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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

  • #50,561
  • Dec 31, 2009 1:25am Dec 31, 2009 1:25am
Quoting hijackxx
Moving average?? The lagging indicator? Hmmmmm..
I'd say good luck
Well, not bad for 130 pips and counting... we just cashed 50%...
HAPPYYYY NEW YEARRRRR.......

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That which does not kill me, makes me stronger.
  • #50,562
  • Dec 31, 2009 1:41am Dec 31, 2009 1:41am
hi guys, read thru these thread for the past few days, just for confirmation, do you guys use a broker that has a daily chart that closes on 12 midnight new york time?? or a daily chart that closes when new york trading time closes , which is around 5pm new york time ?
  • #50,563
  • Dec 31, 2009 2:15am Dec 31, 2009 2:15am
Quoting smallkuku
hi ...do you guys use a broker that has a daily chart that closes on 12 midnight new york time?? or a daily chart that closes when new york trading time closes , which is around 5pm new york time ?
some senior traders here & within FF prefer the 5pm NY close as 'the close'. in line with that, u can use MT4 brokers with the said 5pm close like FXPro etc

see the list here or here.
  • #50,564
  • Dec 31, 2009 3:10am Dec 31, 2009 3:10am
Quoting supremeChaos
some senior traders here & within FF prefer the 5pm NY close as 'the close'. in line with that, u can use MT4 brokers with the said 5pm close like FXPro etc

see the list here or here.
Right. I have done a lot of study on this topic. My conclusion is that there is no official day-end hours, but globally most people use New York 5 pm as the day-end hour.

Also, since it is New York time not the Eastern Standard Time, there is one-hour shifting for the day-end hour when changing from winter to summer or from summer to winter. The shifting I think is to make consistency with their local office hours.
  • #50,565
  • Edited 4:01am Dec 31, 2009 3:24am | Edited 4:01am
Quoting Investor7

and Hova, I missed this...

Actually, it is above the red 365, the one its trying to reach is the blue 150...
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I thought you were talking about the PB on 30/12
Never whishing, always trading.
  • #50,566
  • Dec 31, 2009 4:35am Dec 31, 2009 4:35am
Hi everybody

Could someone please eplain me what was the mistake by taking this (demo) trade?
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  • #50,567
  • Dec 31, 2009 4:54am Dec 31, 2009 4:54am
Quoting Jams
Hi everybody

Could someone please eplain me what was the mistake by taking this (demo) trade?
Hi James

i took this trade at 1.0392, but seeing that resistance @ 1.0425 (on my chart) i closed half the position @ 1.0415 and moved SL to BE, not a big move at all, but pip size is only the secondary goal, get a free trade/make no loss is my first

have a nice day
Never whishing, always trading.
  • #50,568
  • Dec 31, 2009 5:06am Dec 31, 2009 5:06am
Quoting Jams
Hi everybody

Could someone please eplain me what was the mistake by taking this (demo) trade?
Well it hasn't failed yet but i think the main problem is you were trading right at the 1.0400 round number and also the bar low from 18/12/2008 would have worried me and if I took this i would also have moved the stop up very quickly.

Also the Pin is not very big and has occured after only as minor retrace to the last move up. I prefer to see PA at the 50% or 61.8% fibs.
  • #50,569
  • Dec 31, 2009 5:27am Dec 31, 2009 5:27am
anyone playing UJ H4 pinbar???
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  • #50,570
  • Dec 31, 2009 6:27am Dec 31, 2009 6:27am
Quoting smallkuku
anyone playing UJ H4 pinbar???
On daily it touched the 150EMA and 92 round number, if you try it, keep SL close and see what happens.
1st target would be yesterday's high -10 or 15 pips

sry - i already had some drinks
Never whishing, always trading.
  • #50,571
  • Dec 31, 2009 6:37am Dec 31, 2009 6:37am
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
Hi Mike. This would have been a great trade! You are great!
  • #50,572
  • Dec 31, 2009 7:03am Dec 31, 2009 7:03am
Quoting raczekfx
... Have a Good and Happy New Year!
Thanks Mark. Have a Great New Year... may you and all the great J16'ers double their pips in 2010.

Quoting o990l6mh
Can you feel me breathing down your neck?

I'm at post 8401
I feel you o990l6mh... great stuff!


