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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

  • #132,841
  • Nov 3, 2014 1:21pm Nov 3, 2014 1:21pm
Quoting Mihail481
USD/CHF 1D {image}
Mihail

Pin bar looks good on your chart but on my chart it looks a bit tiny...there is a possibility of down move but it has be watched carefully I suppose as the price approached BRN 9600 and there is FTA below that.
  • #132,842
  • Nov 3, 2014 1:35pm Nov 3, 2014 1:35pm
I love the chart pattern on this pair NZDUSD ...currently it is testing the major ppz on daily and weekly....probably we will get a good trade if we keep watching.
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  • #132,843
  • Nov 3, 2014 2:01pm Nov 3, 2014 2:01pm
Quoting jr241
Hey guys. Staring at a loss on a EURAUD trade taken at the end of last week (thankfully only a demo account). Had considered closing the trade on Friday for a small profit as price had (virtually) reached my assumed first trouble area. However, decided against it and seem to be paying for that mistake today with price looking bullish. Have posted a copy of the chart below along with the rationale for the decisions made. Would be greatly appreciated if you guys could have a look and feedback on this. Many thanks and regards, J {image}
Hey JR

The key is to be careful with these continuation bars(it's why we always tell people to learn beobs at swing highs, buob at swing lows). You had it nailed though and really if you don't want to take profit at that FTA make sure to get to b/e. If you think about it price retested the logical area and moved down. It shouldn't have to come back to this point, or at least above this point. So either get to b/e when the beob breaks or move your stop just above the high of the retest point.

Everything else you noted perfect, and that's just experience and being ok with getting out at b/e or tiny losses that will settle in for you over time

Keep it up
Mike
  • #132,844
  • Nov 3, 2014 2:10pm Nov 3, 2014 2:10pm
Thanks Mike, greatly appreciate the feedback

JR
  • #132,845
  • Nov 3, 2014 2:57pm Nov 3, 2014 2:57pm
Quoting Mihail481
USD/CHF 1D {image}
Yeah for me looks quite nice. Price reacted to this level at least 7 times and this is upper boundry of a range box that last for 3 years now.

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  • #132,846
  • Nov 4, 2014 5:10am Nov 4, 2014 5:10am
Keeping an eye on this.

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  • #132,847
  • Nov 4, 2014 5:24am Nov 4, 2014 5:24am
A trade I'm currently in. I think pretty basic stuff. Nice BUOB yesterday, bought on a brake of it at 1.4230. Initial SL below BUOB at 1.4048, now already reduced at 1.4155. I took 40% off at 1.4298. If price goes above 1.43 I'll be break even. My final target area is 1.4440-1.4500, although if we have strong momentum I might leave a little bit on the table in hope it will break 1.45.
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  • #132,848
  • Nov 4, 2014 7:24am Nov 4, 2014 7:24am
Hey guys!

placed a long on Aussie/M15.

Entry blue, stop red, target green. R:R around 35/75

obviously trading the gap+support here...

Lets c

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Best,
Jonas
Hero calls followed by margin calls...
  • #132,849
  • Nov 4, 2014 8:24am Nov 4, 2014 8:24am
Quoting PhAnTi'
Hey guys! placed a long on Aussie/M15. Entry blue, stop red, target green. R:R around 35/75 obviously trading the gap+support here... Lets c {image} Best, Jonas
nice P I like it

Similar to my trade on gbp/aud i'm in. I took a short initially yesterday and got stopped out for a tiny .125 loss(can see on chart). I'm back in at basically the same point and it's cruising lower

Lot of good looking stuff out there aud/usd , eur/usd/ gbp/usd longs all looking nice too

Mike
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  • #132,850
  • Nov 4, 2014 10:08am Nov 4, 2014 10:08am
Quoting Mihail481
USD/CHF 1D {image}

Mihail

I did take this trade yesterday and have made 26 pips so far. I have moved my stop loss to break even so no chance of going red on this trade. I used to paper trade and this one is I took with real money.

