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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

  • #77,261
  • Oct 12, 2010 1:28pm Oct 12, 2010 1:28pm
Quote
Originally Posted by Osman
Update on my EUR/CAD trade,

Entry @ 1.4010
Trade is at +50 so im moving my stop loss to BE +1 as we are at TA
Nice i got in later then you -=[

http://content.screencast.com/users/...10-12_1426.png
Time is what keeps everything from happening "right now".
  • #77,262
  • Oct 12, 2010 1:40pm Oct 12, 2010 1:40pm
At least u got in...

I missed that lovely E/G trade, when E/G pips are 1.3 EU pips...

Quoting Dv84
Nice i got in later then you -=[

http://content.screencast.com/users/...10-12_1426.png
Trade Smart
  • #77,263
  • Oct 12, 2010 1:43pm Oct 12, 2010 1:43pm
Quoting Dv84
Nice i got in later then you -=[

http://content.screencast.com/users/...10-12_1426.png
Hey Osman and Dv,

Got a question on this trade. Where did you guys set your FTA? I was looking at this pair and thought that the FTA was where Dv entered the trade (the green-dotted line i suppose) lol
  • #77,264
  • Oct 12, 2010 1:44pm Oct 12, 2010 1:44pm
Quoting Osman
At least u got it...

I missed that lovely E/G trade, when E/G pips are 1.3 EU pips...
Meh dont feel to bad, like the chicken i am i closed at only 50... should have let it run but im very caution on live.

http://content.screencast.com/users/...10-12_1443.png
E/G h4
Time is what keeps everything from happening "right now".
  • #77,265
  • Oct 12, 2010 1:51pm Oct 12, 2010 1:51pm
awaiting breakout these days
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Per aspera ad astra!
  • #77,266
  • Oct 12, 2010 1:55pm Oct 12, 2010 1:55pm
Quoting melvin87
Hey Osman and Dv,

Got a question on this trade. Where did you guys set your FTA? I was looking at this pair and thought that the FTA was where Dv entered the trade (the green-dotted line i suppose) lol

Hi Melvin,

If you check my previous post, i attached an E/CAD chart.

The FTA will be the two brown lines, 1.4050 and 1.4085

Then we have a strong weekly resistance level at 1.4135

Hope that helps.
Trade Smart
  • #77,267
  • Oct 12, 2010 2:36pm Oct 12, 2010 2:36pm
Quoting Osman
Hi Melvin,

If you check my previous post, i attached an E/CAD chart.

The FTA will be the two brown lines, 1.4050 and 1.4085

Then we have a strong weekly resistance level at 1.4135

Hope that helps.
Ahh okok. Would you mind if you explained how you managed your entry on the retracement (looked at lower tf or something?) instead of entry on break?
  • #77,268
  • Oct 12, 2010 3:03pm Oct 12, 2010 3:03pm
Quoting Atc
Sorry all..... not much time at work to talk about location and confluences....but here are 3 charts all 8H with some signal bars...hopefully you can make something out of them in terms of justification for trading...looks like some nice RN's for support

Bill
retraces worked well
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  • #77,269
  • Oct 12, 2010 4:17pm Oct 12, 2010 4:17pm
Here is a perfect example of probably getting lucky while 'analyzing' PA and confluence.

I've seen a few posts recently regarding going long on EUR/CAD.

I've been looking at EUR/CAD from maybe a longer time frame perspective.

While it's been in a fairly strong uptrend since bottoming out in June, I was seeing this as a retracement from it's December highs.

Reaching the 50% Fib level, bumping off the 365 EMA and having been rejected by the BRN of 143, I decided to look for a short.

I took the break of the 2 day pin bar off my OANDA charts @ 1.40446 with an original SL of 10 pips above the pin bar high.

Being a noob/rookie and afraid to lose even on a DEMO account I closed 1/2 my position after banking 26 pips @ 1.40186.

I then moved my SL down to the high prior to the pin bar and let it run until 1.39965 where I closed out another 25% of the original position, for 48 pips.

SL was then moved to BE and I was eventually stopped out on the last 25%.

Overall, I was probably very lucky to come out of those moves in positive territory as it seems I was wrong in the overall move and violated my original idea, which was to plant he trade and trade the plan. Not meddling around with it once i set it.

Live and learn.
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  • #77,270
  • Oct 12, 2010 4:26pm Oct 12, 2010 4:26pm
Quoting melvin87
Ahh okok. Would you mind if you explained how you managed your entry on the retracement (looked at lower tf or something?) instead of entry on break?
Sure,

I just saw a fast down move of about 15 pips 10secs before the 4hr candle close, that made me think they could go for a retest of the 1.40, as price was 1.4016.

Took my entry at around 1.4003 + spread as its a buy
Trade Smart
  • #77,271
  • Oct 12, 2010 5:06pm Oct 12, 2010 5:06pm
  •  jdl
  • | Joined Oct 2006 | Status: going to master this or die trying | 101 Posts
Quoting Osman
EUR/AUD
PB
38.2% of previous up move
1.40 below, although i would preferred the PB breaking below 1.40 and a close above.

