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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

  • #102,841
  • Oct 10, 2011 2:48am Oct 10, 2011 2:48am
Free ride down to 3.3
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Trading: the skill of avoiding trades
  • #102,842
  • Oct 10, 2011 2:49am Oct 10, 2011 2:49am
Do we have a Mike breakout on the cards?
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  • #102,843
  • Oct 10, 2011 2:53am Oct 10, 2011 2:53am
Quoting Pinbar
Do we have a Mike breakout on the cards?
Personnaly i think thats a very risky trade. You are buying new highs at supply area where strong selling may occur.
  • #102,844
  • Oct 10, 2011 2:55am Oct 10, 2011 2:55am
Quoting Greenhaze
Personnaly i think thats a very risky trade. You are buying new highs at supply area where strong selling may occur.
Thanks for the advice

The thing is, if he buy orders gets triggeres, we will have broken out of this pennant also above the BRN and the price will be 40 pips above the weekly flip area marked with the arrow.
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  • #102,845
  • Oct 10, 2011 3:03am Oct 10, 2011 3:03am
H4 closes above the BRN, the pennant, the back of the D1 PB just broke & London just opened
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  • #102,846
  • Edited 3:19am Oct 10, 2011 3:04am | Edited 3:19am
Also looking at GBPAUD Daily for a break of the inside bar from Friday. I got a decent chunk of this current move down on Thursday. The way I see inside bars in a trending move is that it is a pause in the move. Some profit taking in the market, before people start looking at new positions in the direction of the trend again.

So I am keeping my eye on this for an IB breakout.

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  • #102,847
  • Oct 10, 2011 3:05am Oct 10, 2011 3:05am
Quoting Pinbar
Thanks for the advice

The thing is, if he buy orders gets triggeres, we will have broken out of this pennant also above the BRN and the price will be 40 pips above the weekly flip area marked with the arrow.
From weekly perspective that might work but i've seen your SL being set close to you entry and i thought you are playing this with short-term aproach. Sorry if i misunderstood.

There is better investment to be made atm - new servers for FF
  • #102,848
  • Oct 10, 2011 3:10am Oct 10, 2011 3:10am
Quoting Greenhaze
From weekly perspective that might work but i've seen your SL being set close to you entry and i thought you are playing this with short-term aproach. Sorry if i misunderstood.

There is better investment to be made atm - new servers for FF
lol, yeah defo new servers needed
  • #102,849
  • Oct 10, 2011 3:15am Oct 10, 2011 3:15am
Quoting Greenhaze
From weekly perspective that might work but i've seen your SL being set close to you entry and i thought you are playing this with short-term aproach. Sorry if i misunderstood.

There is better investment to be made atm - new servers for FF
Yes, GH I adjusted the SL to give it some room just before I saw this post.

Just trying my hand at breakouts.

Thanks for the advice

PS: You also been having problems with the site?
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  • #102,850
  • Oct 10, 2011 3:36am Oct 10, 2011 3:36am
Quoting Pinbar
Yes, GH I adjusted the SL to give it some room just before I saw this post.

Just trying my hand at breakouts.

Thanks for the advice

PS: You also been having problems with the site?
I'm having constant server overload messages.
  • #102,851
  • Oct 10, 2011 3:46am Oct 10, 2011 3:46am
similar setup on J which I am also in.
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  • #102,852
  • Oct 10, 2011 3:55am Oct 10, 2011 3:55am
Just taken enough partial profit out so that I can leave the SL where it is and if I get stopped out, I will still be at BE.
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  • #102,853
  • Oct 10, 2011 4:03am Oct 10, 2011 4:03am
Quoting Pinbar
Just taken enough partial profit out so that I can leave the SL where it is and if I get stopped out, I will still be at BE.
Nice trade
  • #102,854
  • Oct 10, 2011 4:07am Oct 10, 2011 4:07am
Quoting Pinbar
Just taken enough partial profit out so that I can leave the SL where it is and if I get stopped out, I will still be at BE.
Quick and painless. Good confidence kick for the rest of the week
  • #102,855
  • Oct 10, 2011 4:10am Oct 10, 2011 4:10am
Quoting picon1
Nice trade
A bit early for that. LOL
Might not work out, as GH said, there is a ton of resistance above.
Just trying to get into the position of a free trade, so that we may catch a runner.
  • #102,856
  • Oct 10, 2011 4:11am Oct 10, 2011 4:11am
Quoting Greenhaze
Quick and painless. Good confidence kick for the rest of the week

Yeah, I am trying out Jarroo's methodology and trying to gain confidence with it. The confidence and experience are worth so much more than the pips.
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  • #102,857
  • Oct 10, 2011 5:45am Oct 10, 2011 5:45am
Both EU & EJ hit their projected, initial targets.
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  • #102,858
  • Oct 10, 2011 6:08am Oct 10, 2011 6:08am
Quoting Pinbar
Both EU & EJ hit their projected, initial targets.
Am I officially aloud to call it a good trade now?
  • #102,859
  • Oct 10, 2011 6:16am Oct 10, 2011 6:16am
Quoting picon1
Am I officially aloud to call it a good trade now?
That was so funny.

Not yet though.

It has just really started with the break of those weekly PBs.
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  • #102,860
  • Oct 10, 2011 6:21am Oct 10, 2011 6:21am
Quoting Donkey
After a couple of days the 365ema and 92xx area is holding. I considered closing trade, but I've decided to lock in a small profit (moving stop to 9065) and see what the next 24hrs brings.
Moved stop to 9110 after Friday close, taken out over night. Trade was about .3R win, but I left some on the table....still having to put in work on exits.
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