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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

  • #135,801
  • Jul 9, 2015 9:02am Jul 9, 2015 9:02am
Quoting Bladerunn3r
{quote} Damn sorry to read that, don't get too downhearted, a $5 is a win. I suffer with the opposite of what you have in this case, I tend to cash out too early. But i remember that you had a wicked trade yesterday that gave you 130 pips? have i remembered that correctly? that's some first rate trading soldier........ You sent me a link to listen to whilst trading so here is one for you to listen to now. https://www.youtube.com/watch?v=yHFDa9efCQU
Blade thanks haha, I'm fine just a bit annoyed with myself for letting 100 bucks slip through my hands, I'm trying to save up for J16 membership. But it's okay, tomorrow will give me another chance .

No, I got 130 points on Tuesday's Sterling trade, yesterday was good too, 85 points on the Euro. It's been a good week, no losses so can't really complain. Still highly annoyed though, good excuse for a beer.
  • #135,802
  • Jul 9, 2015 9:13am Jul 9, 2015 9:13am
Quoting energyjms
hi all..im newbie here..just wanna ask if the james16group still available to join?
hi energyjim,
welcome to forum, it's great place for learning. yest its available, i did joined a week ago and i'm happy with that. you can also find very good information at the page 1 to 300 of this forum, highly recommend that. take care.reza
  • #135,803
  • Jul 9, 2015 9:16am Jul 9, 2015 9:16am
Quoting Reza.glm
{quote} hi energyjim, welcome to forum, it's great place for learning. yest its available, i did joined a week ago and i'm happy with that. you can also find very good information at the page 1 to 300 of this forum, highly recommend that. take care.reza
oh thx Reza..while reading thru this thread i get to know that thr will be a new j18 website coming up soon?
  • #135,804
  • Jul 9, 2015 9:54am Jul 9, 2015 9:54am
Quoting energyjms
{quote} oh thx Reza..while reading thru this thread i get to know that thr will be a new j18 website coming up soon?
Yep...not exactly sure when, Mike will tell us when that happens. Waiting for new site also
  • #135,805
  • Jul 9, 2015 10:11am Jul 9, 2015 10:11am
Quoting gasgas
{quote} Yep...not exactly sure when, Mike will tell us when that happens. Waiting for new site also
i see..hopefully it will be up real soon..
  • #135,806
  • Jul 9, 2015 12:21pm Jul 9, 2015 12:21pm
Hello! Very interesting indicator on Price Action. All selected symbols on tree timeframes in one board! https://www.mql5.com/en/market/product/10398
  • #135,807
  • Jul 9, 2015 2:59pm Jul 9, 2015 2:59pm
Quoting Guitarbloke
{quote} Hey Adhavan. Reza makes some good points. For me, that PB is in the middle of a lot of mess, closed bearish and there's no real direction in the market as yet. Price is at a resistance level around 1.10500 zone, plus 1. 10000 level close below. A lot of traffic/resistance above you as you can see. BEOB on H4, but this is trading into BRN 1.10000. PB may work out, but not sure if this trade has a good probability right now. All the best friend. GB.
Thanks GB and Reza for your input.. I am going to reanalyze the chart with your points frnds...

Adhav
  • #135,808
  • Jul 9, 2015 5:56pm Jul 9, 2015 5:56pm
couple trade from me the last couple days

Touch trade on the cad/jpy at a major support area, divergence and pinbar

and took a eurjpy daily "wick" play just now


Obviously we had news come out of greece once again(no big surprise) but i also continue to suggest not holding risk into the weekend on indexes or currencies

These are my charts from the PF
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  • #135,809
  • Jul 9, 2015 9:19pm Jul 9, 2015 9:19pm
Quoting mbqb11
couple trade from me the last couple days

Touch trade on the cad/jpy at a major support area, divergence

and pinbar and took a eurjpy daily "wick" play just now
What's a touch trade and what's a "wick" play?
  • #135,810
  • Jul 9, 2015 9:38pm Jul 9, 2015 9:38pm
Thanks for sharing your trades Mike.

Question for everybody. I'm fairly new to trend lines. In the NZD/CHF daily chart below, price has broken up through that trendline. Does this usually mean the trend has turned and is now in an uptrend? Many Thanks, GB.

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'Fail to plan, plan to fail'
  • #135,811
  • Jul 9, 2015 9:46pm Jul 9, 2015 9:46pm
Quoting Reza.glm
{quote} Thanks for reply D. it's interesting to me that you only trade daily so you are not going to TT(touch trade) you'll wait for PA at lower trendline?
I take TTs, but not at TL, mostly at highly confluenced horizontal S/R zones - preferably at Round Numbers. So I would wait for PA in this case like you said, preferably a "reteset" something like I have marked on this chart.

