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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

  • #47,581
  • Nov 4, 2009 11:14pm Nov 4, 2009 11:14pm
Quoting mbqb11
eur/jpy
worked out nicely stalled right where expected. Simple what James teaches
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  • #47,582
  • Nov 4, 2009 11:33pm Nov 4, 2009 11:33pm
Quoting dmc
that upper decki from Hidecki is givvign that yen a push. Yankees ...27

  • #47,583
  • Nov 4, 2009 11:42pm Nov 4, 2009 11:42pm
Quoting mbqb11
worked out nicely stalled right where expected. Simple what James teaches
Mike,
you adjust your position size according to your level of confidence in the trade right?
on that one did you do a full percent or half percent or what?

and on that particular trade were u around 1:1RR? about 50 pips SL, 50 pips TP? assuming u entered on break of the pin

thanks,
DZ
  • #47,584
  • Nov 4, 2009 11:53pm Nov 4, 2009 11:53pm
Quoting dengzhi
Mike,
you adjust your position size according to your level of confidence in the trade right?
on that one did you do a full percent or half percent or what?

and on that particular trade were u around 1:1RR? about 50 pips SL, 50 pips TP? assuming u entered on break of the pin

thanks,
DZ
I risk 1% on this trade based on a 90 pip stop and took 45 pips on this giving me nearly .5% return. My stops are normally above the bars, but depending on the situation my stop might be a bit lower giving me a higher position size.

R:R changes trade to trade , doesn't really matter to me, each is situational


Hope that helps

Mike
  • #47,585
  • Nov 5, 2009 12:18am Nov 5, 2009 12:18am
Quoting Dan Gilbert
My short has been activated on this pair....

Also +50pip on CADJPY sell so far.... looking @ 84.50 as first T/P, and spot for moving stop to B/E...




I just need to note that this thread is the first thing I have ever seen as far trading is concerned that has worked. It always seemed like everything else I used was completely WRONG and never worked properly... Now it seems like everytime I place a trade, it always goes the direction I traded in... Although sometimes it does turn back, my skills are still being perfected as far moving...
If you can wait and not be tired by waiting...
  • #47,586
  • Nov 5, 2009 12:56am Nov 5, 2009 12:56am
Stops moved to BE as first target areas hit...
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  • #47,587
  • Nov 5, 2009 12:58am Nov 5, 2009 12:58am
Quoting lovejoy80
Stops moved to BE as first target areas hit...
nicely done LJ
  • #47,588
  • Nov 5, 2009 1:11am Nov 5, 2009 1:11am
I wonder sometimes how many of these i have missed over the years? i just didnt spot them as they quickly got buried.

I love it when i dont miss them, i can tell you that.

im thrilled things are going a bit easier for you dan.

now all you have to do is play the same game for a year or two (learn the game by playing the game) and you will have a real chance of making it.





Quoting Dan Gilbert
My short has been activated on this pair....

Also +50pip on CADJPY sell so far.... looking @ 84.50 as first T/P, and spot for moving stop to B/E...




I just need to note that this thread is the first thing I have ever seen as far trading is concerned that has worked. It always seemed like everything else I used was completely WRONG and never worked properly... Now it seems like everytime I place a trade, it always goes the direction I traded in... Although sometimes it does turn back, my skills are still being perfected as far moving...
  • #47,589
  • Nov 5, 2009 3:40am Nov 5, 2009 3:40am
Quoting mbqb11
OK, you just use the close. But Artov still has divergence on his chart. As long as your oscillator is doing opposite of price no matter what oscillator you use it is technically diverging

Mike
Sorry, to interupt here, (looks I have too much time lately), but what advantage do You get from a div comparing bar low points and RSi on closing points?
If you use low-low, or close- close, than there is a possible info with value.
(But I think to understd what happens more important than this.)
NL
  • #47,590
  • Nov 5, 2009 3:48am Nov 5, 2009 3:48am
Quoting benji533
That is the way I look for div anyway.
So You use Your brain. Not accept anything for granted. Work out the MM, and Psych areas, and soon You will get there at Your AIM. Just think and try.


