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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

  • #99,141
  • Jul 22, 2011 10:17am Jul 22, 2011 10:17am
Quoting featurelion
lol doesnt mean green or red . previous bar closing is 1.1750 if current candle close below this then a strong bearish pinbar
i know that but becuase that was the open thats the easy way to tell the difference on this certain trade lol
  • #99,142
  • Jul 22, 2011 10:20am Jul 22, 2011 10:20am
Quoting deankenny21
i know that but becuase that was the open thats the easy way to tell the difference on this certain trade lol
  • #99,143
  • Jul 22, 2011 11:06am Jul 22, 2011 11:06am
Oh man I tell you... don't you even try this MARTELL cognac.. I thought to experiment and cheated on my weekend Hennessy.. and now I just cannot see the candles on my chart, all blury... (((

I speak from the experience now...
  • #99,144
  • Jul 22, 2011 11:17am Jul 22, 2011 11:17am
Quoting thermobee
For me personally I would like it under the 1.1770 and the way it looks right now, it should be good. I really like setups like this one where the wick is at the 50% fib and it closes under the 38.2%. Personally for me, this might be a long term trade for both the Eur/chf and the Gbp/chf. Ive been looking for a while to get a nice entry short and keep it long term and this might be my chance.
It all looks pretty on the hart but the thing that worries e about this partiular setup is the ajor step forward in Greee debt ase and io assiely oerbought swiss urreny yes I spilled wine on y keyboard
  • #99,145
  • Jul 22, 2011 11:22am Jul 22, 2011 11:22am
Quoting deankenny21
yea good point. Its just that there could be pakistanis on here trading forex, who would be offended by that term, and they could make a complaint against it legally against the website if the word is used in that context without it being blocked in some way, Big Brother UK was once completely shut down because a housemate said a single word, it destroyed the channels credit and that person too.
wow I didn't know the word had such strong connotations in England.

Don't think anybody here in Pakistan would take it that way though.

Interesting stuff.

g.
I believe . . .
  • #99,146
  • Jul 22, 2011 11:28am Jul 22, 2011 11:28am
Quoting Greenhaze
It all looks pretty on the hart but the thing that worries e about this partiular setup is the ajor step forward in Greee debt ase and io assiely oerbought swiss urreny yes I spilled wine on y keyboard
All good points that should be considered. And you should be careful with that wine
  • #99,147
  • Jul 22, 2011 12:34pm Jul 22, 2011 12:34pm
Quoting ghous
wow I didn't know the word had such strong connotations in England.

Don't think anybody here in Pakistan would take it that way though.

Interesting stuff.

g.
It's probably like us referring to ourselves as 'brits'
Anything can happen.
  • #99,148
  • Jul 22, 2011 1:07pm Jul 22, 2011 1:07pm
Quoting deankenny21
Well yes if its related to racism, which that word is. Most of the English population detest the Pakistanis hence the high heat between them and us, and that word has become an english favourite. But is highly racist and will get you in serious trouble.

"in the 70s my friends parents had "wogs out" and "**** off pakis" graffitid on their garages. it was used in a very derogatory term and besides my friends parents are indian and "paki" is just used for anyone brown. Because of its previous derogatory use "paki" is now seemed to be...
well, it's not like there's that much difference between indians and pakistani, historically speaking(at least punjabi, which is the main population in pakistan as far as I remember).

that being said, sound abit overboard with political correctness(which is per se rather stupid imho)... But then uk seems rather weird as of late... at least from the distance
  • #99,149
  • Jul 22, 2011 1:12pm Jul 22, 2011 1:12pm
Quoting aserbfx
enr on weekly with a nice breakout on rising volume. fridays bar was very strong with a rise of about 3 usd and close at dayhigh. i expect a retest of the breakout-zone at about 77.40 usd.
low was 77.50 usd. there enr started the run to 80 usd. already crossed but closed the week at about 79.70 usd. a good idea would be to move stop to break even here.
Attached Image (click to enlarge)
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meine augen sind die sterne
  • #99,150
  • Jul 22, 2011 1:15pm Jul 22, 2011 1:15pm
Quoting snowly
well, it's not like there's that much difference between indians and pakistani, historically speaking(at least punjabi, which is the main population in pakistan as far as I remember).

that being said, sound abit overboard with political correctness(which is per se rather stupid imho)... But then uk seems rather weird as of late... at least from the distance
this shoulndn't be a topic here. this discussion is absolutely in vain. let's stick to trading. everyone here respects the traders from any other cultural background. all same all equal...
meine augen sind die sterne
  • #99,151
  • Jul 22, 2011 1:25pm Jul 22, 2011 1:25pm
Quoting Valinn
Confluence is a thing of BEAUTY!

