james16 Chart Thread | Page 6832 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #136,621
  • Aug 23, 2015 8:33pm Aug 23, 2015 8:33pm
here's a simple trade I have based on a massive PPZ for this week. The only entry you can take here is a pullback to this pivot. If you use my dynamic risk:reward concept it gives you a very low risk entry(again think back to my posts of recent about how you can reduce your risk ie true risk and real risk)

it's also a 2week DBLHC
Attached Image (click to enlarge)
Click to Enlarge Name: 8-23-2015 9-25-58 PM.gif Size: 34 KB
  • #136,622
  • Edited 3:19am Aug 24, 2015 12:52am | Edited 3:19am
GBP/JPY Edit: Riding the dragon. 400 pips locked in and still running.

Looking around, there's a few pips out there to be made this week.

Stick with it Kershey. A big breakthrough for me was understanding the simple power of trading PA long from a swing low, or PA short from a swing high. These area's often have BRN or S/R confluence too as you probably know. With trend as added confluence.

Thank you Mike, and all the best to you and family.

Thanks Z for the weekly set-ups. GB.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily 24815 A.png Size: 26 KB
'Fail to plan, plan to fail'
  • #136,623
  • Aug 24, 2015 4:28am Aug 24, 2015 4:28am
Quoting Guitarbloke
GBP/JPY Edit: Riding the dragon. 400 pips locked in and still running. Looking around, there's a few pips out there to be made this week. Stick with it Kershey. A big breakthrough for me was understanding the simple power of trading PA long from a swing low, or PA short from a swing high. These area's often have BRN or S/R confluence too as you probably know. With trend as added confluence. Thank you Mike, and all the best to you and family. Thanks Z for the weekly set-ups. GB. {image}
Thanks for the sharing GB.
Was it a touch trade or you had a PA on any lower time frames (I couldn't see any specific trigger on the chart itself )
  • #136,624
  • Aug 24, 2015 4:39am Aug 24, 2015 4:39am
Quoting Guitarbloke
GBP/JPY Edit: Riding the dragon. 400 pips locked in and still running. Looking around, there's a few pips out there to be made this week. Stick with it Kershey. A big breakthrough for me was understanding the simple power of trading PA long from a swing low, or PA short from a swing high. These area's often have BRN or S/R confluence too as you probably know. With trend as added confluence. Thank you Mike, and all the best to you and family. Thanks Z for the weekly set-ups. GB. {image}
Really crazy move with the JPY over the weekend, and nice trade, GB. What a trade to wrap August up. I did see a couple of JPY setups last week but didn't take them: AUD/JPY BEOB but it was trading right into PPZ; GBP/JPY IB off 195.00 and broke through PPZ but didn't take it because IB wasn't really part of my trading plan, yet.
  • #136,625
  • Aug 24, 2015 4:48am Aug 24, 2015 4:48am
Quoting mozyr
{quote} Thanks for the sharing GB. Was it a touch trade or you had a PA on any lower time frames (I couldn't see any specific trigger on the chart itself )
Thanks Oble. Lucky things went my way.

Hey Mozyr. My entry was break below D1 IB and range. See chart. Thanks, GB.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYDaily 24815 B.png Size: 26 KB
'Fail to plan, plan to fail'
  • #136,626
  • Aug 24, 2015 6:47am Aug 24, 2015 6:47am
Quoting Guitarbloke
GBP/JPY Edit: ... Stick with it Kershey. A big breakthrough for me was understanding the simple power of trading PA long from a swing low, or PA short from a swing high. ...
Yes GB trading PA from a swing low.. This is a literal example of a trade am still in. Guess so far more than 2500 pips I think . Kershey keep at it. And thanks for your help Zamfir as I followed this trade from info I got from your charts on some really long moves you rode out some time ago. And Mike big ups to you and I pray your gf speedily recovers.
Attached Image (click to enlarge)
Click to Enlarge Name: EURTRYDaily001.png Size: 39 KB
  • #136,627
  • Aug 24, 2015 7:37am Aug 24, 2015 7:37am
Quoting albus999
{quote} Yes GB trading PA from a swing low.. This is a literal example of a trade am still in. Guess so far more than 2500 pips I think . Kershey keep at it. And thanks for your help Zamfir as I followed this trade from info I got from your charts on some really long moves you rode out some time ago. And Mike big ups to you and I pray your gf speedily recovers. {image}
Brilliant trade albus, also very good managed.
Had to be me. Someone else might have gotten it wrong.
  • #136,628
  • Aug 24, 2015 8:13am Aug 24, 2015 8:13am
Quoting mbqb11
here's a simple trade I have based on a massive PPZ for this week. The only entry you can take here is a pullback to this pivot. If you use my dynamic risk:reward concept it gives you a very low risk entry(again think back to my posts of recent about how you can reduce your risk ie true risk and real risk) it's also a 2week DBLHC {image}
out for a 1% loss

