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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

  • #130,941
  • May 20, 2014 2:10am May 20, 2014 2:10am
OMG, so boring markets
If not up, then down, otherwise sideways :-)
  • #130,942
  • May 20, 2014 5:53am May 20, 2014 5:53am
Quoting KissFan
USDCHF Observation Price will be turning down soon and the safest target I can observe is .8870. A break of .8870 will have me looking toward .8847 for some additional profit. I am not in a trade yet but soon will be. Looking for some good old fashioned J16 H1 setups possibly London session for entry. Best of luck to all. K.I.S.S. {image}
USDCHF Short in progress

Alrighty then, I got an order fill while I slumbered this morning at 89.33 and now I have my stop at break even. I have another short order at .8943 if this trade fails. Protect yourself and have a great trading day everyone!

K.I.S.S.
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  • #130,943
  • May 20, 2014 9:00am May 20, 2014 9:00am
Hi Guys, been a few years since i've been here. and now I'm back! but i realise it's not as lively as before..
  • #130,944
  • May 20, 2014 9:33am May 20, 2014 9:33am
Quoting premierpip
Hi Guys, been a few years since i've been here. and now I'm back! but i realise it's not as lively as before..
Welcome back! We'd love to see what you are doing.

K.I.S.S.
  • #130,945
  • May 20, 2014 10:50am May 20, 2014 10:50am
Quoting premierpip
Hi Guys, been a few years since i've been here. and now I'm back! but i realise it's not as lively as before..
hey PP welcome back

It's been a slow few months in FX, the thread generally moves with the market lol

hope all is well!
Mike
  • #130,946
  • May 20, 2014 10:52am May 20, 2014 10:52am
Quoting mbqb11
{quote} not convinced so i'm on the sidelines but we had a weak closing bar(wick play) as price closed outside the channel. These like to fill, 9000 is a strong pivot might be the better area to watch. Had the euro closed the same way I would have bought the usd/chf or sold the euro through the "wick" Hope all is well Kiss Mike {image}
Do you trade these wickplays on a lower timeframe? I assume you would put a stop right below the bar. Just curious as to how you cut a profit out of those,with that small of a target/tp.I know you don't care much about RR but still.
  • #130,947
  • May 20, 2014 10:53am May 20, 2014 10:53am
Quoting vanilla.sky
Hi all, First of all, thanks to the authors of this post. It is really awesome! I have something you can call trader ADHD so I decided I have to trade on higher TF and learn to take better trades (A or A+ with confluence and no traffic). Can you please take look on below chart and let me know the areas I have spotted with brown rectangles have good potential for trade if I get clean PA? In each case I provided what confluence is there. I have also question on 7th of 4 we had what I think is clean PA with no traffic. If we get BUOB today will that...
Hey Vanilla

Yep you are right it's the hardest part learning to sit and wait for the best ones. Especially when the markets are moving at a snails pace like now. I suggest watchign more pairs and more markets to help with this. This will keep you busy as well as allow you to stay picky

As for your chart here is how I was watching the euro
http://www.forexfactory.com/attachme...3&d=1400082195

As you can see your brown area lines up with the confluence area so it certainly is a good area to watch. One thing to note is that most PA within these areas will be trading into traffic since we are sideways both short term(box) and long term channel. same can be said for teh BEOB on the 7th. It doesn't mean you can trade it but traffic is close by do to the lack of space. If you haven't check out my video on traffic vs space it should help

Hope that helps
Mike
  • #130,948
  • May 20, 2014 10:55am May 20, 2014 10:55am
Quoting chiba_san
{quote} Matching low... Yes. Why is it a continuation trade. What's the criteria
Hey Chiba

Matching highs/lows can be used for a continuation since orderflow builds on the other side of these areas. This creates a "burst" of price. Although you can use 2 bar highs, or TBLs to find these I highly recommend looking for multiple bar highs and lows. This will give the market more time to build up that orderflow and give you more of a "pop". Another criteria is these highs/lows should be pretty much exact. They are great when you find them

