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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

  • #103,421
  • Oct 23, 2011 8:22am Oct 23, 2011 8:22am
Quoting 5.25
Another opportunity to go long? USD looking quick bearish at the moment though.
not really sure for longs..
this time i would be careful..

i like EU more for shorts
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  • #103,422
  • Oct 23, 2011 9:01am Oct 23, 2011 9:01am
Quoting AvanishDemo
not really sure for longs..
this time i would be careful..

i like EU more for shorts
absolutely, as long as we stay below 1.4000 level.

consider weekends ecb meeting action , they agreed to partial debt cancelation for greece .....

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Hero calls followed by margin calls...
  • #103,423
  • Oct 23, 2011 9:43am Oct 23, 2011 9:43am
Quoting AvanishDemo
not really sure for longs..
this time i would be careful..

i like EU more for shorts
Agreed, Europe is looking shaky.
  • #103,424
  • Oct 23, 2011 7:30pm Oct 23, 2011 7:30pm
Hi Guys,

Is the cable about to untangle?

Would this be an interesting location to watch PA? I am learning to anticipate PA bars rather than wait for them to happen. And I think we may see some PA confirmation this week to guide us..
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Trading is a test match not a Twenty20.
  • #103,425
  • Oct 23, 2011 7:41pm Oct 23, 2011 7:41pm
Quoting decentchap
Hi Guys,

Is the cable about to untangle?

Would this be an interesting location to watch PA? I am learning to anticipate PA bars rather than wait for them to happen. And I think we may see some PA confirmation this week to guide us..
yes very good DC. It's easier to anticipate and then when things line up pull the trigger

Best
Mike
  • #103,426
  • Oct 23, 2011 8:18pm Oct 23, 2011 8:18pm
Quoting mbqb11
yes very good DC. It's easier to anticipate and then when things line up pull the trigger

Best
Mike
Thanks Mike and Jaroo for the earlier responce. I really apriciate the time you give to us without any personal gain.
Trading is a test match not a Twenty20.
  • #103,427
  • Oct 23, 2011 9:13pm Oct 23, 2011 9:13pm
I think we are going all the way to the 1.6000 before we see a significant breakdown.
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  • #103,428
  • Oct 23, 2011 9:39pm Oct 23, 2011 9:39pm
Quoting Pinbar
I think we are going all the way to the 1.6000 before we see a significant breakdown.
And if I were to say...
That may be a little projective.

Nice thing is;
We can move our SL,TP numbers as a Trade moves.

B
  • #103,429
  • Oct 23, 2011 9:40pm Oct 23, 2011 9:40pm
Quoting mbqb11
whoops sorry FX, my mistake

I marked it, it's actually lower. There is a bar high/low flip. THis is the very FTA and in a case with such a small bar and poor location as we discussed I would be concerned with even that.

Best
Mike
Aha, now i see it. Thks Mike for pointing it out.

I'm still holding on to NZDUSD demo trade based on BEOB formed on 17th. Things are not looking good and I wonder if I shld have just killed it though it has not taken out the S/L above BEOB. Typically, what is the time limit you give for your trade, i.e after entry, how many bars wld have gone passed and if it has not moved in your favour, you will kill the trade though it has not reach your S/L?

PinBar, thks for ur note too!
  • #103,430
  • Oct 23, 2011 9:50pm Oct 23, 2011 9:50pm
Quoting Bemac
And if I were to say...
That may be a little projective.

Nice thing is;
We can move our SL,TP numbers as a Trade moves.

B

Yes, it could be rather projective as you say.
However, we have a strong uptrend and we have yet to see any definitive bearish PA at the area we are currently at, even on the lower TF.
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  • #103,431
  • Oct 23, 2011 10:13pm Oct 23, 2011 10:13pm
Quoting Fx7877
Aha, now i see it. Thks Mike for pointing it out.

I'm still holding on to NZDUSD demo trade based on BEOB formed on 17th. Things are not looking good and I wonder if I shld have just killed it though it has not taken out the S/L above BEOB. Typically, what is the time limit you give for your trade, i.e after entry, how many bars wld have gone passed and if it has not moved in your favour, you will kill the trade though it has not reach your S/L?

PinBar, thks for ur note too!
Hi
let me answer this for you and see if my understanding is correct.

In terms of killing off the trade or cutting off your losses in other words - it will depend on the reason why you took the trade. if your thought process was that the price will reverce from xx and go up/down - as a general guideline as soon as you have a close above (if you thought the price is going down) or below(if you thought the price was going up) xx , you should kill the trade - rather than waiting for it to hit your s/l.

