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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

  • #135,361
  • Jun 12, 2015 8:28am Jun 12, 2015 8:28am
Quoting FXBat
{quote} Hi Zamfir, i've noticed on the trades you post that most of the time the trade goes in your favor right after the breakout of the PA. Do you take this as a major factor to stay in the trade? I mean, if you see the pair mumbling around the entry or going against you, you exit early (cut your losses short ) or you wait to hit your stop? Thanks in advance...
No, i let the trade workout after the bar confimation, even if its mumbling around. Sometimes you get a nice PA confirmation at the end of the day and price moves the next day during london/newyork session.
  • #135,362
  • Jun 12, 2015 9:48am Jun 12, 2015 9:48am
CHF pairs finally moving.

CAD/CHF

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CHF/JPY

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  • #135,363
  • Jun 12, 2015 10:50am Jun 12, 2015 10:50am
Quoting zamfir
{quote} No, i let the trade workout after the bar confimation, even if its mumbling around. Sometimes you get a nice PA confirmation at the end of the day and price moves the next day during london/newyork session.
This is a fine example for your query. We got the BUOB yesterday and i placed the order after i saw the BUOB. Today whole day it was mumbling around my entry price and now we have a breakout from the entry.

GBP/USD - BE.

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  • #135,364
  • Jun 12, 2015 11:00am Jun 12, 2015 11:00am
Hello zamfir,

I really like to learn from this thread and I have some questions to you about CHFJPY.

1) The daily level I plotted on the chart was about 30 pips lower than the low of the pullback where you went long. Can you tell me why you went long there because there was no touch of the line?

2) I see that you didn't wait for the inside daily bar but you went long before. Was there a setup on the H4 or H1?

3) I noticed that you move your stoploss early to breakeven. Is it after a certain amount of pips or how to you decide when to move the stoploss to breakeven?

Thank you very much for answering these questions! It helps me a lot in my learning process.
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  • #135,365
  • Jun 12, 2015 11:11am Jun 12, 2015 11:11am
Quoting desco
Hello zamfir, I really like to learn from this thread and I have some questions to you about CHFJPY. 1) The daily level I plotted on the chart was about 30 pips lower than the low of the pullback where you went long. Can you tell me why you went long there because there was no touch of the line? 2) I see that you didn't wait for the inside daily bar but you went long before. Was there a setup on the H4 or H1? 3) I noticed that you move your stoploss early to breakeven. Is it after a certain amount of pips or how to you decide when to move the stoploss...
I don't know about your feed, but on my feed i had a PPZ at 131.50 and my entry was @ 131.85. On my feed price touched 131.51 and retraced.

Question as to why the entry without any PA confirmation , well lets see what we have here

1. we are in uptrend. you can draw TL if you want further confirmation, but the trend is clear.
2. we broke out of the 131.50 and price was doing a pullback to this area.
3. we have 50% fib retrace in confluence with the 131.50 PPZ.

Wouldn't you say there is a 90% chance that 131.50 would hold and it did and now it gave a IB as further confirmation so we can break even. No targets on this one yet as we are trending and we ride as much as we can managing our SL.
  • #135,366
  • Jun 12, 2015 11:30am Jun 12, 2015 11:30am
here is one from me this week, was a choppy market this week so nice to get some back

This was an 8hr pinbar after price broke down and came and snapped back above a strong support area. I call them fakey breakouts and they are money


Enjoy the weekend all

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  • #135,367
  • Jun 12, 2015 11:48am Jun 12, 2015 11:48am
Quoting zamfir
EUR/GBP - BEOB signalling the Breakout. BE now. {image}
Hi Zamfir,

Your GBPUSD entry was look very nice and impressive to me. .I would like ask something about your trade. .

I am very much inmpressed about your entry location and your confident level while price mumbling. ..

1.your consider the buob right below the earlier daily resistance area 1.55562
2. After your entry price hold and formed a strong BEOVB but at resistance area, but you still keep position open. .
3. I noticed one thing is,your at 50% ret and while price mumbling, it not closed below 38.2%..
4. Even fib support for your favour, main key factor S/R and PA are against you. ..

Thank in Advance.

