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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

  • #132,341
  • Sep 19, 2014 6:39am Sep 19, 2014 6:39am
Quoting PhAnTi'
{quote} Hey Zamfir, just to give you a heads-up. Take care n enjoy. {image} {image} Regards, Jonas



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have a nice weekend.

G,
Jonas
Hero calls followed by margin calls...
  • #132,342
  • Sep 19, 2014 7:17am Sep 19, 2014 7:17am
EURUSD DAILY
A green zone where I'm looking for a good PA to go long. Red zones - PPZs.
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  • #132,343
  • Sep 19, 2014 7:29am Sep 19, 2014 7:29am
Quoting Alehandro
EURUSD DAILY A green zone where I'm looking for a good PA to go long. Red zones - PPZs. {image}
puh buddy, try to brighten up your chart...You will see a lot more... this is really a mess^^

Hero calls followed by margin calls...
  • #132,344
  • Sep 19, 2014 8:17am Sep 19, 2014 8:17am
Quoting PhAnTi'
{quote} puh buddy, try to brighten up your chart...You will see a lot more... this is really a mess^^
Hi Jonas,
On the weekly chart we are not close to any PPZ and whaiting when the price'll hit it for searching any PA.. look at my chart pls.
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  • #132,345
  • Sep 19, 2014 8:31am Sep 19, 2014 8:31am
Anybody looking at GBPJPY daily? Something might be setting up..
  • #132,346
  • Sep 19, 2014 8:36am Sep 19, 2014 8:36am
Quoting PhAnTi'
{quote} {image} {image} have a nice weekend. G, Jonas
PhAnTi,
What are you thinking now?
Do you think it's wise to go short with this pinbar if it closes so?
We are in a downtrend, however as ususal we have some traffic ahead
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  • #132,347
  • Sep 19, 2014 12:13pm Sep 19, 2014 12:13pm
Quoting Kouroushi
Anybody thinks about going short on NZD/CAD? Have broken a VBRN strongly {image}
Hi K.,
there is no space....I wouldn`t take it.
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Have a nice day
  • #132,348
  • Sep 19, 2014 1:55pm Sep 19, 2014 1:55pm
I think this is a very good looking pinbar on the daily chart. If you look back in time price have repeatedly respected this level, almost to the pip. Now i know its late friday (which it always seem to be when these kind of bars appear) so my question to you mike is how do one treat these kind of late setups? I know not to get involved now but do you still consider the pinbar when the marked open again next week?
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  • #132,349
  • Sep 20, 2014 5:53am Sep 20, 2014 5:53am
.
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  • #132,350
  • Sep 20, 2014 8:00am Sep 20, 2014 8:00am
Quoting nc_trader
One of my best trading weeks! Profit in points {image} free picture upload
Hi NC, congrats on these wonderful trades! i am up myself aprox. 10% on my small account, so im really happy. But now, unlike before, im trying to remind myself that these fast moving markets, with easy-to-spot trades dont last forever. More, i think its quite easy to trade in these conditions, since most setups work. But it will come a time when the markets will return to a range period and we gotta be careful not to give back our hard-earned money

what im trying to say is that in good trading conditions, people become over-confident and when the market quiets down, many go in a losing streak.

just an opinion from a rookie. cheers.
Market can stay irrational longer than you can stay solvent.
  • #132,351
  • Sep 20, 2014 8:02am Sep 20, 2014 8:02am
Quoting PhAnTi'
{quote} puh buddy, try to brighten up your chart...You will see a lot more... this is really a mess^^
great to see you around, Phanti. Im a big fan of your S/D theory please stick around as long as possible, i think there are many who can learn some stuff from you.
Market can stay irrational longer than you can stay solvent.
  • #132,352
  • Sep 20, 2014 9:44am Sep 20, 2014 9:44am
Quoting Neytiri
. {image}
Nice chart.
I am also looking to that trend line. It will be a nice entry level for a long term position
  • #132,353
  • Sep 20, 2014 12:52pm Sep 20, 2014 12:52pm
.
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  • #132,354
  • Sep 20, 2014 2:23pm Sep 20, 2014 2:23pm
Quoting Alehandro
Waiting for retest level ar 1.0946 for long, TP ar 1.0979, SL at 1.0925 {image}
Closed at TP with profit.
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  • #132,355
  • Sep 20, 2014 4:53pm Sep 20, 2014 4:53pm
What do you guys think on going short?
GBP/CAD:

