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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

  • #49,541
  • Dec 10, 2009 8:12am Dec 10, 2009 8:12am
Quoting Dan Gilbert
you rule!
Try this one. It send screen & email alerts on Horizontal Line, Trendline, Rectangle, Fib.
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The purpose of knowledge is action, not knowledge
  • #49,542
  • Dec 10, 2009 8:25am Dec 10, 2009 8:25am
Quoting Dan Gilbert
Lol I just placed the same order before I saw your post.....
Haha,

Btw where do you see Trouble areas.

760 , 780-790 , 800 , 810-820 , 903.
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  • #49,543
  • Dec 10, 2009 8:26am Dec 10, 2009 8:26am
Quoting nasir.khan
Haha,

Btw where do you see Trouble areas.

760 , 780-790 , 800 , 810-820 , 903.

I'm moving stop to B/E @ 813. Thats all I know so far
Many choose unhappiness over uncertainty.
  • #49,544
  • Dec 10, 2009 8:34am Dec 10, 2009 8:34am
Heads up............this pair is approching a pivot level that has been around since 2001. Keep an eye out for price action at this 1.60 level.

Don't have the safety off the rifle yet but it is loaded and within reach.....

Nathan
  • #49,545
  • Dec 10, 2009 8:36am Dec 10, 2009 8:36am
Quoting bluetrader
Currently long EUR/CHF pin here. Anyone in this trade? ...
Update to this trade. In on the yellow arrow (pin bar), out on the cyan arrow (below support). Closed for around 1R profit.
Attached Image
  • #49,546
  • Dec 10, 2009 8:45am Dec 10, 2009 8:45am
Quoting alifari
Try this one. It send screen & email alerts on Horizontal Line, Trendline, Rectangle, Fib.
how do u set the alert on the trendline.what to key inside the description
  • #49,547
  • Dec 10, 2009 8:57am Dec 10, 2009 8:57am
Quoting benji533
Hey pro...

yen higher?...I'm short a/j since 82.80 ..


What about long from 79.75 if jones hits 10260 ? - just a beginner..


ohh and... wish you the best!
ok closed that short yesterday for 8R and went long as planed in my above post.

wow...I LOVE dailies. Really. No stress, time for everything, and still good money.

Trade well everyone!...and congrats trigger
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  • #49,548
  • Dec 10, 2009 9:05am Dec 10, 2009 9:05am
Quoting Dan Gilbert
I'm moving stop to B/E @ 813. Thats all I know so far
I'm considering closing half the position at 813, then tag a trailing stop on the remainder of my position trailing at about 60-65 pips.....
Many choose unhappiness over uncertainty.
  • #49,549
  • Dec 10, 2009 9:32am Dec 10, 2009 9:32am
Quoting nasir.khan
Haha,

Btw where do you see Trouble areas.

760 , 780-790 , 800 , 810-820 , 903.
Careful bro,

You'ra trading within very tightly range bound price action. These so called range boxes are best played for a breakout or when wide enough they can be manipulated at extremes. The BUOB is kind of stuck in between this tight range, and price might merely continue to chop it's way around,

Difficult to manage these IMHO.

g.
Attached Image
I believe . . .
  • #49,550
  • Dec 10, 2009 9:40am Dec 10, 2009 9:40am
Quoting benji533
ok closed that short yesterday for 8R and went long as planed in my above post.

wow...I LOVE dailies. Really. No stress, time for everything, and still good money.

Trade well everyone!...and congrats trigger
Wow!

For a moment I thought Rac had played around with his chart colors a bit.

Keep up the good work bro.

g.
I believe . . .
  • #49,551
  • Dec 10, 2009 10:13am Dec 10, 2009 10:13am
Quoting benji533
ok closed that short yesterday for 8R and went long as planed in my above post.

wow...I LOVE dailies. Really. No stress, time for everything, and still good money.
...
On the AUDJPY long did you see any PA or did you just jump in at the PPZ?
  • #49,552
  • Dec 10, 2009 10:27am Dec 10, 2009 10:27am
Quoting ghous
Wow!

