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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

  • #97,001
  • Jun 21, 2011 9:14am Jun 21, 2011 9:14am
Quoting Knight Rider
As above.
lol

There we go again.

Replace the 'B' in Boss by 'G' - - > Goss.

g.
I believe . . .
  • #97,002
  • Jun 21, 2011 9:16am Jun 21, 2011 9:16am
Quoting Knight Rider
As above.
Apologies, excellent post "Ghous", although I still think this pair wants to go higher.
  • #97,003
  • Jun 21, 2011 9:20am Jun 21, 2011 9:20am
Quoting Knight Rider
Apologies, excellent post "Ghous", although I still think this pair wants to go higher.
That's perfectly ok,

The post was regarding the PA setup that was taken, wasn't commenting on my general take on the pair.

heck it can shoot to the moon if it wants too, betting on it though based on a poor BUOB is what I was pointing out.

Its good to have you with the group KR,



g.
I believe . . .
  • #97,004
  • Jun 21, 2011 9:29am Jun 21, 2011 9:29am
Quoting ghous
That's perfectly ok,

The post was regarding the PA setup that was taken, wasn't commenting on my general take on the pair.

heck it can shoot to the moon if it wants too, betting on it though based on a poor BUOB is what I was pointing out.

Its good to have you with the group KR,



g.
Is it okay to say that i would have entered around 1.4344 at the close of the m15 BUOVB (and at that time there was a hidden bullish divergence on m15 and PA crossed the EMA 47) ? Thx
  • #97,005
  • Jun 21, 2011 9:31am Jun 21, 2011 9:31am
Quoting Knight Rider
I meant the daily eur/usd (16 June 2011). Thanks for getting back though - it was my fault - I replied on the back of your chart which was unrelated to this pair.

I was suggesting there were a few good set ups (price action) which could of put some people into profitable trades.

Best
KR

Oh, it was the EUR/USD pair

Here you go.
Just what went through my head when I saw it.
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  • #97,006
  • Jun 21, 2011 9:38am Jun 21, 2011 9:38am
Quoting ghous
That's perfectly ok,

The post was regarding the PA setup that was taken, wasn't commenting on my general take on the pair.

heck it can shoot to the moon if it wants too, betting on it though based on a poor BUOB is what I was pointing out.

Its good to have you with the group KR,



g.
Well thank you very much.

I thought what you mentioned about the close of the bar being higher was crucial. I saw a few other bars earlier which didn't have the same characteristics. I was suspicious of them too.

I have read so many comments on Forex Factory and to be quite honest, I think if somebody knows something important, just come out and say it in plain English. Is anyone really giving away trade secrets?

I mean even if somebody mentioned a good method with a proven edge, I wonder how many people (risk, utility, discipline etc.) could trade it profitably, so what's the problem?

KR
  • #97,007
  • Jun 21, 2011 9:42am Jun 21, 2011 9:42am
Quoting Pinbar
Oh, it was the EUR/USD pair

Here you go.
Just what went through my head when I saw it.
Right, I'm with you. I saw a few things on this pair (including an inside daily bar) and saw some potential early on. I see now how you guys consider these other issues.

Soloman mentioned something about knowledge didn't he. I would have to agree with him.

Well done to Bemac for mentioning this thread.

KR
  • #97,008
  • Jun 21, 2011 9:49am Jun 21, 2011 9:49am
Well I'm pleased about the Rio trade I did yesterday (and others too).

I would expect Australia will make same mistake as the US did under Volckner. Until then, a boon for Australia I would suggest. Interest rates hikes are associated with healthy economies (bull markets), not lower interest rates as some people believe are good for stocks.
  • #97,009
  • Jun 21, 2011 9:55am Jun 21, 2011 9:55am
Quoting Pinbar
Oh, it was the EUR/USD pair

Here you go.
Just what went through my head when I saw it.

What do you mean by that last sentence : " It just not add up to a setup in my mind these days. It would have not so long ago".
Do you mean that pinbar isn't a valid one according to the long bearish previous bar ?
Thanks, great thread, great people in here!
  • #97,010
  • Jun 21, 2011 10:09am Jun 21, 2011 10:09am
Quoting huskyboy
Is it okay to say that i would have entered around 1.4344 at the close of the m15 BUOVB (and at that time there was a hidden bullish divergence on m15 and PA crossed the EMA 47) ? Thx
For one we wait for the break of our PA setups before we jump in. While the M15 doesn't allow you to place a stop order you could manually wait for price to pop above the high of the BUOB.

