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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

  • #134,061
  • Apr 1, 2015 7:04am Apr 1, 2015 7:04am
GPBCAD - Took this yesterday. BE now.

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  • #134,062
  • Apr 1, 2015 7:09am Apr 1, 2015 7:09am
Oh boy I like that stuff

Resumed live trading a few weeks ago on a tiny account.

I'm still in the GBPCHF weekly pinbar, 50% off for a 1% gain, and a few pips secured.
Tried to add to the short position on the lower timeframe (H4 & H1) but got stopped out twice at break even on retraces.

This one was the one without retrace:
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Entry on the break of the massive BEOB, engulfing the 1.4450 - 1.4400 RN / PPZ with a massive bearish divergence on the RSI.
SL was tight, by 1.4220 (above RN + 150EMA, which I was expecting to hold).

Targeting the bottom of previous D1 low / RN 1.43 - and that was an easy 2%+ in the pocket.
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...

Well, even if it is very unlikely that Jim ever read this - Thanks!!
Slow & steady
  • #134,063
  • Apr 1, 2015 10:20am Apr 1, 2015 10:20am
EURO is still going down against the dollar. The truth is trading requires one to be bold , take reasonable risks and focus on the major support and resistance areas on higher time frame charts. The EURUSD has broken a major support area at 120 and it is still going down. If any traders have found a way to get on to this trade using some PA then they will be making money for weeks on end. Now another thing I love to do is to use FIBS to stay in the trade and manage the trade. Now I pulled the FIB on this pair from its down slide from 120 and the retracement has not hit 50 percent. If the retracement breaches 50 on FIBS then one may get out of the trade but this really means risking half the value of the trade but I think one has to take that risk to be able to stay in the trade.
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  • #134,064
  • Apr 1, 2015 2:57pm Apr 1, 2015 2:57pm
Audcad - be.

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  • #134,065
  • Apr 1, 2015 3:56pm Apr 1, 2015 3:56pm
GBP/CAD 4H. BEOVB. Missed getting in earlier on the PB but got in at break of BEOVB. Set 2 orders. first took profit while i was sleeping and reversed before i could set 2nd order to BE. Would've taken me out. Anyway, still in this trade and i think it has plenty of room to move down further. I'm still raking in the pips on EUR/USD. Good job y'all. G

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'Fail to plan, plan to fail'
  • #134,066
  • Apr 1, 2015 4:49pm Apr 1, 2015 4:49pm
Quoting zamfir
Audcad - be. {image}
Z

Nice setup. Good trading.
  • #134,067
  • Apr 1, 2015 5:09pm Apr 1, 2015 5:09pm
Hey Gitarbloke....

Actually, I took GBPCAD- long position.



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Darek
  • #134,068
  • Apr 1, 2015 6:03pm Apr 1, 2015 6:03pm
Quoting Guitarbloke
GBP/CAD 4H. BEOVB. Missed getting in earlier on the PB but got in at break of BEOVB. Set 2 orders. first took profit while i was sleeping and reversed before i could set 2nd order to BE. Would've taken me out. Anyway, still in this trade and i think it has plenty of room to move down further. I'm still raking in the pips on EUR/USD. Good job y'all. G {image}
Nice trading....I much prefer the outside bar to the pinbar anyway. I just saw it on my charts too. I'm not around 4Hr charts much so I miss most of those.
  • #134,069
  • Apr 2, 2015 6:28am Apr 2, 2015 6:28am
USDCHF

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  • #134,070
  • Apr 2, 2015 7:38am Apr 2, 2015 7:38am
Quoting long2339
Hey Gitarbloke.... Actually, I took GBPCAD- long position. {image}{image} Darek
Good stuff on the W1 PB Long2339. I noticed that trade. Thought i'd see if i could get some pips going short. I will consider a long if/when price hits support at around 1.8518. All the best with it.

Thanks Donkey! G
'Fail to plan, plan to fail'
  • #134,071
  • Apr 2, 2015 4:01pm Apr 2, 2015 4:01pm
USD/CHF 30M PB off support level. Entered on 30M so i could get tighter S/L. Trade triggered on break of bar. 2 buy orders. See how she goes. G

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'Fail to plan, plan to fail'
  • #134,072
  • Apr 2, 2015 6:19pm Apr 2, 2015 6:19pm
Hi everyone,

I'm new to this thread and new to forex as well ( my trading career is roughly 2 months old). Since starting I've been trying to grab just about every piece of knowledge about the biz as I possibly can. I'm glad I found this thread because now I feel I'm making some progress. I've tried using lots of indicators to trade but quickly realised that hurts your trade way more than it helps. I hope to learn as much as possible so that I can trade my way to the life I want.
  • #134,073
  • Apr 2, 2015 6:23pm Apr 2, 2015 6:23pm
EUR/USD 4H. Inside bar rejecting 1.0900 level. Taking this chance to re-enter downtrend. 2 sell stop orders set below IB. Tight S/L.

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'Fail to plan, plan to fail'
  • #134,074
  • Apr 3, 2015 3:35am Apr 3, 2015 3:35am
Quoting mbqb11
{quote} lol yes it takes a lot of work more than i imagined. It's not far though ontoast, but we have always been quality of material and real traders making money, over just a site to market like most of the junk out there So we always hope that comes through in what we do for you guys and heck who has been around over a decade doing it. Best Mike
Hi Mike, is the site you are talking about www.james16group.us ? Pardon me for I am new and am not too familiar with things around here.
  • #134,075
  • Apr 3, 2015 5:24am Apr 3, 2015 5:24am
Quoting Guitarbloke
EUR/USD 4H. Inside bar rejecting 1.0900 level. Taking this chance to re-enter downtrend. 2 sell stop orders set below IB. Tight S/L.
Hey Guitarbloke - I've been enjoying seeing you put your charts up (along with everyone else) - makes up for the fact that I haven't found anything to trade as I'm either not at the screen at the right time, or I'm being too picky.

With your last E/U trade on the 4 hr chart, it feels to me like your trade is in the middle of a lot of "traffic", and perhaps the price action you identified, an IB, wasn't really that well defined. On the other hand, I appreciate that with this one, it looks like you are expecting to be in and out like a scalper based on where you put your TP. But compared to your SL, I was wondering about whether your R:R is sufficiently high.

Just some thoughts.
  • #134,076
  • Apr 3, 2015 7:49am Apr 3, 2015 7:49am
Hey guys,

just the result of a trade I made off what I thought was a Pin bar.
Still recovering from some mistakes I made yeterday though (I overtraded, 28 trades for yesterday. I'll do my best not to let that happen again)

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  • #134,077
  • Apr 3, 2015 8:07am Apr 3, 2015 8:07am
Hey Guys,

Another move I saw That turned out ok. EUR/CAD BUOB. I got 42 pips from this.

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  • #134,078
  • Apr 3, 2015 8:32am Apr 3, 2015 8:32am
GBP/CAD - 200+

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GBP/NZD- nice BO - BE now.

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GBP/CHF - 600+ pips locked and still running...

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  • #134,079
  • Apr 3, 2015 9:00am Apr 3, 2015 9:00am
Well done Zamfir and Codekid on those trades. That's what its all about.
There are not enough emoticons to say excellent work
If you think you can or cannot do it you are correct
  • #134,080
  • Apr 3, 2015 11:14am Apr 3, 2015 11:14am
AUDNZD has breached the major support on the monthly chart. I wanted to get on this trade but could not find PA on HTF and finally there was some PA on the hourly chart. The entry is not optimal but wanted to desperately get back into trading so took a less than perfect entry. Expecting a modest 90 pips on this trade.
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