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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

  • #119,601
  • Oct 9, 2012 8:04am Oct 9, 2012 8:04am
Quoting Winston Reed
What was your "picky" criteria for that long.
I'm not sure i understand this question. Can you ask with other words? My native language is not english, sorry
  • #119,602
  • Oct 9, 2012 8:20am Oct 9, 2012 8:20am
Quoting Mav13
Hi Thierry, Iīm also thinking about joining PF someday, but donīt have visa or mastercard (never really needed them so far). Could you please send me PM when James sends you answer?

Mav
No problem. Still waiting for James.

Edit: Just see mike's post. Paypall would be nice
  • #119,603
  • Oct 9, 2012 8:25am Oct 9, 2012 8:25am
Quoting mbqb11
Hey Dan

It is a great area for a bar setup

I just dont like the close though would have wanted a stronger bearish close. I happen to have caught a nice touch trade at the top just under 1.63 ...

Best
Mike
Hi Mike just reading through your old post above and wondering what trigger your trade at 1.63? Would you elaborate on this trade?

Thanks,
E
  • #119,604
  • Oct 9, 2012 8:29am Oct 9, 2012 8:29am
Quoting Rust
I'm not sure i understand this question. Can you ask with other words? My native language is not english, sorry
guys, you cracked me up...
  • #119,605
  • Oct 9, 2012 8:41am Oct 9, 2012 8:41am
Quoting esbatu
Hi Mike just reading through your old post above and wondering what trigger your trade at 1.63? Would you elaborate on this trade?

Thanks,
E
Hey E

This was a more advanced touch trade that I don't want to expand on too much as it's just going to confuse people.

The basics were in a post I made:

I took a gbp/usd touch trade to the RN of 1.63

why? Well MAJOR swing high. Are we really going to break it on a friday? triple Witching friday especially? Doesn't seem logical to me. Especially fading momentum on the lower timeframes as you showed too. Seemed worth a touch trade to me.

Hope that helps

Mike
  • #119,606
  • Oct 9, 2012 8:41am Oct 9, 2012 8:41am
Quoting Rust
I'm not sure i understand this question. Can you ask with other words? My native language is not english, sorry
Not a big deal. You mention taking a long "for a quick profit" on the AUDUSD after clear bearish signals from which Bullzye and I took a well-thought out short on. Just wondering what criteria you used to enter such a long.

Here's an update on the AUDUSD short which I'm still in.
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  • #119,607
  • Oct 9, 2012 9:02am Oct 9, 2012 9:02am
Quoting Winston Reed
Not a big deal. You mention taking a long "for a quick profit" on the AUDUSD after clear bearish signals from which Bullzye and I took a well-thought out short on. Just wondering what criteria you used to enter such a long.

Here's an update on the AUDUSD short which I'm still in.
I actually think i post it ... let me dig this one .....
...
voila!

http://www.forexfactory.com/showthre...90#post6078490

Here man - it was even referred to your own post

Hope it is more clear now
  • #119,608
  • Oct 9, 2012 9:34am Oct 9, 2012 9:34am
Quoting Rust
I actually think i post it ... let me dig this one .....
...
voila!

http://www.forexfactory.com/showthre...90#post6078490

Here man - it was even referred to your own post

Hope it is more clear now
But.... I tend to think this thread leans towards price action of which I see none in the trade you took. In fact you took a long (a scalp in my book) in the face of overwhelming bearish signals. I can see the lows here are in a demand area and some are quite adept at scalping in these areas. But that is not what this thread is about....I think. I am aware that there could be a reversal in this demand area but as yet there has been no clear price action to suggest a reversal is occurring or will occur (although on H4 time frame there was some bullish price action). So I was little annoyed at the criticism directed towards my trade as compared to the scalping nature of your trade. But that's just me. Again no big deal.
  • #119,609
  • Oct 9, 2012 9:45am Oct 9, 2012 9:45am
posted this setup in the PF but thought I would post it here aswel to get some other reponses from people also trading Jarroo's method:

AU failed trade. I was waiting and had these levels marked out for a while now. PBT&CB took short entry, got stopped out. Price failes to close above confirming DCC .. took a short entry on the close .. got stopped out again. This LCS level looked like a very deep swing to me with plenty of space below, what happened here ? Is there something im missing entirely that is resulting in so many good looking setups fail. Really get stressed out about this now. Charts below. Jarroo, could I get your thouts and opinion on this please

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  • #119,610
  • Oct 9, 2012 10:01am Oct 9, 2012 10:01am
Quoting Winston Reed
But.... I tend to think this thread leans towards price action of which I see none in the trade you took. In fact you took a long (a scalp in my book) in the face of overwhelming bearish signals. I can see the lows here are in a demand area and some are quite adept at scalping in these areas. But that is not what this thread is about....I think. I am aware that there could be a reversal in this demand area but as yet there has been no clear price action to suggest a reversal is occurring or will occur (although on H4 time frame there was some...
Hey Winston, sir ,
absolutely no criticism on your trade! Sorry if i was misunderstood. I wish you some positive pips, as my entry already fulfilled what was meant to. I can be nothing but happy if you manage to make some profit, too
If my charts i post from time to time are not your cup of tea, just ignore em! Bottom line, it is up to the person to find what he is comfortable with.

