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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

  • #100,701
  • Aug 20, 2011 4:05pm Aug 20, 2011 4:05pm
Quoting vinayn
Hi guys,
I see no good set ups. Does anyone see anything? In fact I did only 1 trade in 2 weeks. I think it was necessary to have such time when I had to take no trade- just to train my mind that it is not necessary to trade all the time. In fact it was the first time I havn't traded for so long since I started. Thanks to James16 people.
Thanks,
Vinay

Hi Vinayn and all,

I have also not traded for a while due to still being in my first 3 month period demo trading only PB set ups and learning discipline to only take good PB set ups.

However, due to there being none recently I thought I would scan a few more pairs or even stocks and have found that on Alphari MT4 a few popular UK FTSE 100 Stocks are available.

Fridays close has brought to my attention 3 that I might consider BATS.UK, KAZ.UK, AZN.UK and MKS.UK. Ref attached charts.

If I do decide to place orders on any of the aforementioned stocks my plan would be to play a break of the PB and to close 1/2 position move SL to BE if price hit the area marked on the charts by the green line. (Based on preliminary analysis only)

However, I am unsure due to the behaviour of the Stock market or at least my little understanding of the behaviour of the stock market as I am used to watching mainly FX pairs.

Therefore, please would any of the senior members provide comment on the PBs I have posted I would really appreciate your inputs.

I would also appreciate anybody else’s comments so please feel free, I have learned so much from all on the J16 thread and hope to keep learning.

Many thanks

Cheers

GPFX
Attached Image(s) (click to enlarge)
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  • #100,702
  • Aug 20, 2011 4:11pm Aug 20, 2011 4:11pm
Quoting vinayn
Hi guys,
I see no good set ups. Does anyone see anything? In fact I did only 1 trade in 2 weeks. I think it was necessary to have such time when I had to take no trade- just to train my mind that it is not necessary to trade all the time. In fact it was the first time I havn't traded for so long since I started. Thanks to James16 people.
Thanks,
Vinay
YES!! Awesome to see you feeling that way about not feeling a personal (and flawed) belief that you NEED to trade. Learning to not trade has been one of the more counterintuitive points that I have come accross, but also been one of the principles that has served me best. Glad to hear things are going well.

I have only taken 1 trade in about the past 3 weeks. This type of volatility is not my cup of tea. It seems to cause static in my ability to see the story on the daily and up TFs. I believe that on the 4hr it might have been easier to see the story, but I don't feel a draw to trading that TF. I am preparing to go to the 4hr, but it has been a tremendous amount of practice to reach that point. I had to learn to NOT trade before I would ever allow myself to touch a lower TF.

Keep on keepin' on!
Ryan
  • #100,703
  • Aug 20, 2011 4:18pm Aug 20, 2011 4:18pm
Quoting Greenhaze
Asian currencies seems to be a good place to park your money for some time..... while the crowd doesn't look there :-)
Ha ha our charts are almost identical!!! Love it when that happens. I just recently adjusted my downward TL to the one that you have. This has been on my radar for a while. Just been keeping a eye out for a Jarroo style PBT&CB or a Mike style breakout and retest. We will see what the charts offer us when and if they do!

Ryan

Attached Image (click to enlarge)
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  • #100,704
  • Aug 20, 2011 4:25pm Aug 20, 2011 4:25pm
Quoting geniusztc
on weekly chart ,weekly close price is above the support zone @ 76.30.on daily chart, the doji candle .but it is NOT SAFE to long here .open long position above friday's high price @ 76.95 will be not bad ,or even ,we should wait price break 77.20 . however ,it is a sign. and different postion have different SL. enjoy weekend.
My personal philosophy would be to work a long position VERY conservatively at the point you are looking at. That close on the pin you are refering to on the daily inspires VERY little confidence in me. That would be one where a true J16 break of the bar would be the only way that I would be willing to touch it. Just my personal thoughts though. The most important thing is that YOU should make these decisions personally as you will be the only one that you can rely on for answers in a pinch.
  • #100,705
  • Aug 20, 2011 4:26pm Aug 20, 2011 4:26pm
Quoting AvanishDemo
its disgusting that my MT4 Platform keeps getting crashed..


