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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

  • #130,421
  • Apr 3, 2014 1:42am Apr 3, 2014 1:42am
Trade I took sunday night. Super basic stuff. Just wait for these...
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  • #130,422
  • Apr 3, 2014 1:47am Apr 3, 2014 1:47am
Quoting PhAnTi'
{quote} #2 {image} {image} Best, J
Hi mate!

Have you ever considered using TPO charts for determining your "Supply/Demand" areas? (Which I would rather call former value area but never mind). Imho with those it's easier and more accurate

Cheers,
Stephen
It's all psychology...
  • #130,423
  • Apr 3, 2014 6:33am Apr 3, 2014 6:33am
Quoting njodogg
{quote} None of those closed NY like I Would have liked, but I did find one trade that might have potential a $GBPUSD pending short. Liked how we have a two day inside formation and it stayed below resistance. http://screencast.com/t/RqdYgNn7

Closed this trade out for a quick few pips. As Donkey mentioned I may have missed a support area in my initial post. So I decided to just lock some profits.

Blue line is area I initially missed http://screencast.com/t/YrtaOEKIf89
  • #130,424
  • Edited 9:28am Apr 3, 2014 9:12am | Edited 9:28am
I have almost never traded breakout setups. I realized that price was consolidating and then today I saw a solid breakout of consolidation. It crossed brn 82. I did not wait for it to close above brn 82 (lest that happens too far away) and place a mkt order.

Neytiri
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  • #130,425
  • Apr 3, 2014 10:48am Apr 3, 2014 10:48am
Quoting mbqb11
{quote} Hey D Yes continuation bars have a lot more to look out for in my view. I always recommend to learn them after the traditional swings as I said. I think it's easier to learn that way personally. But yes their is a lot of stuff to look out for but just make sure to keep it simple and look for those strong setups. They will JUMP out at you when they come up Here are more traditional setups. Kelloggs I am still holding PRO is another I am still short off. Both are traditional pinbar swing low and huge BEOB swing high Best Mike {image} {image}...
PRO I closed last week when the gap filled at the first white box

K is the only trade I still have running across the board. We just bursted through the middle PPZ so i have locked in profit just under this area in case we retest again.
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  • #130,426
  • Apr 3, 2014 10:59am Apr 3, 2014 10:59am
Quoting michal7
Trade I took sunday night. Super basic stuff. Just wait for these... {image} {image} {image}
nice job michal!
  • #130,427
  • Apr 3, 2014 10:59am Apr 3, 2014 10:59am
Quoting mbqb11
{quote} PRO I closed last week when the gap filled at the first white box K is the only trade I still have running across the board. We just bursted through the middle PPZ so i have locked in profit just under this area in case we retest again. {image}
Hey Mike,

Can you please comment on my breakout trade (Post 130,445) ? I mean is that the same logic that you would use?

Thanks,

Neytiri
  • #130,428
  • Apr 3, 2014 11:28am Apr 3, 2014 11:28am
Quoting Neytiri
I have almost never traded breakout setups. I realized that price was consolidating and then today I saw a solid breakout of consolidation. It crossed brn 82. I did not wait for it to close above brn 82 (lest that happens too far away) and place a mkt order. Neytiri {image}
Hey Neytiri

You are far off from the breakout area for me. Meaning price has already broken out and near completed the pattern itself so you are late to the game for how I would approach it

Based on the size I would view this one on the hourly chart. You want to look towards the breakout pattern for PA(if you want to replicate how I approach them). So where the green circle is I would look for good PA on the houlry/30min even 15min for an hourly pattern.

So in this case for me there was no PA and price just broke out fast so i'd pass on this one myself

Let me know if that makes sense

Mike
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  • #130,429
  • Apr 3, 2014 11:32am Apr 3, 2014 11:32am
Quoting PhAnTi'
chart tells it all {image}
Pls,what broker do you use?
  • #130,430
  • Apr 3, 2014 11:59am Apr 3, 2014 11:59am
Quoting mbqb11
{quote} Hey Neytiri You are far off from the breakout area for me. Meaning price has already broken out and near completed the pattern itself so you are late to the game for how I would approach it Based on the size I would view this one on the hourly chart. You want to look towards the breakout pattern for PA(if you want to replicate how I appach them). So where the green circle is I would look for good PA on the houlry/30min even 15min for an hourly pattern. So in this case for me there was no PA and price just broke out fast so i'd pass on this...
Thanks so much.

