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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

  • #105,621
  • Jan 6, 2012 2:20am Jan 6, 2012 2:20am
Quoting mbqb11
here's a chart

nice clear clean trendline. These are beautiful to me. I am hoping to see more confluence on the intersection of the TL. Hopefully price consolidates with the BRN, or develops more of a story to use the TL
This looks kinky switched to daily on IBFX feed , due to the sunday bar (in blue) . It's perfect on H4 .
Just an observation .
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  • #105,622
  • Jan 6, 2012 3:48am Jan 6, 2012 3:48am
for today I see pretty interesting sell opportunity on USDCHF... with tight stp above 0.9560... at least 50 pips for my pocket i hope
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all is eternal - this is good news for people who loves bad news
  • #105,623
  • Jan 6, 2012 3:54am Jan 6, 2012 3:54am
1.28 is coming..something to keep an eye on.Good Weekend!
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  • #105,624
  • Jan 6, 2012 4:44am Jan 6, 2012 4:44am
Well shaped , but too sideways of a market . What do you think ?
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  • #105,625
  • Jan 6, 2012 5:21am Jan 6, 2012 5:21am
Quoting meshka
for today I see pretty interesting sell opportunity on USDCHF... with tight stp above 0.9560... at least 50 pips for my pocket i hope
Hope you get it but i'm looking for this to reach 0.9615 for a sell... so for you i hope it goes down, and then bounces up for me!
  • #105,626
  • Jan 6, 2012 5:46am Jan 6, 2012 5:46am
Quoting Rust
This looks kinky switched to daily on IBFX feed , due to the sunday bar (in blue) . It's perfect on H4 .
Just an observation .
yep it's a nice line to keep an eye on if/when it comes into play. Ideally i want to see us intersect back at the BRN for the added confluence. We could see a last move down(who knows how far), but we can always wait and see how we come back up towards the BRN. maybe something like this would be nice. I always play out different scenarios in my head so I never feel surprised by the market rather react logically. If it doesn't happen and we get not good story here then we just wait for the next area. That's the tough part for most. The waiting

Best
Mike
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  • #105,627
  • Jan 6, 2012 6:12am Jan 6, 2012 6:12am
Some mothers do have'm !
  • #105,628
  • Jan 6, 2012 6:22am Jan 6, 2012 6:22am
Hey Pinbar.... we talked about this one last week and you were right my friend! Indeed back up to 4.5. We are now turning around and lets see where from here.
Good call m8.... i learn a lot from you.
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  • #105,629
  • Jan 6, 2012 9:18am Jan 6, 2012 9:18am
Hi all.

I've taken this based on PBTCA on the daily and the 4H off the BRN and overall trend is up.

Its heading into some resistance but the size of the 4H bar gives me enough confidence to take the trade.

Any thoughts, comments etc. much appreciated.

I'm still in the UJ trade I posted a few days back & SL is above BE now.

Cheers
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  • #105,630
  • Jan 6, 2012 11:58am Jan 6, 2012 11:58am
Quoting Gpfx
Hi Mike,

Many thanks for the comments. It is encouraging for me to know that I am seeing this set up in the same way as you.

I think in the interest of discipline and taking only A+ trades live (a new years resolution), I will pass on this one, however I will play it on demo so that I will pay more attention to how the price behaves in this area and wait to see if the lows can be broken.

I will still post the trade as a demo and how I manage it.

Thanks again

GP

Hey there GPFX. Something that helped me pass on so many trades was to literally paper trade the trades that i passed on. I would do the PF exercise of Price will touch A before B. It helped tremendously to mentally be in on it without actually taking the trade. Also helped me to hone FTA, PPZ and profit taking strategies. 2012 is going to be an amazing year. I can feel it.

Ryan
  • #105,631
  • Jan 6, 2012 12:23pm Jan 6, 2012 12:23pm
Quoting sniper012
That's all I'm saying. If someone isn't comfortable disclosing that, it's cool. But what would you say the percentage is of traders on this forum who post with PnL on the chart? I know there are good traders on this thread and believe me, I'm never too cocky to learn something valuable. I just don't know why some members got bent out of shape at the mere mention of posting charts with the PnL on them.

I have not really read too many of your posts, but I will just comment that most of what you have to say displays your level as a trader. Funny enough just spend some time here and you will learn the people that are for real. I understand your apprehention. It is from being burned so many times in so many places. There are times that strong skepticism is not only waranted, but healthy. Spend some time here and get to know the people though before you mouth off too much. This thread has been around for long enough that you are the one with something to prove, not them. They have put in their time to earn respect. That is one of the reasons why you are receiving such a cold reception. You don't mouth off to people your senior and everyone here is already approaching you on the defensive. That is not ideal for a warm welcome.

I will be honest in saying that I do trade a real account and that it is starting to become sizeable. I am a BE+ trader. I don't make 200% a year returns, but the returns are there. The more successful I become the less I feel the need to prove myself. I say to you that I am a success and that my success is not affected by your belief or lack there of. Your belief does not affect my success. I DO. Take a moment and step back and reflect on your mental environment. I 100% believe that you could be an asset here. Your (obviously) strong convictions will hopefully serve you in trading. As you reflect please remember that it is you with something to prove here and not us. If you were (unfortunately) to decide to leave we would be here long after you were gone.

Best of luck to you,
Ryan
  • #105,632
  • Jan 6, 2012 1:34pm Jan 6, 2012 1:34pm
Quoting Grousman
Hi all.

I've taken this based on PBTCA on the daily and the 4H off the BRN and overall trend is up.