Set a limit order at 113.55
High of the bar (so far) is 113.56

Stop to b/e...time for some ZZZ

http://img577.imageshack.us/img577/8388/53277124.gif
Out for full profit at FTA (cause its friday) for +100 or 8% ROI Live.

http://img853.imageshack.us/img853/1586/65975954.gif

I have to Thank J16 for piecing all the puzzle pieces together for me. Ive been forex trading for about two years and live trading for 1 1/2 years. I spent the better part of last year in the red. Then I found the phenomenon how prices acts as Support or Resistance then once it breaks S or R it most often comes back to retest said S or R. I call this Break/Retest (what you guys call PPZ). But I was taking them blindly (Pending Orders) and only hitting about 52% accuracy. So then I studied some Nison and started trading just Pinbars. Some how not thinking of applying that to my B/R strategy. That wasnt as successful because I was taking 1hr PB's. I have used fibs and ma's in the past as well but again, taking them blindly without PA.

What J16 showed me was that I had all the right puzzle pieces, I just didnt have my puzzle together. Since I now have my puzzle whole, I have been profitable 5/6 months this year (febuary i went into "god mode" and over traded and lost 90% of Januarys profits). I now have 3 months in a row Profitable and well on my way to a 4th. This thread also helped me get out of that "Millionaire on a Minute" mindset and Im taking smarter trades. My accuracy has shot up to 75%!

Thank you to all on the J16 Chart thread!
  • #99,152
  • Jul 22, 2011 1:30pm Jul 22, 2011 1:30pm
Quoting aserbfx
bnp paribas can be good for a quick retrace to 50 eur (and above). last weeks bar was on ultra-high volume. touched the low of the rectangle and reversed. good r:r with a stop loss below 43 eur.
do i need to tell you guys that bnp retraced where we expected it. and went where we expected it to go. no, i don't need to tell you...
Attached Image (click to enlarge)
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meine augen sind die sterne
  • #99,153
  • Jul 22, 2011 8:53pm Jul 22, 2011 8:53pm
Quoting supremeChaos
Mike is right.
set realistic expectations so u wont get disappointed.
challenge your self to make astounding returns. why not?

the questions are
1. can YOU do it?
2. is YOUR ability & performance in line with your expectations? in other words, are YOU good enough & deserve to get 20 - 100% + returns? the answer is simple & very straigthfroward, but the task & journey is not easy

small accounts... most have them. i do too.
but u are not required to be disappointed.
instead of getting disappointed, think of it in a positive...
I almost never stray from Sonic's thread when I am here at FF, and I do not know what made me wander in here this evening. But I like to think that God wanted me to read this post. Great share, great wisdom, great attitude, and of course, a great story!

You're a good man, supremeChaos, but you don't need me to tell you that!

God Bless,

-ddaytrader
  • #99,154
  • Jul 22, 2011 8:55pm Jul 22, 2011 8:55pm
Quoting ddaytrader
You're a good man, supremeChaos, but you don't need me to tell you that!

God Bless,

-ddaytrader
10+
B
  • #99,155
  • Jul 22, 2011 10:02pm Jul 22, 2011 10:02pm
Quoting jarroo
I thought this Weekly HCR was going to hit first and it still may get hit.. all in all, a good stop loss placement (or entry) for the Daily . . .
Just an update . . .Like to see Price close above the 40.00 . .
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #99,156
  • Jul 23, 2011 1:10am Jul 23, 2011 1:10am
Quoting Valinn
Out for full profit at FTA (cause its friday) for +100 or 8% ROI Live.

http://img853.imageshack.us/img853/1586/65975954.gif

I have to Thank J16 for piecing all the puzzle pieces together for me. Ive been forex trading for about two years and live trading for 1 1/2 years. I spent the better part of last year in the red. Then I found the phenomenon how prices acts as Support or Resistance then once it breaks S or R it most often comes back to retest said S or R. I call this Break/Retest (what you guys call PPZ). But I was taking them...
Why did you place a sell limit at 113.55? What exactly was the PA?
  • #99,157
  • Jul 23, 2011 1:17am Jul 23, 2011 1:17am
the A++ eur/chf setup is not valid anymore .. as we retestet the supply line
and it held .. price and volume action tells me that someone is defending this area .. so no short on this setup..
  • #99,158
  • Jul 23, 2011 4:23am Jul 23, 2011 4:23am
eur/chf closed, de facto, ~1.175 if you ignore last 10 mins. noise in probably very thin market.
  • #99,159
  • Jul 23, 2011 4:42am Jul 23, 2011 4:42am
orange juice futures on weekly and monthly. pinbar on the weekly, at a major resistance-area and a brn 200 usd. negative: trading against the major trend.
Attached Image(s) (click to enlarge)
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meine augen sind die sterne
  • #99,160
  • Jul 23, 2011 7:13am Jul 23, 2011 7:13am
bekb from belgium. right at the brn 50 eur and the 50% fib. first bullish bar in the downmove.
Attached Image (click to enlarge)
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meine augen sind die sterne
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