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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

  • #120,501
  • Nov 7, 2012 9:39am Nov 7, 2012 9:39am
The charts you post are great simple and effective...thanks. gbp.cad great trade.
  • #120,502
  • Nov 7, 2012 9:49am Nov 7, 2012 9:49am
its gonna take it ,look to support ,which its on

market is resting right now

consolidating ,you can see eur jpy doji ,h4

Quoting Rust
The big question for me is how it will react on the 1.7850 (the previous support, now resistance). I am watching on the smaller timeframes for clues. If it reverses polarity back to support, i will cut it out too.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,503
  • Nov 7, 2012 10:23am Nov 7, 2012 10:23am
Watching this area and looking for a bearish close to form a BEOB. Depending how it closes It could potentially form a decent BUOB too but I like the bearish scenario trading away from the consolidation off of the bottom of the box into the space below.
Monthly IB has been broken to the downside.
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Price is beautiful. A repetitive method is a competitive method.
  • #120,504
  • Nov 7, 2012 10:33am Nov 7, 2012 10:33am
Quoting stockEX
Hey Mike,

I have a couple of questions about Trading Psychology for you.

Do you ,with all your experience still have problems in this department?
What do you think about Mark Douglas and his books the Disciplined Trader and Trading in the Zone?(In case you read them)

Any advice on how to not freak out?

BTW Big props to you ,if there is one thing that everybody here can learn from you then itīs workethics.Its incredible to me how you can trade full time and still help others out everday in a friendly manner.I always thought Trading...
Hey Stock

Psych is obviously a huge part of trading or any probability game. I had a decent handle on the psych side from my poker days. Very similar in dealing with winners losers, runs of both. I think Trading in the zone is a good book but for me I found it to be a lot of common sense. Again I think it's a good book for someone who needs to even get their feet wet. Your psych is going to build while your confidence in your method builds. This is where time is so important. Repetition = confidence

Try writing down your emotions, learning to face them would be my biggest thing. Some people try to avoid or deflect and that's usually the biggest hurdle. I see that most often with people trying to learn. They want to blame everything but themselves. Markets are good at showing us our true colors and quick

Mike
  • #120,505
  • Nov 7, 2012 10:57am Nov 7, 2012 10:57am
Quoting fafarafa
Hi guys, my EUR USD trade, very nice for me
if it beob closes, i stay in...
Attachment
nice trade fafarafa
  • #120,506
  • Nov 7, 2012 11:23am Nov 7, 2012 11:23am
Quoting mbqb11
Hey Stock

Psych is obviously a huge part of trading or any probability game. I had a decent handle on the psych side from my poker days. Very similar in dealing with winners losers, runs of both. I think Trading in the zone is a good book but for me I found it to be a lot of common sense. Again I think it's a good book for someone who needs to even get their feet wet. Your psych is going to build while your confidence in your method builds. This is where time is so important. Repetition = confidence

Try writing down your emotions, learning...
Funny to hear you speak of Poker here...
I had an epiphany yesterday when I read how many aspiring professional Poker players could make their dreams come true if they only could bring their "A-Game" everytime they play.

Can you recommend any Poker books on "A-Game" that might translate well into trading?
  • #120,507
  • Nov 7, 2012 11:25am Nov 7, 2012 11:25am
Quoting stockEX
Funny to hear you speak of Poker here...
I had an epiphany yesterday when I read how many aspiring professional Poker players could make their dreams come true if they only could bring their "A-Game" everytime they play.

