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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

  • #88,721
  • Feb 11, 2011 3:37am Feb 11, 2011 3:37am
Quoting Pinbar
Hi DB

Thanks for your input.

Well, I am doing ok but BE is the average and thinking about it, I miss many good opportunities through analysis paralysis.

If I can defeat the AP, I think this may push me into the BE+ zone.

I don't want to end up being mediocre, if you see what I mean.

It sure is a Long, hard lonesome road we are walking.

I have been thinking about this a lot, and possibly, trying to predict PA is taking it's toll on me.

Perhaps, seeing the PA, then doing the analysis is the way to go.
Sounds familiar

I used to and sometimes still over analyse. I have to keep reminding myself that if I make it complicated it's almost the same as having a dozen or so indicators on the chart! Anyway the way I trade now is look for PA first and then do my analysis. It does help that I trade daily so usually have time to carry out my analysis.

HTH.
  • #88,722
  • Feb 11, 2011 4:11am Feb 11, 2011 4:11am
GU selling of to 1.6 area, nice box on the daily just under 1.6. This will be the first proper test of this level since we broke out the box. Some nice PA at this level to show the way please!
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  • #88,723
  • Feb 11, 2011 4:18am Feb 11, 2011 4:18am
Quoting Chelski
GU selling of to 1.6 area, nice box on the daily just under 1.6. This will be the first proper test of this level since we broke out the box. Some nice PA at this level to show the way please!
Looks interesting. Imo first test was yesterday but today we have TL on our side which adds to the confluence.

Strong momentum to fight with but last low is still intact. Touch play is good idea. Breakeven on last one.
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  • #88,724
  • Feb 11, 2011 4:19am Feb 11, 2011 4:19am
Hi all

Nothing doing on the dailies for me today so all about seeing where we are for the dailies and weeklies on Sunday night. Still watching some pairs approaching PPZ areas but otherwise been a quiet week. Will be back on Sunday so good trading to all in the meantime.

Kal
  • #88,725
  • Feb 11, 2011 4:24am Feb 11, 2011 4:24am
Hi all

the weekend is nearly here and I don't think any of us got too badly hurt

Some though, may be feeling very anxious or confused- nearly, so nearly, at the point of that light bulb igniting.

Well, if you are, congratulations.
Now, don't force the issue.
Take the weekend off.
Leave the charts and forum behind.
Switch the poor computer off.
Do some fun stuff you've been wanting to do for a while.

Your conscience has done its job. It has absorbed all the information you need to make it in this business. Now take a break and let your subconscience turn nurture into nature.

Anyway, thanks to our amazing mentors for another great week's lessons. You truly are the best
  • #88,726
  • Feb 11, 2011 4:28am Feb 11, 2011 4:28am
Quoting Greenhaze
Looks interesting. Imo first test was yesterday but today we have TL on our side which adds to the confluence.

Strong momentum to fight with but last low is still intact. Touch play is good idea. Breakeven on last one.
I take your point on yesterday, it was a few pips shy of 1.6. Yesterday was nice for touch trade, today i want a sign!!
  • #88,727
  • Feb 11, 2011 4:34am Feb 11, 2011 4:34am
Quoting Chelski
I take your point on yesterday, it was a few pips shy of 1.6. Yesterday was nice for touch trade, today i want a sign!!
You are right.. I was planning to take that touch trade mainly becouse of tl confluence but it looks like my SL will be taken at 1R. Lets see how the h1 will close.
  • #88,728
  • Feb 11, 2011 4:42am Feb 11, 2011 4:42am
Quoting Greenhaze
You are right.. I was planning to take that touch trade mainly becouse of tl confluence but it looks like my SL will be taken at 1R. Lets see how the h1 will close.
Great area all round
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  • #88,729
  • Feb 11, 2011 4:42am Feb 11, 2011 4:42am
Quoting Greenhaze
You are right.. I was planning to take that touch trade mainly becouse of tl confluence but it looks like my SL will be taken at 1R. Lets see how the h1 will close.
1.58 looks nice 50% fib and bottom ox the box
  • #88,730
  • Feb 11, 2011 4:48am Feb 11, 2011 4:48am
Quoting Chelski
1.58 looks nice 50% fib and bottom ox the box
No PA yet either way. For short would really like to see resistance at 1.60. For long would love big PB on H4.

