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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

  • #132,301
  • Sep 17, 2014 2:42am Sep 17, 2014 2:42am
Quoting Alehandro
Mike and others, just want to know your opinion. I want to show you a picture where you can see four trend lines: 1) Red line from #1 point through #2 point 2) Blue line from #1 point through #3 point 3) Yellow line from #2 point through #3 point 4) White line from #3 point through #4 point What trend line in your opinion is correct for waiting some BPC or another breaks in the future? Because I see 10 traders and 10 different trend lines from them {image}

Ciao Alehandro,

if you want to determine an ongoing trend, you should locate Lower Lows (LL), Lower Highs (LH), Higher Lowers (HL) and Higher Highs (HHs) to get a brief feeling how markets are moving. Trendlines visualize the setup.

Here are some examples.

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Best,
Jonas
Hero calls followed by margin calls...
  • #132,302
  • Sep 17, 2014 8:37am Sep 17, 2014 8:37am
Quoting mbqb11
{quote} A good starting place for trading against the trend is of course confluence but if it's a strong trend you want a strong bar to be able to reverse that trend. The biggest mistake I see is people learn what a pinbar or outside bar is an assume that's all we need to get in a trade. That's a very small % of what we need to do as traders. Look for those big standout bars. Add in some confluence and you'll put yourself in a good situation. If you look back to my last pending trade you can see I am trading against the trend. But i'm doing it...
Thank you Mike, it really helps me!!! now i will trade against the trend only in confluence, if it's a strong trend i'll want a strong bar, at a crucial area. One more: divergence is surely be on MACD, or not? Thank's a lot!
  • #132,303
  • Sep 17, 2014 9:00am Sep 17, 2014 9:00am
Quoting Alehandro
Mike and others, just want to know your opinion. I want to show you a picture where you can see four trend lines: 1) Red line from #1 point through #2 point 2) Blue line from #1 point through #3 point 3) Yellow line from #2 point through #3 point 4) White line from #3 point through #4 point What trend line in your opinion is correct for waiting some BPC or another breaks in the future? Because I see 10 traders and 10 different trend lines from them {image}
Hey Alehandro

The way I draw TLs is to only use highs/lows and ONLY use the mist obvious ones. Yes semi good TLs and even bad ones WILL work. But the best ones keep us being picky. If we are picky with each piece of our confluence it helps the most. In this case non of the TLs I am really all that thrilled about personally. The one Jonas posted just above is the most obvious one of all of them though.

Best
Mike
  • #132,304
  • Sep 17, 2014 9:03am Sep 17, 2014 9:03am
Quoting protuberanec
{quote} Thank you Mike, it really helps me!!! now i will trade against the trend only in confluence, if it's a strong trend i'll want a strong bar, at a crucial area. One more: divergence is surely be on MACD, or not? Thank's a lot!
Hey P

I think you are asking should we have divergence to trade against the trend? The answer is not necessarily. A big bar against the trend could signal a strong change in the flow based on that bar alone. Or price hitting a major S/R area etc. Divergence is one type of confluence to use IF it is there.

Best
Mike
  • #132,305
  • Sep 17, 2014 9:26am Sep 17, 2014 9:26am
Quoting mbqb11
{quote} Hey P I think you are asking should we have divergence to trade against the trend? The answer is not necessarily. A big bar against the trend could signal a strong change in the flow based on that bar alone. Or price hitting a major S/R area etc. Divergence is one type of confluence to use IF it is there. Best Mike
Yes, Mike i understand. Thank's!
  • #132,306
  • Sep 17, 2014 9:40am Sep 17, 2014 9:40am
Finally got a chance to BE on NZDCAD

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GBPUSD doing its job. BE on first entry. Waiting for BE on second one.

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  • #132,307
  • Sep 17, 2014 10:00am Sep 17, 2014 10:00am
Quoting Neytiri
{quote} . {image}
nothing offensive guys, but I really hope that you dont use such trendlines to enter the markets...

You gonna end up beggarly.

Take care.

Jonas
Hero calls followed by margin calls...
  • #132,308
  • Sep 17, 2014 10:07am Sep 17, 2014 10:07am
Quoting zamfir
Finally got a chance to BE on NZDCAD {image} GBPUSD doing its job. BE on first entry. Waiting for BE on second one. {image}

Hey Zamfir,


just to give you a heads-up.

