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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

  • #55,821
  • Feb 23, 2010 10:23am Feb 23, 2010 10:23am
Very Very simple......CT....Ryanmcd puts it plain n simple......you trying to go against what the charts are saying....i did jump infront of Ryanmcd's two cars, EURNZD & GBPCAD off PBs that were on Swing Lows to stop them BUT guess what............see the charts, you can tell what happened to me.......................HDU....broken account by 6%.........i trend trade these days......take PBs, IBs, OBs in the trend direction..............

Quoting yarin
what went worng?
am i the only one who gonna take a full bar loss on this one?
  • #55,822
  • Feb 23, 2010 10:24am Feb 23, 2010 10:24am
Quoting nasir.khan
Now if (which is a big IF) i could ride DJI all the way down to 10,115 and Gold until 1,082.

I could win this.
.
Good luck!!!!!!!!!

hope you will win the big prize

when it will be the next contest call me I'll be happy to take a pie or two!!

all the best!!
  • #55,823
  • Feb 23, 2010 10:30am Feb 23, 2010 10:30am
Quoting nasir.khan
Now if (which is a big IF) i could ride DJI all the way down to 10,115 and Gold until 1,082.

I could win this.
.

To me, the real line in the sand is what happens at 1100 on Xau/Usd. If this breaks and becomes resistance then 1080 seems almost certain.

Just my thoughts..........Nathan
  • #55,824
  • Feb 23, 2010 10:32am Feb 23, 2010 10:32am
tnx for your awnsers guys,next time only big bars... :|
and with my luck it eat my stop by 2 pips and come back up(its gonna close BOB im telling ya...)
Wellcome to the good life!
  • #55,825
  • Feb 23, 2010 10:45am Feb 23, 2010 10:45am
Quoting triger88990
Good luck!!!!!!!!!

hope you will win the big prize

when it will be the next contest call me I'll be happy to take a pie or two!!

all the best!!
What do think i am fool.

If tell you about the next contest, i have no chance to win.
.
  • #55,826
  • Feb 23, 2010 10:51am Feb 23, 2010 10:51am
Quoting triger88990
Chart EurUsd

This move is result from a clasical 123 pattern break out.

This PB have come in shape after a rejection off of:

-a TL drawn using bar highs
-61.8 fib ret using recent swing high/low
-100% FE

We have setup with the main trend which is down.

The only problem would be those bar highs which we are trading in

PS. thanks bundy for your post,I had some A-HA moments, after going through your post this week, about 123 and FE. But I have just a question do you use it only for targets or you trade off of it.thanks

all the best!...
Quoting triger88990
If I told you that I had another entry at .3680 in my aggressively account test,but I promised I won't talk about those kind of entry anymore in this thread because the purpose of this thread is PA.

No lets focus on this setup,when I saw the break I immediately fly with my thoughts at jaroo statemets.

"A high probability setup is a high momentum setup." Now what made this setup so "wanted",look at the break she never look back.

jaroo statements can save you for a lot of trouble,just make sure you are aware of it

all the best!!...
I'm right here buddy. Great freaking trade. The 4 hour Euro PB is A+ trade in my book. Classic J16 in every way.

This is what I look for in a setup . . .

. . . which brings me to the 2 Day PB on the Usd/Chf. Price went down to 1.0714 and I moved to break even and was stop out for a break even trade. And believe me, I was happy with that. Don't get me wrong, I believe that this setup fullfilled itself but just barely.


I didn't like that intial break of this trade from the get go. The uptrend has been so strong that fighting it is a game for fools. Just ask Ryanmcd, I'm sure he loved your Euro 4 hour PB.

Countertrend trades need to be big and bold and have space and etc., the criteria that Mike drills into our heads. Where as a with the trend, at a retracement level, off PPZ Level (the euro 4 hour PB was off a Daily PPZ level, do you see it? ) , RNs, etc. Are so much easier to manage.


All the best, my friend. Well done.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #55,827
  • Feb 23, 2010 10:52am Feb 23, 2010 10:52am
left a lot on the table, but who cares. thank you Rac
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  • #55,828
  • Feb 23, 2010 10:57am Feb 23, 2010 10:57am
Anyone catch this gravy train?
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lowest draw down possible please.
  • #55,829
  • Feb 23, 2010 10:59am Feb 23, 2010 10:59am
Quoting jarroo
I'm right here buddy. Great freaking trade. The 4 hour Euro PB is A+ trade in my book. Classic J16 in every way.

This is what I look for in a setup . . .

. . . which brings me to the 2 Day PB on the Usd/Chf. Price went down to 1.0714 and I moved to break even and was stop out for a break even trade. And believe me, I was happy with that. Don't get me wrong, I believe that this setup fullfilled itself but just barely.


I didn't like that intial break of this trade from the get go. The uptrend has been so strong that fighting...

Good trade and I still do CT trades, the key now is when I am playing with the trend I can SEE the CT trades setup so I know what everyone else is thinking lol. It's a damn nice edge and most of the time I just close out my position wait and see if the CT players get raped and if they do I get back in on a new low / high when all the CT trades are getting the stops ran
Keep taking CT trades, I need more money
  • #55,830
  • Feb 23, 2010 11:00am Feb 23, 2010 11:00am
Quoting dobe_r_man
To me, the real line in the sand is what happens at 1100 on Xau/Usd. If this breaks and becomes resistance then 1080 seems almost certain.

