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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

  • #110,221
  • Apr 13, 2012 5:45am Apr 13, 2012 5:45am
Quoting PhAnTi'
short trail of how i do prepare for my trading decisions....

dont have any time right now to do this in detail, i will so while eastern and post it next few days.... just had a couple of minutes and i thought there might some that find this useful....

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buy low - sell high
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[i]wait for the very best setups to...

Wow . . great post, PhAnTi'.

I know this took some time to put together . .well done.

Thanks . . .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #110,222
  • Apr 13, 2012 6:07am Apr 13, 2012 6:07am
Quoting S_Ferrer
Fantastic trade and a fantastic entry. This stuff really works, eh?
Absolutely.. Im not near the skill level as most seniors here. But lots and lots of practice is what is needed.
  • #110,223
  • Apr 13, 2012 6:41am Apr 13, 2012 6:41am
Quoting Rust
Hi Bee ,
So it was you who turned this down with that sells
We do like to take opposite trades with you , don't we buddy hahaha
Back in your direction! I closed it all now. Chart shows noob mistake which stole some profits but it's all good. Enough taken. Retrace of the big bear bar might provide new options but it's a bit different now.... only watching now.
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  • #110,224
  • Apr 13, 2012 6:54am Apr 13, 2012 6:54am
Quoting aslam
hi GHous.


can u tell some thing on trouble area,s and the strategy of break-out u currently using for ur trades.
Hey Aslam,

Mike's done a wonderful video which is up in the guest section of the PF.

here's the link (look in mbqb11's section for "traffic vs space the basics")

He covers the basics of it pretty well. If anything is still unclear I'll be more than willing to take it up with you. Just let me know

Regarding my current strategies I don't think going into the depth here is a good idea since it differs from the conventional stuff to some extent at least. This thread has always been about the basics and I want it to stay that way.

I am working on a blog where I'll document these methods along with trades and stuff for people interested in wanting to look at them. And I'll give them full access for a meager $99.99 per month. (Eek! ) lol

g.
I believe . . .
  • #110,225
  • Apr 13, 2012 7:19am Apr 13, 2012 7:19am
Quoting tulasi
hi..
thanks evreyone over here for the great information on price action.
am new to pa.
i have a doubt regarding what time to use ..i.e gmt close or newyork close for a daily close..
i know that newyork close is regarded as close of currency market...

so i think the pa based on daily chart having 5pm newyork time as the close of candle is correct to follow..am i right?

if so then the same is implied for 4 hour candles..that is 4 hr candles with start times as 5pm, 9 pm,...are to be followed..right?...

please clarify me..
thankyou...
Hey T

It really is up to you is the final answer on this one. I like a 5pm close for what you said above. id on't think my trading would significantly change in anyway if I used a 6 or 7pm (something close). But like you I like that 5pm close feel. As for four hour candles some might make the argument above, I instead watch 4 different brokers so I can get a look at all the different closes. The more you do this you realize that it's not the bar that makes or breaks a setup but everything else(the story, confluence) PLUS the bar that make a setup. Price is still price.

So do what is comfortable for you and you will be ok

Best
Mike
  • #110,226
  • Apr 13, 2012 7:36am Apr 13, 2012 7:36am
Quoting ghous
Hey Aslam,

And I'll give them full access for a meager $99.99 per month. (Eek! ) lol

g.
Dont worry anybody , as far as i know him , He wont charge a Dime to anyone !
Human
  • #110,227
  • Apr 13, 2012 7:39am Apr 13, 2012 7:39am
hey guys,
sorry if i'm cutting into the flow of the current topic.

I realized I never really learned how to trade until I came across this thread. I had been spending time on learning about the what/who/where Forex is. PA gives the specifics and is the "How" in how to trade.

I know it's a bit soon for me to be saying this! But I caught some profits and I want to say that as wary as I am about a lot of things, PA is good stuff.

I am only trading live (small amounts) because I have spent quite some time learning about forex workings in general.

so.. a look at the USDSGD chart shows a TBHLC. I cut my profits early but it was good.

My trade in EURUSD wasn't based on PA indicators although I was really hoping for something IB/BEOB/PB. It was however, based on PPZs and trendlines. I took this trade only because of confluence (BRN, 50 Fib, major TL resistance). I had been waiting for it and it worked, and is still good as I am typing this. I took some profits and set the rest to BE.

Thanks everyone!
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  • #110,228
  • Apr 13, 2012 7:48am Apr 13, 2012 7:48am
Quoting 4tiger
hey guys,
sorry if i'm cutting into the flow of the current topic.

I realized I never really learned how to trade until I came across this thread. I had been spending time on learning about the what/who/where Forex is. PA gives the specifics and is the "How" in how to trade.

I know it's a bit soon for me to be saying this! But I caught some profits and I want to say that as wary as I am about a lot of things, PA is good stuff.

