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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

  • #106,361
  • Jan 26, 2012 4:56am Jan 26, 2012 4:56am
Quoting extremerrage
sound like it will creat a hikkake pattern on the 4 h
what's one of those?
  • #106,362
  • Jan 26, 2012 4:59am Jan 26, 2012 4:59am
well some of them use to call it a fakey or false break out ....
Attached File(s)
File Type: pdf hikkake.pdf   165 KB | 850 downloads
  • #106,363
  • Jan 26, 2012 4:59am Jan 26, 2012 4:59am
Quoting zamfir
Pinbar, do you trade for a living?

Not yet but, plan to.
Working on the 50K account.
  • #106,364
  • Jan 26, 2012 5:12am Jan 26, 2012 5:12am
According to the criteria in the PDF the second bar has to have a higher low, in which case we would not trade it as it would not be either a DBLHC or a BUEOB. Could still be a false breakout though.

That was almost the HIKKAKE in the works. LOL
Attached Image (click to enlarge)
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  • #106,365
  • Jan 26, 2012 5:21am Jan 26, 2012 5:21am
Quoting extremerrage
well some of them use to call it a fakey or false break out ....
Thanks, extremerrage. Great article.

I am becoming addicted of this thread.
  • #106,366
  • Jan 26, 2012 5:32am Jan 26, 2012 5:32am
Think I am going to demo this as a TT on the H1 with a 20 pip SL.

An hourly close below and I am out.


Reasons for the TT are, a strong daily uptrend, H4 close above and the H1 BUEOB.
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  • #106,367
  • Jan 26, 2012 5:36am Jan 26, 2012 5:36am
Quoting Pinbar
Reasons for the TT are
I'm sorry, what is TT?
  • #106,368
  • Jan 26, 2012 5:45am Jan 26, 2012 5:45am
Quoting Pokemon
I'm sorry, what is TT?

it is a Touch Trade meaning, when price touches this are where I have the green line which is 0.82064

I am in.

May not work out but, we shall see what happens and then work on it.

You will note a 3 pip difference in the actually price I bought at when price touched this area, that is because of the spread.
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  • #106,369
  • Jan 26, 2012 5:57am Jan 26, 2012 5:57am
I am just curios how many trades you take in an mounth? i take 10-11 trades in entire mounth
Si stiu, stiu deja, intr-o zi o sa ajung cineva...
  • #106,370
  • Jan 26, 2012 6:03am Jan 26, 2012 6:03am
Quoting smozmo
I am just curios how many trades you take in an mounth? i take 10-11 trades in entire mounth

Around half of that, on my live account that is.

This is a new methodology I am trying to get down.


We got the H1 signature albeit not a great pin.
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  • #106,371
  • Jan 26, 2012 6:04am Jan 26, 2012 6:04am
Quoting extremerrage
well some of them use to call it a fakey or false break out ....
thanks.
  • #106,372
  • Jan 26, 2012 6:08am Jan 26, 2012 6:08am
Quoting Pinbar
it is a Touch Trade meaning, when price touches this are where I have the green line which is 0.82064

I am in.

May not work out but, we shall see what happens and then work on it.

You will note a 3 pip difference in the actually price I bought at when price touched this area, that is because of the spread.
Thanks for explanation.
  • #106,373
  • Jan 26, 2012 6:16am Jan 26, 2012 6:16am
IF this can develop into a red one i'm in.... prolly take it now if it was closing like this to be honest (well almost - prefer stronger close) a lot can happen in an hour and a bit.

Attached Image (click to enlarge)
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  • #106,374
  • Jan 26, 2012 6:22am Jan 26, 2012 6:22am
Quoting beebolbod
IF this can develop into a red one i'm in.... prolly take it now if it was closing like this to be honest (well almost - prefer stronger close) a lot can happen in an hour and a bit.

Attachment
H8 can be very powerful people.... i didn't take the long position from swing low cos the H4 PB wasnt a PB.... look at it on H8.... a beauty.

I'm cross i didn't take it - i'm happy i just learned something.
  • #106,375
  • Jan 26, 2012 6:28am Jan 26, 2012 6:28am
Here is a trade I took yesterday . I am posting it more in sense of capital handling , than for an example of a nice trade . What i mean is that it was during the inactive sessions , when i usually sleep and don't open trades (took the idea from Mike ). So what I did was to cut risk to 0.15% . I do this sometimes when i want to exercise my trade management . No better way than some forward testing
So what do you guys think ? Do you endorse such kind of experience ?

This zone I was watching anyway , but didn't got a nice trigger to enter a full position .
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  • #106,376
  • Jan 26, 2012 6:39am Jan 26, 2012 6:39am
Quoting Rust
Here is a trade I took yesterday . I am posting it more in sense of capital handling , than for an example of a nice trade . What i mean is that it was during the inactive sessions , when i usually sleep and don't open trades (took the idea from Mike ). So what I did was to cut risk to 0.15% . I do this sometimes when i want to exercise my trade management . No better way than some forward testing
So what do you guys think ? Do you endorse such kind of experience ?

This zone I was watching anyway , but didn't got a nice trigger to enter...
Nicely done
  • #106,377
  • Jan 26, 2012 6:43am Jan 26, 2012 6:43am
hope this current bar gets bullish and closes above 1.6015.... super 8H pin formed off BRN if it does.

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  • #106,378
  • Jan 26, 2012 6:50am Jan 26, 2012 6:50am
Quoting beebolbod
Nicely done
Still not done I am fighting a period of many 1:1+ trades turn to breakeven

Me a greedy bas*ard
  • #106,379
  • Jan 26, 2012 7:12am Jan 26, 2012 7:12am
Quoting Rust
Still not done I am fighting a period of many 1:1+ trades turn to breakeven

Me a greedy bas*ard
Me too... it's my biggest problem with trading. That and patience. trying to iron that out on demo and then micro.
  • #106,380
  • Jan 26, 2012 7:16am Jan 26, 2012 7:16am
Should be out of this trade after the H1 close below.

I am going to give it a little more room and use the H4 CB as the take out.

The reasons for this are, 1 strong daily UT, H4 close above, unconvincing H1 close below.
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