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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

  • #136,761
  • Aug 31, 2015 3:07pm Aug 31, 2015 3:07pm
What about this nice daily trade?
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  • #136,762
  • Aug 31, 2015 4:33pm Aug 31, 2015 4:33pm
Both of the pinbars were green at close,which is why I looked for a retrace.Al
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  • #136,763
  • Edited 11:50pm Aug 31, 2015 6:05pm | Edited 11:50pm
OIL H4. PB. What goes up must come down? If we can trade below 48.00 zone it could be off to the races.

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GBP/CAD H1 IB breakout long. Slow crawl up for some pips. Looking to sell if PA presents at appx. 50% level of D1 BEOVB.

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'Fail to plan, plan to fail'
  • #136,764
  • Aug 31, 2015 7:17pm Aug 31, 2015 7:17pm
Quoting Bones
hey D ,stick with your plan ,I don't know what next at this point ,I hope I'm not looking negative ,end of day its worked out great so far ,nzd is wild thats for sure {quote} {image}
was a lot of these wicks or badly closed almost pinbars across the board. I spoke earlier this weekend how suspicious I was off the sharp reversals we saw

I shorted sgd/jpy sunday and i've been short teh SP500 since last week. If we slide off again things could go quick
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  • #136,765
  • Sep 1, 2015 1:20am Sep 1, 2015 1:20am
Morning guys.

Mike (or anyone else helping run the site and thread) - at what point do you recommend signing up for the site?

The thread is a real beast and, perhaps unsurprisingly, despite the summaries dotted around here and there I'm finding it hard to extract the real key messages.

Is the site more structured?

Thanks
  • #136,766
  • Sep 1, 2015 3:30am Sep 1, 2015 3:30am
My First "serious" live trade on the 4H chart. Selling the pinbar and Hopefully the ISM news is favorable

the price levels are the pivots, I thought there about 50 pips before the FTA but how knows maybe this is the move everyone wants to 0.8000
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  • #136,767
  • Sep 1, 2015 3:44am Sep 1, 2015 3:44am
Quoting contrails
My First "serious" live trade on the 4H chart. Selling the pinbar and Hopefully the ISM news is favorable the price levels are the pivots, I thought there about 50 pips before the FTA but how knows maybe this is the move everyone wants to 0.8000 {image}
I think it's quite risky, given the location and the green close of the pin.

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It's a sport, an artform and a science.
  • #136,768
  • Sep 1, 2015 3:49am Sep 1, 2015 3:49am
Quoting Donaciello
{quote} I think it's quite risky, given the location and the green close of the pin. {image}
that what I thought but when the pin broke convincingly I thought it's time to sell on retrace given FTA is only ~40 pips away
  • #136,769
  • Sep 1, 2015 3:55am Sep 1, 2015 3:55am
EURUSD 2 HR, although the pin isn't great the 2hr chart shows the S & R area where the price turned.

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  • #136,770
  • Sep 1, 2015 4:05am Sep 1, 2015 4:05am
USDJPY 1 HR, S & R area, always worth watching these areas, could be an ideal place for a smaller timeframe trade.

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  • #136,771
  • Sep 1, 2015 6:07am Sep 1, 2015 6:07am
Quoting mbqb11
{quote} was a lot of these wicks or badly closed almost pinbars across the board. I spoke earlier this weekend how suspicious I was off the sharp reversals we saw I shorted sgd/jpy sunday and i've been short teh SP500 since last week. If we slide off again things could go quick {image} {image}
when that slide gets going it can be vicious
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  • #136,772
  • Sep 1, 2015 6:09am Sep 1, 2015 6:09am
Quoting djbenny1
Morning guys. Mike (or anyone else helping run the site and thread) - at what point do you recommend signing up for the site? The thread is a real beast and, perhaps unsurprisingly, despite the summaries dotted around here and there I'm finding it hard to extract the real key messages. Is the site more structured? Thanks
Hey DJ

We're always glad to have new members of course. Yes this thread is a MONSTER and the site is much more organized. Even still though you might want to hold off until the new site(yes the new site is coming lol) which will be even more organized. People get overwhelmed in the PF but were much more hands on where we can help direct you to where things are archived etc.

