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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

  • #106,161
  • Jan 21, 2012 4:37pm Jan 21, 2012 4:37pm
Quoting mbqb11
Looks good vyky, your trade plan.

My FTA would be the previous bar high, lining up with the other lows but essentially the same as you with the major trouble area being the clear two lows up near 1.34

The reason I would pass in case you are interested(not to dissuade your trade plan it's fine) is because of the size of the recent down move vs the size of the BUOB. If played it should be played as James16 describes in this is critical. That's why I don't want you to take me not taking it as it's a bad trade. Also there isn't a large amount of...
Hi Mike,

Thanks for your comments.
I also thought about the lack of other confluence like EMA's, FIB's. The only reason this trade could be taken is purely based on the PA BUOB and the space above it.

Here is my trade plan....

Enter @ 1.3170
S/L @ 1.2870
Target = will be watching all the important FTA's for possible exits

Trade mainly based on the Daily Chart. I will be looking at the bar highs/lows and RN's for FTA's on the Daily Chart.

Mike, Can you please elabarate on this line.
Quote
If played it should be played as James16 describes in this is critical.
Thanks
vyky
  • #106,162
  • Jan 21, 2012 4:43pm Jan 21, 2012 4:43pm
Quoting Bryan
Our January bar will be a higher low from January a year ago. Nine more days may form a monthly bullish "pinish" bar. I think it's worth trading.

Bryan,

That's good point. We will closely watch for a bullish pin on the monthly chart.

Thanks
vyky
  • #106,163
  • Jan 21, 2012 5:06pm Jan 21, 2012 5:06pm
Quoting jarroo
Hey vyky . . FxPro MT4 demo . . .
Hi jarroo,

I installed the FxPro MT4 demo. All I can see is the regular MT4 platform. I checked the charts section in the main menu. But I am not able to find your beautiful charts

Can you please help.

Thanks
vyky
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  • #106,164
  • Jan 21, 2012 5:31pm Jan 21, 2012 5:31pm
Quoting vyky
Hi jarroo,

I installed the FxPro MT4 demo. All I can see is the regular MT4 platform. I checked the charts section in the main menu. But I am not able to find your beautiful charts

Can you please help.

Thanks
vyky
Oh .sorry about that, vyvk,. I thought you were talking about the New York Close that FxPro offers.



Just right click on the chart and go to "Properties" or hit "F8".

Here are my selections in the "Colors" and "Common" sections . ..
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #106,165
  • Jan 21, 2012 5:40pm Jan 21, 2012 5:40pm
Quoting vyky
Hi Mike,

Thanks for your comments.
I also thought about the lack of other confluence like EMA's, FIB's. The only reason this trade could be taken is purely based on the PA BUOB and the space above it.

Here is my trade plan....

Enter @ 1.3170
S/L @ 1.2870
Target = will be watching all the important FTA's for possible exits

Trade mainly based on the Daily Chart. I will be looking at the bar highs/lows and RN's for FTA's on the Daily Chart.

Mike, Can you please elabarate on this line.
Thanks
vyky

Mike was referring to this post here:


Quoting james16
YES!!!

THIS IS CRITICAL.

WE MUST LEARN TO:

1. notice a strong s/r area just beyond our pa if it exists.
2. know that if we trade into it we had better be prepared for a quick reversal that could give us a loss if we are not prepared.

if we know its there we have several choices.

1. get out when it gets there for a small profit.
2. take a small partial profit and move the remainder to BE.
3. stay in with your total position hoping for a break and move your stop to BE.
4. Dont enter until the level has been broken.

in this case we are...


Its the "This is Critical" post that many people refer to which is centered around trade management and entries.
Indicators show the past. Price Action "Indicates" the future.
  • #106,166
  • Jan 21, 2012 6:23pm Jan 21, 2012 6:23pm
Quoting jarroo
Mike was referring to this post here:






Its the "This is Critical" post that many people refer to which is centered around trade management and entries.
thanks
  • #106,167
  • Jan 21, 2012 6:30pm Jan 21, 2012 6:30pm
Quoting vyky
Hi Mike,

Thanks for your comments.
I also thought about the lack of other confluence like EMA's, FIB's. The only reason this trade could be taken is purely based on the PA BUOB and the space above it.

Here is my trade plan....

Enter @ 1.3170
S/L @ 1.2870
Target = will be watching all the important FTA's for possible exits

Trade mainly based on the Daily Chart. I will be looking at the bar highs/lows and RN's for FTA's on the Daily Chart.

Mike, Can you please elabarate on this line.
Thanks
vyky
be careful taking such expensive trades...your risk reward is lower than 1:1 /if target 1.3400 will be reached/ , its countertrend entry and so on. downscale to smaller TF's and look for entry at 1.3000-3050 retest.
all is eternal - this is good news for people who loves bad news
  • #106,168
  • Jan 21, 2012 7:21pm Jan 21, 2012 7:21pm
Quoting jarroo
The Weekly levels have been great on the Gbp/Jpy . .

This is a great example of how you can take these Weekly levels down to a lower TF and trade them.

Looking at the Weekly levels on the Daily TF, we can see how effective trading PBT&CAorB on the Daily with a touch trade can be.

I'll let you figure out what the maximun draw down was on these trades and what potential gains were offered . .

Also, you could go down to say the 4 Hour or Hourly at these Weekly levels and see if there were any agreeable PA . .meaning, bearish or bullish...

Some very nice RR ratios there Jim.
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  • #106,169
  • Jan 21, 2012 7:44pm Jan 21, 2012 7:44pm
Quoting Iron666
I am using little bit different strategy (suply demand levels as you see on my picture) but you are absolutely right about trafic. Thanks for your comment and I will check J16's minimum requirements. But one question. Why do you use 365ema. Do you think it has some edit value?

