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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

  • #133,301
  • Dec 8, 2014 9:57am Dec 8, 2014 9:57am
***ZAR being stretched. Looking to short around the 11.60 area. Some basic PA would help though
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Keeping it Simple
  • #133,302
  • Dec 8, 2014 10:36am Dec 8, 2014 10:36am
Quoting habeeb
***ZAR being stretched. Looking to short around the 11.60 area. Some basic PA would help though {image}
shorting the usd? :/
Hero calls followed by margin calls...
  • #133,303
  • Dec 8, 2014 10:38am Dec 8, 2014 10:38am
Quoting mbqb11
{quote} Hey Verbal The problem with a bar like this is that you have no space for price to move.... {image}
Happy BD Mike and thanks!
Guess I wasn't picky enough this time. The risk/reward ratio wasn't great. I was expecting a precise level instead of a PP zone and the pin bar looked too tempting!
  • #133,304
  • Dec 8, 2014 10:40am Dec 8, 2014 10:40am
Quoting PhAnTi'
{quote} shorting the usd? :/
No. Long ZAR.
Keeping it Simple
  • #133,305
  • Dec 8, 2014 12:15pm Dec 8, 2014 12:15pm
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  • #133,306
  • Dec 8, 2014 12:29pm Dec 8, 2014 12:29pm
Quoting Tin-soldier
1567778 {image}
looks good brotha well thought out

Mike
  • #133,307
  • Dec 8, 2014 2:45pm Dec 8, 2014 2:45pm
Quoting mbqb11
{quote} Hey Trader As always and many times we have answered before. We are an education for traders. The only people who get money from our site are myself and James and our web guy and the costs for the site. More have been compensated when the site was making WAY more than it is making now because we wanted to help others out. Their is nothing wrong with people being compensated for their time, energy and knowledge. In fact for many years now I myself could have made WAY more with my education and skills and have personally chosen not too. I...
Mike

You cannot take all these guys and their comments seriously and respond to that I suppose. There is so much fake stuff in trading world and this one thread where people have some chance to learn from real folks. Who ever comes to this thread and learns really has a karmic connection to this whole stuff and I really believe it is so. Personally I dont think I have come here by chance though it looks like it. While I spent a couple of years not consistently though trying to understand trading from reading books, indicators and trend lines I just could not make any progress. And once I came here I just instinctively felt that it is going to work , of course you have to work on the technique and practice but you see a way to trade successfully. I owe something to you and the guys who helped me out here. I have been a paid member also for a while but then I got busy with other things so had to discontinue that.
  • #133,308
  • Dec 8, 2014 3:16pm Dec 8, 2014 3:16pm
Quoting prasad99
{quote} Mike You cannot take all these guys and their comments seriously and respond to that I suppose. There is so much fake stuff in trading world and this one thread where people have some chance to learn from real folks. Who ever comes to this thread and learns really has a karmic connection to this whole stuff and I really believe it is so. Personally I dont think I have come here by chance though it looks like it. While I spent a couple of years not consistently though trying to understand trading from reading books, indicators and trend lines...
Thanks P I feel the same about karma. I don't put faith in much except karma in many ways

I actually don't take things personally with this stuff bud so don't worry I've heard it all by now. I just actually try to answer and really help out anyone who wants it. As you know by this thread I do it for FREE here. yes we have a paid site and as you know we spend a LOT of time there and think it's fair to be compensated for that time. It's the crap out there that makes people so off put. That's the part I understand but we prove that by doing it year after year now for almost 10years! I don't know many places that can say that.

A number we never even knew till we started to redesign our new site is that 80% of EVERY member who has ever signed up with us and stayed 3 months ended up staying for a FULL lifetime membership. A site that asks for nothing and people can leave and come as they please. That number for me says it all and speaks for itself and keeps me working hard to help share what I know. That's all i can do at the end of the day, but I'm passionate about sharing it properly.

