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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

  • #67,901
  • Jul 2, 2010 10:35am Jul 2, 2010 10:35am
Quoting mbqb11
haha I am glad you say this even when I got home at 5am , I slept till 11am today and it felt good(even if my head doesn't)

6 hours of sleep really is too little, you need to sleep more

-V
A person is only limited by the thoughts he chooses.Þeir fá byr sem bíð
  • #67,902
  • Jul 2, 2010 10:36am Jul 2, 2010 10:36am
Quoting mbqb11
haha I am glad you say this even when I got home at 5am , I slept till 11am today and it felt good(even if my head doesn't)

hahaha And that's how it should be! An awkward morning sure beats a boring night my man!
I dream, therefore I become.
  • #67,903
  • Jul 2, 2010 10:41am Jul 2, 2010 10:41am
and btw, the cure for a hangover is grabbing a beer
A person is only limited by the thoughts he chooses.Þeir fá byr sem bíð
  • #67,904
  • Jul 2, 2010 10:48am Jul 2, 2010 10:48am
Quoting mike w
hahaha And that's how it should be! An awkward morning sure beats a boring night my man!
hahah, my liver hates me a little bit more every weekend
  • #67,905
  • Jul 2, 2010 11:40am Jul 2, 2010 11:40am
Quoting (Yaniv)
Any one watched that 12H PB on the USDJPY? (on the 88.0 level big PPZ on weekly).
well spotted yaniv
  • #67,906
  • Jul 2, 2010 12:53pm Jul 2, 2010 12:53pm
Quoting mbqb11
well spotted yaniv
I assume the target is around 87.0 (near the little swing low)

don't know why it's hard for price to get there, there is no high/low in the way....

Will leave it open.
  • #67,907
  • Jul 2, 2010 12:56pm Jul 2, 2010 12:56pm
Quoting (Yaniv)
I assume the target is around 87.0 (near the little swing low)

don't know why it's hard for price to get there, there is no high/low in the way....

Will leave it open.
Oh I thought you took the PB long and took profit at that level you are looking to go short. That is some trafficked up PB there
  • #67,908
  • Jul 2, 2010 1:05pm Jul 2, 2010 1:05pm
Quoting mbqb11
Oh I thought you took the PB long and took profit at that level you are looking to go short. That is some trafficked up PB there
lol, Yes short.

With regards to traffic, there is no high/low around it besides that single low.

So..... what do you think can stop it besides a high or a low?
  • #67,909
  • Jul 2, 2010 1:15pm Jul 2, 2010 1:15pm
Quoting (Yaniv)
lol, Yes short.

With regards to traffic, there is no high/low around it besides that single low.

So..... what do you think can stop it besides a high or a low?
maybe nothing, I would just say by the nature of that location we don't want pins that much in traffic. At least personally I would need more to go off in this type of case. Could very well retest that low though. Depends on how much strength you are going to put on that one bar.

Mike
  • #67,910
  • Jul 2, 2010 1:26pm Jul 2, 2010 1:26pm
Quoting mbqb11
maybe nothing, I would just say by the nature of that location we don't want pins that much in traffic. At least personally I would need more to go off in this type of case. Could very well retest that low though. Depends on how much strength you are going to put on that one bar.

Mike
Correct me if i'm wrong, it's a continuation trade, right?
  • #67,911
  • Jul 2, 2010 1:29pm Jul 2, 2010 1:29pm
Quoting (Yaniv)
Correct me if i'm wrong, it's a continuation trade, right?
yes it would definitely be in that camp

Mike
  • #67,912
  • Jul 2, 2010 3:37pm Jul 2, 2010 3:37pm
weekly EURGBP pb strong buy?
  • #67,913
  • Jul 2, 2010 3:44pm Jul 2, 2010 3:44pm
how do u call this bar on today USDJPY H1 14:00 (GMT+2)? and how to interpret it
  • #67,914
  • Jul 2, 2010 8:47pm Jul 2, 2010 8:47pm
Hello mistersimple,
post charts so we can see your point of view.
  • #67,915
  • Jul 2, 2010 10:22pm Jul 2, 2010 10:22pm
Pros:

 

  1. At Swing low
  2. Broke weekly PPZ 8200 (BRN)
  3. Pin size is ok at least in relative to preceeding bearish bar
  4. From the bigger picture- it does not need fight against big downtrend.

Cons:

  1. Did not like the close of the pin.. not at the end of the bar. top wick is not providing good confidence
  2. Little traffic (3 bars)
  3. 05/30 bearish candle is much bigger than this pin bar..