  1. we are in a downtrend
  2. a pinbar which is also a outside bar in daily closed below a VBRN
  3. this VBRN now is flipped into a resistance
  4. I think we have enough space to go short

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  • #132,356
  • Edited Sep 21, 2014 5:02am Sep 20, 2014 6:13pm | Edited Sep 21, 2014 5:02am
Quoting Kouroushi
What do you guys think on going short? GBP/CAD: we are in a downtrend a pinbar which is also a outside bar in daily closed below a VBRN this VBRN now is flipped into a resistance I think we have enough space to go short {image}
I removed my previous comment. I checked a wrong chart sorry.

Basically, current momentum is neutral, the weekly trend is neutral and turning down, and the daily trend is negative. Bearish confirmation is needed (support line breakout) and momentum change. In my opinion last daily bar close price upwards swing has been very modest and that means bears are strong but the bounce on the resistance level is not yet confirmed because price is still trapped within the SR area.

A bearish candle should close below enough the SR area to confirm that the negative trend continues and strong support at 1.77 level.
  • #132,357
  • Sep 20, 2014 7:16pm Sep 20, 2014 7:16pm
Quoting Kouroushi
What do you guys think on going short? GBP/CAD: we are in a downtrend a pinbar which is also a outside bar in daily closed below a VBRN this VBRN now is flipped into a resistance I think we have enough space to go short {image}
Hi,
I don't think so that sell stop is a good idea for this PA pattern, it would be better to wait any retest (1.7963-1.7998) and then go short to 1.7756-60 1st target.
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  • #132,358
  • Sep 21, 2014 5:41am Sep 21, 2014 5:41am
Quoting FXBat
{quote} Hi NC, congrats on these wonderful trades! i am up myself aprox. 10% on my small account, so im really happy. But now, unlike before, im trying to remind myself that these fast moving markets, with easy-to-spot trades dont last forever. More, i think its quite easy to trade in these conditions, since most setups work. But it will come a time when the markets will return to a range period and we gotta be careful not to give back our hard-earned money what im trying to say is that in good trading conditions, people become over-confident...
Yes FxBat, you said it correct.

The reason most people did well this week was because most pairs are trending this month. This was not the case for past 2 months where most pairs were in range Except for some JPY pairs.

This is where the biggest challenge come. No strategy or R/R will make good pips in range months. This is where the discipline comes to stay out of the markets until a good setups however few or rare shows up a ranging month. As time passes in range months , the trader who feels he has to trade everyday feels the frustration and takes bad setup and loses what he made in trending months. I had to learn this the hard way. Hopefully some newbies will pick up on this and practice the discipline to stay out of markets when it doesn't move.
  • #132,359
  • Sep 21, 2014 6:52am Sep 21, 2014 6:52am
Quoting FXBat
{quote} Hi NC, congrats on these wonderful trades! i am up myself aprox. 10% on my small account, so im really happy. But now, unlike before, im trying to remind myself that these fast moving markets, with easy-to-spot trades dont last forever. More, i think its quite easy to trade in these conditions, since most setups work. But it will come a time when the markets will return to a range period and we gotta be careful not to give back our hard-earned money what im trying to say is that in good trading conditions, people become over-confident...
I think you are right
Have a nice day
  • #132,360
  • Sep 21, 2014 7:19am Sep 21, 2014 7:19am
I know you are right, it is easy to make money when markets have a nice trend and when the markets are ranging it is not so easy.
But i have nice results for the past months even when market are ranging, because i only trade with high risk/reward setups.
I never trade with less than 1:5R/R and i believe Risk/Reward is the key to success!

At this moment i'm looking to AUD/CAD, it seems nice to me.
It breaks a nice bullish channel and a nice support zone.
http://s29.postimg.org/brge82i7r/AUDCADDaily.png
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