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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

  • #64,061
  • May 18, 2010 4:54am May 18, 2010 4:54am
cheers joelcf.........hobos under a bridge

Quoting joelcf
Ignore sunday bars. They are super low volume, short session and most people dont even show them on charts, since the only people trading them are a couple of hobos under a bridge.
  • #64,062
  • May 18, 2010 4:57am May 18, 2010 4:57am
Quoting emiliolopez
....
that's close enough.
gracias, seņor
  • #64,063
  • May 18, 2010 4:58am May 18, 2010 4:58am
german dax on H1. what do you think about the pinbar?

sorry, i couldn't post a better chart...
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meine augen sind die sterne
  • #64,064
  • May 18, 2010 5:05am May 18, 2010 5:05am
Quoting skinfx
any comments on this eurjpy pb. my FTA is at 115.80. In H1 i notice that the past 3 candle is reject at 115. So does this means the bar is not breaking hard and may not reach my FTA. I am still learning to manage my trade.
...
i checked H1 & H4 too, indeed quick rejections around 115. looks like it's not a good hard break.

by the way, that PB is pretty small. it could be a pause PB (temporary pause in the downtrend). also the PB's high is just below the 115.00 (this round number may have caused trouble)

good/great setups are easier to manage. (because they often reach the target/s quickly or they move toward/stay near the target quickly)

on this eurjpy setup, depending on your taste/style, u can put SL to BE quick (or BE + X), &/or 'babysit' it (to see how price moves), since this is CounterTrend. also with CT setups, try not to expect much (profit).

hope this helps
  • #64,065
  • May 18, 2010 5:09am May 18, 2010 5:09am
Just watching this pair....USD/CHF
Attached Image(s) (click to enlarge)
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  • #64,066
  • May 18, 2010 5:12am May 18, 2010 5:12am
Quoting aserbfx
german dax on H1. what do you think about the pinbar?
sorry, i couldn't post a better chart...
wow, what a challenging chart!
German index in German

i did a little research... so 'stunde' is 'hour'.
so this is a 1 hour DAX chart.

small PB off a minor PPZ, double top.
heading to 6.00... & potentially further down or start ranging
  • #64,067
  • May 18, 2010 5:17am May 18, 2010 5:17am
Quoting supremeChaos
wow, what a challenging chart!
German index in German

i did a little research... so 'stunde' is 'hour'.
so this is a 1 hour DAX chart.
thanks. but i wrote: german dax on H1.
meine augen sind die sterne
  • #64,068
  • May 18, 2010 5:19am May 18, 2010 5:19am
Hi SC,

Thanks for your reply, so if you mention babysit, do you still wait for the candle to close in H1 or H4 or just close out any time without the candle complete.

Thanks,
skin
  • #64,069
  • May 18, 2010 5:26am May 18, 2010 5:26am
Quoting aserbfx
thanks. but i wrote: german dax on H1.
LOL..
i was so excited to see an index chart, that i overlooked that part of your post.
i learned something new in the process (of overlooking), so it's great.
  • #64,070
  • May 18, 2010 5:35am May 18, 2010 5:35am
Quoting skinfx
..so if you mention babysit, do you still wait for the candle to close in H1 or H4 or just close out any time without the candle complete.
...
personally, i look at other TF's (higher & lower TFs) to see what's happening 'under the hood'.
i'll probably have my stop at BE + X (BE + a few pips), at the same time have a target on. i'll see which of the two gets hit first.
or, if price starts moving in my favor, i'll tighten my trail.stop &/or widen my target.
i dont have a job, so i have the luxury of time (to monitor my trades).... so i can manage/trade accordingly.

u may have a different situation & most likely have a different trading style, taste, & risk appetite, so trade within your own comfort zone.

EDIT: eurjpy is above 115.00 again... so try to manage it wellhttp://cdn.forexfactory.com/images/s...im/winking.gif
  • #64,071
  • May 18, 2010 6:08am May 18, 2010 6:08am
Quoting six gun
classic teaching and was just discussed on the forum is you follow the higher time frames.
You don't decide on a tick chart to go long when the weekly chart is saying short.
It really depends on your trade horizon. If you are trading a tick chart, you can definitely take long or short positions, regardless of what the weekly says.

Multiframe confluence is nice if you want to swing a position, but it isnt by any means necessary. As a general rule, I only care about the weekly if I am looking at the daily. If I am looking at a 5m chart, the weekly could be on the beach in Cancun for all I care.

Obviously, this is a different situation to one where you are trying to massage a nice entry (that sounded a bit suspect!) on one timeframe by droppingdown to a lower one.
When you have to shoot, shoot. Dont talk.
  • #64,072
  • May 18, 2010 6:28am May 18, 2010 6:28am
Quoting Atc
Just watching this pair....USD/CHF
Hi Atc

Watching this one AS WELL. Put an order on and waiting......have a buffer for daily trades so put order at 1280. Came down to 282 but went back up!
PA is where its at!!
  • #64,073
  • May 18, 2010 6:34am May 18, 2010 6:34am
Quoting joelcf
If I am looking at a 5m chart, the weekly could be on the beach in Cancun for all I care.
Just googled Cancum. I think I'll stick with the weekly chart, it looks great in Cancum!
  • #64,074
  • May 18, 2010 6:53am May 18, 2010 6:53am
Quoting bertie123
Hi Atc

Watching this one AS WELL. Put an order on and waiting......have a buffer for daily trades so put order at 1280. Came down to 282 but went back up!
just a quickie for me
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  • #64,075
  • May 18, 2010 7:01am May 18, 2010 7:01am
I know we're focused on currencies but did anyone mention Daily Pins on the Dow ES and YM ? for a long
  • #64,076
  • May 18, 2010 7:07am May 18, 2010 7:07am
Quoting Atc
I know we're focused on currencies but did anyone mention Daily Pins on the Dow ES and YM ? for a long
I know this is Forex Factory but does anyone know of a good thread on here following indices?

Having said that the skills developed trading currency pairs here is completely transferable to other arenas.
  • #64,077
  • May 18, 2010 7:10am May 18, 2010 7:10am
Hello six gun,
u can post index charts, stocks etc here if u want to.
btw, there's a specific forum here for stocks, commodities etc.
others here.
  • #64,078
  • May 18, 2010 7:11am May 18, 2010 7:11am
Quoting Atc
I know we're focused on currencies but did anyone mention Daily Pins on the Dow ES and YM ? for a long
see post #64004
meine augen sind die sterne
  • #64,079
  • May 18, 2010 7:23am May 18, 2010 7:23am
I don't know of any threads for indexes
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  • #64,080
  • May 18, 2010 7:25am May 18, 2010 7:25am
Thanks for that supremeChaos.

Ultimately I would like to be able to trade the IBEX but at the moment I know for sure it would chew me up and spit me out with a margin call within a morning.

When it is all fired up it moves 100's of points in minutes.
So maybe it can never be tamed and will always be a maneater.
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