Feel free to drop me a line too [email protected]

Best
Mike
  • #136,773
  • Sep 1, 2015 7:49am Sep 1, 2015 7:49am
OIL H4. Good profit locked. Moving down nicely with not much standing in the way.

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'Fail to plan, plan to fail'
  • #136,774
  • Sep 1, 2015 8:34am Sep 1, 2015 8:34am
Quoting Guitarbloke
OIL H4. Good profit locked. Moving down nicely with not much standing in the way. {image}
Nice, this time it worked out better & no bear trap.
  • #136,775
  • Sep 1, 2015 12:55pm Sep 1, 2015 12:55pm
Evening all.

I only stumbled across this thread a few days ago, somewhat by accident but wow, all I can say is I'm sold.

I've been using a backtester that lets you "replay" the market and make retrospective trades (somewhat) as if they were live, and the results using this method, despite me being a total novice, are incredible.

I've done it over a period of about 5 months, EURUSD, USDCHF and USDJPY (all D1) and in each test I've had a drawdown of less than 5% and gains of 6-10% on a very crude test (no TP as you get a choice of trailing stop or TP, I chose a 100 pip trail to let winners run) - virtually every losing trade was in profit and would have become a free trade but due to limitations of the test they were losers. Oh, and something else I've noticed is that it seems to be the handful of godly trades that make you your money, the others are just bonuses!

Anyway - I'm going to keep testing and make sure it's not a fluke, and try to hone my eye for the bars.

If anyone is interested, the tool I'm using is the FX Blue Trading Simulator - it's pretty limited but serves a purpose.

Would be interested if anyone else has a better, more flexible alternative!

Thanks
  • #136,776
  • Sep 1, 2015 3:19pm Sep 1, 2015 3:19pm
Quoting djbenny1
Evening all. I only stumbled across this thread a few days ago, somewhat by accident but wow, all I can say is I'm sold. I've been using a backtester that lets you "replay" the market and make retrospective trades (somewhat) as if they were live, and the results using this method, despite me being a total novice, are incredible. I've done it over a period of about 5 months, EURUSD, USDCHF and USDJPY (all D1) and in each test I've had a drawdown of less than 5% and gains of 6-10% on a very crude test (no TP as you get a choice of trailing stop or...
welcome DJ glad to have you

Keep testing and demoing, that's the exact right thing to do. It takes time, it's not a magic bullet here what we do but it works with time and practice

We are here to help when needed

Mike
  • #136,777
  • Sep 1, 2015 3:39pm Sep 1, 2015 3:39pm
Quoting Kershey
Anyone onto this possible EUR/JPY short setup after a W1 outside bar ? {image}
Hi Kershey,Just I would like to share my view of EURJPY ..I hope Price still within channel..
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  • #136,778
  • Sep 1, 2015 4:58pm Sep 1, 2015 4:58pm
Quoting analysttrade
What about this nice daily trade? {image}
Hi analysttrade

I don't think anyone answered this so here is my take on why I would not take this trade. I am sure mike will correct me if I am wrong.

Firstly as you can see you would be trading right on top of traffic in the boxed area.

The candles are very wicky at the top and may act as support.

Price is not at a swing high or low

Trade would be against currant trend

Finaly there is a big number at 1.3000 which could also act as support so not too much room for trade to grow.

I personally would like to see more space for trade to grow, as I said this is only my opinion and others may not agree

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Thank You James16, Fijitrader, Mbqb1, ghous, Pinbar and Jarroo. cpfleger
  • #136,779
  • Sep 1, 2015 8:50pm Sep 1, 2015 8:50pm
CADCHF short
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  • #136,780
  • Sep 2, 2015 12:59am Sep 2, 2015 12:59am
Quoting contrails
CADCHF short {image}
Similar situation on the GBP/CHF.
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