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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

  • #110,901
  • Apr 27, 2012 7:14pm Apr 27, 2012 7:14pm
Quoting Gekko78
A trailing stop would only activate after target is hit first though yes?
some trading software has automated if target X is hit then activate trailing stop at whatever pips below target, which is what u maybe looking for .but Note Entering automated trailing stops at wrong time can result in a profit or a loss. What I prefer to do is manually set trailing stops just above or below your entry point ONLY AFTER the trade is definitely going my way that way my trade will either
1. break even with a marginally low or 0 profit
2. lock in high profits if it turn against me.
it takes time to get used to trailing stops because just like stop losses they can get hit too soon before the prices runs, either way u will have a be up and looking for a confortable time to enter the trailing stop.
Stop thinking like a retail trader
Forextrinitrader3.0 Profit This Month: na
  • #110,902
  • Apr 27, 2012 10:59pm Apr 27, 2012 10:59pm
Quoting ghous
Too bad we don't have a bunch of guys like Joelcf around this place anymore.

g.
I hear ya, g . .a merlin post on Oil would be awesome . .
Indicators show the past. Price Action "Indicates" the future.
  • #110,903
  • Apr 27, 2012 11:00pm Apr 27, 2012 11:00pm
Quoting 4tiger
Just wanted to say something...

Reading too many threads really messes with my analysis, people can be bullish or bearish and be right but even two people trading in the exact same direction can have different outcomes.

I just realized that I was so set on going short on EURUSD for the past week that I almost missed the daily BUOB showing up now (off of a FTA zone drawn beforehand on H4). I must follow the charts, the charts don't follow me... intermediate up trend show in blue lines (added after the fact).

One more thing I noticed......
I'm not really sure why you are going short...? We have a clear BEOB showing price has broken through trendline and possibly heading up to the 1.328 resistance area.
  • #110,904
  • Apr 27, 2012 11:09pm Apr 27, 2012 11:09pm
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....
Yes that's exactly, gado. Price tend to bounce off strong levels of Support and Resistance. What better levels to find these bounces than from the HCR/Lcs level .. . .UsdNok is a great example. .
Indicators show the past. Price Action "Indicates" the future.
  • #110,905
  • Apr 27, 2012 11:33pm Apr 27, 2012 11:33pm
Quoting gadogado


Did you both sir means joelcf sir a member in this forum?... WOW...
Joelcf is a great guy and very smart . he as a way making complex issues, understandable to you and I . . . from indicators to the fundamentals of markets and governements, interest rate cuts, quantitative easing, increased potential of credit rerating, and other stuff that I've copied and pasted from his posts.

As it has been said before . . .Joel doesn't need fundamental and technical analysis books . . fundamental and technical analysis books need him.

Search out his previous posts . . you'll be glad you did . .

http://www.forexfactory.com/joelcf


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #110,906
  • Apr 27, 2012 11:34pm Apr 27, 2012 11:34pm
Quoting joelcf
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



Still here, just much more reserved.
lol . .


And he's very modest . . .
Indicators show the past. Price Action "Indicates" the future.
  • #110,907
  • Apr 27, 2012 11:39pm Apr 27, 2012 11:39pm
Quoting DBallerz
I'm not really sure why you are going short...? We have a clear BEOB showing price has broken through trendline and possibly heading up to the 1.328 resistance area.
I was going short because I really wanted the daily bearish H&S pattern to complete with a price break through the neckline, I personally never had an opportunity to trade a H&S pattern before so I was waiting for it. With that said, I should have waited for confirmation.

Clear BUOB indeed, but I was focused on shorting so I didn't see the indications of the trade going the other way! tunnel vision...
  • #110,908
  • Apr 27, 2012 11:46pm Apr 27, 2012 11:46pm
Quoting Caesar95
Jarroo,

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

Caesar
I may need a chart from you to better understand your question . .but as long as there is a swing point . . the deeper the swing the better (stronger) . . . there will be a HCR/LCS level by definition.
Indicators show the past. Price Action "Indicates" the future.
  • #110,909
  • Apr 28, 2012 12:02am Apr 28, 2012 12:02am
Quoting jarroo
Joelcf is a great guy and very smart . he as a way making complex issues, understandable to you and I . . . from indicators to the fundamentals of markets and governements, interest rate cuts, quantitative easing, increased potential of credit rerating, and other stuff that I've copied and pasted from his posts.

Jim
Will do it sir... thanks

Here is my trade on EUR/AUD
Entry on pullback to HCR, price bounce in H1, reduce risk when reach first green line 15pips below HCR, take partial profit on second green line and move stop to BE... finally price moveback take my stop. Is my TP place already correct?
Attached Image (click to enlarge)
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  • #110,910
  • Apr 28, 2012 12:09am Apr 28, 2012 12:09am
A couple chart for waiting a setup. Is there something not right, sir jaroo?
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  • #110,911
  • Apr 28, 2012 12:17am Apr 28, 2012 12:17am
Quoting gadogado
Will do it sir... thanks

Here is my trade on EUR/AUD
Entry on pullback to HCR, price bounce in H1, reduce risk when reach first green line 15pips below HCR, take partial profit on second green line and move stop to BE... finally price moveback take my stop. Is my TP place already correct?
Absolutely perfect gado . . . .Daily level, Daily targets (previous bar Highs and Lows). . .just like an old pro . . . .my feed shows the same targets being hit.


Quoting gadogado
and for those who loss because they don't realize that there is LCS level and price came back.
Let me talk more about this part of your previous post too . .

Its not that they don't realize that there is a target there at the LCS or it could be a previous bar Low. . . many times they do know its there. .but they don't do anything about it . .meaning they don't take profits . .they don't reduce their risk. They look at the pip amount and want more or they think that it will go higher.

