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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

  • #100,261
  • Aug 10, 2011 2:21pm Aug 10, 2011 2:21pm
Got bored with this crazy market conditions and took some time to organize my PC desktop. DISCIPLINE is the key, right
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  • #100,262
  • Aug 10, 2011 3:19pm Aug 10, 2011 3:19pm
Quoting Adilius07
Got bored with this crazy market conditions and took some time to organize my PC desktop. DISCIPLINE is the key, right

Man, you are such a nerd. :nerd:

But I have to admit I love what you did...
When the going gets weird, the weird turn pro.
  • #100,263
  • Aug 10, 2011 3:29pm Aug 10, 2011 3:29pm
Quoting stark1
Man, you are such a nerd. :nerd:

But I have to admit I love what you did...

  • #100,264
  • Aug 10, 2011 4:05pm Aug 10, 2011 4:05pm
Quoting devcast
I almost started trading live again! But after two failed short trades on aussie I immediately withdrew all money and closed the account. Man, am I relieved now .
I am definitively not psychologically ready to trade, and after 1,5 years practicing I might never be
Saw this as I was going over some pages that I skipped the other day and just wanted to say that a positive attitude is really important for success in this game. You are obtaining the skills neccessary to trade positively right now and that will be invaluable. You have been at this for a year and a half, but any degree that will make you money will take AT LEAST 4 years. How many hours is that? Think of yourself as well on the way, but there are still skills to be obtained. You WILL make it if you believe you can and continue to put in the time. Just think of yourself as a Sophmore in college. You still need to put in more time to obtain your "degree" as a trader
  • #100,265
  • Aug 10, 2011 4:29pm Aug 10, 2011 4:29pm
Quoting AvanishDemo
Wat at first look sheen in the sky..becomes an asteroid coming my way..

took a bit more over half bar loss(GBPNZD BEOB)..as price wasn't moving in favour & NZD pairs were moving straight down..
alrite no prob.

Question to Mike:
Mike..
js like u,i also liked the GBPNZD BEOB..yes there were other setups as well but it was my personal decision as i took this trade (before reading ur post itself)..n later felt good that u also took the same(infact every1 likes it when they take a trade..js to see later some senior member also took the same trade...

Have to go to work in a moment so it will just be a short answer for now. I took the AUDSGD trade yesterday and as everyone can see it did not go my way. I wait for the right factors for what I consider to be an A+ trade. To be honest if something comes along that strikes my fancy I will take it no matter what the volaitility is. It just needs to be a good trade and I will take it. Not all trades will go in our favor. Trades that do not go in our favor are, to me, just a factor of trading. It is not so much the loss that is important to me, but instead how I mentally react to it. This is because at some point everyone is GUARANTEED to take a loss. Just be sure that it does not effect how you are viewing the markets. I think of it as a pay to play scenario.

Ryan
  • #100,266
  • Aug 10, 2011 4:55pm Aug 10, 2011 4:55pm
Quoting mbqb11
Very glad to hear you made your own decision first. Following anyone else does nothing for someone long term.

Yes my trade got hit on both the pairs and just waiting and watching. I knew my risk going in and knew the points I would cut out. The rest isn't up to me until new information prints that changes my plan.

Hope that helps
Mike
Thanks Mike! As usual, more words of wisdom. I just finished up recording the lessons to be learned from the trades I took on my chart screenies - I'll be adding this

/psd
  • #100,267
  • Aug 10, 2011 5:50pm Aug 10, 2011 5:50pm
Quoting Adilius07
Got bored with this crazy market conditions and took some time to organize my PC desktop. DISCIPLINE is the key, right
LMAO... But,
Shouldn't James16 be on the Top Shelf?
Just askin' lol.
B
  • #100,268
  • Aug 10, 2011 5:57pm Aug 10, 2011 5:57pm
Quoting Bemac
LMAO... But,
Shouldn't James16 be on the Top Shelf?
Just askin' lol.
B
Hero calls followed by margin calls...
  • #100,269
  • Aug 10, 2011 6:10pm Aug 10, 2011 6:10pm
Quoting Bemac
LMAO... But,
Shouldn't James16 be on the Top Shelf?
Just askin' lol.
B
lololol
  • #100,270
  • Aug 10, 2011 8:12pm Aug 10, 2011 8:12pm
Just found a possible setup on EUR CAD and thought I would run it through you guys to see what you think. Entry would be just below BRN 1.4000, the break of the pin is in confluence with 61.8 fibonacci. Estimated FTA area 1.3850. Stop at 1.4180.

