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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

  • #134,781
  • May 3, 2015 3:11pm May 3, 2015 3:11pm
Quoting Guitarbloke
{quote} Hello Kershey. If I can offer my beginner analysis on your trades. Something stands out to me here in your entries. You look to be going bullish when PA is bearish on Gold. I think you were stopped out in these trades mainly because you weren't trading short from a swing high, or long from a swing low. I have learnt this with my own trading. My odds are increased hugely when I trade short from swing high, and long from a swing low, instead of in the middle in 'no mans land'. Just my simple observations friend. Stick with it. I am reading...


Hello Guitarbloke, I appreciate your comments. Maybe you can point out on an example what you understand by
" trade short from swing high, and long from a swing low".

Below I posted my trades from the last 2 weeks with entry comments.
5 trades and 5 loosers in a row, roughly minus 10 percent, which was very frustrating.
Attached Image(s) (click to enlarge)
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  • #134,782
  • May 3, 2015 4:04pm May 3, 2015 4:04pm
Quoting Kershey
{quote} Hello Guitarbloke, I appreciate your comments. Maybe you can point out on an example what you understand by " trade short from swing high, and long from a swing low". Below I posted my trades from the last 2 weeks with entry comments. 5 trades and 5 loosers in a row, roughly minus 10 percent, which was very frustrating. {image} {image} {image} {image} {image}
Hey Kershey

I wanted to go through each of your trades here because they are things that will help improve you for the future. I know I haven't been jumping in here as much as usual

gbp/usd - The only valid type of trade here was the short on gbp/usd. One must have played a pullback on this one to the BRN and by time price breaks the pinbar low we want to be at least to b/e. This is because it's a rather small bar in traffic where price looks more like it is "pausing" at the BRN rather than strong selling. We want to be the sellers at the strongest area here. I've attached here a clip from my webinar a few weeks ago where I discuss this bar Please watch this clip for better details
Inserted Video



bund- this is not a pinbar. Notice the "tail" and body are about the same size here. It's a very short stubby pause bar. While it shows a "bounce" at the TL it doesn't give us any sort of reason that price should continue higher. If you had a much larger nose here i would say that's a very valid area to then look for longs. you have to be very picky with your story and bars otherwise you will find too many so-so areas.

euro50 - again I am glad you are trying to formulate stories around your bars. This is good but don't forget some of the very basics until you can get a better foundation. This is a buob not at a swing low but in a very sideways box. You are trading a buob that closed right on the PPZ formed by the previous box. So you actually had price close under and confirm up this area as resistance. Not until price can close ABOVE an area like this do we want to go long. This is a perfect example of how new traders get caught in sideways markets.
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gold- this is very similar to th above. It's actually a netural bar(open and close near middle of bar with equal tails). And you are trading in a boxed market. Don't let a daily bar be the guide where you then drop down and take any PA bar that confirms your daily PA. Your PA bar needs to be taken in the context of the timeframe you trade off. Dropping down is VERY difficult to do and gets people into trouble. Notice I outline the box of consolidation on the 4hr. The midpoint of ALL boxes is a PPZ. That neutral bar like the euro50 closed under this area confirming it as resistance till we can get above it
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eurnok.- this is very similar to the above 2 also. So a big key for you to take away from this is be aware of where your bar closes are in relationships t major s/r and boxing. This is a pinbar with no space(see my video space vs traffic). So if we look we can see a larger PPZ just under this pinbar. So we would be trading right into this area. New traders should focus on bars with good space they are easier to trade. The actual best trade here was that 4hr BUOB closing just above your TLand PPZ. That's a beauty. Again continuation and breakout plays I find newer traders have trouble taking though too.
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Again great learning trades and just stick to demo till you can hash on some of these concepts and it gets easier over time.

Best
Mike
  • #134,783
  • May 3, 2015 4:10pm May 3, 2015 4:10pm
Hi everybody,

I've been going over the Russel2000 and ended up with the following setups:

DIN:
Attached Image

A big BEOB at $100. It broke out of a very consolidated area and closed way under $100.
I've drawn on the chart where I'd go for a retrace-entry.
As $95 is touched again, it's time to move to break-even, or just worse ( behind the retracing bar).


TREE:
Attached Image

A big BEOB at swing high. A lot of closes around $56, which is why I opted for a retrace-entry there.

Here's the Monthly chart for TREE:
Attached Image

It seems to add confluence to the bearish picture and provides for a good area to reduce risk going into the position (Left eye of the monthly pin).


I'd be glad to hear what you all think of these and other setups you may have found.

