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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

  • #73,261
  • Aug 30, 2010 3:15am Aug 30, 2010 3:15am
Quoting packhorse
I am from Worcester Pinbar. Went to Macclesfield once to see my football team play yours. Did I see you are in Japan now? How did you end up that far away from the UK?

No it is not a demo trade..............my own hard earned money.

All the best

Glynn

Oh, I escaped from the UK many years ago.
Couldn't understand the Macho mentality & conservatism of my fellow Brits.

Oh, I thought you were demoing this?

Does Mike know, it was a live trade?

I know this is a weekly PB and may work out but I don't like how the daily is working out. The TL, 50 fibo and RN confluence with hidden Bearish Div.

I really hope it works out for you but just to be on the safe side, I would mention this is a live trade to Mike, if you haven't already.
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  • #73,262
  • Edited 3:28am Aug 30, 2010 3:16am | Edited 3:28am
Quoting Jey
Seems like BEOB to me. Hope I am not wrong....?

I think you are looking at the current bar, the bar Pinbar and I was discussing is a BUOVB, but not the best one for several reasons. I attached the chart again and pointed out the right bar, I can see how it confused you as the current bar is looking as it may close with a lower low making it a BEOVB, sorry for the misunderstanding Jey. Keep in mind I am not saying the BEOVB (if indeed it turns out to be one) is a good setup.
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Thank you j16!
  • #73,263
  • Aug 30, 2010 3:46am Aug 30, 2010 3:46am
Quoting ekling
So it just need te be engulfed by the prior bar and not all 4 of them?
Yes, exactly.
  • #73,264
  • Aug 30, 2010 3:47am Aug 30, 2010 3:47am
I have a question about lower timframe trading.. Do you guys use time constraints with your trades? Let's say you entered a trade and after 45min your hanging around b/e. Do you ride the trade out or do you exit? I like my trades to work quickly. I am thinking of setting a time constraint of let's say after 20min of the trade not starting to go my way just to exit. I am thinking about implementing this on 1hour timeframes. What do you guys think about this and do you feel the same way? What I have noticed is that good trades work the majority of the time right from the onset.
Thank you j16!
  • #73,265
  • Aug 30, 2010 3:54am Aug 30, 2010 3:54am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting anderou
I have a question about lower timframe trading.. Do you guys use time constraints with your trades? Let's say you entered a trade and after 45min your hanging around b/e. Do you ride the trade out or do you exit? I like my trades to work quickly. I am thinking of setting a time constraint of let's say after 20min of the trade not starting to go my way just to exit. I am thinking about implementing this on 1hour timeframes. What do you guys think about this and do you feel the same way? What I have noticed is that good trades work the majority of...
Sounds wonderful!!

Just test it out couple of months and let us know how you fared. I just love the 5m too. Really complements my impatient temperament.
I have seen the enemy, and it is me.
  • #73,266
  • Aug 30, 2010 3:58am Aug 30, 2010 3:58am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Quoting anderou
I think you are looking at the current bar, the bar Pinbar and I was discussing is a BUOVB, but not the best one for several reasons. I attached the chart again and pointed out the right bar, I can see how it confused you as the current bar is looking as it may close with a lower low making it a BEOVB, sorry for the misunderstanding Jey. Keep in mind I am not saying the BEOVB (if indeed it turns out to be one) is a good setup.
1000 apologies for my misunderstanding....now i am getting clearer.
I have seen the enemy, and it is me.
  • #73,267
  • Aug 30, 2010 4:00am Aug 30, 2010 4:00am
How do you guys prepare for a new trading week? Do you plot potential S/R areas, trendlines, etc. on your charts and then watch for PA around these areas or you just prey for a PA and then decide whether or not to trade it??
  • #73,268
  • Aug 30, 2010 4:02am Aug 30, 2010 4:02am
Quoting supremeChaos
have u tried MT4's default alerts?
check MT4's Help (press F1). using the Search tool, type "alert". read up on the articles..
yeah, they won't help that much, I think I found one here:
http://www.forexfactory.com/showpost...&postcount=253
have not tried it yet though, attached to my charts and waiting for the setup
  • #73,269
  • Aug 30, 2010 4:05am Aug 30, 2010 4:05am
Quoting Pinbar
Oh, I escaped from the UK many years ago.
Couldn't understand the Macho mentality & conservatism of my fellow Brits.
I honestly thought you were Japanese national
  • #73,270
  • Aug 30, 2010 4:07am Aug 30, 2010 4:07am
Quoting mihazupan1
How do you guys prepare for a new trading week? Do you plot potential S/R areas, trendlines, etc. on your charts and then watch for PA around these areas?
The ppz levels holds for a long time usually, so you do not allways have to draw new ones, just check for potential new levels and if the old levels are still valid. Lower timeframes can be different so check for new ppz levels more often. Then check pa's behavior and confluence around these levels. Regardless what what timeframe you trade this will probably be your modis operandi.. A good idea is to also keep an economic calender handy and know beforehand when big news announcements will be happening
Thank you j16!
  • #73,271
  • Aug 30, 2010 4:10am Aug 30, 2010 4:10am
Quoting Adilius07
I honestly thought you were Japanese national


No, not at all. My spelling is that bad eh? LoL

Although, I have lived and worked here a very long time, I am sort of nation-less, right now.

