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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

  • #135,661
  • Jul 6, 2015 2:28am Jul 6, 2015 2:28am
Meanwhile, short GBP/JPY off gap open and tested resistance.
TP hit near RR 1:1 at FTA.
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  • #135,662
  • Jul 6, 2015 2:37am Jul 6, 2015 2:37am
Quoting incognito517
I stumbled upon this while glancing through an ebook on the pin bar. You'd have to admit, it's quite difficult NOT to see the male anatomy in this. Another reason for choosing candlesticks over bar charts I guess. {image}
This is hilarious! That's one way of looking at it

I'm about 2 weeks into demo trading after reading through this thread. I must say patience and discipline is so important. Scan charts and if nothing jumps out, it's best to close it for the day (for trading dailies and weeklies) than to try and make excuses for a weak PA signal. I feel that if you have to stare at the chart for more than a few minutes to try and cook up some reason and confluence, it's probably not a good trade. Good PA does really jump out on the higher time frames. Another thing to prevent revenge or excitement trading, in my humble newbie opinion, is to step away for a day or two after a bad trade or after a good win to let the emotions settle. Missing a couple of potential trades during the time away is better than over-trading due to revenge trading or the euphoria from winning. I remember reading somewhere along these lines: breaking even is a win; not being in a trade is also a win. Seems like a good mindset to be in for a newbie trader, but what do you guys think?

Again, I have to thank James and everyone else in this thread. I know it's very, very early days, but after doing some tallying, my demo account is actually up over 350 pips in 2 weeks of getting myself back into forex trading, which never happened in my past experiences of dabbling here and there in live and/or demo trading without any knowledge. Here's to learning more, further refining my trading plans and more pips into my demo account, and eventually a live account
  • #135,663
  • Jul 6, 2015 2:44am Jul 6, 2015 2:44am
Last open trade from last nights gap down, closed out half the profit and letting the other half run to hopefully TP.
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  • #135,664
  • Jul 6, 2015 2:57am Jul 6, 2015 2:57am
Quoting oble
{quote} This is hilarious! That's one way of looking at it I'm about 2 weeks into demo trading after reading through this thread. I must say patience and discipline is so important. Scan charts and if nothing jumps out, it's best to close it for the day (for trading dailies and weeklies) than to try and make excuses for a weak PA signal. I feel that if you have to stare at the chart for more than a few minutes to try and cook up some reason and confluence, it's probably not a good trade. Good PA does really jump out on the higher time frames....
Good luck Oble, i have spent time on many of the forum threads and this is by far the most constructive and balanced.

And congratulations on your 2 weeks
  • #135,665
  • Jul 6, 2015 2:57am Jul 6, 2015 2:57am
Gold brings home the broccoli. H4 Sell. Entered top of 3rd last bearish bar. See chart previous post.

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'Fail to plan, plan to fail'
  • #135,666
  • Jul 6, 2015 3:00am Jul 6, 2015 3:00am
Quoting oble
{quote} This is hilarious! That's one way of looking at it I'm about 2 weeks into demo trading after reading through this thread. I must say patience and discipline is so important. Scan charts and if nothing jumps out, it's best to close it for the day (for trading dailies and weeklies) than to try and make excuses for a weak PA signal. I feel that if you have to stare at the chart for more than a few minutes to try and cook up some reason and confluence, it's probably not a good trade. Good PA does really jump out on the higher time frames....
Good job Oble.
'Fail to plan, plan to fail'
  • #135,667
  • Jul 6, 2015 3:17am Jul 6, 2015 3:17am
Quoting Guitarbloke
Gold brings home the broccoli. H4 Sell. Entered top of 3rd last bearish bar. See chart previous post. {image}
I like it.
  • #135,668
  • Jul 6, 2015 3:22am Jul 6, 2015 3:22am
Quoting dmd
Hi, guys! AUD/NZD W1 What do you think about this PB? It's with the trend, from TL and PPZ, RN 1.13, also .38 Fib - as for me, nice place. The only moment that PB body is bullish (close higher then open). Is it critical? {image}
Hi,

I am currently looking at it as well.

A bit wary of the 1.1150 S/R though.

Let's see whether we have a H1/H4 PA setup on a retrace... or how it breaks
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Slow & steady
  • #135,669
  • Jul 6, 2015 3:38am Jul 6, 2015 3:38am
Really good work guys. My Gbpusd trade got burnt but got to go back to the basics - PA on the 4hr. Well onto the next trade.
  • #135,670
  • Jul 6, 2015 3:39am Jul 6, 2015 3:39am
Quoting patapouer
{quote} Hi, I am currently looking at it as well. A bit wary of the 1.1150 S/R though. Let's see whether we have a H1/H4 PA setup on a retrace... or how it breaks {image}
Hi Patapouer,

AUD/NZD pair, price can up to 1.127-1.130 before go down 1.100 area.
  • #135,671
  • Jul 6, 2015 4:01am Jul 6, 2015 4:01am
Quoting patapouer
{quote} Hi, I am currently looking at it as well. A bit wary of the 1.1150 S/R though. Let's see whether we have a H1/H4 PA setup on a retrace... or how it breaks {image}
Yeah looks like price is going back up to retest the previous Support, strong PA later today or tomorrow and this could be a good trade to take.
  • #135,672
  • Jul 6, 2015 4:13am Jul 6, 2015 4:13am
Quoting incognito517
I stumbled upon this while glancing through an ebook on the pin bar. You'd have to admit, it's quite difficult NOT to see the male anatomy in this. Another reason for choosing candlesticks over bar charts I guess. {image}
I thought the same when I saw it lol, very funny, nice to have you around here incog, I also liked your previous post

