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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

  • #50,541
  • Dec 30, 2009 2:40pm Dec 30, 2009 2:40pm
Quoting raczekfx
what, what, where, what did I miss?
I knew that rac guy was too good to be true... "rentasignal" okay... okay... I get it... practice schmactis

What id are you using?
  • #50,542
  • Dec 30, 2009 2:57pm Dec 30, 2009 2:57pm
Quoting bluetrader
I knew that rac guy was too good to be true... "rentasignal" okay... okay... I get it... practice schmactis

What id are you using?
I have exercised my right to ignore your comment.
Obviously you just started reading this thread,... so good luck with your forex endeavor ....
You will not find many friends here with your attitude.
  • #50,543
  • Dec 30, 2009 3:04pm Dec 30, 2009 3:04pm
Quoting raczekfx
I have exercised my right to ignore your comment.
Sorry Mark... bad joke. I'm currently on page 562, post 8420 and plan to read the entire thread. Big fan of your style of trading and post was only meant as a compliment.

-- Danny
  • #50,544
  • Dec 30, 2009 3:11pm Dec 30, 2009 3:11pm
Quoting bluetrader
Sorry Mark... bad joke. I'm currently on page 562, post 8420 and plan to read the entire thread. Big fan of your style of trading and post was only meant as a compliment.

-- Danny
Can you feel me breathing down your neck?

I'm at post 8401
  • #50,545
  • Dec 30, 2009 3:27pm Dec 30, 2009 3:27pm
Quoting o990l6mh
Can you feel me breathing down your neck?

I'm at post 8401


Knowing the feeling, being there , already done

long road, sometime painful but at the ends it worth all the efforts

I'm at the moment re-reading some greatest post from some friends that are posting here, just for reminding me that it's all the same in my mind... and it is.

and after spending some time this begin to be dirty simple, it's all about visualization.

for the moment I'm just enjoying the holidays, spending time with family and friends, and with an eye checking what is happening on markets and reading my favorite thread .

wish you all the best!
  • #50,546
  • Dec 30, 2009 3:42pm Dec 30, 2009 3:42pm
Quoting raczekfx
what, what, where, what did I miss? Oh, no.. lol.

I'm no sensei, but I'll gladly take your money.

Stop sweating and have some champagne instead....
Trying to catch 5000lbs falling gorilla?.....

Wait for meaningful pullback and go with a trend after liquidity comes back to normal in the new year.
Lot's of space till 25....




Pssst Mike.., don't you need some cash for the New Year's party?

haha yeah I do! champagne aint cheap here
  • #50,547
  • Dec 30, 2009 3:43pm Dec 30, 2009 3:43pm
Quoting Bemac
I agree with Mike but I must have done the Rumplestiltskin thing or something. jan 29 !!! Tell me it isn't so because I wanted to be back Trading by then...
Fudd already found the adult beverages.Even so, he can still out trade me.

K.I.S.S.
  • #50,548
  • Dec 30, 2009 3:48pm Dec 30, 2009 3:48pm
Quoting Bemac
I agree with Mike but I must have done the Rumplestiltskin thing or something. jan 29 !!! Tell me it isn't so because I wanted to be back Trading by then...
ahahahaha I am already in party mode I guess, sorry guys! DEC 29! LOL
  • #50,549
  • Dec 30, 2009 4:05pm Dec 30, 2009 4:05pm
Quoting bluetrader
Sorry Mark... bad joke. I'm currently on page 562, post 8420 and plan to read the entire thread. Big fan of your style of trading and post was only meant as a compliment.

-- Danny
Sorry Danny, If that was a joke, then my bad for not catching it....
We can move forward.

Have a Good and Happy New Year!

P.S. for the record:
I do, have a couple of test systems listed on both z and r, as you might've noticed in my profile.
They're intraday scalps and have very little in common with what we talk about here, hence I don't even recommend looking at them...
R had it listed as free until its management decided to reserve that option for paying elite members only. I guess, recession hit those guys as well..
  • #50,550
  • Dec 30, 2009 4:06pm Dec 30, 2009 4:06pm
Also isnt the previous bar a BEOB? so its two signals one after the other

Quoting mbqb11
Hey Investor

Few notes here. The biggest one for me is that it is jan 29, tomm is the last trading day of the year before the new year holiday. This means so many normal participants are no where to be found. Thus lower liquidity and thus more erratic price movements. IMO trading around this time is more near flipping a coin. Next remember we MUST wait for the bar to close before it is a pin. This could slowly trickle down and then you will be in a bar before the pin is even formed. Don't fear missing a move, I promise there will be enough good...
  • #50,551
  • Dec 30, 2009 4:31pm Dec 30, 2009 4:31pm
Quoting bboyomega83
Also isnt the previous bar a BEOB? so its two signals one after the other
you're right and it's a PB wich was hitting the 150 EMA almost exactly.
I played this one for a quick 40 pip profit, i diddnt expect it to go down under 1.4280 and it diddn't
1.4281 is also a 38 fib lvl for me.

