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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

  • #137,941
  • Edited 12:24am Dec 18, 2015 12:08am | Edited 12:24am
Quoting Guitarbloke
AntiS, I'll see you in the PF next year friend. Typing to the relaxing sound at 8.am of some idiot with a leaf blower Whatever happened to the humble broom?
Welcome back, GB! You entered on retrace to BRN, didn't you? Or it was at 4 hour chart? Nice one anyway)
Yep, can't wait next year))
  • #137,942
  • Dec 18, 2015 1:12am Dec 18, 2015 1:12am
Quoting antisystem
{quote} Welcome back, GB! You entered on retrace to BRN, didn't you? Or it was at 4 hour chart? Nice one anyway) Yep, can't wait next year))
Thx AS. Yes entry on daily BEOVB retrace to 1.10000. Market took me out at 1.08500. Seasons greetings.
'Fail to plan, plan to fail'
  • #137,943
  • Dec 18, 2015 1:43am Dec 18, 2015 1:43am
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XAU/usd H1. Counter trend on small PB. Target is supply zone around 1065.00 area. Then will look to short. Tricky so watching closely until I can get SL in profit.
'Fail to plan, plan to fail'
  • #137,944
  • Dec 18, 2015 3:44am Dec 18, 2015 3:44am
Quoting Guitarbloke
Greetings all. I've been a bit quiet as my internet modem is stuffed. Be back posting charts soon. Hi Wellard. S/R levels and BRN's really rock. When I scan charts or even quotes and see price at say .74900 or 1.10160 I get interested. Then if a PPZ and good PA is there, I look at it more closely as a potential trade. Lots of opportunities this week. Can't post chart from phone but took BEOVB 3 days back on E/U short from 1.10000 BRN as confluence with long term downtrend momentum. (Kachiiing!) seasons greetings to all. AntiS, I'll see you in the...
Hi GB and zamfir,

thanks. You wrote you get interested on 1.10160, do you consider even this smal partials as BRN? I thought that BRN are X.xx000 and X.x000, I wasnt looking to X.xxxx0

-well
  • #137,945
  • Dec 18, 2015 3:53am Dec 18, 2015 3:53am
Quoting wellard
{quote} Hi GB and zamfir, thanks. You wrote you get interested on 1.10160, do you consider even this smal partials as BRN? I thought that BRN are X.xx000 and X.x000, I wasnt looking to X.xxxx0 -well
Hi Wellard. Sorry, you are correct. I meant that if I see price very close to a BRN when I'm scanning charts, then I stop and take a closer look to see what price is doing. It does not mean I will take a trade. There must also be good PA and confluence.
'Fail to plan, plan to fail'
  • #137,946
  • Dec 18, 2015 4:04am Dec 18, 2015 4:04am
Quoting Guitarbloke
{quote} Hi Wellard. Sorry, you are correct. I meant that if I see price very close to a BRN when I'm scanning charts, then I stop and take a closer look to see what price is doing. It does not mean I will take a trade. There must also be good PA and confluence.
Hi GB,

it is not what I meant. I mean if you consider X.xxxx0 as BRN (you mentioned 1.10160)? There is lot of them, it is every pip actually.

I thought that BRN is 1.11000 and 1.1000, not small parts on chart like 1.10160.
  • #137,947
  • Dec 18, 2015 4:20am Dec 18, 2015 4:20am
Quoting wellard
{quote} Hi GB, it is not what I meant. I mean if you consider X.xxxx0 as BRN (you mentioned 1.10160)? There is lot of them, it is every pip actually. I thought that BRN is 1.11000 and 1.1000, not small parts on chart like 1.10160.
Yes friend, you r correct .
'Fail to plan, plan to fail'
  • #137,948
  • Dec 18, 2015 1:06pm Dec 18, 2015 1:06pm
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XAU/USDH1 PB/inside bar cluster. Target hit.
'Fail to plan, plan to fail'
  • #137,949
  • Edited 3:26pm Dec 18, 2015 3:06pm | Edited 3:26pm
Hi Mike,

Really interested in what your thoughts are on this box trade.

I posted a zoomed in chart to make it easier to see.

Enter on break, stop above BEOB.

Blue line is fta.

Purple is where I place my stop after FTA is reached.

Yellow is where I take full profit which is middle of the box.

