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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

  • #136,361
  • Aug 8, 2015 2:11pm Aug 8, 2015 2:11pm
Quoting mbqb11
{quote} Lets not go back down this road incognito. If we keep it to trading only we dont have to get into petty fights like other threads. Ff has an ignore function if you dont want to view someone's posts. Again charts and trading questions only will always keep this thread on track Thanks! Mike Mike
Fine!
  • #136,362
  • Aug 8, 2015 2:19pm Aug 8, 2015 2:19pm
Quoting incognito517
{quote} Fine!
thanks
  • #136,363
  • Aug 8, 2015 2:38pm Aug 8, 2015 2:38pm
here are some of my august trades from this week

I had 3 trades that either hit my stop by a pip or missed my stop by a pip

I took the gbp/sgd that stopped me out during NFP when spread widened by a pip. Woulda worked out but such is life -.45% loss on that one. I thought I was far enough off that I wouldn't get caught or have to move stop.

I took a retrace to the big daily beob at the BRN. Notice the only entry here that makes sense is a retrace entry

before
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and after
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I also took a cad/chf long on the breakout and missed my stop by a pip(hit it on the demo feed where I replicate my trades for the group). So you win some with just hitting or missing your stop loss. That's just trading

I took profit just ahead of the BRN for a 2% gain.
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My current trades I am long the aud/usd from the DBLHC on a touch trade back to the pivot and I took a new position on the 4hr buob friday. I'm net breakeven on these with my stop losses so in case we drop back down I won't take a loss total

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  • #136,364
  • Aug 9, 2015 6:27am Aug 9, 2015 6:27am
AUD NZD W1 pinbar trade setup
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  • #136,365
  • Aug 9, 2015 6:33am Aug 9, 2015 6:33am
Quoting LamerTrader
{quote} He has many books but I mainly referred to the MW and the "New Market Wizards" With a bit of search you find both on the internet :-) I can also recommend Mike Bellafiore's 2 books (One good trade + The playbook). Both are good as well with tons of very good advice.
Thanks a lot.
  • #136,366
  • Aug 9, 2015 6:38am Aug 9, 2015 6:38am
oldest thread still a gem
Reliable/Stable/Profitable/Signals.
  • #136,367
  • Aug 9, 2015 6:55am Aug 9, 2015 6:55am
Quoting mbqb11
here are some of my august trades from this week I had 3 trades that either hit my stop by a pip or missed my stop by a pip I took the gbp/sgd that stopped me out during NFP when spread widened by a pip. Woulda worked out but such is life -.45% loss on that one. I thought I was far enough off that I wouldn't get caught or have to move stop. I took a retrace to the big daily beob at the BRN. Notice the only entry here that makes sense is a retrace entry before {image} {image} and after {image} I also took a cad/chf long on the breakout and missed...

Hi Mike,
Regarding your Aud/usd trade:

1.As it is sometimes quite hard to draw a TL to a pip, how important on this H4 BUOB is it if it closes above a TL or a little bit below?
I mean would you still take this trade if H4 BUOB did not closed above a TL?

2. Do you usually hold trades opened through the weekend?

Thanks for sharing
  • #136,368
  • Aug 9, 2015 4:55pm Aug 9, 2015 4:55pm
Quoting ziven78
{quote} Hi Mike, Regarding your Aud/usd trade: 1.As it is sometimes quite hard to draw a TL to a pip, how important on this H4 BUOB is it if it closes above a TL or a little bit below? I mean would you still take this trade if H4 BUOB did not closed above a TL? 2. Do you usually hold trades opened through the weekend? Thanks for sharing
Hey Ziven

Both can be playable. I tend to call them pre-emptive breakout bars as they are signaling the potential for the breakout. if the bar closes UNDER the TL you want to make sure to play a break of the bar and the TL because that area should take off if the breakout is correct. If price closes outside the TL you want to usually buy/sell closest to that TL which may be on the Close(like mine) or a pullback

I don't mind holding trades over the weekend if price is far away from my stops and so long as the markets are unstable. For example during the greece debacle I was closing up everything friday

