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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

  • #132,581
  • Oct 9, 2014 2:00pm Oct 9, 2014 2:00pm
Quoting vanilla.sky
{quote} Hello Mike, Are you saying about this setup? Was this touch entry? http://www.forexfactory.com/attachme...7&d=1412730215
Hey VS

Nope that was part of the trade mgmt from my earlier short from monday where I was already in from 16985

http://www.forexfactory.com/showthre...00#post7785600

Todays trade was a separate one for me

Here is a video of it i did for the group

Inserted Video


hope it helps
Mike
  • #132,582
  • Oct 9, 2014 9:20pm Oct 9, 2014 9:20pm
Quoting mbqb11
{quote} Hey VS Nope that was part of the trade mgmt from my earlier short from monday where I was already in from 16985 http://www.forexfactory.com/showthre...00#post7785600 Todays trade was a separate one for me Here is a video of it i did for the group http://www.youtube.com/watch?v=dmSNBQ72_IM hope it helps Mike

took 44 ticks back to the long side here too, here's my charts from the private group

Nothing like todays huge drop but this was a very easy logical bounce area. Mini dow is 5$ a tick per contract

[
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  • #132,583
  • Oct 9, 2014 10:00pm Oct 9, 2014 10:00pm
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  • #132,584
  • Oct 10, 2014 7:36am Oct 10, 2014 7:36am
Something to keep an eye
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  • #132,585
  • Edited 10:58am Oct 10, 2014 10:37am | Edited 10:58am
Quoting mbqb11
{quote} Hey VS Nope
Mike, thanks for comment.

One trade today when I saw breakout and later outside bar @ PPZ. I took half and moved rest to BE, when price peaked second time and stalled. Later second unit was stopped out.
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  • #132,586
  • Oct 10, 2014 4:56pm Oct 10, 2014 4:56pm
Quoting vanilla.sky
{quote} One trade today when I saw breakout and later outside bar @ PPZ. I took half and moved rest to BE, when price peaked second time and stalled. Later second unit was stopped out. {image}
Price went finally to my original target which was 1.85. I am too nervous I guess.
  • #132,587
  • Oct 11, 2014 5:18am Oct 11, 2014 5:18am
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  • #132,588
  • Oct 11, 2014 8:59am Oct 11, 2014 8:59am
Hi Mike if it's not a secret, how you managed your's daily trade. I found in thread how you managed trade in traffic, and 2 bar's trailing stop in hope to catch large movement, you used 2 bar's trailing stop on daily too? Thanks
  • #132,589
  • Oct 11, 2014 8:06pm Oct 11, 2014 8:06pm
My question is along with pin bar and bearish and bullish outside bars how relevant is the setup where price moves from a major pivot zone. If the price moves from a very major pivot zone can we take a touch trade on this and will this as good as PA. I have no doubt of the efficacy of PA (both pin and outside bars with a right story ) but what about price moves from a major ppz. Can such trades be taken without PA. What is the risk. I can figure that out from paper trading but I am not touching lower timeframes anymore. I am just focusing on daily and weekly. I am avoiding lower timeframes like poison right now. Confidence is big in trading and if we lose it by even paper trading and LTF and have losing trades it can impact our trading confidence.
  • #132,590
  • Oct 12, 2014 11:31am Oct 12, 2014 11:31am
Quoting protuberanec
Hi Mike if it's not a secret, how you managed your's daily trade. I found in thread how you managed trade in traffic, and 2 bar's trailing stop in hope to catch large movement, you used 2 bar's trailing stop on daily too? Thanks
Hey Pro

Nope their are no secrets to what I do. Each trade I evaluate as it's own situation or story. It depends highly on what kind of trade it is on how I will manage that situation. As well as new information comes in

Here is a general breakdown of what I mean
http://www.forexfactory.com/showthre...22#post2853922

Again though it's critical to map out the different ways a trade might play out. I'm always looking to reduce risk on my trades while maintaining my initial thoguht process. This is what I call dynamic risk:reward. Also a one size fits all approach is not the best way to approach the markets in my opinion too. Experience and understanding makes us better traders to make better decision in the long run

Best
Mike
  • #132,591
  • Edited 3:16pm Oct 12, 2014 2:54pm | Edited 3:16pm
Hi All,
NZDUSD W1
comments & suggests are welcame
cheers !
Xam
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  • #132,592
  • Oct 12, 2014 3:23pm Oct 12, 2014 3:23pm
Quoting Xamarass
Hi All, NZDUSD W1 comments & suggests are welcame cheers ! Xam {image}
Xamarass,
It's not "higher close"
  • #132,593
  • Edited 6:27pm Oct 12, 2014 5:05pm | Edited 6:27pm
Quoting Xamarass
Hi All, NZDUSD W1 comments & suggests are welcame cheers ! Xam {image}
This is not DBLHC, moreover, this is a sign of weakness (semi pinbar). I wouldn't trade that long nor short (because of strong support).
  • #132,594
  • Oct 12, 2014 9:36pm Oct 12, 2014 9:36pm
Quoting Dovilo
{quote} This is not DBLHC, moreover, this is a sign of weakness (semi pinbar). I wouldn't trade that long nor short (because of strong support).
a more advanced play is to buy into the "wick"

I call them wick plays where sell orders are absorbed and price path of least resistance is back up through them

I took the long on the aud/usd but it's pretty identical play
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way more advanced type play though and thanks for jumping in guys to correct that this is not a DBLHC

For those still getting the bars down I have a newbie webinar where you can see all the bar types and their descriptions
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Best
mIke
  • #132,595
  • Edited 11:52pm Oct 12, 2014 11:33pm | Edited 11:52pm
thanks for the above comments,
why is not DBLHC ? by the definition: double bar low witha higher close. two consecutive bars with the lows being equal and the CLOSE of the second bar outside/above the previous ( I don't undestand why is not matching the criteria) !
Xam
  • #132,596
  • Oct 13, 2014 12:10am Oct 13, 2014 12:10am
Quoting Xamarass
thanks for the above comments, why is not DBLHC ? by the definition: double bar low witha higher close. two consecutive bars with the lows being equal and the CLOSE of the second bar outside/above the previous ( I don't undestand why is not matching the criteria) ! Xam
Second bar close MUST be above than the high of the previous bar.
  • #132,597
  • Oct 13, 2014 1:31am Oct 13, 2014 1:31am
Thank's Mike, One more question: When you used 2bar and when 1 bar trailing stop? Thank's
  • #132,598
  • Oct 13, 2014 2:54am Oct 13, 2014 2:54am
Hi
Mike and others,
What do you think about trading instruments - I mean not Forex, but NYSE, NASDAQ, AMEX markets or maybe you use another markets (Futures, options)?
I think if I want to find the best A+++++ signal on weekly charts - I should looking for it not on Forex where I have only 10 major pairs against more than 1300 stocks on NYSE e.g.

Want to know where do you work? Maybe you can recommend us some good places for work

Thanks
  • #132,599
  • Oct 13, 2014 4:00am Oct 13, 2014 4:00am
Quoting Xamarass
Hi All, NZDUSD W1 comments & suggests are welcame cheers ! Xam {image}
Hi Xam.....that's an IPB !
Nothing personal,just business
  • #132,600
  • Oct 13, 2014 5:33am Oct 13, 2014 5:33am
Quoting Xamarass
thanks for the above comments, why is not DBLHC ? by the definition: double bar low witha higher close. two consecutive bars with the lows being equal and the CLOSE of the second bar outside/above the previous ( I don't undestand why is not matching the criteria) ! Xam
Second's bar close must be higher than first's bar high. First's bar close means nothing.
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