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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

  • #126,621
  • Jul 4, 2013 8:49am Jul 4, 2013 8:49am
some nice cad moves today eh!!


jon
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PATIENCE... DISCIPLINE
  • #126,622
  • Jul 4, 2013 9:20am Jul 4, 2013 9:20am
Quoting g_j_hook@yah
some nice cad moves today eh!! jon {image}
Hi jon!

Could you catch any of them? (I just looked at your charts for a sec and i didnt see any nice PA that would have made me think to enter.) How about you?
It's all psychology...
  • #126,623
  • Jul 4, 2013 9:40am Jul 4, 2013 9:40am
Quoting LamerTrader
{quote} Hi jon! Could you catch any of them? (I just looked at your charts for a sec and i didnt see any nice PA that would have made me think to enter.) How about you?
no, i wasnt here anyway. maybe the 4H BEOBs,BUOB as breakout,continuation trades, or just straight TL breaks, but it all happened a bit fast...
Will be watching for any retracements though...


jon
PATIENCE... DISCIPLINE
  • #126,624
  • Jul 4, 2013 10:30am Jul 4, 2013 10:30am
a happy 4th to all my american friends
  • #126,625
  • Jul 4, 2013 10:30am Jul 4, 2013 10:30am
Quoting g_j_hook@yah
..... {image} {image}
nice Jon

I caught the gbpcad on the hourly beob to the next round number
  • #126,626
  • Jul 4, 2013 12:43pm Jul 4, 2013 12:43pm
Quoting mbqb11
a happy 4th to all my american friends
You too Mike
It's all psychology...
  • #126,627
  • Jul 4, 2013 12:45pm Jul 4, 2013 12:45pm
Quoting str8
When you want to play a trade from a daily chart with a pending order at the break of the bar when it's good to put the pending order?After the daily bar closes at the start of Asia session or it's better to wait until Europe session starts in order to avoid false breaks from Asia session?
Nobody knows?
I use a broker that closes at 5pm est and I open the pending orders for daily trades at 5pm est. Wouldn't it be better to open them when Europe session starts because Asia session has low liquidity?
  • #126,628
  • Jul 4, 2013 12:54pm Jul 4, 2013 12:54pm
Hi to my international family!
a happy 4th to all americans
Look at EURAUD

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  • #126,629
  • Jul 4, 2013 3:30pm Jul 4, 2013 3:30pm
Quoting Pinbar
It is in the Research thread I opened. Page 2 as, I got stopped out on the first entry. Drop in Jon and give us your advice anytime, same for Ghous, Jarroo (Of course), Mike, supremeChaos and last but not least J16. http://www.forexfactory.com/showthread.php?t=435416
Hi Steve,

Thanks a lot for opening this discussion thread. I only had a quick glance at it, but I found it very informative. To tell you the truth, I have to refrain myself reading it, keeping the SFP thing for later - when I'll consider having the background to understand it. Thanks!

Speaking of understanding, I guess there are few things that start making sense to me. I've spend the last few weeks thinking about the Patience / Discipline motto (thank you Jon ), and I figured that the best way for me to not take so-so trades was to keep my hands and head busy with something else. So I've been looking at Jarroo's levels. And, along with being quite easy to implement and highly profitable, it made me understanding the idea of support <-> resistance flip. 1 year for a simple concept, not bad

Anyway, the positive effects were immediately visible on the equity curve of my demo. Seems I'm slowly getting somewhere...
It has been said thousand times here, but I'll say it once more.
Yes, indeed, every advice given here results of hours and hours of hard work - but it works. Whether I consider a trade based on a J16 classic PB or OB, or a breakout pattern "à la Mike", or a PBT trade, well, it works. Not as nicely and perfectly as I would love to see, but it works. Patience is indeed the name of the game. One just has to follow the signs that lead to positive expectancy and that bypass the traps. Easier said than done, but doable.

And for this, I will never thank you enough
Slow & steady
  • #126,630
  • Jul 4, 2013 3:38pm Jul 4, 2013 3:38pm
Quoting str8
{quote} Nobody knows? I use a broker that closes at 5pm est and I open the pending orders for daily trades at 5pm est. Wouldn't it be better to open them when Europe session starts because Asia session has low liquidity?
Hi Str8,

I live in France, and use FxPro for charting.
I usually set pending orders around - well, now: 22.00-23.30 local time, ie 5pm NY time. I always use a buffer above / below the setup. Usually, my orders are filled during the asian session, but not always. I even could get some setups before the opening of the european session, by checking my charts early in the morning (6.00 am, ie by midnight at New York).
I wouldn't consider the low volatility of the asian session as an issue here, since I (and I assume you) open trades based on a daily chart. I wouldn't say the same if we were talking about intraday trading.

Take care,
Slow & steady
  • #126,631
  • Jul 4, 2013 3:44pm Jul 4, 2013 3:44pm
Happy Independence Day to all great American guys here !!!
Your best teacher is your last mistake ...
  • #126,632
  • Jul 4, 2013 3:48pm Jul 4, 2013 3:48pm
Quoting Andersenqwer
... Look at EURAUD {image} {image}
Спасибо за EURAUD divergence, товарищ !
Я этого не заметил...
Your best teacher is your last mistake ...
  • #126,633
  • Jul 4, 2013 5:52pm Jul 4, 2013 5:52pm
Quoting mbqb11
a happy 4th to all my american friends
here here...have a good one yawl!!



jon
PATIENCE... DISCIPLINE
  • #126,634
  • Jul 4, 2013 6:00pm Jul 4, 2013 6:00pm
Quoting mbqb11
{quote} nice Jon I caught the gbpcad on the hourly beob to the next round number
lol! i knew you was gonna be all over em. i almost posted it!

