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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

  • #65,721
  • Jun 8, 2010 4:00am Jun 8, 2010 4:00am
Quoting jarroo
I saw that Gold chart before the NFP, nasir. Wow. . . . BE! . .
Yep it came back once more and took me out.
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  • #65,722
  • Jun 8, 2010 4:03am Jun 8, 2010 4:03am
Quoting elizo
Ok, this is the part I think it's key: setup was there, we pulled the trigger. Now, trade management. Hopefully the senior members will help here.

As you can see in the attached chart, price tried to go south but was supported around 4460, then came up precisely to my first salmon area and apparently was rejected from there. My point is: we have let price to show its face. I would have rather preferred a move down straight forward, but since it came up and it's making a new try to lows... what would you do here?

My opinion is to treat it aggressively,...

Looking good eli. There she goes.
Indicators show the past. Price Action "Indicates" the future.
  • #65,723
  • Jun 8, 2010 4:06am Jun 8, 2010 4:06am
Quoting nasir.khan
Yep it came back once more and took me out.
.

Oh Man . . .that was like Rac-man good. Free trading would have worked out nicely, but that's just me.
Indicators show the past. Price Action "Indicates" the future.
  • #65,724
  • Jun 8, 2010 4:15am Jun 8, 2010 4:15am
Quoting jarroo
Its not at bad setup eli. But its not the best either. I would manage it, as you said, aggressively.

I like your targets, protect them. Meaning protect yourself from a loss once they are hit.
Thanks Jarroo. Price developed wonderfully! So TP at 4415 here, left only 1/3 of position now to reach the second one. SL to BE for the rest, will trail it accordingly.

Amazing... for a guy like me, lost in the 5m charts for months, this is purely amazing.

Thanks everybody around.
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  • #65,725
  • Jun 8, 2010 4:15am Jun 8, 2010 4:15am
I wonder if anyone else took this one..

GBP getting killed again
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  • #65,726
  • Jun 8, 2010 4:22am Jun 8, 2010 4:22am
Quoting elizo
Thanks Jarroo. Price developed wonderfully! So TP at 4415 here, left only 1/3 of position now to reach the second one. SL to BE for the rest, will trail it accordingly.

Amazing... for a guy like me, lost in the 5m charts for months, this is purely amazing.

Thanks everybody around.

Let that 1/3 ride. Forget you even took it. lol We could be seeing the 1.4000. I caught the BEOB off the 1.4500.
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Indicators show the past. Price Action "Indicates" the future.
  • #65,727
  • Jun 8, 2010 4:35am Jun 8, 2010 4:35am
Quoting elizo
Thanks Jarroo. Price developed wonderfully! So TP at 4415 here, left only 1/3 of position now to reach the second one. SL to BE for the rest, will trail it accordingly.

Amazing... for a guy like me, lost in the 5m charts for months, this is purely amazing.

Thanks everybody around.
Welcome and Good start eli.

Btw you picked up your FTA very well.
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  • #65,728
  • Jun 8, 2010 4:59am Jun 8, 2010 4:59am
Quoting nasir.khan
Anyone remember that.
Now lets see what we get here.


Btw this could've been a nice ride up from 1200 to 1250 but it came back and took me out at BE.


P.S: Anyone for Punjabi music.


.
Here we go.

Now see how far this little CT could run.
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  • #65,729
  • Jun 8, 2010 5:11am Jun 8, 2010 5:11am
Quoting elizo
Thanks....
(KA-CHIIIING).
....& Rafael Nadal pumps his fist
  • #65,730
  • Jun 8, 2010 5:57am Jun 8, 2010 5:57am
Quoting jarroo
Let that 1/3 ride. Forget you even took it. lol We could be seeing the 1.4000. I caught the BEOB off the 1.4500.
Sure, I will. Regarding your BEOB, how did u manage to do so since the bar wasn't closed until well below 1.4500?
  • #65,731
  • Jun 8, 2010 5:58am Jun 8, 2010 5:58am
Quoting nasir.khan
Welcome and Good start eli.

Btw you picked up your FTA very well.
.
Thanks, just learning.
  • #65,732
  • Jun 8, 2010 5:59am Jun 8, 2010 5:59am
Quoting supremeChaos
....& Rafael Nadal pumps his fist
  • #65,733
  • Jun 8, 2010 7:40am Jun 8, 2010 7:40am
Quoting nasir.khan
Yep it came back once more and took me out.
.
nasir could you share the reason of your entry? Is it based on that TF coz I can't see PA.
  • #65,734
  • Jun 8, 2010 8:00am Jun 8, 2010 8:00am
Target reached on the GBP/CHF short,

I decided to take full profit (0.3R) at the 1.6600 as there have been some strong reactions to this level in the past.

Of course I hope it blasts through for anyone still in the trade
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  • #65,735
  • Jun 8, 2010 8:08am Jun 8, 2010 8:08am
Jonnyislost,
as has been said recently....
Jonnyisfound.
Keep it up, Sir
  • #65,736
  • Jun 8, 2010 8:13am Jun 8, 2010 8:13am
Quoting supremeChaos
Jonnyislost,
as has been said recently....
Jonnyisfound.
Keep it up, Sir
Thanks SC,
If Jonnyisfound it's all thanks to you seniors,
J16 Rocks
  • #65,737
  • Jun 8, 2010 8:19am Jun 8, 2010 8:19am
Jonny....
make that senior newbie
  • #65,738
  • Jun 8, 2010 8:20am Jun 8, 2010 8:20am
Quoting fxeturn
nasir could you share the reason of your entry? Is it based on that TF coz I can't see PA.
Hey Fxeturn,

Time Frames Does't have to do much in this case, it's about the "location".

It was a touch trade. It's an aggressive way to trade PPZ's with confluence (TL's, FIB's) i.e pulling the trigger as price hits the zone.

without waiting for PA.

Takes some time and practice but first you should master the basics.
.
  • #65,739
  • Jun 8, 2010 8:46am Jun 8, 2010 8:46am
Quoting nasir.khan
Hey Fxeturn,

Time Frames Does't have to do much in this case, it's about the "location".

It was a touch trade. It's an aggressive way to trade PPZ's with confluence (TL's, FIB's) i.e pulling the trigger as price hits the zone.

without waiting for PA.

Takes some time and practice but first you should master the basics.
.
Ok thanks. I've seen the term 'touch trades' around but I don't really know the meaning.

I'll just stick with basics first. Here's a USD/JPY analysis:

BEOB on daily, consolidation on weekly, bearish on monthly. Confluence with 150 EMA.
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A closer look at H4 reveals a DBHLC, then a BEOB with confluence on both EMAs and a Fib. White lines are target areas.
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  • #65,740
  • Jun 8, 2010 9:01am Jun 8, 2010 9:01am
Quoting elizo
Thanks Jarroo. Price developed wonderfully! So TP at 4415 here, left only 1/3 of position now to reach the second one. SL to BE for the rest, will trail it accordingly.

Amazing... for a guy like me, lost in the 5m charts for months, this is purely amazing.

Thanks everybody around.

As stated, A+ setup.
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