What do you mean? Maybe we can help. Lord knows that I have had my fair share of issues...

Ryan
  • #100,706
  • Aug 20, 2011 4:28pm Aug 20, 2011 4:28pm
Quoting AvanishDemo
yeah i use to keep 3 of them but its disgusting bcos crash happens frequently twice or thirce a week...and i was lazy saving templates.
ah ok i will make it 5 ,thats the only thing to do though i dont like keep so many windows for the same...lol..



yep i tried earlier..it still gives the crash report..i again uninstalled-installed it just now though,also tried a lil things like scanning system and disk cleanup..not sure if that will help...js my despair efforts.
What OS are you using?
  • #100,707
  • Aug 20, 2011 4:32pm Aug 20, 2011 4:32pm
Quoting Gpfx
Hi Vinayn and all,

I have also not traded for a while due to still being in my first 3 month period demo trading only PB set ups and learning discipline to only take good PB set ups.

However, due to there being none recently I thought I would scan a few more pairs or even stocks and have found that on Alphari MT4 a few popular UK FTSE 100 Stocks are available.

[color=black][font=Verdana]Fridays close has brought to...
I don't trade any equities at the moment. As with all things trading though, the key is to demo. I would open a separate account and just work it to see what you think would be best. I would treat it as a separate account though in an effort to not comingle profits from different methods. You may find AcerBFX to be an iteresting one to follow. He actually just started a new thread wherein he primarily discusses stock trades. The link is below.

http://www.forexfactory.com/showthread.php?t=305532

Ryan
  • #100,708
  • Aug 20, 2011 4:43pm Aug 20, 2011 4:43pm
Quoting gungriffin
I have to be honest that I don't have much love for this right now. I just don't see where the story is in all of it. I don't even see much of a story on the Jarroo method (though I am still learning to see his methods better). I am just curious what it is that you are seeing as the story in all of this? Also very curous as to what your plan is? As I see it there are several major trouble spots coming up on the horizon for a move higher. The two that I see on the chart that jump out at me are:
[indent]1) That 1.65 BRN would want to see a close above...
The price is in range market monthly with resistence at 1.67.
The weekly candle closed is a bullish one as a sign that the buyers are pushing the price to resistence,but for the moment found some sellersthat are trying to defend not only the monthly resistence but even the weekly consolidation.Perssonaly I use the weekly candle just as an information,as a first sellers reaction at resistence.
For me,the best thing to do,is waiting to see who has the market controll at 1.67 monthly resistence.
Nowadays the price is stuck between the 2 strong levels,what makes trading risky and requires a fast money management.Just mine.
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Nothing personal,just business
  • #100,709
  • Aug 20, 2011 4:48pm Aug 20, 2011 4:48pm
Quoting gungriffin
I don't trade any equities at the moment. As with all things trading though, the key is to demo. I would open a separate account and just work it to see what you think would be best. I would treat it as a separate account though in an effort to not comingle profits from different methods. You may find AcerBFX to be an iteresting one to follow. He actually just started a new thread wherein he primarily discusses stock trades. The link is below.

http://www.forexfactory.com/showthread.php?t=305532

Ryan
Thanks for the advice Ryan,

I will open a another demo account for theese kind of trades and check out the link you provided.

Regards




Gpfx

I will check out the link also.
  • #100,710
  • Aug 20, 2011 4:57pm Aug 20, 2011 4:57pm
Quoting Gpfx
Hi Vinayn and all,

I have also not traded for a while due to still being in my first 3 month period demo trading only PB set ups and learning discipline to only take good PB set ups.

However, due to there being none recently I thought I would scan a few more pairs or even stocks and have found that on Alphari MT4 a few popular UK FTSE 100 Stocks are available.

[color=black][font=Verdana]Fridays close has brought to...
Hi Gpfx
I'm not a senior member,but in this thread every thought is useful to become better!
Here is mine !
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Nothing personal,just business
  • #100,711
  • Aug 20, 2011 7:21pm Aug 20, 2011 7:21pm
Just wondering if J16 is still in that GU trade off of the PB or if he closed it out or the SL got hit at either SL3 or SL4.


