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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

  • #108,761
  • Mar 13, 2012 10:29pm Mar 13, 2012 10:29pm
Quoting james16
IF THAT DOESNT GIVE ALL OF YOU CONFIDENCE THEN IM NOT SURE WHAT TO DO.

HERE WAS A QUESTION I GOT TODAY AND I THOUGHT MY ANSWER MIGHT HELP SOME OF YOU.

"Im seeing some of the same setups that you do, so why am I not trading them? Am I not trusting myself ? Am I worrying about the outcome of an individual trade, I hope not. Was I being too picky with this setup? I assume you weren't worried about the BRN then ? This is where the discretionary part seems to become so difficult.


I didn't trade the AUDUSD either, was only a screenshot...
mindset thing

thanks a lot for this post Merlin,

hope some of the rookies gonna include it into their trading as well...

nice trades
Hero calls followed by margin calls...
  • #108,762
  • Mar 13, 2012 11:03pm Mar 13, 2012 11:03pm
Quoting james16
i know buddy but god ive tried to avoid that route.
Im not ready to meet cavuto. lol
cavuto?
this one or this?

thanks for the avalanche of charts from you lately, Sir. looking forward to more of your posts!
  • #108,763
  • Mar 14, 2012 12:45am Mar 14, 2012 12:45am
Very few people post failed trades here (I think Jim shows us the odd failure). Is that 'cos nobody gets them? I doubt it. Who's brave enough to post a few failures and show us. I think we could all learn from some failures as much as the successes we see every day here (i'm guilty too although i've posted fails before).....

I'll go first.... yesterday - GBPCAD. Entered on a dubious 4H pin after big move down (which Phanti cashed in on). Looking for support from RN and previous demand zone. I had a long trade in the demand zone under 1.55 lined up which didn't trigger (had it done so it could have made 90+p). So double fail.

What did i learn? I need bigger signs that support is holding. PATIENCE. That's my biggest fault still. Be a bit more picky. I'm at the stage where i very rarely get the direction/move wrong but the stops/entry's can be a bit off. Practice.

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  • #108,764
  • Mar 14, 2012 1:34am Mar 14, 2012 1:34am
Failed trade?
Sure.

Unsuccessfull shorting of EUR/JPY.

We came back up into resistance area after the previous fall. This area consists of a "support-turned-resistance" area, RN and 365 ema.
My signal was the red doji. The problem is, that this is not a top entry signal, so if I take it, it has to be close to the resistance area, so I can have a tight stop.
Which was not the case and thats the main mistake I see in this setup.


Hope somebody will comment, as I am new to this.
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Thoughts are things
  • #108,765
  • Mar 14, 2012 2:43am Mar 14, 2012 2:43am
Quoting dan89
Pair im keeping an eye on. could take a few days/week before something sets up but im happy to wait.

looking for a break and retest of the trend line, would like to see a retest of the .8300 round number just below the trend line for added weight.

Attachment
Update:

Could take a few days for something to set up still

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other pairs im keeping an eye on. looking for breaks and pullbacks (+pa and some confluence may be)

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  • #108,766
  • Mar 14, 2012 2:52am Mar 14, 2012 2:52am
i had one yesterday that i had on my post list. it was sent out in a video to members. i will post it later today or a member could do it for me. lol

Quoting beebolbod
Very few people post failed trades here (I think Jim shows us the odd failure). Is that 'cos nobody gets them? I doubt it. Who's brave enough to post a few failures and show us. I think we could all learn from some failures as much as the successes we see every day here (i'm guilty too although i've posted fails before).....

I'll go first.... yesterday - GBPCAD. Entered on a dubious 4H pin after big move down (which Phanti cashed in on). Looking for support from RN and previous demand zone. I had a long trade in the demand zone under 1.55 lined...
  • #108,767
  • Mar 14, 2012 2:54am Mar 14, 2012 2:54am
i thought you might have a little fun with that. lol

Quoting supremeChaos
cavuto?
this one or this?

thanks for the avalanche of charts from you lately, Sir. looking forward to more of your posts!
  • #108,768
  • Mar 14, 2012 2:56am Mar 14, 2012 2:56am
Quoting beebolbod
Very few people post failed trades here (I think Jim shows us the odd failure). Is that 'cos nobody gets them? I doubt it. Who's brave enough to post a few failures and show us. I think we could all learn from some failures as much as the successes we see every day here (i'm guilty too although i've posted fails before).....

