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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

  • #133,141
  • Nov 25, 2014 10:08am Nov 25, 2014 10:08am
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  • #133,142
  • Nov 25, 2014 10:35am Nov 25, 2014 10:35am
Quoting prasad99
{quote} Thanks for your comments on this one. I do agree with you that stop loss was an issue here as I went in for a 30 pip stop loss on a 4 hr chart. But still the bottom line is if I had waited for some PA this would have been a winning or a break even trade. The problem with trading is someone can teach you a method but it is hard to teach patience and to overcome the urge to trade more. However I have to test my strategy to trade off PPZ's with some confluence(at least two more signals like BRN or FIBs or PA) and stop pulling the trigger once...
Oh, and there was a quote somewhere by Dobe_r_man (Nathan) who basically said that instead of bragging about one's paper profit one better brag about the SL being hit - as a SL hit is a controlled loss, while no SL is a never ending whole...
Or, as said by Mike, something like it's what we end up doing between the good trades that puts us into troubles.

Helped me changing perspective
Slow & steady
  • #133,143
  • Nov 25, 2014 3:03pm Nov 25, 2014 3:03pm
I was short nzdcad after Friday's bar. Still working on (trailing) SL placement as the trade progresses - this one was perhaps set too aggressively. Still, better than watching price retrace and your wins turn into losses


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  • #133,144
  • Nov 25, 2014 10:10pm Nov 25, 2014 10:10pm
I am looking into the following charts for some PA

Daily
EUR/AUD
AUD/NZD
  • #133,145
  • Nov 26, 2014 2:53am Nov 26, 2014 2:53am
Quoting prasad99
{quote} I took this trade on the 4 hr chart. I just wanted to the trade the breakout from the PPZ. The stop loss was set at 30 pips. There were 3 bearish candles and I was expecting the price to go downwards. And after that it so happened that the market posted a pin bar with a huge spike to the upside that took my stop loss away and then the market moved downwards. While the market respected this PPZ and moved downwards I was not expecting the pin bar with a huge spike to the upside. So taking a trade just based on breakout from the PPZ has not...
Quoting mbqb11
an example of what i'd like to happen This area can hold as resistance as it has(many have shorted at that previous support). Personally i'd be at breakeven if I did. I'd actually rather us say hold here today then close back above this area and then buy. {image}
Out with a small loss (75% of my initial position) as neither 1.4000 nor 1.4050 seemed to hold as resistance.
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Slow & steady
  • #133,146
  • Nov 26, 2014 4:15am Nov 26, 2014 4:15am
Quoting Winston Reed
I didn't trade this but had my alarm set. Woke up and was too lazy. Would have been a nice trade. My PPZ drawn from the daily chart. A 4 hour BUOEB closed above the 2.0 and the PPZ. I think this is good example of J16 at its best and how to trade a continuation bar. {image} {image}
great chart Winston! I try trade breakouts on demo. What you think about it?
AUDCAD D1 PPZ and RN 0.96.
AUDCAD H4 big BEOB.
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  • #133,147
  • Nov 26, 2014 7:03am Nov 26, 2014 7:03am
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  • #133,148
  • Nov 26, 2014 7:14am Nov 26, 2014 7:14am
THIS POST WAS EDITED.

Quoting protuberanec
{quote} great chart Winston! I try trade breakouts on demo. What you think about it? AUDCAD D1 PPZ and RN 0.96. AUDCAD H4 big BEOB. {image} {image}
Thanks P.

AUDCAD daily chart shows a PPZ and the current daily candle on my feed is still rather new. The time since the last touch of the PPZ is some time ago so it makes me a little leery of this PPZ. But a close of a big daily PA candle would be something to consider.

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The H4 chart on my feed does show a BEOEB but I wouldn't trade an H4 close in this case as the history of the PPZ is not that strong and not recent. I would need a big daily PA bar to close below the PPZ and the BRN to consider a trade.