James16 will tell you it has to do with account size and I agree with him . .meaning if that 15 pips on the EurAud was worth $15 or $1500 or $15,000 it changes a traders perspective.

The point is . . let's forget about "pip amounts" . .forget about them. Let's just concentrate on the targets and react . .


Jim
Indicators show the past. Price Action "Indicates" the future.
  • #110,912
  • Apr 28, 2012 12:29am Apr 28, 2012 12:29am
Quoting gadogado
A couple chart for waiting a setup. Is there something not right, sir jaroo?

They look great gado . .

Don't forget your EurAud chart too . . Since that HCR could not hold as Support and PBT&CB . .good chance its going to turn into Resistance.


Jim
Attached Image (click to enlarge)
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Indicators show the past. Price Action "Indicates" the future.
  • #110,913
  • Apr 28, 2012 12:35am Apr 28, 2012 12:35am
Quoting jarroo
Let me talk more about this part of your previous post too . .

Its not that they don't realize that there is a target there at the LCS or it could be a previous bar Low. . . many times they do know its there. .but they don't do anything about it . .meaning they don't take profits . .they don't reduce their risk. They look at the pip amount and want more or they think that it will go higher.

James16 will tell you it has to do with account size and I agree with him . .meaning if that 15 pips on the EurAud was worth $15 or $1500...
I got it sir...

My shallow thoughts just thinking two side, knowing or not knowing. Great explanation sir.

Yeah, I do agree with sir james16. It's very logically about the size of account that he said. 15pips worth $1,5 or $15 then will want more, but if 15pips worth $1500 or more then it will enough.

A wise word "Let's just concentrate on the targets and react" will keep in my mind...
  • #110,914
  • Apr 28, 2012 12:40am Apr 28, 2012 12:40am
Quoting jarroo
As it has been said before . . .Joel doesn't need fundamental and technical analysis books . . fundamental and technical analysis books need him.

Search out his previous posts . . you'll be glad you did . .
Quoting gadogado
Will do it sir... thanks
I'm not sure who compiled these... I can't find the post. But if it helps, joelcf posts can be located in the first 2 zip files. Enjoy!
Attached File(s)
File Type: zip J16 Thread Summaries, Posts 2500 to 3000.zip   1.5 MB | 665 downloads
File Type: zip 3000 to 3500.zip   926 KB | 495 downloads
File Type: zip J16; p 1 to 2500; james16, mbqb11, raczekfx.zip   1.6 MB | 531 downloads
File Type: zip J16; Jarroo; Tiaforex; StoragePro; Ryanmcd; SeekingLight; gjhookyah; Matiasfx.zip   2.0 MB | 595 downloads
  • #110,915
  • Apr 28, 2012 12:42am Apr 28, 2012 12:42am
Quoting gadogado
I got it sir...

My shallow thoughts just thinking two side, knowing or not knowing. Great explanation sir.

Yeah, I do agree with sir james16. It's very logically about the size of account that he said. 15pips worth $1,5 or $15 then will want more, but if 15pips worth $1500 or more then it will enough.

A wise word "Let's just concentrate on the targets and react" will keep in my mind...
Yes sir . . . . .taking profits at targets . .no matter how much or how little a trader thinks they should be . .can make be the difference between a "profitable trader" and a "break even trader" . .and yes, even one that losses consistently.
Indicators show the past. Price Action "Indicates" the future.
  • #110,916
  • Apr 28, 2012 12:44am Apr 28, 2012 12:44am
Quoting 4tiger
I'm not sure who compiled these... I can't find the post. But if it helps, joelcf posts can be located in the first 2 zip files. Enjoy!

That's got to be from our friend . .Cyrus . .

Thanks for the repost 4tiger . .
Indicators show the past. Price Action "Indicates" the future.
  • #110,917
  • Apr 28, 2012 1:13am Apr 28, 2012 1:13am
Quoting Osman
Nice PA with a nice story..the only problem i see was the space.


Would love to hear your comments.

Thx.
Looks good Osman . .What I like to do is if I go down to the 4 Hour or Hourly TF, I bring the Daily levels with me.



Quoting Donkey
What do you bet jarroo is in that one - at the top of the BEOB

You know me too well, D . . The Hourly BEOB off the Daily LCS level (.9850) was picture perfect . .
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Indicators show the past. Price Action "Indicates" the future.
  • #110,918
  • Apr 28, 2012 1:16am Apr 28, 2012 1:16am
Quoting jarroo
They look great gado . .

Don't forget your EurAud chart too . . Since that HCR could not hold as Support and PBT&CB . .good chance its going to turn into Resistance.


Jim
Won't forget it, sir. Fail to act as Support then has a chance to return to act as Resistance.

Here is my target level.
Attached Image (click to enlarge)
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  • #110,919
  • Apr 28, 2012 1:19am Apr 28, 2012 1:19am
Quoting gadogado
Won't forget it, sir. Fail to act as Support then has a chance to return to act as Resistance.

Here is my target level.

What can I say gado, . . .the targets look great.

Are you sure you are new to this? . . . .it doesn't look like it . .
Indicators show the past. Price Action "Indicates" the future.
  • #110,920
  • Edited 1:36am Apr 28, 2012 1:32am | Edited 1:36am
Quoting jarroo
What can I say gado, . . .the targets look great.

Are you sure you are new to this? . . . .it doesn't look like it . .
Not so new, but still very amateur, sir. Lack of confident to entry and still have many thing I don't know...

Your method make me clear and easy to understand the sir james16 material and starting to follow your chart. Have saved much of your chart...
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