Best
Mike
  • #130,949
  • May 20, 2014 10:57am May 20, 2014 10:57am
Quoting dmc
{quote} I am out at .37 R/R. Just didn't get that push I wanted to see.
don't blame ya buddy
  • #130,950
  • May 20, 2014 10:58am May 20, 2014 10:58am
Quoting Magestic
OMG, so boring markets
I'm open to 3 trades in equities, still waiting for FX to move again. Until then
  • #130,951
  • May 20, 2014 11:08am May 20, 2014 11:08am
Quoting stockEX
{quote} Do you trade these wickplays on a lower timeframe? I assume you would put a stop right below the bar. Just curious as to how you cut a profit out of those,with that small of a target/tp.I know you don't care much about RR but still.
Hey Stock

Like all PA that we speak about it can be applied to any timeframe. I tend not to go down past the 1hr with any of my trading these days. Stop does go below the bar(or a bit lower/higher depending if their is a level it should be just under/over like a normal PA). Target is nearly always the top/bottom of the wick(or nearly the top bottom). Your R:R is often very good with the "almost" pinbars. Sometimes you have a larger wick that coincidences with a larger body. But as with all PA setups I am always looking to reduce my stop which makes me R:R dynamic generally gives me good overall R:R in the long run.

Here is an example of a wick play from a live trade i did for the PF
Inserted Video



Hope it helps!
Mike
  • #130,952
  • May 20, 2014 11:19am May 20, 2014 11:19am
Quoting mbqb11
{quote} Hey Stock Like all PA that we speak about it can be applied to any timeframe. I tend not to go down past the 1hr with any of my trading these days. Stop does go below the bar(or a bit lower/higher depending if their is a level it should be just under/over like a normal PA). Target is nearly always the top/bottom of the wick(or nearly the top bottom). {/quote}
Thanks mike great video ,great explanation.
  • #130,953
  • May 20, 2014 12:51pm May 20, 2014 12:51pm
Quoting dan89
{quote} Update: C'MON ..MOVE !!



I am still kicking myself for bailing too soon on that one...
prob'ly bcos of the beating I took on the USD/CAD trade that didn't move and I stayed with it.

also,
is anyone else buying Silver?
  • #130,954
  • May 20, 2014 1:09pm May 20, 2014 1:09pm
Dear traders, please give a link to the webinar Mike! I would be very grateful!
  • #130,955
  • May 20, 2014 1:59pm May 20, 2014 1:59pm
Quoting mAks22
Dear traders, please give a link to the webinar Mike! I would be very grateful!
Hey Maks

My webinars are for PF members but I recently uploaded one on youtube when I was trying to explain an answer to someone here. So here is that one for you

Inserted Video


Best
Mike
  • #130,956
  • May 20, 2014 9:27pm May 20, 2014 9:27pm
this one is back on my radar again. We just need some volatility!
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  • #130,957
  • May 21, 2014 12:10am May 21, 2014 12:10am
Quoting mbqb11
{quote} Hey Maks My webinars are for PF members but I recently uploaded one on youtube when I was trying to explain an answer to someone here. So here is that one for you https://www.youtube.com/watch?v=VUxNKisOfto Best Mike
Thank you very much Mike! I myself am a newbie, recently found this site (or rather this thread James 16)! To be honest I enjoyed half the indicators in the vastness of the internet searching for the magic strategy, and so nothing is not achieved (no progress). When I found this thread and read 5 pages, I was excited to read. True I do not have much time to sit at the computer, but I decided in part to print out and read at leisure. I think if it were not for this thread I would have 2-3 years would look magical strategy would seek the Grail.)))))
  • #130,958
  • May 21, 2014 12:24am May 21, 2014 12:24am
Quoting mbqb11
{quote} Hey Maks My webinars are for PF members but I recently uploaded one on youtube when I was trying to explain an answer to someone here. So here is that one for you https://www.youtube.com/watch?v=VUxNKisOfto Best Mike
Thanks Mike for the video.. these are some of the good stuff
  • #130,959
  • May 21, 2014 1:26am May 21, 2014 1:26am
Support and resistance.

Some common sense, knowing how others trade.

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Cheers,
Stephen
It's all psychology...
  • #130,960
  • May 21, 2014 3:42am May 21, 2014 3:42am
Quoting mbqb11
{quote} ... If you haven't check out my video on traffic vs space it should help Hope that helps Mike
Hello Mike,
Thanks for your response. I have already seen the videos and they clarify a lot.

Greg
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