james16 Chart Thread | Page 4608 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #92,141
  • Mar 23, 2011 4:05pm Mar 23, 2011 4:05pm
it's just tt on tl, high burn rate, a choice of no choice for me, coz i could not trade pa setup well. i post these trades here ,just to show a little of ego, in a hope that i still can talk something with people,before i really can appreciate the power of pa along with its location.....bla bla

Quoting aserbfx
do you mind sharing your idea behind this trade?
thanks in advance
  • #92,142
  • Mar 23, 2011 4:17pm Mar 23, 2011 4:17pm
Quoting mbqb11
Hey Zoli

Eurchf- remember James teaches us to find these bars at a swing low, this is up at a swing high and a tiny bar. This means a lot of traffic

nzd/usd- technically not a pinbar cause price couldn't close within the prior bar. This can show weakness(the weak close that is). Notice your blue line of horizontal support and resistance, great line. But imagine that bar closed above that line and all those prior lows/highs. That would change the setup completely

Hope that helps
Mike
Thanks a lot Mike, amizingly quick response. I decided to go back to learning as I do not seem to be able to creat profits even if I have a floating 1200 pips. How can I be still a looser with that floating profit?
So that is why I am aproaching the whole trading again and seriously.
Kind Regards zol
  • #92,143
  • Mar 23, 2011 4:22pm Mar 23, 2011 4:22pm
Quoting zoli
Thanks a lot Mike, amizingly quick response. I decided to go back to learning as I do not seem to be able to creat profits even if I have a floating 1200 pips. How can I be still a looser with that floating profit?
So that is why I am aproaching the whole trading again and seriously.
Pips don't mean much make sure you have your Money Mgmt down


Here is a great link to learn about position sizing(in case you don't know already and for anyone else as well)
http://www.forexfactory.com/showthre...light=beginner


Learning is a great thing, it never stops with trading

Best
Mike
  • #92,144
  • Edited 5:15pm Mar 23, 2011 4:48pm | Edited 5:15pm
Quoting ghous
You correctly identified the most important factor at play here - the mess. Doesn't invalidate the setup by any means but makes it trickier for sure.

the tricky part is not getting carried away seeing a big BEOB off a good location (1.6 and the adjoining PPZ) and betting on a free fall.

We're ranging more than trending because price is finding it tough to break through hurdles of S&R and to think that it will continue to do this is wise until we see something different happen.

All eyes set on the close here, which is of prime importance...
Hi ghous,
how many pips would you risk when you aim for 15 pips?
  • #92,145
  • Mar 23, 2011 5:00pm Mar 23, 2011 5:00pm
Looks like a good place to watch for some bulish PA ... BRN - 1.4 , 50 fibo , S/R .. up trend idk will see what it does ...
Any coments ?
Attached Image (click to enlarge)
Click to Enlarge Name: eu4h.gif Size: 25 KB
  • #92,146
  • Mar 23, 2011 5:05pm Mar 23, 2011 5:05pm
Quoting mbqb11

Eurchf- remember James teaches us to find these bars at a swing low, this is up at a swing high and a tiny bar. This means a lot of traffic
hey mike,
imagine a daily candle breaks a resistance and closes maybe 20-30 pips above it. Next day we get two tiny 4 hr downbars and then a nice pinbar exactly at the support (which was the resistance before) with a close above. We have now our desired signal candle but it appears instead at a swing low near a swing high. Is it better to let the trade pass in this case?
  • #92,147
  • Mar 23, 2011 5:12pm Mar 23, 2011 5:12pm
Here is an example:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4hr.gif Size: 19 KB
Click to Enlarge Name: 1 hr.gif Size: 15 KB
  • #92,148
  • Mar 23, 2011 5:33pm Mar 23, 2011 5:33pm
My big picture eurusd.

TyJs
Attached Image (click to enlarge)
Click to Enlarge Name: bigeurusd.gif Size: 30 KB
The only constant is change
  • #92,149
  • Mar 23, 2011 5:38pm Mar 23, 2011 5:38pm
Quoting MCFly
hey mike,
imagine a daily candle breaks a resistance and closes maybe 20-30 pips above it. Next day we get two tiny 4 hr downbars and then a nice pinbar exactly at the support (which was the resistance before) with a close above. We have now our desired signal candle but it appears instead at a swing low near a swing high. Is it better to let the trade pass in this case?
Hey Mcfly

It depends highly on the situation. For example your chart would not be strong enough for me personally. IF the story is good enough for you the bars can be played at all kinds of locations. That type of setup I call a continuation, but I generally say if you can't get good at them in the traditional spots(ie how James initially presents things here) you will struggle more with the continuation. Generally it is in my opinion this is the case b/c they come more difficult to manage. Again this may not be the same for everyone, but from my experience teaching new traders this seems to be the case.

I take bars at all kinds of locations, it the look of the bar, the location that is most important.

