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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

  • #119,341
  • Oct 2, 2012 3:39am Oct 2, 2012 3:39am
Quoting sg_1988
Haha that would be sweet! Lets hope it happens

Kind Regards
Sanil
there is no place for hope in forex
  • #119,342
  • Oct 2, 2012 3:56am Oct 2, 2012 3:56am
Quoting bullzeye
there is no place for hope in forex
I disagree, there is no problem in hoping a bar turns into a PA bar as, it is not a trade.
Totally agree that hope has no place in trading, after you pull the trigger.
As Nietzsche said, "Hope is a comfortable acquaintance but, a dangerous ally".
  • #119,343
  • Oct 2, 2012 4:19am Oct 2, 2012 4:19am
So here's my first attempt to contribute after a long time.

First trade for the month.

Best,
-H
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  • #119,344
  • Oct 2, 2012 8:01am Oct 2, 2012 8:01am
Quoting patapouer
EUR GBP:
BUOB off D HCR (and previous, old D LCS that should not be taken into account...), pass through weekly PPZ + RN 0.797, closes above ascending TL .

What guys do you think?

have a nice day,
Hey P

I would be cautious of trading back into the BRN. Would have been nice if the BUOB had a low that was lower then the previous minor swing low and a close above .8000 BRN

Best
Mike
  • #119,345
  • Oct 2, 2012 8:12am Oct 2, 2012 8:12am
Quoting sg_1988
Sorry off topic, Anyone have dreams (well more like nightmares) that their trade has been stopped out, but when you wake up, its all okay

That happened to me again this morning...felt so real

Guess it could have been worse in the nightmare, I got stopped out for a 3% loss, I thought that it would have jumped my stop and and carried on going against me, ha!

Kind Regards
Sanil
I used to have crazy trading dreams. But I dream like crazy, I am not a good sleeper LOL

Mike
  • #119,346
  • Oct 2, 2012 8:13am Oct 2, 2012 8:13am
Quoting Rust
Good words Winston! And very true!
Money and trade management are HUGE part!
That's why it is very important to keep a record on your past trades and use this experience to find where to optimize.
Human nature tend us to do what's feeling good and not what is logical and profitable

Cheers on that 30%/year!
Sure is, easy first step to getting your trading in check

Ditto on the congrats Winston

Best
Mike
  • #119,347
  • Oct 2, 2012 8:45am Oct 2, 2012 8:45am
Quoting mbqb11
Hey P

I would be cautious of trading back into the BRN. Would have been nice if the BUOB had a low that was lower then the previous minor swing low and a close above .8000 BRN

Best
Mike
Thanks Mike,

I always lack a piece of the puzzle...

Will keep my SL tight!
Slow & steady
  • #119,348
  • Oct 2, 2012 9:35am Oct 2, 2012 9:35am
Hey guys
Interesting triangle pattern forming on 1 hr GBP/USD. I'm already short, so I'm waiting breakout down
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  • #119,349
  • Oct 2, 2012 9:41am Oct 2, 2012 9:41am
Quoting leximus
Hey guys
Interesting triangle pattern forming on 1 hr GBP/USD. I'm already short, so I'm waiting breakout down
This chart looks exactly like the monthly chart. How uncanny. However at the moment I am bullish - a bit - on the gbpusd

olu
If you think you can or cannot do it you are correct
  • #119,350
  • Oct 2, 2012 9:59am Oct 2, 2012 9:59am
Quoting mbqb11
Hey E

For me each situation is unique and what I might do with my FTA. I try to determine both the importance of the FTA in relationship to my overall setup. Mike

Hi Mike thanks for your explanation. Just amaze me how you are always ready to answer every single question. Thanks a lot
  • #119,351
  • Oct 2, 2012 10:29am Oct 2, 2012 10:29am
Hey Jaroo,

I was wondering if you agree with these Trouble Areas/SL trail Areas from Chanya's PDF about the PBT.

Thanks!