Quoting bluetrader
Also long NZD/USD on the 2 day pin bar...
Just closed out N/U at my target @.7280 (aqua arrow)
Love it when price does exactly what you expect. It even stalled in the gray box for a few hours before hitting my target. Beautiful stuff.

Thank you James/Mike/Rac and all the seniors who make this thread a great place to learn.
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  • #50,573
  • Dec 31, 2009 7:14am Dec 31, 2009 7:14am
Quoting ghous
Oh Boy.

That was running into any and every possible obstruction you could think of.

9000 round number ppz

50 fib

150 ema

365 ema

you name it...

Now that you've made it through I hope it's already a free trade, you can't let those hurt you.

g.
Yea that was so dumb of me actually.

I came from a long vacation just opened the charts and saw it and couldn't help to pulling trigger.

but GU is looking pretty.
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  • #50,574
  • Dec 31, 2009 7:46am Dec 31, 2009 7:46am
Quoting nasir.khan
Yea that was so dumb of me actually.

I came from a long vacation just opened the charts and saw it and couldn't help to pulling trigger.

but GU is looking pretty.
hi mate, dont be hard on yourself , i think it was a good trade. once price made it through that .9000 level it had nothing much to stop it and everything going for it!. i was stopped out on my first attempt at 9023 (15 pips stop),before the beob formed, and re-entered at 8993 with a 15 pip stop (after the break of the beob)so iv more than made up for the first loss with + 117 as i write with half of the possition.
nice catch on the gb trade aswell!
jon
PATIENCE... DISCIPLINE
  • #50,575
  • Dec 31, 2009 7:29pm Dec 31, 2009 7:29pm
Quoting StoragePro
I have read some posts lately regarding on Psychology. Interesting

My 3 month absence from this fine group was spawned because of that very thing. I am not blessed with the perfect psychology - and I doubt highly that anyone is. In three short months I've learned a lot - and I am just beginning.

One thing stands out starkly to me now is that there is no such thing as "Trading Psychology" as if it were something different from your day to day self.

Your *personal* Psychology is your Trading Psychology. There is no demarcation between who you...
Welcome back SP. You were missed when you had your three months of off time. What did you learn in the time and why did you decide to return?
  • #50,576
  • Jan 1, 2010 4:23am Jan 1, 2010 4:23am
Quoting Jams
Hi everybody

Could someone please eplain me what was the mistake by taking this (demo) trade?
Price Action is showing trending from resistance to support
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  • #50,577
  • Jan 1, 2010 8:58am Jan 1, 2010 8:58am
Hi!

First of all Happy New Year to everyone!

Im a new member to this forum, well i've been following this thread for about a month now and decided to reigster to FF.

I've been trading on demo since August 08 and recently opened my first real account.

Like i said before i followed this thread the for last month and you guys have taught me a lot. With every new post i learn something new, so i would like to thank you all, especially James16 who created this thread which helps new useres like me to learn how to trade profitably.
  • #50,578
  • Jan 1, 2010 9:04am Jan 1, 2010 9:04am
Quoting Mr_Black
Price Action is showing trending from resistance to support
yes look at the weekly chart there is a pretty strong resistance around 1.0540-1.0550

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  • #50,579
  • Jan 1, 2010 10:38am Jan 1, 2010 10:38am
Hi Guys,
I am trading daily PB's. I am having a bit of trouble "trading with the trend". If I am looking at the daily chart and price is in an upwards trend, but is, for example, downwards on the weely chart. What would I define as the trend to "trade with"?

Another problem is that I think I am putting too many s&r lines on my charts, resuting in me taking PB set-ups off weaker s&r lines. How can I dilute these to show the best? Is there a point where there are too many s&r lines on a chart?

All help appreciated.
"Fail to prepare, prepare to fail."
  • #50,580
  • Jan 1, 2010 10:52am Jan 1, 2010 10:52am
2010 is here. This will be an excellent year I know. a real tragedy will have to strike for it to be worse than 2009 lol. what an awful year 2009 was. i know a lot of you in this thread made 2009 an epic year for yourselves and don't know what I'm talking about. Keep it up guys, I'm listening attentively to you all.


*here's to the high's and low's of our goals we can anticipate in 2010.*
Many choose unhappiness over uncertainty.
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