Can you recommend any Poker books on "A-Game" that might translate well into trading?
I never really enjoyed many poker books. I mostly just played and learned my style and made adjustments. Sounds like trading

Mike
  • #120,508
  • Nov 7, 2012 11:40am Nov 7, 2012 11:40am
Quoting bullzeye
yeahhh, a really sexy setup is forming ...Break of the TL and a nice BEOB

Attachment
this has great room to move before the FTA
im going to take this one my self

thanks Bullzeye, i love how simple your charts are!
keep em coming
Thank you J16 & Trader Dante
  • #120,509
  • Nov 7, 2012 12:19pm Nov 7, 2012 12:19pm
Quoting bullzeye
yeahhh, a really sexy setup is forming ...Break of the TL and a nice BEOB

Attachment
Yes, it is a nice one... I'm thinking to put a sell order at 102.4 (At the touch of the TL on tomorrow's bar)
  • #120,510
  • Nov 7, 2012 12:44pm Nov 7, 2012 12:44pm
Hey everyone,

I see a few of you are watching the EURGBP BEOB on the daily. We've broken below the TL and hopefully will have a nice strong close below .8 BRN

As a newbie, I'm struggling with entries. I'm wondering how you guys would play this one?

The two options I'm considering:

1) A sell limit at a small pull back to the .8 area. Stop Loss slightly above the high of the BEOB.

2) A sell stop at 10-15 pips below the low of the BEOB, with stop loss slightly above the .8 area.

3) Your suggestion after you explain why the previous 2 are dumb.

Thanks for any input.
WP
  • #120,511
  • Nov 7, 2012 12:56pm Nov 7, 2012 12:56pm
Quoting chartergas
this is the USDCHF H4 it has been trading in a box area for a little while and has now broken out of the box which is also the PPZ.

Im now looking for PA to go long as the last few bars have failed to push back through the PPZ and back into the box.

Any comments would be greatly welcome

Hilton
Hey Hilton,

well i don't see any boxes on H4, but it was the right analysis from you to go long. I traded this one today as well. You see a beautiful S/R flip (resistance turns into support)

On daily we have a big BUOB so the rally may continue, but i took my profits already...

cheerz

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  • #120,512
  • Edited 1:23pm Nov 7, 2012 1:06pm | Edited 1:23pm
Quoting WellPlayed

3) Your suggestion after you explain why the previous 2 are dumb.

Thanks for any input.
WP
Hey WellPlayed,

no, your entries are absolutely valid, but in this case i personally would`n go short anymore, too much support down there

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  • #120,513
  • Nov 7, 2012 1:36pm Nov 7, 2012 1:36pm
Quoting mbqb11
someone asked me about the mini dow

could we be coming near a pivotal point?

13500 then look out below? seems a good possibility
updated chart. I have been waiting on this one for awhile

Some charts I emailed the group
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  • #120,514
  • Nov 7, 2012 1:36pm Nov 7, 2012 1:36pm
I think this is a good trade ,aud and eur bearish ,gbp bullish ,

silver ,gold bearish

$ and yen crush anything its my view
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,515
  • Nov 7, 2012 1:46pm Nov 7, 2012 1:46pm
nzd = bearish haha
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,516
  • Nov 7, 2012 1:53pm Nov 7, 2012 1:53pm
Quoting Bones
nzd = bearish haha
  • #120,517
  • Nov 7, 2012 2:15pm Nov 7, 2012 2:15pm
Quoting Bones
nzd = bearish haha
Yup. Looks good to me.
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  • #120,518
  • Nov 7, 2012 2:22pm Nov 7, 2012 2:22pm
nice trade ,hopefully a runner ! NZd jpy ,jpy stongest of all buy


Quoting C-12
Yup. Looks good to me.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #120,519
  • Edited 2:48pm Nov 7, 2012 2:31pm | Edited 2:48pm
Quoting TheLastCoke
NZD/JPY This may be the reason behind the pin bar.

Attachment
NZD/JPY SL Update, Currently + 130

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  • #120,520
  • Nov 7, 2012 2:43pm Nov 7, 2012 2:43pm
very nice LC


Quoting TheLastCoke
Original Post:





NZD/JPY SL Update, Currently + 130

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On-site guru & also FF member's' psychiatrist, when not drinking tea
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