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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

  • #113,301
  • Jun 17, 2012 3:53pm Jun 17, 2012 3:53pm
Quoting Chanya
I was expecting something , GAPS , like I had never seen before but nothing special .......... Same ol minor gaps ... Elections did not have much spontaneous effects I see !!! Last weeks gaps were bigger ...
forget gaps... have a look at e/j
  • #113,302
  • Jun 17, 2012 4:14pm Jun 17, 2012 4:14pm
Quoting Variance
forget gaps... have a look at e/j
What about it ?? Whats special ???
Human
  • #113,303
  • Jun 17, 2012 4:18pm Jun 17, 2012 4:18pm
Quoting Chanya
What about it ?? Whats special ???
ssshhhh.... just watch
  • #113,304
  • Jun 17, 2012 5:27pm Jun 17, 2012 5:27pm
Quoting C-12
A pin formed on that trend line and right on the 50% fib so took a cheeky H1 long.
Well this pin came good in the end but I think I'll avoid making Friday trades. If I had real money on this it would have been a long weekend!
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  • #113,305
  • Jun 17, 2012 10:22pm Jun 17, 2012 10:22pm
Quoting Variance
have a look at e/j
as well as at EurCad. It seems it's finally trying to reach 1.30...
Some W & M HCR/LCS by 1.304 - 1.31, but I guess Mike would say to keep an eye on it...

Edit: don't know why my charts appear so blue while they are black on my MT4. It ain't very comfortable to look at...
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Slow & steady
  • #113,306
  • Jun 17, 2012 10:25pm Jun 17, 2012 10:25pm
Quoting Chanya
What about it ?? Whats special ???
trying to fly off 100?
Still, I agree with you, Chanya, I was expecting much more turbulence...

have a nice day
Slow & steady
  • #113,307
  • Jun 17, 2012 11:46pm Jun 17, 2012 11:46pm
Quoting LevSer
I think the timing of entry/exit can be as hard as finding the setups so definitely something I'll have in mind. Thanks!
One big eye opener for me was when I learned to better manage my trades. This is easier on the larger time frames as well.

Now I always look for an opportunity to minimize my risk as soon as the trade is a few pips in profit (close half position, move s/l). My main focus during any trade is to NOT let it become a loosing trade. I do let it run and trail when its a "free" trade though.

When I find myself in a negative trade, price often retraces to near entry or even a couple of pips in black. This is when I pull the trigger and close it (often happen when price ranges). The trade setup is not valid anymore so I close it with little loss. Of course there are thoughts like "it could have turned right now" or "it could become profitable" or "10 more pips". Don't listen, these thoughts make it a larger loss. Do I always get the best possible exit? of course not but my rule #1 is to protect what I have.

HTH, Rico
  • #113,308
  • Jun 18, 2012 12:11am Jun 18, 2012 12:11am
Bet Jarroo is keeping his eye on this area.
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  • #113,309
  • Jun 18, 2012 12:12am Jun 18, 2012 12:12am
chance to go short on USD/CAD , nice H&S pattern on 4H. although bullish divergence can also be spotted on 4H, the D1 and W1 charts indicate bearish sentiment. Waiting for PA.
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Every bar tells a tale
  • #113,310
  • Edited 1:29am Jun 18, 2012 1:08am | Edited 1:29am
Quoting Chanya
Time to fly away on EUR/JPY ... Break of the wedge , and now , wedge , BRN and 150 Ema as a support below ...
from 100.20-100.12?

blind leading the blind... LOL
  • #113,311
  • Edited 5:35am Jun 18, 2012 2:16am | Edited 5:35am
One of Mike's fade of momentum setup with beautiful rejection off the BRN 1.6000, I think. Not in this one coz I'm in AUD/USD trade. Think it has potential to go higher. Did you watch that one, Mike? 1.6074 is LCS of previous suport level. And also it is almost to a pip the top of the dayly BUOB. It going to be broken, I feel it
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If not up, then down, otherwise sideways :-)
  • #113,312
  • Edited 2:49am Jun 18, 2012 2:38am | Edited 2:49am
Quoting Variance
from 100.20-100.12?

