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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

  • #129,381
  • Dec 30, 2013 7:05pm Dec 30, 2013 7:05pm
Quoting ghous
{quote} I see no fake out. You're either talking about fake outs in the context of your own method or have completely misconstrued mine. Saw a chart earlier from Fxyogi that got me thinking the same. g.
its inside bar fakeout , called hikkake pattern in japanese. Not the normal fakout we are talking in this thread.
  • #129,382
  • Dec 31, 2013 1:07am Dec 31, 2013 1:07am
Quoting damien100
Ghous Wishing you A Very Happy New Year. Damien
Have a great 2014 yourself Damien! I am so looking forward to this year, as this will, in many ways, create the biggest impact on my life. Wishing the entire family here, lots of happiness and fulfillment of dreams for 2014.

g.
I believe . . .
  • #129,383
  • Dec 31, 2013 1:09am Dec 31, 2013 1:09am
Quoting Fxyogi
{quote} its inside bar fakeout , called hikkake pattern in japanese. Not the normal fakout we are talking in this thread.
I thought so.

Thanks for the clarification.

PS: Maybe its a good idea that we refer to this particular fake out pattern by the japanese name so people don't confuse the different methods and worse still, think of them as the same.

g.
I believe . . .
  • #129,384
  • Dec 31, 2013 1:52am Dec 31, 2013 1:52am
My dear brothers ,

Wish you all happy new year. I pray almighty to provide you all peaceful trading life in 2014. If 2013 was not good any of you , Don't worry start a new life from 2014 with taking resolution to keep discipline in trading and keep on learning, you will achieve your goal as you wish.

May god bless you all...


Fxyogi
  • #129,385
  • Dec 31, 2013 2:58am Dec 31, 2013 2:58am
Quoting dan89
Hey all Absolutely nothing happening with the charts as of late. Just this semi decent box starting to form. Looking for a BO either way if we get a few more touches. {image} Edit, Just looking at that pattern now, I dont like the top level. Just need it to hold maybe once more before taking a break to the downside of the bottom level which looks alot better {image} Mike, Whats your opinion on this chart Take care Dan
Price currently testing the support zone. Idealy would like to see a bounce here or a strong close below the whole zone ...
  • #129,386
  • Dec 31, 2013 4:43am Dec 31, 2013 4:43am
Quoting dan89
{quote} Price currently testing the support zone. Idealy would like to see a bounce here or a strong close below the whole zone ...
Hey Dan,

I see you are dropping down to the H1 during very illiquid times. Gotta be careful with that!
Anyways, I can see the potential in this trade, as it looks OK on the Daily as well:
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbpdaily.png Size: 30 KB

FTA is way ahead and we are in a major downtrend, which are all good signals. However I'd rather wait for a daily close below this level, or I might even pass it as it is not a A+ set up and of course it's new year's eve...

No matter what your decision is I'd like to wish you and every body else Happy New Year!
Twitter @raitchev
  • #129,387
  • Dec 31, 2013 11:08am Dec 31, 2013 11:08am
Quoting raitchev
{quote} Hey Dan, I see you are dropping down to the H1 during very illiquid times. Gotta be careful with that! Anyways, I can see the potential in this trade, as it looks OK on the Daily as well: {image} FTA is way ahead and we are in a major downtrend, which are all good signals. However I'd rather wait for a daily close below this level, or I might even pass it as it is not a A+ set up and of course it's new year's eve... No matter what your decision is I'd like to wish you and every body else Happy New Year!
Hey mate, hows things

In regards to dropping down TF's. Most of my trades are taken on the 1hr. and a few on the daily, dont take any trades on the others TF's. But this is only because these are the TF's that I am comfortable with through backtesting and live trading. Price reacted to the levels as expected but it was a bit messy/choppy which i dont really like.

Take care
Dan
  • #129,388
  • Jan 1, 2014 2:27am Jan 1, 2014 2:27am
Quoting Fxyogi
{quote} Felixcattus, just Noticed the Sunday bars after you pointed out . But the dates are somehow different . I got fooled by the dates. Thanks for pointing out mate.Any idea to overcome sunday bar?.
No problem. You might want to check out FxPro and open an MT4 demo account with them. I go through a different broker for orders but just use them for charting - their D1 bars use the NY close, they have other markets besides Forex and there's no expiration on a demo account with them like some brokers have (at least - they haven't canceled mine yet!)

Happy New Year!
If you can't tell what the herd is doing...you probably are the herd.
  • #129,389
  • Edited 6:25am Jan 1, 2014 6:09am | Edited 6:25am
Attached Image (click to enlarge)
Click to Enlarge Name: 1-1-2014 7-03-10 AM_AUDUSD_WEEKLY.png Size: 16 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 1-1-2014 7-06-34 AM_AUDUSD_DAILY.png Size: 20 KB


Happy New Year! .

Neytiri
  • #129,390
  • Jan 1, 2014 12:07pm Jan 1, 2014 12:07pm
Quoting Neytiri
{image}{image} Happy New Year! . Neytiri
Nice. A pull back to the 9000 looks on the cards.

Still on the sidelines till the start of next week. Hope you've all been having a rocking time these holidays and wishing everybody a fantabulous 2014!


g.
I believe . . .
  • #129,391
  • Jan 1, 2014 2:43pm Jan 1, 2014 2:43pm
Quoting Neytiri
{image}{image} Happy New Year! . Neytiri
Its a verrry steep trendline though ...

