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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

  • #72,701
  • Aug 24, 2010 1:57pm Aug 24, 2010 1:57pm
Quoting jarroo
AaaHhhhh . . . that's better . . .
New computer or...?
  • #72,702
  • Aug 24, 2010 2:03pm Aug 24, 2010 2:03pm
Quoting fxprocessor
I never even look at these kind of crosses. I've never seen James or Mike trade em too to be honest. Food for thought.
I actually trade a lot of weird ones. Mostly longer term daily/weekly depending on the pair. Spreads aren't usually as bad as first glance as the moves are comparable. For the most part is, some are just too high for me.

Best
Mike
  • #72,703
  • Aug 24, 2010 2:03pm Aug 24, 2010 2:03pm
Quoting jarroo
AaaHhhhh . . . that's better . . .
welcome back buddy
  • #72,704
  • Aug 24, 2010 2:06pm Aug 24, 2010 2:06pm
Quoting fxprocessor
I never even look at these kind of crosses. I've never seen James or Mike trade em too to be honest. Food for thought.
I think at least mike trades em. If im not wrong he once mentioned that he watch 50 pairs or so on daily and weekly timeframe. We dont have 50 majors so there gotta be some exotic in that list
  • #72,705
  • Aug 24, 2010 2:12pm Aug 24, 2010 2:12pm
Quoting ekling
I think at least mike trades em. If im not wrong he once mentioned that he watch 50 pairs or so on daily and weekly timeframe. We dont have 50 majors so there gotta be some exotic in that list
Also another note the more exotic pairs have much more variable spreads so just be careful when placing your entries or watching this. It is something I could care less about with the normal pairs but am very cautious with pairs that spreads widen during the off times and close down during the active sessions

Mike
  • #72,706
  • Aug 24, 2010 2:15pm Aug 24, 2010 2:15pm
Quoting Ace284
Thanks Jim, I appreciate your insights. You definitely right, the bullish pressure is clearly there and has been there since the open for the week. As for the area acting as support, I'm going to wait for a while and analyze PA. I'm waiting for a retest. Will only take the trade is there is a break of bullish PA at the support.

I enjoyed that video! Good explanation man.

It hasn't confirmed anything yet. I'm still waiting for the low of the 4H bar to break like I said on the chart.

Your analysis was dead on the Aud/Cad we just needed a PA trigger to complete the picture. To bad it happened over the weekend.


Here's what the bearish PA looked like over the weekend on the Hourly, a big Pin Bar looking BEOB . we just didn't see it . . .just kidding too bad it didn't happen on Monday.
Attached Image(s) (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #72,707
  • Aug 24, 2010 2:16pm Aug 24, 2010 2:16pm
Quoting ekling
I think at least mike trades em. If im not wrong he once mentioned that he watch 50 pairs or so on daily and weekly timeframe. We dont have 50 majors so there gotta be some exotic in that list
I'm currently creating a way to restrict the trades I can have open, and how i can chose one pair over the other if they both display a similar setup of PA.

There are times I see a BUOB across 3 pairs, and think I should only take one, or possibly take half risk across 2 of the pairs.

For now, I PRIMARILY trade just 5 pairs on 4hr, and 17 pairs on daily (17 includes the 5 pairs I trade 4hr on)

I do trade all USD pairs on 4hr, but I am tending to focus more and more on my "fab 5" (EURUSD, GBPUSD, AUDUSD, EURJPY, GBPJPY) for the smaller TF trades.
Many choose unhappiness over uncertainty.
  • #72,708
  • Aug 24, 2010 2:38pm Aug 24, 2010 2:38pm
I missed one of my favorites today a touch short ---- 61.8 + BRN
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  • #72,709
  • Aug 24, 2010 2:47pm Aug 24, 2010 2:47pm
Quoting ekling
I think at least mike trades em. If im not wrong he once mentioned that he watch 50 pairs or so on daily and weekly timeframe. We dont have 50 majors so there gotta be some exotic in that list
I stand corrected
  • #72,710
  • Aug 24, 2010 2:48pm Aug 24, 2010 2:48pm
Quoting Adilius07
It's 4:30 am here so should go to sleep. Just wanted to say thanks to Mike and Ghous on there replies! Will be more careful next time LOCATION MATTERS I WAS DUMB...

