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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

  • #63,601
  • Edited 12:53am May 13, 2010 12:34am | Edited 12:53am
Quoting Pinbar
Presumably, Jarroo is already at TP1 somewhere in the vicinity of 1.0110, SL at BE+.

TP2 possibly around 1.0080

Something like that Pb. lol
Indicators show the past. Price Action "Indicates" the future.
  • #63,602
  • May 13, 2010 1:07am May 13, 2010 1:07am
cool, bro

I am watching this IB on daily, and see if H4 provide any clue upon closure.

Another one on watchlist to be posted next


Quoting jarroo
There is nothing like a clear cut PPZ level, no matter what the broker or how Price is cut up.

Now I'm not suggesting these little PBs are A+, but the PPZ levels can work to your trade management advantage when hidding behind them if your looking for a small stop setup.
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  • #63,603
  • May 13, 2010 1:09am May 13, 2010 1:09am
I am a bit attempted to short it now. but, thought could be better do it after closing or break and retest? part of emotional control process now, what a stressful business it is !
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  • #63,604
  • May 13, 2010 1:11am May 13, 2010 1:11am
Quoting jeurre
cool, bro

I am watching this IB on daily, and see if H4 provide any clue upon closure.

Another one on watchlist to be posted next
Something definitely going on there.
Indicators show the past. Price Action "Indicates" the future.
  • #63,605
  • May 13, 2010 1:13am May 13, 2010 1:13am
Quoting mbqb11
Hey Kdee

Welcome to the thread.

If you have not read up on yet please learn about position sizing. While our Risk can remain the same our position size(the amount of lots, or units we use) can change. So if you risk 1% per trade, it can be spread over 50pips or 500 pips and your risk is still 1%. This is how we have the ability to move to higher timeframes and forex is great b/c you can always find a broker that allows you to properly position size your account.

Here are some reference points
http://www.forexfactory.com/showthread.php?t=6948...
Thanks alot Mike and Smikester, i'll adhere to the info and when well digested i'll be back here. thanks
  • #63,606
  • May 13, 2010 1:26am May 13, 2010 1:26am
Quoting spookie94
I'm trying to set up a MT4 account because my GFT is always crashing. Could someone let me know how you send alerts to your cell and set up that spread indicator I see on your charts. Thanks.
Sorry, I must have missed this post.

Here is the spread indicator you are looking for.
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File Type: mq4 Spread.mq4   3 KB | 353 downloads
  • #63,607
  • May 13, 2010 1:50am May 13, 2010 1:50am
I am watching GBP/JPY.

Trouble is, PA is going sideways.
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  • #63,608
  • May 13, 2010 1:52am May 13, 2010 1:52am
Quoting fxeturn
Sorry for my 'noobishness', but I wonder if Sunday bars can be a part of PA too?
Gosh! I did not even think about it when taking the trade. Thanks for bringing that up! I'll add this to my "Don't forget"-list.
Thanks J16, Sam Seiden, Udine and Jacko
  • #63,609
  • May 13, 2010 1:54am May 13, 2010 1:54am
GJ - daily IB and 1HR BEOB off PPZ, falling TL and 61 fib...getting into a break of the IB at a discount? maybe. It hit FTA very quickly.
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  • #63,610
  • May 13, 2010 2:00am May 13, 2010 2:00am
Same setups across most xxx/usd and xxx/jpy pairs...take your pick. G/J and E/J would have been the best as GBP and EUr are the weakest currencies but price moved fast so I only got into AU and GJ...with dow futures bouncing off strong daily resistance as an additional cofluence / confidence factor.
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  • #63,611
  • May 13, 2010 2:04am May 13, 2010 2:04am
Quoting Pinbar
I am watching GBP/JPY.

Trouble is, PA is going sideways.
There's your PA, Pb. BEOB.
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Indicators show the past. Price Action "Indicates" the future.
  • #63,612
  • May 13, 2010 2:06am May 13, 2010 2:06am
Quoting lovejoy80
GJ - daily IB and 1HR BEOB off PPZ, falling TL and 61 fib...getting into a break of the IB at a discount? maybe. It hit FTA very quickly.
Nice one lovejoy.
Indicators show the past. Price Action "Indicates" the future.
  • #63,613
  • May 13, 2010 2:07am May 13, 2010 2:07am
Yeah, I am in on the H4 BEOB

Keeping my eye on the 50 fibo though.


EDIT. Thanks for the confirmation Jarroo.

I entered before I read your post.
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  • #63,614
  • May 13, 2010 2:17am May 13, 2010 2:17am
Testing the 138.
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  • #63,615
  • May 13, 2010 2:27am May 13, 2010 2:27am
Quoting Pinbar
Testing the 138.
It sure did, test the 138.00.

A lot a traffic in this one. Like you said, PA sideways or in a consolidation area. No at a swing high where we would like a BEOB to be.

Gotta go. Manage it wisely.
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Indicators show the past. Price Action "Indicates" the future.
  • #63,616
  • May 13, 2010 2:28am May 13, 2010 2:28am
Quoting jarroo
It sure did, test the 138.00.

A lot a traffic in this one. Like you said, PA sideways or in a consolidation area. No at a swing high like we would like a BEOB it to be.

Gotta go. Manage it wisely.

Remember this post from Mike.

Quoting mbqb11
Hey Han

As you can see PA can work in so many LOCATIONS. But then we have to determine the best course of mgmt. I have taken trades at every location you can think of and all I try to do is figure out the best course of mgmt based on that action. These types I think a quick t/p is best or at least getting to b/e faster b/c these are areas for snap backs to occur(as they were the last true demand). So traders watch it in that manner.

Best
Mike

Later,


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #63,617
  • May 13, 2010 2:33am May 13, 2010 2:33am
with jarroo, it works
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  • #63,618
  • May 13, 2010 2:34am May 13, 2010 2:34am
TP2 SL BE+, it is a free trade right now. Trailing it with a 50 pip TS.

I hear you jarroo, MM is probably more important than entry.
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  • #63,619
  • May 13, 2010 2:35am May 13, 2010 2:35am
waited for one day, it seems on its way now

what should I do for the moment? move stop to BE ? maybe too quick, so, keep wait for a while
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  • #63,620
  • May 13, 2010 2:45am May 13, 2010 2:45am
Remember this: http://www.forexfactory.com/showpost...ostcount=63409

10 pips from FTA is good for me. took full profit
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