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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

  • #115,601
  • Aug 15, 2012 4:11pm Aug 15, 2012 4:11pm
A trade couldn't run better then this meshka, well done!
  • #115,602
  • Aug 15, 2012 4:18pm Aug 15, 2012 4:18pm
Quoting bullzeye
USD/CAD

add third position here...look on this daily pin it goes with the trend...will try to sell this suckar to the bones

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USD/CAD

last and final position...my target is near, so my SL is also tight

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  • #115,603
  • Aug 15, 2012 4:22pm Aug 15, 2012 4:22pm
Quoting m00nchild
Sometimes the market is mad at us :-) See what happened on Eur/USD H4.
I think the entry wasn't too bad with confluence and PA candle.

Have fun!
See where u went trading into!!? And kinda small pin going against that push up. My advice: Avoid trading H4 and go Daily and above. Hell i stopped trading H4 charts just becouse trades like this. Lower u go with TF harder is to trade this signals. My humble opinion ofcourse

Regards
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  • #115,604
  • Aug 15, 2012 4:47pm Aug 15, 2012 4:47pm
Quoting gasgas
See where u went trading into!!? And kinda small pin going against that push up. My advice: Avoid trading H4 and go Daily and above. Hell i stopped trading H4 charts just becouse trades like this. Lower u go with TF harder is to trade this signals. My humble opinion ofcourse

Regards
Thats exactly right gasgas and ecaxtly the critique I need! Hope to get better and better over time, appreciate your input!
  • #115,605
  • Aug 15, 2012 5:01pm Aug 15, 2012 5:01pm
Quoting gasgas
See where u went trading into!!? And kinda small pin going against that push up. My advice: Avoid trading H4 and go Daily and above. Hell i stopped trading H4 charts just becouse trades like this. Lower u go with TF harder is to trade this signals. My humble opinion ofcourse

Regards
simple but very strong post

Good one G


Mike
  • #115,606
  • Aug 15, 2012 7:09pm Aug 15, 2012 7:09pm
Quoting mbqb11
Hey Y

THis one's pretty much been in a free fall so not much that I look to do

From a lower timeframe perspective we see some divergence loss of momentum kicking in here so that might be a heads up to start watching closer, but I want to see something substantial to fight a strong trend, or at least keep my mentality short term and relative to the timeframe

Best
Mike
hello mike
thanks.
Enter Signature
  • #115,607
  • Edited 8:25pm Aug 15, 2012 7:57pm | Edited 8:25pm
Quoting m00nchild
Sometimes the market is mad at us :-) See what happened on Eur/USD H4.
I think the entry wasn't too bad with confluence and PA candle.

Have fun!

Attachment
Did you read J16's post number 1?
The market is not mad at you, you just did not notice how small that bar was, the fact that the open was half way up the bar(on my feed), there was a PPZ right below the entry, the 150 EMA was also confluencing with the PPZ, the size of the previous bar in comparison to that bar.

Do yourself a favor and read J16s post, he wrote it for good reason.


MINIMUM REQUIREMENTS / THIS IS A BUSINESS







WHATEVER / WHICHEVER WAY YOU DECIDE TO TRADE YOU MUST (AT A MINIMUM):