So at the end of the day that's what it's all about to me and i'll continue to help here for free as much as I can without it disrupting the private site as i've done for many more years then i've done nearly anything in my life LOL

Keep on P and thanks for those nice comments

Mike
  • #133,309
  • Dec 8, 2014 3:33pm Dec 8, 2014 3:33pm
Quoting mbqb11
{quote} this ones at breakeven now This is what I was hinting at in my rant about knowing where to enter on your bars. You can get yourself into more trades with smaller overall risk and NOT jeopardize the trades. As opposed to just buying/selling and getting to b/e when you feel like it Mike {image}
closed this one out now for a nice profit

I use the term "real" risk which i identify as the area where you are going to jump out most times as opposed to the way I define my position size which is my initial risk. Again just the dynamic risk:reward topic I speak about
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  • #133,310
  • Dec 8, 2014 3:51pm Dec 8, 2014 3:51pm
Hey Mike,


You do a great job on this thread. As they say, haters gonna hate and there will always be people who unfortunately question the integrity of the thread, but those of us who follow the thread closely appreciate your input greatly. Thanks for all your efforts

JR
  • #133,311
  • Dec 8, 2014 4:28pm Dec 8, 2014 4:28pm
BUOB on gbpcad. I'm looking to get in on a retrace to the recent bar highs

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  • #133,312
  • Dec 9, 2014 3:06am Dec 9, 2014 3:06am
Happy birthday Mike !
Nothing personal,just business
  • #133,313
  • Dec 9, 2014 5:32am Dec 9, 2014 5:32am
Shorting this pair from here. It just have to drop ... drop ... drop ... and stay down so that I can hold for a few years and make maximum use of the swap
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Keeping it Simple
  • #133,314
  • Dec 9, 2014 7:27am Dec 9, 2014 7:27am
I don't see this setup posted very often, while it starts being one of my favorites: low risk when enter on a retrace, clearly defined S/R levels, clear targets, etc…

Plus we haven't seen Ghous for a while and he shared this "discovery" in this thread as well as in his:
Quoting ghous
{quote} Apologies for the delay. Eid's approaching here really fast and understandably there is quite a lot beyond charts that occupying me. Anyway here's the video (turned out to be longer than I thought so had to break it up in 2 parts): http://www.youtube.com/watch?v=ryetG...wlzhw1C50yna7W http://www.youtube.com/watch?v=RRRGZ...N_uA_YgxdfIYLI g.
Inverted pinbar on EUR/AUD a few weeks ago, nice long-term support at 1.42 and shorter-term at 1.4250, confluence with 150EMA. Entry on a retrace to 1.4250. 50% off at the internal PPZ by 1.4380 for a 2R profit. TP of the 2nd half trailed according to J16's S/R, situation reassessed according to price reaction at the PPZ levels.

Well, so far so good

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Ghous, if you ever pass by: thanks
Slow & steady
  • #133,315
  • Dec 9, 2014 7:56am Dec 9, 2014 7:56am
Gold making a move. Here's a chart showing Mouteki setup forming.
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Keeping it Simple
  • #133,316
  • Dec 9, 2014 7:58am Dec 9, 2014 7:58am
UsdZAR update ....
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Keeping it Simple
  • #133,317
  • Dec 9, 2014 8:29am Dec 9, 2014 8:29am
Quoting mbqb11
{quote} any surprise to see price bounce? Simple side to side s/r , but more importantly confluence and strong areas are all you need {image}
price has now broken buob high so i've reduced most my risk under the current swing low put in at the major support area
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  • #133,318
  • Dec 9, 2014 8:37am Dec 9, 2014 8:37am
Quoting fxgroup
Happy birthday Mike !
thanks
  • #133,319
  • Dec 9, 2014 9:01am Dec 9, 2014 9:01am
Quoting mbqb11
{quote} price has now broken buob high so i've reduced most my risk under the current swing low put in at the major support area {image}
I'm out of Gold. Will re-enter long from a lower price.
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Keeping it Simple
  • #133,320
  • Dec 9, 2014 10:50am Dec 9, 2014 10:50am
How good a pin bar can get.....it cannot get any better than the one in this GBP/JPY pair. IT seems like JPY pairs are the hardest to trade with all those sudden swings the pair undergoes. One has to be cautious when trading if JPY is involved.
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