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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

  • #119,561
  • Oct 8, 2012 11:19am Oct 8, 2012 11:19am
Quoting Rust
Bulls eye !
All he have to do now is to be patient and wait for that opportunity in the bushes
OK, I'll try not to obliterate it with my machine gun in the mean time!
  • #119,562
  • Oct 8, 2012 11:32am Oct 8, 2012 11:32am
Quoting Thierry
Why is it so difficult to make some money.
See this chart, it looks so dirt simple. Just PA bars with some space and some knowlege of where will price likely to stall first.

But i still can't make money.
Maybe it is similar to skiing. You gotta do the opposite that your instincts tell you (Or tell your girlfriend to secretly take the opposite trades of yours haha .... just kidding)

I can't ski by the way
  • #119,563
  • Oct 8, 2012 11:35am Oct 8, 2012 11:35am
Quoting Thierry
Why is it so difficult to make some money.
See this chart, it looks so dirt simple. Just PA bars with some space and some knowlege of where will price likely to stall first.

But i still can't make money.
Evrything looks dirt simple in hindsight..
  • #119,564
  • Oct 8, 2012 11:43am Oct 8, 2012 11:43am
Quoting Thierry
Why is it so difficult to make some money.
See this chart, it looks so dirt simple. Just PA bars with some space and some knowlege of where will price likely to stall first.

But i still can't make money.

Will this chart show you anything different from yours?
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I want to buy PATIENCE
  • #119,565
  • Oct 8, 2012 11:43am Oct 8, 2012 11:43am
Quoting dan89
Evrything looks dirt simple in hindsight..
It is. But if you look on every chart, every pair, every timeframe, it doesn't matter. These bars are powerfull and reach most of the time simple the FTA. How difficult can it be, just buy at the break of the bar and do something at FTA (close postion, stop to be, etc..)
  • #119,566
  • Oct 8, 2012 11:46am Oct 8, 2012 11:46am
Quoting matheszabi
Will this chart show you anything different from yours?
Attachment

Just take a pair and just begin somewhere Mine is from 2011 i see.
  • #119,567
  • Oct 8, 2012 11:48am Oct 8, 2012 11:48am
Quoting matheszabi
Will this chart show you anything different from yours?
Attachment
Don't forget that every broker has a different feed.
  • #119,568
  • Oct 8, 2012 11:48am Oct 8, 2012 11:48am
Quoting Thierry
These bars are powerfull and reach most of the time simple the FTA. How difficult can it be, just buy at the break of the bar and do something at FTA (close postion, stop to be, etc..)
Are you doing this already? Is your money management consistent?
  • #119,569
  • Oct 8, 2012 12:16pm Oct 8, 2012 12:16pm
Quoting Thierry
Just take a pair and just begin somewhere Mine is from 2011 i see.
and from previous post: "Why is it so difficult to make some money."

There should be the answer:
in the difference of those 2 charts with same currency pair, same timeframe.

If you take the 30 last daily candles you should able to make some money , relative easy.

LL, LH, LL, LH, double top, LL. What is the next? - a "Don't know" ?
I want to buy PATIENCE
  • #119,570
  • Oct 8, 2012 12:21pm Oct 8, 2012 12:21pm
Quoting fxprocessor
Are you doing this already? Is your money management consistent?
I will do this on demo for awile, trying to keep it simple
  • #119,571
  • Oct 8, 2012 12:23pm Oct 8, 2012 12:23pm
Quoting matheszabi
and from previous post: "Why is it so difficult to make some money."

There should be the answer:
in the difference of those 2 charts with same currency pair, same timeframe.

If you take the 30 last daily candles you should able to make some money , relative easy.

LL, LH, LL, LH, double top, LL. What is the next? - a "Don't know" ?
Maybe i miss your point, but i show on my chart where the trades were.
  • #119,572
  • Oct 8, 2012 12:24pm Oct 8, 2012 12:24pm
Quoting Thierry
Maybe i miss your point, but i show on my chart where the trades were.
Thanks not need your trades
I want to buy PATIENCE
  • #119,573
  • Oct 8, 2012 12:36pm Oct 8, 2012 12:36pm
I sold on a retrace to the red daily line. It has gone through this and retraced 61.8% of the previous daily candle which was a DBHLC/BEOB. Not fun taking this kind of heat but you have to have faith in your method. Anyway we'll see how it goes.
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  • #119,574
  • Oct 8, 2012 12:42pm Oct 8, 2012 12:42pm
Quoting matheszabi
Thanks not need your trades
I really have no idea which point you want to make. I just want to show that i struggle with trading, but when i backtest it looks so simple.
  • #119,575
  • Oct 8, 2012 12:50pm Oct 8, 2012 12:50pm
Hi!