Secondly divergence, MAs and fibs are secondary factors that can only strengthen or weaken a setup to a certain extent. They should never have the autonomy to validate or invalidate our trade setups. The primary factors are of course the PA bar itself, the location in terms of RNs, PPZs, trend etc, and spatial concerns. The secondary factors are mere toppings on the cake.

That said the M15 BUOB had slightly more space than the 1H or put it this way it would have at least allowed you to take some profit off those highs or move the stop to BE, but really being new to the stuff, you are not expected (actually discouraged) to attempt your fate on time frames as low as the M15, it specializes in mutilating inexperienced traders. Like Mike said have you gone through the outline on page 1?

g.
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I believe . . .
  • #97,011
  • Jun 21, 2011 10:16am Jun 21, 2011 10:16am
Quoting Knight Rider
Well thank you very much.

I thought what you mentioned about the close of the bar being higher was crucial. I saw a few other bars earlier which didn't have the same characteristics. I was suspicious of them too.

I have read so many comments on Forex Factory and to be quite honest, I think if somebody knows something important, just come out and say it in plain English. Is anyone really giving away trade secrets?

I mean even if somebody mentioned a good method with a proven edge, I wonder how many people (risk, utility, discipline etc.) could...
Spot on KR,

Most of the ones with the real edge are busy using it, they don't have to stop by a public forum and spend hours and hours answering e-mails, pms and posting around.

The ones that do it, purely out of their good hearts, do it in plain and simple language.

making it look like voodoo, or the tip of the ice berg is really just a marketing tactic used by those who can't make money trading.

Nothing about trading is complicated, in fact its the simplicity that most will never be able to get accustomed to.

g.
I believe . . .
  • #97,012
  • Jun 21, 2011 10:24am Jun 21, 2011 10:24am
Quoting ghous
Spot on KR,

Most of the ones with the real edge are busy using it, they don't have to stop by a public forum and spend hours and hours answering e-mails, pms and posting around.

The ones that do it, purely out of their good hearts, do it in plain and simple language.

making it look like voodoo, or the tip of the ice berg is really just a marketing tactic used by those who can't make money trading.

Nothing about trading is complicated, in fact its the simplicity that most will never be able to get accustomed to.

g.
Simplicity, where ?

Thanks all
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  • #97,013
  • Jun 21, 2011 10:26am Jun 21, 2011 10:26am
Quoting Pinbar
Oh, it was the EUR/USD pair

Here you go.
Just what went through my head when I saw it.
Nice chart PB...I was a little PO'd at myself for not taking that bar after it took off. I looked at it again a couple of days later and realized that was the right decision for my trading style...

Now if it had pulled all the way back to the 1.4000 BRN and the 150 ema.....
  • #97,014
  • Jun 21, 2011 10:27am Jun 21, 2011 10:27am
Quoting huskyboy
Simplicity, where ?

Thanks all
.
I believe . . .
  • #97,015
  • Jun 21, 2011 10:38am Jun 21, 2011 10:38am
The market moves before the news. Quite a good indicator I would suggest.

Now, I'll probably be up tonight watching the outcome of Greece. Will probably smash a plate or two in doing so! You gotta suspect it is a done deal though, haven't you?

KR
  • #97,016
  • Jun 21, 2011 10:39am Jun 21, 2011 10:39am
....are we not Gladiators?
  • #97,017
  • Jun 21, 2011 11:15am Jun 21, 2011 11:15am
Quoting ghous
The secondary factors are mere toppings on the cake.
g.
i like that.
or maybe pizza toppings?

Goss with its Gloss on his post.
  • #97,018
  • Jun 21, 2011 12:22pm Jun 21, 2011 12:22pm
You guys are great support. I know I dont post much, lurking most of the time really but I have learned so much from you guys that I had to say thanks. I started with a $50 account about 2 months ago and I just surpassed the $520 mark when I closed my Eur/Usd trade on the latest pinbar. I dont like talking about money but I just wanted to show people that with discipline you can succeed in this business.

Thanks again, James16 and all the supporting pro members.
  • #97,019
  • Jun 21, 2011 12:38pm Jun 21, 2011 12:38pm
while exercising the necessary virtue of patience in waiting for the markets to set up I went back through some old posts in the thread from 3 years ago from the likes of James, Jarroo and Mike etc. Great stuff and as relevant as ever: PA, PPZ, Conluence. As relevant now as it was then and a great thing to do when having some 'down time'.
  • #97,020
  • Jun 21, 2011 2:46pm Jun 21, 2011 2:46pm
Quoting thermobee
... I started with a $50 account about 2 months ago... just wanted to show people that with discipline you can succeed in this business.
....
Excellent thermobee!
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