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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

  • #134,521
  • Apr 21, 2015 5:45pm Apr 21, 2015 5:45pm
Quoting fxin
{quote} Hi GB, Would you mind explaining a little bit of your analysis behind this trade please? Many thanks John
Hey John. This pair had recently rejected 0.77000 area combined with the BEOVB of 17th April a few bars back which i consider to still be a valid signal as that bar has not been broken/breached higher as yet. I was also alerted to a possible reversal at this level by a doji formed on the H1 chart a few bars back. This was my simple analysis. There is strong resistance above which is probably stopping this upward moving pair from going higher. Maybe not the best pair to trade at present.
'Fail to plan, plan to fail'
  • #134,522
  • Apr 21, 2015 6:00pm Apr 21, 2015 6:00pm
Quoting Guitarbloke
{quote} Hey John. This pair had recently rejected 0.77000 area combined with the BEOVB of 17th April a few bars back which i consider to still be a valid signal as that bar has not been broken/breached higher as yet. I was also alerted to a possible reversal at this level by a doji formed on the H1 chart a few bars back. This was my simple analysis. There is strong resistance above which is probably stopping this upward moving pair from going higher. Maybe not the best pair to trade at present.
Nice. Thanks GB. Appreciated.
  • #134,523
  • Edited 7:14pm Apr 21, 2015 6:07pm | Edited 7:14pm
OIL. H1. Long. PB rejecting 150 ema. Experimental trade checking the power (or not) of a PB off this ema.

EDIT: Closed trade at BE. In conflict with direction of other open trades. doh!

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'Fail to plan, plan to fail'
  • #134,524
  • Apr 21, 2015 6:56pm Apr 21, 2015 6:56pm
Quoting Guitarbloke
USD/CHF M30. Surely it can't be this simple?! PB rejecting BRN 0.9600 level and 365 ema. See how she goes. {image}
Simple? Yes. Easy? Noooo. Nice move down. Missed current up move. Order set for if/when retrace.

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'Fail to plan, plan to fail'
  • #134,525
  • Apr 21, 2015 11:48pm Apr 21, 2015 11:48pm
Markets have been slow past two days. Not much news.

AUDCAD finally moved - BE now.

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  • #134,526
  • Edited 2:43am Apr 22, 2015 12:22am | Edited 2:43am
EUR/NZD H4. BEOVB rejecting 1.4000 level.

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EDIT: 1st target hit. profit taken. BE. Free trade.

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'Fail to plan, plan to fail'
  • #134,527
  • Apr 22, 2015 5:42am Apr 22, 2015 5:42am
EUR/USD H1. A bit of nifty trade management has allowed me to stay in this trade for now. Caught the price turn around bang on 1.8000 key level. Price is pretty frisky right now so be careful out there. Could go either way. See how she goes.

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'Fail to plan, plan to fail'
  • #134,528
  • Edited 6:28am Apr 22, 2015 5:50am | Edited 6:28am
USD/CHF H1. Long off retrace to key support level and break above previous bar.

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EDIT: 1st target hit. BE. Free trade.

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'Fail to plan, plan to fail'
  • #134,529
  • Apr 22, 2015 6:48am Apr 22, 2015 6:48am
EUR/USD H1. 1st target hit. BE free trade from here. About time for price to take off i reckon.

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'Fail to plan, plan to fail'
  • #134,530
  • Apr 22, 2015 7:02am Apr 22, 2015 7:02am
Quoting Guitarbloke
EUR/USD H1. 1st target hit. BE free trade from here. About time for price to take off i reckon. {image}
Hi,
In situations like this, when you martingale, why not set SL for both orders in the middle of their enty levels (around 1.0600) = BE for both trades?
Im in a trade, eurusd, that looks pretty much the same :-/
  • #134,531
  • Apr 22, 2015 8:00am Apr 22, 2015 8:00am
Quoting kanonmicke
{quote} Hi, In situations like this, when you martingale, why not set SL for both orders in the middle of their enty levels (around 1.0600) = BE for both trades? Im in a trade, eurusd, that looks pretty much the same :-/
Hey Kan. Thanks for your question. Not sure if i'm understanding you fully, but i set 2 orders. 1st order takes profit when it hits first trouble area/traffic. Then i move to BE. From there, free trade, but.....no matter what, i've banked appx 30 pips profit. Then, the idea is that the 2nd order will go for gold and bring the veggies home. Like the trade i'm in right now below. Not sure if that answers your question friend? Best wishes, G.
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'Fail to plan, plan to fail'
  • #134,532
  • Apr 22, 2015 8:16am Apr 22, 2015 8:16am
Quoting Guitarbloke
{quote} Hey Kan. Thanks for your question. Not sure if i'm understanding you fully, but i set 2 orders. 1st order takes profit when it hits first trouble area/traffic. Then i move to BE. From there, free trade, but.....no matter what, i've banked appx 30 pips profit. Then, the idea is that the 2nd order will go for gold and bring the veggies home. Like the trade i'm in right now below. Not sure if that answers your question friend? Best wishes, G. {image}
ok, I understand.
I was just looking at your eurusd where you had a sell order that went wrong and you put in another sell order (as it looks like on the chart). The way eurusd has gone the past hour I guess you are out of that trade successfully.