greetings
Never whishing, always trading.
  • #50,552
  • Dec 30, 2009 5:28pm Dec 30, 2009 5:28pm
Here is what I look for. If this wasn't the last day before new years, I would sure be trading this one. Large BUOB engulfing a range of bars and a round number with a very strong close


Mike
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  • #50,553
  • Dec 30, 2009 5:45pm Dec 30, 2009 5:45pm
Quoting mbqb11
Here is what I look for. If this wasn't the last day before new years, I would sure be trading this one. Large BUOB engulfing a range of bars and a round number with a very strong close


Mike
yeah well, i thought about that too....but why risk dec. so well done performance ?
Stop would be 280 pips, very large if you consider a 5k demo acc. so let it go.

the toughest thing is to know when not to trade
Never whishing, always trading.
  • #50,554
  • Dec 30, 2009 5:48pm Dec 30, 2009 5:48pm
Quoting Hova
yeah well, i thought about that too....but why risk dec. so well done performance ?
Stop would be 280 pips, very large if you consider a 5k demo acc. so let it go.

the toughest thing is not to trade
Hey Hova

be sure to read up on position sizing. No matter what your stop size is we can control and keep our risk the same. If you risk 1% per trade, your stop can be 50 pips or 500 pips and the risk not change. Shoot me a PM if you don't know this and I will find some links for you

Best
Mike
  • #50,555
  • Dec 30, 2009 6:04pm Dec 30, 2009 6:04pm
Quoting mbqb11
Here is what I look for. If this wasn't the last day before new years, I would sure be trading this one. Large BUOB engulfing a range of bars and a round number with a very strong close


Mike
Question regarding trade management for you Mike. As you say, it's all hypothetical because of time of year, but if this was a normal day and you took it, what would be your plan at that first trouble area in blue? Move to break even? or watch? Seems like an awfuly close first trouble area so I would be curious to know your thoughts.

And best wishes for the new year to everyone who reads and frequents this thread.
  • #50,556
  • Dec 30, 2009 7:11pm Dec 30, 2009 7:11pm
Quoting TiaForex
Question regarding trade management for you Mike. As you say, it's all hypothetical because of time of year, but if this was a normal day and you took it, what would be your plan at that first trouble area in blue? Move to break even? or watch? Seems like an awfuly close first trouble area so I would be curious to know your thoughts.

And best wishes for the new year to everyone who reads and frequents this thread.
I probably wouldn't do anything at that first marked area, but watch and see how price reacts. Ideally i would want price to break up or not get heavily rejected and then look to trail under a recent bar low etc. More then likely I would have a full take profit not too much higher though since this pair has been relatively choppy. Again this would probably be a watch and trail type situation at least initially.

-Mike

also i should make mention that the 1.6 sits up high on the bar which I love. Really helps to have that area to protect and defend with and use as the battle line so to speak
  • #50,557
  • Dec 30, 2009 9:06pm Dec 30, 2009 9:06pm
Quoting raczekfx
what, what, where, what did I miss? Oh, no.. lol.

I'm no sensei, but I'll gladly take your money.

Stop sweating and have some champagne instead....
Trying to catch 5000lbs falling gorilla?.....

Wait for meaningful pullback and go with a trend after liquidity comes back to normal in the new year.
Lot's of space till 25....

Pssst Mike.., don't you need some cash for the New Year's party?
Holy HUUUGE DBHLC on the monthly Batman....!!!
Thank you for pointing it out Raczekfx...didn't check my monthly...
I be out when my SL gets hit, trailing 40+ pips so far.
On the mean time, this could be the pullback for the monthly DBHLC... will follow closely and surf the wave as develops...

and Hova, I missed this...
Quoting Hova
if it would cross the 365 EMA i would be in
Actually, it is above the red 365, the one its trying to reach is the blue 150...
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That which does not kill me, makes me stronger.
  • #50,558
  • Dec 30, 2009 9:36pm Dec 30, 2009 9:36pm
Quoting Investor7
Actually, it is above the red 365, the one its trying to reach is the blue 150...
Are we sure that price is trying to reach the moving average?

Happy new years everyone. Stay safe (and drunk) and have a good night!
When you have to shoot, shoot. Dont talk.
  • #50,559
  • Dec 30, 2009 11:35pm Dec 30, 2009 11:35pm
Quoting joelcf
Are we sure that price is trying to reach the moving average?
Moving average?? The lagging indicator? Hmmmmm..
I'd say good luck
  • #50,560
  • Dec 30, 2009 11:49pm Dec 30, 2009 11:49pm
Quoting mbqb11
Here is what I look for. If this wasn't the last day before new years, I would sure be trading this one. Large BUOB engulfing a range of bars and a round number with a very strong close


Mike
I'm safe now
Let this one run for some happy pips while I'm enjoying the New Year's Eve tonight!
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