Steve
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Enter Signature
  • #100,271
  • Aug 10, 2011 11:43pm Aug 10, 2011 11:43pm
Hey all,

long time lurker, 1st time poster

so, looks like a decent eur/gbp pin broke the .8800 BRN going into a bit of traffic and some moving averages. As its also resting on the 50%, i am realizing the whole A+ trade thing may not apply in this situation...damn

anyway, here's the chart for some amusement
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  • #100,272
  • Aug 11, 2011 12:15am Aug 11, 2011 12:15am
Quoting bmwiles
Hey all,

long time lurker, 1st time poster

so, looks like a decent eur/gbp pin broke the .8800 BRN going into a bit of traffic and some moving averages. As its also resting on the 50%, i am realizing the whole A+ trade thing may not apply in this situation...damn

anyway, here's the chart for some amusement
Hey BM welcome to the thread(posting at least)

This is a tricky one running into traffic(marked in blue). Right under it those bar highs could keep us up here. If it can break through that would be the area to watch to hold since it's playing in such a tight area you have to be quick

Best
Mike
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  • #100,273
  • Aug 11, 2011 1:49am Aug 11, 2011 1:49am
Dr MrGreener,
I have 1.4000 as a PPZ which may mean its strong support, you may want to see a convincing break of that for entry.
  • #100,274
  • Aug 11, 2011 4:00am Aug 11, 2011 4:00am
Hi all,
Possible area of interest.
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Follow my trading on Twitter and FB: @pumlitch
  • #100,275
  • Aug 11, 2011 4:08am Aug 11, 2011 4:08am
Quoting Bemac
LMAO... But,
Shouldn't James16 be on the Top Shelf?
Just askin' lol.
B
Ahh yes, yes! Sorry man, will fix that in a minute, top shelf will be dedicated to trading and James16 only!
  • #100,276
  • Aug 11, 2011 4:29am Aug 11, 2011 4:29am
Quoting AvanishDemo
is that?
http://www.forexfactory.com/showthre...99#post2585699


im staying away out of the crazy markets
Thanks Avanish. This is the exact post I was looking for-

http://www.forexfactory.com/showthre...42#post3489242

It has the summeries of seniors.

Thanks,
Vinay
  • #100,277
  • Aug 11, 2011 8:24am Aug 11, 2011 8:24am
Hi Guys,

IMO there is a high prob opportunity on EurAud at the mom... Sell stop orders are stacked below the 1.3830 but in the current market conditions we may have some fakeouts before the actual move to the downside so I will enter 1/2 on the break and the other half if price will come back above it. First target - 1.3705.
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  • #100,278
  • Aug 11, 2011 8:31am Aug 11, 2011 8:31am
Quoting Greenhaze
Hi Guys,

IMO there is a high prob opportunity on EurAud at the mom... Sell stop orders are stacked below the 1.3830 but in the current market conditions we may have some fakeouts before the actual move to the downside so I will enter 1/2 on the break and the other half if price will come back above it. First target - 1.3705.
also on the AUD subject, i want to see AUDJPY break above 79 too
  • #100,279
  • Aug 11, 2011 11:08am Aug 11, 2011 11:08am
Quoting geniusztc
yes ,there is new lower high ,but the 365EMA gives support ,and there is the pattern TWO DAYS PIN BAR ? i am not sure ,but i think we can open order now ,and stop loss @8630.
price had gone to the lower higher ,and pull back to the support down trend line and 150ema gives .if price hold on here ,i think then this pair will break up .lets c today's close .
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A chart helps those who can read it.
  • #100,280
  • Edited 4:11pm Aug 11, 2011 4:09pm | Edited 4:11pm
Hi All,

I quite like the current setup on GBPUSD. On the chart the two horizontals around 1.625 are HCR and LCS and have been well respected. Price has recently broken through and closed below now testing it from below.

You can also the the uptrend line that was broken and price has tested from the underside close to 1.65 now moving lower. If the underside holds at 1.625 I think 1.6 is a safe target.

You can also see the 38.2 fib retrace from the recent swing high, lining up with 1.625 and the HCR.

Thought it's a nice one to watch and see how it plays out. An hour to go 'til the H4 bar closes on my feed so may see what it presents?
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