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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

Quoting incognito517
{quote} Killer trade!
Call me lucky.....
Undisciplined, impatient and unruly. Don't follow me kid.
AUDNZD 1hr

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Quoting Guitarbloke
{quote} Call me lucky.....
It's not luck when you're hitting 9 in 10 GB, I follow your posts carefully You can't hoodwink me... "Oh, twas a lower TF entry" I say BS! You've got a couple tricks up your sleeve!
Quoting incognito517
{quote} It's not luck when you're hitting 9 in 10 GB, I follow your posts carefully You can't hoodwink me... "Oh, twas a lower TF entry" I say BS! You've got a couple tricks up your sleeve!
No magic here Inco lol. Either way, you'd wanna be looking at the euro. pullbacks have been a goldmine.
Undisciplined, impatient and unruly. Don't follow me kid.
Hi All,

I am facing issue with major forex news release and subsequent market changes with respect to news. Unknowingly (for me) it has helped sometimes, but most of times it act against me..

I have installed lot of application in my mobile to read major and average impact news and read FF news to be out of trend change.. But, I am failed to understand the news properly and unable to manage my trade with respect to market news.

Can anyone have any idea to focus on which kind of news?


Adhav
Quoting Adhavan
Hi All, I am facing issue with major forex news release and subsequent market changes with respect to news. Unknowingly (for me) it has helped sometimes, but most of times it act against me.. I have installed lot of application in my mobile to read major and average impact news and read FF news to be out of trend change.. But, I am failed to understand the news properly and unable to manage my trade with respect to market news. Can anyone have any idea to focus on which kind of news? Adhav
If I'm not mistaken, J16 trading is largely, if not purely, technical.
Quoting Guitarbloke
EUR/JPY D1. DBHLC.
High five, GB!
I also took this trade in my demo account. 3 exact bar highs rejecting PPZ around 139, with the 3rd bar closing lower then the entire middle bar forming a beautiful DBHLC, and the price next day broke below 138 after retracing the PA bar gave me a good reason to trade. There was also some room to move down to the next trouble area PPZ around 137, which happens to be the middle of the box. Entered on the break of DBHLC and got out few pips above 137.
I'm actually not too sure if this trade could have been better entered on retrace of the PA bar, because that would mean trading right back into 138, i.e. not enough confirmation for me.
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Quoting oble
{quote} If I'm not mistaken, J16 trading is largely, if not purely, technical.
Ur not it is based on sr mainly
Truth hurts sometimes don't it
Quoting oble
{quote} Entered on the break of DBHLC and got out few pips above 137. I'm actually not too sure if this trade could have been better entered on retrace of the PA bar, because that would mean trading right back into 138, i.e. not enough confirmation for me. {image}
Hey Gerard, yeah if you played the retrace you'd be trading into 138 BRN but you would have moved your stop to BE when price approached 138 (1R). So it would have been a free trade from that point on and you would have taken 2.5R profits at the end.
Quoting incognito517
{quote} Hey Gerard, yeah if you played the retrace you'd be trading into 138 BRN but you would have moved your stop to BE when price approached 138 (1R). So it would have been a free trade from that point on and you would have taken 2.5R profits at the end.
I saw this setup, but didn't like that it closed just above the BRN. Several times I have seen that it pulls through enough to catch your order and then bum, against you.

Although it is true that from the break of the bar there are not important ppz until the next brn.

I kept missing good trades and taking the bad ones my filter is broken lol
Had to be me. Someone else might have gotten it wrong.
Quoting oble
{quote} If I'm not mistaken, J16 trading is largely, if not purely, technical.
Hi Oble,

I am not getting your point..

Adhav
Quoting mordin
{quote} I saw this setup, but didn't like that it closed just above the BRN. Several times I have seen that it pulls through enough to catch your order and then bum, against you. Although it is true that from the break of the bar there are not important ppz until the next brn. I kept missing good trades and taking the bad ones my filter is broken lol
You're the only person I know that can laugh about the fact that he has a broken filter. Maybe that's the problem, Mordy? You don't really care 'cause you have a ton of money already and so you're less picky about your trades?
Quoting incognito517
{quote} You're the only person I know that can laugh about the fact that he has a broken filter. Maybe that's the problem, Mordy? You don't really care 'cause you have a ton of money already and so you're less picky about your trades?
haha I wish! I laugh because if I don't I'd cry because is so frustrating. I'm being more picky, but I seem to let go trades that are good trades, and by mistake take the ones that are bad.

