james16 Chart Thread | Page 5542 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #110,821
  • Apr 26, 2012 9:53pm Apr 26, 2012 9:53pm
One thing that urks me is when I place a trade and have to walk away from computer only to find that PT was almost reached ( -2 pips) but I Was not there to close the trade!!

Put on USD/JPY long and then had to go do some stuff in the house for little while then I came back to check on things and saw that my PT was -2 pips away ,at one time , from being hit but now -20 !!! UGH ....had I been there I Would have closed out trade......
"Greed is good,greed is right,greed works"
  • #110,822
  • Apr 26, 2012 10:07pm Apr 26, 2012 10:07pm
Quoting haircut
Cheers Jim

I am loving picking these levels and am now trying to put together 3 pieces of confluence to go with them.
It makes sense now to take full profit at these FTA levels now that you mention about re-entering on the PBTCA as I gave back 50 pips when it came back to break even which is silly.
I am learning slowly but thanks for your clear explainations
Hair
Hey HC . .this post was meant for you too, on the UsdJpy . .I'm sure gado didn't mind . .

Quoting jarroo
Keep at it, brother . .


We may get another Daily Close Confirmation Above the HCR level on the UsdJpy . .we'll have to see where the Daily closes today.

Interesting where Price Bammed!! . .to the pip!! . today . . .right at a LCS level . .what a shocker . .lol
You would be surprised at how many traders would have taken zero profit and even had a loss . .if you can believe it. So you did fantastic.


So we had another Daily Close Confirmation . .cool. Where's are target? LCS level. . .wait a minute . .that a setup to so short at that level. . so I could long at the HCR and then short at the LCS. . .Interesting . .

Let's not get ahead of ourselves . .one step at a time . .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jpy28.gif Size: 29 KB
Click to Enlarge Name: jpy28a.gif Size: 25 KB
Indicators show the past. Price Action "Indicates" the future.
  • #110,823
  • Apr 26, 2012 11:06pm Apr 26, 2012 11:06pm
Damn joelcf . . what did you do . .lol . .
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 0.gif Size: 26 KB
Click to Enlarge Name: 0a.gif Size: 31 KB
Indicators show the past. Price Action "Indicates" the future.
  • #110,824
  • Apr 26, 2012 11:20pm Apr 26, 2012 11:20pm
Quoting Donkey
AUDNZD approaching potential strong resistance:

  1. Proven PPZ
  2. Daily, weekly LCS
  3. Daily HCR
  4. RN 1.2800
  5. 50% ret level

you can add the 38,2% fib level from the downtrend starting in dec 2011.
nice level
meine augen sind die sterne
  • #110,825
  • Apr 26, 2012 11:29pm Apr 26, 2012 11:29pm
Quoting jarroo
Damn joelcf . . what did you do . .lol . .
was it joelcf who caused this spike?
well, then ... thanks mate!
managed to hit the low due to simple s/r-stuff.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gb.JPG Size: 54 KB
Click to Enlarge Name: gj45.gif Size: 31 KB
meine augen sind die sterne
  • #110,826
  • Apr 26, 2012 11:46pm Apr 26, 2012 11:46pm
Quoting aserbfx
was it joelcf who caused this spike?
well, then ... thanks mate!
managed to hit the low due to simple s/r-stuff.
I not 100% sure if it was Joel . .All I know is . . when Joel speaks . .people listen . .
Indicators show the past. Price Action "Indicates" the future.
  • #110,827
  • Apr 27, 2012 12:18am Apr 27, 2012 12:18am
Quoting aserbfx
was it joelcf who caused this spike?
well, then ... thanks mate!
managed to hit the low due to simple s/r-stuff.
yes it was.