I like your trade setups. Your last example usdchf was nice.

I have been programming EA's for a while but I always seem to get back to this forum and the PA strategy trading manually. Pretty hard to code a PA EA.
  • #134,533
  • Apr 22, 2015 8:33am Apr 22, 2015 8:33am
AUD/CAD H1. Trading straight into BRN level 1.9500. with down trend. Would you take it? Lets see how she goes.

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'Fail to plan, plan to fail'
  • #134,534
  • Apr 22, 2015 8:37am Apr 22, 2015 8:37am
CHF pairs moving. Was away so could not catch them. Easy pips , Guitar good job mate..

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  • #134,535
  • Edited 8:55am Apr 22, 2015 8:41am | Edited 8:55am
Quoting kanonmicke
{quote} ok, I understand. I was just looking at your eurusd where you had a sell order that went wrong and you put in another sell order (as it looks like on the chart). The way eurusd has gone the past hour I guess you are out of that trade successfully. I like your trade setups. Your last example usdchf was nice. I have been programming EA's for a while but I always seem to get back to this forum and the PA strategy trading manually. Pretty hard to code a PA EA.
PA is the way to go for me. I prefer to learn how to fish, rather than being handed the fish lol. I was/am still in on EUR/USD. as mentioned in previous post, i had to attend to some creative trade management. It was further risk that was within my trading plan, so i was comfortable to do that. If i was away from computer, yes, i would've been stopped out. Greg.
'Fail to plan, plan to fail'
  • #134,536
  • Apr 22, 2015 8:44am Apr 22, 2015 8:44am
Quoting zamfir
CHF pairs moving. Was away so could not catch them. Easy pips , Guitar good job mate.. {image} {image}
Thanks Zam. Yes, plenty of pips to be had. And also lost if we're not careful. G
'Fail to plan, plan to fail'
  • #134,537
  • Apr 22, 2015 10:08am Apr 22, 2015 10:08am
It would be great to see a couple of live trades from Jim and Mike. Does anyone agree? C'mon old timers!. . ​
'Fail to plan, plan to fail'
  • #134,538
  • Apr 22, 2015 10:12am Apr 22, 2015 10:12am
Quoting Guitarbloke
It would be great to see a couple of live trades from Jim and Mike. Does anyone agree? C'mon old timers!. . ​
Would be amazing for some of us new guys on that note anyone got an opinion on NZDUSD daily chart?
  • #134,539
  • Edited 10:57am Apr 22, 2015 10:41am | Edited 10:57am
Quoting yorkshirelad
{quote} Would be amazing for some of us new guys on that note anyone got an opinion on NZDUSD daily chart?
Yep. Jim and Mike, lets see some real time trades! If your students are doing it here, so can you.

YL. That pair looks problematic at the moment. I am staying away until PA shows me where it wants to go.
'Fail to plan, plan to fail'
  • #134,540
  • Apr 22, 2015 12:16pm Apr 22, 2015 12:16pm
Quoting Guitarbloke
{quote} Yep. Jim and Mike, lets see some real time trades! If your students are doing it here, so can you. YL. That pair looks problematic at the moment. I am staying away until PA shows me where it wants to go.
Hey GB

I know we got a lot of new folks here but generally I like to keep this thread new trader oriented when I can. Of course you can back track my posts as I do post live trades here from time to time(one a week or so ago here) but the majority of my trades I will only post in the PF since that's where I can spend most of my time

Also be sure to check out our youtube channel where I have posted live trade videos like the ones I put up in the PF
https://www.youtube.com/user/J16group

I haven't been around this thread much and I do apologize guys but my gf is on here 3rd retinal detachment in 6weeks so any free time is in the private side . Here is a trade from monday I posted there

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I appreciate other folks jumping in to help our new traders

Mike
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