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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

  • #49,561
  • Dec 10, 2009 2:54pm Dec 10, 2009 2:54pm
Took the Nat Gas Outside bar last night.

Outside bar, swing high, Round number, PPZ, down trend, some space. It entered, went 20 pips (my EA was set for 30) and turned around and ran.
It did give me some chance to profit, no doubt, but certainly movd the other way quick. Something to think about next time.

Any thoughts on the bar? It followed my rules, only thing I see is it could have had more space. I do see the PPZ now (White line) that it hit, but I expected it to go a little bit lower before seeing trouble.
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  • #49,562
  • Dec 10, 2009 4:03pm Dec 10, 2009 4:03pm
Quoting atclarkson
Took the Nat Gas Outside bar last night.

Outside bar, swing high, Round number, PPZ, down trend, some space. It entered, went 20 pips (my EA was set for 30) and turned around and ran.
It did give me some chance to profit, no doubt, but certainly movd the other way quick. Something to think about next time.

Any thoughts on the bar? It followed my rules, only thing I see is it could have had more space. I do see the PPZ now (White line) that it hit, but I expected it to go a little bit lower before seeing trouble.
Hey At

I would say safely that your sell order should have gone under 4.8 to confirm break past that number. Again everyone uses different buffers but that would be my take from the look of it. Especially since it was in that sideways market. In fact I would be more likely to take the BUOB that has formed even though it is at a swing high b/c it is trading away from all that mess.

Mike
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  • #49,563
  • Dec 10, 2009 5:11pm Dec 10, 2009 5:11pm
Thanks Mike, spot on as always. I was trading after 16 hours or so of plowing and didn't look at the big picture.
  • #49,564
  • Dec 10, 2009 5:17pm Dec 10, 2009 5:17pm
Quoting triger88990
hey Kiss...
hi trigger, just my last word for wot its worth mate, try not to form a bias, thats the fastest way to get attatched to your trades. it took me a long time to learn but you really need to leave your brain with your coat when trading. you have (or are developing) your edge and so your emotions and opinions should'nt and need'nt play a part. hanging on to a trade long enough to let +100 turn to a loss or even BE is imo something that shouldnt happen often if ever,(except maybe on the longer term trades and even then only after you have taken some profits)and it probably happend because you were EXPECTING something different. trade the chart ONLY. when you know your edge will make you profits consistantly over the long run what other say or believe will have no effect on your trading as you know your loosers are a part of the game, and the emotions will play less and less of a role.
i am not getting at you my friend but i thought i would take this oppertunity to outline this for everyone who is just starting out on this.

cheers
jon
PATIENCE... DISCIPLINE
  • #49,565
  • Dec 10, 2009 5:22pm Dec 10, 2009 5:22pm
I'm going to post this one as a "live trade" so I can show if it is a failure, or if it wins. This is a demo trade, and I invite you to follow me on this one however you wish. I've highlighted the trouble areas with rectangles, and circled the zone where I see a lot of potential resistance to help shoot this breakout trade south. I also scribbled in a little line as a forecast of PA http://cdn.forexfactory.com/images/s.../yim/happy.gif . I know this is a long shot that I will be exactly right, and nobody can predict something this accurately, but It's a learning experience.


Happy trading.

EDIT: the 1.6330 is the S/L
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Many choose unhappiness over uncertainty.
  • #49,566
  • Dec 10, 2009 5:41pm Dec 10, 2009 5:41pm
Have I ever mentioned that I love I4Bs in solid spots; like the eur/usd right now?
I dream, therefore I become.
  • #49,567
  • Dec 10, 2009 5:46pm Dec 10, 2009 5:46pm
Quoting mike w
Have I ever mentioned that I love I4Bs in solid spots; like the eur/usd right now?
yeah i like its counter parts IB also!!
jon
PATIENCE... DISCIPLINE
  • #49,568
  • Dec 10, 2009 5:53pm Dec 10, 2009 5:53pm
Quoting mike w
Have I ever mentioned that I love I4Bs in solid spots; like the eur/usd right now?
Just got a chance to look at the daily charts. Good heads up.

Also got I4(+)B on GBPUSD, USDJPY, and EURJPY.

Looks like something will give soon.

How do you plan to play these Mike? My plan would be to play them on 4 hour Price Action, probably before the US Trading session, to see if the market tips its hand.

Do you just put in a Limit order based on the Daily set-up?