Adhav
  • #135,368
  • Jun 12, 2015 11:49am Jun 12, 2015 11:49am
Quoting zamfir
{quote} I don't know about your feed, but on my feed i had a PPZ at 131.50 and my entry was @ 131.85. On my feed price touched 131.51 and retraced. Question as to why the entry without any PA confirmation , well lets see what we have here 1. we are in uptrend. you can draw TL if you want further confirmation, but the trend is clear. 2. we broke out of the 131.50 and price was doing a pullback to this area. 3. we have 50% fib retrace in confluence with the 131.50 PPZ. Wouldn't you say there is a 90% chance that 131.50 would hold and it did and now...
Thank you for the fast answer! Obviously I have to re-view my PPZs. I placed it 25 pips lower and so it wasn't touched. And therefore I didn't look for an entry. For the moment I stick to trades which are confirmed by a PA signal because I made bad experiences with trading directly from a level. Then I don't know where to place the stoploss.
  • #135,369
  • Jun 12, 2015 12:53pm Jun 12, 2015 12:53pm
Quoting Adhavan
{quote} Hi Zamfir, Your GBPUSD entry was look very nice and impressive to me. .I would like ask something about your trade. . I am very much inmpressed about your entry location and your confident level while price mumbling. .. 1.your consider the buob right below the earlier daily resistance area 1.55562 2. After your entry price hold and formed a strong BEOVB but at resistance area, but you still keep position open. . 3. I noticed one thing is,your at 50% ret and while price mumbling, it not closed below 38.2%.. 4. Even fib support for your favour,...
1. 5450 was a major PPZ and we had broken out of that and then we had a pullback to that.on the pullback we got a BUOB confirming that price is still headed upwards.
So when we have signs of going up , resistance areas are bound to be broken. It was either that or it was going to chop between 5450 and 5550 and eventually breakout.

2. Yes , reason - see 1.

3&4. I don't use the 38.2 , so no fibs in play on this setup for me at least.

Expecting GBP/USD to go to 5700 before reversing down.
  • #135,370
  • Edited 3:08pm Jun 12, 2015 2:56pm | Edited 3:08pm
Quoting mbqb11
here is one from me this week, was a choppy market this week so nice to get some back This was an 8hr pinbar after price broke down and came and snapped back above a strong support area. I call them fakey breakouts and they are money Enjoy the weekend all {image} {image}
Hey Mike,

I caught that one as a touch trade from the lower part of the support-area, where price gap-opened the week into.
Caught it with a tight stop and made hay.
Then I tried re-entering after the H4 turned up a nice IB from this support-area.
I'm not sure if the IB on my H4 matches your H8 agg., but it unfortunately consumed my SL moved up, before edging higher to my pre-proposed TP @ 1.3880.
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Plus the weekly I posted a while ago, for where the pink area's are from:
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Nice to be holding the same side of you're trade Mike!
I hope for many more of these to come.

Have a good weekend!
It's a sport, an artform and a science.
  • #135,371
  • Edited 10:29pm Jun 12, 2015 10:10pm | Edited 10:29pm
Quote
]1. 5450 was a major PPZ and we had broken out of that and then we had a pullback to that.on the pullback we got a BUOB confirming that price is still headed upwards.
So when we have signs of going up , resistance areas are bound to be broken. It was either that or it was going to chop between 5450 and 5550 and eventually breakout.

2. Yes , reason - see 1

Thanks your response Zamfir. . I understand one thing when compare my view with your chart, when we looking a potential in 4 Hr, all the key factors should be followed in same time frame..

Here my mistake is, I draw a ppz in daily chart and looking PA in 4hr. ..I hope that I have got the information correct. .let me know. .

Adhav
  • #135,372
  • Jun 13, 2015 3:13am Jun 13, 2015 3:13am
Quoting Adhavan
{quote} Thanks your response Zamfir. . I understand one thing when compare my view with your chart, when we looking a potential in 4 Hr, all the key factors should be followed in same time frame.. Here my mistake is, I draw a ppz in daily chart and looking PA in 4hr. ..I hope that I have got the information correct. .let me know. . Adhav
This i think is one of the major mistakes done by people.

if you trading daily then trade daily ONLY, be it PPZs or PA or whatever. if you go down a timeframe for PA confirmation , that indicates a reversal on that timeframe and if that PA breaks it will go only to the FTA on that particular timeframe , but you are looking at a higher TF. So there is a very high chance that your trade will not work out and then you keep wondering why my trade failed.The answer was on 4h , but you are looking at daily. Hence the confusion.

