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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

  • #45,901
  • Oct 13, 2009 4:56am Oct 13, 2009 4:56am
Quoting joelcf
People need to read this post again.

Aaron is like an eloquent, condensed version of everything you need to get from this thread, and most of the pf too.

In person form.

Presumably.
I'm real. Mike is the machine.

Thanks Joel and Cyrus.
  • #45,902
  • Oct 13, 2009 4:59am Oct 13, 2009 4:59am
Quoting Cyrus
I'm no experienced member, but here's something Tia wrote quite awhile back on trade management, psychology, comfort levels, etc.

I aint 1/2 as eloquent as Aaron so I shall not screw it up by trying to summarise.

http://www.forexfactory.com/showpost...ostcount=32505

PS: Thanks Aaron. Awesome posts =)

your right cyrus that is a good post!

like an old friend of mine used to say "it not jumping out the plane that'll kill you it's the landing"
  • #45,903
  • Oct 13, 2009 5:58am Oct 13, 2009 5:58am
I see a more conservative entry below 89.30 area would also take out a fair amount of old support around those daily lows, yet this signal was given with those double tops ....okay I see 4 pips of separation.....

Lets see how it works out....
Matt
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Without women, money would have no meaning - Aristotle Onassis
  • #45,904
  • Oct 13, 2009 7:02am Oct 13, 2009 7:02am
Quoting mattfx
I see a more conservative entry below 89.30 area would also take out a fair amount of old support around those daily lows, yet this signal was given with those double tops ....okay I see 4 pips of separation.....

Lets see how it works out....
Matt
Still my target!
http://www.forexfactory.com/showthre...46#post3124546
  • #45,905
  • Oct 13, 2009 8:20am Oct 13, 2009 8:20am
This was a very nice trade. Pinbar off a resistance line, divergence, 0.74 rnd number. Took profit at the next support line for around 1:1, target was reached with no drawdown within the first (and a bit) candle. I'm happy
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  • #45,906
  • Oct 13, 2009 8:25am Oct 13, 2009 8:25am
In my first month of live trading with 4hr setups, I'm finding myself overtrading and taking several so-so setups. My results reflect this. Therefore I'm buckling down and getting back to only taking the best of the best. I may not get back to b/e for the month, but I will know that I'm only taking high quality trades, which will help me in the long run.

Each of the charts below are FXPro feed, with the 4hr bars just closing 20 minutes ago (8:00am CST).

What do you think of these pinbars (some aren't quite true pbs)? I didn't take any of them.

- AUD/USD. Too much flat/traffic trading preceding the pinbar.
- NZD/USD. Same as above. Pin doesn't stick out far enough.
- USD/CAD. Close was too low. Too much sideways/traffic to left.

These are the types of setups that happen all the time on 4hr timeframes. It is up to us (me) to distinguish these so-so bars from the great setups that occur a few times a week.

Price Action trading with this James16 method will allow me to accomplish my dreams. I just need to learn how to keep the safety on my gun until I find a buck at point blank range. Happy Trading to you all.

Josh
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  • #45,907
  • Oct 13, 2009 8:33am Oct 13, 2009 8:33am
Both are due for a correction.
Lets see if we can get past 17.50 on silver and break that lower tl for gold ~1050.
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  • #45,908
  • Oct 13, 2009 8:40am Oct 13, 2009 8:40am
Looks good Sebra
"Whether you think you can or can't, you're right." Henry Ford
  • #45,909
  • Oct 13, 2009 9:09am Oct 13, 2009 9:09am
Quoting Jduester
- USD/CAD. Close was too low. Too much sideways/traffic to left.

These are the types of setups that happen all the time on 4hr timeframes. It is up to us (me) to distinguish these so-so bars from the great setups that occur a few times a week.

Price Action trading with this James16 method will allow me to accomplish my dreams. I just need to learn how to keep the safety on my gun until I find a buck at point blank range. Happy Trading to you all.

Josh
i'm looking at the daily USD/CAD as well. i think the location is pretty good (if you can find any flaws, please tell me!)

-MACD divergence
-stochastic is super low
-nice round number at 1.3
-good PPZ

PINBAR is also forming BUT it doesnt look nice and long

any comments? can this be considered an A+ trade? what else should i wait for before entering?
  • #45,910
  • Oct 13, 2009 9:09am Oct 13, 2009 9:09am
Quoting joelcf
Hope that gave you a headache... now do it again using bid/ask prices
Wow . . . Yes, my head actually hurts. lol

Glad your on our side.
Indicators show the past. Price Action "Indicates" the future.
  • #45,911
  • Oct 13, 2009 9:21am Oct 13, 2009 9:21am
Quoting ljr
Hi

This does happen a lot. One thing you can try is don't move to your actual BE point. The market doesn't know/care where you entered so BE isn't really a logical place to move a stop to (other than ensuring you have no loss). If you took 26 pips profit then you could place your stop 26 pips below your entry and if hit you would have no nett loss but would give back the profit you banked.