  1. ON DAILY AND WEEKLY TIME-FRAMES, YOU ONLY DEMO-TRADE FOR THREE CONSECUTIVE PROFITABLE MONTHS IN A ROW. YOU DO NOT PROCEED TO STEP TWO UNTIL COMPLETED.
  2. OPEN AN ACCOUNT WITH HALF OF THE INVESTMENT YOU INTENDED TO GO FULL WITH AND CONTINUE TO ONLY TRADE DAILY AND WEEKLY TIME-FRAMES UNTIL YOU ARE PROFITABLE THREE MONTHS IN A ROW MINIMUM. YOU NEVER RISK MORE THAN TWO PERCENT OF YOUR ACCOUNT ON ANY ONE TRADE. YOU DO NOT PROCEED TO STEP THREE UNTIL STEP TWO IS COMPLETED.
  3. FUND A FULL ACCOUNT AND CONTINUE TO ONLY TRADE DAILY AND WEEKLY TIME-FRAMES UNTIL YOU ARE CONSISTENTLY BUILDING YOUR ACCOUNT FOR AT LEAST SIX MONTHS. YOU NEVER RISK MORE THAN 2 OR 3 PERCENT OF YOUR ACCOUNT ON ANY ONE TRADE.
  4. IF AND WHEN YOU DECIDE TO DAYTRADE ON A SMALL TIME-FRAME AND YOU DON'T FOLLOW THIS TEMPLATE, AT A MINIMUM, YOU ARE ALMOST CERTAINLY GOING TO FIND YOURSELFE IN TROUBLE. IF YOU ARE GOING TO FOLLOW A SYSTEM OR ANY TRADING STYLE AND YOU DON'T FOLLOW THIS TEMPLATE AS FAR AS THE DEMO PROCESS, YOU ARE NOT TREATING IT AS A BUSINESS AND YOU HAVE NO ONE TO BLAME OTHER THAN YOURSELF IF YOU LOSE YOUR MONEY.
  5. IF YOU EVER SUFFER THE LOSS OF 30 TO 35 PERCENT OF YOUR ACCOUNT, YOU STOP TRADING. PERIOD-PARAGRAPH. YOU GO BACK TO DEMO AND FIGURE OUT WHAT WENT WRONG. WHILE DOING THIS, YOU REFUND YOUR ACCOUNT BACK TO ITS ORIGINAL AMOUNT. YOU DO NOT GO BACK TO LIVE TRADING AGAIN UNTIL YOUR DEMO HAS SHOWN YOU WHAT WENT WRONG AND YOUR ACCOUNT IS BACK TO FULL STRENGTH BY WHATEVER MEANS. IF IT TAKES ONE MONTH OR SIX MONTHS, IT DOES NOT MATTER. YOU MUST FOLLOW THIS APPROACH IF YOU DON'T WANT BLOWN ACCOUNT AFTER BLOWN ACCOUNT.

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  • #115,608
  • Aug 15, 2012 8:05pm Aug 15, 2012 8:05pm
A little unsure about what to do now with my GBP NZD Trades ... PHANTI , your point of view is required man ...
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Human
  • #115,609
  • Aug 15, 2012 9:01pm Aug 15, 2012 9:01pm
What should I do with this Aussie?
Here are daily H4 n H1 charts.
Just follow the Daily Down?
Correct me please if I draw anything wrong in the chart.
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  • #115,610
  • Edited 9:26pm Aug 15, 2012 9:16pm | Edited 9:26pm
Suffered three minor losses this week ( 12 pip average ) ... Happens ....

I hope they were not my fault ... Lets see what Jarroo has to say about em ...

One of em would have been a BE but I decided not to go there as I was a little high on adrenaline ... Paid for it ...
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Human
  • #115,611
  • Aug 15, 2012 9:32pm Aug 15, 2012 9:32pm
Quoting mbqb11
Hey Y

THis one's pretty much been in a free fall so not much that I look to do

From a lower timeframe perspective we see some divergence loss of momentum kicking in here so that might be a heads up to start watching closer, but I want to see something substantial to fight a strong trend, or at least keep my mentality short term and relative to the timeframe

Best
Mike
So Mike (I'll assume you aren't in this trade), do you look for entries (continuation) after a trend has started without any meaningful PA or do you just ignore it until the trend ends and then look for PA that would signal a reversal of that trend?