What we are doing here is killing the hope factor from our trade management and trading based on our judgement.
Trading is a test match not a Twenty20.
  • #103,432
  • Oct 23, 2011 11:18pm Oct 23, 2011 11:18pm
Took the break of the H1 DBLHC and just took off two thirds profit at 1.59839. I can now leave the SL where it is and see if we get an hourly close below the weekly PPZ.

I think it is on its way to the 1.6000
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  • #103,433
  • Oct 24, 2011 1:31am Oct 24, 2011 1:31am
Almost there & LO is 30 mins away.

I was trying out Jarroo's thing on the lower TF as I had a bias in mind about this breaking out of the weekly PPZ.
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  • #103,434
  • Oct 24, 2011 1:41am Oct 24, 2011 1:41am
This is close enough.
Moved SL to BE and took most off the table.

Just left a little in the remote case it is a runner.
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  • #103,435
  • Oct 24, 2011 2:47am Oct 24, 2011 2:47am
Quoting Pinbar
This is close enough.
Moved SL to BE and took most off the table.

Just left a little in the remote case it is a runner.
Morning all. Start a new day job today, so won't be at the screens full time like I have been, but I'll be keeping an eye on things still, and doing my analysis in the evenings, around the US afternoon session and close so I'm prepared for the following day.

Keeping a watchful eye on cable this morning (fortunately where I'll be working I'll be able to get access to my charts thanks to remote desktop) I know we don't trade feelings, but my spidey sense is tingling and saying 5850 is likely to get tested before any break past 1.6, but it's just a feeling. I'm still looking forward to seeing how todays bar finishes on cable.
  • #103,436
  • Oct 24, 2011 2:55am Oct 24, 2011 2:55am
Quoting picon1
Morning all. Start a new day job today, so won't be at the screens full time like I have been, but I'll be keeping an eye on things still, and doing my analysis in the evenings, around the US afternoon session and close so I'm prepared for the following day.

Keeping a watchful eye on cable this morning (fortunately where I'll be working I'll be able to get access to my charts thanks to remote desktop) I know we don't trade feelings, but my spidey sense is tingling and saying 5850 is likely to get tested before any break past 1.6, but it's just...
Are you blue or red mate? Amazing scoreline yesterday! sorry if you are neither.. 1.6 got confluence with yesterday score too.
Trading is a test match not a Twenty20.
  • #103,437
  • Oct 24, 2011 3:17am Oct 24, 2011 3:17am
Quoting decentchap
Are you blue or red mate? Amazing scoreline yesterday! sorry if you are neither.. 1.6 got confluence with yesterday score too.
good one, I'd didn't even pick up on that confluence

I'm a blue, and this makes up for all those years falling down the divisions, and sitting watching them in Div 2 playoffs, as it was called then. Monday's have never felt so good. Needless to say my mum is a red and I spoke to her yesterday, and she was strangely quiet.
  • #103,438
  • Oct 24, 2011 3:32am Oct 24, 2011 3:32am
There is nice PB on fxpro h4 feed eurusd. 1.39 might work as a resistance now.
  • #103,439
  • Oct 24, 2011 4:13am Oct 24, 2011 4:13am
Quoting Greenhaze
There is nice PB on fxpro h4 feed eurusd. 1.39 might work as a resistance now.
hello,Greenhaze. i am not be convinced with the bar or candle patterns .as you can see ,different brokers have different bar patterns ,because they use different start time .the SAMLY using pattern will sometimes not be effective. the same thing on daily charts ,as forex market is a 24hous market ,how can we use the daily patterns as we using on stock markets? thank you .
A chart helps those who can read it.
  • #103,440
  • Oct 24, 2011 4:44am Oct 24, 2011 4:44am
Quoting geniusztc
hello,Greenhaze. i am not be convinced with the bar or candle patterns .as you can see ,different brokers have different bar patterns ,because they use different start time .the SAMLY using pattern will sometimes not be effective. the same thing on daily charts ,as forex market is a 24hous market ,how can we use the daily patterns as we using on stock markets? thank you .
Imo daily candles are very similar on majority of the feeds and 2-3 hours of difference doesn't change the shape much. This is much more visible on h4 tf but what i do is i go even deeper to gauge the market momentum. On lower tf price came back below the 1.39 with only 2 h1 candles without much respect for the 1.39. It tells me that some traders that entered long on the 1.39 breakout to the upside are on the wrong side now. Same goes for those who bought the support. Thats why i expect atleast some reaction there on the first pullback. I hope it makes sense

Cheers
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