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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

  • #137,261
  • Oct 12, 2015 10:14am Oct 12, 2015 10:14am
Quoting riekus
Hi There, i am stil in my early stage of forex. Read alot about james16 and this tread, going trough this tread the comming weeks, its a long read . Is the 'private' paid group/course of james16 still available and active? What course/mentor do you guys recommend trading PA of daily?
Hey Riekus

Welcome to the forum glad to have you. Yes the group is still very much around an active but as alphac said we are revamping the site and that's not far off. More details will be shared soon. So we'd love to have you whenever but being new I always like to suggest people hang around here. Spend a few months going through and seeing how things fit with you and if you decide to join after that we'd love to have you

As always if you have any questions just let us know

Mike
  • #137,262
  • Oct 12, 2015 10:14am Oct 12, 2015 10:14am
A little late on the entry , but BE now.

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  • #137,263
  • Oct 12, 2015 11:51pm Oct 12, 2015 11:51pm
Got my BO in the morning...BE now.

EURCAD.

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  • #137,264
  • Oct 13, 2015 1:39am Oct 13, 2015 1:39am
Quoting riekus
Hi There, i am stil in my early stage of forex. Read alot about james16 and this tread, going trough this tread the comming weeks, its a long read . Is the 'private' paid group/course of james16 still available and active? What course/mentor do you guys recommend trading PA of daily?
Learn the basics. And by all means the basics! :-)
I can recommend you to start at http://www.babypips.com/school

- Know the basics PA patterns (Engoulfing bars, Pinbars)
- Know the most basic technical patterns (Double bottom/top, Flag, Cup, Wedge etc.)
- Know the most basic indicators (EMA, Fibo, MacD)

If you want to trade only based on price - this is all what you have to know.
Then it's more about figuring out your style. (Which timeframe, do you like breakouts, or fade pullbacks etc.) Reading threads and forums wont help. You will have to do your own work to figure out what style suits you. Reading too much garbage at forums will only confuse you and make you stuck in their "little box"...

Stephen
It's all psychology...
  • #137,265
  • Oct 13, 2015 1:53am Oct 13, 2015 1:53am
Quoting Alex2877
Hi All !!! I*m new here, but not new in trading. Thanks for your help in study of PA. Have a question about PB on GC chart - why it fialed? what*s wrong with it ? I think, maybe it is tiny bar compared to previus bulish bars ( rally ) or, maybe shadow not enoug sticking out...... {image}
10 people will have 10 different opinion.
Read this post because it is very similar in problem.

http://www.forexfactory.com/showthre...97#post8528297
It's all psychology...
  • #137,266
  • Oct 13, 2015 3:32am Oct 13, 2015 3:32am
Quoting zamfir
Got my BO in the morning...BE now. EURCAD. {image}
Hi Z,

do I read chart correctly? Do you mean 8H BUOB (attachment)?

Thanks, pls keep posting your trades, it is very inspirational for me (even I am not responding in thread too much).
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  • #137,267
  • Oct 13, 2015 3:35am Oct 13, 2015 3:35am
Thanks for your answear, guys! Seems I understud something, at least now I see right direction.
  • #137,268
  • Oct 13, 2015 3:49am Oct 13, 2015 3:49am
Quoting wellard
{quote} Hi Z, do I read chart correctly? Do you mean 8H BUOB (attachment)? Thanks, pls keep posting your trades, it is very inspirational for me (even I am not responding in thread too much). {image}
Hey Wellard,

This is not your conventional setup. you could see the triangle range forming and giving early clues(pinbar on minor TL) to direction of breakout. So my entry came after that Pin.

These kind of setups depend on how trader approaches the context(Similar to Mike style). I would not suggest trading this way , if your are not confident in reading PPZs/TLs/Chart patterns.
  • #137,269
  • Oct 13, 2015 4:07am Oct 13, 2015 4:07am
Quoting Guitarbloke
AUD/JPY D1 buovb. {image} Took profit locked in as price reversed.

EUR/AUD H4 IB Breakout. Aggressive entry. {image}
Stopped out for a loss.
'Fail to plan, plan to fail'
  • #137,270
  • Oct 13, 2015 4:15am Oct 13, 2015 4:15am
Quoting zamfir
{quote} Hey Wellard, This is not your conventional setup. you could see the triangle range forming and giving early clues(pinbar on minor TL) to direction of breakout. So my entry came after that Pin. These kind of setups depend on how trader approaches the context(Similar to Mike style). I would not suggest trading this way , if your are not confident in reading PPZs/TLs/Chart patterns.
Thanks for explanation. I am not trying to trade this way and not intraday, I was just asking if I understand it right.