Take care
Dan
  • #129,392
  • Jan 2, 2014 3:54am Jan 2, 2014 3:54am
Quoting dan89
Hey all Absolutely nothing happening with the charts as of late. Just this semi decent box starting to form. Looking for a BO either way if we get a few more touches. {image} Edit, Just looking at that pattern now, I dont like the top level. Just need it to hold maybe once more before taking a break to the downside of the bottom level which looks alot better {image} Mike, Whats your opinion on this chart Take care Dan
Hey all,

Just a quick update, Price reacted as expected but the break was a bit messy ..

Attached Image (click to enlarge)
Click to Enlarge Name: 02-01-2014 09-52-35.png Size: 32 KB


Take care
Dan
  • #129,393
  • Jan 2, 2014 8:11am Jan 2, 2014 8:11am
Quoting dan89
{quote} Hey all, Just a quick update, Price reacted as expected but the break was a bit messy .. {image} Take care Dan
Sure Dan - it went exactly where it had to... no surprises.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbpdaily.png Size: 28 KB
Twitter @raitchev
  • #129,394
  • Jan 2, 2014 8:17am Jan 2, 2014 8:17am
Here's what I have on my watchlist.

First is GBPUSD. Really nice 130 pips rejection bar off the 1.6500 level. FTA @ 1.63 level, but not too strong. Next one is at 1.62... which gives overall nice R:R perspectives.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusddaily.png Size: 25 KB


Then is AUDCAD. This consolidation box has been forming for 3 weeks already and strong close below the .94 level would look nice. However, FTA is fairly close, so stops will be kept tight.
Attached Image (click to enlarge)
Click to Enlarge Name: audcaddaily.png Size: 30 KB


Any thoughts?
Twitter @raitchev
  • #129,395
  • Jan 2, 2014 10:51am Jan 2, 2014 10:51am
Quoting mbqb11
{quote} Updated stop under swing low which nearly puts me at a free trade. Will be watching the 8$ area and see if we can get above it and too the 9$ area. 8$ is a big area though {image}
Happy new year to all my friends here. I am excited to get back to it though

YUM got stopped out at b/e

here is my updated LTXC chart with locked in profit
Attached Image (click to enlarge)
Click to Enlarge Name: 1-2-2014 ltxc.jpg Size: 200 KB
  • #129,396
  • Jan 2, 2014 2:45pm Jan 2, 2014 2:45pm
Interesting BEOB I'm watching. :o)
Attached Image (click to enlarge)
Click to Enlarge Name: gbpauddaily-jan2nd2014.png Size: 54 KB
Price is beautiful. A repetitive method is a competitive method.
  • #129,397
  • Jan 2, 2014 5:37pm Jan 2, 2014 5:37pm
Quoting raitchev
{quote} Sure Dan - it went exactly where it had to... no surprises. {image}
Hey mate,

Yup sure did. Its always nice to see price do what you expect it to do. It provides reassurance and confidence that your doing the right thing

Personally If I see a pattern on a certain TF I stick to that TF for trade management TP levels etc. I used to check s/r levels on different TF's but I now prefer to keep things as simple as possible.

BTW I did take a TT entry on the setup but got stoped out due to that messy/choopy break. Result: -2%

...but the setup moved nearly as expected which is important to me

Attached Image (click to enlarge)
Click to Enlarge Name: 02-01-2014 23-31-58.png Size: 37 KB


Take care
Dan
  • #129,398
  • Jan 2, 2014 5:38pm Jan 2, 2014 5:38pm
Quoting nwo-trader
Interesting BEOB I'm watching. :o) {image}
Don't forget to ask yourself some important questions:

Where is the first trouble zone? (hint 1.8300)
What will you do when the price reaches it?
Will you be able to move stop to BE when this happens?
If not, will you be surprised if price bounce back from that level for a loss?

I just did that... and I've passed on the trade. And the two possible signals I've posted earlier today...

Plus, a BEOB just hanging out there is not enough for me. I would like to see that BRN being confirmed as important from some prevous price action...

Pickiness...
Twitter @raitchev
  • #129,399
  • Jan 2, 2014 5:41pm Jan 2, 2014 5:41pm
Quoting dan89
{quote} Hey mate, Yup sure did. Its always nice to see price do what you expect it to do. It provides reassurance and confidence that your doing the right thing Personally If I see a pattern on a certain TF I stick to that TF for trade management TP levels etc. I used to check s/r levels on different TF's but I now prefer to keep things as simple as possible. BTW I did take a TT entry on the setup but got stoped out due to that messy/choopy break. Result: -2% ...but the setup moved nearly as expected which is important to me {image} Take care...
Wow Dan, you must have had really tight stops....
Do you directly trade the breakout or wait for a confirmation/pullback?

What I've found to work for me is if I trade a breakout on a smaller TF to wait for the pullback. However I don't do this on higher TF's - Daily and above. You probably know Mike's philosophy - breakout, pullback and price action at the s/r level... probably the best thing to do!
Twitter @raitchev
  • #129,400
  • Jan 2, 2014 5:54pm Jan 2, 2014 5:54pm
Quoting dan89
{quote} Hey mate, Yup sure did. Its always nice to see price do what you expect it to do. It provides reassurance and confidence that your doing the right thing Personally If I see a pattern on a certain TF I stick to that TF for trade management TP levels etc. I used to check s/r levels on different TF's but I now prefer to keep things as simple as possible. BTW I did take a TT entry on the setup but got stoped out due to that messy/choopy break. Result: -2% ...but the setup moved nearly as expected which is important to me {image} Take care...
Good for confidence is right Dan. We will take losses no matter what. One thing is with the end of year markets they are less liquid so everything is a bit more choppy or over exaggerated. So good patterns they might respect but over shoot more cause of liquidity. I touch trade too but I use a lot less risk then my normal trades. Like a 1/4 personally, I find it easier mentally as well as you have less ability to move stops then with PA.

Happy new year bud

Mike
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