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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

  • #49,701
  • Dec 14, 2009 11:48am Dec 14, 2009 11:48am
50+61 lining up + Daily/Weekly Pivot + 1.6500 round number + Trend line.

is it enough.
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  • #49,702
  • Dec 14, 2009 11:48am Dec 14, 2009 11:48am
Hi Guys,

It is so typical choppy days before Christmas.

There are still some price action that could make us some pips. Anyway, as long as our capital are protected, even BE trade are still winners.
  • #49,703
  • Dec 14, 2009 11:51am Dec 14, 2009 11:51am
Quoting nasir.khan
50+61 lining up + Daily/Weekly Pivot + 1.6500 round number + Trend line.

is it enough.

Hello Nasir,

This is the level I have marked in RED box already. Maybe Rac's sell order is well placed there already.

PippingM
  • #49,704
  • Dec 14, 2009 12:26pm Dec 14, 2009 12:26pm
Quoting PippingMama
Hi Guys,

It is so typical choppy days before Christmas.

There are still some price action that could make us some pips. Anyway, as long as our capital are protected, even BE trade are still winners.
Yep this is very common with Holiday trading. Markets are so whippy and dead I am still holding my gold shorts, but I am not looking to get involved when things are like this. Things can turn and chop you out real quick

Mike
  • #49,705
  • Dec 14, 2009 12:50pm Dec 14, 2009 12:50pm
Quoting PippingMama
Hello Nasir,

This is the level I have marked in RED box already. Maybe Rac's sell order is well placed there already.

PippingM
i see,

I have a real super slow (115 Kb) interenet connection here so did not browse previous pages. Just manages to run MT4 and opens FF after several attempts.

Took these trades just while ago.

EG and NU have a pin in 1H rest are touch trades lets see.
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  • #49,706
  • Dec 14, 2009 1:05pm Dec 14, 2009 1:05pm
gbpchf

resistance at about 1.6830 plus trendline.

short?

your thoughts?
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meine augen sind die sterne
  • #49,707
  • Dec 14, 2009 1:20pm Dec 14, 2009 1:20pm
Quoting nasir.khan
i see,

I have a real super slow (115 Kb) interenet connection here so did not browse previous pages. Just manages to run MT4 and opens FF after several attempts.

Took these trades just while ago.

EG and NU have a pin in 1H rest are touch trades lets see.

Hello Nasir,

Not too much confluence on any of those trade and market is too choppy now.

If it is demoing, that ok. I would not risk any money on those trade.

I would rather wait for the 6500 area on GU for PA. Otherwise, I will stay aside and do some reading.

Haha... Pretty boring before Christmas !

PippingM
  • #49,708
  • Dec 14, 2009 1:37pm Dec 14, 2009 1:37pm
Quoting PippingMama
Hello Nasir,

Not too much confluence on any of those trade and market is too choppy now.

If it is demoing, that ok. I would not risk any money on those trade.

I would rather wait for the 6500 area on GU for PA. Otherwise, I will stay aside and do some reading.

Haha... Pretty boring before Christmas !

PippingM
Thanks for the comments,

Thats a demo.

Well i will agree completley with you on GU.

Rest (EG,NU,UJ,GC) are based on Daily/Weekly Pivot Zones, are between the 50-61 Fibs, have Trendlines and EG,GC have some Divergence also.
  • #49,709
  • Dec 14, 2009 2:05pm Dec 14, 2009 2:05pm
Quoting nasir.khan
Thanks for the comments,

Thats a demo.

Well i will agree completley with you on GU.

Rest (EG,NU,UJ,GC) are based on Daily/Weekly Pivot Zones, are between the 50-61 Fibs, have Trendlines and EG,GC have some Divergence also.

Hello Nasir,

I have a personal advice on those demo trade. It is no harm to test on demo, but it won't give confidence at all when you go for actual live trading or large position.

The problem of demo is will give confidence on some of the low probabilty trade that "works" when you demo. Actually, you will find that you have lower chance working out when you play with live acct.

I would suggest demo on the trade that has high chance that will work which what J16 suggest on high confluenced area and important pivot zone. Also the trendline has to be very obvious too. Otherwise, demo on low probability trade will give us wrong impression or false signal when we go for live account.

I would still love Mike's conservative approach that trade with PA and Jaroo and James tight managment on some of the questionable trade.

Even Rac's touch trade will also place on those heavy confluenced area and very obvious area. Like the GU 1.6500 that you point out.

We want to make money not to risk our capital. That's all.

Good luck!

PippingM
  • #49,710
  • Dec 14, 2009 2:32pm Dec 14, 2009 2:32pm
Hi

Anyone looking at USD/CAD at the moment. I believe there may be a potential short on here on the 4h and daily, though there is choppy price below. But I'm new here, and would like to see some one with more experience in J16 give it a proper J16 evaluation.
  • #49,711
  • Dec 14, 2009 2:43pm Dec 14, 2009 2:43pm
Quoting nasir.khan
i see,

I have a real super slow (115 Kb) interenet connection here so did not browse previous pages. Just manages to run MT4 and opens FF after several attempts.

