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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

  • #116,201
  • Aug 24, 2012 6:53am Aug 24, 2012 6:53am
Quoting Slider20
Hello all,

I've been lurking here and on the PF for a couple months now and think I'm ready to participate now. Thank you for the past and ongoing help. The continuous dedication is unprecedented anywhere else. I am learning about a lot more than just trading here.

-Slider
whoops I missed this post thanks Hans

Good to see you start to post Slider

Mike
  • #116,202
  • Aug 24, 2012 6:56am Aug 24, 2012 6:56am
EURAUD got higher than I expected in this first move up. It already nibbled at the roof of the consolidation area to the left. I moved my SL right under yesterday's bullish candle. I'm pretty confident that it moves further up but needs some room to breathe. My final target is 1.2160.
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Thanks J16, Sam Seiden, Udine and Jacko
  • #116,203
  • Aug 24, 2012 7:23am Aug 24, 2012 7:23am
Quoting bullzeye
SILVER

anybody on WL? looks interesting...TL, bearish IB and 38.2 Fib retrace

Attachment
Currently short silver with caution. Gold looks similar but broke and closed above it's downtrend line and popped above supply.

Having said that it was only a 2 touch trendline and it is overbought.
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  • #116,204
  • Aug 24, 2012 7:37am Aug 24, 2012 7:37am
Hi Mike, do you think this is a good signal? Price breaks out PPZ with BEOB, I don't like the close.

Plus daily trendline break as your latest chart.
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  • #116,205
  • Aug 24, 2012 7:52am Aug 24, 2012 7:52am
Quoting March2011
Hi Mike, do you think this is a good signal? Price breaks out PPZ with BEOB, I don't like the close.

Plus daily trendline break as your latest chart.
Hey March

Some people in the PF were looking at it based on this chart I posted.
http://www.forexfactory.com/showthre...44#post5953344


I think it's a good signal but with the former TL far away I am more worried about trade mgmt so decided against it myself on a friday. I have some USD exposure(still long usd/cad) so I am gonna sit tight but I think it certainly makes sense as a continuation off the channel


Best
Mike
  • #116,206
  • Aug 24, 2012 8:18am Aug 24, 2012 8:18am
Quoting March2011
Hi Mike, do you think this is a good signal? Price breaks out PPZ with BEOB, I don't like the close.

Plus daily trendline break as your latest chart.
FYI price is right at 236 fib
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  • #116,207
  • Aug 24, 2012 8:29am Aug 24, 2012 8:29am
Quoting HanSolo
EURAUD got higher than I expected in this first move up. It already nibbled at the roof of the consolidation area to the left. I moved my SL right under yesterday's bullish candle. I'm pretty confident that it moves further up but needs some room to breathe. My final target is 1.2160.
I got stopped out of this trade, I think my stop was too tight. Something I have to work on...

Is stop size more of a feel kinda thing? I find myself always keeping it super tight and getting stopped out, although still profiting.

I've been demo trading for 2months, before that I knew nothing (well, have a business degree, but nothing of practical trading). This month I returned 4% on my demo account in like 4 trades...Not as big as I thought it would be when I started, but 48%/year (If I can keep it up?) will make a fat account pretty quick. I 'm 24 so hopefully I'll have plenty of time to build...
  • #116,208
  • Aug 24, 2012 9:04am Aug 24, 2012 9:04am
Quoting deltaskelta
I got stopped out of this trade, I think my stop was too tight. Something I have to work on...

Is stop size more of a feel kinda thing? I find myself always keeping it super tight and getting stopped out, although still profiting.
Hey delta, stop placement has always been a mistery for me, too. It changed as soon as I understood what support and resistance really mean, why and where they happen. I still haven't grasped the whole thing but it helps a lot to place your SL according to what you see on the chart. Just keep on reading and demoing and you will soon understand, too. For the time being just pick some of the great trailing strategies you find in this thread and put them to the test.

You're really blessed, delta. You've got your whole life in front of you and have already found your way to trading. Just be patient and persisting and you can't but be succesful with it.

All the best,
Hans
Thanks J16, Sam Seiden, Udine and Jacko
  • #116,209
  • Aug 24, 2012 9:10am Aug 24, 2012 9:10am
Quoting deltaskelta
I got stopped out of this trade, I think my stop was too tight. Something I have to work on...

Is stop size more of a feel kinda thing? I find myself always keeping it super tight and getting stopped out, although still profiting.