May be off to China next year for the long haul.

That is why, I am trying to get all this under my belt and hopefully, I will be able to trade and make a small living over there, where $500 a month goes a long way. If I take my wife out to a reasonable restaurant here in Japan, that will probably be close to the bill for the night.

Japan has had its economic heyday.
  • #73,272
  • Aug 30, 2010 4:14am Aug 30, 2010 4:14am
Thank you Mike, ghous, Adilius, ekling for your kind words.
I don't think my trading is going especially well. I mean, I think I'm doing OK, but with losing months and those full losses on losing trades(3%) I still have some way to go. Maybe I'll visit more often here again to polish my strategy and learn some more from experienced guys...

Thanks again.

Cheers,
Mikey
  • #73,273
  • Aug 30, 2010 4:14am Aug 30, 2010 4:14am
Quoting Pinbar
No, not at all. My spelling is that bad eh? LoL

Although, I have lived and worked here a very long time, I am sort of nation-less, right now.

May be off to China next year for the long haul.

That is why, I am trying to get all this under my belt and hopefully, I will be able to trade and make a small living over there, where $500 a month goes a long way.
I was thinking you were just some smart japanese guy who speaks such a perfect english Don't know why you just talked about Japan and it just seemed so...

there are so many nationals on this thread so it is no surprise to see anyone form anywhere
  • #73,274
  • Aug 30, 2010 4:15am Aug 30, 2010 4:15am
Quoting mihazupan1
How do you guys prepare for a new trading week? Do you plot potential S/R areas, trendlines, etc. on your charts and then watch for PA around these areas or you just prey for a PA and then decide whether or not to trade it??

I used to plot all the Monthly & weekly PZ on Saturday but, I am starting to think this is not so good. I am experimenting with finding PA, then plotting the PPZ, FTA, SL and target areas after the fact.

Look at jarroo and mike's charts, I think they may not have all these lines all over the place.
  • #73,275
  • Aug 30, 2010 4:16am Aug 30, 2010 4:16am
Quoting ekling
That is truly amazin, tell my. Did you play the daily and weekly timeframe only or did you scale down to 4 hour to?
I only trade on daily timeframe. I'm watching about 20 forex pairs + gold and silver which are available on Alpari demo account.

Cheers,
Mikey
  • #73,276
  • Aug 30, 2010 4:21am Aug 30, 2010 4:21am
Quoting Pinbar
I used to plot all the Monthly & weekly PZ on Saturday but, I am starting to think this is not so good. I am experimenting with finding PA, then plotting the PPZ, FTA, SL and target areas after the fact.

Look at jarroo and mike's charts, I think they may not have all these lines all over the place.
Yeah that's what I've been doing so far as well. But I think this might be deceiving if you're not disciplined enough. You can quickly see what you want to see or vice versa.
  • #73,277
  • Aug 30, 2010 4:24am Aug 30, 2010 4:24am
Quoting Adilius07
I was thinking you were just some smart japanese guy who speaks such a perfect english Don't know why you just talked about Japan and it just seemed so...

there are so many nationals on this thread so it is no surprise to see anyone form anywhere

Yeah, I know what you mean.

A nice cosmopolitan thread indeed.
  • #73,278
  • Aug 30, 2010 4:25am Aug 30, 2010 4:25am
Quoting mihazupan1
Yeah that's what I've been doing so far as well. But I think this might be deceiving if you're not disciplined enough. You can quickly see what you want to see or vice versa.

yes, to prevent that, it may be better just to plot the PPZ and wait.
  • #73,279
  • Aug 30, 2010 4:27am Aug 30, 2010 4:27am
Quoting Ace284
LOL, nice

Thanks Ghous for the vouch!! Getting a vouch from you an Jarroo on the same day, thanks guys its an honor.





Hey Jim,

I made a video on the weekend to re cap how I traded the AUDCAD last week. I'm debating as to whether I should post it here because it doesn't have a lot to do with traditional James16 Setups. I does have a lot to do with PPZ, fine tuning an entry and risk:reward.

I know some senior members here don't pay attention to risk:reward ratios which is fine in the context of...
hi ace,

i am following audcad chart. it bumped into prev resistence and going down. we need a bearish PA to enter short. todays daily candle is looking very bearish. do you wait for the bar to close before entry ? if we wait then we may have a very big bearish candle and might have run put of gas. how do you handle the entry ? thanks a lot
  • #73,280
  • Aug 30, 2010 4:49am Aug 30, 2010 4:49am
Quoting packhorse
Quite a lot of weekly PB set ups for next week Have a look over the weekend, quite a lot of choice.




For my usual daily trade, I am looking at EUR/CAD Short PB

  1. Off BRN
  2. With the trend
  3. 4Hr bar finished today going in the right direction.
  4. FTA 1.3346 - in and out for quick profit.

Great to have your views.

This one did the biz for me today. Fairly easy pips.

Glynn
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"Fail to prepare, prepare to fail."
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