No easy answer so best to test this out to see what works better most of the time. I prefer to find an area of support/resistance to move the stop behind as...

I think this is the post you mean? http://www.forexfactory.com/showpost...ostcount=43495

I'll just have to test and see, as you say.


Is there any senior member of J16 that would mind checking out my journal and letting me know what they think of the setups I've taken? It would be very much appreciated
  • #45,912
  • Oct 13, 2009 9:27am Oct 13, 2009 9:27am
Quoting TiaForex
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.

I have five other brothers and most are balding. But the youngest brother has a full head of hair, yet he shaves it bald. He runs marathons.
Go figure.
Indicators show the past. Price Action "Indicates" the future.
  • #45,913
  • Oct 13, 2009 9:33am Oct 13, 2009 9:33am
Quoting bee
Does the prescription work if your over 70?
Sure, Sir. actually, the answer is , depends on what uare specifically asking for.

Quoting jarroo
I'm going to get you, sChaos, for this one.
lol. are u really in your late 40s? u dont type/post slow/infrequently here.
btw, which 'this one'. be more specific Sir.
anyway, i only have good intentions in that post (LASIK, antioxidants etc).

btw, are u infront of your charts, can u (or anybody) please tell me why gbpjpy reversed from 141.18-ish (aside from having a minor PPZ there)??! Thanks
  • #45,914
  • Oct 13, 2009 9:34am Oct 13, 2009 9:34am
Quoting atclarkson
I think this is the post you mean? http://www.forexfactory.com/showpost...ostcount=43495

I'll just have to test and see, as you say.


Is there any senior member of J16 that would mind checking out my journal and letting me know what they think of the setups I've taken? It would be very much appreciated
I'll check it out.
Indicators show the past. Price Action "Indicates" the future.
  • #45,915
  • Oct 13, 2009 9:35am Oct 13, 2009 9:35am
Depending on how we close I will be looking to position myself short later on today...

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  • #45,916
  • Oct 13, 2009 9:38am Oct 13, 2009 9:38am
Quoting supremeChaos
Sure, Sir. actually, the answer is , depends on what uare specifically asking for.


lol. are u really in your late 40s? u dont type/post slow/infrequently here.
btw, which 'this one'. be more specific Sir.
anyway, i only have good intentions in that post (LASIK, antioxidants etc).

btw, are u infront of your charts, can u (or anybody) please tell me why gbpjpy reversed from 141.18-ish (aside from having a minor PPZ there)??! Thanks
Just kidding with you sChaos. lol

Sorry not at my regular charts. Check your weekly PPZ level, 141/140 is a strong level.
Indicators show the past. Price Action "Indicates" the future.
  • #45,917
  • Oct 13, 2009 9:46am Oct 13, 2009 9:46am
Hey guys,

Does anyone here know about a pin bar alerter which makes a noise when a pin bar forms (or an outside bar)?

It will be much easier for me....don't have much time to check charts.

Thanks.

Ben
  • #45,918
  • Oct 13, 2009 9:47am Oct 13, 2009 9:47am
Quoting jarroo
.....
Sorry not at my regular charts. Check your weekly PPZ level, 141/140 is a strong level.
yes Sir, aware of that. i'm particularly interested of the 141.18ish area. price stopped there & reversed.. lol
Thanks!

Quote
Just kidding with you sChaos. lol....
i know, Sir.
  • #45,919
  • Oct 13, 2009 9:54am Oct 13, 2009 9:54am
Quoting supremeChaos
yes Sir, aware of that. i'm particularly interested of the 141.18ish area. price stopped there & reversed.. lol
Thanks!

i know, Sir.
Here's a crazy idea, sChaos. How about showing a chart(s) (Daily, 4 hour, Hourly) that shows that level and we'll go from there.
Indicators show the past. Price Action "Indicates" the future.
  • #45,920
  • Oct 13, 2009 10:16am Oct 13, 2009 10:16am
Quoting jarroo
Here's a crazy idea, sChaos. How about showing a chart(s) (Daily, 4 hour, Hourly) that shows that level and we'll go from there.
'crazy' idea? LOL
nyahahah... i knew it. i was trying to dodge this one. but, to no avail

here are the H1, H4 & daily (FXPro)
the white line is the 141.18ish.
the magenta lines are the Support/PPZs
again, i'm looking for reasons for price reversal other than the minor PPZ (white line)
was expecting price to stop, initially at 141 area (initial TP area from a short trade), but price reversed almost 20pips above that.
on the H4, that doji prior the last bar is actually an IB in another MT4 (XTB) so i'll probably wait what happens when the current H4 bar closes.
Thanks!
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