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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

  • #58,281
  • Mar 16, 2010 8:24am Mar 16, 2010 8:24am
Quoting nasir.khan
Lets if we could get some Bearish PA here. (Just Closed My longs)
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Guess who (ccy) would be the best performer in this scenario???
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A BOUB would be nice.......
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  • #58,282
  • Mar 16, 2010 8:31am Mar 16, 2010 8:31am
BEOB has broken and TL Break + Retest in 1H.
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  • #58,283
  • Mar 16, 2010 8:47am Mar 16, 2010 8:47am
Quoting neutro
I was wondering.. How's fijitrader doing with the cyclone and all?
Cyclone in Fiji? how strong?
Hopefully he's ok
  • #58,284
  • Mar 16, 2010 8:52am Mar 16, 2010 8:52am
Quoting Dan Gilbert
I know this thread is not a signal service, so I'm just going to say two things right now.

1. EURUSD

2. buy-limit



that is all
Live account touch trade, 1.5% risk.

My S/L is at breakeven right now. Basically the yellow trendline was the key to my trade. Initial S/L is marked by red horizontal dotted line @ 1.3620. PPZ is highlighted with blue box, trouble areas are marked by dark blue horizontal lines. I withstood some drawdown when the trade was triggered, but it ain't a thang
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Many choose unhappiness over uncertainty.
  • #58,285
  • Mar 16, 2010 8:54am Mar 16, 2010 8:54am
Quoting Dan Gilbert
Live account touch trade, 1.5% risk.

My S/L is at breakeven right now. Basically the yellow trendline was the key to my trade. Initial S/L is marked by red horizontal dotted line. PPZ is highlighted with blue box, trouble areas are marked by dark blue horizontal lines. I withstood some drawdown when the trade was triggered, but it ain't a thang
This guy is getting better and better.
.
  • #58,286
  • Mar 16, 2010 9:02am Mar 16, 2010 9:02am
Quoting supremeChaos
Cyclone in Fiji? how strong?
Hopefully he's ok
http://news.yahoo.com/s/ap/20100316/...s_fiji_cyclone

State of emergency and all...
  • #58,287
  • Mar 16, 2010 9:16am Mar 16, 2010 9:16am
He posted in the PF yesterday afternoon on an unrelated subject.

Can't find any reference to the storm.

BMc
  • #58,288
  • Mar 16, 2010 9:35am Mar 16, 2010 9:35am
Quoting mbqb11
Hey Skin

These are tough here, where your 61.8 is lines up with the first trouble area(that is why I am referencing that line)....
Hi Mike and K.I.S.S

Really appreciate your valuable comments, after learning to trade using indicator from various forex course for almost 2yr, my trading skill is still going no where until i read the first post of james. So i decided to try out on how james help beginner like me using his advise to progress. So at the moment i only look at D1 chart for my entry, stop and analysis. Since i am trading demo, i can place a bigger stop but of cos only when i got profit from trading D1 chart only, then i will start to look at smaller time frame to fine tune my stop. I think this is the only place i can find to get valuable comments for FOC. I think i still have problem looking for good S/R line when looking at my chart. Hope i can learn more from you guys. Thanks alot....!!!

skin
  • #58,289
  • Edited 10:01am Mar 16, 2010 10:00am | Edited 10:01am
Quoting KissFan
Hey Skin. Id say that he safe money has already been made in that trade. The price did exactly what we would expect. It broke the pin, went to the first area of support and retraced back. You can wait and hope for the price to go down here and it just might but that's not how we do it.

K.I.S.S.
An AMEN from the back row.

" Id say the safe money has already been made on that trade ".....KISS

Man that is an awesome concept. I will be printing that out and posting alongside one of the screens. Right next to "Bears get fed bulls get fed , but pigs get slaughtered."
  • #58,290
  • Mar 16, 2010 10:42am Mar 16, 2010 10:42am
Quoting neutro
http://news.yahoo.com/s/ap/20100316/...s_fiji_cyclone

State of emergency and all...
Fiji has left the building....

He moved from Fiji a while back - seems the military government lacks scruples...
I'm pretty much done with all this ...
  • #58,291
  • Mar 16, 2010 10:46am Mar 16, 2010 10:46am
Quoting lovejoy80
Took half of @ 1.5085 for a 2% gain and moved SL up to 1.5030 on the other half...with TP set @ 1.5200 will move stop loss up to 1.5085 if we get to 1.5125
TP hit for a 98 pips profit and more importantly 2.4R.

A couple of 'continuation' bars I took today

1. GBP / CHF - 4H BUOB - taken some off at first trouble area and the rest at BE

2. EUR / GBP - 4H BEOB and 1HR breakout and retrace of TL (Nasir outlined this one earlier). Again some taken off at 1st trouble area and the rest at BE.
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  • #58,292
  • Mar 16, 2010 10:53am Mar 16, 2010 10:53am
If we break 1.5217 we should head on up without too much trouble to 1.5340 area which coincides with the 1.382 ext from last weeks range. I think that 1.5700 will be a very acheivable target from there. After last nights shake out I am more comfortable buying GU.

