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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

  • #132,141
  • Sep 6, 2014 6:02am Sep 6, 2014 6:02am
Here is a recent trade that I made and I owe the success of this trade almost totally to fxlester for his beautiful explanation (

  1. Post 132,079) and zamfir. So thank you guys.


Here goes ..

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  • #132,142
  • Sep 6, 2014 9:01am Sep 6, 2014 9:01am
Hi seniors
I will be looking for opportunity to go long. Am i thinking correct?

Thanks for your comment
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  • #132,143
  • Sep 6, 2014 10:58am Sep 6, 2014 10:58am
eur/usd shows some confluence at 1,28 usd. former support, 61,8% fib
i will look for price action around the 1,28 usd.
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meine augen sind die sterne
  • #132,144
  • Sep 6, 2014 11:05am Sep 6, 2014 11:05am
german adva (adv) on weekly.
stock is very weak compared to the market.
price moved above 3 eur and former s/r and immediately dropped below it forming a beob.
first trouble area is at about 2.75 eur.
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meine augen sind die sterne
  • #132,145
  • Sep 6, 2014 1:47pm Sep 6, 2014 1:47pm
Quoting Neytiri
Here is a recent trade that I made and I owe the success of this trade almost totally to fxlester for his beautiful explanation ( Post 132,079) and zamfir. So thank you guys. Here goes .. {image} {image} {image}
Wow, brilliant trading Neytiri! Love the story my friend.
Follow me on twitter @FxLester
  • #132,146
  • Sep 6, 2014 4:46pm Sep 6, 2014 4:46pm
Quoting FxLester
{quote} Wow, brilliant trading Neytiri! Love the story my friend.
Thanks
  • #132,147
  • Sep 6, 2014 8:18pm Sep 6, 2014 8:18pm
Quoting Xbd14
Hi seniors I will be looking for opportunity to go long. Am i thinking correct? Thanks for your comment {image}
Hi mate
Nice post and although I don't think it will suddenly plummet I would watch overhead supply/resistance on the weekly as already the PA is showing a potential struggle to break though this. Yes it may pullback and you can buy but have a tight stop loss. Obviously don't short this, but I suspect the price may consolidate, not do a whole heap and after a while potentially work it's way done (for a while) before pushing the resistance again...personally not the trade for me for the above reasons (or I would scalp it) but I would look for something fresher with more room to move...
Just my 2 cents mate!
  • #132,148
  • Sep 7, 2014 2:49am Sep 7, 2014 2:49am
nice flag on bwld
stock made an incredible performance so far.
would put my stop somewhere below 140 usd (~137 usd).
will accelerate above 150 usd.
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meine augen sind die sterne
  • #132,149
  • Sep 7, 2014 4:26pm Sep 7, 2014 4:26pm
Hi,
Looking for PA near Ellipse to sell.
What do you think guys?
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  • #132,150
  • Sep 7, 2014 4:39pm Sep 7, 2014 4:39pm
Quoting Kouroushi
Hi, Looking for PA near Ellipse to sell. What do you think guys? {image}
gap areas can provide good S/R areas K, that's a good area to watch for some PA

Likewise if we can get down to the 1.6. Things have fallen quite hard but these gaps do tend to close

Best
Mike
  • #132,151
  • Sep 7, 2014 6:32pm Sep 7, 2014 6:32pm
looks like FX is exciting again

