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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

  • #80,141
  • Nov 16, 2010 4:58am Nov 16, 2010 4:58am
Quoting xmzhang
Hey Adi, my broker is IG-index the UK-branch. Their platform is called PureDeal and its at the moment my favourite tradingplatform.
Thanks! Never heard of this one before. Will remember for the day I will choose a live broker for me
  • #80,142
  • Nov 16, 2010 5:05am Nov 16, 2010 5:05am
Xmzhang.

I really think it is great the way, you only joined FF in July, this year and have taken to J16 like a duck to water. Good for you!

I always love to look at your charts, they are so, how can I say, technical but interesting. Always, reminds of one of those build it yourself kits, I bought as a kid. Reading the plans and getting really excited, till I broke a transistor or melted a wire soldering it together. LoL
  • #80,143
  • Nov 16, 2010 5:24am Nov 16, 2010 5:24am
Stopped out for around BE+150 pips on the last third of the trade.

Wasn't worth risking any more as it was hanging around that PPZ too much for my liking after it broke through.

Interesting how an H4 PB trade can last from Nov 9th till just now.
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  • #80,144
  • Nov 16, 2010 5:57am Nov 16, 2010 5:57am
Quoting Pinbar
Xmzhang.

I really think it is great the way, you only joined FF in July, this year and have taken to J16 like a duck to water. Good for you!

I always love to look at your charts, they are so, how can I say, technical but interesting. Always, reminds of one of those build it yourself kits, I bought as a kid. Reading the plans and getting really excited, till I broke a transistor or melted a wire soldering it together. LoL
Thanx for the compliment Pinbar, you're doing very fine also, but I think all the credits goes to the senior members of this thread, Jarroo, Mike ..... I really admire their unselfish efforts in trying to help newbies to get them on the right track. Especially in this hard business like Forex where everything evolves around making money at the cost of somebody else. It's a relief to see that are also good people in this business who are prepared to spend their time and efforts in educating newbies like me, not once but day in and day out, lots lots of respect for these guys
Pipcrawler
  • #80,145
  • Nov 16, 2010 6:06am Nov 16, 2010 6:06am
Just closed a trade on oil for a 105 profit, daily PB hit my target @ RNB 8400. Entry on 30m-TF via a PB (not actually a James PB, more of a shooting star) I expect oil to get some firm support at 8400.
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Pipcrawler
  • #80,146
  • Edited 6:57am Nov 16, 2010 6:32am | Edited 6:57am
is it a good position to go short ???
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A chart helps those who can read it.
  • #80,147
  • Nov 16, 2010 6:36am Nov 16, 2010 6:36am
Still short on the Dow, sold the Dow at a pullback of the daily PB on the lower TF via a 30m_PB. Took partial profit @ 11500 which then acted as resistance, took some more off the table @ 11120, which now seems to act as support .....
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Pipcrawler
  • #80,148
  • Nov 16, 2010 6:43am Nov 16, 2010 6:43am
Quoting xmzhang
My next longer TF pick, PB at resistance of consolidation box and RNB @ 13400.
This daily PB didn't work out like the other mentioned daily PB's, price is just wiggling around between the RNB @ 13400 and the low of the daily PB, didn't see a clear sell PA on the lower TF's at my keylevel @ 13400 so I deleted this one from my watchlist.
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Pipcrawler
  • #80,149
  • Nov 16, 2010 7:03am Nov 16, 2010 7:03am
It looks like the E-Cad has finally taken off after some hesitation, the pullback of the daily BUOB was completed right at RNB @ 13700 via a PB and BUOB on the 1H-TF. Btw I'am not in this trade, just analyzing this pair for a exercise.
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Pipcrawler
  • #80,150
  • Nov 16, 2010 7:04am Nov 16, 2010 7:04am
Quoting geniusztc
is it a good position to go short ???
What are your reasons to sell there ?
Pipcrawler
  • #80,151
  • Nov 16, 2010 7:14am Nov 16, 2010 7:14am
Quoting xmzhang
What are your reasons to sell there ?
the price broke the support zone ,and it then pulled back to the previous support line ,now may be resistance line ,so i shorted it.
A chart helps those who can read it.
  • #80,152
  • Nov 16, 2010 7:25am Nov 16, 2010 7:25am
Quoting geniusztc
the price broke the support zone ,and it then pulled back to the previous support line ,now may be resistance line ,so i shorted it.
You said "maybe", that doesn't count here you'll need more than a "maybe" to enter a trade. Looking at your chart your sell order was @ 9812, that means your entry is just above a RNB @ 9800 which is also daily PPZ, we want to trade away from these RNB's and not into them. As you see price did pulled back (one bar) after breaking previous day low (support) hit the 9800 and jumped back not able to breach the 9800 at the moment.
Pipcrawler
  • #80,153
  • Nov 16, 2010 7:51am Nov 16, 2010 7:51am
Quoting xmzhang
You said "maybe", that doesn't count here you'll need more than a "maybe" to enter a trade. Looking at your chart your sell order was @ 9812, that means your entry is just above a RNB @ 9800 which is also daily PPZ, we want to trade away from these RNB's and not into them. As you see price did pulled back (one bar) after breaking previous day low (support) hit the 9800 and jumped back not able to breach the 9800 at the moment.
as you said ,i am wrong , lost 13 pips.
A chart helps those who can read it.
  • #80,154
  • Nov 16, 2010 7:57am Nov 16, 2010 7:57am
Just wanted to say thanks for all posting charts....xmz...Pinbar...unlv tj ....taz....squeezy..sorry if I forgot to mention anyone else. and of course the seniors....it all helps to see it from others perspectives...you guys are having all the fun...haven't had the time to post lately(November and December) are busy for me....and trying to keep up with your posts

