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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

  • #136,301
  • Aug 5, 2015 11:57am Aug 5, 2015 11:57am
Quoting Guitarbloke
{quote} Hi Oble. My novice analysis included price in downtrend. Price closed below s/r .7050 area, retested and continued to trade below it. D1 PB (even though it had bullish close - prefer bearish close, but high rejection of s/r level wick) entry on retrace. Price looked to be at a supply area with more unfilled sell orders waiting than buy orders. General bearish control of market obvious. Yesterdays BEOVB looks good, but what's the RR, FTA, and how would you trade it? GB.
I waited for the BEOB and entered at the break below the BEOB, which I feel is a better confirmation but less pip potential than the pin bar. The pin bar didn't give me enough confidence initially because of the lack of space to the left. TP is at the previous low. I personally don't roll with a target RR. My current plan that I'm demoing is to enter and set my iSL based on the PA and location, but move SL to BE as soon as the trade moves 15~20 pips in my favour to protect capital (something I picked up from J16, sort of). I also take partial profit if it moves halfway to my initial target.
  • #136,302
  • Aug 5, 2015 12:01pm Aug 5, 2015 12:01pm
Quoting zamfir
Today on daily. USDJPY - BE {image} EURGBP - BE {image}
Nice! I'm also in the EUR/GBP based on the BEOB. Also had a buy order for the USD/JPY BUOB but cancelled it before it triggered as I decided to only roll with the EUR/GBP for today. I need to learn to trust my analysis more and let the edge play out, but I guess my confidence is nowhere nearly enough with only about a month into demo trading.
  • #136,303
  • Aug 5, 2015 12:16pm Aug 5, 2015 12:16pm
Quoting zamfir
Today on daily. USDJPY - BE {image} EURGBP - BE {image}
Hi Zamfir,
I like your strategie. Do you also take trades with less than Ratio 1:1? It seems that on EURGBP that Outside Bar is bigger than your distance to the FTA?
I following your strategie only since 2 weeks. I see from your posts that they are almost all winners. On a longer term what approximately is your Win / Loss ratio so I know about what to expect. Thanks Michel
  • #136,304
  • Aug 5, 2015 12:36pm Aug 5, 2015 12:36pm
Quoting Adhavan
{quote} Hi Zamfir, Thanks for your example chart as it is very helpful to find FTA in better way... Here I find FTA analysis in ranging market, from my understanding {image} Expect your input to make it better. Adhav
Adhavan ,still needs work. Not much room to first FTA. Even if first FTA is broken , you have a second one. See the daily on audcad , we are bullish after yday's cash rate announcements from RBA.

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  • #136,305
  • Aug 5, 2015 12:51pm Aug 5, 2015 12:51pm
Quoting oble
{quote} Nice! I'm also in the EUR/GBP based on the BEOB. Also had a buy order for the USD/JPY BUOB but cancelled it before it triggered as I decided to only roll with the EUR/GBP for today. I need to learn to trust my analysis more and let the edge play out, but I guess my confidence is nowhere nearly enough with only about a month into demo trading.
oble, no hurry in this business. I would suggest you trade on a small account instead of demo.
  • #136,306
  • Aug 5, 2015 1:13pm Aug 5, 2015 1:13pm
My long trade, mby will be double bottom
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  • #136,307
  • Aug 5, 2015 1:48pm Aug 5, 2015 1:48pm
GBPZAR Daily, confluence ratchets up the scorecard for a possible trade, pins and OB's are fine but the right place is critical.

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  • #136,308
  • Aug 5, 2015 2:08pm Aug 5, 2015 2:08pm
Quoting analysttrade
My long trade, mby will be double bottom {image}
this pair is moving down since july 2014 and lost about 2.200 pips. why should it stop here?
meine augen sind die sterne
  • #136,309
  • Aug 5, 2015 8:00pm Aug 5, 2015 8:00pm
Quoting aserbfx
{quote} this pair is moving down since july 2014 and lost about 2.200 pips. why should it stop here?
Completely agreed!! Been a long ride down. Looking for this box to break down and continue through weekly PPZ. Looking at weekly and daily box for PA. Great posts Zamfir and Mike! Enjoyed it!
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  • #136,310
  • Aug 5, 2015 8:20pm Aug 5, 2015 8:20pm
Quoting zamfir
{quote} oble, no hurry in this business. I would suggest you trade on a small account instead of demo.
Yeah I'm in no hurry. But I'm not sure if I'm in any state of opening a small account yet with so little experience.