Here is my favorite chart to start the week.
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  • #132,152
  • Sep 8, 2014 1:06am Sep 8, 2014 1:06am
Quoting four.owls
{quote} Hi mate Nice post and although I don't think it will suddenly plummet I would watch overhead supply/resistance on the weekly as already the PA is showing a potential struggle to break though this. Yes it may pullback and you can buy but have a tight stop loss. Obviously don't short this, but I suspect the price may consolidate, not do a whole heap and after a while potentially work it's way done (for a while) before pushing the resistance again...personally not the trade for me for the above reasons (or I would scalp it) but I would look...
Thanks four.owls for your insight. Will be watching how PA move at this area
  • #132,153
  • Sep 8, 2014 3:21am Sep 8, 2014 3:21am
Hi to all people in this thread! Sank's to all who help newbies here!!! Please, experienced, help me too, in what FX pairs you trade PA and what pairs are for news one in PA. I trade 10 pairs about 3 month. Have a little profit. P. S/ Sorry for my english.
  • #132,154
  • Sep 8, 2014 5:10am Sep 8, 2014 5:10am
Quoting protuberanec
Hi to all people in this thread! Sank's to all who help newbies here!!! Please, experienced, help me too, in what FX pairs you trade PA and what pairs are for news one in PA. I trade 10 pairs about 3 month. Have a little profit. P. S/ Sorry for my english.
Hi man,
The best pairs are:
-with little spread
-with good liquidity
Think all major pairs are good for it at the beginning.
  • #132,155
  • Sep 8, 2014 5:23am Sep 8, 2014 5:23am
Quoting Alehandro
{quote} Hi man, The best pairs are: -with little spread -with good liquidity Think all major pairs are good for it at the beginning.
Totally agree! 5 majors (and maybe AUDJPY & EURGBP) are all you need, but become very familiar with them, their key levels, demand and supply zones etc and that will be enough...do less, but better!
  • #132,156
  • Sep 8, 2014 5:48am Sep 8, 2014 5:48am
Quoting Xbd14
{quote} Thanks four.owls for your insight. Will be watching how PA move at this area
Thanks mate..all the best...keep at it!!
  • #132,157
  • Sep 8, 2014 6:22am Sep 8, 2014 6:22am
Quoting protuberanec
Hi to all people in this thread! Sank's to all who help newbies here!!! Please, experienced, help me too, in what FX pairs you trade PA and what pairs are for news one in PA. I trade 10 pairs about 3 month. Have a little profit. P. S/ Sorry for my english.
Depends on how you trade. ;-)

I personally have a SL of max 10-15 ticks. (1H). If im trading with some Daily bias and I need a bigger SL (like 30ticks).
- Spread Personally I hate when spread is above 4-5 ticks, which menas even if I have a 15tick SL due to the spread it's immediately 10tick away. So at a 1RR trade 25-33% of my gain lands in my broker's pocket... Fore more info check: http://www.forexfactory.com/brokers.php#spreads

- Move/Volatility - If something is not movin' you just wont win... Im sick of seeing a great setup that I like because of the order flow and then nothing happens for 4 hours. Cause probably 4 hours after my entry the reason of my entry is not valid anymore...

- Time of volume - If you trade lower Timeframe too (scalp on 1-2 minutes) then it's important to trade only when there is speculation / or such activity. i.e. For the DAX it's 8-11am CET. For Crude or Gold look for the first hours of the US session.

--------------

Personally I like these pairs:
http://fxtrade.oanda.com/why/spreads/recent
(Named "majors")
And: CL, Gold, Silver, Dax, ES...

But the most important:
Make a journal - where you also list the pairs on which you traded. After every 2-3 months drop worst performing pair.
You need pairs that work for you and you need A+ setups.

Hope this helps.
Stephen
It's all psychology...
  • #132,158
  • Sep 8, 2014 6:43am Sep 8, 2014 6:43am
Quoting protuberanec
Hi to all people in this thread! Sank's to all who help newbies here!!! Please, experienced, help me too, in what FX pairs you trade PA and what pairs are for news one in PA. I trade 10 pairs about 3 month. Have a little profit. P. S/ Sorry for my english.
This is a common question. It really depends on your trading style and personality.

I follow the pairs I've listed here on my blog http://www.fxpep.com/my-trading-style/

Essentially I follow 45+ pairs/markets. I'm pretty sure Mike follows 80 Fx pairs and 3000 stocks (weekly).

The more markets you follow, the pickier you can be in terms of choosing setups.
Follow me on twitter @FxLester
  • #132,159
  • Sep 8, 2014 8:23am Sep 8, 2014 8:23am
i can't resist this one with this huge gap open, resistance top of box, nice beautiful pinbar, nice volatility

Let's see if this thing can take us down
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  • #132,160
  • Sep 8, 2014 8:40am Sep 8, 2014 8:40am
Quoting mbqb11
i can't resist this one with this huge gap open, resistance top of box, nice beautiful pinbar, nice volatility Let's see if this thing can take us down {image} {image}
Hi Mike,
What about our first & second support levels?
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