Really dont know if i should take it or not... Comments are welcomed.
Osman,
It doesn't wow me. Both wicks are almost equal size, making it more of an indecision bar. I would like lower wick to be longer, stick out more. Distance from pin bar break to FTA is somewhat small.

I prefer the eur/jpy daily setup, though it is not technically a pin bar. Just my 4 cents (inflation).
  • #77,272
  • Oct 12, 2010 5:24pm Oct 12, 2010 5:24pm
Quoting jdl
Osman,
It doesn't wow me. Both wicks are almost equal size, making it more of an indecision bar. I would like lower wick to be longer, stick out more. Distance from pin bar break to FTA is somewhat small.

I prefer the eur/jpy daily setup, though it is not technically a pin bar. Just my 4 cents (inflation).
Yeah ure rite.

LOL inflation!!

Thx for your answer.
Trade Smart
  • #77,273
  • Oct 12, 2010 5:48pm Oct 12, 2010 5:48pm
Quoting xmzhang
You feel it is a strong support ? Just a feel doesn't count here, facts count ! If you look at the higher TF you'll see this PB receives support from a support zone. But, would this be the only reason to buy ? What we're looking for are multiple significant reasons (ie. multiple confluence) to buy (or to sell), remember: THE MORE REASONS TRADERS HAVE TO SELL OR BUY INTO AN AREA, THE MORE LIKELY THEY ARE TO DO IT. So back to your PB, do you see any more reasons besides that support zone, is this support area significant enough, imho NO. Besides the...
Can you be kind enough to illustrate what you're talking about in a chart please? I think I'm following what you're saying (I hope) but I need a visual with pointers to make sure.

Thanks,
Harry
  • #77,274
  • Oct 12, 2010 6:43pm Oct 12, 2010 6:43pm
Quoting forex0908
Hi All,

Need some feedback. I have been reading this thread for around 2 weeks now. Took a trade in demo this week.

1. There was a Pin Bar on GBPUSD.
2. To me it seemed like it was at a swing high.
3. Bouncing off a PPZ level - somewhere around 1.5980.
4. It retraced to a level between 61.8 and 78.6 of the Pin Bar.
5. It also touched the trendline.
6. Had entered at 50% retracement of the Pin Bar formed. Entry: 1.5920; SL: 1.6017 (High of the Pin Bar).

This trade went quite positive. Did anyone trade GU on similar logic - even remotely close...

THis is a very logical trade plan in my eyes. Perfect area for a retrace entry rather then a break as the upside trend was pretty strong but the 1.6 was looking like price wanted to at least bounce here for a bit.

I think this was very well done

Mike
  • #77,275
  • Oct 12, 2010 6:47pm Oct 12, 2010 6:47pm

So I'm up to about page 60 on the public forum and I've decided to join the paid forum in 2 weeks. Just a quick question as I haven't ran into the answer anywhere else. Is there still a section on the paid forum for the Vegas tunnel method?
  • #77,276
  • Oct 12, 2010 9:05pm Oct 12, 2010 9:05pm
Hey what do you guys think about u/c?

http://content.screencast.com/users/...10-12_2204.png
U/C h4
Time is what keeps everything from happening "right now".
  • #77,277
  • Oct 12, 2010 9:12pm Oct 12, 2010 9:12pm
Quoting Trader51
Hello traders, i am learning price action with james16 setups.please guide me. I got stopped out in gbp/usd ,eur/usd.
Yes there was traffic and resistances upwards .but please seniors explain me.was the pivot support zone CORRECT.

Thank you!!!
Not a senoir but looks like not much room to work on either chart. I would have said the purple dash just above your pin on the E/U would have showed some minor Resistance. On a 1H that might be all it needs. Your zone on the other chart looks valid. When in doubt try going up a TF to get a better look for S/R levels. What would have kept me out of both is the traffic.
  • #77,278
  • Oct 12, 2010 10:01pm Oct 12, 2010 10:01pm
Liked the look of this BEOB. Broke thru 1.6000 BRN, looking to use this level as R. Dropped down to 1H for entry just below support level of 1.5950.
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  • #77,279
  • Oct 12, 2010 10:25pm Oct 12, 2010 10:25pm
Hi, just started studying the price action/pin bar.

I believe that the last second red bar is the pin bar, am I right?

I entered @81.04, SL @ 81.82, TP @ 82.42, took half of the unit @ 82.23 for 70 pips profits and moved the SL of the rest @82.15, however, it got stopped out.

Then I have to learn how to use the Fib level to find the confluence?!?!

Anyone can help me to fine tune my analysis, I am so new, please send critics my way so I can learn.

Thank you very much for the thread, Jim.

Leelar


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  • #77,280
  • Oct 12, 2010 10:37pm Oct 12, 2010 10:37pm
Quoting Almfx
Thats right !! PA looking to form on important level
But still got 1hr for the close of this bar (on my feed)

It looks like it can form BEOB or IPB

Some feeds had both Alm . .
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Indicators show the past. Price Action "Indicates" the future.
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