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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

  • #107,061
  • Feb 8, 2012 1:04pm Feb 8, 2012 1:04pm
Quoting mbqb11
That's more then enough for some people. James often gets his stop to b/e in the 20-30 pip range with some off the table. But likewise in this scenario we have to babysit our trade both ways(if it breaks we don't want to take a huge loss on something like this). I prefer multi bar highs/lows for this reason cause often the "burst" out is strong because of the orderflow that piles up under these levels

Here are a few posts on them

http://www.forexfactory.com/showthre...ti#post4430412

http://www.forexfactory.com/showthre...ti#post4426829...
Verry useful post, thanks Mike
Si stiu, stiu deja, intr-o zi o sa ajung cineva...
  • #107,062
  • Feb 8, 2012 1:27pm Feb 8, 2012 1:27pm
hi guys...this is third time im trying to shine through here)))))
is it PIN on gbpjpy now???
  • #107,063
  • Feb 8, 2012 1:52pm Feb 8, 2012 1:52pm
Quoting mohowk
hi guys...this is third time im trying to shine through here)))))
is it PIN on gbpjpy now???
You cant say until its officially closed, and it has a few hours yet, patience my friend.
  • #107,064
  • Feb 8, 2012 2:05pm Feb 8, 2012 2:05pm
Quoting mohowk
hi guys...this is third time im trying to shine through here)))))
is it PIN on gbpjpy now???
Hey Mohowk

As it is right now(based on the chart I posted) it is a pinbar, but with a very weak close for me. It's almost more of a neutral bar(indecision).

We can see price continuing to swivel around the PPZ at the BRN of 120.00. So we see we are now starting potentially another "box"

This means we would be trading in a sideways market(which is ok if you choose) but something to be aware of. Consolidation boxes are tricky because the trouble areas are crucial.

Notice the white dotted lines are also PPZ within each consolidation box. These are trouble areas we must be aware of

As DK said we got some time before this closes but as is it's not too convincing with the close

Welcome to the thread
Mike
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  • #107,065
  • Feb 8, 2012 2:12pm Feb 8, 2012 2:12pm
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

edit*

here is the link
http://www.forexfactory.com/showthread.php?t=6948
absolutely golden! i'm surprised this wasn't on first post!
  • #107,066
  • Feb 8, 2012 2:13pm Feb 8, 2012 2:13pm
Quoting deankenny21
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
I fully understand what you guys talk about, but isnīt it easier with a bigger account. I still demo trade and yes it is easy to have a 10, 20, $50000 balance, but when you talk about real money, i will only start small. I find I just have to be SUPER picky about what I trade. Good for learning discipline.
  • #107,067
  • Feb 8, 2012 2:16pm Feb 8, 2012 2:16pm
Assuming we look at it now, it's protruding quite far into the previous bar to be a perfect looking one (i think).... what do some other (more experienced) people think of it's shape?
I'd want it closing lower than it is now to look better.

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Pros...
Nice level.
Off 150EMA and minor PPZ.
Nice tail with big rejection.

Cons...
Into traffic.
Protruding too far into previous bar for ideal shape.
FTA's all over the place.

I dont know if i'd take this to be honest although i'm sure i should.... i'm picking some bad stuff lately and missing the good ones.... this is just my thoughts (which i'd appreciate feedback on )
  • #107,068
  • Feb 8, 2012 2:28pm Feb 8, 2012 2:28pm
Many thanks all of you,guys))) again gbpjpy
i can see there confluence 150 MA,50%fibo and RN...and more - gbp have to correction after trip to his high
agree???
  • #107,069
  • Feb 8, 2012 2:28pm Feb 8, 2012 2:28pm
Looking at that again, it's perfect TT teritory... v small SL other side of that PPZ could have netted a decent win short for very good RR ratio.
  • #107,070
  • Feb 8, 2012 2:52pm Feb 8, 2012 2:52pm
Quoting Pokemon
It was just my assumptions. I didnt make any orders.
Yes but you're planning a trade on a bar that is no where near closing. Which is pointless.

Quoting Pokemon
Big pin bar=big stop-loss - right?
I don't like big risk.
Sounds like you need to do some reading on risk management.
  • #107,071
  • Feb 8, 2012 2:58pm Feb 8, 2012 2:58pm
wow, lot of people discussing on my favourit cross.
My charts.

Pro: location, long trend, some ppz., and the nose touched the upper BB [18,2].