Its heading into some resistance but the size of the 4H bar gives me enough confidence to take the trade.

Any thoughts, comments etc. much appreciated.

I'm still in the UJ trade I posted a few days back & SL is above BE now.

Cheers
It really comes down to personal preference, but I do not trade this late in the day on Friday. Size of the bar is nice, but i would not personally classify this as an A+ trade. This is just me though. I think the bar itself is nicely formed. I wish that there was a stronger retest of the .9500 area (as in it actually tested through the .95 BRN). I am by no means telling you what to do, but this would not be something that I would hold over the weekend. As spreads widen it can be a bit of a harrowing experience. Esp as your stop does not full encompass the signal bar and there is no really strong PPZ that is protecting your SL.

Ryan
  • #105,633
  • Jan 6, 2012 1:49pm Jan 6, 2012 1:49pm
Hey guys.

I have been trading, well, lets say learning to trade on a demo account for a while and was just wondering how everyone on a REAL account handle emotions?

I work on yachts in France and I would love to make trading my real profession, but although I have a demo account, I feel sick in the stomach taking trades. All my trades has been profitable so far, but has anyone made the transition from "normal" to trading?
  • #105,634
  • Edited 4:54pm Jan 6, 2012 2:24pm | Edited 4:54pm
Quoting Pinbar
Thanks as always Jim

Just looking at the USD/CAD chart and noticed, you left out the 1.02287 area. Is this because you consider it too shallow a SP.

Also, I included the minor SL in the middle as it seems to be compressing price.

I think the problem was, I was using both the monthly and weekly points which can seem to give us conflicting views on the same chart, on some charts.
Those minor or "in the middle of traffic" HCR/LCS levels (AudUsd charts) are still very much valid and tradable. But the potential or probability of catching a runner there in limited or reduced. If you trade at those levels, I would be quick to breakeven and/or quick to take profit at the near targets . .

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #105,635
  • Jan 6, 2012 2:36pm Jan 6, 2012 2:36pm
Quoting riandouma
Hey guys.

I have been trading, well, lets say learning to trade on a demo account for a while and was just wondering how everyone on a REAL account handle emotions?

I work on yachts in France and I would love to make trading my real profession, but although I have a demo account, I feel sick in the stomach taking trades. All my trades has been profitable so far, but has anyone made the transition from "normal" to trading?
Hey Rian

We have another member who works on yachts! Funny enough to me that's a cool job

I think the best way is to take things slow. Conquer demo, move to a SMALL real live account and slowly build that account and gain confidence. I think to many go from demo to a big account and blow out their emotions(and or skip over demo which is even worse).

Slow and steady and simple are the best things I know of after a decade

Have a great weekend and welcome to the thread
Mike
  • #105,636
  • Jan 6, 2012 2:43pm Jan 6, 2012 2:43pm
Quoting mbqb11
Hey Rian

We have another member who works on yachts! Funny enough to me that's a cool job

I think the best way is to take things slow. Conquer demo, move to a SMALL real live account and slowly build that account and gain confidence. I think to many go from demo to a big account and blow out their emotions(and or skip over demo which is even worse).

Slow and steady and simple are the best things I know of after a decade

Have a great weekend and welcome to the thread
Mike
Thanks Mike

I always tell myself if I canīt look after a $1000 account, I canīt look after a million. Itīs just a bit daunting!
Guess you have to crawl first before you can walk!!
  • #105,637
  • Jan 6, 2012 2:45pm Jan 6, 2012 2:45pm
Quoting riandouma
Thanks Mike

I always tell myself if I canīt look after a $1000 account, I canīt look after a million. Itīs just a bit daunting!
Guess you have to crawl first before you can walk!!
O, the yacht job it cool, but you always want to learn more!
Awesome way to travel the world and not use your own money.
  • #105,638
  • Edited 3:06pm Jan 6, 2012 3:02pm | Edited 3:06pm
Looks to be rolling over on Daily and Weekly - will see how PA reacts below support?
Edit - I mean AUD/NZD
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  • #105,639
  • Jan 6, 2012 3:05pm Jan 6, 2012 3:05pm
Quoting the_wizard
I wonder if any of you guys can help me?

I can't understand what I did wrong this year.

I had such a great idea for a business but it just fell apart.

The idea was simple : I know a supplier that I can get items from really cheap and it was my intention to sell them on for a nice profit in the expensive area I live in (people will pay extortionate prices!!)

I guess my misfortune was a combination of a terrible economic climate and a good old dose of bad luck because my business failed right from the start.

Let me tell you what happened....
Great post Tom .. .We can see that writer in you . .

Man . .if only we could have set up a fake shoe store with fake money . . using fake overhead costs, fake expenses, etc. ..and fake customers but they would live and act in the real world . . behaving in real world, live economic conditions. .

. . . Now that would be great to really learn the shoe business without losing any real money . .

Wait a minute . .you can do that with trading . .the demo account . ..


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #105,640
  • Edited 3:47pm Jan 6, 2012 3:35pm | Edited 3:47pm
Quoting menomoo
what id the take on these charts?
Cheers
V
What can I say, V . .Fantasic! . .

Nice close above that PPZ level in blue . .HCR level gave a nice entry to say the least . .

Interesting where the high hit today . .to the pip of a strong previous Weekly LCS . .Coincidence? I think not . .it happens too many times ..

Classic Resistance level turning . .or flipping . .into a Support level . .

Nice job Vito.


Jim
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Indicators show the past. Price Action "Indicates" the future.
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