I have no bias in either direction, so that is why I am not putting an order on based on the Daily chart.
  • #49,569
  • Dec 10, 2009 6:33pm Dec 10, 2009 6:33pm
Quoting mike w
Have I ever mentioned that I love I4Bs in solid spots; like the eur/usd right now?
Anyone giving bullish or bearish bias on these????
Many choose unhappiness over uncertainty.
  • #49,570
  • Dec 10, 2009 8:10pm Dec 10, 2009 8:10pm
Quoting Dan Gilbert
Anyone giving bullish or bearish bias on these????
I think that we will see that 1.4630 area PPZ one more time. That's been my TP target for a while. I'm going to bed.

K.I.S.S.
  • #49,571
  • Dec 10, 2009 8:49pm Dec 10, 2009 8:49pm
Quoting KissFan
I think that we will see that 1.4630 area PPZ one more time. That's been my TP target for a while. I'm going to bed.

K.I.S.S.
hmmm I don't know what to say but at me looks like see will go higher, I could be wrong on this but this is just what I see for now

Maybe this is just because it's 4:46 AM my local time

all we can do is wait to see in which direction she will go

wish you the best!

PS: trade wisely
  • #49,572
  • Dec 10, 2009 8:55pm Dec 10, 2009 8:55pm
Quoting unlv_tj
Just got a chance to look at the daily charts. Good heads up.

Also got I4(+)B on GBPUSD, USDJPY, and EURJPY.

Looks like something will give soon.

How do you plan to play these Mike? My plan would be to play them on 4 hour Price Action, probably before the US Trading session, to see if the market tips its hand.

Do you just put in a Limit order based on the Daily set-up?

I have no bias in either direction, so that is why I am not putting an order on based on the Daily chart.
Like you said, I just wait for the market to tip its hand to me first. I like to see 4 hour price action before anything as price will often head towards one direction first only to gain the needed momentum to push through to the other side.
I'm kind of biased up right now (eur/usd) but only because of where we stalled at. That doesn't mean that I'll be buying blindly at all whatsoever though. If the PA doesn't show up, then oh well, I have plenty more setups in the near future to make my cash on.
I dream, therefore I become.
  • #49,573
  • Dec 10, 2009 9:54pm Dec 10, 2009 9:54pm
Quoting Dan Gilbert
I'm going to post this one as a "live trade" so I can show if it is a failure, or if it wins. This is a demo trade, and I invite you to follow me on this one however you wish. I've highlighted the trouble areas with rectangles, and circled the zone where I see a lot of potential resistance to help shoot this breakout trade south. I also scribbled in a little line as a forecast of PA http://cdn.forexfactory.com/images/s.../yim/happy.gif . I know this is a long shot that I will be exactly right, and nobody can predict something this...

sell triggered, moving stop to B/E at 1.6268.....
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Many choose unhappiness over uncertainty.
  • #49,574
  • Dec 10, 2009 10:21pm Dec 10, 2009 10:21pm
Quoting Dan Gilbert
sell triggered, moving stop to B/E at 1.6268.....
good luck bro , i am short a small possition also from 163.15, lets see how she rolls!?!?
jon
PATIENCE... DISCIPLINE
  • #49,575
  • Dec 10, 2009 10:41pm Dec 10, 2009 10:41pm
Quoting g_j_hook@yah
good luck bro , i am short a small possition also from 163.15, lets see how she rolls!?!?
jon
I recognized the 163.15 ppz... I'm happy to see it stalling below that line
Many choose unhappiness over uncertainty.
  • #49,576
  • Dec 10, 2009 11:31pm Dec 10, 2009 11:31pm
Quoting alifari
Try this one. It send screen & email alerts on Horizontal Line, Trendline, Rectangle, Fib.
How does this actually work - does it work on any line u place on there ? Do you have to do anything other than add it to chart ?
  • #49,577
  • Dec 11, 2009 1:28am Dec 11, 2009 1:28am
Quoting ghous
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.
Hey thanks G.

Yea i figured it out very soon after i was in DrawDown .

We say that we learn more from our looses then winners.

But DrawDowns teach with a stick in hand.
  • #49,578
  • Dec 11, 2009 1:38am Dec 11, 2009 1:38am
Another plan

Edit: hey Jlr do we still have a conflict of interest.
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  • #49,579
  • Dec 11, 2009 1:56am Dec 11, 2009 1:56am
Quoting nasir.khan
Another plan

Edit: hey Jlr do we still have a conflict of interest.

Hi.

I had my stop below the bearish 4H Pin which got hit a couple of hours ago. I was considering shorting the 4H pin but decided against it so am flat now.

You may continue with your short now.
  • #49,580
  • Dec 11, 2009 2:12am Dec 11, 2009 2:12am
Quoting ljr
Hi.

I had my stop below the bearish 4H Pin which got hit a couple of hours ago. I was considering shorting the 4H pin but decided against it so am flat now.

You may continue with your short now.
Well thanks for that.
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