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  • #133,149
  • Nov 26, 2014 7:29am Nov 26, 2014 7:29am
Quoting Winston Reed
THIS POST WAS EDITED. {quote} Thanks P. AUDCAD daily chart shows a PPZ and the current daily candle on my feed is still rather new. The time since the last touch of the PPZ is some time ago so it makes me a little leery of this PPZ. But a close of a big daily PA candle would be something to consider. {image} The H4 chart on my feed does show a BEOEB but I wouldn't trade an H4 close in this case as the history of the PPZ is not that strong and not recent. I would need a big daily PA bar to close below the PPZ and the BRN to consider a trade. {image}...
I understand, thanks Winston!
  • #133,150
  • Nov 26, 2014 8:59am Nov 26, 2014 8:59am
Closed it out. I don't think much is going to happen day before Thanksgiving so I'll take my 25 pips and have some Pumpkin Pie and a steaming cup of joe.

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  • #133,151
  • Nov 26, 2014 9:13am Nov 26, 2014 9:13am
i'm off for a bit here with thanksgiving holiday and a wedding so I won't be able to get here much to comment

Here is my webinar yesterday and thought I would post up as a little treat. It covers a lot of topics and hopefully it helps some of you

Happy thanksgiving and enjoy the holidays for those in the states

Inserted Video
  • #133,152
  • Nov 26, 2014 9:34am Nov 26, 2014 9:34am
Quoting mbqb11
i'm off for a bit here with thanksgiving holiday and a wedding so I won't be able to get here much to comment Here is my webinar yesterday and thought I would post up as a little treat. It covers a lot of topics and hopefully it helps some of you Happy thanksgiving and enjoy the holidays for those in the states https://www.youtube.com/watch?v=yqzr...ature=youtu.be

Mike

thanks a lot. It is a great help for all of us. I am sitting in the office at edison and can see that snow fall has started. Be careful while driving out there.
  • #133,153
  • Nov 26, 2014 1:02pm Nov 26, 2014 1:02pm
Quoting mbqb11
i'm off for a bit here with thanksgiving holiday and a wedding so I won't be able to get here much to comment Here is my webinar yesterday and thought I would post up as a little treat. It covers a lot of topics and hopefully it helps some of you Happy thanksgiving and enjoy the holidays for those in the states https://www.youtube.com/watch?v=yqzr...ature=youtu.be
Have a great thanksgiving , enjoy a lot of beer and thanks again for your great video
Have a nice day
  • #133,154
  • Nov 26, 2014 5:15pm Nov 26, 2014 5:15pm

https://charts.mql5.com/6/331/nzdusd...ts-limited.png

NZDUSD. Price formed BUEOB.
  • #133,155
  • Nov 26, 2014 10:01pm Nov 26, 2014 10:01pm
NZD pairs moving nicely today...

NZD/USD

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NZD/JPY

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  • #133,156
  • Nov 26, 2014 10:21pm Nov 26, 2014 10:21pm
EURNZD H8 short. Huge excess of annotations because I was sharing it with a skype group.

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Confluence is king.
  • #133,157
  • Nov 26, 2014 10:22pm Nov 26, 2014 10:22pm
Quoting mbqb11
i'm off for a bit here with thanksgiving holiday and a wedding so I won't be able to get here much to comment Here is my webinar yesterday and thought I would post up as a little treat. It covers a lot of topics and hopefully it helps some of you Happy thanksgiving and enjoy the holidays for those in the states https://www.youtube.com/watch?v=yqzr...ature=youtu.be
Thank u , Happy Thanks giving Holiday
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  • #133,158
  • Nov 27, 2014 2:21am Nov 27, 2014 2:21am
AUD pairs also moving today...

EUR/AUD

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AUD/CHF

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  • #133,159
  • Nov 27, 2014 8:14am Nov 27, 2014 8:14am
Hi All,

I found nice setup in AUDJPY pair, waiting for PIN Bar formation to enter it. The Channel pattern retrace, 23.6% fib level retrace, retrace occur at Major PPZ and BRN value of 100.00 and The nose touch exactly previous high 99.908 are added more weight for this entry...

I hope here story was playing a major role than strategy...Friends I expect commend about the entry....
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  • #133,160
  • Nov 27, 2014 10:00am Nov 27, 2014 10:00am
Quoting mbqb11
i'm off for a bit here with thanksgiving holiday and a wedding so I won't be able to get here much to comment Here is my webinar yesterday and thought I would post up as a little treat. It covers a lot of topics and hopefully it helps some of you Happy thanksgiving and enjoy the holidays for those in the states https://www.youtube.com/watch?v=yqzr...ature=youtu.be
Great webinar! I often doing some of this mistekes, and after webinar i understand some of them. Thanks Mike!
Happy Thanksgiving!
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