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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

  • #49,221
  • Dec 4, 2009 6:30am Dec 4, 2009 6:30am
Quoting joelcf
Many reasons, but here are a few.

1) You assume that trading a 5m chart is the same as trading a 1hr chart. It isnt. The market dynamics are very different. What works in one market doesnt necessarily work in others. More on this later. Of course, some things still do - but why limit the tools available? Continuing this point, if we can see that the timeframes lead to different dynamics, that means you need to change the way you trade. Which means that 'focussing' on one pair and smaller timeframes doesnt really add as much benefit as you think....
Thank you Joel & Sc , it clear to me.
I will learn more from the thread.
Have a nice weekend
  • #49,222
  • Dec 4, 2009 6:51am Dec 4, 2009 6:51am
and here is the last one.
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  • #49,223
  • Dec 4, 2009 6:52am Dec 4, 2009 6:52am
some interesting action on the crosses atm....
  • #49,224
  • Dec 4, 2009 6:55am Dec 4, 2009 6:55am
Hey urchman....Where can i get that indicator you have there on your charts? Cheers

Quoting urchman
Im still holding this fellow....why? Because i'm his number 1 favorite fan
  • #49,225
  • Edited 7:44am Dec 4, 2009 6:58am | Edited 7:44am
Nice area to enter short for EURJPY, TrendLine Break to PPZ + retrace.
Edit: I'm out, lol who said NFP had no effect ?
  • #49,226
  • Dec 4, 2009 7:49am Dec 4, 2009 7:49am
Quoting KissFan
I am long at the break of this 1Hr pin. It is off the trendline printed as well as the 150ema. These usually make for pretty good set-ups. I would like to add that I have spotted interesting divergence off the weekly chart. I have no longer term long bias yet but could be persuaded if we get some solid PA here.

K.I.S.S.
Entry Price 87.25. Trade closed at 89.37. It would be nice to get back in long on a retrace. I'll post again if I do.

K.I.S.S.
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  • #49,227
  • Dec 4, 2009 8:13am Dec 4, 2009 8:13am
Quoting KissFan
Entry Price 87.25. Trade closed at 89.37. It would be nice to get back in long on a retrace. I'll post again if I do.

K.I.S.S.
very nice kissfan!


have a good weekend all

regards

ic
  • #49,228
  • Dec 4, 2009 8:22am Dec 4, 2009 8:22am
Quoting icarusfx
very nice kissfan!


have a good weekend all

regards

ic
Back at cha Icarusfx! It will be a good weekend for me bro! I get to see "the hottest band in the world" .

K.I.I.I.I.I.I.I.S.S.
  • #49,229
  • Dec 4, 2009 8:47am Dec 4, 2009 8:47am
Quoting KissFan
... It will be a good weekend for me bro! I get to see "the hottest band in the world" .

K.I.I.I.I.I.I.I.S.S.
"You're lookin' fancy and I like your style"
& Everyday...



Is that about a 1Hr drive for you?
  • #49,230
  • Dec 4, 2009 9:08am Dec 4, 2009 9:08am
Quoting KissFan
Entry Price 87.25. Trade closed at 89.37. It would be nice to get back in long on a retrace. I'll post again if I do.

K.I.S.S.
http://i380.photobucket.com/albums/o...h32/ballin.gif
Many choose unhappiness over uncertainty.
  • #49,231
  • Edited 11:04am Dec 4, 2009 9:37am | Edited 11:04am
Well my tight stop did not get taken out, still in the trade and up 53 pips now. Got stop to break even and I am going to let it ride. It is at a 2nd trouble zone now and hoping that it gets through that soon enough.

I consider myself lucky on this trade. I don't think I would take this trade again as I stated in my earlier post, just too much noise where I entered with no head room. Thankful that it worked out, but it was more luck than skill.

Edit: I locked in 50 pips of profit.
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  • #49,232
  • Dec 4, 2009 9:59am Dec 4, 2009 9:59am
Quoting Concept
Well my tight stop did not get taken out, still in the trade and up 53 pips now. Got stop to break even and I am going to let it ride.
Nice trade Concept. I passed on it but below is what I saw and why I think it worked. Great management as well.

