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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

  • #78,061
  • Oct 21, 2010 4:34am Oct 21, 2010 4:34am
I took this EG trade this morning following these steps:

On spotting the DBLHC on the Daily Tf this morning I cranked down to H4 tF and spotted a nice bullish pb sitting pretty well on the 0.88000 BRN. I then set up a buy stop just above the pb, then threw in my fib tool. Now seeing that 0.88500 BRN which has also been a Daily ppz and close to the first fib extension I presumed that on breaking price might stall around there so I put my take profit just below it and for my Sl I cranked to H1 tf and located 0.87713 point well below the 0.88000 (Charts are arrange in order of reference).
The result was that my trade was triggered and my TP hit and price went far beyond. My main point of concern in this trade was my r:r i.e tp vs sl, I risked more than I aimed for. But in all do you think I focused on the right things in terms of the trigger candle formation along with the location and traffic? Pleas feel free to criticize positively.
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  • #78,062
  • Oct 21, 2010 5:01am Oct 21, 2010 5:01am
Quoting jeffokes
I took this EG trade this morning following these steps:....
'Asses this please'
that didnt sound good

seriously, i think u did well.
it was a continuation trade, near the recent highs, but momentum & trend were in your favor.
be sure u are always aware of the surrounding trouble areas that can make price reverse on u.
as for TPs, u can open several positions to take advantage of a strong trend.

Quoting mattfx
This thread can only add to what one has learnt, or would like to learn, ...
Awesome, Sir
  • #78,063
  • Oct 21, 2010 5:03am Oct 21, 2010 5:03am
Quoting jarroo
I understand you view Atc, but we still have to fight a strong move down. We can have this turning point (sup to res) work with the trend.

Its good to look at both sides of the equation.
very true ...I was being conservative in relation to the downward pressure and believed that it would at least get back to 79.50 zone ...was looking at the wkly low for 1st fta(check mark)---guess who taught me this?(you-Jim)...that is why I took 2/3 of my position off at 79.50 area and move to BE...other third stopped out at BE
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  • #78,064
  • Oct 21, 2010 5:16am Oct 21, 2010 5:16am
Quoting supremeChaos
'Asses this please'
that didnt sound good

seriously, i think u did well.
it was a continuation trade, near the recent highs, but momentum & trend were in your favor.
be sure u are always aware of the surrounding trouble areas that can make price reverse on u.
as for TPs, u can open several positions to take advantage of a strong trend.


Awesome, Sir
SC thank you!!!
Please don't rupture your spleen over this yet, wait untill you see the next caption. Next time I will title it "MY DEBRIEF" . How would you rate that? Sounding 24ish right - remeber CTU agents after a field operation right?

As for the trouble areas do you think I did well in that regards wrt this trade as well?

Thank you.

More "assessment" please!!!!!
  • #78,065
  • Oct 21, 2010 5:28am Oct 21, 2010 5:28am
Quoting jeffokes
...
As for the trouble areas do you think I did well in that regards wrt this trade as well?...!
im not sure how to answer your question.
0.8850 is the only line i see in your chart (around current price). any other nearby trouble areas u have?

ooops, we might have a CTU agent here, i better shape up & stay serious


Quoting mattfx
Well, I think I can breath easier now having now said, thanks to Southern Comfort, and thanks Supreme, hey I feel vindicated...
...
Southern Comfort huh?
im very cheap. a piece of chocolate bar would do it for me.
  • #78,066
  • Oct 21, 2010 5:52am Oct 21, 2010 5:52am
here's one I was watching waiting and missed..asleep at the wheel

Daily double PB with retrace to 61.8 breaks above 1.4 RN then pull back to retest 1.4 shown on hourly(denoted by X) and here we go up up and away
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  • #78,067
  • Oct 21, 2010 6:16am Oct 21, 2010 6:16am
...The power of the higher TF's shows its face.
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  • #78,068
  • Oct 21, 2010 7:17am Oct 21, 2010 7:17am
Hi Jarroo
I wasn't gonna post this, , still I have to post good with bad so I can get feed back.
I entered after price retraced to the .75 BRN, I thought woow this is a classic Jarroo, I didn't read something right that's for sure, anyway

The Daily BEOB itself didn't convince me it was a short ,it was the retrace of the H4 BEOB and the slow momentum when price reached .75 ,

there was PBs on M5 M30 (M30 close was not perfect) all the indications were telling me it was going short.
I entered off the H1 TF PB ,It wasn't good enough.
SL .7520
TP .7430
I know my SL should have been lower but I could well have entered on the M15 TF ,and the result would be the same.

