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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

  • #118,341
  • Sep 13, 2012 12:47pm Sep 13, 2012 12:47pm
Quoting C-12
I had this level marked off but didn't take it. What broker is this?
Nice brother ... This kind of stuff is hard to come by ... But when it does shows up , its worth it ...
Human
  • #118,342
  • Sep 13, 2012 12:50pm Sep 13, 2012 12:50pm
Quoting annu333
I wrote the LCR & HCR what I thought where solid R & S. Right now it already broke my HCR. Hope it stays like this.
Or how to you see this?


I use Pepperstone. The EUR/USD also went to 1.28148 (others said here that their was 1.2816)

Its great man ... You posted the hourly chart so I did not understood at first ...

But how did you keep your stop loss that way so small ???
Human
  • #118,343
  • Sep 13, 2012 12:52pm Sep 13, 2012 12:52pm
All hale to Jarroo
  • #118,344
  • Sep 13, 2012 12:57pm Sep 13, 2012 12:57pm
Quoting Magestic
For whose people who likes Mike's style, I'll just give my 2 cents. I follow his trade mngmnt style for about 9 months now.I can say that when it starts to make sence for you, It really awesome. This suits personally to me, but there is no guarantee that it will suits you. What I want to share is that I'm in forex for 1.5 years now. And what was really annoynig lately that I chose the direction of the move right, but my tiny SL was hit 90% of the times befor big move in my direction. When I started J16 method I moved my SL to BE as fast as possible,...
here is my usd/mxn trade ended up with a 1/3 bar loss. Timing not right move stop under the bounce at TL and price doesn't follow through I'm out. Keep myself in the game
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  • #118,345
  • Sep 13, 2012 12:58pm Sep 13, 2012 12:58pm
Quoting annu333
If I hadn't found this thread, I would be one who is hanging right now.

Thanks to you guys my trades now look like this
nice trade!! 3.3 pip stop loss that's a runner alright

Mike
  • #118,346
  • Sep 13, 2012 1:00pm Sep 13, 2012 1:00pm
Quoting tradewiser
Hi Mike,

Can you please explain your thought process when you look at a new chart? Is there a mental checklist you go through?

Sorry if this question has been asked before.

Thanks
Walid
Hey Walid

I am basically looking for things that jump out at me. Patterns, key levels, round numbers, Price action bars. Then i try to develop a story through those concepts. The concepts can very from breakout trades, to continuations to reversals. I am basically looking to stack confluence in my favor and find key areas for trades. Then I work through my best course of trade mgmt.

I admit I don't have any kind of checklist at this point since I have had a lot of chart time and just let my experience play the role. When starting out look for the very very obvious Even if that's as simple as a big pinbar , outside bar at clear swing highs.

Hope that helps
Mike
  • #118,347
  • Sep 13, 2012 1:10pm Sep 13, 2012 1:10pm
Quoting Chanya
Its great man ... You posted the hourly chart so I did not understood at first ...

But how did you keep your stop loss that way so small ???
This looks like a white lie to me..With 3 pip SL,and a 2pip spread on AUDUSD, you have 1pip margin for error. Most likely he had a bigger SL then moved it up to 3pips for God knows what reasons....
I don't need easy. I just need possible.
  • #118,348
  • Sep 13, 2012 1:12pm Sep 13, 2012 1:12pm
Hello guys.Currently watchind UsdNok for short. Daily trendline breakout. Bearrish divergence and expecting bearrish engulfing pattern.
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  • #118,349
  • Sep 13, 2012 1:13pm Sep 13, 2012 1:13pm
Took full profit of EUR USD Buy trade .... at 1.2984 ... BRN ahead + Major PPZ

I know we yet have a gap to close above but , I don't care ... I will enter again if the opportunity is presented again ...
Human
  • #118,350
  • Sep 13, 2012 1:15pm Sep 13, 2012 1:15pm
Quoting DaGrizlyBull
This looks like a white lie to me..With 3 pip SL,and a 2pip spread on AUDUSD, you have 1pip margin for error. Most likely he had a bigger SL then moved it up to 3pips for God knows what reasons....
Why would someone lie ??? We should not be judgmental ... If he had used SND zone like C-12 pointed out , then 3-5 pips stop loss would make sense a little ... No offense brother ... Just saying ....

But of course this kind of stuff is usually once in months ...
Human
  • #118,351
  • Sep 13, 2012 1:20pm Sep 13, 2012 1:20pm
If we get a reasonable close below the black line , this will probably be a good one ... Yellow zone as FTA
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Human
  • #118,352
  • Sep 13, 2012 1:25pm Sep 13, 2012 1:25pm
Looking good...
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Fall seven times, stand up Eight! #GGMU
  • #118,353
  • Sep 13, 2012 2:03pm Sep 13, 2012 2:03pm
Quoting DaGrizlyBull
This looks like a white lie to me..With 3 pip SL,and a 2pip spread on AUDUSD, you have 1pip margin for error. Most likely he had a bigger SL then moved it up to 3pips for God knows what reasons....
2 PIP spread ... good one... Spread is 0.1-0.7 PIPs

And what good should I get from lieing to you. When the pike was then there was only 1.5 pips to my SL. And actually its a free country/forum everybody can believe what they want (sorry for grammar)
  • #118,354
  • Sep 13, 2012 2:05pm Sep 13, 2012 2:05pm
Quoting annu333
2 PIP spread ... good one... Spread is 0.1-0.7 PIPs

And what good should I get from lieing to you. When the pike was then there was only 1.5 pips to my SL. And actually its a free country/forum everybody can believe what they want (sorry for grammar)
Ok bro. Not trying to start a controversy , but anyone else has 0.1-0.7 pips spread on AUDUSD? Cause if so, I'm getting robbed by my broker
I don't need easy. I just need possible.
  • #118,355
  • Sep 13, 2012 2:10pm Sep 13, 2012 2:10pm
Quoting Chanya
Took full profit of EUR USD Buy trade .... at 1.2984 ... BRN ahead + Major PPZ

I know we yet have a gap to close above but , I don't care ... I will enter again if the opportunity is presented again ...
I was a bit late, but still a good trade.
  • #118,356
  • Sep 13, 2012 2:11pm Sep 13, 2012 2:11pm
Do you have somekind on Spread EA?

I moved the AUD/USD SL to below the last 1H candle, if it hits it already a good trade if not good as well.
  • #118,357
  • Sep 13, 2012 2:13pm Sep 13, 2012 2:13pm
Quoting bullzeye
SIVER

oh man, what a crazy bar ... i will try to play a break down of this BEOB

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GOLD

another freaky bar

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  • #118,358
  • Sep 13, 2012 2:20pm Sep 13, 2012 2:20pm
Quoting Chanya
Took full profit of EUR USD Buy trade .... at 1.2984 ... BRN ahead + Major PPZ

I know we yet have a gap to close above but , I don't care ... I will enter again if the opportunity is presented again ...
Got kicked out because of a SL moved to be too soon...
that was a nice one
Slow & steady
  • #118,359
  • Sep 13, 2012 2:21pm Sep 13, 2012 2:21pm
Quoting bullzeye


weekly looks even better...

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GBP/AUD

i do not want much, just a few of such pins in month

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  • #118,360
  • Sep 13, 2012 2:24pm Sep 13, 2012 2:24pm
Quoting Chanya
Took full profit of EUR USD Buy trade .... at 1.2984 ... BRN ahead + Major PPZ

I know we yet have a gap to close above but , I don't care ... I will enter again if the opportunity is presented again ...
well done bro
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