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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

  • #92,301
  • Mar 27, 2011 3:23pm Mar 27, 2011 3:23pm
Hi

I know that trade management is a hot topic and may have been answered several times. I address it anyway as it seems to me that I lack it big time. I will reapproch in myself as many times as I get it.

So when you identify a set up, also note the potential "trouble areas". You set your SL, say just beyond the pin bar. Let us say the risk is 1-2 % of the capital in case the SL gets hit.

So what do you do than? (Sorry that I am asking this, again this is my weakness as I was able to be up many pips but I do not seem to be taking profits...)
Do you pull to BE at first trouble area?
Do you pull to BE after some 30 pips in profit risking being stoped out but no loss at all?
Do you take partial profit at first trouble area?
Do you leave the rest for either big gain or BE?

Could you, fellow trader with consistant profit, outline some ideas regarding same? Or even direct me to a good source of information or discussion of this?

I appreceate your time!

For example: I am long EU at 36104 but do not really know what to do with it. Only honesty coming from me. I have now idea. It is 476 pips up, nice run and I may as well just leave it to do further or die. But obviously I can not do this with all my positions or it did not work until now.
Kind Regards zol
  • #92,302
  • Mar 27, 2011 4:41pm Mar 27, 2011 4:41pm
Quoting zoli
Hi

I know that trade management is a hot topic and may have been answered several times. I address it anyway as it seems to me that I lack it big time. I will reapproch in myself as many times as I get it.

So when you identify a set up, also note the potential "trouble areas". You set your SL, say just beyond the pin bar. Let us say the risk is 1-2 % of the capital in case the SL gets hit.

So what do you do than? (Sorry that I am asking this, again this is my weakness as I was able to be up many pips but I do not seem to be taking profits...)
Do...
Hey Zol

As each trade is situational for me it's hard to be anything but more general. Here is a more general idea of how I at least approach trade mgmt

http://www.forexfactory.com/showpost...ostcount=36491

Hope it helps
Mike
  • #92,303
  • Mar 27, 2011 5:07pm Mar 27, 2011 5:07pm
i need some one to help me wih james email address. i tried to fill therequest form on his website but not going. i will post the original message for people to help me...thanks in advance

'Hi james. it's my pleasure to meet you. If you can do me the favour of knowing forex in and out, i will be glad for ever. i am ready to give in whatever it takes but i must confess that the $129 per month is not affordable for me now. if anyhting can be done about that, i will be glad but if not let me still know even if i will borrow it. i want to stop the guess work and do it he real way like you guys do it. i have spent sometimes at the forxfactory james thread and i am convinced that you guys can help me. pls help!
thanks and God bless'

please help me all.
  • #92,304
  • Mar 27, 2011 5:11pm Mar 27, 2011 5:11pm
Hi there bright,

I would strongly suggest asking away at this thread right here for free, at least to start with, you can get as far as you want right here.

regards.
  • #92,305
  • Mar 27, 2011 5:11pm Mar 27, 2011 5:11pm
Quoting brighty3k
i need some one to help me wih james email address. i tried to fill therequest form on his website but not going. i will post the original message for people to help me...thanks in advance

'Hi james. it's my pleasure to meet you. If you can do me the favour of knowing forex in and out, i will be glad for ever. i am ready to give in whatever it takes but i must confess that the $129 per month is not affordable for me now. if anyhting can be done about that, i will be glad but if not let me still know even if i will borrow it. i want to stop the...
Hey Brighty

James has been taking some time to recharge the last few months, so he probably has just not seen it. His email is [email protected] though just for reference.

My recommendation though is not to go strapping yourself. Hang on to your money and hang out here. There is a wealth of info. It may take you longer to go through but don't go strapping yourself for cash and put yourself in a bind. Hang out here ask questions and we have a ton of people who love to help

Take care
Mike
  • #92,306
  • Mar 27, 2011 5:12pm Mar 27, 2011 5:12pm
Quoting Tradelog
I have also been eyeing this for while. Would love to see a pullback on the daily, then a nice bearish PA then go short.

Fingers crossed!

Cheers
TL

Two nice areas to watch TL, let's see what happens

Best
Mike
  • #92,307
  • Mar 27, 2011 7:18pm Mar 27, 2011 7:18pm
Just some obvious areas to watch for PA and possible divergence
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  • #92,308
  • Mar 27, 2011 7:46pm Mar 27, 2011 7:46pm
Quoting Be Cool
So it is...
BTW, on the chart below if one is considering taking the BUOB -where in your opinion the FTA is ? The top or bottom S/R?
fundies or not, u can simply focus on PA.

tricky question & tricky chart.
top or bottom S/R ---- u referring to the 2 pink(?) horizontal lines?

looking exclusively at your chart.
that first pink line @ 42.20area looks like a trouble area. u can try & enter a BUOB break (entry above the first pink line). then u have the 2nd pink line to contend with.

i have never traded stocks, so others (like Sir aserbfx) might have better perspectives.
  • #92,309
  • Mar 27, 2011 8:01pm Mar 27, 2011 8:01pm
Quoting dbeach777
Anyone interested in further analyzing this pair?
Quoting dbeach777
And this Pair
wow, weekly charts.

a bit choppy (specially that gbpusd) & prices are at/near potential trouble areas.
  • #92,310
  • Mar 27, 2011 11:12pm Mar 27, 2011 11:12pm
Quoting ts63
Let's try to catch an upside breakout with a buystop placed above the last 2 daily candles, we don't want to short this pair if another BOJ intervention is in the making, so no sellstops this time. Price alert set. Have a nice day.
Looks like your trade plan is working out , ts. . .nice.

The Support level at the 80.65 was holding up strong. A bar Close below this level would have be telling with an eye at the 80.00 BRN.