K.I.S.S.
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  • #58,293
  • Mar 16, 2010 11:07am Mar 16, 2010 11:07am
Quoting lovejoy80
It is an advanced entry without any PA...price did not close below the 1.5000 area - that was very important, if it did then yes I would not have initiated a long and would have been looking at a breakout and pullback opportunity to go short.

I entered when it broke down and then retraced and closed above the 1.5000 area...it is higher risk because there is not PA to confirm the entry, but it is about knowing how to read your charts...I study the USD crosses quite closely and you get to learn how they move. The fact that it was retracing hard...
You explained it very well. Thank-you!
  • #58,294
  • Mar 16, 2010 11:20am Mar 16, 2010 11:20am
Quoting KissFan
If we break 1.5217 we should head on up without too much trouble to 1.5340 area which coincides with the 1.382 ext from last weeks range. I think that 1.5700 will be a very acheivable target from there. After last nights shake out I am more comfortable buying GU.

K.I.S.S.
love the chart, KISS


Taking in consideration how the weekly chart look,those 2 weeks of strong rejection was a clear signal that the short term move on the daily chart it would reverse.

Going down to the 4h chart we could take the opportunity to reduce the risk by taking the BUOB which engulf several last candles. This BUOB was developed afeter a rejection off of big psychological number 1.5, aligned perfectly with 50-61.8 fib from the last swings points.

Don't forget that this big round number have the tendency to cluster big orders increasing the likelihood that trends reverse at such levels.

just my humble opinion

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  • #58,295
  • Mar 16, 2010 11:26am Mar 16, 2010 11:26am
Quoting triger88990
love the chart, KISS


Taking in consideration how the weekly chart look,those 2 weeks of strong rejection was a clear signal that the short term move on the daily chart it would reverse.

Going down to the 4h chart we could take the opportunity to reduce the risk by taking the BUOB which engulf several last candles. This BUOB was developed afeter a rejection off of big psychological number 1.5, aligned perfectly with 50-61.8 fib from the last swings points.

Don't forget that this big round number have the tendency to cluster big orders increasing...
All very good points triger.

K.I.S.S.
  • #58,296
  • Mar 16, 2010 11:35am Mar 16, 2010 11:35am
Quoting triger88990
love the chart, KISS


Taking in consideration how the weekly chart look,those 2 weeks of strong rejection was a clear signal that the short term move on the daily chart it would reverse.

Going down to the 4h chart we could take the opportunity to reduce the risk by taking the BUOB which engulf several last candles. This BUOB was developed afeter a rejection off of big psychological number 1.5, aligned perfectly with 50-61.8 fib from the last swings points.

Don't forget that this big round number have the tendency to cluster big orders increasing...
Like a noob that I thought I wasn't, I got stopped out at 1.4990 from my weekly trade... Thought that BRN and 61.8% fib would have been enough for stopping the downmove dead-on, but the bears got a final push..

Oh well, food for thought, one demo loss that goes under the belt, into the jurnal and into the experience column.

Oh, and James updated the first post.. Just saw it.
  • #58,297
  • Mar 16, 2010 12:05pm Mar 16, 2010 12:05pm
Quoting neutro
Like a noob that I thought I wasn't, I got stopped out at 1.4990 from my weekly trade... Thought that BRN and 61.8% fib would have been enough for stopping the downmove dead-on, but the bears got a final push..

Oh well, food for thought, one demo loss that goes under the belt, into the jurnal and into the experience column.

Oh, and James updated the first post.. Just saw it.

All the move you have taken in is reasoned.

After the break of the weekly PB you would expected price to go further up but instead it cause a huge sell of.There where triggered stops order from the guys who where short already, their stops where use to provide liguidity to the big guys so price can be push more lower,without the small players.


If you would have use a buffer like mike suggested you will be released by a lot off uncomfortable problems,like those fakes breakouts. You don't need to chasee any trade late the market to come to you don't forget that a high setup is a high momentum setups,knowing this you would have the necessary patience to wait for a clear break,and not have fear that you would get in at a worse price,this can escape you for a lot of troubles

You should not be taken out becasue you stop loss should be opposite to PA so I don't get it how you manage it to loss it.

all the best!!
  • #58,298
  • Mar 16, 2010 12:13pm Mar 16, 2010 12:13pm
Daily AUDJPY - any thoughts?

I actually took the long from 29 today for 70 pips profit.
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"I made all my money by selling too soon"
  • #58,299
  • Mar 16, 2010 12:16pm Mar 16, 2010 12:16pm
Quoting triger88990
All the move you have taken in is reasoned.

After the break of the weekly PB you would expected price to go further up but instead it cause a huge sell of.There where triggered...
I placed it under BRN and 61.8% percent of last swing high-low. I mixed daily with weekly, and I guess I shouldn't of have.

Thanks for the info, I'm here to learn and do it for the long term.
  • #58,300
  • Mar 16, 2010 12:29pm Mar 16, 2010 12:29pm
Quoting neutro
I placed it under BRN and 61.8% percent of last swing high-low. I mixed daily with weekly, and I guess I shouldn't of have.

Thanks for the info, I'm here to learn and do it for the long term.
Ok no problem buddy we are all here to learn and improve our skills but most of all to learn from the past.

enjoy your journey,it will be a painful one but if you believe in yourself,have dedication and never quit,you will be a winner at the end The price of victory is high but so are the rewards.


all the best!!
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