Just wanted to say thanks and appreciate your time that it takes to post

Bill
  • #80,155
  • Nov 16, 2010 8:04am Nov 16, 2010 8:04am
I closed out my trade with 25 pips of profit at 1.3865. I wanted to hold on until at least 1.3925, but price has been moving sideways for the last few hours under the 1.3880 level. It might not be ready to explode yet.

Maybe I got too ancy and closed too early, but price seems to be sideways right now.
  • #80,156
  • Nov 16, 2010 8:59am Nov 16, 2010 8:59am
Pinbar, remember when you gave me many ideas on how to find PPZ's and I told you that I see PPZ(S&R on round number) everywhere?
Well I found a chart that shows that pretty well!

Look at the Daily USDCAD chart. Thats exactly the type of chart I mean that I see S&R everywhere on!

If you look at the chart I attached, you will see that (most likely) my PPZ's doesn't look at all like then ones you would have drawn on it.. or?

To me, my chart looks like a birdcage.. It would be impossible to trade on this chart wouldn't it? So could you please tell me what I have done wrong here?

Really want to get the PPZ's down!!

Thank you.
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  • #80,157
  • Nov 16, 2010 9:05am Nov 16, 2010 9:05am
Quoting unlv_tj
I closed out my trade with 25 pips of profit at 1.3865. I wanted to hold on until at least 1.3925, but price has been moving sideways for the last few hours under the 1.3880 level. It might not be ready to explode yet.

Maybe I got too ancy and closed too early, but price seems to be sideways right now.

My entry was on retrace of BUOB on daily basis. Now price is trying hard to break the TL. - Let's see
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  • #80,158
  • Nov 16, 2010 9:06am Nov 16, 2010 9:06am
Quoting squeezy
sure found support @ 1.37 ..... weekly support, higher tfs rule
wld have liked a stronger close on the buob though......

watching 1.396....
1.43 is a possibility
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Simplicity is the key to success
  • #80,159
  • Nov 16, 2010 9:20am Nov 16, 2010 9:20am
Quoting xmzhang
Still short on the Dow, sold the Dow at a pullback of the daily PB on the lower TF via a 30m_PB. Took partial profit @ 11500 which then acted as resistance, took some more off the table @ 11120, which now seems to act as support .....
Price has hit my final target @ 11100 price also has moved more than 2/3 of its ADR at the moment so there isn't much profit potential left, so 2 reasons for me to close my remaining position and not to be too greedy I expect firm support @ 11100 and a bounce back
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Pipcrawler
  • #80,160
  • Nov 16, 2010 9:56am Nov 16, 2010 9:56am
Quoting Carnegie
Pinbar, remember when you gave me many ideas on how to find PPZ's and I told you that I see PPZ(S&R on round number) everywhere?
Well I found a chart that shows that pretty well!

Look at the Daily USDCAD chart. Thats exactly the type of chart I mean that I see S&R everywhere on!

If you look at the chart I attached, you will see that (most likely) my PPZ's doesn't look at all like then ones you would have drawn on it.. or?

To me, my chart looks like a birdcage.. It would be impossible to trade on this chart wouldn't it? So could you please...
ahhh but now here is a simple lesson for you that I never forget to see

If price is that crazy what is it probably donig? Ranging. Look at that huge mess of consolidation. We MUST MUST MUST be aware of the environment ahead of us. The odds price will continue to chop around it is always going to be greater in this time of mess. I choose not to trade in this stuff. Others love it, but they are well aware of it. Most people have not a clue the market is ranging so hard and their account goes down down down.

Best
Mike
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