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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

  • #73,541
  • Sep 1, 2010 8:54am Sep 1, 2010 8:54am
Quoting Ace284
Yeah, I linked it to my blog. I'm pretty sure I've contributed a grand total of +3 viewers to this thread...including myself
hahah when I get a moment Ace I will check your videos out, I checked out one and it was great
  • #73,542
  • Sep 1, 2010 8:55am Sep 1, 2010 8:55am
Quoting aserbfx
well , i am not a senior. but for me, the nose doesn't protrude much. she is just 30 pips below the low of the previous candle. something which i will play with tight stops and small positions.
very much agreed aser, this are probably more profitable to play a failure break of the low as a continuation then as a reversal coming off such a strong move
  • #73,543
  • Sep 1, 2010 9:00am Sep 1, 2010 9:00am
at high and BRN 1250

but lot of traffic to left, swing is not really high --- in ranging market

how to handle such bars ?
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  • #73,544
  • Sep 1, 2010 9:10am Sep 1, 2010 9:10am
see the effect of pin off BRN. plus space
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  • #73,545
  • Sep 1, 2010 9:13am Sep 1, 2010 9:13am
Quoting roundrock
at high and BRN 1250

but lot of traffic to left, swing is not really high --- in ranging market

how to handle such bars ?
Hey RR

I would want to see it close below that entire range and then I would consider a play at it, Strong up trend on the 4hr though so I need a very strong close to the downside to be convinced.

Best
Mike
  • #73,546
  • Sep 1, 2010 9:15am Sep 1, 2010 9:15am
So far I am having a very good week. BUT, if I look back and check on one or two of the trades that I didn't follow my rules exactly it makes me mad, I can easily make much more than what I am making now if I would just learn to control litlle things.

One thing that I have realised is: when I open a chart spot a trade check everything and enter immediatly I almost always end up losing that trade. Then when I check to see why I almost always find something ,(that given the proper time to plan the trade)- would have made me not take it, like trading into a BRN.

From now on I will only enter trades that I feel I have spent enough time on planning. If I lose a trade I planned properly I do not mind at all, following the plan counts for much more.

After all it is much better to be out of a trade you wanted to be in than in a trade you don't want to be in..
Thank you j16!
  • #73,547
  • Sep 1, 2010 9:26am Sep 1, 2010 9:26am
HEY SPOOKIE---Hope this helps


I JUST WISH I COULD FIGURE OUT HOW TO SET UP THIS ALARM TO EMAIL FEATURE [/quote]

check enable

find out the smtp address of your provider ----and make sure you add the Colin and number after it like it shows on MT4 platform ----This may be your mistake

fill in the rest of the lines

include your pass word

my email provider often has a delay of several minutes from when alerts are hit
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  • #73,548
  • Sep 1, 2010 9:26am Sep 1, 2010 9:26am
Quote
After all it is much better to be out of a trade you wanted to be in than in a trade you don't want to be in..

Very very wise words!
Anything can happen.
  • #73,549
  • Sep 1, 2010 9:28am Sep 1, 2010 9:28am
I took this one, but took a loss (stop under pin low). Strong close over 75, size beated many of the previous bearish bars etc. imo good trade excluding i didn´t notice that ppz which would have been good barrier for stop, but yep it happens..
Happy trading everyone!
Nuc
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  • #73,550
  • Sep 1, 2010 9:36am Sep 1, 2010 9:36am
nuclear62 could you please share that spread and tick value indicators?
  • #73,551
  • Sep 1, 2010 9:56am Sep 1, 2010 9:56am
I have a huge 4 hr engulfing on USDJPY ...I think this me take out the daily on the close........near the low

looks good to me guys
  • #73,552
  • Sep 1, 2010 9:59am Sep 1, 2010 9:59am
Quoting anderou
...
One thing that I have realised is: when I open a chart spot a trade check everything and enter immediatly I almost always end up losing that trade. ...

From now on I will only enter trades that I feel I have spent enough time on planning. If I lose a trade I planned properly I do not mind at all, following the plan counts for much more.

After all it is much better to be out of a trade you wanted to be in than in a trade you don't want to be in..
awesome post Sir
  • #73,553
  • Sep 1, 2010 10:13am Sep 1, 2010 10:13am
Jarroo,
this chart has your name written all over it. Thank you so much for the examples and explanations.

(If you're wondering whether I took the trade, then the answer is no. I'm going over your charts and observing PA as it develops. Pretty soon I'll be ready to take those trades, right now I still have some vision-training to do.)
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If you don't risk, you don't ever have to lose.
  • #73,554
  • Sep 1, 2010 10:29am Sep 1, 2010 10:29am
Stopped out on AT&T

http://cdn.forexfactory.com/attachme...1&d=1283354494
  • #73,555
  • Sep 1, 2010 10:34am Sep 1, 2010 10:34am
where is ghous at
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  • #73,556
  • Sep 1, 2010 10:38am Sep 1, 2010 10:38am
Hello guys!

entered USD CHF buy on live A/c

Reasons

1) H4 pin bar off from BRN 1.0100
2) prior H4 bars were side to side and this pin took all the stops out.

3) See the price is off from weekly trendline and BRN

4) Nice H4 pin in space and also at extreme

5) Price off from Weekly Pivot S2 and Daily Pivot S1

Risk: 1% of A/c

Best Wishes
Winston Dsouza
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Trading is a delicate balance of Strategy , Money management and Psychology
  • #73,557
  • Sep 1, 2010 10:43am Sep 1, 2010 10:43am
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
So long to 100:1 leverage? Looks like the US proposal to require 10:1 leverage was shot down, but they will tighten it to 50:1 or 20:1 depending on currency:

http://www.reuters.com/article/idUSN3121025420100831

Also some truly amazing stats on how huge FX market really is...

"..the FX market, which according to the latest BIS data, has hit $4 trillion in daily notional volume (20% higher than the $3.3 trillion in 2007), nearly quadruple the combined U.S. stock and Treasury trading, which in April averaged about $134 billion a day and $456 billion respectively. This amounts to nearly one quadrillion in total dollar transaction volume per year..."
from
http://www.zerohedge.com/article/4-t...and-treasuries
  • #73,558
  • Sep 1, 2010 10:44am Sep 1, 2010 10:44am
Quoting Adilius07
Stopped out on AT&T

http://cdn.forexfactory.com/attachme...1&d=1283354494
I think the close of the pinbar was not below the earlier S/R line. Maybe that was the problem.
  • #73,559
  • Sep 1, 2010 10:46am Sep 1, 2010 10:46am
Quoting The Lord
I think the close of the pinbar was not below the earlier S/R line. Maybe that was the problem.
I was looking at it from all different angles, and even now I still like the setup..
  • #73,560
  • Sep 1, 2010 10:48am Sep 1, 2010 10:48am
Quoting Adilius07
I was looking at it from all different angles, and even now I still like the setup..
Personally from my perspective this looks like a small reaction based on that last high, but not a true strong selling reaction. A bigger bar, or a high running up higher, or a stronger close(causing bigger bar) would show true intentions up at an area like this. So good area to watch, I just think a weak bar.

Again just in my eyes though

Mike
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