Took these trades just while ago.

EG and NU have a pin in 1H rest are touch trades lets see.
IMO (take it for whats it worth, not a rac), you took all of these on 2nd, or 3rd touches (like E/G). IMO its best to get in on the first touch, anything after that from my experience is gambling. Sometimes you hit, sometimes you can't even get to B/E, and that is where trouble starts. E/G in particular looks like the biggest gamble, as its already bounced from that level twice, and has put in lower highs both times. It's just looking to break lower imo. Other then that, I think you have the right idea.
  • #49,712
  • Dec 14, 2009 2:53pm Dec 14, 2009 2:53pm
Quoting Pip Pride
Hi

Anyone looking at USD/CAD at the moment. I believe there may be a potential short on here on the 4h and daily, though there is choppy price below. But I'm new here, and would like to see some one with more experience in J16 give it a proper J16 evaluation.

Hello,

Taking this is ok but you obvious find it is too choppy already. Also the price is ranging in a potential triangle area. What you risk is much less that what you could possible gain for. Try to think about the potential reward, you might want to skip this trade.
You have to risk around 100 pips to gain for maybe 25 pips to around 50 pips mostly, the blue box underneath the bar pinbar and the triangle lines.

It is easily to find a pin but you have to consider everything together. It is important when you go for live trading and play with large position.

PippingM
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  • #49,713
  • Dec 14, 2009 3:23pm Dec 14, 2009 3:23pm
Hi PippinM

Thank you for that. I don't think I would have taken that trade (even on demo). Somehow it looked inviting but I knew it wasn't right, probably obvious in hindsight. Even if it does come off, there would seem to be too much risk on the table. I've still a lot to learn here.

Regards

Pride
  • #49,714
  • Dec 14, 2009 3:27pm Dec 14, 2009 3:27pm
Quoting Pip Pride
Hi

Anyone looking at USD/CAD at the moment. I believe there may be a potential short on here on the 4h and daily, though there is choppy price below. But I'm new here, and would like to see some one with more experience in J16 give it a proper J16 evaluation.
Hey Pip Pride

This is winding up real tight. I will never trade within a wedge this tight. I always wait for the breakout opportunity outside this wedge(which is right on the 1.05 which I especially like.


Mike
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  • #49,715
  • Dec 14, 2009 3:52pm Dec 14, 2009 3:52pm
Quoting mmurata2
Hello.
Could someone kindly advise if my understanding of placing a trade with a Double Low price action as per attached is correct ?

EURJPY 1HR chart, major trend is a downtrend.
Double Low/High as a sign of continuation of the current trend.
So, place a short order about 10 pips below the low (129.77 - 0.10 = 129.67) with a traget as approx. 10 pips less the previous swing low.

1 bar before these Double Low was an inside bar after the huge spike up.
If I were able to caught that then, I should have placed a short order below the inside...
Hi mm, I'm new as well, so please don't take my comments as a rule, but I can tell you my interpretation and hopefully it can help. The seniors and prior posts can summarize much better.

Your pip buffer of 10 pips on lower time frames (1 hour) is a bit much imo. 10 pips is advised for higher time frames like the daily. Exits are subjective so you would have to decide what is best for you. Some use a trailing stop, s/r hiding, partial exits, and yet others use a target. It's really up to what makes you feel most comfortable. What I've learned is having an idea of what to do when price hits certain areas has helped me manage trades with less stress.

Yes, I would agree with your interpretation of the inside bar and entry trigger.

Good luck.

-- Danny
  • #49,716
  • Dec 14, 2009 4:04pm Dec 14, 2009 4:04pm
Hi, Danny.
Thank you very much for your comments and advise.
I appreciate it very much.
  • #49,717
  • Dec 14, 2009 4:11pm Dec 14, 2009 4:11pm
Show me some PA here. I'd like to sell you some silver.

K.I.S.S.
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  • #49,718
  • Dec 14, 2009 5:06pm Dec 14, 2009 5:06pm
any good setup this asia ?

-i like this thread as you are all keep posting opportunity -
  • #49,719
  • Dec 14, 2009 5:34pm Dec 14, 2009 5:34pm
Quoting mmurata2
Hi, Danny.
Thank you very much for your comments and advise.
I appreciate it very much.
Hey MM

I missed your post b/c of the delay for the new members screening.

1hr inside bars are super super tricky. I like how you pieced the information together, but this is real tough with inside bars. I would stick to the pins/outside bars initially. I feel the learning curve there is much faster.

Also a general rule are the more bar highs/lows in a row/area the better. Especially on such a low timeframe. I wouldn't put too much though into a 2bar low on the hourly as they happen often. Now if it was a 8-10 bar low you got something. I like to find multiple bar highs/lows on daily/weekly, those can be very very strong.

Just some thoughts and welcome to the thread
Mike
  • #49,720
  • Dec 14, 2009 5:56pm Dec 14, 2009 5:56pm
It'd be a shame if that UCAD breaks between Christmas and New Year....because it sure is purdy.

But this low liquidity choppiness is giving me a headache.... And making me distrust any price action that does appear.

Ah well, we get paid to wait.
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