Best,
Donaciello
It's a sport, an artform and a science.
  • #134,784
  • May 3, 2015 6:40pm May 3, 2015 6:40pm
Hi everyone,

Currently looking at USD/CHF to get in soon. It's a small pin but it's at a nice round number; 0.93.
When looking back the past shows that provided some level of support. I'm thinking of going long here.

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  • #134,785
  • May 3, 2015 7:26pm May 3, 2015 7:26pm
Quoting codekid
Hi everyone, Currently looking at USD/CHF to get in soon. It's a small pin but it's at a nice round number; 0.93. When looking back the past shows that provided some level of support. I'm thinking of going long here. {image}
Hi Codekid,

I would like to give you my chart for this pair.
Personally I don't think this is the best opportunity to ga long.
The pinbar does not have a long wick, nor does it close strongly.
I'm not saying it won't rise; my chart certainly indicates some space until a stronger area.

Attached Image (click to enlarge)
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It's a sport, an artform and a science.
  • #134,786
  • Edited 3:05am May 4, 2015 2:00am | Edited 3:05am
AUD/JPY H4. Short on IB BEOVB combo breaking out from daily/weekly SR level. See how she goes.

Attached Image (click to enlarge)
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EUR/GBP H4 Sell PB/IB Combo off key level at swing high.

EDIT: Bang! 1st target hit. BE. Free trade and going for gold.

Attached Image (click to enlarge)
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'Fail to plan, plan to fail'
  • #134,787
  • Edited 4:37am May 4, 2015 2:06am | Edited 4:37am
USD/CHF H4. DBLHC (2.5 pips out). 1st target and TA hit. BE. Free trade. See if she pushes through.

Attached Image (click to enlarge)
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EUR/USD H4 BEOVB. Order set at break of bar triggered.

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

Attached Image (click to enlarge)
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EUR/JPY H4. Sell limit set for if/when retrace on this BEOVB. Note there are 2 of them. 1st. at swing high, 2nd bar I am trading as it has broken and closed below key S/R/ level and BRN 134.000.

EDIT: trade triggered on retrace.

Attached Image (click to enlarge)
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'Fail to plan, plan to fail'
  • #134,788
  • May 4, 2015 4:23am May 4, 2015 4:23am
Quoting Guitarbloke
AUD/JPY H4. Short on IB BEOVB combo breaking out from daily/weekly SR level. See how she goes. {image} EUR/GBP H4 Sell PB/IB Combo off key level at swing high. EDIT: Bang! 1st target hit. BE. Free trade and going for gold. {image}
Hey GB,

Glad to see you pick up the material quickly and with so much enthousiasm!
I think many of us remember the "eye-opening" moment, when the strength of pinbars/OB's and strong locations really dawn on you.

Please take note however of the underlying correlation to the trades you mentioned.

USD/CHF (Long) is mostly USD biased.
EUR/USD (Short) is also USD correlated and makes for about 50% of the USDx basket.
EUR/JPY (Short) is another EUR-short
EUR/GBP (Short) is another EUR-short

Also, I think trying to filter out only those bars that are BIG, can add to your pickyness, which in turn may add to your accuracy and confidence.

Best of luck to you,

Donaciello.
It's a sport, an artform and a science.
  • #134,789
  • May 4, 2015 10:15am May 4, 2015 10:15am
Quoting Donaciello
{quote} Hi Codekid, I would like to give you my chart for this pair. Personally I don't think this is the best opportunity to ga long. The pinbar does not have a long wick, nor does it close strongly. I'm not saying it won't rise; my chart certainly indicates some space until a stronger area. {image}
I don't really trade CHF pairs anymore, but looking at that descending Trend line and the strong previous support, likely resistance area you have highlighted certainly makes for a nice watch area. They look to possibly intersect at BRN 0.9500 which would make that area even more confluenced....a really great place to look for shorts.
  • #134,790
  • May 4, 2015 10:48am May 4, 2015 10:48am
Hi all,

My first trade in this week , wait to cross FTA with nice PA..

Adhav
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  • #134,791
  • May 4, 2015 11:21am May 4, 2015 11:21am
Quoting Donaciello
{quote} Hi Codekid, I would like to give you my chart for this pair. Personally I don't think this is the best opportunity to ga long. The pinbar does not have a long wick, nor does it close strongly. I'm not saying it won't rise; my chart certainly indicates some space until a stronger area. {image}
Thanks Donaciello and Donkey for the input, it makes sense.
I decided not to take the trade and just watch what happens.
I was just looking for a long trade I must have blocked out the lower highs. I'll be keeping an eye on this and see where it goes.

This is the moevement so far.