I've been demo trading for 2months, before that I knew nothing (well, have a business degree, but nothing of practical trading). This month I returned 4% on my demo account in like 4 trades...Not as big as I thought it would be when I started, but 48%/year (If I can keep it up?) will make a fat account pretty quick....
Well interesting thought In fact, when you build you account (not pulling out money) and always get 4% every month - you should use compound interest...you probably know that - but too other who don't remember from high school...4% a month is sth about 60% a year...5% monthly - 80% a year...and 10% a month...over 200% a year...as they say: "Compound Interest Is Man's Greatest Invention"...just a thought to consider...just imagine...
  • #116,210
  • Aug 24, 2012 9:16am Aug 24, 2012 9:16am
What do you think about Gold? we have PBT&CA, and retes but i dont know it is a good (strong) HCR level, and on a weekly chart we have breakout a wekekly TL.

THX.
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  • #116,211
  • Aug 24, 2012 9:21am Aug 24, 2012 9:21am
DOOOOD massive confluence on AUDNZD!

I posted a chart with pretty much the same thing the other day on NYMEX miNY crude, and price just blew past it. Maybe price will respect all the factors this time...
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  • #116,212
  • Aug 24, 2012 9:26am Aug 24, 2012 9:26am
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  • #116,213
  • Aug 24, 2012 9:27am Aug 24, 2012 9:27am
Quoting HanSolo
Hey delta, stop placement has always been a mistery for me, too. It changed as soon as I understood what support and resistance really mean, why and where they happen. I still haven't grasped the whole thing but it helps a lot to place your SL according to what you see on the chart. Just keep on reading and demoing and you will soon understand, too. For the time being just pick some of the great trailing strategies you find in this thread and put them to the test.

You're really blessed, delta. You've got your whole life in front of you and have...
Thanks man, if you have time could you expand a little bit on what you found S/R really means...? or maybe point me to who had previous discussions about it so I can search for it here?
  • #116,214
  • Aug 24, 2012 9:28am Aug 24, 2012 9:28am
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  • #116,215
  • Aug 24, 2012 9:30am Aug 24, 2012 9:30am
Quoting Winston Reed
Yep - nice
  • #116,216
  • Aug 24, 2012 9:34am Aug 24, 2012 9:34am
Quoting deltaskelta
Thanks man, if you have time could you expand a little bit on what you found S/R really means...? or maybe point me to who had previous discussions about it so I can search for it here?
Have a look at this thread of mine: Why Is Price Doing What It's Doing?
You'll find some great answers and links in it. It all + this thread helped me to understand the concept better.
Thanks J16, Sam Seiden, Udine and Jacko
  • #116,217
  • Aug 24, 2012 9:35am Aug 24, 2012 9:35am
Quoting rafstraszek
Well interesting thought In fact, when you build you account (not pulling out money) and always get 4% every month - you should use compound interest...you probably know that - but too other who don't remember from high school...4% a month is sth about 60% a year...5% monthly - 80% a year...and 10% a month...over 200% a year...as they say: "Compound Interest Is Man's Greatest Invention"...just a thought to consider...just imagine...
Yeah I just used annual interest for the ease of calculating in my head...Hopefully I can compound like that
  • #116,218
  • Aug 24, 2012 9:40am Aug 24, 2012 9:40am
Quoting Mishin
Chanya, comment please on a situation after GBPUSD steam.

Attachment
I have my buy orders in based on the upper HCR you marked and the ones on the left of it ... Lets see ...
Human
  • #116,219
  • Aug 24, 2012 9:44am Aug 24, 2012 9:44am
Quoting deltaskelta
Yeah I just used annual interest for the ease of calculating in my head...Hopefully I can compound like that
Yeap - I use calculator for that on my live account - http://www.earnforex.com/position-size-calculator
But mostly because of my live account isn't in usd, but pln. Paying taxes is so much easier this way...If I had a usd account to pay taxes, I had to convert my every trade from usd to pln, using current usd/pln bid price....it would take half of my life...
  • #116,220
  • Aug 24, 2012 9:49am Aug 24, 2012 9:49am
Quoting rafstraszek
Yeap - I use calculator for that on my live account - http://www.earnforex.com/position-size-calculator
But mostly because of my live account isn't in usd, but pln. Paying taxes is so much easier this way...If I had a usd account to pay taxes, I had to convert my every trade from usd to pln, using current usd/pln bid price....it would take half of my life...
What taxes ? Are you talking about income tax to the home country government ??? Or some other ???
Human
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