There is a BEOB with div. and, TL

If price pull back to 1.5800, it will be an opportunity to short.

FTA1: 1.5700
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  • #119,576
  • Oct 8, 2012 12:53pm Oct 8, 2012 12:53pm
this DHLC on GBPAUD is interesting,
the bullish bar is a lot bigger than the last couple of bars, the highest point of both bars is pretty much a pivot point going as far back as 2010.
The idea would be to short it with an expectation to stall just near the 365.

the problem in the way of this is the BRN. is it best to wait for a close below the 1.5700 level and then enter?

any help greatly appreciated

Hilton

the other thing is the fundamentals with both pairs. Aud isslowing in the mining sector and the rescent announcment by the RBA plus the pound is sensitive to BOE Governor appointmnet
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Thank you J16 & Trader Dante
  • #119,577
  • Oct 8, 2012 12:57pm Oct 8, 2012 12:57pm
Quoting Winston Reed
I sold on a retrace to the red daily line. It has gone through this and retraced 61.8% of the previous daily candle which was a DBHLC/BEOB. Not fun taking this kind of heat but you have to have faith in your method. Anyway we'll see how it goes.

same here.
"remember we want BEOB at swing high, this is a swing low" would say Mike.
I was playing this as a continuation setup together with PBTCB. H1/H4 signatures were ok before they were invalidated.... Stupid to say that, isn't it? I was right until proven I was wrong...
Anyway, once again I failed while not following my own rules: wait for DCC. Damn... Why is it so hard to listen to oneself?
Slow & steady
  • #119,578
  • Oct 8, 2012 1:13pm Oct 8, 2012 1:13pm
Quoting Thierry
I will do this on demo for awile, trying to keep it simple

Sounds like a good idea
  • #119,579
  • Oct 8, 2012 1:20pm Oct 8, 2012 1:20pm
Quoting chartergas
this DHLC on GBPAUD is interesting,
the bullish bar is a lot bigger than the last couple of bars, the highest point of both bars is pretty much a pivot point going as far back as 2010.
The idea would be to short it with an expectation to stall just near the 365.

the problem in the way of this is the BRN. is it best to wait for a close below the 1.5700 level and then enter?

any help greatly appreciated

Hilton

the other thing is the fundamentals with both pairs. Aud isslowing in the mining sector and the rescent announcment by the...
Do you think the GBPAUD 1.5700 level is important or the GBPUSD 1.6000 level and AUDUSD 1.0170 area support? Just food for thought as you mentioned this BRN.
  • #119,580
  • Oct 8, 2012 1:26pm Oct 8, 2012 1:26pm
Quoting chartergas
this DHLC on GBPAUD is interesting,
the bullish bar is a lot bigger than the last couple of bars, the highest point of both bars is pretty much a pivot point going as far back as 2010.
The idea would be to short it with an expectation to stall just near the 365.

the problem in the way of this is the BRN. is it best to wait for a close below the 1.5700 level and then enter?

any help greatly appreciated

Hilton

the other thing is the fundamentals with both pairs. Aud isslowing in the mining sector and the rescent announcment by the...
Hey C

This is more along the lines of what I was getting at in my last post. Look for those stand out bars.

The cons here are really the overall lack of confluence. The plus is the size of the bar and where price is going. I put some notes on a chart for you on how my chart would look. It's all about putting the pieces together. Also the BRNs as I use them are every 500 pips so the 5700 is simple a large round number. If anything you can use that area for trade mgmt if you still feel this bar is worth trading. I'd rather watch that rising TL and bar highs if that can break and see if that can hold as a flip area. This could very well be the bar that triggers that. So we could see if price breaks and can break through the TL. If the TL holds you get to b/e or cut out for a small loss. Also very valid plays here

Best
Mike
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