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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

  • #113,421
  • Jun 20, 2012 12:19am Jun 20, 2012 12:19am
Quoting Chanya
Here is a chart below .... Plz look at it and tell me , When PBT&CA , which levels should have been used to enter long ??? Why ??? Why not other one ??? Plus I cannot find the FTA ... How should have it been managed ??? Thnks
Yeah this was a tricky one on the daily . .the Weekly PBT&CB did the trick . .
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Indicators show the past. Price Action "Indicates" the future.
  • #113,422
  • Jun 20, 2012 12:24am Jun 20, 2012 12:24am
Quoting Chanya
I did not took these trades but I cannot figure them out even in a back testing either ..... Jarroo , Help Please ....
Not sure what levels you were looking at but this one was a Classic . .
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Indicators show the past. Price Action "Indicates" the future.
  • #113,423
  • Jun 20, 2012 12:40am Jun 20, 2012 12:40am
Quoting Chanya
I was thinking as a point of view from a trader who trades small accounts ... They tend to over trade because generally , they are not happy with the returns .... Look at the chart below and an example .... Its a daily USD SEK chart ...
Keep at it, Chanya . .
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Indicators show the past. Price Action "Indicates" the future.
  • #113,424
  • Jun 20, 2012 12:56am Jun 20, 2012 12:56am
Quoting Chanya
If somebody is familiar with Jarroo method , kindly Guide me with this one .... I wonder where he himself is .... On which Level should the entry have been ??? Where the initial stops have been ??? And when should we have moved to BE ???
The 1.5633 was a great level to enter because the previous Daily bar could not close below it . .Daily Close Confirmation of Support.

I still like to see the 1.5567 tested as Support..
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Indicators show the past. Price Action "Indicates" the future.
  • #113,425
  • Jun 20, 2012 1:50am Jun 20, 2012 1:50am
Quoting ricosta
I use a leverage of 100. At the end it doesn't matter as you only risk a percentage amount (between 1 and 3 is recommended) of your trading account. Higher leverage and larger stop loss get balanced with the lot size you do purchase. FI: if your s/l is 25 pips and your lot size is 0.5. then if your s/l is 50 pips your lot size will be 0.25.

Does that makes sense?
Yep, makes sense! Thanks for the input Ricosta!
  • #113,426
  • Jun 20, 2012 2:12am Jun 20, 2012 2:12am
Quoting C-12
Anyone looking at AUDCAD?
I am watching this one as well, looking for a good price action signal.
  • #113,427
  • Jun 20, 2012 2:43am Jun 20, 2012 2:43am
Quoting jarroo
You nailed it GH . .

Some caught it a little earlier . .

Sadly i was in only on Friday.... Now its aproaching my projected target ... damn !
  • #113,428
  • Jun 20, 2012 3:00am Jun 20, 2012 3:00am
Jarroo.. can you help me with this. Where is the LCS in the blue box?
The close of the red or green candle? This happens often on weekly charts.
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  • #113,429
  • Jun 20, 2012 5:46am Jun 20, 2012 5:46am
Quoting bullzeye
USD/CAD

i took this one short:

- down TL
- BRN 1.0200
- some kind of H&S pattern
- broke the support

Attachment
This is definitely interesting and i am even with you on this one (sold the H8 BEOB on retrace). But i opened 1/10 of my full risk, because there is something not optimal. I will try to explain it on the chart.

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  • #113,430
  • Edited 6:22am Jun 20, 2012 6:09am | Edited 6:22am
Quoting jarroo
I like this one . .
JIM YOU SHARK !!!!!!

well... at least i'm the orange one LOL

or the red one HAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

edit - the smaller red one on the "right" so i can scalp little tad poles HAHAHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!1
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  • #113,431
  • Jun 20, 2012 6:16am Jun 20, 2012 6:16am
Jim, I'm just curious..... say if price cuts through and closes below the swing low, what factors/variables about the "swing" that may void your decision to make a play at the flip with or without candlestick confirmation, say like this one here:
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  • #113,432
  • Jun 20, 2012 6:37am Jun 20, 2012 6:37am
Quoting Rust
This is definitely interesting and i am even with you on this one (sold the H8 BEOB on retrace). But i opened 1/10 of my full risk, because there is something not optimal. I will try to explain it on the chart.