And as I promised to Jdl, this NZDJPY I got stopped out In my system I move my SL to "behind right-eye" backtesting it seems as it can really help me out in long term. So was a stop.

Should've listened to Jarroo on this. All 3 (AUDUSD, NZDUSD, NZDJPY) had way too much traffic and all were weak.... so size, location, traffic ALL MATTERS and this daytrading thing in my head...

Little bars in traffic at good location is a tough way to go. Sure, you'll see some of them go to the moon because of their location, but more often then not they end up like these.


Notice they did hit there target, previous bar high and/or low, except for the Nzd/Jpy. A 8-10 pips buffer would have kept you out of that one. I thought the Aud/usd would have at least hit the .9000, but the traffic was to much.

Your doing great Adilius . . .it all part of the journey that we all go through.

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #72,711
  • Aug 24, 2010 3:18pm Aug 24, 2010 3:18pm
Quoting cprao
Jarroo, Sorry. didn't get what you are trying to say here. Are you saying that the chart is little bit off since the close of the BEOB was not strong. There was a big wic at the bottom.

No . . I just noticed that your feed appears to be missing some data.
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Indicators show the past. Price Action "Indicates" the future.
  • #72,712
  • Aug 24, 2010 3:21pm Aug 24, 2010 3:21pm
Quoting ghous

Hang in there Geo, scrap this one for the lessons and move on
sincerely thanks
Don't give up
  • #72,713
  • Aug 24, 2010 3:33pm Aug 24, 2010 3:33pm
This one is working out nicely . .PA Rules.
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Indicators show the past. Price Action "Indicates" the future.
  • #72,714
  • Aug 24, 2010 3:48pm Aug 24, 2010 3:48pm
Quoting Pinbar
No, it does not engulf....Engulf means to totally cover the previous bar.
It is a 8 Hour Pb, Pb. I would have like to have see this up at the .9000, less traffic up there and a better confluenced level. And of course a bit bigger in size . . as you said.
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #72,715
  • Aug 24, 2010 3:51pm Aug 24, 2010 3:51pm
Quoting Forex Girl
Hello friends,

After a journey on several threads in the forex factory, I found on the PA a strong and clear system . I have studied for six months. I'm in forex for 2 years. Regarding many of you, I'm a baby .... I hope to learn with you, guys.
I´m sorry about the english, I´m brazilian.

Thank you

Welcome Forex Girl. . . . you english is better than (or is it "then"?) mine.


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #72,716
  • Aug 24, 2010 4:34pm Aug 24, 2010 4:34pm
Quoting jarroo
Welcome Forex Girl. . . . you english is better than (or is it "then"?) mine.


Jim
Thank you Jim, I do my best!!!
If I Change, the whole World changes!
  • #72,717
  • Aug 24, 2010 5:58pm Aug 24, 2010 5:58pm
What do u think ? Didn't we just see this?
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  • #72,718
  • Aug 24, 2010 6:03pm Aug 24, 2010 6:03pm
Quoting Atc
What do u think ? Didn't we just see this?
your chart nails it ATC, especially the higher yellow line
  • #72,719
  • Aug 24, 2010 6:09pm Aug 24, 2010 6:09pm
Quoting mbqb11
your chart nails it ATC, especially the higher yellow line
I am truly indebted to you mike, j16 and the seniors (you know who you are)
  • #72,720
  • Aug 24, 2010 6:30pm Aug 24, 2010 6:30pm
Quoting Atc
What do u think ? Didn't we just see this?
Been looking at this as well. Descending triangle with confluence at the red arrow. Not the best short setup but I think i'll take it with slightly lower risk after going to a lower timeframe and waiting for a break. Descending triangles have been working well for me lately. Post here.
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