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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

  • #67,781
  • Jun 30, 2010 1:02pm Jun 30, 2010 1:02pm
This info is really useful to me, as am unsure weather to wait it out or get out...
I got in quite early, bounce of big round, PA was 4h pin and divergence from my indicator. but am getting out pending a retacement, then maybe re fuel..
ta
revstar


[quote=Bemac;3841354]Nice thing is it's a Monthly & therefore, if it's real, {could be a 3,000 Pip Move} you will have sufficient time for Confirmation on the Weekly down to the Daily.

The mistake was also referred to as, “weapons grade stupidity.”

Following the close of Asian trading sessions, Europe had its own set of problems. Namely: the ECB (European Central Bank) held a bond auction but no buyers showed up. That’s a slight exaggeration, however, they tried to sell 55 billion Euros worth of new bonds to raise money to bail various EU country states, however, they were only able to sell 32 billion Euros worth (that’s just 60% of what they were looking for)… AND THEY WERE FORCED TO PAY THE MAXIMUM ALLOWABLE INTERST RATE ON THE DEBT POSSIBLE. Ouch.
*********
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  • #67,782
  • Jun 30, 2010 1:05pm Jun 30, 2010 1:05pm
Quoting mbqb11
Hey P

There is no one way only to do it but for the most part I think entering and exiting on the same timeframe keeps things simple and straight forward. especially in the beginning. This one didn't close as a pin(close not within previous bar) which shows weakness to the downside for now in my book.

Mike
Thank you Mike, looks I've got to get back to the basics.
"Put your shoulder to the wheel!"
  • #67,783
  • Jun 30, 2010 1:10pm Jun 30, 2010 1:10pm
Or maybe switch it the other way i.e. short into the trend...
i will wait for pa to show the way...

[quote=Revstar;3841484]This info is really useful to me, as am unsure weather to wait it out or get out...
I got in quite early, bounce of big round, PA was 4h pin and divergence from my indicator. but am getting out pending a retacement, then maybe re fuel..
ta
revstar


Quoting Bemac
Nice thing is it's a Monthly & therefore, if it's real, {could be a 3,000 Pip Move} you will have sufficient time for Confirmation on the Weekly down to the Daily.

[font=Calibri]The mistake was...
  • #67,784
  • Jun 30, 2010 4:00pm Jun 30, 2010 4:00pm
Quoting supremeChaos
Rosentrade,

maybe there are better ideas out there.


http://fxtradeinfocenter.oanda.com/m...fxmarkethours/
No worries, thanks for your input, it's appreciated. I don't think I formed the question properly, but as it turns out my question was asked way better and answered overnight.

Feel like a little deer in the headlights of a 50 tonne truck, just keep on going over the basics.
  • #67,785
  • Jun 30, 2010 4:31pm Jun 30, 2010 4:31pm
Quoting PenguinTrade
Hi, I've been demoing a new style of trading on the daily and I have a question. The style I'm trying is to place my daily orders (on j16 bars) on the close, and then not check on them until exactly 24 hour hours later, then make adjustments, wait another 24 hours, etc.

Can you see what the advantages/disadvantages of this system are? Does anyone have tips for such a system?

I'm thinking this will be really nice if it works out, because I won't be able to second guess my trades and constantly be worried about them. On, the other hand I might not...
I think this got lost as it was waiting for mod approval so I'm posting the above again as a question.

I have been demo long in USD/CAD since 1.0200 BEOB,target 1.0640, trying out the 2 day trailing stop. I modified the stops to be below big PPZ. Price went 9 pips past my stop and reversed, so I got back in again. USD/CAD went up again, I moved stop again below PPZ. Price went below my stop by 2 pips and shot right back up . Kind of frustrating, but it was nice to test out the trailing method.
I'm also short gpb/yen off of the weak PB 7 days ago, hoping to turn it into a weekly trend trade. I'm going to trail it with 2 day stop, still only checking on it every 24 hours.
thanks
  • #67,786
  • Jun 30, 2010 4:31pm Jun 30, 2010 4:31pm
IPB
Let's see what happens here...
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Trading: the skill of avoiding trades
  • #67,787
  • Jun 30, 2010 4:55pm Jun 30, 2010 4:55pm
Hi!

How often do you trade TBHs or TBLs? It seems to be that they are so rare. Rarely seeing posts about them.. (Or is it just me)
Just read a little bit old posts, good stuff ahh

Hope the best to you all, have a good week,
Nuc
  • #67,788
  • Jun 30, 2010 5:00pm Jun 30, 2010 5:00pm
Some serious traders here.
  • #67,789
  • Jun 30, 2010 5:03pm Jun 30, 2010 5:03pm
Quoting nuclear62
Hi!

