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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

  • #114,461
  • Jul 19, 2012 7:04am Jul 19, 2012 7:04am
Quoting mbqb11
Nice and easy one right Tod
Congratulations on it Worked out brilliantly.
  • #114,462
  • Jul 19, 2012 7:04am Jul 19, 2012 7:04am
Quoting Chanya
Making a post after a few weeks . Had almost 6 BE daily trades within this time , had 7 winners and 1 loss . Below are four out of seven trades that I took
Quoting Chanya
These are the rest of the three trades ... Its not a dream but a reality !!!
Quoting Chanya
Thank you . Its actually very very easy now that Have spent so much time on it . Believe me , I have not slept many nights , stayed in front of my computer for consecutive 15 hours at a time while learning for months . Now , Its paying off ....
great effort but u have not done enough brother.
I have stayed in front of my PC for more than 24-40 hours on many occasions (during my insomniac days)
i am joking but it's true

having said that, i do not recommend it
Fantastic charts, Sir
  • #114,463
  • Jul 19, 2012 7:07am Jul 19, 2012 7:07am
Great trades Chanya. Markets are trending right now and that's always good for us, just don't forget that they spent most of the time consolidating and you have to be prepared Don't let 'em spank you
  • #114,464
  • Jul 19, 2012 7:11am Jul 19, 2012 7:11am
Quoting supremeChaos
great effort but u have not done enough brother.
I have stayed in front of my PC for more than 24-40 hours on many occasions (during my insomniac days)
i am joking but it's true

having said that, i do not recommend it
Fantastic charts, Sir

THAT is really something .... DAMN !!! 40 Hours ? Seriously ? Don't do that again bro , or your nails will start to fall off from sleep deprivation ...
Human
  • #114,465
  • Jul 19, 2012 7:13am Jul 19, 2012 7:13am
Quoting Rust
Great trades Chanya. Markets are trending right now and that's always good for us, just don't forget that they spent most of the time consolidating and you have to be prepared Don't let 'em spank you

Thank you . Yup I agree about the consolidation thingy , but I always move to BE as soon as I can logically , so consolidations don't hurt or scare me !!!
Human
  • #114,466
  • Jul 19, 2012 7:14am Jul 19, 2012 7:14am
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  • #114,467
  • Jul 19, 2012 7:20am Jul 19, 2012 7:20am
Quoting Magestic
Mike. wouldn't you mind i'll ask you to analyze this one. What i saw here were: nice DBHLC witj a strong close below the rising TL, rejection off 150 EMA, RN and also rounding effect of the price. This setup was only lack of a divergence. I took this one on the break of DBHLC. I didn't cancel the order when it didn't break the very next bar, coz that was off market time. I left it in BE 8 hours later after it triggered, coz price didn't go down fast, price stalled.
This setup reminds me your video in guest area ( it was live 4H BEOB on NZD/USD...
I'm not Mike, but it looks brilliant to me. I call this pattern a pitka. I was very close to play the breakout. The thing that stopped me was trading back to the 1.9500.
This rounding type highs are super strong signal in my view.
  • #114,468
  • Jul 19, 2012 7:38am Jul 19, 2012 7:38am
Quoting Rust
Attachment
I only watch the majors so I miss these. But that is a beauty. I haven't yet developed the nack for watching multiple pairs or markets for that matter.
  • #114,469
  • Jul 19, 2012 7:45am Jul 19, 2012 7:45am
Quoting Chanya
Making a post after a few weeks . Had almost 6 BE daily trades within this time , had 7 winners and 1 loss . Below are four out of seven trades that I took ... All thanks to JARROO ......
Happy to see u having a lot of green pips... mashaAllah

I want to know that can u please when u enter a trade (like these ones in charts) on a break...where do u put your SL.

and one more thing...I have uploaded two charts today

http://www.forexfactory.com/showthre...17#post5855517

I would be thankfull if u could throw some shadow on that also..though if I had entered at the time of uploading the charts..at this time I would have been enjoying 50+ pips on both setups.

regards
aslam
  • #114,470
  • Jul 19, 2012 8:12am Jul 19, 2012 8:12am
Quoting Hotwinter
Happy to see u having a lot of green pips... mashaAllah

I want to know that can u please when u enter a trade (like these ones in charts) on a break...where do u put your SL.

and one more thing...I have uploaded two charts today

http://www.forexfactory.com/showthre...17#post5855517

I would be thankfull if u could throw some shadow on that also..though if I had entered at the time of uploading the charts..at this time I would have been enjoying 50+ pips on both setups.

regards
aslam
Hey Aslam , How are you buddy ? Sure I would love to help you but for that , tell me are these daily charts ??? Or some other time frame ???
Human
  • #114,471
  • Jul 19, 2012 8:28am Jul 19, 2012 8:28am
Quoting Chanya
Hey Aslam , How are you buddy ? Sure I would love to help you but for that , tell me are these daily charts ??? Or some other time frame ???

Im fine..as much as u are.....thanks Chanya :

These are daily timframe charts.


And here is one another question knocking severely the door of my mind.

After how many green pips do u move to BE?
  • #114,472
  • Jul 19, 2012 8:34am Jul 19, 2012 8:34am
Quoting Hotwinter
Happy to see u having a lot of green pips... mashaAllah

I want to know that can u please when u enter a trade (like these ones in charts) on a break...where do u put your SL.


aslam
As far as stop loss is concerned , the thing or concept to remember is , we are basing our trade on a particular level ( I am refering to HCR's and LCS's ) assuming that it will hold . If that level does not hold , we are out . Our whole setup revolves around that level . So , keeping that in mind , we have the privilege of keeping our stops very small . So , simply , we must keep our stops close to the area we enter which means they should be small , and they should behind a nearest area where we feel that they are secure ... You may get confused through the wordings . Plz refer to the charts below ... Yellow zones are where I would have kept my stops behind ...
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Human
  • #114,473
  • Jul 19, 2012 8:40am Jul 19, 2012 8:40am
Quoting Hotwinter
Im fine..as much as u are.....thanks Chanya :

These are daily timframe charts.