Entry -
Conventional - After the break of pin (High + 10 Pips)
TP: FTA 1 - first blue
FTA2 - 2nd blue - also monthly PPZ
SL: Conventional = end of the bar

But can the SL be just underneath the Weekly PPZ (8200) ??

RED Lines = Monthly PPZ
Pink Lines = Weekly PPZ
Green Lines= Daily PPZ

Comments ?

Attached Image(s) (click to enlarge)
Click to Enlarge Name: weekly-EURGBP-07-02-2010.gif Size: 34 KB
Click to Enlarge Name: weekly-EURGBP-07-02-2010 Detailed.gif Size: 45 KB
  • #67,916
  • Jul 2, 2010 10:28pm Jul 2, 2010 10:28pm
anyone hungry?
Please join me in eating this ...
Have a great weekend, all!
http://www.forexfactory.com/attachme...3&d=1271442666
  • #67,917
  • Jul 2, 2010 11:01pm Jul 2, 2010 11:01pm
Another question for the Forum. It has been suggested to follow the Daily time frame as it gives better signals and is slower by nature allowing a newbie (Myself) better/more time to study the chart etc. Supposing I was following about a dozen charts how many trading opportunity's on average would you get in a month? Also, if some of the senior members with experience could further break that down to A+, B trades etc. Sorry if this has been asked before. I do see alot of 4hrly chart examples given. Is this the standard time frame for most once you get good enough? Cheers
  • #67,918
  • Edited Jul 3, 2010 12:11am Jul 2, 2010 11:05pm | Edited Jul 3, 2010 12:11am
Quoting cprao
Pros...
.....
Hello cprao...
decent sized pin, but not spectacular or eye-catching, IMHO.

my concern is the downtrend.
also, i wont be surprised to see price go re-visit the pin's mid & bottom 1/3 (0.8150 - 0.8200 area or lower)*. [having said this, u can decide to enter on the pin's retracement, rather than on the pin's immediate break]
the pin's high is right before the 0.8300 RN. so yes, it would be prudent to enter like u said so or wait for 0.8200 to act as support (& wait for PA) before entering.
your blue line is indeed the FTA (0.8380ish). price needs to break that to induce possible further momentum upwards.

Quote
But can the SL be just underneath the Weekly PPZ (8200) ??
yes, that's possible, but u should be aware of the possibility of price gong back down again*. that is your risk.



i think this also answers mistersimple's prior post about eurgbp.
  • #67,919
  • Jul 2, 2010 11:31pm Jul 2, 2010 11:31pm
Quoting Sjr
Another question for the Forum. It has been suggested to follow the Daily time frame as it gives better signals and is slower by nature allowing a newbie (Myself) better/more time to study the chart etc. Supposing I was following about a dozen charts how many trading opportunity's on average would you get in a month? Also, if some of the senior members with experience could further break that down to A+, B trades etc. Sorry if this has been asked before. I do see alot of 4hrly chart examples given. Is this the standard time frame for...
Hello Sjr,
yes, these are typical questions..
do not concern yourself of these things.
imho, these lead to bad trading &/or developing bad psychology/bad habits.

every trader is unique.
every trader has a different personality, risk profile, experience, goals, etc.*
therefore, every trader will trade differently, view things differently & hence get different results.
An A+ setup may not be necessarily A+ to another trader. An A+ or B- setup may be a C setup or even a 'no trade' for another.
each trader trades different timeframes too. there is no 'standard timeframe' (well, Daily & weekly timeframe for those starting out)

apart from that uniqueness, every month will be different too. depending on your trading personality as a whole, u may get few or no trade or more than usual trades per month.
[for example... if u target 100 pips a month &/or 5 trades a month, & u fall short of this/these, u'll likely get frustrated or beat yourself up..... this leads to 'bad psychology' in the long run, imho]
Do your best in every trade & take what the market gives u.

(concern yourself more about overall performance in terms of actions [that is, trade management] than pips)


part of your goal as a trader is take what u learn & mold everything to fit YOU (& your trading personality as a whole*).
Hope that helps
  • #67,920
  • Jul 2, 2010 11:45pm Jul 2, 2010 11:45pm
Thanks Supreme. I'm still learning which Pb's are best to take etc. One thing spoken of often (In forex in general) is to trade with the trend. Some Pb's are with the trend others trade directly into the prevailing trend. Would it be reasonable to think initially just trade Pin-bars that are going with the trend at the end of a pullback, vs. pb's at the very top/bottom of a recent move?
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