I think that I get like really nervous and I don't analyze correctly, is like I always miss something that of course in the post-trade analysis I see that it was important.
Had to be me. Someone else might have gotten it wrong.
Quoting incognito517
{quote} Hey Gerard, yeah if you played the retrace you'd be trading into 138 BRN but you would have moved your stop to BE when price approached 138 (1R). So it would have been a free trade from that point on and you would have taken 2.5R profits at the end.
That's true, and even if price does reverse from 138 the trade would have been stopped out at BE. Gotcha most of my demo and paper trades are entered on break of PA, so playing the retrace is something new to me (hence my most recent questions on this topic in the last few pages).

Quoting mordin
{quote} I saw this setup, but didn't like that it closed just above the BRN. Several times I have seen that it pulls through enough to catch your order and then bum, against you. Although it is true that from the break of the bar there are not important ppz until the next brn. I kept missing good trades and taking the bad ones my filter is broken lol
Keep at it. We all have much to learn, still. I wish we have the brain of Mordin Solus (love your screen name and profile picture, btw!) when it comes to trading: genius, works on pure logic and rationality without letting emotions getting in the way.
Quoting Adhavan
{quote} Hi Oble, I am not getting your point.. Adhav
Technical as in technical analysis. On the other hand, your post about trading and managing trades according to news and announcements is called fundamental analysis.
Quoting Adhavan
{quote} Hi Oble, I am not getting your point.. Adhav
Hi Adhavan, The question is whether your trading is better when you include news than when you just play the chart. Analysing economic announcements and including it in your trading plan may be great but can be difficult.it may be easier to first implement a purely technical strategy as per J16 methods and then add a layer based on news and economics.take care
Slow & steady
Quoting oble
{quote} Technical as in technical analysis. On the other hand, your post about trading and managing trades according to news and announcements is called fundamental analysis.
Quote
Hi Adhavan, The question is whether your trading is better when you include news than when you just play the chart. Analysing economic announcements and including it in your trading plan may be great but can be difficult.it may be easier to first implement a purely technical strategy as per J16 methods and then add a layer based on news and economics.take care

Hi Oble & Patapouer,

Thanks for your explanation.. I think the way of my question was misplaced.. I trading pure technical, but sometimes my position hit SL unexpectedly due to major news release and come back to its own directions as expected. It doesn't happen for all days, but periodically.

For example, I am open a long entry and market moves my favor. So, I slowly move my SL towards BE based on market movement.If any news released in the middle of position, price get reversal and hit my current SL. I am mainly focus on reduce the losses rather than earn profit. Thats why i am following above method. As I am working in company, I couldn't monitor the chart regularly.

I am unable to overcome this issue.


Adhav
Quoting Adhavan
{quote} {quote} Hi Oble & Patapouer, Thanks for your explanation.. I think the way of my question was misplaced.. I trading pure technical, but sometimes my position hit SL unexpectedly due to major news release and come back to its own directions as expected. It doesn't happen for all days, but periodically. For example, I am open a long entry and market moves my favor. So, I slowly move my SL towards BE based on market movement.If any news released in the middle of position, price get reversal and hit my current SL. I am mainly focus on reduce...
OK got it it happens also. I never tried to correlate this with any news release though. I always thought I tightened my stop too soon and got stopped when price retested a level. Then the difficulty is to find a balance between protecting your account while keeping the trade enough room to develop. .. couldn't find a clear cut answer to that I'm afraid....did you search for a tool that would help you monitor you trade from your mobile? I know there is a mt4 app for android . Don't know if it can be of any help. ..
Slow & steady
Quoting mordin
{quote} haha I wish! I laugh because if I don't I'd cry because is so frustrating. I'm being more picky, but I seem to let go trades that are good trades, and by mistake take the ones that are bad. I think that I get like really nervous and I don't analyze correctly, is like I always miss something that of course in the post-trade analysis I see that it was important.
Hey, Mordin, you're not alone. Same things happen to me from the begining of August.... Missing good setups, trading doubtful entrances...
Must do something with this disappointing tendency...
To Kershey and other beginners who are having some trouble in trading recently, below are some links that I find interesting for us newbies:

http://www.learntotradethemarket.com...-forex-trading

http://www.learntotradethemarket.com...rex-volatility

You can read more on this guy's website, his ideas are quite good and its only about PA trading.

Cheers,
Market can stay irrational longer than you can stay solvent.
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