Critic Please
D
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  • #78,069
  • Oct 21, 2010 7:34am Oct 21, 2010 7:34am
Greetings everyone,

I looked at Damien100's 1H chart and noticed that the NZD/USD might be forming an inverted head and shoulder (Please CMIIW)?

Anyone thoughts on this?

Regards,
MG
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o que será, será
  • #78,070
  • Edited 7:53am Oct 21, 2010 7:42am | Edited 7:53am
Just took a long shot at the U-C, on the 1H-TF price generated a (not a perfect one) DBLHC.
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Pipcrawler
  • #78,071
  • Oct 21, 2010 7:52am Oct 21, 2010 7:52am
Quoting xmzhang
Just took a long shot at the U-C.
Price has hit FTA @ 10220, closed 1/2 for a 15 pip profit, let the other 1/2 run towards the down-TL which then comes into play.
Pipcrawler
  • #78,072
  • Oct 21, 2010 8:30am Oct 21, 2010 8:30am
Quoting xmzhang
Price has hit FTA @ 10220, closed 1/2 for a 15 pip profit, let the other 1/2 run towards the down-TL which then comes into play.
Bummer, remaining position stopped out @ BE, seems that the FTA is acting as resistance now and price doesn't has enough juice to breach this barrier.
Pipcrawler
  • #78,073
  • Oct 21, 2010 8:35am Oct 21, 2010 8:35am
i started a new thread which is called 2b pattern. it's a developpement of the initial pin bar at double x situations. i have collected some charts and i think that it's a good read for all james16 students.
thanks mike and james because i learned a lot of good things from you.

delta
  • #78,074
  • Oct 21, 2010 10:25am Oct 21, 2010 10:25am
Quoting deltatrade
i started a new thread which is called 2b pattern. it's a developpement of the initial pin bar at double x situations. i have collected some charts and i think that it's a good read for all james16 students.
thanks mike and james because i learned a lot of good things from you.

delta
Hello Deltatrade, so 2b stands for 2 top/ 2 bottom (not 2 bar) and valid for said formations only, right?
  • #78,075
  • Oct 21, 2010 10:46am Oct 21, 2010 10:46am
Man this is fun: Take a random chart, mark the PPZ and spot price action. Despite of messy market conditions even the not so perfect ones worked out most of the times (still beware!) A very uplifting and valuable practice.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #78,076
  • Oct 21, 2010 10:51am Oct 21, 2010 10:51am
Quoting Adilius07
Hello Deltatrade, so 2b stands for 2 top/ 2 bottom (not 2 bar) and valid for said formations only, right?
i don't know . all that i know is that victor sperandeo a trader who worked with soros wrote some books in which he gave this name for the pattern. i think it stands for 2 bottom.
  • #78,077
  • Oct 21, 2010 10:56am Oct 21, 2010 10:56am
Quoting supermatt
here here. i barely even visit this thread anymore due to how off track its got.
oh good at least someone is with me
  • #78,078
  • Oct 21, 2010 11:06am Oct 21, 2010 11:06am
Quoting HanSolo
Man this is fun: Take a random chart, mark the PPZ and spot price action. Despite of messy market conditions even the not so perfect ones worked out most of the times (still beware!) A very uplifting and valuable practice.
Yep this will help bring your confidence up in trading price bars. But take it a step further and for each of these setups, mark where price is likely to go and you will see another light come on. Then it's just a mater of being patient and staying picky

Good stuff han
  • #78,079
  • Oct 21, 2010 11:08am Oct 21, 2010 11:08am
Quoting Mist Gun
Greetings everyone,

I looked at Damien100's 1H chart and noticed that the NZD/USD might be forming an inverted head and shoulder (Please CMIIW)?

Anyone thoughts on this?

Regards,
MG
It could be MG, I am watching the 7500 area for clues but we are choppy around this PPZ(no surprise) so just be picky at this area. Let price tip its hand

Best
Mike
  • #78,080
  • Oct 21, 2010 11:12am Oct 21, 2010 11:12am
Quoting aserbfx
allianz is approaching upper trendline and rn 90 eur. check for a breakout in the next days.
broke through the upper trend line. but retraced from the 90 eur. breakout on good volume signalizes strength and potential to continue. i would wait for a clear break of the 90 eur.
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meine augen sind die sterne
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