Volatility is absolutely AMAZING be very careful folks these markets are looking to go on a tear or capitulate
  • #136,629
  • Aug 24, 2015 8:14am Aug 24, 2015 8:14am
How could it be any different.
Lost 3% on this one, no risk management possbile.
How many trades are needed just to come back just to BE ?!?!?!?!Q!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZD-CAD.png Size: 37 KB
Click to Enlarge Name: NZD-CAD 2.png Size: 29 KB
  • #136,630
  • Aug 24, 2015 8:48am Aug 24, 2015 8:48am
Quoting Kershey
How could it be any different. Lost 3% on this one, no risk management possbile. How many trades are needed just to come back just to BE ?!?!?!?!Q! {image} {image}
This one moved quick if you didn't get out around 8650, I told the group that's when it's time to look to cut out

I took a loss too K but just trimmed that loss which is crucial , price shouldn't have to go down under our PPZ if we are correct. Obviously some extraordinary conditions today but none the less our approach has to be the same

Best
Mike
  • #136,631
  • Aug 24, 2015 8:56am Aug 24, 2015 8:56am
Quoting mbqb11
{quote} This one moved quick if you didn't get out around 8650, I told the group that's when it's time to look to cut out I took a loss too K but just trimmed that loss which is crucial , price shouldn't have to go down under our PPZ if we are correct. Obviously some extraordinary conditions today but none the less our approach has to be the same Best Mike
Any idea what might have caused such a reaction?

I was lucky in that i was shorting the AUD/USD at the time and price smashed and ran through my TP, had i been watching I could have taken 3x the profit i actually took.

Times like these it seems wise to just stay out of the mix.
  • #136,632
  • Aug 24, 2015 8:59am Aug 24, 2015 8:59am
Quoting Bladerunn3r
{quote} Any idea what might have caused such a reaction? I was lucky in that i was shorting the AUD/USD at the time and price smashed and ran through my TP, had i been watching I could have taken 3x the profit i actually took. Times like these it seems wise to just stay out of the mix.
That's great B, yes times like this lead to great trading times for traders though. Because soon things will find order with the technical levels that develop now

I'm flat as well but will do the usual determine great levels and watch for PA business as usual when it comes

What caused it? Just the usual when things start to "crash" all the usual panic, computers, etc these markets have happened time and time again. Yes incredible one day moves in some markets that are new records but i think from a trading standpoint we just have to understand the conditions. If you jump in willy nilly you're gonna get chewed up.

