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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

  • #119,701
  • Oct 14, 2012 1:09am Oct 14, 2012 1:09am
german bdt on weekly.
despite a negative week on german fdax, bdt is showing relativ strength.
a break through the 62.50 euro will be a trigger for longs.
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meine augen sind die sterne
  • #119,702
  • Oct 14, 2012 4:30am Oct 14, 2012 4:30am
german jen (jenoptik).
there is a monthly resistance at 6.65 euro, too.
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meine augen sind die sterne
  • #119,703
  • Oct 14, 2012 6:00am Oct 14, 2012 6:00am
sorry guys if this is a repetitive question. i would just like to know how does james16 place his entry and exit points for different price action such as the pin bar, dbhlc, inside bar, dblhc etc. thank you!
  • #119,704
  • Oct 14, 2012 7:50am Oct 14, 2012 7:50am
Aretas,
Excekkent question! This is something I have struggled with.

James, How do you enter:

Completion of the bar which confirms that it one of the bar types which you mention i.e pin bar etc. What if the close of the bar is at a temporary resitance or support on a short time frame chart.. do U still enter at closing price or do you wait for a pullback and enter only if the pullback fails by a closing candle which closes below its mid point? or do u wait for another candle which closes below the close of the pullback candle( this example in case of bearish trade) because the way I see it pullback candle which closes around its mid point at support can be construed as an inverted hammer which is a bullish signal..
As you can appreciate there is lot of fog and confusion regarding how to enter and where to exit and any guidance will be really appreciated.
Many Thanks
  • #119,705
  • Oct 14, 2012 8:57am Oct 14, 2012 8:57am
http://www.forexfactory.com/showpost...postcount=4572
http://www.forexfactory.com/showpost...postcount=7649



Quoting Praveensuri
Aretas,
Excekkent question! This is something I have struggled with.

James, How do you enter:

Completion of the bar which confirms that it one of the bar types which you mention i.e pin bar etc. What if the close of the bar is at a temporary resitance or support on a short time frame chart.. do U still enter at closing price or do you wait for a pullback and enter only if the pullback fails by a closing candle which closes below its mid point? or do u wait for another candle which closes below the close of the pullback candle( this example...
Thank you J16 & Trader Dante
  • #119,706
  • Oct 14, 2012 9:27am Oct 14, 2012 9:27am
Quoting Sciurus
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...
Hey Sciurus

Welcome to the thread , be sure to ask questions if you need help

Best
Mike
  • #119,707
  • Oct 14, 2012 9:44am Oct 14, 2012 9:44am
Quoting bullzeye
AUD/CAD

Pinocchio tells you here a nice story

Attachment
I am also in
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  • #119,708
  • Oct 14, 2012 9:58am Oct 14, 2012 9:58am
Quoting mbqb11
Hey Sciurus

Welcome to the thread , be sure to ask questions if you need help

Best
Mike
Hey Mike!

My first post for probably over a year lol!...How are you keeping matey?

Steve
  • #119,709
  • Oct 14, 2012 10:02am Oct 14, 2012 10:02am
Just setting up my charts on the weekly TF as ghous suggested by just using a single chart and dropping the pairs on it, giving a quick look at the monthly weekly & daily TFs, passing if they are not showing decent matching HCR/LCS on multiple tfs and double areas.

Saw what I missed on silver last week.
Perhaps we may get another shot at it.
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  • #119,710
  • Oct 14, 2012 10:12am Oct 14, 2012 10:12am
But this is what is my favorite.
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  • #119,711
  • Oct 14, 2012 10:59am Oct 14, 2012 10:59am
Quoting chartergas
http://www.forexfactory.com/showpost...postcount=4572
http://www.forexfactory.com/showpost...postcount=7649
Thanks C

Yes there are many ways to trade these bars all with benefits and drawbacks. For me it's highly situational both how I enter and exit. it's the overall story as opposed to a generalization. I like to wait for breaks of my bars to confirm them more times then not.

Keep digging through this thread for lots of examples and different ways to put the pieces together.


Best
Mike
  • #119,712
  • Oct 14, 2012 10:59am Oct 14, 2012 10:59am
Quoting steviet
Hey Mike!

My first post for probably over a year lol!...How are you keeping matey?

Steve
dude! What's up!

Good to see you buddy hope all is well send me a PM some time lets catch up

Best
Mike
  • #119,713
  • Oct 14, 2012 3:00pm Oct 14, 2012 3:00pm
chart to watch
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  • #119,714
  • Oct 14, 2012 4:50pm Oct 14, 2012 4:50pm
Mike, just going back to this chart you posted last week. You highlighted a trouble area where price stalled. would you ever re-enter the trade again once price went past that trouble area? Or is it over once you've taken full profit? Not just talking about this trade specifically, but in general.



http://www.forexfactory.com/attachme...3&d=1350048560
  • #119,715
  • Oct 14, 2012 5:13pm Oct 14, 2012 5:13pm
Quoting Hiten123
Mike, just going back to this chart you posted last week. You highlighted a trouble area where price stalled. would you ever re-enter the trade again once price went past that trouble area? Or is it over once you've taken full profit? Not just talking about this trade specifically, but in general.



http://www.forexfactory.com/attachme...3&d=1350048560
Hey Hiten

If I am out I am out personally

Best
Mike
  • #119,716
  • Oct 15, 2012 4:56am Oct 15, 2012 4:56am
Hi guys, I donīt know if anybody is watching this pair (EURZAR). Iīve put order above this BUOB so Iīll wait if it gets triggered, I wanted to play the pin before but price wanted to retest one more 11.1, bears didnīt have enough power to go under this RN, now bulls should be in control trying test 11.55, so my target is now something below 11.55.

Mav
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  • #119,717
  • Oct 15, 2012 7:52am Oct 15, 2012 7:52am
another great chart to watch
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  • #119,718
  • Oct 15, 2012 7:58am Oct 15, 2012 7:58am
Quoting Mav13
Hi guys, I donīt know if anybody is watching this pair (EURZAR). Iīve put order above this BUOB so Iīll wait if it gets triggered, I wanted to play the pin before but price wanted to retest one more 11.1, bears didnīt have enough power to go under this RN, now bulls should be in control trying test 11.55, so my target is now something below 11.55.

Mav
Hey Mav

Just remember though gotta be careful here as price in now in a sideways market with no space to move. So really the biggest question is what is the confluence for this bar? These can be tricking without room to run(space) and cause people difficulty on the management side

Best
Mike
  • #119,719
  • Oct 15, 2012 8:38am Oct 15, 2012 8:38am
Quoting mbqb11
Hey Mav

Just remember though gotta be careful here as price in now in a sideways market with no space to move. So really the biggest question is what is the confluence for this bar? These can be tricking without room to run(space) and cause people difficulty on the management side
Best
Mike
Hi Mike,
thanks for your response and analysis. Youīre right there is no clear ppz that I would take this buob from, the only confluence is only that bears were not able to go under the pin bar. About the management side Iīm planing to take full profit under 11.55 (or put my stop under todays low). But Iīm still in demo phase now so no real money in danger. Thanks again for your response.
  • #119,720
  • Oct 15, 2012 11:43am Oct 15, 2012 11:43am
I have demo accounts with citifx and fxcm and right now there is a 65 pip difference between the two market prices on the EURNZD. What is going on?
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