Regards
Ray
  • #115,612
  • Aug 15, 2012 9:41pm Aug 15, 2012 9:41pm
One of the aspects I struggle with is committing to taking profits when it is available. Invariably I will set a BE point and a TP point - then when the trade reaches the TP point I'll adjust my stop below this point but not close the trade - as a result I have a lot of trades that exit at the stop for much less than I would have otherwise achieved if I have just closed the trade. My mindset is that perhaps the trade will yield more profit. Does anybody have any suggestions?
  • #115,613
  • Aug 15, 2012 11:44pm Aug 15, 2012 11:44pm
Quoting Chanya
A little unsure about what to do now with my GBP NZD Trades ... PHANTI , your point of view is required man ...
it's support turned resistance with a lot of supply there. anyway where did you exactly enter, where is your stop and where your target? i need more information to deliver you a idea in detail.

Also i guess you bought straight into supply.

Will be offline the next 12 hours, please quote this post and ill requote it later on when i return home.

Best,
Jonas
Hero calls followed by margin calls...
  • #115,614
  • Aug 16, 2012 3:52am Aug 16, 2012 3:52am
Mike,

somewhere in this thread I have read that if we have for example a bullish looking pinbar with a 'weak close' the path of least resistance (where the price is most likely to go) is actually south, because whatever orders there were that sent the price north are not there in the way anymore, so we should, anticipating a down move, put a pending order below the pin.

However, how do I tell a 'weak close' from a 'strong close'? Could you please post a chart for illustration please?

By the way the date on which I shall join the PF is getting closer. Also, the realization you are only three years older than myself came as a shock to me, coloring my skin green with envy of your forex success
  • #115,615
  • Aug 16, 2012 4:20am Aug 16, 2012 4:20am
Quoting xiaoxin
What should I do with this Aussie?
Here are daily H4 n H1 charts.
Just follow the Daily Down?
Correct me please if I draw anything wrong in the chart.
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I don't think there is any place to trade on your chart.

Those Trend Lines really don't have much meaning.

There is a pretty strong bullish trend going on right now, Yes, it closed below the monthly level but, note those two large weekly consolidation boxes with the PPZ running between them.
Also, the daily looks bullish and has a small daily PB. I would not short this until we see some serious bearish PA.
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  • #115,616
  • Aug 16, 2012 4:40am Aug 16, 2012 4:40am
Quoting meshka
and we have strong close.
Brilliant !!!!
  • #115,617
  • Aug 16, 2012 5:22am Aug 16, 2012 5:22am
Quoting jsvihla
Mike,

somewhere in this thread I have read that if we have for example a bullish looking pinbar with a 'weak close' the path of least resistance (where the price is most likely to go) is actually south, because whatever orders there were that sent the price north are not there in the way anymore, so we should, anticipating a down move, put a pending order below the pin.

However, how do I tell a 'weak close' from a 'strong close'? Could you please post a chart for illustration please?

By the way the date on which I shall join the PF is...
Well...it's pretty obvious to me - when I see it, I just know, there are many factors, different kinds of closures...but I'll try to explain how I see it...
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  • #115,618
  • Aug 16, 2012 5:46am Aug 16, 2012 5:46am
GBP/JPY

an interesting level ahead: PPZ and TL...wait for PA

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  • #115,619
  • Aug 16, 2012 6:04am Aug 16, 2012 6:04am
Quoting bullzeye
GBP/JPY

an interesting level ahead: PPZ and TL...wait for PA

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Nice indeed - 125 lvl + weekly and daily HCR. I'm watching this too now - thank for the tip

cheers
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  • #115,620
  • Aug 16, 2012 7:52am Aug 16, 2012 7:52am
Quoting midsea
So Mike (I'll assume you aren't in this trade), do you look for entries (continuation) after a trend has started without any meaningful PA or do you just ignore it until the trend ends and then look for PA that would signal a reversal of that trend?

Regards
Ray
Hey Ray

YEs we can look for entries in all kinds of markets, trending, sideways, swinging etc. The best starting place though is to look for good PA and confluence at the proper swing points as James teaches when starting out. Continuation patterns are more advanced and I tend to shy away from posting them as much in here.

Best
Mike
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