And here is one another question knocking severely the door of my mind.

After how many green pips do u move to BE?
Brother , there are two things to learn at this point . First is , There is no fixed number of pips at which I move . I move to BE at the First level that comes in my way . Now the trick is to find exactly where the first level exist . For that , I would recommend watching few Jarroo's charts on which he had drawn the levels ... I do not take partial profit at the FTA , I do not measure the RR , I just simply move to BE . Because I am not greedy . I know that if I got taken out , I will always have next day to trade ...

Second and most important for you ... CHANGE YOUR BROKER . Your charts and the data on them are not correct . Here are the daily charts of those two pairs . Can you see the difference ???
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Human
  • #114,474
  • Jul 19, 2012 11:02am Jul 19, 2012 11:02am
Hello traders,

would you bother to comment if this is the price action bullish setup in the rectangle down there? The two lows are only 2 pips apart on 4hour chart and the second bar closed higher than the first bar. However, there was very little retracement so I wouldn't have taken it but the question is whether it was a valid bullish price action setup?

Thanks,
good luck.
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  • #114,475
  • Jul 19, 2012 11:13am Jul 19, 2012 11:13am
Quoting Chanya
Brother , there are two things to learn at this point . First is , There is no fixed number of pips at which I move . I move to BE at the First level that comes in my way . Now the trick is to find exactly where the first level exist . For that , I would recommend watching few Jarroo's charts on which he had drawn the levels ... I do not take partial profit at the FTA , I do not measure the RR , I just simply move to BE . Because I am not greedy . I know that if I got taken out , I will always have next day to trade ...

Second and most important...

Chanya! thanks for pointing the Jaroo's charts to find that first level where the trader have to get vigilant.

But Im amazed how my charts are different from your ones. But if i use some other broker's charts, then I think the change of the broker would not be that much important...what do u say???

I would be happy if u let me know which broker's charts do u use for your trading.??

And the most Important, i have always been struggling to understand the very basic philosophy of FTA...why u people use this terminology and how to find this FTA...???


Regards
ASlam
  • #114,476
  • Jul 19, 2012 11:21am Jul 19, 2012 11:21am
Quoting jsvihla
Hello traders,

would you bother to comment if this is the price action bullish setup in the rectangle down there? The two lows are only 2 pips apart on 4hour chart and the second bar closed higher than the first bar. However, there was very little retracement so I wouldn't have taken it but the question is whether it was a valid bullish price action setup?

Thanks,
good luck.
Hey J ,
i think it's a very good setup. I bet there is very nice divergence that made this buob work so well

Welcome
  • #114,477
  • Jul 19, 2012 11:28am Jul 19, 2012 11:28am
Quoting Hotwinter
Chanya! thanks for pointing the Jaroo's charts to find that first level where the trader have to get vigilant.

But Im amazed how my charts are different from your ones. But if i use some other broker's charts, then I think the change of the broker would not be that much important...what do u say???

I would be happy if u let me know which broker's charts do u use for your trading.??

[b]And the most Important, i have always been struggling to understand the very basic philosophy...
Your charts are showing the wrong data but It does not mean that every broker shows different data on the charts . Only your broker is showing wrong . The ones that are famous and right all have same thing on their charts . So , beware , do not rely on those charts that you use . I use Hot Forex as my Live broker . Their feed is as reliable as any . You can see the name of my broker at the left bottom of my charts .

FTA means first trouble area . I , as I have said it before , use it to move it to break even . How to find it ? Well , Simply put , its the first area that might halt or reverse our trade on us . If you have seen the Jarroo's charts , you will have notice how he drew his levels . First level that comes in a way is FTA .

Regards
Human
  • #114,478
  • Jul 19, 2012 11:59am Jul 19, 2012 11:59am
Quoting Rust
I'm not Mike, but it looks brilliant to me. I call this pattern a pitka. I was very close to play the breakout. The thing that stopped me was trading back to the 1.9500.
This rounding type highs are super strong signal in my view.
Thanks for your comment Rust. I remember u call it pitka, even wanted to use this word in my post . You were right price was stopped 40 pips lower 1.95. I'm glad i made a decision to get out, but I realy believed it could have a larger move.
If not up, then down, otherwise sideways :-)
  • #114,479
  • Jul 19, 2012 12:05pm Jul 19, 2012 12:05pm
Quoting Magestic
Thanks for your comment Rust. I remember u call it pitka, even wanted to use this word in my post . You were right price was stopped 40 pips lower 1.95. I'm glad i made a decision to get out, but I realy believed it could have a larger move.
Yeah, it's still pretty possible. I just don't like the bounce that big round numbers tend to do... so drawdown etc. Not that it won't work as you expect in the end, but it is hard to manage ...
  • #114,480
  • Jul 19, 2012 1:10pm Jul 19, 2012 1:10pm
Quoting Chanya
These are the rest of the three trades ... Its not a dream but a reality !!!

P.S I Trade a Live account !!
Great stuff I love this Jarroo stuff. Do you use the hourly signatures that Jarroo uses to get him out of bad trades or do you let them run on the dailys with a daily stop?
Cheers man
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