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  • #134,792
  • May 4, 2015 12:02pm May 4, 2015 12:02pm
Quoting Adhavan
Hi all, My first trade in this week , wait to cross FTA with nice PA.. Adhav {image}
What is the price action signal for entry Adhavan please?
  • #134,793
  • May 4, 2015 12:16pm May 4, 2015 12:16pm
Quoting mbqb11
{quote} Hey Kershey I wanted to go through each of your trades here because they are things that will help improve you for the future. I know I haven't been jumping in here as much as usual gbp/usd - The only valid type of trade here was the short on gbp/usd. One must have played a pullback on this one to the BRN and by time price breaks the pinbar low we want to be at least to b/e. This is because it's a rather small bar in traffic where price looks more like it is "pausing" at the BRN rather than strong selling. We want to be the sellers at the...
mike that was awakening! watch the video 5 times and will watch it more. thanks
  • #134,794
  • May 4, 2015 12:44pm May 4, 2015 12:44pm
hi guys,
took USD/CAD weekly pin at retrace to left eye. i only take break of pin because its more safe, but this one seems better in retrace. as usual there are some thought coming to my head after pulling the trigger!!

1- it closed under BRN 1.22
2- The candle is bearish( close is under open)
what do u think guys? does anyone took that?
thanks
Attached Image (click to enlarge)
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  • #134,795
  • May 4, 2015 1:26pm May 4, 2015 1:26pm
Quoting Reza.glm
hi guys, took USD/CAD weekly pin at retrace to left eye. i only take break of pin because its more safe, but this one seems better in retrace. as usual there are some thought coming to my head after pulling the trigger!! 1- it closed under BRN 1.22 2- The candle is bearish( close is under open) what do u think guys? does anyone took that? thanks {image}
tHi, I'm currently waiting for it to break
Slow & steady
  • #134,796
  • May 4, 2015 1:43pm May 4, 2015 1:43pm
Quoting ontoast
{quote} What is the price action signal for entry Adhavan please?
Hi On toast,

I am waiting for to enter. ..

Adhav
  • #134,797
  • May 4, 2015 2:26pm May 4, 2015 2:26pm
Quoting patapouer
{quote} tHi, I'm currently waiting for it to break
thanks for your reply patapouer , i think i rushed into this trade . if daily close under 1.21 BRN i take a small loss and enter on break. good luck
  • #134,798
  • May 4, 2015 4:51pm May 4, 2015 4:51pm
Quoting Reza.glm
hi guys, took USD/CAD weekly pin at retrace to left eye. i only take break of pin because its more safe, but this one seems better in retrace. as usual there are some thought coming to my head after pulling the trigger!! 1- it closed under BRN 1.22 2- The candle is bearish( close is under open) what do u think guys? does anyone took that? thanks {image}
Hey Reza

After watching my webinar excerpt you can see that you did the right thing here on the usd/cad. In my view the only true place to buy is on a retrace. When we think about the story of this bar we have not much to base it on but that last small point of Support(left eye). You did exactly what you should do IF you choose to play this bar. Again I would want to see a stronger story but that is also trader dependent too.

I'm glad the video helped and this is the same type of concept as in the video

Best
Mike
  • #134,799
  • Edited 8:15pm May 4, 2015 7:00pm | Edited 8:15pm
Quoting Donaciello
{quote} Hey GB, Glad to see you pick up the material quickly and with so much enthousiasm! I think many of us remember the "eye-opening" moment, when the strength of pinbars/OB's and strong locations really dawn on you. Please take note however of the underlying correlation to the trades you mentioned. USD/CHF (Long) is mostly USD biased. EUR/USD (Short) is also USD correlated and makes for about 50% of the USDx basket. EUR/JPY (Short) is another EUR-short EUR/GBP (Short) is another EUR-short Also, I think trying to filter out only those bars that...
Thanks Donaciello. Right on. My eye opening moment was about 6 months ago realising the power of trading short from a swing high, and long from a swing low if strong PA is present. I'd mostly been flapping around trying to trade continuation patterns before then. Swing high/low to me = better strike rate.

Appreciate the vid and your comments Mike.

Whilst a couple of my trades are currently flapping in the breeze, I'm encouraged to see this one below kicking goals. Profit locked in. Trailing stop manually and letting it run. Anyone still in this?

GBP/CAD H4.

Attached Image (click to enlarge)
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XAG/USD Silver. H4 PB sell order set for if/when retrace to left eye.

Attached Image (click to enlarge)
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'Fail to plan, plan to fail'
  • #134,800
  • May 4, 2015 8:06pm May 4, 2015 8:06pm
Quoting Guitarbloke
{quote} Whilst a couple of my trades are currently flapping in the breeze, I'm encouraged to see this one below kicking goals. Profit locked in. Trailing stop manually and letting it run. Anyone still in this? GBP/CAD H4. {image}
Hi GB,
Gcad
I see bullish divergence at H1
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