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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

  • #107,041
  • Feb 8, 2012 7:33am Feb 8, 2012 7:33am
Quoting deankenny21
Another one on my radar

Consolidated for a little while now, got the EMA above, and could Break below and close below. If it does its then the WIPG matter.
I like it, Dean . .A breakout of that consolidation ..in ether direction . .could trend for a nice little run . .
Indicators show the past. Price Action "Indicates" the future.
  • #107,042
  • Feb 8, 2012 7:40am Feb 8, 2012 7:40am
Quoting beebolbod
Yep but mine is absolutely true - question is what exactly am I

trader - yes
failure - sometimes
successful - sometimes
nuts - yes
FF addict - yes(but days like today I begin to ask myself why)
  • #107,043
  • Feb 8, 2012 7:43am Feb 8, 2012 7:43am
Quoting deankenny21
Update on the audjpy trade i took. Reached the 2nd trouble area/resistence, im currently watching closely at this area whther to stay in the trade or take all profits, my SL is safe and has profits locked in if something crazy happens, but this was a nice trade from the start

Mike whats your views on this 2nd area its reached.
I like your "three confluences rule" . .follow those targets to the moon meaning placing stops under the targets once there is a close above . .nice trade . .
Indicators show the past. Price Action "Indicates" the future.
  • #107,044
  • Feb 8, 2012 7:52am Feb 8, 2012 7:52am
Quoting jarroo
video . . .

http://www.youtube.com/watch?v=7j3uE...ature=youtu.be

Anyone take it at the 1.3234?. . ..if not, its always better confirmation that this level has truly turned to Support if we get some Bullish PA at this level.
Indicators show the past. Price Action "Indicates" the future.
  • #107,045
  • Feb 8, 2012 8:17am Feb 8, 2012 8:17am
I think GJ pinbar is too big.

EUR/JPY pinbar is nice for me. Please rate it.

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  • #107,046
  • Feb 8, 2012 8:41am Feb 8, 2012 8:41am
Quoting stewrigh
Aussie getting interesting.

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Still watching and getting more interested.

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  • #107,047
  • Feb 8, 2012 8:46am Feb 8, 2012 8:46am
i'm already in on h4 timeframe (with low risk) on USDJPY and GBPJPY.

i don't like EURJPY pin bar, and location isn't the best. i can't also define a good target area. however let's see how it will close on daily.

+55 pips on GBPJPY (stop @ BE)
-5 pips on USDJPY
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  • #107,048
  • Feb 8, 2012 8:53am Feb 8, 2012 8:53am
Quoting Greenhaze
It looks really nice , doesn't it? If we manage to break those highs then 0.9160 would look good as a first target. I'm playing it the same exact way. Good luck to us
This is giving quite a whipsaw so far. I'm tightening up my stop a little. I agree with what Mike said about the TBL and that a break would be a nice continuation play. Hoping to see this retrace from another PA to ride down!

Lots of great trades in the hourly across many charts. Sadly, they ALWAYS occur around 4am at my time zone...the magic hour as it would appear.
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  • #107,049
  • Feb 8, 2012 9:36am Feb 8, 2012 9:36am
AUDNZD

yesterday we had a BUOB right off the 50 retrace with a close above PPV. But the 365EMA was in the way of me pulling the trigger, today a small upmove has occured, if it closes above the ema succesfully i will be looking to enter. Only worry is going into the previous consolidation area. Would need to look for more confluences to get a pass in my book, but just throwing this one out there for some opinions.
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  • #107,050
  • Feb 8, 2012 9:47am Feb 8, 2012 9:47am
Quoting Pokemon
I think GJ pinbar is too big.

EUR/JPY pinbar is nice for me. Please rate it.

Attachment
Fairly pointless speculating on a daily bar not even half way through US session. If you're looking for daily PA at this location, you'll need to wait for the close.