Prasad
  • #132,851
  • Nov 4, 2014 10:12am Nov 4, 2014 10:12am
Quoting prasad99
{quote} Mihail I did take this trade yesterday and have made 26 pips so far. I have moved my stop loss to break even so no chance of going red on this trade. I used to paper trade and this one is I took with real money. Prasad
I am still in this trade and As I said in my earlier post it is stalling at BRN 9600 ...there is a good chance of price moving down..let us see
  • #132,852
  • Nov 4, 2014 10:15am Nov 4, 2014 10:15am
here is the screenshot of the trade USDCHF that I took.
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  • #132,853
  • Nov 4, 2014 10:21am Nov 4, 2014 10:21am
Quoting Mihail481
USD/CHF 1D {image}

For USDCHF As I wrote earlier the price is stalled at 9600---you can see the one minute chart that I took the screenshot just now. you can see how the price playing around 9600
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  • #132,854
  • Nov 4, 2014 1:51pm Nov 4, 2014 1:51pm
Took this trade on the CADCHF yesterday following a double bar high (almost, but not quite, a triple bar high) that closed bearish below my PPZ line. Thanks Mike for your advice re how to play those FTA.


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Looking at this potential setup on the AUDCAD tonight. Also closing above recent bar highs on the 4H TF

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Regards,
JR
  • #132,855
  • Nov 4, 2014 2:01pm Nov 4, 2014 2:01pm
Quoting jr241
Took this trade on the CADCHF yesterday following a double bar high (almost, but not quite, a triple bar high) that closed bearish below my PPZ line. Thanks Mike for your advice re how to play those FTA. {image} Looking at this potential setup on the AUDCAD tonight. Also closing above recent bar highs on the 4H TF {image} Regards, JR
great job Jr, and great job making adjustments already

I like your aud/cad too, i like it on a retrace to the previous bar highs and swing low point. We have the parity level which is important and a good first target, breakeven point etc. risk is pretty small here as the box top and swing point will hold or it won't. Gotta love those type of situations

Keep it up bud

Mike
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  • #132,856
  • Nov 4, 2014 2:19pm Nov 4, 2014 2:19pm
Quoting mbqb11
{quote} nice P I like it Similar to my trade on gbp/aud i'm in. I took a short initially yesterday and got stopped out for a tiny .125 loss(can see on chart). I'm back in at basically the same point and it's cruising lower Lot of good looking stuff out there aud/usd , eur/usd/ gbp/usd longs all looking nice too Mike {image}
my gbp/aud is now at breakeven
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  • #132,857
  • Nov 4, 2014 2:24pm Nov 4, 2014 2:24pm
Quoting mbqb11
{quote} great job Jr, and great job making adjustments already I like your aud/cad too, i like it on a retrace to the previous bar highs and swing low point. We have the parity level which is important and a good first target, breakeven point etc. risk is pretty small here as the box top and swing point will hold or it won't. Gotta love those type of situations Keep it up bud Mike
Thanks Mike, my setup looks virtually identical to yours on this one. Buy limit on the bar highs at .9950; SL at the PPZ just above .9820; TP on the next bar highs/bar lows at 1.0100. All about the big round number - if it breaks 1.0000 (moving past the 2 bar highs from Sep and 2 bar lows from July at the round number), I'll be looking to get that stop up to B/E ASAP

But agree completely, doesn't look like a big risk
  • #132,858
  • Nov 5, 2014 4:21am Nov 5, 2014 4:21am
Quoting mbqb11
{quote} nice P I like it Similar to my trade on gbp/aud i'm in. I took a short initially yesterday and got stopped out for a tiny .125 loss(can see on chart). I'm back in at basically the same point and it's cruising lower Lot of good looking stuff out there aud/usd , eur/usd/ gbp/usd longs all looking nice too Mike {image}

stopped out
Hero calls followed by margin calls...
  • #132,859
  • Nov 5, 2014 5:42am Nov 5, 2014 5:42am
Quoting PhAnTi'
{quote} stopped out
entry blue
stop red
target green

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Best,
J
Hero calls followed by margin calls...
  • #132,860
  • Nov 5, 2014 6:17am Nov 5, 2014 6:17am
Quoting PhAnTi'
{quote} entry blue stop red target green {image} Best, J
Well your chart looks for me like retrace to former support/resistance and to 38.2 Fibonacci.

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