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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

  • #95,221
  • May 12, 2011 3:31am May 12, 2011 3:31am
Quoting g_j_hook@yah
FTA reached....

jon
Nice Jon, I wonder how this will play out.

Just out of curiosity, how did you physically execute/manage this one? I assume we're in the same time zones?

I placed my sell order and take profits at 23:00GMT. I didn't want to scale out of something I can't follow. Woke up to a larger account size Did you do the same?

Tomek
  • #95,222
  • May 12, 2011 5:20am May 12, 2011 5:20am
Quoting mbqb11
Hey Dave

Looks like its down there, I will get this up on the guest section for you guys soon so I know it will remain there

Thanks
Mike
Much appreciated, Mike.

Thanks very much again, sir.

Regards
  • #95,223
  • May 12, 2011 5:46am May 12, 2011 5:46am
Quoting 5.25
Nice Jon, I wonder how this will play out.

Just out of curiosity, how did you physically execute/manage this one? I assume we're in the same time zones?

I placed my sell order and take profits at 23:00GMT. I didn't want to scale out of something I can't follow. Woke up to a larger account size Did you do the same?

Tomek
Hey Tomek, well done mate, played it well imho.
i didnt take it in the end purely because i would not have had the time to watch it today. i could have set a "set and forget" order but then i could have faced a full bar loss this morning/today (which i wouldnt have done had i been there to watch the PA) and the target was a little close giving a low r:r for me to take it blind. i would have played it the same as you though, all in and out at the FTA. I dont think the aussie is anything near as weak as the euro and gb seems to be right now against the usd.??

jon
PATIENCE... DISCIPLINE
  • #95,224
  • May 12, 2011 5:54am May 12, 2011 5:54am
Mee too, got out with a small profit on this GBPAUD daily setup.
I didn't like that strong rejection off PPZ-BRN and price not able to hold above 1.54 RN.

Still better than BE... I think
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  • #95,225
  • May 12, 2011 6:01am May 12, 2011 6:01am
Quoting Adilius07
Mee too, got out with a small profit on this GBPAUD daily setup.
I didn't like that strong rejection off PPZ-BRN and price not able to hold above 1.54 RN.

Still better than BE... I think
nice Adi..
im short this pair from that PPZ. it printed a 4h IB there where you took profit. Im trading into a minor PPZ and price is hovering around my entry price now so watching closely...??

jon

EDIT: added charts
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PATIENCE... DISCIPLINE
  • #95,226
  • May 12, 2011 6:06am May 12, 2011 6:06am
Quoting g_j_hook@yah
nice Adi..
im short this pair from that PPZ. it printed a 4h IB there where you took profit. Im trading into a minor PPZ and price is hovering around my entry price now so watching closely...??

jon

short looks more likely to me too on H4, but there is still that daily BUOB??
Too scary for me to go either way..
  • #95,227
  • May 12, 2011 6:15am May 12, 2011 6:15am
Quoting Adilius07

short looks more likely to me too on H4, but there is still that daily BUOB??
Too scary for me to go either way..
yeah its not the best setup but im with the trend and gonna baby sit it..
missed the 4h BUOB what started the swing up

jon
PATIENCE... DISCIPLINE
  • #95,228
  • May 12, 2011 7:12am May 12, 2011 7:12am
Quoting g_j_hook@yah
yeah its not the best setup but im with the trend and gonna baby sit it..
missed the 4h BUOB what started the swing up

jon
Good trade!
  • #95,229
  • May 12, 2011 7:26am May 12, 2011 7:26am
Quoting Adilius07
Good trade!
hit FTA. put stop to BE. targeting 1.5250....

took a quick eu/au scalp. pure breakout setup... half of at FTA and put a trailer on it.
these and a eu/us short earlier this week are my only live trades this week.

LOVING SILVER!!

jon
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PATIENCE... DISCIPLINE
  • #95,230
  • May 12, 2011 10:55am May 12, 2011 10:55am
Quoting minos.niu
Hi all,

I demoed for 3 months mainly for convergence & breakouts. I did demo trade several boxings successfully. But now in my early live trading I'm painfully losing trades.

Can some one direct me to a good thread on how to trade boxings? Also my broker doesn't allow OCO orders, this may or may not be important.

Thanks!
I'm more or less in the same situation; demoed(not all the time) last 2 years. Tried countless systems, none really worked. Ended up tradin' support and resistance without much else on the graphics("boxes" that is). Which worked; quite ok.

but last month, contrary to the famous 95% of the time when the market is ranging, the market trended disgustingly good. Personally, I have no clue what to do in a trending market since I have problems seeing where the action will stop, so I'm unable to come up with pleasing R:Rs for my taste. That was complicated by historical all time lows/highs, which really left me blind. In a hindsight(ok, I'm lying, I knew perfectly well even when I was doing it that I had no point) probably I should've stayed on the sides if I had no clue; but then, I'm not that wise... End result - I've mostly lost.