I continue with your Daily strategy (10.000x one kick, remember) :-)
  • #137,271
  • Oct 13, 2015 5:39am Oct 13, 2015 5:39am
Did anyone take this D1 Pin Bar on WTI? I thought it was a pretty good location for PA. I missed it, I just didn't see it in time
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  • #137,272
  • Oct 13, 2015 6:17am Oct 13, 2015 6:17am
GBPCAD 4hr BEOB at 2.00 BRN. The box it's in makes it a non starter for me with support not far away.

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  • #137,273
  • Oct 13, 2015 6:30am Oct 13, 2015 6:30am
GBPCAD 1HR, if you wanted to risk a trade based on the 4hr OB you could always use the box midpoint S & R area as a place for a stop loss once the OB low is broken.

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  • #137,274
  • Oct 13, 2015 7:29am Oct 13, 2015 7:29am
Quoting alphac
GBPCAD 1HR, if you wanted to risk a trade based on the 4hr OB you could always use the box midpoint S & R area as a place for a stop loss once the OB low is broken. {image}
Nice!
  • #137,275
  • Oct 13, 2015 8:16am Oct 13, 2015 8:16am
Price approaching FTA , so we BE.

AUDJPY

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  • #137,276
  • Oct 13, 2015 9:23am Oct 13, 2015 9:23am
Quoting alphac
GBPCAD 1HR, if you wanted to risk a trade based on the 4hr OB you could always use the box midpoint S & R area as a place for a stop loss once the OB low is broken. {image}
GBPCAD 15 min, after a retrace there was another BEOB on an S&R area then price hits the bottom of the box. Now looking for a long at support.

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  • #137,277
  • Oct 13, 2015 9:58am Oct 13, 2015 9:58am
Quoting zamfir
Got my BO in the morning...BE now. EURCAD. {image}
Inspirational trading Z!
  • #137,278
  • Oct 13, 2015 10:05am Oct 13, 2015 10:05am
Quoting wellard
{quote} I continue with your Daily strategy (10.000x one kick, remember) :-)
If it not closed information, where I can learn more about this Daily strategy ???
  • #137,279
  • Edited 12:45pm Oct 13, 2015 12:15pm | Edited 12:45pm
Quoting Alex2877
{quote} If it not closed information, where I can learn more about this Daily strategy ???
Hi Alex,

it is not secret at all. It started with this zamfir`s post: http://www.forexfactory.com/showthre...82#post8412182

You can see description of strategy is simple, almost minimalistic :-) :
1) entry on break of PA bars
2) target is FTA

1) If you are new to forex, PA bars are Price Action bars (pin bars, inside bars, outside bars). You can find their description in this document: http://www.forexfactory.com/attachme...mentid=1700544

They seems easy to spot, but they need some fine tuning (e.g. dont take bullish/green pin bars when looking for bearish trade and other way around etc. etc.). I recommdn backtesting and you will see differences between setups of same PA bar.

You want this PA bars to be formed in logical areas (Support/Resistance areas, Trend line or Big numbers).

2) FTA is First Trouble Area, which is area where price can turn in opposite direction than you want. This area is again S/L area, Trend line or Big number.

This strategy is good for Daily setups.

And now best part, zamfir was trading this strategy for 8 weeks and posted all his trades after every week. You can find setups here:
http://www.forexfactory.com/showthre...33#post8424233
http://www.forexfactory.com/showthre...25#post8437125
http://www.forexfactory.com/showthre...87#post8449387
http://www.forexfactory.com/showthre...98#post8462998
http://www.forexfactory.com/showthre...85#post8474085
http://www.forexfactory.com/showthre...56#post8484456
http://www.forexfactory.com/showthre...29#post8497429
http://www.forexfactory.com/showthre...37#post8509737

I choose this strategy because it is
1) simple enough to understand basic rules (but not easy to master them :-( )
2) fits to my time after work (it take me 1 hour to go through 20-30 pairs and spot PA bars and draw S/L lines)

I want to start post my own setups, but for now they arent so good as zamfir`s was. So I keep training by myself for a while.

Hope it helps!
  • #137,280
  • Oct 13, 2015 2:04pm Oct 13, 2015 2:04pm
Hi Wellard, Thanks a lot! It*s very interesting aproach for me. I going to learn it closely.
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