nice trade i like how you took profit at the next RN.
Them were some big bars! and all without the calender.....
i liked the PB on the 1H US/CAD also. TL break and retest to PPZ and the TL. It had the RN below it to contend with but it soon ate that up! haha


jon
PATIENCE... DISCIPLINE
  • #126,635
  • Jul 4, 2013 6:10pm Jul 4, 2013 6:10pm
Quoting patapouer
{quote} Hi Steve, Thanks a lot for opening this discussion thread. I only had a quick glance at it, but I found it very informative. To tell you the truth, I have to refrain myself reading it, keeping the SFP thing for later - when I'll consider having the background to understand it. Thanks! Speaking of understanding, I guess there are few things that start making sense to me. I've spend the last few weeks thinking about the Patience / Discipline motto (thank you Jon ), and I figured that the best way for me to not take so-so trades was to...
ha it jus shows...we learn stuff on this thread from places we never even thought of yet!!
nice rant
I personally also believe if you nail that bro, trading is a doddle. PPZs are not hard to understand, its almost there simplicity that hard to except! this is about money, not us

jon
PATIENCE... DISCIPLINE
  • #126,636
  • Jul 4, 2013 6:15pm Jul 4, 2013 6:15pm
Quoting str8
{quote} Nobody knows? I use a broker that closes at 5pm est and I open the pending orders for daily trades at 5pm est. Wouldn't it be better to open them when Europe session starts because Asia session has low liquidity?
my daily bar closes at about the NY close and i enter a pending order as soon as the next bar opens. The bar last for 24 hour so you will have to trade every session anyway if your gonna wait for the next bar.

not sure wot anyone else does?

jon
PATIENCE... DISCIPLINE
  • #126,637
  • Jul 4, 2013 6:24pm Jul 4, 2013 6:24pm
Quoting Andersenqwer
Hi to my international family! a happy 4th to all americans Look at EURAUD {image} {image}
hey Andersenqwer, becarful with the divergence line you have drawn in. i see that as finished. we have bearish divergence now..(well had)
iv put how i see it on the chart...



jon
PATIENCE... DISCIPLINE
  • #126,638
  • Edited 10:40pm Jul 4, 2013 8:39pm | Edited 10:40pm
Quoting patapouer
{quote} Hi Steve, Thanks a lot for opening this discussion thread. I only had a quick glance at it, but I found it very informative. To tell you the truth, I have to refrain myself reading it, keeping the SFP thing for later - when I'll consider having the background to understand it. Thanks! Speaking of understanding, I guess there are few things that start making sense to me. I've spend the last few weeks thinking about the Patience / Discipline motto (thank you Jon ), and I figured that the best way for me to not take so-so trades was to...
Totally agree, everything is already in this thread.
For me personally, it is not so much the SFP itself, but how the SFP concept, made me come to understand the order flow around the HCR-LCS and PPZ.
This is something I truly struggled with, just trying to get my mind around how to see the order flow, at a given level.
I think all these methodologies are the same basically, just the entry is different.

I understand you keeping the SFP for later, totally.
However, think about how Jaroo chooses his targets for the PBT&CB or PBT&CA.
This is what, really clicked in my mind.
  • #126,639
  • Jul 5, 2013 2:24am Jul 5, 2013 2:24am
Quoting g_j_hook@yah
{quote} ha it jus shows...we learn stuff on this thread from places we never even thought of yet!! nice rant I personally also believe if you nail that bro, trading is a doddle. PPZs are not hard to understand, its almost there simplicity that hard to except! this is about money, not us jon
Thanks buddy,
yep, it can't be that simple, can it?


Quoting Pinbar
{quote} Totally agree, everything is already in this thread. For me personally, it is not so much the SFP itself, but how the SFP concept, made me come to understand the order flow around the HCR-LCS and PPZ. This is something I truly struggled with, just trying to get my mind around how to see the order flow, at a given level. I think all these methodologies are the same basically, just the entry is different. I understand you keeping the SFP for later, totally. However, think about how Jaroo chooses his targets for the PBT&CB or PBT&CA. This is...
Thank you Steve,
I do totally adhere to what you say.
I have followed your discussion with Jim about targets and SFP, and I have the feeling there is something to dig here. And the fact that Tom, Jarroo, Ghous - and you! have dedicated time and energy to this emphasize its importance
BUT this is the exact reason why I don't want to work on this now
I first want to practice. I'm quite pragmatic, and I put practice before theory. It has always worked better for me than the other way round... When I'll have put in practice Jarroo's advice about entry, SL, and TP, I'll have more "material" that would help me understand the concept.
Well, I hope ...

We'll see how I'll deal with that stuff in the future!
Slow & steady
  • #126,640
  • Edited 3:02am Jul 5, 2013 2:34am | Edited 3:02am
Quoting patapouer
{quote} Hi Str8, I live in France, and use FxPro for charting. I usually set pending orders around - well, now: 22.00-23.30 local time, ie 5pm NY time. I always use a buffer above / below the setup. Usually, my orders are filled during the asian session, but not always. I even could get some setups before the opening of the european session, by checking my charts early in the morning (6.00 am, ie by midnight at New York). I wouldn't consider the low volatility of the asian session as an issue here, since I (and I assume you) open trades based on...
Thanks for the answer.
I've put this question because all my daily trades that I have lost because the pending orders opened and retraced immediately without giving me the possibility to at least move to break even where opened either during Asia session either late Friday.If I would have waited until Europe session the trades wouldn't have been opened.
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