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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

  • #115,341
  • Aug 12, 2012 2:31am Aug 12, 2012 2:31am
Hello Mike and other seniors, kindly comment on this chat.

Thanks
Yomi
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  • #115,342
  • Aug 12, 2012 2:35am Aug 12, 2012 2:35am
It has been a long time since I posted here.
Not for lack of wanting but for lack of internet.& time ... yes I know all who know me will understand.
But I still come here ( as I'm sure mikey knows) as often as I can. But thats not the point right now..

I'm writing to let all the new people, know that it is possible to change your life with hard work & beleife in one self.
Yes I have my own way of trading...not jaroo,or mike or Jim or Gos or Rac or I could go on.... But I do make good money consistantly... ie EVRY WEEK.
The point is, I think, that every person needs to find their own way of trading. Be it short term or long or both. Try both if you want.. I do it..

I tried trading full time & it hurt the first time... I now trade when I can (giving my location) but I do what I love...... I sail all over the world on a modern classic sailing yacht & I love it. Yes I get paid to sail but I would do it for free.
More to the point is that I have been given the chance to learn to trade from the profesionals while I work/sail & I have taken my time.
BE PATIENT....... is the lesson that is not emphasised here enough. I know its hard when you are young but if this is what you want to be good at then you will have to learn patience... ask Mike..

To All who read this... Think yourself lucky you are reading this thread. you could do a lot worse.......

Without Jim & Mike & Patrick & Rac & Fiji, I would not be where I am today...
Thank you.........


Cheers
Jeff
  • #115,343
  • Aug 12, 2012 5:12am Aug 12, 2012 5:12am
these was good inspiring words jeff... thank You.
all is eternal - this is good news for people who loves bad news
  • #115,344
  • Aug 12, 2012 6:46am Aug 12, 2012 6:46am
Quoting casapips
Salam Chanya

What do you think about this case?
PBT & close above the zone but failure ..

Merci

casapips
Quoting deltaskelta
Chanya, some of the stuff you posted threw me off a little bit, so I'd just like to check some stuff. The picture pretty much says it all, but there is also a PBT&CA right next to what you posted as a PBT&CB, just wondering if there was any reason not to take the CA trade that happened right before?
The good news about when these setups don't work out as expected, is that there is a very good chance they will work in the other direction . . at the same level.

Here's some charts and how I marked out the levels.

Stop loss above or below the bar that PBT&CAorB is a S/L placement I like very much . .but there can be other stop loss placement levels.
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Indicators show the past. Price Action "Indicates" the future.
  • #115,345
  • Aug 12, 2012 6:55am Aug 12, 2012 6:55am
Quoting jarroo
The good news about when these setups don't work out as expected, is that there is a very good chance they will work in the other direction . . at the same level.

Here's some charts and how I marked out the levels.

Stop loss above or below the bar that PBT&CAorB is a S/L placement I like very much . .but there can be other stop loss placement levels.
It is great to see you here Jim ..... Can't tell you how much you have been missed ,

Here are my few trades from last few days ... I do not share everything I do here because new comers take it as a signal of some sort which is not a good thing to do unless they learn first ...
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Human
  • #115,346
  • Aug 12, 2012 7:05am Aug 12, 2012 7:05am
Quoting LaurenceDale
Hey all,

First post in this thread. Thank you everyone for the helpful posts here - Huge huge thanks to Chanya for producing the Price Breaks Through pdf. I have been following the thread for a while but have never tried to apply the method to my own existing trading strategies. This pdf has given me the basic understanding (I hope), and now I will try some of these out on demo.

Could someone take a look at this potential trade setup on NZDUSD and tell me if I've got the right idea here. Any feedback would be very much appreciated.

Thanks...
Nice levels Laurence .. To bad price hasn't come back to those HCR levels at the .8031-.8040 level. I like the S/L below the bar that PBT&CA (in Blue). . .I don't think Price is done with these level just yet . .