Quoting analysttrade
My long trade, mby will be double bottom {image}
I don't get this trade. The bearish trend is still going strong, and you have multiple bearish PA in the past few days (bearish PB, bearish IB, BEOB one after another) with no presence of any strong bullish close on the latest bar. The TP location also looks unreasonable with nothing to signal a strong reversal since it looks to me that even if price does reverse off the support of the recent swing low, it will likely run into trouble around the 0.66 area.
  • #136,311
  • Edited 5:45am Aug 6, 2015 12:50am | Edited 5:45am
AUD/CHF H4 BEOVB. In on retrace to supply zone around .72000 area. Profit locked in. Manually trailing stop. Not much traffic below.

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GBP/NZD H1 DBLHC. Price returns to the scene marked by arrow. Then takes off. BE.

Update: closed trade awhile ago at 2.3904 for 60 pips as PA was loitering with intent to go south your honour. And it has. Happy with that. Risk managed, capital protected, profit banked.

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'Fail to plan, plan to fail'
  • #136,312
  • Edited 2:49am Aug 6, 2015 2:27am | Edited 2:49am
NZDUSD 4hr hyperthetical PA but confluence is already there, just waiting for the signal to buy.

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  • #136,313
  • Aug 6, 2015 3:48am Aug 6, 2015 3:48am
EURAUD 4hr with entry on 15 min, didn't take it. I know Jim isn't a fan of these diagonal lines, it's better than a blind trade.

4HR

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15min

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  • #136,314
  • Aug 6, 2015 3:55am Aug 6, 2015 3:55am
Quoting alphac
NZDUSD 4hr hyperthetical PA but confluence is already there, just waiting for the signal to buy. {image}
I reckon there's a few pips to be had on a rally Alphac, but if I look at the charts and ask myself who is in control, I'd have to say bears overwhelmingly at the moment. Monthly chart is at a support zone and has bounced up from here before, so may do again. There is also plenty of room for price to fall. If I was buying, I would proceed with caution. As you rightly say, wait for PA to show the way. Best wishes, GB.

NZD/USD Monthly.

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'Fail to plan, plan to fail'
  • #136,315
  • Aug 6, 2015 4:13am Aug 6, 2015 4:13am
I agree GB, trends never really bother me when taking trades, I don't look for reversals, in this 1000 pip drop since April 30 - 40 pip rises have happened over and over again, if the PA and confluence is there and all my other trade rules are met it's a goer, simple as. There is divergence now on Daily NZ and AUD, doesn't mean price will rise, but it's a significant stall/consolidation and to me these areas offer you the best opportunities to buy AND sell.

Cheers
  • #136,316
  • Aug 6, 2015 4:22am Aug 6, 2015 4:22am
Quoting alphac
I agree GB, trends never really bother me when taking trades, I don't look for reversals, in this 1000 pip drop since April 30 - 40 pip rises have happened over and over again, if the PA and confluence is there and all my other trade rules are met it's a goer, simple as. There is divergence now on Daily NZ and AUD, doesn't mean price will rise, but it's a significant stall/consolidation and to me these areas offer you the best opportunities to buy AND sell. Cheers
Sounds like a plan friend. I had to have a little chuckle, (ok minor stroke) when I saw your short trade on E/A as I'm long around the same area. Looks like you would've banked some pips. Good job. I'm looking for a move up on the H1 and H4 P'bars. Looking for price to come down a bit more so I can get in at a cheaper price. Not too far though!

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'Fail to plan, plan to fail'
  • #136,317
  • Edited 5:01am Aug 6, 2015 4:23am | Edited 5:01am
For example, looking at EJ daily it looks like a messy consolodation area that's not worth a second look, but there's gold in there, on the 1 hr there's a hugely important flip area, then you get an outside bar/pin right where you want it, there's even a bit of divergence.

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I didn't even look at the 15 min, but there's an A1 perfect pin you could have also taken.

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  • #136,318
  • Aug 6, 2015 4:51am Aug 6, 2015 4:51am
Quoting alphac
For example, looking at EJ daily it looks like a messy consolodation area that's not worth a second look, but there's gold in there, on the 1 hr there's a hugely important flip area, then you get an outside bar/pin right where you want it, there's even a bit of divergence. {image} I didn't even look at the 15 min, put there's an A1 perfect pin you could have also taken. {image}
Yep indeed. The smaller time frames are a wealth of info.
'Fail to plan, plan to fail'
  • #136,319
  • Aug 6, 2015 7:19am Aug 6, 2015 7:19am
EURGBP
PB break. Played this PB on my own risk with GBP news on background. It was too attractive))))
Closed most part of order near first trouble area & moved to BE.
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  • #136,320
  • Aug 6, 2015 9:01am Aug 6, 2015 9:01am
Quoting antisystem
EURGBP PB break. Played this PB on my own risk with GBP news on background. It was too attractive)))) Closed most part of order near first trouble area & moved to BE. {image}
Congrat's Anti. Against trend, but it worked. Price now at an S/R zone. Could look for short PA.

EUR/CAD D1 PB. Buy.

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'Fail to plan, plan to fail'
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