Take care n enjoy.

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Regards,
Jonas
Hero calls followed by margin calls...
  • #132,309
  • Sep 17, 2014 1:01pm Sep 17, 2014 1:01pm
Quoting FxLester
{quote} Just got home from a lovely dinner.
Enjoy your holidays....

Quote
My EA has scaled me out and moved me to BE on the rest on this trade which is good to see.
As I`m not able -due to full employment- to sit in front of my pc whole day long it would be very nice to have an EA which moves half of the position to BE if target has reached. Would you mint sharing your EA or telling where to get it?
Have a nice day
  • #132,310
  • Sep 17, 2014 1:05pm Sep 17, 2014 1:05pm
Quoting FxLester
Hi Doerpn! Two things. One, great question which I'll address. Secondly, it is excellent to see you anticipating the traffic. I've scaled out and at BE for the remainder of the position now. You are right, there is close short term resistance up ahead. The way I see the potential R:R it really doesn't bother me because my plan is always to scale out at these levels and ratchet my stop. In terms of targets, I set a target at the first area and I have an "open stop" on the remainder. What I mean by this is, I move my stop (or my EA does) once pre-determined...
HI Lester,
as always very clear explanation. Thanks.
Have a nice day
  • #132,311
  • Sep 17, 2014 1:20pm Sep 17, 2014 1:20pm
Quoting Kouroushi
What do you think guys? AUD/JPY, I got long after the engulfing bar above the previous resistance which is now a support. We had a gap below my entry, if price goes below that, I may consider exiting before my SL {image}
Hi Kouroushi,
I took this trade today with a slight better entry (97.18) and TP 98.70....SL 96.18
Have a nice day
  • #132,312
  • Sep 17, 2014 1:37pm Sep 17, 2014 1:37pm
Quoting doerpn
{quote} Hi Kouroushi, I took this trade today with a slight better entry (97.18) and TP 98.70....SL 96.18
I hope you get your TP hit & I go to profit by Kuroda's speaking. However if I were you I would bring my TP a little lower, just a little
  • #132,313
  • Sep 17, 2014 11:12pm Sep 17, 2014 11:12pm
Hello friends! thoughts about usdcad. May be not bad time to buy?
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  • #132,314
  • Sep 18, 2014 4:28am Sep 18, 2014 4:28am
Quoting dvimix
Hello friends! thoughts about usdcad. May be not bad time to buy? {image}
Hi dvimix,

What about that?
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  • #132,315
  • Sep 18, 2014 4:38am Sep 18, 2014 4:38am
I don't like touch trade but this one really had a chance ​
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  • #132,316
  • Sep 18, 2014 4:40am Sep 18, 2014 4:40am
Quoting Alehandro
{quote} Hi dvimix, What about that? {image}
Hi Alehandro! Yes, may be. It 4hours time frame, last time I try not trade on it. I have selected 2 areas on it, when I ll may be trade on 4h. Or may be now price will be in some consolidation near 1.1
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  • #132,317
  • Sep 18, 2014 4:46am Sep 18, 2014 4:46am
Quoting doerpn
{quote} Enjoy your holidays.... {quote} As I`m not able -due to full employment- to sit in front of my pc whole day long it would be very nice to have an EA which moves half of the position to BE if target has reached. Would you mint sharing your EA or telling where to get it?
Hi Doerpn,

I've just PM'd you. Cheers.
Follow me on twitter @FxLester
  • #132,318
  • Sep 18, 2014 4:48am Sep 18, 2014 4:48am
Quoting gasgas
I don't like touch trade but this one really had a chance ​ {image}
Great gasgas!!! Enter on retest 115?
  • #132,319
  • Sep 18, 2014 5:17am Sep 18, 2014 5:17am
Quoting dvimix
{quote} Great gasgas!!! Enter on retest 115?
He's already made it
Try to use Jarroo's method for this situation - it would be better entries
  • #132,320
  • Sep 18, 2014 5:23am Sep 18, 2014 5:23am
Quoting Alehandro
{quote} He's already made it Try to use Jarroo's method for this situation - it would be better entries
Yes, I was referring to past time, but wrote as about future. Need to improve my English more
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