Just my thoughts..........Nathan
See Nathan why i am convinced about 1082,

1100 is tested 2 times before.

I would have been worried if the third test which is just happened touched the 1100 but it did not which means we will have another revisit.

So every time price hit's a support, odds of breaking it get higher and higher. Like hammering a wall.

Just my thoughts.......... .
.
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  • #55,831
  • Feb 23, 2010 11:03am Feb 23, 2010 11:03am
White line = add into the position, how about 2% risk on 40% return that is all. off to gym until 2:00pm est zzzzzzzzzzzzzzzzz
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Keep taking CT trades, I need more money
  • #55,832
  • Feb 23, 2010 11:06am Feb 23, 2010 11:06am
Quoting nasir.khan
What do think i am fool.

If tell you about the next contest, i have no chance to win.
.
you are a bad boy nasir

I don't think that I could do better than you did in this contest

when I saw the curent ranking I was glad for you, hope I'll see you will manage to escalade till the 1st rank

all the best!
  • #55,833
  • Feb 23, 2010 11:07am Feb 23, 2010 11:07am
Quoting Ryanmcd
Good trade and I still do CT trades, the key now is when I am playing with the trend I can SEE the CT trades setup so I know what everyone else is thinking lol. It's a damn nice edge and most of the time I just close out my position wait and see if the CT players get raped and if they do I get back in on a new low / high when all the CT trades are getting the stops ran
An interesting approach, I like it. lol

But you have to admit that the bread and butter trades are with the trend.

as in your post above.
Indicators show the past. Price Action "Indicates" the future.
  • #55,834
  • Feb 23, 2010 11:08am Feb 23, 2010 11:08am
Quoting jarroo
An interesting approach, I like it. lol

But you have to admit that the bread and butter trades are with the trend.

as in your post above.

Jar000, above chart is just for you!!
Keep taking CT trades, I need more money
  • #55,835
  • Feb 23, 2010 11:13am Feb 23, 2010 11:13am
Quoting Ryanmcd
Jar000, above chart is just for you!!
I should have said . . . bread and butter and steak trades.
Indicators show the past. Price Action "Indicates" the future.
  • #55,836
  • Feb 23, 2010 11:15am Feb 23, 2010 11:15am
Quoting datogio
left a lot on the table, but who cares. thank you Rac

Your getting good datogio.

Your going to have to post more of these charts.
Indicators show the past. Price Action "Indicates" the future.
  • #55,837
  • Feb 23, 2010 11:15am Feb 23, 2010 11:15am
Quoting jarroo
I'm right here buddy. Great freaking trade. The 4 hour Euro PB is A+ trade in my book. Classic J16 in every way.

This is what I look for in a setup . . .

. . . which brings me to the 2 Day PB on the Usd/Chf. Price went down to 1.0714 and I moved to break even and was stop out for a break even trade. And believe me, I was happy with that. Don't get me wrong, I believe that this setup fullfilled itself but just barely.


I didn't like that intial break of this trade from the get go. The uptrend has been so strong that fighting...
thak you Sir

much appreciated

On the usdchf we're both on the same page,I did expected after the break to retrace at .0800 -.0825, where I would like to see a rejection, but I have change my mind after I saw how she bahave at that level, from where I would expected to go a little more down befor she takes off till 1.000-1.100....

all the best!!
  • #55,838
  • Feb 23, 2010 11:19am Feb 23, 2010 11:19am
Quoting Jduester
... I'm learning that I can't simply have a checklist and make a decision blindly without using my God-given mind...

Instead, do the checklist... then ask

"What is the story with this chart?"

"Will other traders, and especially big traders/banks think this pair will move in this direction too? Or will I be trading against them?"

IMO, the answers can only come with chart time (experience) and learning from our trades, both good and poor trades.

Josh

Yes for sure Josh! Once we learn to start reading the story and allow ourselves too it gets a lot easier then trying to fit everything into a box

For me at least
Mike
  • #55,839
  • Feb 23, 2010 11:19am Feb 23, 2010 11:19am
It doesnt get any more dirt simple then this!!! Wait in the bushes for these types of trades and attack!!!

.7000 BRN
Big BEOB
Minor Swing High
And I am sure you can put Fibs on it every which way.

I am out for .5R didnt have a plan past that area so I just took profit. Not super confortabkle holdign on 4 hr trades. Nothing wrong with this. Maybe will get in if closes as a Daily BEOB.

This stuff is dirt simple folks! I am sure Mike got this one. Maybe not though because of some traffic

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  • #55,840
  • Feb 23, 2010 11:21am Feb 23, 2010 11:21am
Quoting dmc

This stuff is dirt simple folks! I am sure Mike got this one. Maybe not though because of some traffic

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Yep took this one too well done DMC. I trade a bit different then most think here about traffic on an intraday level. I have 3 running positions the most exciting one was this.

ok lots of action last night = less sleep = time for coffee before my webinar

Saw some great charts here gonna catch up more later
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