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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

  • #98,841
  • Jul 18, 2011 11:50pm Jul 18, 2011 11:50pm
Quoting Bemac
Haggis & Sheep & William Wallace & Robert the Bruce (My avatar btw) & whatever else you consider to be Scottish.
I pleade Guilty. For I am. Scottish.

PB.This post may appear to be somewhat harsh toward you but it is merely me warming my chords to scream "Freedom"
Sad but true. Money let's you choose. & That is Freedom.

B

I hear you B.

Take it you you do not have a lot of affection for the OC.

NP

Me neither.
  • #98,842
  • Edited 1:04am Jul 19, 2011 12:49am | Edited 1:04am
Quoting gungriffin
Guess you just have to be nice to Lorena Joel....
Nope. Show me that setup a hundred times, I'll pass a hundred times. Never claimed to know which was price was going to go, just that there wasn't enough information to make an informed call. Hence, an easy miss.

Quoting krue
well, mike, the answer not satisfying

keep up good work intrepreting hindsight price action.
I AM NOT HAPPY WITH YOUR FREE ADVICE YOU QUICKLY PROVIDED IN ANSWERING A QUESTION THAT I ASKED, NOR DO I HAVE ANYTHING TO CONTRIBUTE OR ANY KIND OF OPINION OR ANALYSIS OF MY OWN. JERK!

Wow. Looking forward to your next winning contribution.
When you have to shoot, shoot. Dont talk.
  • #98,843
  • Jul 19, 2011 1:27am Jul 19, 2011 1:27am
Quoting 5.25
......
Will I be trading the same % on my live account. No.
please don't take this the wrong way, i have been following this gr8 thread for over 2 years and i rarely post here, but i just have to b'cos i have been in ur shoes...
if you are demo-ing what you are'nt gonna do in real account then it doesn't make a lot of sense to me. you are still going to be subject to nervousness when u go live.
the aim of demo-ing is to overcome some of these emotions.
congratulations on your stats so far, but ... keep it real.
  • #98,844
  • Jul 19, 2011 1:41am Jul 19, 2011 1:41am
Quoting mbqb11
with you Pin, here was my chart

http://www.forexfactory.com/showthre...26#post4789826

Best
Mike
Thanks Mike and Pin for your insight. I am sticking to trade with the trend to increase the probability and would have burnt myself in this case. Appreciate your points.

In this case, would you wait for move below that trend line and retest before shorting?

Always appreciate you sharing your thoughts. Learning a lot.

cheers
  • #98,845
  • Edited 2:37am Jul 19, 2011 2:00am | Edited 2:37am
Well defined Double Bottom on USDCHF. Strong impulsive buying is a good sign. Blue rectangle might work as a strong support on the retest. 0.8282 on the other hand looks like a no brainer level to go short with very tight stop. OK..... now i'm in on the retest.
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  • #98,846
  • Jul 19, 2011 2:12am Jul 19, 2011 2:12am
chart

http://img828.imageshack.us/img828/8896/23090696.gif
  • #98,847
  • Jul 19, 2011 2:17am Jul 19, 2011 2:17am
Quoting Valinn
chart

http://img828.imageshack.us/img828/8896/23090696.gif
Hi Valinn

Those daily highs around 1.5075 might work as an obstacle. Something that should be kept in the back of the mind i think.

Gh
  • #98,848
  • Jul 19, 2011 2:27am Jul 19, 2011 2:27am
Quoting mbqb11
just some of my thoughts,

not to discourage anyone of course

Best
Mike
I assume you mean as a FTA the bar highs that failed?
  • #98,849
  • Jul 19, 2011 2:27am Jul 19, 2011 2:27am
Quoting Greenhaze
Hi Valinn

Those daily highs around 1.5075 might work as an obstacle. Something that should be kept in the back of the mind i think.

Gh
I agree, going to monitor it closely and will most likely be at B/E by then
  • #98,850
  • Jul 19, 2011 2:40am Jul 19, 2011 2:40am
Quoting Pinbar
Looks like a good support area to me.
at first, i thought it was the Chinese character 'chong' (as in 'Chong Kwo' or China)... but then i realized what u drew was a pinbar.
Quoting Chelski
I assume you mean as a FTA the bar highs that failed?
i think so, yes.
also primarily watch 0.8800 on the way up, in case...
  • #98,851
  • Jul 19, 2011 2:42am Jul 19, 2011 2:42am
Quoting AvanishDemo
GBPJPY:
Price has now CB 1.27 with a late NY session BEOB on H4.
i would like to see furthur push tommorow..
so far i hav reduced my risk..bt still keepin the exposure for price to move..
still lot to do for the price to move till the destination..
lets see..so far trade is +ve
curiously watching..
looks like Price is not going my way..shit happens,
i wil quickly get out of the trade in a while..if things started looking more fishy
or maybe i entered a bad IB..
Setup :daily IB
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  • #98,852
  • Jul 19, 2011 2:50am Jul 19, 2011 2:50am
Quoting AvanishDemo
looks like Price is not going my way..shit happens,
i wil quickly get out of the trade in a while..
or maybe i entered a bad IB..
Setup :daily IB
i think u traded against what i view as a potential (current) upmove (towards 128 - 132 area).
also, u might have failed to notice FTA around 126.70?
IB's are quite tricky to trade..