He threw in his 200 STDs.

g.
I believe . . .
  • #110,828
  • Apr 27, 2012 12:20am Apr 27, 2012 12:20am
Quoting jarroo
I not 100% sure if it was Joel . .All I know is . . when Joel speaks . .people listen . .
Too bad we don't have a bunch of guys like Joelcf around this place anymore.

g.
I believe . . .
  • #110,829
  • Apr 27, 2012 12:26am Apr 27, 2012 12:26am
Quoting fxterrapin
E/A - entered short at 1.3736, target around 1.2600. Anybody else in? Not an a+ setup but any means, but still...
Hey fxterrapin,

could you please elaborate on why you took that trade?

g.
I believe . . .
  • #110,830
  • Apr 27, 2012 12:49am Apr 27, 2012 12:49am
Quoting bullzeye
well i am here to learn, and the best and quickest way is to learn from my mistakes :

took this one because i was playing the outbreak and the beautiful "cup and handle" pattern, but without confirmation ...after my entry the pair formed something like a pinbar and reversed . Will i get punished for being inpatient? (mhhh, of course i will, but how would you handle that from now?)

Attachment
Hey Bullzeye,

You'll keep getting burned if you don't refrain yourself from buying resistance and selling support blind.

Remember this?

http://i81.photobucket.com/albums/j2...s/bullzeye.png

and this?

http://i81.photobucket.com/albums/j209/ghous/reply.png

You took on a trade that is a great "practical" of the problem I told you about earlier.

You see in taking a long blindly at resistance, you're basically banking on very little information. Trust me if you will, that's exactly what the pros want you to be doing so they can execute their huge trade positions against a herd of poorly informed traders. That's what created the pin bar here...and that's precisely why the "james16 pin bar" and other PA setups work so well. They provide you with the opportunity to take the side of the bigger players without a lot of guesswork involved.

hope this helps.

g.
Attached Image (click to enlarge)
Click to Enlarge Name: ga.gif Size: 40 KB
I believe . . .
  • #110,831
  • Apr 27, 2012 1:04am Apr 27, 2012 1:04am
Quoting jarroo
Hey HC . .this post was meant for you too, on the UsdJpy . .I'm sure gado didn't mind . .

You would be surprised at how many traders would have taken zero profit and even had a loss . .if you can believe it. So you did fantastic.
Of course not sir.

This my guest, it because of this LCS, trader who took BUY because of the daily confirmation as support, got the zero profit because they move their SL to BE when price arrive at LCS and for those who loss because they don't realize that there is LCS level and price came back.

Quote
So we had another Daily Close Confirmation . .cool. Where's are target? LCS level. . .wait a minute . .that a setup to so short at that level. . so I could long at the HCR and then short at the LCS. . .Interesting . .

Let's not get ahead of ourselves . .one step at a time . .

It's look like the previous example USD/NOK... It's Price moving up and down between HCR and LCS....

No offence sir, but when I see much line near each other I will got confuse. I still learning to trade at the deppest swing and take this one as my learning only...

Quoting jarroo
Damn joelcf . . what did you do . .lol . .
Quoting ghous
yes it was.

He threw in his 200 STDs.

g.
Did you both sir means joelcf sir a member in this forum?... WOW...
  • #110,832
  • Apr 27, 2012 1:12am Apr 27, 2012 1:12am
Quoting gadogado
Of course not sir.

This my guest, it because of this LCS, trader who took BUY because of the daily confirmation as support, got the zero profit because they move their SL to BE when price arrive at LCS and for those who loss because they don't realize that there is LCS level and price came back.



It's look like the previous example USD/NOK... It's Price moving up and down between HCR and LCS....