Also notice where price went down from . .the HCR levels (in green) not the highs . .at .8215-.8221
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Indicators show the past. Price Action "Indicates" the future.
  • #115,347
  • Edited 7:45am Aug 12, 2012 7:21am | Edited 7:45am
Quoting Chanya
It is great to see you here Jim ..... Can't tell you how much you have been missed ,

Here are my few trades from last few days ... I do not share everything I do here because new comers take it as a signal of some sort which is not a good thing to do unless they learn first ...
What can I say Chanya . . those are some great charts.

I like the levels that you are thinking to add to your position. I think the better approach is to bank the 1st position and enter the "added position" as an individual trade. So if it doesn't go your way, you have that cash in the bank.

Got to love those multi time frame levels. . .meaning when there is a Weekly and Daily LCS level at the same level on both time frames.

Fanastic job Chanya . .

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #115,348
  • Aug 12, 2012 7:28am Aug 12, 2012 7:28am
Quoting jarroo
What can I say Chanya . . those are some great charts.

I like the levels that you are thinking to add to your position. I think the better approach is to bank the 1st position and enter the "added position" as an individual trade. So if it doesn't, go your way, you have that cash in the bank.

Got to love those multi time frame levels. . .meaning when there is a Weekly and Daily LCS level at the same level on both time frames.

Fanastic job Chanya . .

Jim

S/L can be here too on the Daily . (2nd chart).
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Indicators show the past. Price Action "Indicates" the future.
  • #115,349
  • Aug 12, 2012 7:42am Aug 12, 2012 7:42am
Quoting Hotwinter
Looking for this set up.
Nice S/L placement HW. Below the Low of the bar that PBT&CA kept you safe.

Price sure bounced around those HCR levels like a pinball machine ( I guess that comment showed my age. .lol)

Finally PBT&CA out of the pinball machine and bounce right where we expected. . Bam!

Jim
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Indicators show the past. Price Action "Indicates" the future.
  • #115,350
  • Aug 12, 2012 8:04am Aug 12, 2012 8:04am
Quoting jarroo
What can I say Chanya . . those are some great charts.

I like the levels that you are thinking to add to your position. I think the better approach is to bank the 1st position and enter the "added position" as an individual trade. So if it doesn't go your way, you have that cash in the bank.

Got to love those multi time frame levels. . .meaning when there is a Weekly and Daily LCS level at the same level on both time frames.

Fanastic job Chanya . .

Jim
Thank you for the advice brother but I have never ( Or very Rarely ) seen a trade not hitting atleast the first level so I move to BE and then , Adding to the position sound and proves more profitable to me then closing the previous position and opening a new one .... Recent AUD CHF uptrend is a awesome example of that for me ... I continued adding positions and the trend turned out to be a gold mine for me ... Here at FF I shared everytime when I added to the position ... Chart below ...
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Human
  • #115,351
  • Edited 10:18am Aug 12, 2012 8:12am | Edited 10:18am
Quoting Chanya
Thank you for the advice brother but I have never ( Or very Rarely ) seen a trade not hitting atleast the first level so I move to BE and then , Adding to the position sound and proves more profitable to me then closing the previous position and opening a new one .... Recent AUD CHF uptrend is a awesome example of that for me ... I continued adding positions and the trend turned out to be a gold mine for me ... Here at FF I shared everytime when I added to the position ... Chart below ...
Agreed Chanya . .Its not a bad way to go when the pair is trending strong. But money in the bank is hard to lose. ( I opened myself up to that comment . . lol).

These levels really start hitting when the pair starts trending. NzdChf example.
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Indicators show the past. Price Action "Indicates" the future.
  • #115,352
  • Aug 12, 2012 8:28am Aug 12, 2012 8:28am
Quoting jarroo
Agreed Chanya . .Its not a bad way to go when the pair is trending strong. But money in the bank is hard to lose. ( I opened myself up to that comment . . lol).

