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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

  • #134,401
  • Apr 15, 2015 3:51pm Apr 15, 2015 3:51pm
Hello folks. Can i get some feedback on this trade? GBP/USD H1 PB off resistance. Sell. Trade failed. It looked like a good set up at the time. (Please ignore the sell orders just below green 150 ema). Thanks G.

Attached Image (click to enlarge)
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'Fail to plan, plan to fail'
  • #134,402
  • Apr 15, 2015 3:54pm Apr 15, 2015 3:54pm
Quoting zamfir
Nice trade guitarbloke. CADJPY - quick profit. {image}
'Fail to plan, plan to fail'
  • #134,403
  • Apr 15, 2015 4:46pm Apr 15, 2015 4:46pm
Quoting Guitarbloke
Hello folks. Can i get some feedback on this trade? GBP/USD H1 PB off resistance. Sell. Trade failed. It looked like a good set up at the time. (Please ignore the sell orders just below green 150 ema). Thanks G. {image}
I know this is easier to analyze after-the-fact but I'll make a few observations.

1-Not every pinbar, engulf bar will work. Even less reliable with smaller TFs.
2-I know you can't have everything on your charts but I have NY Open line as it often acts as S/R for that day the 1st time price returns.
3-There was a bit of a S/R flip line just below your pinbar that price was playing with. If you zoom way out on a 1H chart that price has some pretty good history as being important.
4-Another small S/R line was created just below NY Open line so you were shorting into confluence of trouble (NY Open & S/R)

***Just my hindsight view :-)
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  • #134,404
  • Apr 15, 2015 4:54pm Apr 15, 2015 4:54pm
Quoting Guitarbloke
Hello folks. Can i get some feedback on this trade? GBP/USD H1 PB off resistance. Sell. Trade failed. It looked like a good set up at the time. (Please ignore the sell orders just below green 150 ema). Thanks G. {image}

Good trade if you were quick to take profits. Very close support and strong recent demanding uptrend to contend with.

30 min gave a better entry.
Solutions ONLY!!!
  • #134,405
  • Apr 15, 2015 5:00pm Apr 15, 2015 5:00pm
Quoting srt
{quote} I know this is easier to analyze after-the-fact but I'll make a few observations. 1-Not every pinbar, engulf bar will work. Even less reliable with smaller TFs. 2-I know you can't have everything on your charts but I have NY Open line as it often acts as S/R for that day the 1st time price returns. 3-There was a bit of a S/R flip line just below your pinbar that price was playing with. If you zoom way out on a 1H chart that price has some pretty good history as being important. 4-Another small S/R line was created just below NY Open line...

Good analysis. That NY open line thing is a good observation i'll hae to look into it.
  • #134,406
  • Apr 15, 2015 5:04pm Apr 15, 2015 5:04pm
1hr close over the daily open and i'm in...

targeting 119.400
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Solutions ONLY!!!
  • #134,407
  • Apr 15, 2015 5:11pm Apr 15, 2015 5:11pm
Quoting Guitarbloke
Hello folks. Can i get some feedback on this trade? GBP/USD H1 PB off resistance. Sell. Trade failed. It looked like a good set up at the time. (Please ignore the sell orders just below green 150 ema). Thanks G. {image}
This is what I'm looking at. Wouldn't be surprised if this is the bottom. Maybe not.
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  • #134,408
  • Apr 15, 2015 5:23pm Apr 15, 2015 5:23pm
Quoting Donkey
Hi Mike. Can't wait for the trade calls, can't wait to see how it plays out. I love your idea of the email/text blasts as part of the premium service. For those who trade mostly daily with a little 4hr thrown in there will be plenty of time to react - especially for those of us lucky enouugh to be in in your same time zone.
Let me chime in here as well. ANY trade calls that come from an "option" perspective, will absolutely be done only from the Daily and Weekly time frame, so there will be ample time to identify when and where to adjust. Some trades require ZERO adjusting. Open, close, book profit. Here is one such trade that will expire this week that only required one adjustment. Opened on 3.24, adjusted on 3.25, will expire this week on 4.17 for a 2.2% net gain. Nothing flashy, but safe, simple, and profitable.


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  • #134,409
  • Apr 15, 2015 5:38pm Apr 15, 2015 5:38pm
Quoting kevins
{quote} Let me chime in here as well. ANY trade calls that come from an "option" perspective, will absolutely be done only from the Daily and Weekly time frame, so there will be ample time to identify when and where to adjust. Some trades require ZERO adjusting. Open, close, book profit. Here is one such trade that will expire this week that only required one adjustment. Opened on 3.24, adjusted on 3.25, will expire this week on 4.17 for a 2.2% net gain. Nothing flashy, but safe, simple, and profitable. {image}
Hi Kevin,

Do you have a breakdown of approximately what percentage of your trades are option writing, call/put spreads, verticals, calendars, diagonals, etc.....? Just trying to get an idea of what the majority of your trades are.
Looking @ the picture, I'm guessing you sold out-of-money call & put (naked or spreads) on 3.24 then adjusted it on 3.25 as a result of the drop?

Thanks
  • #134,410
  • Apr 15, 2015 5:57pm Apr 15, 2015 5:57pm
Quoting mbqb11
{quote} Hey OP Thanks for dropping a line and the great ideas That was one of the hang ups with ONE of the methods JIm intends to show For example from my standpoint and email/text blast will give ample time. Of course if someone can't get to their computer or trade station in enough time that's on the not me. Here for example is a trade I posted live today, plenty of time and I give my updates with plenty of time. I just intend to relegate that to the premium service in the future. But would only utilize trades where their was at least "some" time...
Hi Mike,

Yes I understand your style of trading leads itself to easily be conducted via email/sms type notification so no problems there.

