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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

  • #77,781
  • Oct 19, 2010 6:44am Oct 19, 2010 6:44am
Hi I took this trade yesterday
EUR/USD H4, Entry H1, Price trending upwards, the PB at 1.3860 closed below the 1.3900 RN,
So I waited until price closed on H4 above the 1.3900 RN ,PPZ , 61.8%fib. with trendline long ,support at 1.3900

My entry was on the H1 TF ,BUOB Engulfing two previous bars.
Entry 1.3935 Stop 1.3856 TP 1.3988
Moved to B/E at 1.3960 slow momentum.

When price did hit my alarm just before TP ,I moved TP above 1.4000 RN
to 1.4016,seeing if price would move up.
tightened my stop to 1.3970,got taken out in evening.
successful trade.
Critic please
Thank
D
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  • #77,782
  • Oct 19, 2010 6:47am Oct 19, 2010 6:47am
You need to look at the longer time frames check-out the weekly frame for instance, and then the ppz around 1.0100, the boat has sailed.......
Without women, money would have no meaning - Aristotle Onassis
  • #77,783
  • Oct 19, 2010 6:49am Oct 19, 2010 6:49am
Quoting yarin
hi guys, I took this trade few hours ago, was it a bad call?
please explain,tnx.
As I mentioned in my previous post it has been bullish when you shorted
Without women, money would have no meaning - Aristotle Onassis
  • #77,784
  • Oct 19, 2010 7:01am Oct 19, 2010 7:01am
Quoting yarin
hi guys, I took this trade few hours ago, was it a bad call?
please explain,tnx.
I don't know about you, I would not be looking to short the loonie.....
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Without women, money would have no meaning - Aristotle Onassis
  • #77,785
  • Oct 19, 2010 7:22am Oct 19, 2010 7:22am
Without getting into "touch trades" this appears as the break, I say appears as such, the monthly pivot is around 5650, this would have to be the "Alamo"
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Without women, money would have no meaning - Aristotle Onassis
  • #77,786
  • Oct 19, 2010 7:23am Oct 19, 2010 7:23am
Quoting emmy01
I am still learning and learning and learn
please can mike or anyone tell me what happen to this my trade? what I dd
wrong? I took the trade after the formation of the pin I marked with the arrow
please I want to learn from the mistake.

Attachment


Much love

Emmanuel
Hi Emmy,

I'm a newbie commenting, FYI. I think because you traded against the recent dominant bearish trend (take a look at the pound/swiss daily chart), your odds were reduced significantly. (Also the pin bar didn't have much to show for itself in terms of size and nose length compared to the previous bar.)

For me I'm at the point where I just gotta say no to betting against the trend. I'm not experienced enough to do it. And my demo account has suffered as a result.

My last two demo trades logged on my trading journal at moneyblogpost.com are cases in point. Both GBPAUD; one against the trend, one with it; one frustrating loss, one easy (lucky?) win, respectively.

Cheers

D
  • #77,787
  • Oct 19, 2010 7:56am Oct 19, 2010 7:56am
Quoting supremeChaos
some observations:
-the pin was pretty average in size (compared to previous bars)& the close was below the open. but there certainly are pins like this that work well.
-this was a H1 chart. ideally, we start trading H4 & up, as lower TFs are pretty whippy & fast.
-cant see clearly, but the distance to the nearest ppz (15867ish, upper red line) is about 10pips? that gives u very little room...
as much as possible we avoid trading into very near traffic zones like this as it can make price reverse on us, sometimes very quickly, leaving u little room...
Hey SC, the break of the pin was about 15 pips from the PPZ. Yup it did touch the zone and retraced, except that it retraced very slightly earlier than I had expected.

Not too sure if i'm thinking too much, but for cases where you guys mark out the FTA (zone), where in this zone do you take profit? Is it better to be conservative and take profit once price enters the zone slightly? Because on a daily chart this zone could between 15-20pips and price might just go in the other direction right before you intend to take profit at a certain price within the zone. I was thinking about looking at lower tfs to see how price is reacting within the zone and take some profits off if there is some bearish sentiment.
  • #77,788
  • Oct 19, 2010 8:34am Oct 19, 2010 8:34am
Quoting dk2007
Hi mike.
I have been reading a lot of your posts and can tell you...
Hey D

They all gave you some great answers so I will just add I am very particular at the areas I look for PA, For example price hit parity and there was a very strong bullish reaction off this area (no PA to go long for me though) You can see that in the form of a strong " V " formation at this area. Your DBHLC is trading right back into the strong bulls here. Now even if you still go short the following bars gave a small pin then a BUOB, that at the very least you can cut out for a very small loss. Again you will see as you go, the bars are going to be your triggers, you have to ask WHY should I sell at this point. What is the story. I see you even have a trendline you would be selling back into and wonder if this played into your mind about moving your stops down or if you want to trade back into it.

Best
Mike
  • #77,789
  • Oct 19, 2010 8:40am Oct 19, 2010 8:40am
Quoting dabbledave
Hi Emmy,

I'm a newbie commenting, FYI. I think because you traded against the recent dominant bearish trend (take a look at the pound/swiss daily chart), your odds were reduced significantly. (Also the pin bar didn't have much to show for itself in terms of size and nose length compared to the previous bar.)

For me I'm at the point where I just gotta say no to betting against the trend. I'm not experienced enough to do it. And my demo account has suffered as a result.