These levels really start hitting when the pair start trending. NzdChf example.
Have you ever tried trading the metals ( Gold and Silver ) ??? Those are the only things I can not seems to be able make them work ...
Human
  • #115,353
  • Edited 9:14am Aug 12, 2012 8:48am | Edited 9:14am
Quoting Chanya
Have you ever tried trading the metals ( Gold and Silver ) ??? Those are the only things I can not seems to be able make them work ...
I don't think you are having a problem of making them work Chanya . .its that they are very choppy markets right now.

Looking to the Weekly TF always makes things look better to see what is going with these types of choppy markets.

Price is consolidating between two LCS levels on Silver. We'll just wait until we get a close above or below to see that next opportunity.
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Indicators show the past. Price Action "Indicates" the future.
  • #115,354
  • Edited 10:29am Aug 12, 2012 9:47am | Edited 10:29am
Check out how this Weekly and Daily LCS level (same levels) on the UsdJpy is making Price dance on the Daily and lower time frames.

It is still my contention that the Highs and Lows of Price are born from the Close of Price. .specifically the HCR and LCS levels.

I'll let you decide if there were low risk opportunities to long this pair at these levels.
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Indicators show the past. Price Action "Indicates" the future.
  • #115,355
  • Aug 12, 2012 9:50am Aug 12, 2012 9:50am
Quoting jarroo
Check out how this Weekly and Daily LCS level (same level) on the UsdJpy is making Price dance on the Daily and lower time frames.

It is still my contention that the Highs and Lows of Price are born from the Close of Price. .specifically the HCR and LCS levels.

I'll let you decide if there were low risk opportunities to long this pair at these levels.
Long how ???
Human
  • #115,356
  • Aug 12, 2012 9:52am Aug 12, 2012 9:52am
Quoting Chanya
Long how ???
You know, buy . .to go long at these levels.
Indicators show the past. Price Action "Indicates" the future.
  • #115,357
  • Aug 12, 2012 9:54am Aug 12, 2012 9:54am
Quoting jarroo
You know, buy . .to go long at these levels.
Ofcourse I know what long Means ... I meant based on what ? There is no PBT ...
Human
  • #115,358
  • Edited 10:20am Aug 12, 2012 10:02am | Edited 10:20am
Quoting Chanya
Ofcourse I know what long Means ... I meant based on what ? There is no PBT ...

Sorry about that chanya . .I guess I haven't talked about it much in this thread . .mainly just in the PF.

But there are opportunities when Price approaches a HCR/LCS level and Price Breaks Through and Doesn't Close Above or Below.

The UsdJpy chart is an example of this. The LCS Level on the usdJpy stays a Support because Price can't Close below it . . . hence a long opportunity is present. .
Indicators show the past. Price Action "Indicates" the future.
  • #115,359
  • Aug 12, 2012 10:04am Aug 12, 2012 10:04am
Quoting rustyjeff
It has been a long time since I posted here.
Not for lack of wanting but for lack of internet.& time ... yes I know all who know me will understand.
But I still come here ( as I'm sure mikey knows) as often as I can. But thats not the point right now..

I'm writing to let all the new people, know that it is possible to change your life with hard work & beleife in one self.
Yes I have my own way of trading...not jaroo,or mike or Jim or Gos or Rac or I could go on.... But I do make good money consistantly... ie EVRY WEEK.
The point is, I...
Hey Jeff

Good to see you pop in, have seen your name floating around(no pun intended! LOL) below

Safe travel on those seas brotha

Best
Mike
  • #115,360
  • Aug 12, 2012 10:16am Aug 12, 2012 10:16am
Quoting yomex_y2
Hello Mike and other seniors, kindly comment on this chat.

Thanks
Yomi
Hey Yomi

I think this is a fantastic area. I personally would like to see a stronger close bar to play it off the weekly. I am still short this one from 1.0537 so I am hoping this weekly beob helps push us lower as well though. Great resistance area at 1.0500

Best
Mike
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