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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

  • #131,261
  • Jun 17, 2014 3:16am Jun 17, 2014 3:16am
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hi all....
  • #131,262
  • Jun 17, 2014 7:40am Jun 17, 2014 7:40am
Quoting dog4
{quote} Agreed. I exited a long. Thought of going short on that pin. And then reminded myself that there is not much room to run plus that the pin closed over Support (at least the wayI charted it). PS I have the same 'problem' in easily spotting opportunities but not the risks. Being positive about it, I think it shows creativity Putting on a risk manager hat is the missing element. Force yourself to see both sides of the coin
absolutely nothing wrong with passing here for both of you. It is a trafficked trade with a smaller nose pinbar. These can work and your FTAs were marked, but often it's the trade mgmt aspect that gets people caught in those situations

Plus gold looked much nicer via this chart

Quoting SHCHerbakov
{image} hi all....
Vanilla training your psyche more then anything to realize a few good trades a month even is all you need to build an account helps this process. It takes the need to be in the market away and helps build that patient better than anything I know

keep at it
Mike
  • #131,263
  • Jun 17, 2014 9:54am Jun 17, 2014 9:54am
Quoting vanilla.sky
Hello Dog an Alehandro, Thanks for your comments as it is really helpful for me.
Alehandro, are you sure of this silver sir?
follow @Elliotwavetiger @peternormans for big pips
  • #131,264
  • Jun 17, 2014 9:58am Jun 17, 2014 9:58am
EURUSD
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  • #131,265
  • Jun 17, 2014 10:04am Jun 17, 2014 10:04am
this is my take on EURUSD entered at 1.3560 sl 1.3590 tp 1.3320
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follow @Elliotwavetiger @peternormans for big pips
  • #131,266
  • Jun 17, 2014 11:33am Jun 17, 2014 11:33am
Quoting P.Action
Hi Guys, I share my weekend outlook worksheet. it contains clasical and reverse divergencies and candlestick pattern. other words everything is on one sheet. i hope it will help. GL. Have a nice weekend. P.S. monthly candlestick patterng belongs to last month. not this month. & H4-IB's is only inside 4 bar because of low liquidty end of the week. {image}

Hey P.Action,

Do you have this Spreadsheet available?

Thanks,

Knowlti
Knowlti
  • #131,267
  • Jun 17, 2014 11:38am Jun 17, 2014 11:38am
Quoting mbqb11
{quote} absolutely nothing wrong with passing here for both of you. It is a trafficked trade with a smaller nose pinbar. These can work and your FTAs were marked, but often it's the trade mgmt aspect that gets people caught in those situations Plus gold looked much nicer via this chart {quote} Vanilla training your psyche more then anything to realize a few good trades a month even is all you need to build an account helps this process. It takes the need to be in the market away and helps build that patient better than anything I know keep at it...
Hello Mike,
Thanks for your comments.
I need to read some more about traffic and risk. Now I see traffic everywhere to be honest but I am still reading about this so hopefully it will be clearer.
Regards.
  • #131,268
  • Jun 17, 2014 12:22pm Jun 17, 2014 12:22pm
Quoting vanilla.sky
{quote} Hello Mike, Thanks for your comments. I need to read some more about traffic and risk. Now I see traffic everywhere to be honest but I am still reading about this so hopefully it will be clearer. Regards.
yes their is often a trouble area somewhere. The thing to do is weight that trouble area verse the setup you are taking. Often times I might just reduce risk a bit, or even times do nothing. People think they have to get out or go to b/e at every FTA and that's not the case

A simple example is like silver bar

It's a small bar with little confluence FTA needs to be given a LOT more weight. Then say a big pinbar with space that FTA might just be a previous bar high/low flip that price may just pause at and i'd more likely look to reduce risk at that point but not look to abandon or jeopardize the integrity of my trade

Hope that helps a bit
Mike
  • #131,269
  • Jun 17, 2014 2:19pm Jun 17, 2014 2:19pm
Quoting mbqb11
{quote} yes their is often a trouble area somewhere. The thing to do is weight that trouble area verse the setup you are taking. Often times I might just reduce risk a bit, or even times do nothing. People think they have to get out or go to b/e at every FTA and that's not the case A simple example is like silver bar It's a small bar with little confluence FTA needs to be given a LOT more weight. Then say a big pinbar with space that FTA might just be a previous bar high/low flip that price may just pause at and i'd more likely look to reduce risk...
Hello Mike,
I think this was exactly the point.
Cheers.
  • #131,270
  • Jun 17, 2014 2:22pm Jun 17, 2014 2:22pm
EURAUD: This is a snapshot of my EURAUD trade i copied from my Forexfactory's Trade Explorer. This is actually a free trade that is almost 250pip away from the entry level. The trade has been running since May 22, almost 27 days. now i am thinking about how to exit the trade. one mind is telling me to put a stop loss at the SR level (1.4614), and the other is telling me to put my SL a few pips above todays Candle. by putting the SL at 1.4614, I am gonna risk almost half of the profit. please I need your input on this.
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  • #131,271
  • Jun 17, 2014 2:32pm Jun 17, 2014 2:32pm
Quoting mbqb11
{quote} yes their is often a trouble area somewhere. The thing to do is weight that trouble area verse the setup you are taking. Often times I might just reduce risk a bit, or even times do nothing. People think they have to get out or go to b/e at every FTA and that's not the case A simple example is like silver bar It's a small bar with little confluence FTA needs to be given a LOT more weight. Then say a big pinbar with space that FTA might just be a previous bar high/low flip that price may just pause at and i'd more likely look to reduce risk...
I am thinking since two days about this post pic 3 cause pin is right at the level of prev swing. I know that this post was about pin, not about traffic, so you took picture to show pin characteristics only. But I am curious if this set up should be avoided due to the fact we have this swing? Or the explanation is that we trade breakout from pin which will also break out prev swing?