Hope that helps
Mike
  • #92,150
  • Mar 23, 2011 6:01pm Mar 23, 2011 6:01pm
Quoting jeurre
maybe this is one of the reason? though don't appreciate exactly what PBT/CA stands for. usually I hate breakout, so many false break, account killer, this is one of the reason I can not trade PA well, you know breakout is the confirmation of PA setup, this is really annoying
Thanks, jeurre & aserbfx. First I agree that breakouts are hard to identify, at least to me. My general view on PBT/CA is that it is a PA pattern that correlates with breakouts reasonably good. It seems that guys here including Mike has been trading breakouts successfully. To me what this PBT/CA may have missed is a good confirmation from PZ.

@mbqb11: Mike do you see this as a breakout? Is it a fair comment that you mainly focus on breakouts after convergence? Thanks!
  • #92,151
  • Mar 23, 2011 6:08pm Mar 23, 2011 6:08pm
Quoting minos.niu

@mbqb11: Mike do you see this as a breakout? Is it a fair comment that you mainly focus on breakouts after convergence? Thanks!
Hey Minos

To me that is simply price making a new high. For me I am looking for breakouts of specific patterns. In this case we were testing a high which is a nice area to watch but we want to either watch price action around this area or look for some more clues. Since it broke a high within such a tight range that means generally things are choppy. So there is not enough information here for me to call this a breakout

Hope that helps
Mike
  • #92,152
  • Mar 23, 2011 6:21pm Mar 23, 2011 6:21pm
Quoting mbqb11
Hey Minos

To me that is simply price making a new high. For me I am looking for breakouts of specific patterns. In this case we were testing a high which is a nice area to watch but we want to either watch price action around this area or look for some more clues. Since it broke a high within such a tight range that means generally things are choppy. So there is not enough information here for me to call this a breakout

Hope that helps
Mike
Thanks for the prompt response, Mike. By "specific patterns", do we mean one of the following?

 

  1. a PZ that has been repeatedly tested
  2. the support line in a bullish trend / the resistance line in a bearish trend
  3. either the support line or the resistance line in a converging trend

What I'm now seeing in this case is that none of the above was confirmed. Did I miss any of your "specific patterns"?

  • #92,153
  • Mar 23, 2011 6:25pm Mar 23, 2011 6:25pm
Quoting minos.niu
Thanks for the prompt response, Mike. By "specific patterns", do we mean one of the following?

 

  1. a PZ that has been repeatedly tested
  2. the support line in a bullish trend / the resistance line in a bearish trend
  3. either the support line or the resistance line in a converging trend

What I'm now seeing in this case is that none of the above was confirmed. Did I miss any of your "specific patterns"?


Hey Minos

For me I am looking for specific patterns such as boxed consolidation, wedges, flags, and the like. So actual consolidation patterns that the market is winding up in. Then I can use these patterns in multiple ways with PA to trade them as breakouts at least

Hope that clears it up
Mike
  • #92,154
  • Mar 23, 2011 7:19pm Mar 23, 2011 7:19pm
Tt rn 61.8 ftb
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 103 KB
  • #92,155
  • Mar 23, 2011 8:14pm Mar 23, 2011 8:14pm
Quoting mbqb11
Glad to see Steve

Take care of yourself buddy


Mike

Thanks Mike.

I was convinced the plane was going to take off after the engine trouble and then give me just enough time to go Phewwww, before it crashed into Siberia.

Changed most of my Yen into Chinese Gen before the Yen crashes.
  • #92,156
  • Mar 23, 2011 10:19pm Mar 23, 2011 10:19pm
Quoting MCFly
Hi ghous,
how many pips would you risk when you aim for 15 pips?
I never aim for a target that small MC,

For one I take trades on pull backs into PA bars which usually gives me more space to work around with my pips, secondly I don't take full profits on extremely close by FTAs. Either the setup has to convince me that it has the muscle to push through the FTA or else its a pass.

Of course that does doesn't mean the FTA goes unnoticed. You can always reduce your risk and/or set your trade at BE once price approaches the FTA. Taking partial profit is another possibility though that's something I don't like to do.

g.
I believe . . .
  • #92,157
  • Mar 23, 2011 10:21pm Mar 23, 2011 10:21pm
Quoting dodko1144
hey ghous i didn t really use FF forum so i can t write personal message can u please write me or give me any contact to u ? i wanna contact u long time but i cant find a way how to do it
You need more posts than 1 to get the private messaging feature working.

you can e-mail me at [email protected] if you want to,

g.
I believe . . .
  • #92,158
  • Mar 23, 2011 10:21pm Mar 23, 2011 10:21pm
Quoting Pinbar
Thanks Mike.

I was convinced the plane was going to take off after the engine trouble and then give me just enough time to go Phewwww, before it crashed into Siberia.

Changed most of my Yen into Chinese Gen before the Yen crashes.
Good to hear that Steve.

g.
I believe . . .
  • #92,159
  • Mar 23, 2011 10:23pm Mar 23, 2011 10:23pm
Does this commercial forum of James16 still sale ?
Thanks
  • #92,160
  • Mar 23, 2011 10:32pm Mar 23, 2011 10:32pm
Hey ghous,
What do you think of this IPB?
Attached Image (click to enlarge)
Click to Enlarge Name: chart 3.gif Size: 16 KB
109 traders viewing now