Hope that helps
Mike
  • #136,369
  • Aug 9, 2015 9:17pm Aug 9, 2015 9:17pm
Decided not to take CAD/CHF pin. It would break right into PPZ.
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1.02^200
  • #136,370
  • Aug 10, 2015 3:03am Aug 10, 2015 3:03am
Quoting mbqb11
{quote} Hey Ziven Both can be playable. I tend to call them pre-emptive breakout bars as they are signaling the potential for the breakout. if the bar closes UNDER the TL you want to make sure to play a break of the bar and the TL because that area should take off if the breakout is correct. If price closes outside the TL you want to usually buy/sell closest to that TL which may be on the Close(like mine) or a pullback I don't mind holding trades over the weekend if price is far away from my stops and so long as the markets are unstable. For example...

I always thought that if the candle closes below TL it makes TL stronger and possible bounce more likely thus i would never take trade like this.

Thanks a lot for enlightening me on the subject, it's good to learn new stuff all the time. I'll be looking for this pre-emtive BO from now on.
  • #136,371
  • Edited 7:12am Aug 10, 2015 3:57am | Edited 7:12am
AUD/USD H1. BEOVB. Note bar closed below BRN 0.74000. also given long term downtrend and most importantly, trading from a swing high/or very close, I had a crack. Working out ok.

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USD/JPY. BUOVB H4. Bounced off 124.000 zone. Going ok so far. see how he goes.

I am also watching this closely to possibly get in short on retrace of D1 BEOVB.
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EUR/USD PB (better if it was sticking way out above price), but bearish close/breakout and at a swing high in downtrend gives me enough confluence.

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AUD/CAD H1. Nice move down.

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'Fail to plan, plan to fail'
  • #136,372
  • Edited 4:41am Aug 10, 2015 4:25am | Edited 4:41am
Hi Mike, Zamfir and the Traders!

If you have a little time for me, pls help me!
I'm looking for a reliable broker but it's not easy. Now I'm waiting for my money from my current broker, but it didn't send my money back... Two months have passed...
Other brokers always affected my chart and account, e.g.: I couldn't closed my positions, and other tricks...
It's a big problem in this business. Don't you have the same problem? If you have, how can you handle it?

If you could recommend me a nice broker company I'd like to give a last chance for the trading...
So if you can offer me a really good broker or bank company that would be nice.

I'm totally desperate. I'd like to trade but I can't because always something happens to my broker.
grrr....
!Thanks in advance!

ps.: Congrat 4 ur job and style, I really enjoy ur thread and I'm waiting for the new james16group site! cheers
Robert
  • #136,373
  • Aug 10, 2015 4:45am Aug 10, 2015 4:45am
Quoting Guitarbloke
USD/JPY. BUOVB H4. Bounced off 124.000 zone. Going ok so far. see how he goes. I am also watching this closely to possibly get in short on retrace of D1 BEOVB. {image}
GB, I don't see an outside bar on USDJPY 4H. What is your definition of OB? Must it only engulf the previous candle's real body?
  • #136,374
  • Aug 10, 2015 5:17am Aug 10, 2015 5:17am
Quoting robert076
Hi Mike, Zamfir and the Traders! If you have a little time for me, pls help me! I'm looking for a reliable broker but it's not easy. Now I'm waiting for my money from my current broker, but it didn't send my money back... Two months have passed... Other brokers always affected my chart and account, e.g.: I couldn't closed my positions, and other tricks... It's a big problem in this business. Don't you have the same problem? If you have, how can you handle it? If you could recommend me a nice broker company I'd like to give a last chance for the...
Hey Robert. I just want to say that I hear you friend. Others will be better suited to advise you, but until then, take care of yourself and a month or 2 at J16 right now, as the site is always operational might be a good idea to go for. GB.
'Fail to plan, plan to fail'
  • #136,375
  • Edited 5:34am Aug 10, 2015 5:22am | Edited 5:34am
Quoting incognito517
{quote} GB, I don't see an outside bar on USDJPY 4H. What is your definition of OB? Must it only engulf the previous candle's real body?
Hey Inco. You are correct. I stretched the definition by a few pips Jim style (he said 2-3 pips on the H4/daily can often pass, 1-2 pips on H1 but don't stretch it too far!). Anyway, there's an IB there too.
'Fail to plan, plan to fail'
  • #136,376
  • Aug 10, 2015 6:04am Aug 10, 2015 6:04am
Quoting Guitarbloke
{quote} Hey Inco. You are correct. I stretched the definition by a few pips Jim style (he said 2-3 pips on the H4/daily can often pass, 1-2 pips on H1 but don't stretch it too far!). Anyway, there's an IB there too.
Ah okay. I did not know that. Quiet day for me. I'm just saying NO to H4 trades, like I was taught at school to say no to drugs. This one is tempting though:
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Looking at EURUSD D1. If I had taken every pin bar from the beginning of Feb to now and played them at the 50% ret with a 2:1 RR, I would have had:
2 losers (green)
3 missed trades (blue), and
11 winners (red).

