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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

  • #119,681
  • Oct 12, 2012 11:07am Oct 12, 2012 11:07am
Quoting giggles
Newbie here.

Chanya, Thanks for the pdf that explains Jarroo methodology.
I was thinking instead of waiting for retest at HCS/LCR, why not put entry above/below the bar that makes the price break through. In a strong trend, the price might not come for a retest and in the end we may miss a good move.
Price nearly always comeback for a retest friend ! soon or later depend on time frame especially on strong moves with the gaps comeback close the gab then go the other way ..

Just observe for a while .... J s method s got a lot of merit just need time to hit your straps !

Regards and best of luck

V
  • #119,682
  • Oct 12, 2012 11:09am Oct 12, 2012 11:09am
Quoting Hiten123
Hey Mike, just for educational purposes, suppose you entered this one at the break of the pinbar. How would you personally manage this at the first trouble area you mentioned? Move stops to b/e? take one half off the table?
Hey Hiten

Being it is friday and that there isn't the strongest of stories with space running out. I like taking full profits here personally. I think it's a nice looking trade for that. Sometimes we are afraid to take profits

Best
Mike
  • #119,683
  • Oct 12, 2012 11:10am Oct 12, 2012 11:10am
Quoting giggles
Newbie here.

Chanya, Thanks for the pdf that explains Jarroo methodology.
I was thinking instead of waiting for retest at HCS/LCR, why not put entry above/below the bar that makes the price break through. In a strong trend, the price might not come for a retest and in the end we may miss a good move.
Hey gig, one of the biggest problems newbies face, and we've all been there, is trading too much. You're always going to miss good moves, but that's a far better scenario than entering a poor trade.

Focus on patience and taking the best setups, and you'll be ahead of most traders.
  • #119,684
  • Oct 12, 2012 11:27am Oct 12, 2012 11:27am
Quoting mbqb11
Hey Hiten

Being it is friday and that there isn't the strongest of stories with space running out. I like taking full profits here personally. I think it's a nice looking trade for that. Sometimes we are afraid to take profits

Best
Mike

cheers
  • #119,685
  • Oct 12, 2012 12:28pm Oct 12, 2012 12:28pm
thank you Chanya for the pdf with Jarroo's methodology!
  • #119,686
  • Oct 12, 2012 1:38pm Oct 12, 2012 1:38pm
GBP/CHF

weekly and daily support
daily pin bar
  • #119,687
  • Oct 12, 2012 2:36pm Oct 12, 2012 2:36pm
Quoting bullzeye
AUD/CAD

watch out for that one :nerd:

Attachment
AUD/CAD

Pinocchio tells you here a nice story

Attached Image (click to enlarge)
Click to Enlarge Name: audcad.gif Size: 37 KB
  • #119,688
  • Oct 12, 2012 2:46pm Oct 12, 2012 2:46pm
EUR/AUD

the power of S/R ...the ultimate way to trade!

Attached Image (click to enlarge)
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  • #119,689
  • Oct 12, 2012 2:46pm Oct 12, 2012 2:46pm
Quoting mbqb11
Very good use of confluence Iuliuu

Notice we are where space runs out now so price can start bouncing here


Best
Mike
Thank you very much,Mike!Have a nice weekend!
  • #119,690
  • Oct 12, 2012 3:09pm Oct 12, 2012 3:09pm
Quoting bullzeye
EUR/AUD

the power of S/R ...the ultimate way to trade!

Attachment
Getting better
And sorry to correct you, but this is the power of confluence
  • #119,691
  • Oct 12, 2012 3:29pm Oct 12, 2012 3:29pm
Quoting Rust
Getting better
And sorry to correct you, but this is the power of confluence
  • #119,692
  • Oct 12, 2012 7:55pm Oct 12, 2012 7:55pm
Quoting bullzeye
never stop learning guys :nerd:

here an article from Nial Fuller: "20 Ways To Improve Your Trading"...take your time to read this stuff, i find it amazing

http://www.learntotradethemarket.com...e-your-trading
Thanx bullzeye! Very good read!
The Eyes Believe What They See And The Ears Believe What Others Say.
  • #119,693
  • Oct 13, 2012 12:42am Oct 13, 2012 12:42am
Hello all. I'd like to introduce myself, since I am new to this thread.