blind leading the blind... LOL
Hey , it was you who said to me last night to watch this cross remember ??? I was seeing nothing specific or eye catching on it , neither am I now ... I am just making assumptions what you meant when you said this to me

Quoting Variance
ssshhhh.... just watch
NOT COOL
Human
  • #113,313
  • Jun 18, 2012 2:45am Jun 18, 2012 2:45am
worth to try?
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all is eternal - this is good news for people who loves bad news
  • #113,314
  • Jun 18, 2012 2:53am Jun 18, 2012 2:53am
Quoting Chanya
Hey , it was you who said to me last night to watch this cross remember ??? I was seeing nothing specific or eye catching on it , neither am I now ... I am just making assumptions what you meant when you said this to me



NOT COOL
Hey Chanya,

EurJpy is just chopping around 100 for a while now. It broke a small resistance by 100.3 - 100.5 this night.
I personally saw this as a possible breakout to 102 (50% ret of descending move that started 20th april).
I got it wrong, as I did for the EurCad pair as well. And my guess is Variance had the same reasoning - but I'm not Variance...

Anyway, as you can see on my chart, I'd rather wait for EurJpy to reach 103, or even better, 105. But I can be totally wrong

have a nice day,
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Slow & steady
  • #113,315
  • Jun 18, 2012 3:26am Jun 18, 2012 3:26am
Quoting Pinbar
Bet Jarroo is keeping his eye on this area.
Hello Pinbar, when you are taking these trades are you looking only for one pair where the signal is? im asking couse of correlation when for example you see strong downtrend or strong ressistance on EU are you taking buy signal on GU ? thank you
  • #113,316
  • Jun 18, 2012 3:47am Jun 18, 2012 3:47am
EURJPY is just in range between 99.00 and 101.00 ... filling gap at the moment. lets look how it will behave at 99.00 - 99.50 zone.
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all is eternal - this is good news for people who loves bad news
  • #113,317
  • Jun 18, 2012 3:50am Jun 18, 2012 3:50am
Quoting Rust
Hi guys, these days are crazy really. I have probably 30 pairs in the watchlist wow !
Here are two trades that i just took.
Don't mind the location of my entries, I just woke up and find the market already on the way, so somehow i adjusted Normally i open just one position on the break.

Hope you enjoy it (and more hopefully for me to enjoy a nice profit )

Attachment

Attachment
I feel good when i catch it such precisely

Less than 1:1 ? Yes. Still a very decent profit - absolutely !

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  • #113,318
  • Jun 18, 2012 4:24am Jun 18, 2012 4:24am
Quoting tinkerbelle
Hello Pinbar, when you are taking these trades are you looking only for one pair where the signal is? im asking couse of correlation when for example you see strong downtrend or strong ressistance on EU are you taking buy signal on GU ? thank you

Not really, I pay little attention to correlated pairs, I am just watching for former support or resistance to give me a sign that the area has flipped from one to the other.
The Gu weekly area was good but, no we have this H4 bar blasting through it, it may now act as resistance.
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  • #113,319
  • Jun 18, 2012 4:52am Jun 18, 2012 4:52am
Quoting patapouer
Hey Chanya,

EurJpy is just chopping around 100 for a while now. It broke a small resistance by 100.3 - 100.5 this night.
I personally saw this as a possible breakout to 102 (50% ret of descending move that started 20th april).
I got it wrong, as I did for the EurCad pair as well. And my guess is Variance had the same reasoning - but I'm not Variance...

Anyway, as you can see on my chart, I'd rather wait for EurJpy to reach 103, or even better, 105. But I can be totally wrong

have a nice day,

This could be an easier way to look at EJ.
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  • #113,320
  • Jun 18, 2012 5:05am Jun 18, 2012 5:05am
Quoting Pinbar
This could be an easier way to look at EJ.
Hi Pinbar,

Can you please confirm my understanding of your thoughts?
Instead of breaking the daily LCS, price made an inside bar, thus enhancing the LCS resistance.

Am I right?

thanks for your help!
Slow & steady
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