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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

  • #136,701
  • Aug 28, 2015 5:36am Aug 28, 2015 5:36am
Quoting zamfir
Finally got my BE on USDCAD. {image}
update on USD/CAD. Almost there. Nice move after news.

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  • #136,702
  • Aug 28, 2015 6:35am Aug 28, 2015 6:35am
Quoting srt
{quote} I'd be looking to short if price gets a bit higher next week. {image}
Are you not playing the pinbar? Isn't that what J16 is about?

Would appreciate your thoughts and input.
  • #136,703
  • Aug 28, 2015 7:25am Aug 28, 2015 7:25am
Loss after new high in US session, how could it be any different.
Why not set up an daily wire transfer from my account to the US ?
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  • #136,704
  • Aug 28, 2015 7:32am Aug 28, 2015 7:32am
Quoting Kershey
Loss after new high in US session, how could it be any different. Why not set up an daily wire transfer from my account to the US ? {image}
if you want to stop the money wire to US, stop trading on anything less than daily, and take only textbook PA.

Somehow you always come up with worst setups, even a rookie like me wouldn't take them

And one more thing, stop buying/selling on PA at close of the bar. Put orders at high or low. In your case, if you did it, you wouldnt have a loss now.

Look back and see how many bad trades you would have escaped by not entering at close of the PA bar!
Market can stay irrational longer than you can stay solvent.
  • #136,705
  • Aug 28, 2015 7:44am Aug 28, 2015 7:44am
Quoting FXBat
{quote}Somehow you always come up with worst setups, even a rookie like me wouldn't take them

I'm not the only one, who posts regular in this thread and took this trade.
  • #136,706
  • Aug 28, 2015 7:55am Aug 28, 2015 7:55am
Quoting Kershey
{quote} Looks good, I'm in that one too. USD/ZAR: Took small profit after price could not close 4H above yesterdays high. Should have place SL to BE and let it run, but the entry not on a retracement and thus suboptimal. Looking for a new buy at 13.0000
Good stuff Kershey. Keep working on those retracements.
1.02^200
  • #136,707
  • Aug 28, 2015 7:55am Aug 28, 2015 7:55am
Quoting Kershey
{quote} I'm not the only one, who posts regular in this thread and took this trade.
-the close of the bar is nearly in the middle of it. this means that buyers are stepping in. try to look for strong closes. where price closes in the lower 1/3 of the bar.
-price never went under the low of the bar. therefor: no trade trigger.
hope that helps
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meine augen sind die sterne
  • #136,708
  • Aug 28, 2015 7:59am Aug 28, 2015 7:59am
Quoting FXBat
{quote} if you want to stop the money wire to US, stop trading on anything less than daily, and take only textbook PA. Somehow you always come up with worst setups, even a rookie like me wouldn't take them And one more thing, stop buying/selling on PA at close of the bar. Put orders at high or low. In your case, if you did it, you wouldnt have a loss now. Look back and see how many bad trades you would have escaped by not entering at close of the PA bar!
FXBat, there's a time for everything, in the right place. Entries can be anywhere: on close, on break, on retracement, as long as you can justify it to yourself, and have tested that it works. Kershey's doing fine. Small steps, folks! Slow and steady wins the race.


Please, be constructive in your criticism. If you don't like something, suggest a better, and concrete, solution.
1.02^200
  • #136,709
  • Aug 28, 2015 8:53am Aug 28, 2015 8:53am
I agree its a tf issue ,oil could go up a lot from that location

Quoting FXBat
{quote} if you want to stop the money wire to US, stop trading on anything less than daily, and take only textbook PA. Somehow you always come up with worst setups, even a rookie like me wouldn't take them And one more thing, stop buying/selling on PA at close of the bar. Put orders at high or low. In your case, if you did it, you wouldnt have a loss now. Look back and see how many bad trades you would have escaped by not entering at close of the PA bar!
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #136,710
  • Aug 28, 2015 8:55am Aug 28, 2015 8:55am
h4 into large d1
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #136,711
  • Aug 28, 2015 9:01am Aug 28, 2015 9:01am
Quoting Kershey
{quote} Looks good, I'm in that one too. USD/ZAR: Took small profit after price could not close 4H above yesterdays high. Should have place SL to BE and let it run, but the entry not on a retracement and thus suboptimal. Looking for a new buy at 13.0000
Kershey, I quite enjoyed seeing how you drew the trendline on USDZAR 4hr chart. Have you read Thomas Demark? He draws from right to left. If you must know, USDZAR is reaching 100% DeMark's projection. No PA bars to speak of after the break, just one unassuming IB.
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1.02^200
  • #136,712
  • Aug 28, 2015 9:10am Aug 28, 2015 9:10am
begs the question why wire money to US

Quoting Kershey
Loss after new high in US session, how could it be any different. Why not set up an daily wire transfer from my account to the US ? {image}
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #136,713
  • Aug 28, 2015 10:10am Aug 28, 2015 10:10am
Quoting Bones
begs the question why wire money to US {quote}
Its sarcasm, since I observed that over 70% of my losses are in the US session.
  • #136,714
  • Aug 28, 2015 10:35am Aug 28, 2015 10:35am
Quoting d5400
{quote} Kershey, I quite enjoyed seeing how you drew the trendline on USDZAR 4hr chart. Have you read Thomas Demark? He draws from right to left. If you must know, USDZAR is reaching 100% DeMark's projection. No PA bars to speak of after the break, just one unassuming IB. {image}
Hi d5400,

no unfortunately I just heard about him, but dont know details about his teachings.
However on the 1H chart the trendline looks more significant, I should have posted that one also.
And if you take the trendline from the uptrend its a triangle.
I was waiting to trade a breakout of those.
Im normally skeptical with exotics but here I observed a story.
The pair clearly traded through BRN of 13.0000 indicated by a large momentum candle at the week open.
And still there is a 4H uptrend. This in combination with the positive fundamental US GDP data
and a 4H outside bar made me confident to enter long.
However the execution was suboptimal since, I entered on the top of the bar with high spread,
instead on a retrace, which would have allowed smaller risk, better trade management options and higher RR.
Sad to see that it, after the oil loss, nearly reached the first profit target after I got out.

K
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  • #136,715
  • Aug 28, 2015 10:48am Aug 28, 2015 10:48am
Quoting aserbfx
{quote}... hope that helps {image}
Yes its does.


In retrospect it was not so clever to short after this hard D1 candle.
One more range day and I would have taken on the short squeeze box breakout.
Good RR 1:3 in two days also.
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  • #136,716
  • Aug 28, 2015 11:01am Aug 28, 2015 11:01am
lol ,oh right


Quoting Kershey
{quote} Its sarcasm, since I observed that over 70% of my losses are in the US session.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #136,717
  • Aug 28, 2015 11:10am Aug 28, 2015 11:10am
this level is a force to be reckoned with and thats a bullish outside weekly
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #136,718
  • Aug 28, 2015 11:17am Aug 28, 2015 11:17am
thats a 900 pip wick gotta be up for discussion
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #136,719
  • Aug 28, 2015 12:56pm Aug 28, 2015 12:56pm
Setups for the week Aug 24 - 28.

Note : Due to high volatility on monday , there were some IBs and setups which were not suitable to take. Hence very few setups.

Total Net pips = 340.

Total Pips in August = 2400(approx).


Attached File(s)
File Type: zip Aug_24_28.zip   76 KB | 667 downloads
  • #136,720
  • Aug 28, 2015 1:52pm Aug 28, 2015 1:52pm
Quoting Bones
thats a 900 pip wick gotta be up for discussion {image}
hi Bones,
Nice to see you around
Slow & steady
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