For a moment I thought Rac had played around with his chart colors a bit.

Keep up the good work bro.

g.
lol, thanks man. Yea, that's a result of the early stage in reading rac posts.

Quoting MattW
On the AUDJPY long did you see any PA or did you just jump in at the PPZ?

Pure touch.
  • #49,553
  • Dec 10, 2009 10:52am Dec 10, 2009 10:52am
Quoting nasir.khan
Yea you got it right.

So a steep Trend Line means a strong trend and you don't want to go against it??
yep you got it Plus it is just tough to find good PA off such a steep trendline that would warrant a trade. So it sort of does that for you.

Best
Mike
  • #49,554
  • Dec 10, 2009 11:36am Dec 10, 2009 11:36am
Quoting benji533
Pure touch.

this is a serious question benji: about how many failed touch trades do you execute, for each winner? I understand you could easily get 4 failed touch trades, and 1 winner, but with an 1:8 R/R, that is still a very profitable approach.... I'm just curious!
Many choose unhappiness over uncertainty.
  • #49,555
  • Dec 10, 2009 12:00pm Dec 10, 2009 12:00pm
Quoting heaveyrain
how do u set the alert on the trendline.what to key inside the description
You dont have to put anything in description. Draw a Trendline first then attach this indicator to the chart. Standard Alert Distance in Pips is set to 10, but you can change it accordingly. Anytime you put a new trendline / horizontal line etc. you either need to delete indicator and reattach it OR right click (mouse) on chart, click indicator list, double click Alert4U Indi and press ok. The indi will be enabled for all lines on chart.
The purpose of knowledge is action, not knowledge
  • #49,556
  • Dec 10, 2009 12:23pm Dec 10, 2009 12:23pm
Quoting benji533
ok closed that short yesterday for 8R and went long as planed in my above post.

wow...I LOVE dailies. Really. No stress, time for everything, and still good money.

Trade well everyone!...and congrats trigger
Nice one. I took the cad/jpy daily bar retrace. Still waiting for it to come up a bit higher so I can play the 3 day pinbar short. I think that play could possible have a bit more pop.
  • #49,557
  • Dec 10, 2009 12:33pm Dec 10, 2009 12:33pm
MAN----!

This thread RAWKS MY SAWKS!!!

Keep it up guys!

LONG LIVE J16!!
  • #49,558
  • Dec 10, 2009 12:39pm Dec 10, 2009 12:39pm
Quoting Dan Gilbert
this is a serious question benji: about how many failed touch trades do you execute, for each winner? I understand you could easily get 4 failed touch trades, and 1 winner, but with an 1:8 R/R, that is still a very profitable approach.... I'm just curious!
Hey Dan,

I am not such experienced with touch trades. Started focusing on it mainly very recently. So not much data, but in the mean time I get roughly 30% WR with very small stops.

The nature of touches is low WR, but a large RR.

I am happy with the results, but as time passes, I will get better and better....I am sure.
  • #49,559
  • Dec 10, 2009 12:45pm Dec 10, 2009 12:45pm
Quoting Jlr
Nice one. I took the cad/jpy daily bar retrace. Still waiting for it to come up a bit higher so I can play the 3 day pinbar short. I think that play could possible have a bit more pop.
NZDJPY made very nice and predictable moves this week as well...but I have decided to go with only one yen pair with a full position size.
  • #49,560
  • Dec 10, 2009 12:51pm Dec 10, 2009 12:51pm
Quoting benji533
NZDJPY made very nice and predictable moves this week as well...but I have decided to go with only one yen pair with a full position size.
Probably wise. I think the n/j, a/j, and c/j are all pretty similar pairs. One day though, hopefully I can be like rac, and have 50 profitable trades going at the same time I can't even imagine
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