Note: they're not all textbook PBs but PBs I would have totally taken simply because they occurred at what I would consider horizontal levels. I have ignored the PBs that I would not have taken even though they're winners.
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  • #136,377
  • Aug 10, 2015 6:20am Aug 10, 2015 6:20am
Quoting incognito517
{quote} Ah okay. I did not know that. Quiet day for me. I'm just saying NO to H4 trades, like I was taught at school to say no to drugs. This one is tempting though:{image} Looking at EURUSD D1. If I had taken every pin bar from the beginning of Feb to now and played them at the 50% ret with a 2:1 RR, I would have had: 2 losers (green) 3 missed trades (blue), and 11 winners (red). Note: they're not all textbook PBs but PBs I would have totally taken simply because they occurred at what I would consider horizontal levels. I have ignored the PBs that...
Cool stats eh? Thanks for that info Inco. Here's the GBP/USD D1 chart. That H4 PB you spoke of is in the middle of this daily and H4 box/range. Maybe best to trade from the extremes/outer limits than inside it? Still could be good for a few pips who knows. But many would be looking to trade the box.

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'Fail to plan, plan to fail'
  • #136,378
  • Aug 10, 2015 7:10am Aug 10, 2015 7:10am
Quoting robert076
Hi Mike, Zamfir and the Traders! If you have a little time for me, pls help me! I'm looking for a reliable broker but it's not easy. Now I'm waiting for my money from my current broker, but it didn't send my money back... Two months have passed... Other brokers always affected my chart and account, e.g.: I couldn't closed my positions, and other tricks... It's a big problem in this business. Don't you have the same problem? If you have, how can you handle it? If you could recommend me a nice broker company I'd like to give a last chance for the...

Which broker are you with. I never had these kind of problems. I have traded with hotforex and FCXM. I m currently with FXCM. No issues so far.

My suggestion is you try oanda or fxcm.
  • #136,379
  • Aug 10, 2015 7:34am Aug 10, 2015 7:34am
Quoting Guitarbloke
{quote} Cool stats eh? Thanks for that info Inco. Here's the GBP/USD D1 chart. That H4 PB you spoke of is in the middle of this daily and H4 box/range. Maybe best to trade from the extremes/outer limits than inside it? Still could be good for a few pips who knows. But many would be looking to trade the box. {image}
Dumb*ss router decides to disconnect every time I click "post new reply."

Yes you're right, that does look to be in the middle of a consolidation box. But I didn't take the trade. Avoiding the H4 TF.

All the best with your trades today, pal.
  • #136,380
  • Aug 10, 2015 7:41am Aug 10, 2015 7:41am
Quoting incognito517
{quote} Dumb*ss router decides to disconnect every time I click "post new reply." Yes you're right, that does look to be in the middle of a consolidation box. But I didn't take the trade. Avoiding the H4 TF. All the best with your trades today, pal.
Thanks. am in profit as you can see. but how I manage them is the key. But That H4 PB is trading into a PPZ and a lot of traffic thereafter. Might be good for a few pips, but who wants to be stewing in traffic at a busy intersection with lights temporarily out of order. If I'm looking at 20 pairs per day, good chance a set up will occur soon enough somewhere else.
'Fail to plan, plan to fail'
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