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Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
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james16 Chart Thread

Quoting Adilius07
Hi, Mike, very strong points, thank you very much! You know sometimes I felt that whatever method I choose I will get somehow similar results, just like you said every method has its trade offs... I mean if my picks are bad I will fail with BE or without... so yeah maybe I need to focus on my picks more.

I think I will just stick to my simple BE rule. For now. For some time...

Sorry for bringing this subject up so many times! Thanks.
Hey Adi,

How is your IB long trade working out?
Quoting cprao
Is it ? Can this be done ? I will try this approach. However, I need a good EA to manage my trades.
It is.
In demo, at least.
Quoting Greenhaze
Hey Adi,

How is your IB long trade working out?
Thanks for asking

Well, I think I scared the hell out of them with my crossed fingers on both hands and my SL 3 pips below the Price at that time

Red line is my SL
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How'ld that bounce work out
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I'm getting dizzy from all the bouncing....short...... long...and the markets play on.
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Quoting cprao
Is it ? Can this be done ? I will try this approach. However, I need a good EA to manage my trades.
Try this Swiss Army Knife

http://www.forex-tsd.com/expert-advi...anagement.html
Quoting Adilius07
Thanks for asking

Well, I think I scared the hell out of them with my crossed fingers on both hands and my SL 3 pips below the Price at that time

Red line is my SL
Uff that was close...

This move south managed to shake a lot of players out from long positions.
Can we go up now please
Quoting Greenhaze
Uff that was close...

This move south managed to shake a lot of players out from long positions.
Can we go up now please
Yeah just got lucky this time
...1.40 in a few days would be nice to see
But yes I see the resistance right above of course, so I will be quick with BE... we will see
Quoting Atc
How'ld that bounce work out
I was expecting a quicker reaction and that didnt happen so i took a small lose just at the tip.
Quoting Adilius07
Yeah just got lucky this time
...1.40 in a few days would be nice to see
But yes I see the resistance right above of course, so I will be quick with BE... we will see
There was no luck in that...
Spikey tops/bottoms now how to defend themselves
Quoting Greenhaze
There was no luck in that...
Spikey tops/bottoms now how to defend themselves
now there is that ugly H1 bearish Pin... man what a stressful day this is
Quoting Greenhaze
There was no luck in that...
Spikey tops/bottoms now how to defend themselves
Ahh now I better understand what you mean... if they managed to "defend" once then there are really pile of stops behind those lows now... and this is where The Double Bar Low setup comes into play, that is it, there are really lots of orders down there, and the break of these two bars will make a tradable short setup....

Well that means my SL in a good spot anyway. If it fails there is nothing to stop the price from moving lower...

Or maybe I'm just fantasizing this... sounds good to me
Hi!

I have a question...

I have read a couple of times that if you see a 15M timeframe and a 4H timeframe you cant tell wich is 15M and wich is 4H... so... if that is true...

Why you recomend price action like pinbars only in higher time frames?

Thanks a lot!
Quoting Adilius07
... and the break of these two bars will make a tradable short setup....
Or trigger the breakout/sell_stop orders, reverse and close above that level making one nice , cherry pb. Guess whose stop loss orders will be above it?
Quoting 5.25
Thanks SC

It obviously was a pass for you...

I've seen a lot of posts where price breaks through a particular PPZ level on the daily, then seeking PA verification to support the R/S shift and vice verser. This was my assumption and I went down to the lower time frames to find it. I was obviously wrong.

Think I may have disregarded other J16 teachings in the process.

Helps a lot, I'll take another look at my entry and the PBT&CB / PBT&CA teachings.

(RE: 'About SC', I'm a climber myself. I've been wanting to head back to Nepal...


Hey Tomek.

sChoas and GH (Pozdro? ok . .lol) made some great comments on the other things that you have to take into consideration regarding a good setup to take. The Hourly PB on the AU did hit its 1st target. . .albeit a small pip amount . .another thing to think about. ( "This is Critical", free trade, etc.)

When you went down to the lower time frame you were not "obviously wrong" in my point of veiw. But I don't want to get into that because it goes beyond the scope of this Thread.

Keeping within the scope of this Thread . .regarding PBT&CAorB . . .don't try to make this transformation of S/R levels at a PPZ level more complicated than they really are. .the key is finding the strong ones.

Take the Gbp/Cad on the Weekly at the 1.5550 (charts). . .

Once PBT&CA the 1.5550 Resistance level, "going down to the lower time frame" on the Daily we can clearly see a very simple, clear, no brainer . . bullish PB at this newly formed Support level that would make James16 and Mike . .

You can check out the 1.6000 level (also check other feeds at the 1.6)
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Indicators show the past. Price Action "Indicates" the future.
Yes, the strong rejection of the 1.5500 BRN would have made Mike more.
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Indicators show the past. Price Action "Indicates" the future.
what in the..... E/U intraday.....

I guess.... congrats, maybe, to anyone still long on that I4B..... I was finished with my chance at a successful trade there during London...

madness.

EDIT: on a side note, I am so happy I decided to step in and manually shut down my E/G short yesterday @ 0.8365
Many choose unhappiness over uncertainty.
Quoting trucheitor
Hi!

I have a question...

I have read a couple of times that if you see a 15M timeframe and a 4H timeframe you cant tell wich is 15M and wich is 4H... so... if that is true...

Why you recomend price action like pinbars only in higher time frames?

Thanks a lot!
Hey Truch

For the most part you are right. Meaning usually everything is within the context of the timeframe. The problem is if you are new to this stuff a 15min timeframe moves fast, and most people don't do a thorough analysis or understand and it leads to tons of mistakes and over trading. Where as learning on the higher timeframes teaches and builds a foundation that is very important. Patience and discipline. Without those you are dead in the water on any timeframe, but on a 15min that road to ruin is a quick one for most. So I always say it is about giving yourself the proper foundation. Most people come from trading the 5/10/15min and it becomes an ego thing to try and switch and treat things more business like at least till one feels confident to move down(if one ever feels like it at all).

Hope that helps and of course that is just my opinion

Mike
Good place to look for long setup.
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  • Post #89,260
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  • Edited Feb 17, 2011 11:31am Feb 16, 2011 6:13pm | Edited Feb 17, 2011 11:31am
Watching the DLHC (within 1 pip) on Eur/Usd. First target would be the bar highs just below the 1.37. Off the 1.35, 365 ema, minor ppz.

Any comments?

Edit: Not off the 365 (Colored the ppz the same color.. )

Edit#2: It was off the 365.... Dumb ass moment....
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