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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

  • #112,341
  • May 28, 2012 5:25am May 28, 2012 5:25am
Hello i would like to ask Jarroo about LCS,HCR and PBT. I really love your charts but i think i have got a problem about useing too much lines on my chart. My question is when to deleate HCR or LCS, couse sometimes you deleate it and sometime u use it for PBR&CB(A), so are there any rusel how to do it or its just skill.? For example your chart with my 1,2,3 lines, i really love 2 and 3 lines, but 1 is LCS one day and then going crazy... thank you
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  • #112,342
  • May 28, 2012 6:00am May 28, 2012 6:00am
Quoting tinkerbelle
Hello i would like to ask Jarroo about LCS,HCR and PBT. I really love your charts but i think i have got a problem about useing too much lines on my chart. My question is when to deleate HCR or LCS, couse sometimes you deleate it and sometime u use it for PBR&CB(A), so are there any rusel how to do it or its just skill.? For example your chart with my 1,2,3 lines, i really love 2 and 3 lines, but 1 is LCS one day and then going crazy... thank you

I know what you mean.

Recently, I am only really focusing on the immediate area where price is and in the direction it is moving.
Nice when we get a weekly and daily LCS acting as confluence.

By the way, weird daily gap you have on that feed.
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  • #112,343
  • May 28, 2012 6:53am May 28, 2012 6:53am
short
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,344
  • Edited 7:31am May 28, 2012 7:04am | Edited 7:31am
Quoting millions
Anyone having trouble viewing attachments on the thread? I can see the posts but all I can see in the attachments box is "Attached thumbnails".

Thanks
M
yes on both ff and ie and google chrome
  • #112,345
  • May 28, 2012 8:02am May 28, 2012 8:02am
I am also having the problem with the attachments, and people's avatars as well. Figured it was just my antiquated computer, somewhat relieved it is not.
  • #112,346
  • May 28, 2012 8:26am May 28, 2012 8:26am
also I done a bit of work on so


Quoting Bones
No it wont hold
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,347
  • May 28, 2012 8:31am May 28, 2012 8:31am
gold


Quoting Bones
ok only clean ,charts ,my apology to anyone I have offended ,its not my purpose ,
I have had long stressfull week thats all

My gold strat has not changed
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,348
  • May 28, 2012 9:07am May 28, 2012 9:07am
seen this happen so many times on breakouts over the years.

doji formed on other side of trendline, SELL!!!!!

I think this is one of those "money in the bag", "see it from 1,000 miles away" type of trades.
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Many choose unhappiness over uncertainty.
  • #112,349
  • May 28, 2012 9:08am May 28, 2012 9:08am
Quoting mbarker22
Hi robben, as far as exiting a trade the only part I feel comfortable advising you right now is to get your stoploss to breakeven as quickly as possible, that way you cannot lose any money on the trade. Beyond that, since I am still new myself I would say that you should wait for mbqb11 or another senior member for the best advice.
Thanks for your share,man. Have a good day!
  • #112,350
  • May 28, 2012 9:13am May 28, 2012 9:13am
1hr intraday trade. there is a lot going on here, the 9700 is a very valid weekly level, we had an I4B form on daily, with resistance @ 9800. Price broke the 9800 level, then formed a nice BUOB on 1hr. I got in, S/L @ b/e, probably should have taken full profit at the shown FTA. hindsight is 20/20.
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Many choose unhappiness over uncertainty.
  • #112,351
  • May 28, 2012 9:20am May 28, 2012 9:20am
Quoting millions
Anyone having trouble viewing attachments on the thread? I can see the posts but all I can see in the attachments box is "Attached thumbnails".

Thanks
M
Happy I am not alone ...

http://www.forexfactory.com/showthre...30#post5704830
  • #112,352
  • May 28, 2012 9:23am May 28, 2012 9:23am
Quoting Donkey
http://www.forexfactory.com/showthre...44#post2365944

Hi robben. Here is a pretty famous "This is Critical" post from James16. I think this is a good place to start looking at exits. It's important to recognize the first trouble area of a trade and plan to take some sort of action there. You can generally take full profit at FTA, reduce risk (go to break-even), take partial profits, etc. One key thing to remember is that exit strategies are just as numerous, if not moreso, than entries...and deciding how to exit often depends...
Hi Donkey, this post is really useful to me ! I will print it down. I was being told that veterans trader focus on how to exit, in their view, exit is more important than entry, better entry just give a good price but how to take profit make the priority of the whole strategy.So I took the advice and try to look out how to exit , it is definitely right as you said there are numerous ways to get out, just want to find one suit myself,so far for the exit I still prefer to quote 2. take a small partial profit and move the remainder to BE. unquote Just don't want the account draw down too much.

Thank you ,this is a good place.
  • #112,353
  • May 28, 2012 9:41am May 28, 2012 9:41am
Quoting Dan Gilbert
seen this happen so many times on breakouts over the years.

doji formed on other side of trendline, SELL!!!!!

I think this is one of those "money in the bag", "see it from 1,000 miles away" type of trades.
Yeah, I saw this, and being a new trader, didn't get in. Think it's going all the way down to the 1.26 level? Or even further?
  • #112,354
  • May 28, 2012 10:40am May 28, 2012 10:40am
Hi.
What do you think about this trade.
The price rejected the resistence zone.
The last 4h candle break's the lows off last 2 doji's candles.
There is also a nice down trend momentum
http://img821.imageshack.us/img821/5785/26245324.jpg
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  • #112,355
  • May 28, 2012 11:40am May 28, 2012 11:40am
Quoting nc_trader
Hi.
What do you think about this trade.
The price rejected the resistence zone.
The last 4h candle break's the lows off last 2 doji's candles.
There is also a nice down trend momentum

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This one could break down for sure, however, I would be watching it really closely. I see this one trading into a significant weekly level that could act as support and give a bounce resuming the up trend. A few thoughts on my charts (as I type price testing the top of the wkly level). Will be a good one to watch.
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  • #112,356
  • May 28, 2012 11:53am May 28, 2012 11:53am
I can zoom out for you ,like this


no clutter hope you likeee




Quoting Bones
short
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,357
  • May 28, 2012 11:57am May 28, 2012 11:57am
I can show you real



Quoting Bones
also I done a bit of work on so
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,358
  • May 28, 2012 11:58am May 28, 2012 11:58am
I can show you not real

no clutter
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #112,359
  • May 28, 2012 12:49pm May 28, 2012 12:49pm
Quoting mbqb11
Yes guys, let's not turn this thread into a post whatever is on my mind thread liek the Eur/usd thread or Gbp/Usd thread.

I would rather not having to start cleaning up this thread. This thread is meant for NEW traders. So what are we here to do but help new traders. If you have a chart, post your explanation with it. Not just a buy or sell order that doesn't help people UNDERSTAND.

Please let's not have me have to clean up posts.

For example here is a trade I am in, with a full explanation. This is a touch trade using the concepts...
updated chart.

BUOB was our Preemptive breakout bar, and now price has started to make it's way higher. Was just a nice story on this one, that's all we want
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  • #112,360
  • May 28, 2012 12:54pm May 28, 2012 12:54pm
This is my favourite setup.
Nice Down trend like we can see on Weeakly tf.
And on 4h chart we can see a nice spin candle in a important resistence zone(old suport)
I'm short!
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