james16 Chart Thread | Page 6746 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #134,901
  • May 13, 2015 1:02pm May 13, 2015 1:02pm
Quoting mordin
​In this another chart, the highlighted pinbar again indicated to go short, below only 200EMA. It had a good confluence, and yet it failed to go down (I took a loss here, perhaps SL too short?) Why in this case did hold? {image} Thank you very much in advance
This trade did go in your direction, if you entered at the break of the pin bar. Maybe it didn't go for a few hundred pips, but it gave an opportunity to move your stop to entry, and you'd been stopped out without a loss.

PA on the Nzd pairs was a bit crazy lately. Don't be too hard on yourself.
Keep it simple. Trade your plan.

Take Care
Habeeb
Keeping it Simple
  • #134,902
  • May 13, 2015 1:06pm May 13, 2015 1:06pm
Quoting mordin
{quote} Thank you very much for your answer. I rely a little on the MA, because I learned watching some J16 charts and he used them. Perhaps I should give them less priority and more to trend lines and S/R, but here I was in doubt because of the good confluence. And yes, I also have to build more confidence, nearly everyday I let pass some good trades because I lack of confidence. Thanks again!
Not sure if you got the hang of PA yet. If not, try trading with an empty chart. Trade PA alone.
Here's an example:
Attached Image (click to enlarge)
Click to Enlarge Name: #CLM5Weekly.png Size: 42 KB
Keeping it Simple
  • #134,903
  • May 13, 2015 1:09pm May 13, 2015 1:09pm
If the bar is too big, wait for a retrace entry.
Attached Image (click to enlarge)
Click to Enlarge Name: #CLM5H4.png Size: 54 KB
Keeping it Simple
  • #134,904
  • May 13, 2015 1:43pm May 13, 2015 1:43pm
Here's another example. UsdZar
Just showing the PA without considering location, zones, etc.
Have a fixed TP, or take part profit and move SL to entry.
Attached Image (click to enlarge)
Click to Enlarge Name: USDZARDaily.png Size: 57 KB
Keeping it Simple
  • #134,905
  • May 13, 2015 1:46pm May 13, 2015 1:46pm
Here's another. Let's see how it works out.
DAX
Attached Image (click to enlarge)
Click to Enlarge Name: #FDXM5Weekly.png Size: 44 KB
Keeping it Simple
  • #134,906
  • May 13, 2015 3:50pm May 13, 2015 3:50pm
Quoting habeeb
{quote} Not sure if you got the hang of PA yet. If not, try trading with an empty chart. Trade PA alone. Here's an example: {image}
Good stuff as usual Habeeb. New guys would do well to read your posts.
every Saint has a past. Every Sinner has a Future
  • #134,907
  • May 13, 2015 5:53pm May 13, 2015 5:53pm
Quoting Donaciello
{quote} Hey Bud, This pair looks like a prime example of a range-bound / choppy instrument. There is trouble-area's everywhere my eyes can see, so I would really like to see an upward move touch the TL you marked for a third time. That 3rd touch makes the TL 'there' and before that happens, we're left with a choppy pair that show's some support .94 > .9435. {image}
Hi Don,

I totally agree with you about the choppiness of this pair. Not much room to move as trouble everywhere.

I'll stay out of this one for now and just watch and see how things play out.
  • #134,908
  • May 13, 2015 5:56pm May 13, 2015 5:56pm
Quoting fxin
{quote} I like the looks of this one bud. Would love to see now a BEOB close below the BRN on the daily here confirming PA.
Hi fxin,

AUDNZD not giving us the PA we wanted today but there is always tomorrow.

Sitting on my hands and being patient until PA shows us the way.
  • #134,909
  • May 13, 2015 6:11pm May 13, 2015 6:11pm
Hey Bud,

Yeah checked and noticed this morning.. I will join you on that one. Meantime, time to search for other opportunities.Cheers, John.

Quoting bud_fox
{quote} Hi fxin, AUDNZD not giving us the PA we wanted today but there is always tomorrow. Sitting on my hands and being patient until PA shows us the way.
  • #134,910
  • May 13, 2015 8:45pm May 13, 2015 8:45pm
Quoting habeeb
{quote} Not sure if you got the hang of PA yet. If not, try trading with an empty chart. Trade PA alone. Here's an example: {image}
Hi Habeeb, just a question regarding Pinbars — if by trading PA alone on an empty chart and a PB forms, when do we exit to minimise our losses if the PB fails us?
  • #134,911
  • May 13, 2015 11:00pm May 13, 2015 11:00pm
NZDUSD - lol again late on entry. But BE now..