I am only trading live (small amounts) because I have spent quite some time learning about forex workings...
good stuff! Keep it up tiger
  • #110,229
  • Apr 13, 2012 8:00am Apr 13, 2012 8:00am
One hour pinbar on silver at strong level to go long...what do people think?
  • #110,230
  • Apr 13, 2012 8:05am Apr 13, 2012 8:05am
Quoting bfd
One hour pinbar on silver at strong level to go long...what do people think?
not good. read ghous' post about confluence (and add "sideways market, no swing"). hth
meine augen sind die sterne
  • #110,231
  • Apr 13, 2012 8:09am Apr 13, 2012 8:09am
Im in a AUD trade which is driffting around 150 pips plus today after just missing my TP some 12 hours ago.

Now I dont know if I should close it at days end, because of weekend, or let it open.
Im inclined to the 1st option...
Thoughts are things
  • #110,232
  • Apr 13, 2012 8:31am Apr 13, 2012 8:31am
Sometimes you just gotta go with your gut feeling!

When in doubt, pull out. Is there such a saying? lol.

I just closed my trades so I can rest easy over the weekend.

If you close it now, come Monday you'll be glad that you took in some profits knowing that the market could have gone either way over the weekend!

Why take a chance unless there's more indication that price will keep on going your way (such as FTA not reached).

Btw, 150 pips? niice.

Quoting Quezoy
Im in a AUD trade which is driffting around 150 pips plus today after just missing my TP some 12 hours ago.

Now I dont know if I should close it at days end, because of weekend, or let it open.
Im inclined to the 1st option...
  • #110,233
  • Apr 13, 2012 8:35am Apr 13, 2012 8:35am
Quoting bullzeye
hey guys,

i took this one AUD/CAD, nice pin on daily, but not a bullish one, i like it anyway

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Credit where it's due

I got this wrong. It played some games with you but it worked. I hope my words didn't put you off too much.
  • #110,234
  • Apr 13, 2012 8:39am Apr 13, 2012 8:39am
Quite a week what with one thing and another.... may you all have great weekends... i'm done for the week.
  • #110,235
  • Apr 13, 2012 8:42am Apr 13, 2012 8:42am
Quoting ghous
Hey C,

In my opinion your best bet in playing these breakout trades is to trade into empty spaces. In fact breakouts trades best realize their potentials when there is ample to space for momentum to propel price into with little trouble.

Now while your trend line does seem to appear as broken, notice that you're still not out of the larger consolidation wedge and that price at the moment is holding right at this more longer term support trend line.

Because price is consolidating we know that all these areas are very important because price...
Thak you Ghous. The trade did not trigger in the next bar hence I cancelled the trade. Now the trade is trying to get out out of the larger consildation zone.
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  • #110,236
  • Apr 13, 2012 8:46am Apr 13, 2012 8:46am
Quoting diogo
The files are being uploaded..
Give it some hours for completion.
UPDATE: Files finished uploading

122M 2012-04-11 17:21 James16-Concated-0001-0300.pdf
146M 2012-04-11 17:23 James16-Concated-0301-0600.pdf
136M 2012-04-11 17:24 James16-Concated-0601-0900.pdf
150M 2012-04-11 17:28 James16-Concated-0901-1200.pdf
155M...
The files are there, but received the following from DropBox.
Quote
Hi Diogo,

This email is an automated notification from Dropbox that your Public links have been temporarily suspended for generating excessive traffic. Your Dropbox will continue to function normally with the exception of Public links.

This suspension is temporary (3 days for the first time).

Please visit Dropbox support if you have any questions.

- The Dropbox Team


So i re-uploaded to a service that shouldn't have problems (lets hope)
and where files don't get expired (has Dropbox do, on inactivity of account)

http://minus.com/m1rshFeUm
  • #110,237
  • Apr 13, 2012 10:35am Apr 13, 2012 10:35am
Diogo,

thanks, appreciate your efforts in compiling the files and sharing the same.
  • #110,238
  • Apr 13, 2012 11:14am Apr 13, 2012 11:14am
Quoting at145
Diogo,

thanks, appreciate your efforts in compiling the files and sharing the same.
No problem at145. Let's just hope it helps who needs/prefers it.
  • #110,239
  • Apr 13, 2012 11:43am Apr 13, 2012 11:43am
The plan for next week.
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  • #110,240
  • Apr 13, 2012 11:53am Apr 13, 2012 11:53am
Quoting ghous
Hey Aslam,

Mike's done a wonderful video which is up in the guest section of the PF.

here's the link (look in mbqb11's section for "traffic vs space the basics")

He covers the basics of it pretty well. If anything is still unclear I'll be more than willing to take it up with you. Just let me know

Regarding my current strategies I don't think going into the depth here is a good idea since it differs from the conventional stuff to some extent at least. This thread has always...
u deserve more than that hope to see soon .

but i have to look at it in Pakistani currency which is just round about 10,000.. lol
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