Of course, I am just imagining where he moved his stops.
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  • #100,712
  • Aug 20, 2011 8:21pm Aug 20, 2011 8:21pm
Quoting gungriffin
Ha ha our charts are almost identical!!! Love it when that happens. I just recently adjusted my downward TL to the one that you have. This has been on my radar for a while. Just been keeping a eye out for a Jarroo style PBT&CB or a Mike style breakout and retest. We will see what the charts offer us when and if they do!

Ryan

Attachment
i like it
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  • #100,713
  • Aug 20, 2011 9:09pm Aug 20, 2011 9:09pm
Mike, if EU breaks out of the 1.4500 area, is this a reasonably projection as to a possible target area it may reach, based on the width of this triangle?

Thanks

Got to run
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  • #100,714
  • Aug 20, 2011 9:21pm Aug 20, 2011 9:21pm
Quoting Pinbar
Mike, if EU breaks out of the 1.4500 area, is this a reasonably projection as to a possible target area it may reach, based on the width of this triangle?

Thanks

Got to run
for sure Pin. I hate playing within the mess but when we get out of this there can be good opportunities. As well that swing high point is a great area to watch. We may be breaking down though

Have a great end to the weekend
Mike
  • #100,715
  • Aug 20, 2011 9:44pm Aug 20, 2011 9:44pm
Quoting gungriffin
My personal philosophy would be to work a long position VERY conservatively at the point you are looking at. That close on the pin you are refering to on the daily inspires VERY little confidence in me. That would be one where a true J16 break of the bar would be the only way that I would be willing to touch it. Just my personal thoughts though. The most important thing is that YOU should make these decisions personally as you will be the only one that you can rely on for answers in a pinch.
hey,gungriffin. you are right ,the break of the pin is important .actually ,there are several pinS or dojiS the other day ,but there is no break of 77.30 . and trade is a bussiness of ONESELF .thank you very much .good luck .
A chart helps those who can read it.
  • #100,716
  • Aug 20, 2011 11:43pm Aug 20, 2011 11:43pm
Hi folks,

I see a massive spike on USDSGD Daily chart on my feed. Does anyone else have the same kinda spike on their chart. Would anyone be able to explain why this happens, please? Thanks.
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  • #100,717
  • Aug 21, 2011 1:00am Aug 21, 2011 1:00am
Quoting Frxter
Hi folks,

I see a massive spike on USDSGD Daily chart on my feed. Does anyone else have the same kinda spike on their chart. Would anyone be able to explain why this happens, please? Thanks.
I don't believe that you would see this on a live feed. It seems to mainly be a bad part of the feed on a demo account from what I have seen in the past.

Ryan

*edit*
Like I said. Here is my demo.
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  • #100,718
  • Aug 21, 2011 1:39am Aug 21, 2011 1:39am
Quoting gungriffin
I don't believe that you would see this on a live feed. It seems to mainly be a bad part of the feed on a demo account from what I have seen in the past.

Ryan

*edit*
Like I said. Here is my demo.
Attachment
Thanks, Ryan. It's actually from my live account's feed. It's with VantageFX. My demo with Oanda seems OK. Screenshot attached.
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  • #100,719
  • Aug 21, 2011 2:32am Aug 21, 2011 2:32am
Quoting gungriffin
What do you mean? Maybe we can help. Lord knows that I have had my fair share of issues...

Ryan
Quoting gungriffin
What OS are you using?
i meant...Fxpro Platform Application gets shut down on its own...which is a crash..it happens 2-3 times a week,so when i open the FxPro Application my currency pairs resets to old charts and i have to keep loading templates for all 20+pairs i follow..which is kind of bugging.
but i think crashes are normal..so i will keep 4 or 5 windows open for the same.

I use Vista.
  • #100,720
  • Aug 21, 2011 2:35am Aug 21, 2011 2:35am
Guys do you consider to watch this one (EUR/NZD daily TF)? for a possible retest?
Attached Image (click to enlarge)
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38 traders viewing now, 1 is registered:
Zojahamad