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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

  • #134,661
  • Apr 27, 2015 11:09pm Apr 27, 2015 11:09pm
Quoting Guitarbloke
AUD/USD H4. IB off resistance/swing high. Some new tyres for the corolla? {image}
lol good taste in cars. just bought a whole new set for my corolla not long ago
  • #134,662
  • Apr 28, 2015 12:50am Apr 28, 2015 12:50am
Quoting Guitarbloke
Hey Ontoast. You are correct partly. I set 2 orders. My RR on the first target is often around 1:1 but sometimes it is more risk. My RR on the whole trade is always at least 2:1 +. I am always looking to lower my risk where I can though. My current approach may be a little risky, but I'm trying a few techniques out. Not comfortable with my method just yet and still a work in progress. Thanks for your comments and all the best. G.
Keep it up then and good luck refining your system.
  • #134,663
  • Apr 28, 2015 1:13am Apr 28, 2015 1:13am
Quoting fxin
{quote} lol good taste in cars. just bought a whole new set for my corolla not long ago
Reliable cars, but for me it looks like new tyres will have to wait. AUD/USD stopped out for a loss. Will watch to see which way PA wants to go. It has closed above previous resistance, so may continue up, or turn around as price still hasn't taken out previous swing high on the daily. Interested to see what will happen around 0.79000 level.

Thanks Ontoast. All the best to ya. G
'Fail to plan, plan to fail'
  • #134,664
  • Apr 28, 2015 1:25am Apr 28, 2015 1:25am
Im more of a german car fan, get my new VW Golf TSI on Thursday nothing like the smell of a new motor
  • #134,665
  • Edited 3:32am Apr 28, 2015 2:24am | Edited 3:32am
GBP/USD H4. Long IB off support.

EDIT: Stopped out. Looks like main trend still down.

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'Fail to plan, plan to fail'
  • #134,666
  • Apr 28, 2015 2:26am Apr 28, 2015 2:26am
Quoting yorkshirelad
Im more of a german car fan, get my new VW Golf TSI on Thursday nothing like the smell of a new motor
Or an old one that's burning oil!
'Fail to plan, plan to fail'
  • #134,667
  • Apr 28, 2015 4:46am Apr 28, 2015 4:46am
GBP/JPY - nothing going on here but thought I'd throw up it's chart that I felt was interesting because price is approaching the downward trendline on the 4hr/Daily, which intersects with an old PPZ which was more relevant on the weekly chart going way back, less so on the daily.

Still, there isn't any price action revealing itself at this level so far today but perhaps there will be over the next couple of days or so, especially if buyers remorse kicks in on GBP later in the week.

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  • #134,668
  • Apr 28, 2015 7:00am Apr 28, 2015 7:00am
OIL. Break out of trend line. it's meant to head down isn't it? Geez they work well. Losing pips on that strategy, so closed trade and went long. Opposite of what trend line indicates.

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'Fail to plan, plan to fail'
  • #134,669
  • Edited 7:23am Apr 28, 2015 7:09am | Edited 7:23am
GBP/USD H4. Trend looks up to me. Close and break out above resistance level. Watch this one turn around and reverse 100 pips!

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'Fail to plan, plan to fail'
  • #134,670
  • Apr 28, 2015 7:43am Apr 28, 2015 7:43am
Jap Cars for me, own an GTR R35.
  • #134,671
  • Apr 28, 2015 8:18am Apr 28, 2015 8:18am
NZDJPY - moving my way...

pips locked.

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  • #134,672
  • Apr 28, 2015 8:29am Apr 28, 2015 8:29am
Some nice trading there guys, i got chewed up today. Oh well all learning.
  • #134,673
  • Apr 28, 2015 8:34am Apr 28, 2015 8:34am
Quoting yorkshirelad
Some nice trading there guys, i got chewed up today. Oh well all learning.
Stick with it my man, been here over 4 years now, time and patience and you will come out the other side with your trades looking like this.
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  • #134,674
  • Apr 28, 2015 9:08am Apr 28, 2015 9:08am
Quoting yorkshirelad
Some nice trading there guys, i got chewed up today. Oh well all learning.
me too, four trades, four losers... I'm starting to pay more attention to price action, because I was paying too much attention to the TDI, and obtaining decent results one week, and then lose a lot next two weeks, and so on. I started a demo account with 50000 and it is now on 40000.

I did some backtesting, going step by step on mt4 (F12 key) to avoid seeing "the future" and most times my analysis is good, but then when it comes to real trading I mess up everything, don't know exactly why.

It's so frustrating, but I'm not giving up, I know that with trading I can achieve the lifestyle and freedom I want.
Had to be me. Someone else might have gotten it wrong.
  • #134,675
  • Edited 5:29pm Apr 28, 2015 5:18pm | Edited 5:29pm
Sometimes it's necessary to take a couple of days break from trading after losses then come back fresh with a clearer head. I know that helps me.

Nice one Dean. FP. GBP/JPY could be heading higher still. I wish I stayed in that one, but price took me out at BE with a small profit at least, as per my current strategy.

AUD/CAD D1 at a key level/zone.

QUESTION: Does anyone have any comments how they'd play this one and what you'd be looking for? Thanks. G

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'Fail to plan, plan to fail'
  • #134,676
  • Apr 28, 2015 5:25pm Apr 28, 2015 5:25pm
Quoting deankenny21
Jap Cars for me, own an GTR R35.
Stylin!
'Fail to plan, plan to fail'
  • #134,677
  • Apr 28, 2015 5:53pm Apr 28, 2015 5:53pm
AUD/USD D1. Keeping a close eye on this pair. If strong bearish PA occurs, i'll look to get in.

Fiber is also fast approaching key PPZ 1.1000. I will be watching also for strong bearish PA. Potential opportunities afoot.

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'Fail to plan, plan to fail'
  • #134,678
  • Apr 28, 2015 7:26pm Apr 28, 2015 7:26pm
AUD/JPY H1. IB Breakout. see how she goes.

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'Fail to plan, plan to fail'
  • #134,679
  • Apr 28, 2015 8:08pm Apr 28, 2015 8:08pm
Quoting Guitarbloke
AUD/JPY H1. IB Breakout. see how she goes. {image}
Hopefully not too far, I'm holding a very nice position long on this currently
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  • #134,680
  • Apr 29, 2015 3:16am Apr 29, 2015 3:16am
Quoting Guitarbloke
Sometimes it's necessary to take a couple of days break from trading after losses then come back fresh with a clearer head. I know that helps me. Nice one Dean. FP. GBP/JPY could be heading higher still. I wish I stayed in that one, but price took me out at BE with a small profit at least, as per my current strategy. AUD/CAD D1 at a key level/zone. QUESTION: Does anyone have any comments how they'd play this one and what you'd be looking for? Thanks. G {image}
The weekly shows me clear triangle... I entered alredy last prew week, but the last pinbar is mutch better.
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