Today I missed again all the gaps, and my H4 charts are all messed up, so I'm waiting on the sidelines.
Had to be me. Someone else might have gotten it wrong.
  • #135,673
  • Jul 6, 2015 4:14am Jul 6, 2015 4:14am
Quoting dmd
Hi, guys! AUD/NZD W1 What do you think about this PB? It's with the trend, from TL and PPZ, RN 1.13, also .38 Fib - as for me, nice place. The only moment that PB body is bullish (close higher then open). Is it critical? {image}
Hi dmd,
welcome to forum. i had it in my watch list, was interested in daily pin but didn't take it due to 1.13 resistance. about w pin, the open of the pin is not within the previous bar which makes it not pin. bluish body is a negative point but its just one of the criteria. location seems good, but we have very steep uptrend and trend line under it that makes me pass on this. anyway i'm new to this, just my thoughts. hope it help.

Reza
  • #135,674
  • Jul 6, 2015 5:55am Jul 6, 2015 5:55am
Quoting oble
{quote} This is hilarious! That's one way of looking at it I'm about 2 weeks into demo trading after reading through this thread. I must say patience and discipline is so important. Scan charts and if nothing jumps out, it's best to close it for the day (for trading dailies and weeklies) than to try and make excuses for a weak PA signal. I feel that if you have to stare at the chart for more than a few minutes to try and cook up some reason and confluence, it's probably not a good trade. Good PA does really jump out on the higher time frames....
Hey Oble, yeah it was pretty hilarious!
I’m relatively new to this forum as well but I’ve been trading for a couple years. I totally agree with what you said, I’m of the same mind actually. I wait for the market to come to me rather than chasing it. You’ll notice that some traders here are of a different opinion, which isn't necessarily bad. Everyone’s different I suppose, but it just doesn’t suit my personality. I love trading, it’s in my blood. Although I do have some bad habits like TUI (trading under the influence). I’m supposed to be working on an assignment on Property Law today but I’m studying currency price charts and drinking beer instead haha. But there are some pretty solid traders here that I’m sure you’ll enjoy. So let me be the first to welcome you to the thread and don’t be afraid to share your trade setups with us.
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I'm Courtney BTW.

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@Mordin: That's because you have a perverted mind , you shamelessly admitted it LOL. Thanks for the compliment
  • #135,675
  • Jul 6, 2015 6:07am Jul 6, 2015 6:07am
Quoting incognito517
{quote} Hey Oble, yeah it was pretty hilarious! Im relatively new to this forum as well but Ive been trading for a couple years. I totally agree with what you said, Im of the same mind actually. I wait for the market to come to me rather than chasing it. Youll notice that some traders here are of a different opinion, which isn't necessarily bad. Everyones different I suppose, but it just doesnt suit my personality. I love trading, its in my blood. Although I do have some bad habits like TUI (trading under the influence). Im supposed to be working...
Good to see the future of SA justice is in excellent hands.
'Fail to plan, plan to fail'
  • #135,676
  • Jul 6, 2015 7:32am Jul 6, 2015 7:32am
Quoting Guitarbloke
{quote} Good to see the future of SA justice is in excellent hands.
Haha you're making sarcastic and snide comments, GB. Just pray that I don't decide to ply my trade in Australia. SA LLB conversion to Aus is straightforward. I simply get my degree assessed by the LPAB and then do a 12 month bridging course at the University of New England in NSW (can even be done via correspondence while I'm still here). I will only have to redo Aus constitutional law, property law and equity (which is English law principle). So watch what you say smarty pants.

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@Blade: Hope you already took profits going long on the Euro gap. Doesn't look pretty.
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  • #135,677
  • Jul 6, 2015 7:36am Jul 6, 2015 7:36am
Quoting incognito517
{quote} Haha you're making sarcastic and snide comments, GB. Just pray that I don't decide to ply my trade in Australia. SA LLB conversion to Aus is straightforward. I simply get my degree assessed by the LPAB and then do a 12 month bridging course at the University of New England in NSW (can even be done via correspondence while I'm still here). I will only have to redo Aus constitutional law, property law and equity (which is English law principle). So watch what you say smarty pants. -----------------------------------------------------------------------------------------------------------...


Inco. I bet you'll rock all exams.

Yes, we're seeing E/U moving below 1.10650 s/r zone, so I'm looking for PA to get on board short if it heads down.
'Fail to plan, plan to fail'
  • #135,678
  • Jul 6, 2015 8:03am Jul 6, 2015 8:03am
Not an A plus but wondering if anybody is looking at this trade. Pin bar on weekly but location is not that great.
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  • #135,679
  • Jul 6, 2015 8:09am Jul 6, 2015 8:09am
AUD/CAD H1 IB. Trading the D1 box range back to the top. 1st target hit. BE. I'm reviewing current BE technique but for this box trade i'll take profit at 1st target and move SL to BE as a bit of traffic through the middle. Free trade from here so no worries.

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'Fail to plan, plan to fail'
  • #135,680
  • Jul 6, 2015 8:22am Jul 6, 2015 8:22am
Quoting prasad99
Not an A plus but wondering if anybody is looking at this trade. Pin bar on weekly but location is not that great. {image}
Hey Prasad. AUD/NZD. Yes, it is at an area/zone of interest. I will likely wait to see if price retraces to resistance zone and then see what unfolds. I may jump in sooner if strong PA presents on a lower TF. Best wishes GB.
'Fail to plan, plan to fail'
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