Might be great for the BO traders. I'll wait and see

Edit: Sorry. We do have H4 BEEOB possibly closing below 1.6 and a broken TL. Would still love a Pullback though
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  • #88,731
  • Feb 11, 2011 5:12am Feb 11, 2011 5:12am
Quoting Ifmyante
Great area all round

Usually at tight areas like that price is reacting quickly. There was a lot of confluence and price stalled there without any big orders coming to the market.
I should have enter after break of m5 IB ...it would save my a¤% here and on oil touch trade couple days before.
  • #88,732
  • Feb 11, 2011 5:16am Feb 11, 2011 5:16am
Quoting Greenhaze
Usually at tight areas like that price is reacting quickly. There was a lot of confluence and price stalled there without any big orders coming to the market.
I should have enter after break of m5 IB ...it would save my a¤% here and on oil touch trade couple days before.
I love the way you trade GH. But it would scare the bejaysus out of me
  • #88,733
  • Feb 11, 2011 5:32am Feb 11, 2011 5:32am
Any caveats, peeps?
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  • #88,734
  • Feb 11, 2011 5:34am Feb 11, 2011 5:34am
Quoting Ifmyante
I love the way you trade GH. But it would scare the bejaysus out of me
I like to play bit more agressive. This time i used bigger position then usuall on touch trade and was to scared to cut the lose earlier....

From daily perspective GU 1.6 area was tested couple of times and breakout was hanging in the air. It was strong breakout and it might be good to take short on lower tf on first retest.
  • #88,735
  • Feb 11, 2011 5:45am Feb 11, 2011 5:45am
Quoting Ifmyante
Great area all round
For me 1.6 is a good area. Gave me a good trade last week so will look for PA, but only on daily (I tend not to jump between TF).

Also two buy trades on UJ and UC this week. Still holding my UJ trade (+100 with SL at BE). Was worried about .97 on UC and closed early but it looks like I should have held as price is near .9730 now

Anyway was a good week so mustn't complain.
  • #88,736
  • Feb 11, 2011 5:50am Feb 11, 2011 5:50am
Quoting sr2
For me 1.6 is a good area. Gave me a good trade last week so will look for PA, but only on daily (I tend not to jump between TF).

Also two buy trades on UJ and UC this week. Still holding my UJ trade (+100 with SL at BE). Was worried about .97 on UC and closed early but it looks like I should have held as price is near .9730 now

Anyway was a good week so mustn't complain.
Profits made and lessons learned

Great week
  • #88,737
  • Feb 11, 2011 5:51am Feb 11, 2011 5:51am
Quoting sr2
Sounds familiar

I used to and sometimes still over analyse. I have to keep reminding myself that if I make it complicated it's almost the same as having a dozen or so indicators on the chart! Anyway the way I trade now is look for PA first and then do my analysis. It does help that I trade daily so usually have time to carry out my analysis.

HTH.
Thanks for your input HTH

Yes, I can see how you mean, over analyzing is indeed like having too many indicators giving conflicting signals.
  • #88,738
  • Feb 11, 2011 5:52am Feb 11, 2011 5:52am
Quoting Greenhaze
I like to play bit more agressive. This time i used bigger position then usuall on touch trade and was to scared to cut the lose earlier....

From daily perspective GU 1.6 area was tested couple of times and breakout was hanging in the air. It was strong breakout and it might be good to take short on lower tf on first retest.
Once I've replaced the couple of shirts I lost in m5 I may return there again.

I still do take a peak for HH/HL and such there though
  • #88,739
  • Feb 11, 2011 5:58am Feb 11, 2011 5:58am
My 4h feed still has 2h till close so we could see 1.6 hold. i had forgotten the BUOB on weekly. While not at swing point it was the first week to close over 1.6.
  • #88,740
  • Feb 11, 2011 6:00am Feb 11, 2011 6:00am
Quoting Ifmyante
Once I've replaced the couple of shirts I lost in m5 I may return there again.

I still do take a peak for HH/HL and such there though


Im still playing H4 and higher tf setups but i cant cope with longer times of drawdawn so i am looking for tighter entries on lower tfs..... Only 4 hours of work left and i didnt do anything besides watching charts and reading FF.....
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