I hope my reason makes sense to you.
  • #135,373
  • Jun 13, 2015 3:36am Jun 13, 2015 3:36am
Morning guys, I would like to ask a question regarding the frequency of trades using the higher time frames. I have been recently demoing on the 5 and 15 min time frames and whilst some days i am able to make really good profits on other days i trade poorly due to over trading and trying to catch up on losses (trading irrationally). I am starting to realise that trading the higher time frames is a much more effective way to the gain the discipline and foresight needed to trade successfully. My question is (and i know this is dependent on the markets) how many trades is one likely find on say the 4h TF and trading 4 currency pairs per trading week?

Many thanks.
  • #135,374
  • Jun 13, 2015 4:11am Jun 13, 2015 4:11am
Quoting Bladerunn3r
Morning guys, I would like to ask a question regarding the frequency of trades using the higher time frames. I have been recently demoing on the 5 and 15 min time frames and whilst some days i am able to make really good profits on other days i trade poorly due to over trading and trying to catch up on losses (trading irrationally). I am starting to realise that trading the higher time frames is a much more effective way to the gain the discipline and foresight needed to trade successfully. My question is (and i know this is dependent on the markets)...
It really depends from trader to trader, probably i would find 1 others might find 20+
  • #135,375
  • Jun 13, 2015 2:22pm Jun 13, 2015 2:22pm
Quoting zamfir
{quote} This i think is one of the major mistakes done by people. if you trading daily then trade daily ONLY, be it PPZs or PA or whatever. if you go down a timeframe for PA confirmation , that indicates a reversal on that timeframe and if that PA breaks it will go only to the FTA on that particular timeframe , but you are looking at a higher TF. So there is a very high chance that your trade will not work out and then you keep wondering why my trade failed.The answer was on 4h , but you are looking at daily. Hence the confusion. I hope my reason...
Yes Zamfir. .

It is really made some knowledge. .


Adhav
  • #135,376
  • Jun 14, 2015 1:39pm Jun 14, 2015 1:39pm
Quoting zamfir
{quote} This is a fine example for your query. We got the BUOB yesterday and i placed the order after i saw the BUOB. Today whole day it was mumbling around my entry price and now we have a breakout from the entry. GBP/USD - BE. {image}
yep, clear as daylight thanks a lot!!
Market can stay irrational longer than you can stay solvent.
  • #135,377
  • Edited 2:33pm Jun 14, 2015 2:07pm | Edited 2:33pm
He guys,

I'm about halfway through the Russel2000 and I'll be doing the latter half tomorrow.
For now I wanted to share with you the setup I found thusfar:

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Is this a proper divergence setup? It seems a bit messier that previous divergence setups I've seen around here.
I'm not sure how to explain what I mean by 'messy' in this situation, but I think its the Highs that preceeded the 'rounding shape', but acts as the 1st point of the divergence line (magenta).
Right afterwards it made lows that dipped well below the lower bound of the divergence-area (puple line). (< Mike, how do you call that line, in a divergence setup?)

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It's a sport, an artform and a science.
  • #135,378
  • Jun 15, 2015 11:11am Jun 15, 2015 11:11am
nice pin on the GBP/USD 4H.

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  • #135,379
  • Jun 15, 2015 12:51pm Jun 15, 2015 12:51pm
Quoting zamfir
nice pin on the GBP/USD 4H.
Nice trade zamfir,
took that one also.
May I ask were you placed the SL initially ?
  • #135,380
  • Jun 15, 2015 1:13pm Jun 15, 2015 1:13pm
here is a gap play i'm in on eur/cad. Price gapped right into the previous support(which was where my trade from the 8hr pinbar was last week - http://www.forexfactory.com/showthre...13#post8324013 ) which is also a long term daily PPZ too. Initial target is that gap close which lines up with the descending TL, i'm at b/e just seeing how we can breakout of this area now
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