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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

  • #95,461
  • May 19, 2011 12:04am May 19, 2011 12:04am
AUD/JPY is at an intereting area of confuence with the 50% ret and 87.00 RN, 150 EMA is there as well on the 4H
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Anything can happen.
  • #95,462
  • Edited 3:56am May 19, 2011 1:33am | Edited 3:56am
Euro / Singapore Dollar was just added to Oanda fxTrade. Strong daily close above that lvl would be nice.
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  • #95,463
  • May 19, 2011 1:52am May 19, 2011 1:52am
Hey guys, this is the one im looking at tonight. Dont know if it would be considered an A+ entry. But it has my interest. We have a FBO at a PPZ zone with a close above the 150ma. I want to post to see what the experienced traders think.

http://img846.imageshack.us/img846/5679/ucf.gif
  • #95,464
  • May 19, 2011 1:54am May 19, 2011 1:54am
Quoting Greenhaze
Euro / SGD was just added to Oanda fxTrade. Strong daily close above that lvl would be nice.
& a few more pairs:
http://forexmagnates.com/oanda-adds-more-currency-pairs/
  • #95,465
  • May 19, 2011 5:52am May 19, 2011 5:52am
Quoting Valinn
Hello guys, I took my first trade last night using the advice of this thread. I have been trading Break/Retest (what you call PPZ) for quite some time now, but I was taking them blindly. Just setting pending orders in areas where I was looking for a PPZ. With the help of this thread, I was able to pinpoint what i was doing wrong 1) Not using PA in conjunction with my trades and 2) Not being patient and taking the best set ups. Below is my trade I took last night on the G/U that netted me 65 pips.

http://img823.imageshack.us/img823/919/1gu.gif...
Hey Valinn

Well spotted there! In my opinion this was a reasonably good setup because you were trading with the trend!! PA off a ppz is always going to have a good chance of working out so well done there!! For your information I missed it but would have been tempted!!

Kal
  • #95,466
  • May 19, 2011 5:56am May 19, 2011 5:56am
Buob closing above good looking level. Did its retest yesterday.

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potential breakout.

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  • #95,467
  • May 19, 2011 6:08am May 19, 2011 6:08am
One to watch!
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  • #95,468
  • May 19, 2011 6:51am May 19, 2011 6:51am
Quoting 4FXsake
One to watch!
Twin setup on eur/jpy which is just testing the support.
  • #95,469
  • May 19, 2011 7:03am May 19, 2011 7:03am
comments?
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  • #95,470
  • May 19, 2011 7:04am May 19, 2011 7:04am
Quoting pex
comments?
buy low sell high -

buy as long as demand level holds.stops just below the demand zone.

seems to be a sticky one.

no time to monitor right now...will post my chart later to give ya a heads up.

its always cool to have different views

kindest regards
Jonas
Hero calls followed by margin calls...
  • #95,471
  • May 19, 2011 7:15am May 19, 2011 7:15am
Quoting
buy low sell high -

buy as long as demand level holds.stops just below the demand zone.

seems to be a sticky one.

no time to monitor right now...will post my chart later to give ya a heads up.

its always cool to have different views

kindest regards
Jonas
thx PhAnTi'
just to add that tail is from RN 1.6
demo it just to folow....
  • #95,472
  • May 19, 2011 7:20am May 19, 2011 7:20am
Well another profitable trade I took today. Being 5th winner in a row!

Exited as I saw this 0.8850 RN (which is also a minor PPZ).
I have a feeling it can go further, but don't want to take any chances.

Not caring about RR and just taking money at SR gave me 5th winner in a row
or about 1.7R total gain...

Is this a way to trade? Still just 2 losers will wipe out these 5 winners...
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  • #95,473
  • May 19, 2011 7:58am May 19, 2011 7:58am
Quoting Greenhaze
Twin setup on eur/jpy which is just testing the support.
There are high prob setups on m5 aswell (backed by strong h1 support anyway) . Its good to play those with very low risk at the beginning just to practice trade management. Quick and nice play that was.
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  • #95,474
  • May 19, 2011 8:01am May 19, 2011 8:01am
Quoting Valinn
Hey guys, this is the one im looking at tonight. Dont know if it would be considered an A+ entry. But it has my interest. We have a FBO at a PPZ zone with a close above the 150ma. I want to post to see what the experienced traders think.
Hey V

On your chart at that time, that would still be a BUOB(bullish outside bar). But notice how it ended up closing on my chart below. That's the real key to this one

Best
Mike
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  • #95,475
  • May 19, 2011 8:30am May 19, 2011 8:30am
Quoting Adilius07
Well another profitable trade I took today. Being 5th winner in a row!

Exited as I saw this 0.8850 RN (which is also a minor PPZ).
I have a feeling it can go further, but don't want to take any chances.

Not caring about RR and just taking money at SR gave me 5th winner in a row
or about 1.7R total gain...

Is this a way to trade? Still just 2 losers will wipe out these 5 winners...
Way to go Adi, 5 in a row not bad If you trade like that, close to the hip that is, that means you should be cutting your losses quickly too(remember my post from last time?)

Keep it up

Mike
  • #95,476
  • May 19, 2011 8:33am May 19, 2011 8:33am
Quoting Adilius07
Well another profitable trade I took today. Being 5th winner in a row!

Exited as I saw this 0.8850 RN (which is also a minor PPZ).
I have a feeling it can go further, but don't want to take any chances.

Not caring about RR and just taking money at SR gave me 5th winner in a row
or about 1.7R total gain...

Is this a way to trade? Still just 2 losers will wipe out these 5 winners...
Hey Adilius

Nice trade .... 5 in a row is the way to go man!! Well done. Taking profit at SR is I believe the way to success as many J16ers will tellyou!!

Kal
  • #95,477
  • May 19, 2011 8:49am May 19, 2011 8:49am
Thanks Mike and Kal, yes now I need to learn to reduce the risk quickly!

Thanks!
Adi
  • #95,478
  • May 19, 2011 9:14am May 19, 2011 9:14am
Quoting Adilius07
Well another profitable trade I took today. Being 5th winner in a row!...
Is this a way to trade? ..
why not?
who knows this could be a start of a 'trend'.
test it further, see how comfortable u are trading this way.

nice job
  • #95,479
  • May 19, 2011 9:25am May 19, 2011 9:25am
hello,
i would like to share my failed trade..i took a small loss
i took this DBHLC setup
CB 0.88 was wt i was looking for
i only prefer EMAs on Daily n Weekly but since it came of two PPZs(yellow ones),i liked the 150 EMA as well(being kinda subjective here)

my entry was 0.88...TP 0.8770..but to my surprise it didn't even reach its FTA..
i was looking for js a short 30pip profit(i remember Jarroo once said A+ setups range from 30pips to 3000pips,so i didn't mind)

i closed the trade manually as 0.88 looks strong now n i have no hopes..

i would like to hear comments from Mike n Ghous as to where i went wrong,comments from others are welcomed of course!!
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  • #95,480
  • May 19, 2011 9:29am May 19, 2011 9:29am
Quoting supremeChaos
why not?
who knows this could be a start of a 'trend'.
test it further, see how comfortable u are trading this way.

nice job
Hi SC,

Yes feels very much comfortable, especially when I realize that I KNOW where the price is going (ok that's being cocky after a few winning trades).

If seriously, I really like the way price hits its FTA with such a high probability. So now, like Mike said, all I need is to learn to reduce risk. And maybe that will be my favorite style. This month I will continue this approach and will report back with my results.
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