now, apparently it's back to "boxes"(albeit bigger ones, but that's easy, you just have to readjust sizes)... Though the stress after a losing streak complicates things abit.
  • #95,231
  • May 12, 2011 11:42am May 12, 2011 11:42am
OMG so many posts coming out latley i can barely folow

tooday i only took this one on daily it could be a touch trade but i personaly took it coz of BEOB on 4H chart .
First FTA i hope should be around 0.8800 and hope it drops thu like a rock
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  • #95,232
  • May 12, 2011 12:36pm May 12, 2011 12:36pm
i have this feeling that the big players feasted on the stops of (including) those who traded the May 10 eurjpy Daily BUOB.
if im right, & if 115.00 holds as support today/this week (ideally we end the week at/above 116), i think we'll see 117.00 - 120.00 (at worse we go consolidate) next week.
(FWIW, im bullish eurjpy until i see a convincing break of 113 - 114.00)

let's see.
have a (early) great weekend all

Quoting snowly
I'm ... Personally, I have no clue what to do in a trending market since I have problems seeing where the action will stop, so I'm unable to come up with pleasing R:Rs for my taste. That was complicated by historical all time lows/highs, which really left me blind...
hello snowly,
this was the same problem i had prior learning about using S/R.
S/R will help u determine & gauge where price might stop, & whether price will break through or stall on certain areas.
i recommend u to learn about S/R, & read this thread.

btw, trend days are the best & worst (depending on your experience) times to trade. so be opportunistic & careful.
  • #95,233
  • May 12, 2011 12:54pm May 12, 2011 12:54pm
Quoting FxPrelude
OMG so many posts coming out latley i can barely folow

tooday i only took this one on daily it could be a touch trade but i personaly took it coz of BEOB on 4H chart .
First FTA i hope should be around 0.8800 and hope it drops thu like a rock

looks good actually....
Many choose unhappiness over uncertainty.
  • #95,234
  • May 12, 2011 1:26pm May 12, 2011 1:26pm
Quoting Dan Gilbert
Awesome, I don't even look at those types of pairs anymore.


I'm assuming you're out at 1.55?

love you Mike.
haha love you too buddy

Bit slower this week here sick with a sinus infection kicking my ass so trying to keep up with the PF

I am still in this one I was waiting to see how to day closed after such a strong pop. Looks like I might close at day end unless we close above the rd number 5300

Took a b/e out on cad/jpy 8hr beob as well. Pretty much the theme of the month for me so probably should have taken my profit here as well.

Sorry for the late response

Mike
  • #95,235
  • May 12, 2011 1:26pm May 12, 2011 1:26pm
Quoting supremeChaos
hello minos niu,
it's showing bullish divergence: price made a lower low but the indicator (MACD in this chart) made a higher low

http://www.babypips.com/school/divergence-trading.html
Thanks SC buddy
  • #95,236
  • May 12, 2011 1:28pm May 12, 2011 1:28pm
Quoting Pinbar
Thanks Mike.

I figured we can throw previous bearish bar size out the window with such confluence, although somehow I didn't like it.
Maybe if we had had divergence, I would have taken it live.
I also understand it was just one that failed and that this can happen and is not a reflection of the methodology.
You are quite right steve

I had marked up that area as far back as last year so I have been watching that "box" like a hawk. The PA wasn't the best of the best as you said with the bearish action, but was sure good enough.

Happy to take my half bar loss and move on.

This is a month where 3-4 years ago I might be down 5-6% instead of around 1% now. This is where really cutting your losses has paid off for me.

Thanks for your comments steve

Mike
  • #95,237
  • May 12, 2011 1:30pm May 12, 2011 1:30pm
Quoting jarroo
That would be nice . . just a "hello" and a chart or two .. lol


Success can be very quiet .. but it can also be loud and fun .. lol
Hello! And a chart.

Who needs candles these days, huh?
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  • #95,238
  • May 12, 2011 1:30pm May 12, 2011 1:30pm
Quoting 5.25
I love waking up to a winning trade in the morning
Beautiful bud peeled it right off my desktop(or maybe me from you )

S/R is killer
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  • #95,239
  • May 12, 2011 2:01pm May 12, 2011 2:01pm
Quoting mbqb11
Beautiful bud peeled it right off my desktop(or maybe me from you )

S/R is killer
Took full profit at the dotted orange line too. Really one of those classic moves.

I'm thinking this can be turned into a long trade if PB forms with price closing above the 23% fib ret + 1.0700 RN. What do you guys think?
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  • #95,240
  • May 12, 2011 2:10pm May 12, 2011 2:10pm
Quoting biDc
Took full profit at the dotted orange line too. Really one of those classic moves.

I'm thinking this can be turned into a long trade if PB forms with price closing above the 23% fib ret + 1.0700 RN. What do you guys think?
Hey B

I am not too convinced of anything right now, the way the markets are. Things look like they may close weak across some of this late snap back which could mean more selling. I would need to see a strong close above the top dotted line to even think it's worth buying. A weak close to me looks like a guy hanging onto a cliff edge with one hand. A much stronger area for a longer term thought process would be the lower dotted line


Best
Mike
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