if i were in this trade, i'd exit now. or wait for a retracement back to 127 & exit, or if u want reduce position & see PA around 128 & decide accordingly.
just my view...
  • #98,853
  • Jul 19, 2011 2:54am Jul 19, 2011 2:54am
Quoting supremeChaos
i think u traded against what i view as a potential (current) upmove (towards 128 - 132 area).
also, u might have failed to notice FTA around 126.70?
i m aware abt 126.70 FTA on H4..bt i was hoping for the price to act as resistance on 127..
bt H4 i js use it as an information.. n not that literally..
daily on daily..
h4 on h4
EDIT: i got out of the trade
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  • #98,854
  • Jul 19, 2011 2:56am Jul 19, 2011 2:56am
Quoting Imphilomath
Thanks Mike and Pin for your insight. I am sticking to trade with the trend to increase the probability and would have burnt myself in this case. Appreciate your points.

In this case, would you wait for move below that trend line and retest before shorting?

Always appreciate you sharing your thoughts. Learning a lot.

cheers
Hey, Imphi

Please don't mention me in the same breath as Mike! LOL

I don't like this whole area and if we take a look at it with the line chart on the weekly TF, which is only looking at the close of the candles, we can see that, we have already had a weekly candle close below this TL.

I think if you were going to short off this TL and into the PPZ below, you would want to see a further breakdown and pullback with some very definitive bearish PA.

Just my two Yuan. LOL
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  • #98,855
  • Jul 19, 2011 2:59am Jul 19, 2011 2:59am
Quoting AvanishDemo
i m aware abt 126.70 FTA on H4..but i was hoping for the price to act as resistance on 127..
...
since it didnt, what is your current plan?
as of writing, IMHO, 127 is more likely to act as support. (if it doesnt, then good for your trade)
& price is more likely to revisit 128 first then 126 (which i think your TP is)
again just my view.

edit: just saw your post edit
  • #98,856
  • Jul 19, 2011 3:05am Jul 19, 2011 3:05am
Quoting supremeChaos
since it didnt, what is your current plan?
as of writing, IMHO, 127 is more likely to act as support. (if it doesnt, then good for your trade)
& price is more likely to revisit 128 first then 126 (which i think your TP is)
again just my view.

edit: just saw your post edit
i had no choice,i was not sure wats gonna happen..
with rising volumes..i dont wana risk
so i got out..
wat do u think was it a tradable IB?
i see James took a TT here at 128(if u chk James latest posts) n "might" hav used IB as an info. that price has chance moving down..
anyways,no worries
  • #98,857
  • Jul 19, 2011 3:14am Jul 19, 2011 3:14am
Quoting AvanishDemo
i had no choice,i was not sure wats gonna happen..
wat do u think was it a tradable IB?
i see James took a TT here at 128 (if u chk James latest posts) n "might" hav used IB as an info. that price has chance moving down..
i just checked it.
his entry was around 128 (that's about a 100-pip difference with your entry), so there are several possibilities, IMHO:
he's probably out.... or at BE with some profit taken.
  • #98,858
  • Jul 19, 2011 3:25am Jul 19, 2011 3:25am
Quoting supremeChaos
i just checked it.
his entry was around 128 (that's about a 100-pip difference with your entry), so there are several possibilities, IMHO:
he's probably out.... or at BE with some profit taken.
K thanks SC..
dats ok if i gt a loss even if it wuld hv been real money

oh i see it was an i4b look..maybe nt the best of it
well,uh-oh i dont see Dan Gilbert posting these days..
  • #98,859
  • Jul 19, 2011 3:51am Jul 19, 2011 3:51am
Quoting AvanishDemo
K thanks SC..
dats ok if i gt a loss even if it wuld hv been real money

oh i see it was an i4b look..maybe nt the best of it
well,uh-oh i dont see Dan Gilbert posting these days..
hey Avanish, if you had let the bar beak you would not be in the trade. until it does you are pretty much guessing...

jus my view bro

jon

EDIT: i think J16s trade was purly based on the retest of the PPZ. an IB was pretty much inevitable simply due to the bar close times and the time price did what it did. i dont think it was part of his plan...???
PATIENCE... DISCIPLINE
  • #98,860
  • Jul 19, 2011 3:56am Jul 19, 2011 3:56am
Quoting g_j_hook@yah
hey Avanish, if you had let the bar beak you would not be in the trade. until it does you are pretty much guessing...

jus my view bro

jon
hey jon i assume u were talkin abt break of IB..n not the yesterdays bar
yes IB did break..
IBs bar low:127.15
entered at :126.95
20 pip buffer..
heres a chart
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