Mike
  • #136,633
  • Aug 24, 2015 8:59am Aug 24, 2015 8:59am
Quoting Kershey
How could it be any different. Lost 3% on this one, no risk management possbile. How many trades are needed just to come back just to BE ?!?!?!?!Q! {image} {image}
Yeah nothing you could have done on this one Kershey, it was a freaky move, some got lucky and some got unlucky on this. Looking across other threads I can see that some people have had their accounts wiped out by these moves so, and this may be of scant comfort, make thanks for small mercies.
  • #136,634
  • Aug 24, 2015 9:06am Aug 24, 2015 9:06am
Quoting mbqb11
{quote} That's great B, yes times like this lead to great trading times for traders though. Because soon things will find order with the technical levels that develop now I'm flat as well but will do the usual determine great levels and watch for PA business as usual when it comes What caused it? Just the usual when things start to "crash" all the usual panic, computers, etc these markets have happened time and time again. Yes incredible one day moves in some markets that are new records but i think from a trading standpoint we just have to understand...
Fine advice and with regards to the attitude to employ post such a sudden move I agree fully. It is a difficult thing to remain balanced when the market can whip so sharply but the more I trade forex the more i understand the importance of a keeping a level head and not deviating from the plan.
  • #136,635
  • Aug 24, 2015 9:09am Aug 24, 2015 9:09am
now it is important to use proper money management, stop losses and a general smart investment process.
do not predict market actions, let the market do and follow.
meine augen sind die sterne
  • #136,636
  • Aug 24, 2015 9:36am Aug 24, 2015 9:36am
Quoting mbqb11
{quote} out for a 1% loss Volatility is absolutely AMAZING be very careful folks these markets are looking to go on a tear or capitulate
Mike and All,

This is perfect example which I am trying to explain for the last few post.... Market some times react as above, during that time our confluences and strategies are not enough to handle..

I am watching market news for the past few months and analyze the chart with respect to news.. Unfortunately my newbie forex knowledge couldn't fine tune the situation as the market sometime react and rest of the time doesn't for the same kind of news..

Adhav
  • #136,637
  • Aug 24, 2015 10:03am Aug 24, 2015 10:03am
Quoting Adhavan
{quote} Mike and All, This is perfect example which I am trying to explain for the last few post.... Market some times react as above, during that time our confluences and strategies are not enough to handle.. I am watching market news for the past few months and analyze the chart with respect to news.. Unfortunately my newbie forex knowledge couldn't fine tune the situation as the market sometime react and rest of the time doesn't for the same kind of news.. Adhav

well yes and no, week to week news is just part of what moves the market. technicals work and you are going to be fine if you have an edge

A market like today is different, it blows past key levels and you really just don't want to be getting in front of it, in my eyes

But once this settles we will resume business as usual and this usually leads to BETTER technical opportunities because that's what plays the biggest short term roll

At the end of the day it's ALL about consistency and mgmt. Managing your wins and losses. Sounds simple but most people don't have those game plans built into their trading so each day is like it's own new adventure not part of a larger trading method. People are looking for the perfect solution to all markets it's not about that as much it is about your method being consistent and flexible to the different markets.

This is NOTHING new, i've seen this so many times it doesn't phase me. I know what to do and my job is just to do it. Again i don't want to discourage anything but rather encourage you guys. It can be a lot when you haven't seen these events or know what to do.

Best
Mike
  • #136,638
  • Aug 24, 2015 10:03am Aug 24, 2015 10:03am
Quoting aserbfx
now it is important to use proper money management, stop losses and a general smart investment process. do not predict market actions, let the market do and follow.
bingo
  • #136,639
  • Aug 24, 2015 10:10am Aug 24, 2015 10:10am
Quoting Bladerunn3r
{quote} Fine advice and with regards to the attitude to employ post such a sudden move I agree fully. It is a difficult thing to remain balanced when the market can whip so sharply but the more I trade forex the more i understand the importance of a keeping a level head and not deviating from the plan.
It is so hard for me to keep calm and not give way to despair when I see latest moves, that I missed or exited too early.... August is a month of disappointment for me but on the other hand I got a lot of food fot thought and experience
  • #136,640
  • Aug 24, 2015 10:16am Aug 24, 2015 10:16am
Quoting antisystem
{quote} It is so hard for me to keep calm and not give way to despair when I see latest moves, that I missed or exited too early.... August is a month of disappointment for me but on the other hand I got a lot food fot thougt and experience
Mate I am halfway through a book called 'Trading in the Zone' by Mark Douglas, it really gets to the core of why successful traders are successful..... essentially, attitude. Douglas does have a tendency to ramble a bit and over complicate things when a simpler approach would be more suitable but I am taking some key lessons from it and perhaps you could too.

Maybe worth a look and on the subject of August not meeting your expectations, September comes soon so plenty more opportunities to break your disappointment.
359 traders viewing now