No offence sir, but when I see much line near each other I will got confuse. I still learning to trade at the deppest swing and take this one as my...
Hes is a legendary member Gado, one you don't want to miss the posts of.

g.
I believe . . .
  • #110,833
  • Apr 27, 2012 1:13am Apr 27, 2012 1:13am
Quoting gadogado
Did you both sir means joelcf sir a member in this forum?... WOW...
Sadly, I feel my powers have been greatly overestimated. The most serious liquidity-based crash I have ever precipitated was the time I dropped an entire tray of drinks

Quoting ghous
Too bad we don't have a bunch of guys like Joelcf around this place anymore.
Still here, just much more reserved.
When you have to shoot, shoot. Dont talk.
  • #110,834
  • Apr 27, 2012 1:23am Apr 27, 2012 1:23am
Quoting ghous
Hes is a legendary member Gado, one you don't want to miss the posts of.

g.
Quoting joelcf
Sadly, I feel my powers have been greatly overestimated

Still here, just much more reserved.
It's my honor can found this thread and be here for learning...
  • #110,835
  • Edited 2:41am Apr 27, 2012 2:29am | Edited 2:41am
Jarroo,

Can up-bars (closed higher) at swing lows be considered as LCS instead of down-bars?

Caesar
"Nature's law" is called "Reason". When perfectly understood by human it is
  • #110,836
  • Apr 27, 2012 2:30am Apr 27, 2012 2:30am
Quoting Donkey
AUDNZD approaching potential strong resistance:

  1. Proven PPZ
  2. Daily, weekly LCS
  3. Daily HCR
  4. RN 1.2800
  5. 50% ret level

Posted these back in March - there was money to be made there . Hope someone took it. Well spotted.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd d 26032012.gif Size: 31 KB


Attached Image (click to enlarge)
Click to Enlarge Name: audnzd d1 30032012.gif Size: 30 KB


Now we're back, is it short again?
  • #110,837
  • Apr 27, 2012 2:40am Apr 27, 2012 2:40am
This AUD/NZD setup is good yes.
But if we're waiting for PA, dont we run into the risk, that there will be a huge BEOB down from the 1.28 area.
So we lose those 150 pips (for example)?.

How to manage this?
Thoughts are things
  • #110,838
  • Apr 27, 2012 3:15am Apr 27, 2012 3:15am
Quoting jarroo
I not 100% sure if it was Joel . .All I know is . . when Joel speaks . .people listen . .
he farted @ the BOJ mtg Jim? LOL

sup Joel, G, Mike. =)
One Mind, Any Market
  • #110,839
  • Apr 27, 2012 3:53am Apr 27, 2012 3:53am
Quoting Quezoy
This AUD/NZD setup is good yes.
But if we're waiting for PA, dont we run into the risk, that there will be a huge BEOB down from the 1.28 area.
So we lose those 150 pips (for example)?.

How to manage this?
I will be monitoring PA at all TF around 1.28. Same way i got in first time round. This is where practice and observation are of paramount importance. We look for PA but like you say if we look for D1 PA we may miss some of the move. It all depends on your level of understanding. If in doubt, stay out as they say.

i've attached a chart or two which shows how the break unfolded.... look for similar clues in the zone now. Even touch trades form PA of some sort, maybe just at lower TF.
Attached Image (click to enlarge)
Click to Enlarge Name: an h4 27042012.gif Size: 42 KB


Attached Image (click to enlarge)
Click to Enlarge Name: an h1 27042012.gif Size: 21 KB


Ignore the limit order.... i added that as a reminder yesterday.
  • #110,840
  • Apr 27, 2012 4:34am Apr 27, 2012 4:34am
Quoting Quezoy
This AUD/NZD setup is good yes.
But if we're waiting for PA, dont we run into the risk, that there will be a huge BEOB down from the 1.28 area.
So we lose those 150 pips (for example)?.

How to manage this?
PA is the confirmation that the level is acting as we expect it to. I don't consider it "losing" pips, but more preserving my capital. Sure we can Touch trade the level with a smaller stop....basically trying to pick a top or bottom.

Actually these zones are high probability areas to watch, and the currency markets are so volatile having PA as confirmation is definitely preferable - especially starting out.

What if the PA that forms at the level is bullish rather than bearish?
170 traders viewing now