My comments where more in regards to Jim's trades and until he clarifies as to the trades that will be done via the service I'm a bit reluctant to comment further. Only thing I would say at this point is that in relation to the 45 in a row, I would rather have a few more losses if it meant the winners were larger and the account balance grew more during that period. Suffice to say if the service can delivered and replicated to followers during that period then no more needs to be said from me.

Regards
outapips
If you act surprised, then you probably missed something
  • #134,411
  • Apr 15, 2015 9:30pm Apr 15, 2015 9:30pm
Quoting outapips
{quote} Hi Mike, Yes I understand your style of trading leads itself to easily be conducted via email/sms type notification so no problems there. My comments where more in regards to Jim's trades and until he clarifies as to the trades that will be done via the service I'm a bit reluctant to comment further. Only thing I would say at this point is that in relation to the 45 in a row, I would rather have a few more losses if it meant the winners were larger and the account balance grew more during that period. Suffice to say if the service can delivered...
absolutely outa, we appreciate ALL feedback it's immensely helpful for us always. We think we'll have something for everyone depending on styles and personality types

Thanks again

Mike
  • #134,412
  • Apr 15, 2015 9:31pm Apr 15, 2015 9:31pm
Quoting Donkey
Hi Mike. Can't wait for the trade calls, can't wait to see how it plays out. I love your idea of the email/text blasts as part of the premium service. For those who trade mostly daily with a little 4hr thrown in there will be plenty of time to react - especially for those of us lucky enouugh to be in in your same time zone. That said, what do you think of trading a potential retrace of the huge daily BEOB on GBPCAD. I love the location and momentum on this one and would love to see your thoughts. {image}
bout to get back to you in the PF
  • #134,413
  • Apr 15, 2015 9:31pm Apr 15, 2015 9:31pm
Woke up this morning and what a nice surprise..

CADJPY - Added one more.

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AUDCHF - BE

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  • #134,414
  • Apr 16, 2015 12:33am Apr 16, 2015 12:33am
Quoting srt
{quote} I know this is easier to analyze after-the-fact but I'll make a few observations. 1-Not every pinbar, engulf bar will work. Even less reliable with smaller TFs. 2-I know you can't have everything on your charts but I have NY Open line as it often acts as S/R for that day the 1st time price returns. 3-There was a bit of a S/R flip line just below your pinbar that price was playing with. If you zoom way out on a 1H chart that price has some pretty good history as being important. 4-Another small S/R line was created just below NY Open line...
Thanks SRT, Bill and Compton for your feedback. Food for thought and much appreciated. G
'Fail to plan, plan to fail'
  • #134,415
  • Apr 16, 2015 1:11am Apr 16, 2015 1:11am
Quoting Guitarbloke
Hello folks. Can i get some feedback on this trade? GBP/USD H1 PB off resistance. Sell. Trade failed. It looked like a good set up at the time. (Please ignore the sell orders just below green 150 ema). Thanks G. {image}
Hi Guitar, yes I saw this one in real time too, it looked good but I stayed away. on the 1 hour GBPUSD is trending up, and the trend would have to end with a double top, if the pinbar was going to work out. hope that makes sense. was still worth taking but perhaps with slightly less risk as it is counter trend intra-week. ##

Dan

edit- just saw some of the other posts that highlight the support area close by... cant win them all!
  • #134,416
  • Apr 16, 2015 1:26am Apr 16, 2015 1:26am
Quoting BillYon
1hr close over the daily open and i'm in... targeting 119.400 {image}

Target reached
Pips in my pocket.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 58 KB
Solutions ONLY!!!
  • #134,417
  • Apr 16, 2015 1:43am Apr 16, 2015 1:43am
Quoting BillYon
1hr close over the daily open and i'm in... targeting 119.400 {image}
looking south from here on the close of this current 4hr pin... thoughts?
  • #134,418
  • Apr 16, 2015 1:43am Apr 16, 2015 1:43am
Quoting DanTheFox
{quote} Hi Guitar, yes I saw this one in real time too, it looked good but I stayed away. on the 1 hour GBPUSD is trending up, and the trend would have to end with a double top, if the pinbar was going to work out. hope that makes sense. was still worth taking but perhaps with slightly less risk as it is counter trend intra-week. ## Dan edit- just saw some of the other posts that highlight the support area close by... cant win them all!
Thanks Dan. I recall being a bit tired taking that trade too as it was late here, and i hadn't really assessed the situation as well as i might've, but the market doesn't care about that. Lesson......don't trade when tired or flustered in some way. Appreciate your comments.

Nice trading Zam and Bill. G
'Fail to plan, plan to fail'
  • #134,419
  • Apr 16, 2015 2:00am Apr 16, 2015 2:00am
Quoting DanTheFox
{quote} looking south from here on the close of this current 4hr pin... thoughts?

I personally would not touch it unless it pushed below the daily open

119.145


that's my line in the sand for bias and confirming on the hr

Just me.
Solutions ONLY!!!
  • #134,420
  • Apr 16, 2015 2:01am Apr 16, 2015 2:01am
USD/JPY D1. Looks to be trading in a box like fashion on daily. My S/R level might be a bit different to yours Bill. That 4H pin is probably good for a few pips, but it's also trading into BRN 119.000. I might wait till price falls to bottom of range and look for PA to go long.

EDIT: Sorry Dan. You mean the 4H bullish PB at bottom to go long?

D1 and 4H charts attached below how i see it.

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4H

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'Fail to plan, plan to fail'
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