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSDDaily.png Size: 63 KB
  • #134,912
  • May 13, 2015 11:17pm May 13, 2015 11:17pm
USD/CHF H1. BEOVB a few bars back rejecting 0.93000 Daily s/r level and 150 ema. In on retrace. SL to BE. It's a great idea to take a break if you get a thrashing from the market. :nerd:

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFH1.png14515.png Size: 31 KB
'Fail to plan, plan to fail'
  • #134,913
  • May 14, 2015 12:45am May 14, 2015 12:45am
Quoting Fotovinic
{quote} Hi Habeeb, just a question regarding Pinbars if by trading PA alone on an empty chart and a PB forms, when do we exit to minimise our losses if the PB fails us?
Hi Fotovinic,
the SL is placed on the opposite side of the bar you're trading.
See the chart below. The 4hr pin previously formed on GbpAud, SL initially placed below the pin. If you didn't move the SL to entry after it went in your direction you'd be stopped out at your full risk.
You're not going to know if a bar is going to fail, until it actually fails. If you know a pair really well and have developed a feel for it, you might use your discretion to exit early.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDH4.png Size: 30 KB
Keeping it Simple
  • #134,914
  • May 14, 2015 12:52am May 14, 2015 12:52am
GOLD
Nice TL breakout yesterday. Waiting for price to retrace to the trendline, or even deeper to the blue line.
Attached Image (click to enlarge)
Click to Enlarge Name: GOLDDaily.png Size: 53 KB
Keeping it Simple
  • #134,915
  • May 14, 2015 12:56am May 14, 2015 12:56am
Same chart with added spices.
Attached Image (click to enlarge)
Click to Enlarge Name: GOLDDaily1.png Size: 59 KB
Keeping it Simple
  • #134,916
  • May 14, 2015 2:31am May 14, 2015 2:31am
Quoting habeeb
{quote} Hi Fotovinic, the SL is placed on the opposite side of the bar you're trading. See the chart below. The 4hr pin previously formed on GbpAud, SL initially placed below the pin. If you didn't move the SL to entry after it went in your direction you'd be stopped out at your full risk. You're not going to know if a bar is going to fail, until it actually fails. If you know a pair really well and have developed a feel for it, you might use your discretion to exit early. {image}
Thank you Habeeb, your explanation was crisp and clear. Cheers!
  • #134,917
  • May 14, 2015 4:57am May 14, 2015 4:57am
Went long upon seeing this PB rejecting RN 119. Is this what we call an A+ setup?

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY.jpg Size: 523 KB
  • #134,918
  • May 14, 2015 5:46am May 14, 2015 5:46am
GbpNzd
Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZDDaily.png Size: 23 KB
Keeping it Simple
  • #134,919
  • May 14, 2015 6:03am May 14, 2015 6:03am
Quoting Guitarbloke
It's a great idea to take a break if you get a thrashing from the market. :nerd: {image}
Hey welcome back GB - I thought you'd abandoned us. Your break coincided with it getting a bit quiet around here generally and I thought my PC was broken or something

Hope you only got a virtual thrashing. You're on demo right ? I've started on smallest real money amounts and its early days but developing a healthy attitude to losses is a massive part of the trading challenge for me. In fact, I think it is the biggest issue for me right now because it can mess with your head if you let it. Reading about trading psychology is one thing but I guess you also have to live through it.

Right now, I'm focusing on the realisation that losses are a reality, a cost of doing business and the price you pay for some valuable lessons. But at the same time, I'm trying to discriminate between "good" losses (where I followed my trade plan based on what I'm learning from J16, where I critically analysed the trade opportunity before entering, etc) and "bad" losses (where I just saw some random thing on the charts and "went for it").

What I'm realising is that I have a bad habit of getting distracted by big moves and trying to call a top - the classic standing in front of the train thing. I have no idea why, because I know that this type of trading creates stress, doesn't have any reasonable basis and pretty much always ends with a loss. It's not even part of my actual plan to trade like that, and I don't enjoy it. It's just a thing that I tend to do, and I plan on stopping that. I guess its an ego thing, partly a patience thing, and I'm also finding out that staying focused on the real game plan takes a lot of discipline that I still need to develop.

Anyway, good to see you (and everyone else) back.
  • #134,920
  • May 14, 2015 6:47am May 14, 2015 6:47am
Quoting habeeb
Here's another. Let's see how it works out. DAX {image}
update chart:
Attached Image (click to enlarge)
Click to Enlarge Name: #FDXM5Weekly.png Size: 48 KB
Keeping it Simple
39 traders viewing now