I've dabbled with FX demo accounts on and off for about 5 yrs, and I currently trade a demo account. I began long ago by looking for an EA that would do all of the work for me - I thought I could make tonnes of money just by attaching a script to my chart. I had good results with some of the EAs that I tested, but something just didn't feel right. I dug deeper and I began to understand drawdown, margin, and risk. I then realized that I would have imploded my account sooner or later if I had kept using the EAs. Maybe I am lucky that I have never risked my own money in the market. I quit the scene for about 2 yrs. I came back to it about 2 weeks ago. I was looking for something simple and instinctive method for trading FX.

I discovered this thread a few days ago after poring over the 4H MACD thread, and researching Nial Fuller. I am amazed at the level of information available on this website on price action, and I'm excited to finally get serious about FX trading. PA seems to be a good long term path to get me there.

I look forward to reading your observations, ideas, and emotions!

One thing I learned which is already becoming more concrete is that not entering a trade that could have been profitable is not a loss! A loss is entering a trade that loses money.

Happy pips!

Sciurus
  • #119,694
  • Edited 7:53am Oct 13, 2012 6:02am | Edited 7:53am
Jaroo,

In your experience, which approach is more profitable if I enter the PBT setups using a touch trade?

1) Wait for the Bar (whatever TF the setup is on) to close and notice where it closed regarding to the level ( Idea confirmed or invalidated)

2) Use a smaller TF "signature" (by signature I understand a smaller TF bar that closes the wrong way that you expect it to) to exit ( Invalidates your higher TF PBT idea) and taking an insignificant loss.

I personally like the 1st one since it makes more sense and it lets the story pan out, and i consider smaller TF to be susceptible to noise/wicks, etc.

For example, last week on EURNZD we had a PBT CA of a swing HCR on the WEEKLY timeframe. So I'm guessing, a smaller TF signature would be a Daily Close Below the level , which would invalidate the idea of RES -> SUPP. (Same as a Daily PBT with a H1 close the wrong way)

Here are 2 pics with what i mean if it still isn't clear:

Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd weekly.jpg Size: 83 KB


Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd daily.jpg Size: 90 KB


And another case with the Daily + H1 Combo on GBPUSD:

Attached Image (click to enlarge)
Click to Enlarge Name: cable daily.jpg Size: 78 KB


Attached Image (click to enlarge)
Click to Enlarge Name: cable h1.jpg Size: 92 KB


Really appreciate it!
I don't need easy. I just need possible.
  • #119,695
  • Oct 13, 2012 11:11am Oct 13, 2012 11:11am
only problem is its only 26 pips off 1.000, i would have thought waiting for it to go down the support level and waiting for price action for a return or to break through.

whats your take on it mate?


Quoting bullzeye
AUD/CAD

Pinocchio tells you here a nice story

Attachment
Thank you J16 & Trader Dante
  • #119,696
  • Oct 13, 2012 11:31am Oct 13, 2012 11:31am
  •  sg_1988
  • | Joined Dec 2011 | Status: Cause I'm P*ssed Off For Greatness | 70 Posts
Here's another stock I will paper trade - XOM weekly

Break of the BEOB looking for a push to 88.00 level

Lets see what happens

Kind Regards
Sanil
Attached Image (click to enlarge)
Click to Enlarge Name: XOMweekly.png Size: 83 KB
  • #119,697
  • Oct 13, 2012 12:04pm Oct 13, 2012 12:04pm
This is a little off topic, but is it possible to post charts in private messages, or is that function disabled?
  • #119,698
  • Oct 13, 2012 12:06pm Oct 13, 2012 12:06pm
Quoting Barefoot
This is a little off topic, but is it possible to post charts in private messages, or is that function disabled?
Use a site like imageshack for uploading your photos and post the link(s) in the PM, or image via URL (it works like this).
I don't need easy. I just need possible.
  • #119,699
  • Oct 13, 2012 12:10pm Oct 13, 2012 12:10pm
Quoting DaGrizlyBull
Use a site like imageshack for uploading your photos and post the link(s) in the PM, or image via URL (it works like this).
Thanks Griz
  • #119,700
  • Oct 13, 2012 2:55pm Oct 13, 2012 2:55pm
Hi all

hi
i cant download Chanyas file here on this site for some reason,would somebody be so kind as to email me that pdf that chanya so kindly prepared, my email address is [email protected]

many thanks,
brian
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