My last two demo trades logged on my trading journal at moneyblogpost.com...
Thanks very much for your responds. I actually thinking of the pin bar itself the close of the pin does not close within the body of the first bar. I will watch my back next time
Thanks for your kind response

Much luv
Emmauel
If you don't control your emotion it will control you.
  • #77,790
  • Oct 19, 2010 8:44am Oct 19, 2010 8:44am
Quoting the_wizard
Just incase anyone is new to this forum and wondering what this is all about and if it works, I would like to update you on my success with J16.

The reason I choose now is because it's almost 6 months since I first found this forum. At the time I had given up work to try and make a go of this but with hindsight I really didn't know what I was doing and went onto lose my £1,000 stake and another £1,000 from a member of my family, learning to trade.

Everyone here was so supportive to me, especially James, and by working through every single...
Another read through this great thread caught my eye here.
This is what the PF can do i think.
Now i really think i am missing something.
That tip of the iceberg thing is what caught my eye.

Would mike and any of the PF members be willing to really give me an intro of what great bible is present in the PF other then the great things i see in here.
I mean to say this thread alone made me profitable but what is hidden in PF.
I found S/R and Fib and TL and Fib expansion,MA and BRN and other Cool stuff here,now i damn am interested in knowing what i miss.

Yes this is great stuff but i think PF is a gold mine.
Yeah now my very good fellow traders here will say why don't i check the website i did and found great stuff in guest video,but it is the same as in this thread,could anyone be willing for a greater in deapth intro.

And i apologize if my words have in any sense been a trouble for anyone.
Very Warm Regards
Taz
  • #77,791
  • Oct 19, 2010 9:04am Oct 19, 2010 9:04am
Quoting fap103
Bluetrader,

Can you give some more details of this trade? What are you looking at here? PB, long, short etc. Sorry, this may be obvious to most but I am new to this.

Thanks.
Hi fap,

Sorry about that... this was a retrace entry on the Daily BEOB formed Friday. Unfortunately I was taken out at BE, but it looks like it's dropping now.

-- Danny
Attached Image
  • #77,792
  • Oct 19, 2010 9:25am Oct 19, 2010 9:25am
Quoting supremeChaos
Hello leelar,
IMHO, u should get familiar with S/R, PPZ plotting first before u venture into taking continuation trades like this.
S/R & PPZs are our roadmaps. it will help u navigate through the price jungle.

regarding your trade..
my concern is u shorted near/right at a possible bottom.
i would want 128.50 - 129 broken first & with conviction to get more confident that your TP will have a chance to get hit. if 129.50 - 130 breaks first, well, u might have a problem.

Hope this helps
Yes, SC, I am learning the S/R, PPZ, Fib, etc... Thank for the great reply. Please keep the critics coming this way.
  • #77,793
  • Oct 19, 2010 9:59am Oct 19, 2010 9:59am
Quoting xmzhang
What I meant was that after selling the Loonie he could have closed his position for a small profit or loss (depending where he got in) when he saw that PB @ the TL, realizing that his initial thought on selling the Loonie was wrong. The next bar after the PB was a bar engulfing the PB and that should have really made him close his shortposition.

I think he has yet to learn about PA as he did not know what an FTA was.

I see what you mean.
  • #77,794
  • Oct 19, 2010 9:59am Oct 19, 2010 9:59am
Short term uptrend broken, 1.58 broken but long term up trend holding for now. Interesting to see how she closes later. I like touch trades but this time I'll wait for full confirmation either way, up or down @1.58. Did I correctly identify the importance of 1.5750-1.58 level?
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  • #77,795
  • Oct 19, 2010 10:04am Oct 19, 2010 10:04am
Quoting 666Doom
Another read through this great thread caught my eye here.
This is what the PF can do i think.
Now i really think i am missing something.
That tip of the iceberg thing is what caught my eye.

Would mike and any of the PF members be willing to really give me an intro of what great bible is present in the PF other then the great things i see in here.
I mean to say this thread alone made me profitable but what is hidden in PF.
I found S/R and Fib and TL and Fib expansion,MA and BRN and other Cool stuff here,now i damn am interested in knowing what...

Here's a hint. LOL


It is just more compressed I feel.
Mind you, there are systems that are not on FF.
Also, there is a a GREAT deal of material, psychology just tons of stuff.

I have made a dent in it in a month, but that is doing 12 hour days 7 days a week.

Harder work than being at university, but much more interesting.
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  • #77,796
  • Oct 19, 2010 10:11am Oct 19, 2010 10:11am
Hi Pinbar
Just noticed the clock in the right hand corner of your chart, is it freely available from the forum ?
  • #77,797
  • Oct 19, 2010 10:16am Oct 19, 2010 10:16am
Quoting grahamec
Hi Pinbar
Just noticed the clock in the right hand corner of your chart, is it freely available from the forum ?

Here you go.

Don't forget to check the import DLL thingy.
Attached File(s)
File Type: mq4 P4L Clock.mq4   32 KB | 348 downloads
  • #77,798
  • Edited 10:37am Oct 19, 2010 10:19am | Edited 10:37am
Thanks Pinbar, whats the ddl thingy ?

I have tried to install the indicator but it doesnt show anywhere, can you help or is this forum not the place for this which of course is fine.
Cheers
Grahame
  • #77,799
  • Oct 19, 2010 10:32am Oct 19, 2010 10:32am
maybe there will be a pin ba in the EU's 1H chart ????
A chart helps those who can read it.
  • #77,800
  • Oct 19, 2010 10:32am Oct 19, 2010 10:32am
Quoting ghous


g.
Indicators show the past. Price Action "Indicates" the future.
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