Neytiri
  • #130,431
  • Apr 3, 2014 2:44pm Apr 3, 2014 2:44pm
Quoting mbqb11
{quote} PRO I closed last week when the gap filled at the first white box K is the only trade I still have running across the board. We just bursted through the middle PPZ so i have locked in profit just under this area in case we retest again. {image}
and i'm out
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  • #130,432
  • Apr 3, 2014 3:07pm Apr 3, 2014 3:07pm
AUDUSD Trade

Hi guys!

As I'm having some time from the choking grip of the university here is a post of my current trade.
My entry was based on the pinbar of March 28th.

- Daily Frame / Bias:
On the D1 timeframe you can see a very clean S/R level. Im always looking for setups at such levels, and this time I had a nice pinbar waiting for me.
I'm not a huge fan of placing limit stops under the daily low for numerous reasons.

  1. Many other traders have their stop-loss-orders under the daily low or over the daily high. If we have a range day next day, sometimes professional traders tend to run for these stops, take them out and reverse the trend. (And this is what happened next day - the daily low was taken out, and it reversed. With such a limit order I would be half way to my Stop loss at the end of the day.
  2. With a higher limit sell order you get a better RiskRatio due to your smaller stop loss level.

Having that said I placed a limit order next to the "left eye". (The high of the bar left to the pinbar) 8 times out of 10 price reaches this "left eye" at pinbar setups and reverses from here.

I was hesitating a bit about the trade knowing that the major 0.93 level is just above my head, and it haven't been touched jet. Some of you might be familiar with professional option trading - over such round numbers there are numerous stop-loss orders placed, which provides liquidity for the big guys. The point being: If we are close to big round numbers (BRNs) that haven't been touched more than 2-3 weeks, we can suppose that there is great liquidity behind it and professionals might want to push price up just to take it out. So i placed my SL 10 pips above the BRN cause i didnt want to get caught in their "stop-hunting"

And that's what exactly happened. Professional traders took out the Round number, and they shorted. All this resulted in a pinbar. (1th April)
Price then started trickling down reaching my 1 Risk ratio area, where i closed 50%. Rest @ BE.

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Cheers,
Stephen
It's all psychology...
  • #130,433
  • Apr 3, 2014 5:07pm Apr 3, 2014 5:07pm
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  • #130,434
  • Apr 3, 2014 8:45pm Apr 3, 2014 8:45pm
Pinbar sitting on the 1.6000 RN in the EURNZD. Looking to hold on to for long term.
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  • #130,435
  • Apr 3, 2014 9:30pm Apr 3, 2014 9:30pm
Mike,

How would you manage the trade when price broke out of the trendline? Would you see it as a lose of momentum or merely a retracement?
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  • #130,436
  • Apr 4, 2014 3:02am Apr 4, 2014 3:02am
EURJPY possible breakout soon.
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  • #130,437
  • Apr 4, 2014 5:38am Apr 4, 2014 5:38am
Matching highs and lows on silver/euro h4.
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Pip Project - Trading Channel
  • #130,438
  • Apr 4, 2014 6:40am Apr 4, 2014 6:40am
Hi! More screens and discussions, please! I want to learn to trade)
  • #130,439
  • Apr 4, 2014 7:30am Apr 4, 2014 7:30am
Quoting LuckyPairAA
Hi! More screens and discussions, please! I want to learn to trade)
Here's a setup I found recently, that I'd consider A+.
I was away when it formed, so I didn't take a trade on it, but since I was already positioned, I did move my stop up.
(I also placed a pink arrow where a BUOB is forming, but it still needs to close (just for the form)
Chart:
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I'm watching for EUR/AUD to close with a weekly Inside Bar below 1.5 and I'm watching NZD/USD to Close as a weekly BEOB.
Will post those two charts later today when the markets close.

W
It's a sport, an artform and a science.
  • #130,440
  • Apr 4, 2014 7:45am Apr 4, 2014 7:45am
Quoting LuckyPairAA
Hi! More screens and discussions, please! I want to learn to trade)
Also, read Post #1 carefully, there's tons of valuable information embedded in this post.

Recently 'Lamertrader' Compiled the J16 charts that were posted on this forum.

Have fun and I wish you good luck on your journey!

W
It's a sport, an artform and a science.
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