How often do you trade TBHs or TBLs? It seems to be that they are so rare. Rarely seeing posts about them.. (Or is it just me)
Just read a little bit old posts, good stuff ahh

Hope the best to you all, have a good week,
Nuc
Hey Nuc I just made a few posts about them recently

http://www.forexfactory.com/showthre...06#post3836606
http://www.forexfactory.com/showpost...ostcount=67624

Best
Mike
  • #67,790
  • Jun 30, 2010 6:08pm Jun 30, 2010 6:08pm
Quoting mbqb11
Hey Nuc I just made a few posts about them recently

http://www.forexfactory.com/showthre...06#post3836606
http://www.forexfactory.com/showpost...ostcount=67624

Best
Mike
Hi Mike,

How far this Triple Bar Low breakout had gone. Simple & effective.
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The purpose of knowledge is action, not knowledge
  • #67,791
  • Jun 30, 2010 6:18pm Jun 30, 2010 6:18pm
Quoting alifari
Hi Mike,

How far this Triple Bar Low breakout had gone. Simple & effective.
YES YES!! This made me smile big time, cause simple is everything IMO.
  • #67,792
  • Jun 30, 2010 6:19pm Jun 30, 2010 6:19pm
Quoting PenguinTrade
I think this got lost as it was waiting for mod approval so I'm posting the above again as a question.

I have been demo long in USD/CAD since 1.0200 BEOB,target 1.0640, trying out the 2 day trailing stop. I modified the stops to be below big PPZ....
Hey PT

Yeah that mod thing can get annoying I always have a feeling some posts get buried b/c of it since this thread moves quick. 2 bar trailing stop is a great way to trail out in strong trending markets. The choppier the market the bigger chance for those "pop" outs. Takes a bit of getting used to when to best apply it. Sometimes it is nice to trail out till a certain point(say a very strong PPZ) and then set a flat take profit if you do make it there

Mike
  • #67,793
  • Jun 30, 2010 6:25pm Jun 30, 2010 6:25pm
Quoting alifari
Hi Mike,

How far this Triple Bar Low breakout had gone. Simple & effective.
Nice one... just a question on entry point on these multiple high or low trades. Do you place an entry order at the high/low? Or if not, at which point? I know this will change from trader to trader, but what's your preference?
  • #67,794
  • Jun 30, 2010 6:27pm Jun 30, 2010 6:27pm
Quoting Rosentrade
Nice one... just a question on entry point on these multiple high or low trades. Do you place an entry order at the high/low? Or if not, at which point? I know this will change from trader to trader, but what's your preference?
A simple sell stop. i would look for a near round number and put it UNDER it. Here is the 1.0750
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  • #67,795
  • Jun 30, 2010 6:29pm Jun 30, 2010 6:29pm
EUR/GBP H4 short.
DEMO.

PB off 0.8225, is in line with larger TF trend, 50 & 23.6 fibo confluence at swing high, FTA 0.895 area.

Not that big a PB but it looks to be at a good area.

We shall see.
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  • #67,796
  • Jun 30, 2010 6:37pm Jun 30, 2010 6:37pm
Anybody wants to put SL at end of the PB?

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  • #67,797
  • Jun 30, 2010 6:49pm Jun 30, 2010 6:49pm
Quoting mbqb11
A simple sell stop. i would look for a near round number and put it UNDER it. Here is the 1.0750
Ok cool, makes sense - seems like everything revolves around those lovely big round numbers. Thanks Mike, appreciate it.
  • #67,798
  • Jun 30, 2010 7:22pm Jun 30, 2010 7:22pm
Quoting mbqb11
YES YES!! This made me smile big time, cause simple is everything IMO.




are you seriously

??

like this?? --------->
  • #67,799
  • Edited 8:33pm Jun 30, 2010 8:13pm | Edited 8:33pm
http://www.forexfactory.com/showthre...71#post3718771
Quoting aserbfx
nice thing is icce, too.
Hey aserb... I'm glad you like it. It took me a while to assimilate my thoughts when I first noticed it.

Got any others you would care to post?
I'd really like to have a look at them.


btw. That goes for anyone else. Post Your ICCE Charts over Here
You should know by now that J16 Group is about assisting you in understanding this maze.
If you don't Ask your question, you may still not know the answer in the Years to come.

Like Mike {MB} says...
There ARE no silly questions.

I speak for myself but feel the rest of us {& by that I mean The Entire Group} would agree.
If you don't understand something being posted here, then Please ask for an explanation.
Edit* No slight on Mike. He does a yeoman job but I think it might be nice if the Load were spread. End Edit*
The intention is to Assist, not intimidate....

Ramble ramble....

Hey;
Anybody had a look at the EURAUD Daily lately?
OPPORTUNITYISNOWHERE. at least it's close...


BMc
  • #67,800
  • Jun 30, 2010 10:17pm Jun 30, 2010 10:17pm
Quoting Bemac
Hey;
Anybody had a look at the EURAUD Daily lately?
OPPORTUNITYISNOWHERE. at least it's close...


BMc
Eye's on the ball, but I have major qualms abt being long AUD @ this point. The risk environment doesn't seem to be pro long AUD of late. Short AUD positions would be pretty nice @ this point. As would long JPY and CHF.

What say you sir? I know you do watch the "fundies" // sentiment side as well. (I'm a believer! LOL. It's saved my bacon quite a few times already)
One Mind, Any Market
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