Con:we are in a box, and, as mike said, there are some trouble in the 120 area, so...maybe it could be a very short journey [if....]
I give it a try.

healthy advice: i'am a newbie, not a "pro" [or, a senior, lol], i am in demo, so don't trade my charts
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  • #107,072
  • Feb 8, 2012 3:37pm Feb 8, 2012 3:37pm
I have just returned from work to catch up on todays posts and cant believe what has gone on in here today. Deankelly21 I find all your posts very informative and helpful please keep posting mate
Thank you
  • #107,073
  • Feb 8, 2012 3:39pm Feb 8, 2012 3:39pm
i have picture like this...
PPZ,150ma,TL,RN,50% fibo
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  • #107,074
  • Feb 8, 2012 3:51pm Feb 8, 2012 3:51pm
Quoting mbqb11
Ok that was a fun few hours, but seriously we are all adults. Let's control ourselves. We have a lot of people and personalities come here. Remember this thread is a safe haven for new traders. Let's always keep that as our priority and we won't have these bouts. If you want to ignore someone put them on your ignore list. I have a few on mine too


Anyway back to charts.

TBL(two bar low) when it breaks a good sign of continuation with the down move and parity above us. Where is price going?
Hey Mike,

This chart/post made my day. The way you analyzed it was the way i analyzed mine(I broke a smile)

Always good reading ur posts...always good. thanks.

Ralph
SNR with Price Action...
BitCrossNG Return Today: na
  • #107,075
  • Feb 8, 2012 5:19pm Feb 8, 2012 5:19pm
Quoting beebolbod
been watching this a while now....

Attachment
Nice! Let's not ignore the exotics.

Edit: No, I did not catch that Pin Bar
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  • #107,076
  • Feb 8, 2012 5:32pm Feb 8, 2012 5:32pm
Quoting haircut
I have just returned from work to catch up on todays posts and cant believe what has gone on in here today. Deankelly21 I find all your posts very informative and helpful please keep posting mate
Thank you
I couldn't agree more,I've had a run in with Mr Pinbar in the past and as a result I'm just a lurker.Pinbar is a prolific poster and self appointed moderator who can't take any criticism...he has some major issues and needs to get a life or better still start his own thread and then he can call the shots!
  • #107,077
  • Feb 8, 2012 7:13pm Feb 8, 2012 7:13pm
Quoting 5.25
Hey Avanish...I would be more inclined to trade the retracement of the BEOB and enter at 1747.93 as opposed to the traditional break of the bar.
Quoting fascist
...a set up like this in my experience you aren't going to get your order filled...
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  • #107,078
  • Feb 8, 2012 7:43pm Feb 8, 2012 7:43pm
Quoting deankenny21
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.
Hi Dean,
When u say PPV, are u referring to PPZ? I read abt the post where u mention abt risking same amt every trade regardless of SL. ARe u using any tools that help u with some quick calculations as u are making the trade, or the calculations are all done in your head, lol?
  • #107,079
  • Feb 8, 2012 8:13pm Feb 8, 2012 8:13pm
Quoting Fx7877
Hi Dean,
When u say PPV, are u referring to PPZ? I read abt the post where u mention abt risking same amt every trade regardless of SL. ARe u using any tools that help u with some quick calculations as u are making the trade, or the calculations are all done in your head, lol?
yes sorry my apologies, PPZ is what i mean.

I use oanda, so its all done for me for example

if i have an account size of $1033
and i only risk 1% per trade
then if my SL hits i will lose $10.33
good thing about oanda is that you can trade 0.1cents a pip a time, so i can change the unit size by 1 tiny unit at a time, and a box shows how much i lose if it hits SL, so if it says $10.90 i reduce a little till i get my required amount, this is one of the biggest reasons i stuck with oanda, ive never had any problems with manipulation with them, always pay out on time, and being able to trade in units rather than lots really helps the money management side of things, especially with the smaller accounts.
  • #107,080
  • Feb 8, 2012 8:16pm Feb 8, 2012 8:16pm
Quoting riandouma
I fully understand what you guys talk about, but isnīt it easier with a bigger account. I still demo trade and yes it is easy to have a 10, 20, $50000 balance, but when you talk about real money, i will only start small. I find I just have to be SUPER picky about what I trade. Good for learning discipline.
please check my post above, with oanda you can trade in units, which is excellent for smaller accounts, you can trade right down to the cent with units, therefore making money management alot easier with the smaller accounts.
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