P.S. Don't let such little things annoy you. Your health is far more important! cheers
  • #119,611
  • Oct 9, 2012 10:06am Oct 9, 2012 10:06am
Whats your opinion of that one guys.
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If not up, then down, otherwise sideways :-)
  • #119,612
  • Oct 9, 2012 10:16am Oct 9, 2012 10:16am
Quoting Magestic
Whats your opinion of that one guys.
A bit scary as if you scroll back, you will see this pair to make HUGE moves without taking a breath. And this was one. It's a good idea to look for price action (breaching swings and close above/below is nothing else than price action) at PPZs or at least with nice divergence. Then it's a killer
  • #119,613
  • Oct 9, 2012 10:17am Oct 9, 2012 10:17am
Quoting dan89
posted this setup in the PF but thought I would post it here aswel to get some other reponses from people also trading Jarroo's method:

AU failed trade. I was waiting and had these levels marked out for a while now. PBT&CB took short entry, got stopped out. Price failes to close above confirming DCC .. took a short entry on the close .. got stopped out again. This LCS level looked like a very deep swing to me with plenty of space below, what happened here ? Is there something im missing entirely that is resulting in so many good looking...
Hi Dan,

I couldn't see what Ghous explained so don't take it personally...

Have a look at Ghous' post: http://www.forexfactory.com/showthre...98#post6079798

We (well, I, and as far as I understood, Winston too) have seen a PBTCB together with a BEOB that would suggest a breakout of D1 LCS.

What we have been missing is what Ghous and Rust pointed: the low of the bar that closed below is lower than the low of the bar that formed the LCS, AND the close of the OB of the BEOB is above the low of the bar that formed the LCS.

This suggested Ghous that what was occuring was NOT a break out but a fake out.
A real break out would have required that either the low of the bar that CB is not lower than the LCS one or that the BEOB closes stronger, below the low of the LCS bar (in this option, we might haven't had any retrace to test the LCS...). These two not being exclusive...

You can have a look at Ghous blog, he explains this extensively

This is the way I see it.

Then again, better analyse this failed trade and learn from my mistakes!
Slow & steady
  • #119,614
  • Oct 9, 2012 10:32am Oct 9, 2012 10:32am
Is there a possible setup developing on eurgbp? looks like it could retrace to 0.8.
Would you call this a 3 bar pin?
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  • #119,615
  • Oct 9, 2012 10:40am Oct 9, 2012 10:40am
Also could we now trade audjpy short as it has now closed under the BRN.
Looks like we had a retest today and a possible continuation pin.
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  • #119,616
  • Oct 9, 2012 11:02am Oct 9, 2012 11:02am
Quoting erublycuris
Is there a possible setup developing on eurgbp? looks like it could retrace to 0.8.
Would you call this a 3 bar pin?
I'd call that a forming BEOB. Keep it simple.
  • #119,617
  • Oct 9, 2012 12:57pm Oct 9, 2012 12:57pm
Quoting goldfish3
So here's my first attempt to contribute after a long time.

First trade for the month.

Best,
-H
Hi Guys,

Heres my take. I was in this trade on the way down but exited when I did (see quoted post) because theres alot of traffic after that. The circled areas are not just Jaroo's trouble areas or Mike's traffic zones but are also valid demand levels (see LTF's) (even though used up previously but they could very well have some more bounce left in them. Even if not, i imagine the ride down from here would be quite rough for a while if it were to continue. That reason and that the close was not strong enough was why I did not renter. But even if I did the safest SL placement for me would be above the nearest FTA. So even if todays candle closes above LCS, i would exit for a minute loss and consider taking a bounce up.

So no, according to me not an A+ setup at all.

Hope this helps a bit.

Best,
H
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  • #119,618
  • Oct 9, 2012 1:09pm Oct 9, 2012 1:09pm
trade idea
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all is eternal - this is good news for people who loves bad news
  • #119,619
  • Oct 9, 2012 2:06pm Oct 9, 2012 2:06pm
Quoting Winston Reed
Not a big deal. You mention taking a long "for a quick profit" on the AUDUSD after clear bearish signals from which Bullzye and I took a well-thought out short on. Just wondering what criteria you used to enter such a long.

Here's an update on the AUDUSD short which I'm still in.
My 2c
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  • #119,620
  • Oct 9, 2012 2:30pm Oct 9, 2012 2:30pm
I also spotted and liked the setup. but the 0.8000 level is an obstacle to reach the target.

Might work out but risky nevertheless. Better to wait for a trade without obstacles.

Quoting meshka
trade idea
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