I'll go first.... yesterday - GBPCAD. Entered on a dubious 4H pin after big move down (which Phanti cashed in on). Looking for support from RN and previous demand zone. I had a long trade in the demand zone under 1.55 lined...
I do post failed trades , just lately there aren't that much
Actually I post the more trades on an early phase , where i don't know if I am posting a fail trade or a good one
  • #108,769
  • Mar 14, 2012 2:59am Mar 14, 2012 2:59am
Quoting james16
i had one yesterday that i had on my post list. it was sent out in a video to members. i will post it later today or a member could do it for me. lol
Hi Jim ,
You had just one failed out of all recent posted ?
This sounds like untouchable for all being touch trades (whew)
  • #108,770
  • Mar 14, 2012 3:20am Mar 14, 2012 3:20am
Quoting james16
i had one yesterday that i had on my post list. it was sent out in a video to members. i will post it later today or a member could do it for me. lol
i know Jim, that's one reason why i respect your posts so much. Failure is a huge part of trading. Dealing with it is important, learning from it is even more so.
  • #108,771
  • Mar 14, 2012 3:40am Mar 14, 2012 3:40am
Quoting Rust
Actually I post the more trades on an early phase , where i don't know if I am posting a fail trade or a good one
That takes balls Rust.... nice 1.
  • #108,772
  • Mar 14, 2012 3:50am Mar 14, 2012 3:50am
Quoting Quezoy
Failed trade?
Sure.

Unsuccessfull shorting of EUR/JPY.

We came back up into resistance area after the previous fall. This area consists of a "support-turned-resistance" area, RN and 365 ema.
My signal was the red doji. The problem is, that this is not a top entry signal, so if I take it, it has to be close to the resistance area, so I can have a tight stop.
Which was not the case and thats the main mistake I see in this setup.


Hope somebody will comment, as I am new to this.
What was your reason for shorting it?
I do not see any PA on the chart suggesting a short trade.
If you look at the monthly chart, you will a flip area at 108.345.
We can see this area has acted as both support and resistance.
The weekly time frame shows a bullish PB which, we do not want to trade against on the daily TF without any bearish PA.

Try trading in the direction of any monthly or weekly PA you see.
Hope this helps.
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  • #108,773
  • Mar 14, 2012 3:53am Mar 14, 2012 3:53am
Quoting beebolbod
That takes balls Rust.... nice 1.
I don't think so . The thread is for learning . Nothing to gain if you post just winners.
No competition , so why no posting losses
  • #108,774
  • Mar 14, 2012 3:57am Mar 14, 2012 3:57am
It feels good to have an identical chart with you Sir. Thank you and the good fellas here for everything.

Cheers.
Ralph
Quoting james16
CHART
SNR with Price Action...
BitCrossNG Return Today: na
  • #108,775
  • Mar 14, 2012 4:15am Mar 14, 2012 4:15am
Good area here.... PBT+CA with retest could be worth a long. Lots of ways to play it, all depending on the clues we get along the way... lots of touches of 90 tell me it wants it.
38.2 fib from big down move line up directly with 91 which is where our previous rejections have occurred so our FTA, possibly where our retest will originate leaving path clear for big up move. Endless possibilities, endless outcomes. Or are there... it's either up, or down

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  • #108,776
  • Mar 14, 2012 4:17am Mar 14, 2012 4:17am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Hey guys, does anyone have the indy which when posted onto any chart will show a list of PA in different Timeframes in a table format on that chart?
I have seen the enemy, and it is me.
  • #108,777
  • Mar 14, 2012 4:20am Mar 14, 2012 4:20am
Quoting Jey
Hey guys, does anyone have the indy which when posted onto any chart will show a list of PA in different Timeframes in a table format on that chart?
Like this?
http://www.forexfactory.com/showthread.php?t=198729
Thoughts are things
  • #108,778
  • Mar 14, 2012 4:24am Mar 14, 2012 4:24am
@Pinbar: Tnx for having a look at my trade. The reason for shorting was the doji, close to previous resistance (RN, 365 ema).
But yes, I've messed it up. I guess I wanted to see something, I wanted a setup and this came out of it.
Thoughts are things
  • #108,779
  • Mar 14, 2012 4:26am Mar 14, 2012 4:26am
  •  Jey
  • | Joined Jun 2009 | Status: Market Slave-Overworked/Underpipped | 283 Posts
Thanks Q, but not this one. I have seen one where there are lists of PA in 3 different columns i.e Weekly, Daily and 4H where the PA is listed out in text format, not in chart form. The whole list is in text format. I just couldn't find it now.
I have seen the enemy, and it is me.
  • #108,780
  • Edited 5:02am Mar 14, 2012 4:29am | Edited 5:02am
Interested if 1.0400 acts as resistance and give me some nice PA for short play

EDIT update : and it did ! pinbar shape inside bar double low wow what a combination hahaha
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