In addition, a pinbar that is too big? Never heard that one before.
  • #107,051
  • Feb 8, 2012 9:48am Feb 8, 2012 9:48am
EURUSD

Similar story, I think this was gone over in some incredible detail in the youtube video posted also.

price consolidated for a while and now have a break through and above the PPV, it held above yesterday, made the retrace back to the PPV and got an instant reaction showing true support, again another on my radar.
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  • #107,052
  • Feb 8, 2012 10:03am Feb 8, 2012 10:03am
Quoting Sgrb1
Fairly pointless speculating on a daily bar not even half way through US session. If you're looking for daily PA at this location, you'll need to wait for the close.
It was just my assumptions. I didnt make any orders.

Quote
In addition, a pinbar that is too big? Never heard that one before.
Big pin bar=big stop-loss - right?
I don't like big risk.
  • #107,053
  • Feb 8, 2012 10:06am Feb 8, 2012 10:06am
Quoting Pokemon
It was just my assumptions. I didnt make any orders.


Big pin bar=big stop-loss - right?
I don't like big risk.
Not necesarily Pokemon.
2 reasons

1. Every trade should be the same risk no matter what the stop loss size, for example if the stop loss is 200 pips i will lose $2000, if the stop loss is 20pips i will still lose $2000. No matter what the stop loss the risk percentage should always remain the same.

2. When i get a big bar, i place a fibo across the whole bar, and go down a couple time frames and take some PA off one of the fib levels, i did one of these to perfection on EUR AUD a few pages back.
  • #107,054
  • Feb 8, 2012 10:33am Feb 8, 2012 10:33am
been watching this a while now....

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  • #107,055
  • Feb 8, 2012 10:33am Feb 8, 2012 10:33am
Quoting Pokemon
Big pin bar=big stop-loss - right?
I don't like big risk.
jim once said "longer nose means better trade".

by the way, if i pick up a pin bar with 200 sl or one with a 100 pips sl, my % risk would be the same. you just need to adjust your lot position. for example: on the first you trade with 1 lot, on the second you trade it with 2 lots.

if both fails, the % of account lost is the same.
  • #107,056
  • Feb 8, 2012 10:34am Feb 8, 2012 10:34am
Quoting deankenny21
Not necesarily Pokemon.
2 reasons

1. Every trade should be the same risk no matter what the stop loss size, for example if the stop loss is 200 pips i will lose $2000, if the stop loss is 20pips i will still lose $2000. No matter what the stop loss the risk percentage should always remain the same.

2. When i get a big bar, i place a fibo across the whole bar, and go down a couple time frames and take some PA off one of the fib levels, i did one of these to perfection on EUR AUD a few pages back.
Thanks!
  • #107,057
  • Edited 11:44am Feb 8, 2012 10:35am | Edited 11:44am
Quoting R3ta
jim once said "longer nose means better trade".

by the way, if i pick up a pin bar with 200 sl or one with a 100 pips sl, my % risk would be the same. you just need to adjust your lot position. .
This is VERY important! If anyone doesn't understand Money Mgmt, please PM me and I will dig up a good link on Forex Factory that diallist did

Best
Mike

edit*

here is the link
http://www.forexfactory.com/showthread.php?t=6948
  • #107,058
  • Feb 8, 2012 10:36am Feb 8, 2012 10:36am
Quoting mbqb11
This is VERY important! If anyone doesn't understand Money Mgmt, please PM me and I will dig up a good link on Forex Factory that diallist did

Best
Mike
yes i remember reading that, and as said earlier, the number 1 most important is to always risk the same % per trade no matter what, as this will make it easier to control the money management and targets goals etc
  • #107,059
  • Feb 8, 2012 10:41am Feb 8, 2012 10:41am
Quoting biDc
This is giving quite a whipsaw so far. I'm tightening up my stop a little. I agree with what Mike said about the TBL and that a break would be a nice continuation play. Hoping to see this retrace from another PA to ride down!

Lots of great trades in the hourly across many charts. Sadly, they ALWAYS occur around 4am at my time zone...the magic hour as it would appear.
Seeing this whipsaw on h1 i decided to cut the trade with tiny loss 2 hours ago.
No need to keep it when after each break higher sellers push the price back below the 0.9137.
  • #107,060
  • Feb 8, 2012 11:03am Feb 8, 2012 11:03am
daily pinbar on german continental. some s/r zone o the left. we need bearish price action on s&p to see it drop.
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