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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

  • #136,921
  • Sep 10, 2015 2:16pm Sep 10, 2015 2:16pm
Quoting ChiLL 14
{quote} Okay so I'm staying out of this trade. I would love to wake up tommorow with a "Take Profit Triggered" notification on my phone, but I am not feeling confident in this one. Hope we'll share some thoughts regarding trade opportunities again Kershey! Peace out

I think its a nice pin. The downside in my eyes is the near trouble area at 9.2800.
Presumably I will scale in with a long at 9.1900 and another one after the break.
Both with conservative SL under the low.
  • #136,922
  • Sep 10, 2015 2:20pm Sep 10, 2015 2:20pm
Quoting Guitarbloke
{quote} I was away from the screen Mini. It was set and forget, but I agree, not managed as well as it could've been, but I'm still in the trade for now. There's a bearish PB on the daily now, so I may look at shorting possibilities. But here's a winner below. EUR/AUD H4 buy. Trading the box. {image}

Wow, looks like you squeezed the most possible out of this trade.
May I ask how much did you risk on this one and were your SL was ?
  • #136,923
  • Sep 10, 2015 2:25pm Sep 10, 2015 2:25pm
GPBUSD update
Price reached my TP near weekly s/r.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 23 KB


EURUSD
Closed near my TP, as I'm leaving tomorrow for vacation and won't be able to control my positions.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 37 KB
  • #136,924
  • Sep 11, 2015 1:39am Sep 11, 2015 1:39am
Quoting Kershey
Also on the Euro train with a long in EUR/CAD. Looks like a strong close, after a D1 swing low, to me. But maybe thats just what my eyes/brain want to see. Not the best entry in the world, lets see how it works out. {image}
Ya, not a high grade pin, but tradable if you're nimble. I'd watch it like a hawk when it gets to 1.5000 if I were you because it looks troublesome there.
  • #136,925
  • Sep 11, 2015 1:49am Sep 11, 2015 1:49am
Quoting antisystem
GPBUSD update Price reached my TP near weekly s/r. {image} EURUSD Closed near my TP, as I'm leaving tomorrow for vacation and won't be able to control my positions. {image}
Nice trades. I didn't think of combining 2 daily bars into 2-day bars until I saw your earlier post, and remembered hearing about it from one or two of Mike's webinars as he was answering questions.

I demo-ed it on the GBP/JPY 2-day BUOB and it worked. o_O
But bad trade management meant that instead of taking profit, it bounced off 187.00, reversed hard and took my trade out at BE.
  • #136,926
  • Sep 11, 2015 2:22am Sep 11, 2015 2:22am
EUR/NOK, Im in at TL break.
Looks bullish, since strong 4H close above yesterdays high.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR-NOK.png Size: 56 KB
  • #136,927
  • Sep 11, 2015 3:03am Sep 11, 2015 3:03am
Quoting Kershey
{quote} Wow, looks like you squeezed the most possible out of this trade. May I ask how much did you risk on this one and were your SL was ?
Hey Kershey. EUR/AUD. 27 pip risk. SL under nearest previous low. See if I can grab some pips if it heads back down.
'Fail to plan, plan to fail'
  • #136,928
  • Sep 11, 2015 4:44am Sep 11, 2015 4:44am
Upcoming week's must watch - Sugar.
Picture perfect trendline being retested. There is a Hidden Bearish Divergence that could be a potential sign of downtrend continuation, but I'm also considering trading the TL breakout. There was already a pin bar fail on 3rd September. I'm curious what PA will say.

Have a nice weekend !
Attached Image(s) (click to enlarge)
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Only those who dare to fail greatly can ever achieve greatly. - R. Kennedy
  • #136,929
  • Sep 11, 2015 5:13am Sep 11, 2015 5:13am
mbqb11 Is eurjpy H4 BEEB? On swing high
  • #136,930
  • Sep 11, 2015 5:36am Sep 11, 2015 5:36am
Quoting ChiLL 14
Upcoming week's must watch - Sugar. Picture perfect trendline being retested. There is a Hidden Bearish Divergence that could be a potential sign of downtrend continuation, but I'm also considering trading the TL breakout. There was already a pin bar fail on 3rd September. I'm curious what PA will say. Have a nice weekend ! {image} {image}

Hey Chill you have interesting trade ideas, like in the EUR/NOK before.
Im watching sugar quite a while and just now it traded through this trendline,
making a new monthly high.
But I dont want to hold a long position sugar over the weekend, the interest is terrible.
So waiting for a daily close and retracement entry next week.
  • #136,931
  • Sep 11, 2015 5:53am Sep 11, 2015 5:53am
Quoting Guitarbloke
{quote} Hey Kershey. EUR/AUD. 27 pip risk. SL under nearest previous low. See if I can grab some pips if it heads back down.
Great trade, with great RR.
  • #136,932
  • Sep 11, 2015 8:25am Sep 11, 2015 8:25am
Quoting Kershey
{quote} Hey Chill you have interesting trade ideas, like in the EUR/NOK before. Im watching sugar quite a while and just now it traded through this trendline, making a new monthly high. But I dont want to hold a long position sugar over the weekend, the interest is terrible. So waiting for a daily close and retracement entry next week.
Thanks. Yep, we'll see what we get next week.
Only those who dare to fail greatly can ever achieve greatly. - R. Kennedy
  • #136,933
  • Sep 11, 2015 9:17am Sep 11, 2015 9:17am
Setups for this week - Sep 07 - 11.