Really needed to wait for price to react here to show what I meant about the 365. It is the same on larger TF also.

Here you go. Hope this helps
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  • #106,170
  • Jan 21, 2012 9:18pm Jan 21, 2012 9:18pm
Like the look of this Zone between 1.57091 & 1.56943

J16 classic PPZ combined with the Monthly HCR & Gap in the consolidation area.

The best of both worlds
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  • #106,171
  • Jan 22, 2012 2:03am Jan 22, 2012 2:03am
Gold may be arriving at an area we would be interested in.
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  • #106,172
  • Jan 22, 2012 2:18am Jan 22, 2012 2:18am
put french air liquid ai on your watchlist.
might break the 100 eur soon. will be good for some easy euro.
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meine augen sind die sterne
  • #106,173
  • Jan 22, 2012 3:35am Jan 22, 2012 3:35am
Pinbar
Please give this indicator. I apologize for my English. I'm from Ukraine.
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  • #106,174
  • Jan 22, 2012 8:04am Jan 22, 2012 8:04am
Quoting Elizer
Pinbar
Please give this indicator. I apologize for my English. I'm from Ukraine.
Sure, here you go.

You will have to alter the "Shift Lines" number from 50 to a lower number to view it as I have it in that screen shot. A lower number makes the lines longer a larger number shortens them.


No need to apologize about your English, you should hear how bad my Chinese is.

The Chinese New Year is about to begin in 2 hours, it has been like living in a war zone here since 6:30 am this morning with all the firecrackers and fireworks.

I just took this photo from my apartment window on the 21st floor, you can see how close they are. Yeah, its pretty and fun but, all day drives one totally insane. It is like living in the middle of a war zone.
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  • #106,175
  • Jan 22, 2012 8:36am Jan 22, 2012 8:36am
Quoting Pinbar
Sure, here you go.

You will have to alter the "Shift Lines" number from 50 to a lower number to view it as I have it in that screen shot. A lower number makes the lines longer a larger number shortens them.


No need to apologize about your English, you should hear how bad my Chinese is.

The Chinese New Year is about to begin in 2 hours, it has been like living in a war zone here since 6:30 am this morning with all the firecrackers and fireworks.

I just took this photo from my apartment window on the 21st floor, you can see how close they...
How is the weather in your plance in China now ? in Miuns ?
Still people are out and playing with fire crackers ?
  • #106,176
  • Jan 22, 2012 8:38am Jan 22, 2012 8:38am
Hello all,
So, I read the thread(well most of it) and watched the videos inthe guest section, and I think I am ready to start the James16 challenge.My question to you is what am I shooting for?For me ending up with a litlle profit, or even at breakeven would be a huge improvement, but I want to do this right.So what kind of accuracy would you think is reasonable with this method?

About Me: I´m not new to trading at all, in fact I´ve been trading on and of for 4years now.Didn´t have a lot of succes though,I´ve blown more than 5 accounts during this time, occasionaly I had some short term gains(I´ve been up as much as 40% in three days) but over the long haul I always crashed.Despite this I am still commited to make this work for me, and this time I am going to approach this like a bussines and not like playing the lottery
Greetings StockEX
( Repost (was being reviewed for a while))
  • #106,177
  • Jan 22, 2012 8:41am Jan 22, 2012 8:41am
Quoting cprao
How is the weather in your plance in China now ? in Miuns ?
Still people are out and playing with fire crackers ?

Yeah, Harbin and it is Minus 25C right now
  • #106,178
  • Jan 22, 2012 8:43am Jan 22, 2012 8:43am
Quoting stockEX
Hello all,
So, I read the thread(well most of it) and watched the videos inthe guest section, and I think I am ready to start the James16 challenge.My question to you is what am I shooting for?For me ending up with a litlle profit, or even at breakeven would be a huge improvement, but I want to do this right.So what kind of accuracy would you think is reasonable with this method?

About Me: I´m not new to trading at all, in fact I´ve been trading on and of for 4years now.Didn´t have a lot of succes though,I´ve blown more than 5 accounts during...

Sounds like your money management was non existent if you were up 40% in three days and this is what blew the accounts.

If you have read the thread, then you should already know what you are shooting for.

3 successful months of demo, on the weekly and daily time frames.
  • #106,179
  • Jan 22, 2012 8:44am Jan 22, 2012 8:44am
hey guys... i wish to ask to the experienced traders there how they are used to monitor theirs open trades. i mean, i'm doing well in selecting A++ trades and i've already developed a good trade managment method, BUT i can't be always in front of the charts and sometimes this can be dangerous to my trading.

when i pick an entry, i'm used to set my stop and a good tp level and let the trade float. most of the times i split the trade in 2 different trades managed differently: the first half with a pre-definited tp and the second half with much more room to breath. then, i monitor the trade as long as i can to see when it reaches a profit of +40 pips (or so) and so i move my stop to BE. i'm ultra picky with my entries and with my trade management, i'm focused on not losing... (as said much times before, this is crucial to become successful in this business).

i found a great EA that manage automatically the trades (which have a lot of settings): http://www.forexfactory.com/showthread.php?t=89371
with this tool i can set the EA to manage the trade the same way i'm used to do manually. but i'm afraid that in some cases (long run trades) you still have to monitor the trade to move your stop manually at key levels, so obviously i still take an eye on my trades from time to time.

so my question here is, how do you manage your trades and how do you monitor them in order to move your sl or taking partial profits??
  • #106,180
  • Jan 22, 2012 8:58am Jan 22, 2012 8:58am
Quoting Pinbar
Yeah, Harbin and it is Minus 25C right now
Vow !! -25c.. I can't even think of getting out of the house.
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