NL
  • #47,591
  • Nov 5, 2009 4:22am Nov 5, 2009 4:22am
Congrats to mike and his yankees.
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  • #47,592
  • Nov 5, 2009 5:11am Nov 5, 2009 5:11am
Quote
just wondering/hoping some of youdale caught these?? maybe??

Still have a part of my GBP/USD you might be able to get a mobile mt4 and place the trades during your break.

Best regards

Dale
  • #47,593
  • Nov 5, 2009 5:44am Nov 5, 2009 5:44am
Quoting lacika
Sorry, to interupt here, (looks I have too much time lately), but what advantage do You get from a div comparing bar low points and RSi on closing points?
If you use low-low, or close- close, than there is a possible info with value.
(But I think to understd what happens more important than this.)
NL
In my humble opinion, the ultimate goal is to use what most traders use... most traders I know use low/high on price to determine divergence. Does it make sense? Maybe the better question is "Does it matter if it makes sense?"

If close - low works for some, then they should stick with it. If close - close works for some, then they should stick with it.

No one should be taking trades strictly off DIV anyway, which I think we all agree on... in which case, DIV is nothing more than a form of confluence.

K.I.S.S.
From Babypips.com:
"Just think “higher highs” and “lower lows”. If price is making highs, the oscillator should also be making higher highs. If price is making lower lows, the oscillator should also be making lower lows. If they are NOT, that means price and the oscillator are diverging from each other. Hence the term, divergence."


Happy trading,

Josh
  • #47,594
  • Nov 5, 2009 6:19am Nov 5, 2009 6:19am
I missed this yesterday because of some prior commitments. I also try to wind up my trading by 1PM central time daily. I hope to post more of these to help newer traders along. Many times it has been said that a good PA set up as taught here will scream out at you. I think that this one fits that description.

K.I.S.S.
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  • #47,595
  • Nov 5, 2009 7:01am Nov 5, 2009 7:01am
Quoting lovejoy80
Stops moved to BE as first target areas hit...
1/2 position closed on CADJPY, stop moved to even. Winning trade no matter what now.

no changes on CHFJPY, I maybe got into this one a little bit too late.
Many choose unhappiness over uncertainty.
  • #47,596
  • Edited 7:31am Nov 5, 2009 7:21am | Edited 7:31am
hi,I took the weekly EURUSD berish Engulfing bar on the 1.5 level with 1.4870 SL.

http://img269.imageshack.us/img269/2820/euuuug.jpg

the reson i took the trade is:
1.berish Engulfin on the weekly
2.on the 1.5 level
3.breakout of the tradeline
4.breakout of the ABC Fib pattren.

I lost the trade,but was it a good call to trade this bar? could I trade it better?
tnx.
Wellcome to the good life!
  • #47,597
  • Nov 5, 2009 7:35am Nov 5, 2009 7:35am
Touch trade of a 50% fib and 150ema. Green line is the Trader Pivot hoping it turns to support.
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"Whether you think you can or can't, you're right." Henry Ford
  • #47,598
  • Nov 5, 2009 7:40am Nov 5, 2009 7:40am
Quoting PippingMama
This is my plan to do a blind short the EURGBP at 0.9000 level. I will use 25pip stop.

Reason to short:

1. Trendline
2. 61.8% retracement level.
3. Weekly chart still bearish

Final target could be 0.8820 level.

I miss the chance to short it at 0.9070 area, (price only reach 0.9061), hope I can catch the fall again.


All comments are welcome.

Thanks!

PippingM

so far this has been a success... nice one...
Many choose unhappiness over uncertainty.
  • #47,599
  • Nov 5, 2009 7:41am Nov 5, 2009 7:41am
Quoting Greenhaze
This is exactly how i see it ;] Thank you.

Greenhaze:

Did you get filled? I am short from my limit order at .8990 and now at break-even, with another order just below .8900 to pyramid if it falls below.

I am bit annoyed that .8950 continues to provide support; however, the worst that can happen now is a break-even trade.


Nathan
  • #47,600
  • Nov 5, 2009 7:54am Nov 5, 2009 7:54am
Show me some PA here please. Good divergence is a terrible thing to waste.

K.I.S.S.
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