Pros: Trendline break/Retrace, divergence, double top
Cons: Traffic, small pin, against trend

-- Danny
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  • #49,233
  • Dec 4, 2009 10:01am Dec 4, 2009 10:01am
Quoting raczekfx
BINGO..
.
It's been a while...
So many Good people are gone since this thread was caged in commercial FF.

you know... good things happen when you're absent from the forums for a few days......

... and all that talk about nfp... .
Who cares about one minute event..
Think about it good fellas before you plan your next trade.....
.
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  • #49,234
  • Dec 4, 2009 10:11am Dec 4, 2009 10:11am
Hello,

Doing my homework, October was my first profitable month, November ended in loss, so I am starting this whole DEMO thing over again. But in this first week of December I made 1600+ pips trading pure PA. Crazy !

Looking forward to next two profitable months. Thank you for helping, everybody!

Have a nice weekend
  • #49,235
  • Dec 4, 2009 10:20am Dec 4, 2009 10:20am
If I may ask, what is the lower TF you trade?

Nos

Quoting bee24
Hello,

Doing my homework, October was my first profitable month, November ended in loss, so I am starting this whole DEMO thing over again. But in this first week of December I made 1600+ pips trading pure PA. Crazy !

Looking forward to next two profitable months. Thank you for helping, everybody!

Have a nice weekend
  • #49,236
  • Dec 4, 2009 10:44am Dec 4, 2009 10:44am
Quoting raczekfx
It's been a while...
So many Good people are gone since this thread was caged in commercial FF.
Great trades rac. May I ask: What is your take on correlation risk when trading all those JPY pairs? The R:R on these makes this question seem irrelevant, but I'm sure at the time the trades were taken, one can assume the total risk was something to consider.

Thanks for posting as always.

-- Danny
  • #49,237
  • Dec 4, 2009 10:59am Dec 4, 2009 10:59am
Quoting bluetrader
... What is your take on correlation risk when trading all those JPY pairs...
3.5% risk on each trade posted.
  • #49,238
  • Dec 4, 2009 11:01am Dec 4, 2009 11:01am
Quoting raczekfx
It's been a while...
So many Good people are gone since this thread was caged in commercial FF.

you know... good things happen when you're absent from the forums for a few days......

... and all that talk about nfp... .
Who cares about one minute event..
Think about it good fellas before you plan your next trade.....
.
Good to see you popping around, Rac!
One Chart is Worth Ten Thousand Words.
  • #49,239
  • Dec 4, 2009 11:01am Dec 4, 2009 11:01am
Hi guys,

Even if this is my first post here, I already know most of you from the last 1.5k pages. It was a great help for me to understand from you how could, newbies like me, become consistent winners.

I would try and post some of tradings hopefully I will learn from the mistakes pointed by the people from this great community.

I waited the best moment to enter on GBP/CHF. After the triple bottom on daily, I waited for the next bullish bar to cross the maximum of the bar before the triple bottoms ( cause I know that in mant cases the bullish trend will stop there, pullback 50-61% Fibb and the restart bullish ). I had a pending, the scenario was exactly like I thought and now I guess it will walk until my TP at 1.6780. I waited for the price to step over the maximum of the bar before those 3 bottoms also because it was a round number: 1.6700 . The summarize, I entered on 1.6704 and my TP will be at 1.6780.

P.S. I missed a partial profit because I was not at PC, the price was almost at TP 1.6772. Does't matter since I am pretty sure it is a matter of time before it will cross the target I had in mind which is exactly before 50.0% Fibb.
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  • #49,240
  • Dec 4, 2009 11:22am Dec 4, 2009 11:22am
Quoting Forex007
Good to see you popping around, Rac!
...just checking if FF came to their senses or we're still commercial...
have you caught that 8 PB with divergence..

btw. how's your fund doing Ax, any progress?
.
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