http://www.forexfactory.com/showthre...95#post1460995

Thank you.
  • #131,272
  • Edited 5:14pm Jun 17, 2014 4:39pm | Edited 5:14pm
Hi guys.

i want to share my notes with you.

1.if we look EUR-JPY there is bullish divergence. So EUR is up against JPY theoretically
2.İf we look CAD-JPY there is bearish divergence. SO JPY is up against CAD theoretically.

As a result we found EUR-CAD 2 times up movement. and also this currency has bullish divergence too but more reliable because of option 1&2. additionally last two days price wasnt close below 200 EMA. i think train will move in these days. waiting good pattern to enter long at short TF. There is fibo levels and TL's as resistence to break. if it breaks last down move will be bearish trap.

this is just share.

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  • #131,273
  • Jun 17, 2014 4:46pm Jun 17, 2014 4:46pm
Quoting knowlti
{quote} Hey P.Action, Do you have this Spreadsheet available? Thanks, Knowlti

yeah. i revised it today except 4hours.

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File Type: xlsx fx worksheet.xlsx   14 KB | 564 downloads
  • #131,274
  • Jun 17, 2014 4:57pm Jun 17, 2014 4:57pm
Quoting Ulsemioxa
Hi , may be i on a wrong way..........who can tell{image}
Quoting P.Action
{quote} Chart tells everything. beceraful bullish movement with news from Iraq. {image} BTW outlook of monthly chart. {image}

i hope you loaded your pocket with dollars dude i escaped this one with 2 dollars because of my conservative sides.

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  • #131,275
  • Jun 17, 2014 5:01pm Jun 17, 2014 5:01pm
Quoting P.Action
{quote} yeah. i revised it today except 4hours. {file}
Thank you sir!

Knowlti
Knowlti
  • #131,276
  • Jun 17, 2014 9:46pm Jun 17, 2014 9:46pm
Quoting vanilla.sky
{quote} I am thinking since two days about this post pic 3 cause pin is right at the level of prev swing. I know that this post was about pin, not about traffic, so you took picture to show pin characteristics only. But I am curious if this set up should be avoided due to the fact we have this swing? Or the explanation is that we trade breakout from pin which will also break out prev swing? http://www.forexfactory.com/showthre...95#post1460995 Thank you.
Hey VS

This is a great one because if you sell a break of the low of the pin you are selling UNDER the swing and then you know price should NOT have to come back up and that area should hold as resistance. This makes it a highly useful area from a trade mgmt perspective

Hope that helps
Mike
  • #131,277
  • Jun 17, 2014 9:47pm Jun 17, 2014 9:47pm
Quoting Fx4real
EURAUD: This is a snapshot of my EURAUD trade i copied from my Forexfactory's Trade Explorer. This is actually a free trade that is almost 250pip away from the entry level. The trade has been running since May 22, almost 27 days. now i am thinking about how to exit the trade. one mind is telling me to put a stop loss at the SR level (1.4614), and the other is telling me to put my SL a few pips above todays Candle. by putting the SL at 1.4614, I am gonna risk almost half of the profit. please I need your input on this. {image}
Hey Fx4

From a general standpoint this previous BOX high plus the BRN + the descending TL could be an area to get the bounce and hold price down.


Best
Mike
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  • #131,278
  • Jun 18, 2014 12:42am Jun 18, 2014 12:42am
USDCAD
Possible long position, but low P/L ratio.
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  • #131,279
  • Jun 18, 2014 12:48am Jun 18, 2014 12:48am
EUR CAD
Possible short position
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  • #131,280
  • Jun 18, 2014 1:06am Jun 18, 2014 1:06am
Quoting normans
{quote} Alehandro, are you sure of this silver sir?
Hello friend,

I think - the best choise for it - to skip this signal. P\L ratio - is bad, pin-bar - is bad.
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