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  • #135,812
  • Jul 10, 2015 1:06am Jul 10, 2015 1:06am
Quoting oble
{quote} What's a touch trade and what's a "wick" play?
I'm wondering the same thing I assume it's play from a key event zone like support without PA. I have no idea though, and I'm curious to know.
  • #135,813
  • Jul 10, 2015 1:15am Jul 10, 2015 1:15am
Quoting Guitarbloke
Thanks for sharing your trades Mike. Question for everybody. I'm fairly new to trend lines. In the NZD/CHF daily chart below, price has broken up through that trendline. Does this usually mean the trend has turned and is now in an uptrend? Many Thanks, GB. {image}
Hey GB, from my understanding of TL's, no, it doesn't mean the trend is over. Price can breakthrough higher and then continue with the down trend.
  • #135,814
  • Jul 10, 2015 1:24am Jul 10, 2015 1:24am
Quoting incognito517
{quote} I'm wondering the same thing I assume it's play from a key event zone like support without PA. I have no idea though, and I'm curious to know.
Touch trading is entering on a trade on the assumption price will react, without waiting for a price action set up.some will say price movement is price action and will base their trade on it (see Felix cattus 1 minute thread for example). Other will consider the confluence of levels at a particular price: RN plus s/r plus fib plus TL plus......Take care
Slow & steady
  • #135,815
  • Jul 10, 2015 1:25am Jul 10, 2015 1:25am
Quoting incognito517
{quote} I'm wondering the same thing I assume it's play from a key event zone like support without PA. I have no idea though, and I'm curious to know.
Hey C!

I have basic knowledge, but touch trade is a trade without PA confirmation, more like taking it because of the orderflow. You just "know" that a PPZ is so, so good, that you "anticipate" to the movement. (more or less that's the definition)

A wick play, is just a trade you take to fill the wick of the previous bar. More or less like a gap, when you take a trade to fill the gap.

I still haven't dabbed much into this, so can't really tell anything more. This type of trades are on my learning list, but first I have to get better with basic trades and then breakouts.

hope this helps


---------------------
Today I allowed myself to turn three winners into three losers. I was up around 20 pips in each one, and I failed to notice momentum was not good, so did not make BE, just lowered the risk. It hurt so much in my mind! At least it wasnt three full bar losers
Had to be me. Someone else might have gotten it wrong.
  • #135,816
  • Jul 10, 2015 1:27am Jul 10, 2015 1:27am
Quoting incognito517
{quote} Hey GB, from my understanding of TL's, no, it doesn't mean the trend is over. Price can breakthrough higher and then continue with the down trend.
Thanks Inco. Yep, price will go where it wants to. I read somewhere that a " 1, 2, 3 pattern" can signal a trends end. Either way, no harm in waiting and letting the market confirm it's direction. No need to have to get in at the exact bottom or top of a trend. That would be just plain greedy......:nerd:
'Fail to plan, plan to fail'
  • #135,817
  • Jul 10, 2015 1:35am Jul 10, 2015 1:35am
Morning guys, hope you all slept well and have eaten your morning oats.

USD CHF is looking interesting on the hourly, Pin bar forming at possible swing low/ trend line hit in an up trend. Its seen two big moves up from previous setups so it could be one to watch.
  • #135,818
  • Jul 10, 2015 1:53am Jul 10, 2015 1:53am
Thanks Patapouer and Mordin. Very interesting!

Has Mike covered wick plays in a video?
  • #135,819
  • Jul 10, 2015 1:54am Jul 10, 2015 1:54am
AUD/CAD got out of the long at BE and now Iam short.


Took a full bar loss in USD/NOK trend.
It was not one single second in profit.
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  • #135,820
  • Jul 10, 2015 1:58am Jul 10, 2015 1:58am
Quoting Guitarbloke
{quote} Thanks Inco. Yep, price will go where it wants to. I read somewhere that a " 1, 2, 3 pattern" can signal a trends end. Either way, no harm in waiting and letting the market confirm it's direction. No need to have to get in at the exact bottom or top of a trend. That would be just plain greedy......:nerd:
Indeed GB. Yeah I think we start watching it now after breaking the T/L. If I'm not mistaken, this is the sort of pattern we're looking for:
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@Blade: Good morning Blade, not oatmeal bleh! Cheerios!
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