Exact BE. Hehe.

Total Net Pips = 0.

Attached File(s)
File Type: zip Sep_07_11.zip   126 KB | 597 downloads
  • #136,934
  • Sep 11, 2015 1:52pm Sep 11, 2015 1:52pm
Oil. H1 IB-Consolidation breakout. Profit locked in. NB: My original TP was lower at red line S/R zone. I moved TP closer to a less greedy more realistic area after price reached it. Closing this trade now as I don't think it's wise to hold a small oil trade over weekend. BE = No loss Z! Have a gr8 weekend everyone.

Attached Image (click to enlarge)
Click to Enlarge Name: OILUSDH1 12915.png Size: 36 KB
'Fail to plan, plan to fail'
  • #136,935
  • Sep 12, 2015 12:11am Sep 12, 2015 12:11am
Quoting zamfir
Setups for this week - Sep 07 - 11. Exact BE. Hehe. Total Net Pips = 0. {file}
Thanks Zamfir for the weekly setups quite bad trading week for me, many rangebounds, very few good signals. I'm hoping things will change after next week's US rate announcement.
Market can stay irrational longer than you can stay solvent.
  • #136,936
  • Edited 1:21am Sep 12, 2015 1:20am | Edited 1:21am
Quoting FXBat
{quote} Thanks Zamfir for the weekly setups quite bad trading week for me, many range bounds, very few good signals. I'm hoping things will change after next week's US rate announcement.
You're joking right? Few signals?

Here is the missed signal of last week, EURJPY, also on AUDCAD, AUDCHF, AUDJPY, AUDUSD, CHFJPY, EURUSD, GBPJPY, USDJPY

And that was Monday

On Wednesday a great Pin Bar on EURCAD
Attached Image (click to enlarge)
Click to Enlarge Name: 12-09-2015 6-13-04 PM.png Size: 108 KB
It takes a lot for me to IGNORE you, but you can try.
  • #136,937
  • Sep 12, 2015 5:18am Sep 12, 2015 5:18am
Hello all,

I've added pivots to my charts in MT4, and they look fine when it's on the hourly or 4 hour chart, but as soon as I go to the daily, it is extremely cluttered (picture attached). How do you all handle it when switching between the various time frames? Do you not use the support and resistance pivots (i.e. S1, S2, R1, R2 etc) and only have the daily, weekly and monthly main pivot line in there or some other combination?

Any help would be appreciated.

Thanks,
Gary
Attached Image (click to enlarge)
Click to Enlarge Name: Image.jpg Size: 175 KB
  • #136,938
  • Sep 12, 2015 5:22am Sep 12, 2015 5:22am
Quoting Erebus
{quote} You're joking right? Few signals? Here is the missed signal of last week, EURJPY, also on AUDCAD, AUDCHF, AUDJPY, AUDUSD, CHFJPY, EURUSD, GBPJPY, USDJPY And that was Monday On Wednesday a great Pin Bar on EURCAD {image}
Yeah, i missed Monday unfortunately, i noticed later that all those IBs have been very profitable!

For next week, there is a similar IB on GBPNZD. Do you consider taking it?
Market can stay irrational longer than you can stay solvent.
  • #136,939
  • Sep 12, 2015 10:42am Sep 12, 2015 10:42am
Quoting foxtrot2k5
Hi all, GBPJPY D1 had a PB which actually didn't work out. What was the main issue in that setup here? Not enough space in the left or not enough retrace from EMA 365 to make it swing high PB? Thanks! {image}
Hi! I admit the setup was nice, 38.2 retracement on the fib and what seemed to be a nice resistance area. However, if you go up to the weekly charts, there is a much clearer pivot line, and then you might have adjusted your resistance line lower. That done, you will see the pin bar had formed above the resistance line (essentially it's upon a new support), and there's this kind of apprehension about selling on a low. Also, I have my EMA set on 50, and on the H4 the daily Pin Bar's children bars sort of found that as a support as well. So there would be a lower chance of reversal. I could be wrong, and this is all based on hindsight bias, but that's just my take on it. To be fair, I would've taken that trade as well, but somehow I missed the formation?
  • #136,940
  • Sep 12, 2015 5:35pm Sep 12, 2015 5:35pm
Quoting tehmac
Hello all, I've added pivots to my charts in MT4, and they look fine when it's on the hourly or 4 hour chart, but as soon as I go to the daily, it is extremely cluttered (picture attached). How do you all handle it when switching between the various time frames? Do you not use the support and resistance pivots (i.e. S1, S2, R1, R2 etc) and only have the daily, weekly and monthly main pivot line in there or some other combination? Any help would be appreciated. Thanks, Gary {image}
Check out these FREE pivots - yes, just run the daily pivots on 15M and 1H, run the Month + Weekly Pivots on 4H and Daily

I can see clearly now !!!
It takes a lot for me to IGNORE you, but you can try.
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