch masters can come in here though

Mike
I am no touch expert, but allow me to give my thoughts. Price is not at a significant area with the exception of the 11.00 round number. Touch trading is all about location and confluence. The more time and space there is between touches, the more significant it becomes because more traders will take note of it. Personally, I don't like trading touches on double tops or double bottoms unless it is in confluence with a fib or ppz. Especially if the trade is counter-trend, in which your case it is.

I prefer touch trades with the trend when resistance becomes support (or vice versa) and lines up with a fib & round number. look at the NZD/USD daily chart where today's PB formed.

Ross
  • #45,857
  • Oct 12, 2009 5:00pm Oct 12, 2009 5:00pm
Quoting glyder
Is this a poss touch trade candidate? (for demo)
It has at least three touches on daily chart.
nearest ppz is way back on the monthly in 1990.
Looks a b
it risky to me on reflection, but....
I see some of you mentioned recently touch trades.

Just a suggestion that works for me...try to find levels which are confluenced by round numbers, divergence, price pivots or double top|bottom, while market is ranging - some times I do touch trades when price is trending and it's even better. It's fun due to the small stops required.

By the way, I have no time like in the past months to look at charts. I now trade dailies and 4H by alerts of noise and emails. It's pretty useful by the way.

PS - I'll miss you StorgePro Be safe and take care brother. You are one of my most favorite posters here in FF.
I'm sure you will be just fine with your trading though

Ben

PSS - Pay attention to AUDJPY 80.00 level - great location!
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  • #45,858
  • Oct 12, 2009 5:04pm Oct 12, 2009 5:04pm
Quoting mbqb11
I am no touch trade expert, so I will let someone else give you an answer, but I would like to see price move away from this area then a better touch trade next time it tests it say as a double bottom. To me it looks like price consolidating on top of the 11 mark, before a possible break down(I would rather see a false breakout lower ).

Hopefully one of the touch masters can come in here though

Mike
Ou..I started my post before you. I'm not a touch master Wait for rac.
  • #45,859
  • Oct 12, 2009 5:16pm Oct 12, 2009 5:16pm
Mike, Rossbennett & benji,
thanks very much for your advice, in light of which
I don't think GBPSEK is a good touch trade for me to begin this style of trading.
More work to be done on these types of trades for me.
If you can wait and not be tired by waiting...
  • #45,860
  • Oct 12, 2009 5:16pm Oct 12, 2009 5:16pm
Quoting glyder
Is this a poss touch trade candidate? (for demo)
It has at least three touches on daily chart.
nearest ppz is way back on the monthly in 1990.
Looks a b
it risky to me on reflection, but....
Actually, I like it.

Sorry, just now opened that chart lol.

Only concern it's against the trend, but I am going to make an intraday trade of the daily chart with a tight stop...when it touches the round number again.

Ben
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