The 82.00 should be interesting to watch.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,311
  • Mar 27, 2011 11:40pm Mar 27, 2011 11:40pm
Quoting madboy
This might be a good story to "read".!!!Some inside bars on daily also.
Yeah this is a similar story as the Usd/Jpy . . Double Inside bar. That's what I was looking for the Usd/Jpy to do . .break to the BRN, which the Usd/Chf did to 90.00. . . the 80.00 BRN on the Jpy.

You can see why Mike doesn't trade into BRNs . . its better to WAIT until Price gets to the BRN and then see what story unfolds.

This BUOB may not have been big enough for some to take but it is interesting to note where it formed. At a BRN 90.00 and its low hit the Lowest Close of Support of the Swing Low.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,312
  • Mar 27, 2011 11:44pm Mar 27, 2011 11:44pm
Quoting Ifmyante
Just some obvious areas to watch for PA and possible divergence

I like it, Ifmy . . Excellent area to watch ..
Indicators show the past. Price Action "Indicates" the future.
  • #92,313
  • Mar 27, 2011 11:54pm Mar 27, 2011 11:54pm
Hello All.

I hope you had a great weekend. My trading ideas at the moment. More will be coming but not too many as I out of business from next week on.
Thank you for your reply, it is appreciated. I will pay you back by helping others when I will bein the position.
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Kind Regards zol
  • #92,314
  • Mar 27, 2011 11:55pm Mar 27, 2011 11:55pm
Quoting geniusztc
BUT， not too bad。 because ,this is magic forex .

Its not forex magic, gentiustc. It an understanding of Support and Resistance with some required confluence be it only a trendline. The 4 hour had a bit more confluence at the .8650 as well.

Well done sir. . . .
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Indicators show the past. Price Action "Indicates" the future.
  • #92,315
  • Mar 28, 2011 12:12am Mar 28, 2011 12:12am
Quoting jarroo
Its not forex magic, gentiustc. It an understanding of Support and Resistance with some required confluence be it only a trendline. The 4 hour had a bit more confluence at the .8650 as well.

Well done sir. . . .
thank you for you still remembering my trade .and cheer for my trade .thanks ,good luck .
A chart helps those who can read it.
  • #92,316
  • Mar 28, 2011 12:13am Mar 28, 2011 12:13am
Quoting zoli
Hello All.

I hope you had a great weekend. My trading ideas at the moment. More will be coming but not too many as I out of business from next week on.
Thank you for your reply, it is appreciated. I will pay you back by helping others when I will bein the position.

You have got some good areas mapped out there zoli. I would wait until Price gets to the 1.4000 BRN on the Euro and see what develops there. The Cad/Chf level looks real good too.

The PB on the 4 Hour is to small for me but it is a valid location. A better location would be at the 1.4000 BRN and the 50% ret. level would also be deeper.

I would wait and see what london brings about.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,317
  • Mar 28, 2011 12:47am Mar 28, 2011 12:47am
Quoting Mr Smith
Hi there bright,

I would strongly suggest asking away at this thread right here for free, at least to start with, you can get as far as you want right here.

regards.

Thanks> you have just confirmed what i read about traders helping other at he james thread. what i need is not much. i know you guys have gone farrrrrr, but i need someone who will help me just start my own trading too.
i need a mentor to guide me and to work with
ii am ready to give in what ever it will take in time and reading plus patience. i have done it the other way but failed.

so all i need is someone who will teach me price action pattern and how to trade them successfully.

thanks and God bless
  • #92,318
  • Mar 28, 2011 12:48am Mar 28, 2011 12:48am
Quoting mbqb11
Hey Brighty

James has been taking some time to recharge the last few months, so he probably has just not seen it. His email is [email protected] though just for reference.

My recommendation though is not to go strapping yourself. Hang on to your money and hang out here. There is a wealth of info. It may take you longer to go through but don't go strapping yourself for cash and put yourself in a bind. Hang out here ask questions and we have a ton of people who love to help

Take care
Mike

Thanks> you have just confirmed what i read about traders helping other at he james thread. what i need is not much. i know you guys have gone farrrrrr, but i need someone who will help me just start my own trading too.
i need a mentor to guide me and to work with
ii am ready to give in what ever it will take in time and reading plus patience. i have done it the other way but failed.

so all i need is someone who will teach me price action pattern and how to trade them successfully.

thanks and God bless
  • #92,319
  • Edited 4:08am Mar 28, 2011 12:58am | Edited 4:08am
Quoting minos.niu
Hi all,

Any comments on this PBT/CA? It looks like a good bullish pattern but failed. I couldn't find a helpful thread on this price break through pattern. Can any one show me some tutorials? Thanks!
Yes, this was a good level to look for bullish PA once Price Broke Through and Close Above the Highest Close of Resistance at the 1.6325.

Price came back a didn't hold as Support and then PBT&CBelow. ..we would then look for this area to now act as Resistance. But Price was on a tear last week.

We can look at the lower time frames and see if there are other confluences and/or PA that fits into these levels.

You can see back at the beginning of the Month, there was a similar setup on the Daily. On the 4 hour, a BUOB formed at this level . .the target was close but it was hit nicely.
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Indicators show the past. Price Action "Indicates" the future.
  • #92,320
  • Mar 28, 2011 1:09am Mar 28, 2011 1:09am
Quoting aserbfx
buob in continuation with the main trend.
ymm h4.

These are great when the Outside Bar engulfs the total consolidation area and closes above (or below) no matter what the time frame, the higher the time frame the better of course. . No surprise why that PB didn't break.

These are A+ setups to me . ..
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Indicators show the past. Price Action "Indicates" the future.
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