Attachment
Also the right shoulder is not perfect. Neck line is not perfect. But it really looks like SHS. Easily recognizable.
If not up, then down, otherwise sideways :-)
  • #113,433
  • Edited 7:00am Jun 20, 2012 6:48am | Edited 7:00am
Quoting Variance
Jim, I'm just curious..... say if price cuts through and closes below the swing low, what factors/variables about the "swing" that may void your decision to make a play at the flip with or without candlestick confirmation, say like this one here:
I'm not a senior member, but I would make a Touch trade if price makes smth like that. It is squeezed down. So we have a formation. Would be also nice if our support were a BRN. In your example I would wait bar confirmation.

Live example (valid touch trade with a good chance of success).
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If not up, then down, otherwise sideways :-)
  • #113,434
  • Edited 7:24am Jun 20, 2012 6:51am | Edited 7:24am
Quoting Magestic
I'm not a senior member, but I would make a Touch trade if price makes smth like that. It is squeezed down. So we have a formation. In your example I would wait bar confirmation.
I like it , thank you

Mike was right, sometimes it's best to stick with the same timeframe

No matter how much i rediscover, Mike and Jim are always ahead of me
  • #113,435
  • Jun 20, 2012 7:22am Jun 20, 2012 7:22am
Anyone long EURNZD?
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  • #113,436
  • Jun 20, 2012 7:30am Jun 20, 2012 7:30am
Quoting C-12
Anyone long EURNZD?
I think you should be careful taking weak pinbars against a strong move. Or at least get out VERY quickly.
  • #113,437
  • Edited 8:11am Jun 20, 2012 7:33am | Edited 8:11am
Quoting C-12
Anyone long EURNZD?
no but it looks beautiful, not as good as the colour of my avatar but still beautiful (LOL KIDDING!!)

would've been better if we had an earlier entry and just play the RRRrrrev

edit- hey Rust old buddy I so agree with you, at least in isolated circumstances but I'm just starting to learn to think outside the box and books for a while....

reedit- actually Rust you're spot on, we should probably be sellin now... i should really stop posting until 2014 LOL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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  • #113,438
  • Jun 20, 2012 7:36am Jun 20, 2012 7:36am
Quoting C-12
Anyone long EURNZD?
well, looking at it, but lacking PA trigger (edit: at least on my feed...)
and I'm a bit in a mess with 2 other trades so I'll just follow it by curiosity...
Slow & steady
  • #113,439
  • Edited 7:47am Jun 20, 2012 7:36am | Edited 7:47am
Quoting Rust
I think you should be careful taking weak pinbars against a strong move. Or at least get out VERY quickly.
I agree the pin is average and the trade is very counter trend.

On reflection I probably would have waited for clearing the resistance at around 1.59500 before pulling the trigger. We'll see!

The trendline, 1.61 level and 38.2% fib confluence looks like an area price wants to go.
Quoting Variance
no but it looks beautiful, not as good as the colour of my avatar but still beautiful (LOL KIDDING!!)
It's all about the cornsilk background.
  • #113,440
  • Jun 20, 2012 7:55am Jun 20, 2012 7:55am
Quoting Chanya
If somebody is familiar with Jarroo method , kindly Guide me with this one .... I wonder where he himself is .... On which Level should the entry have been ??? Where the initial stops have been ??? And when should we have moved to BE ???
Here's what I did last night. PBT+CA on the Daily. Buy Limit order on a retrace to the Daily level. Stop placed below the low of the day. There was a spike lower on interest rate news from the BOE early this morning which might have got me out if i used a tighter stop. Will now move stop to B/E. Price has broken through yesterdays highs so i will monitor watch to see if I can hit my target.
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