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I don't need easy. I just need possible.
  • #119,352
  • Oct 2, 2012 10:51am Oct 2, 2012 10:51am
Quoting leximus
Hey guys
Interesting triangle pattern forming on 1 hr GBP/USD. I'm already short, so I'm waiting breakout down
Now I think you know why it's not a good offer to enter before the break
  • #119,353
  • Oct 2, 2012 12:17pm Oct 2, 2012 12:17pm
Quoting jarroo
Yes . .

Now I gotta go . .
Hi Jarroo,

You confirmed that once an HCR/LCS level is tested, its not valid anymore. Do you delete the level??

Like the nzd usd here, would you say this HCR level is not valid anymore to make an decission for a trade in the future?

Looking forward to your webinar, still truggeling with this stuff.
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  • #119,354
  • Edited 9:17pm Oct 2, 2012 8:51pm | Edited 9:17pm
We have a daily signature.
Let's see if it can turn price around.
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  • #119,355
  • Oct 2, 2012 9:33pm Oct 2, 2012 9:33pm
Hi Thierry,
The Jaroo Level is still a valid level...it just now needs some space before Price gets back to it.

Quoting Thierry
You confirmed that once an HCR/LCS level is tested, its not valid anymore. Do you delete the level??
Don't delete the level...you may just want to put it onto a different timeframe on your chart and then turn that visual off.

Here is an EJ ICCE chart. I tend to mix-n-match Bemac/Aiden Icce charts with my Jaroo levels. It's all the same thing...just different ways of looking at Support and Resistance.

EJ has PBT&CA the ICCE Top level (also nicely enough a Jaroo Daily Level)...and now waiting to see if PA will come back to it...before continuing on in the rally.

Best,

Eric.
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" Be always employed in something useful." - Benjamin Franklin
  • #119,356
  • Oct 3, 2012 12:09am Oct 3, 2012 12:09am
AUD/NZD did not come back.
So, let's see what this monthly and daily level on AUD/USD can do.
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  • #119,357
  • Oct 3, 2012 1:09am Oct 3, 2012 1:09am
Quoting cougar73
Hi Thierry,
The Jaroo Level is still a valid level...it just now needs some space before Price gets back to it.



Don't delete the level...you may just want to put it onto a different timeframe on your chart and then turn that visual off.

Here is an EJ ICCE chart. I tend to mix-n-match Bemac/Aiden Icce charts with my Jaroo levels. It's all the same thing...just different ways of looking at Support and Resistance.

EJ has PBT&CA the ICCE Top level (also nicely enough a Jaroo Daily Level)...and now waiting to see if PA will come back to it...before...
Thanks for your view
But also want to hear what Jarroo think about it. I ve did a little backtest and saw that tested levels were less more reactive than fresh levels.
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  • #119,358
  • Oct 3, 2012 2:56am Oct 3, 2012 2:56am
Hi guys,

I got a question regarding Buy/Sell limit orders.

Basically, you put these orders when anticipating a retest of a S/R, HCR/LCS, etc.

For example, I put a Buy limit order on GBPAUD after PBTCA daily HCR at 1.56 RN, thinking price would retest the RN before moving up.
Well, obviously, price didn't, and moved up to the 1st and now 2nd trouble areas boxed in the chart.

How do you deal with that?
I know that, as one said earlier, better safe than sorry (something like I'd better not be in a trade I wish I would than being in a trade I wish I wouldn't...)

Still, are there some circumstances in which you don't use limit orders? or should I have look at the H4 chart PBTCA to enter the trade? (I'd better stick to the D1 though).
Looking at this specific trade, I can see there is no H1 close below the HCR. Can this be an evidence for entering the trade on daily close, without waiting for retest (DCC)?

Thanks for your help!
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Slow & steady
  • #119,359
  • Oct 3, 2012 3:07am Oct 3, 2012 3:07am
chart
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all is eternal - this is good news for people who loves bad news
  • #119,360
  • Oct 3, 2012 3:19am Oct 3, 2012 3:19am
Quoting meshka
chart
I have to admit I sometimes steel setups to watch from you guys
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