Thanks
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  • #137,950
  • Dec 19, 2015 11:38am Dec 19, 2015 11:38am
Quoting hunzul
Hi Mike, Really interested in what your thoughts are on this box trade. I posted a zoomed in chart to make it easier to see. Enter on break, stop above BEOB. Blue line is fta. Purple is where I place my stop after FTA is reached. Yellow is where I take full profit which is middle of the box. Thanks {image} {image}
Hey Hunzul

This is great stuff you posted. i'll give you some thoughts on what I would do in this situation that will maximize your gains and minimize your losses.

Use the minor PPZ where a retrace of the beob would give you a better entry. You don't have to try to nail it but rather then entering on a break here it makes more sense to enter on the close or on a limit. Now i'm not sure what this chart is but if it's a stock for example you'll want to use a limit order any way so this is a perfect situation. Then as price BREAKS the beob low you can move your stop above the high that is created there. So instead of your stop going where it did with your purple line move it above the bar highs that create that pullback(give a little buffer). I would also want to trade it this way because we do have some trouble at the low of the beob that is your real FTA. This is a situation where you can put yourself in a more favorable spot and also minimize your losses if say price breaks the beob and turns around. Where if you do it my way you'll end up with a tiny loss vs say a 60% loss at your purple line. Those little things can make a huge difference. I'd also take full profit personally at that blue box there.

Again same situation just how i'd have played it, you nailed it the way you did it of course.

Enjoy the weekend
Mike
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  • #137,951
  • Dec 19, 2015 9:59pm Dec 19, 2015 9:59pm
Hi All,

A question for Mike and others who have many experiences of currency trading through Xmas/New Year....

Is it worthwhile during this festive time to trade or is it too unpredictable and volatile?
Are there any unusual dangers to trading for the next few weeks?

Cheers,
Bill
  • #137,952
  • Dec 20, 2015 12:38am Dec 20, 2015 12:38am
Quoting Bill618
Hi All, A question for Mike and others who have many experiences of currency trading through Xmas/New Year.... Is it worthwhile during this festive time to trade or is it too unpredictable and volatile? Are there any unusual dangers to trading for the next few weeks? Cheers, Bill
Next 2-3 weeks(yes a week or two after new year), markets will be dead.

Take a holiday!! you have an entire year for trading..

  • #137,953
  • Dec 20, 2015 10:47am Dec 20, 2015 10:47am
Quoting Bill618
Hi All, A question for Mike and others who have many experiences of currency trading through Xmas/New Year.... Is it worthwhile during this festive time to trade or is it too unpredictable and volatile? Are there any unusual dangers to trading for the next few weeks? Cheers, Bill
Hey Bill

Generally speaking you'll notice liquidity become lighter which can in turn exaggerate things. I don't think it's wrong to trade if you find something nice. Personally I don't do much trading this week and next and just use it as a time to rest, get shopping done , and visit family etc.

So you can, but as Z said it's probably best to shut it down and reset for the new year

Wishing you and the family a happy and healthy one

Mike
  • #137,954
  • Edited 6:23pm Dec 20, 2015 4:43pm | Edited 6:23pm
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G/U M30. PB. Looking for profit around 1.49900 area then will look for PA to possibly go short (retrace of weekly BEOVB). SL 1,48800 .
'Fail to plan, plan to fail'
  • #137,955
  • Dec 20, 2015 6:44pm Dec 20, 2015 6:44pm
I just sent a message out to the group, but it applies just as much here to so many of you all. I mean every word of this


I just wanted to take a moment to send a note out to you all wishing you
happy holidays no matter what you celebrate and a very happy and HEALTHY
new year to each of you and your families

This has been the most difficult year I've faced personally. My GF had 6
surgeries from Feb to May, followed by my fathers emergency open heart
surgery, and most heart breaking my dear friend passing from cancer,
Through it all you have all been so great and supportive and for that I
want to say THANK YOU. I go into the end of this year knowing much more
about myself and life and what truly matters. Spiritually the most
challenging year and yet the most rewarding in many ways.

I appreciate you guys and look forward to the next steps of the group with
a fresh start in the new year. I'll be taking these last couple weeks to
recharge, finish up a bunch of things for the site and spend time with
friends and family. With that said I am ALWAYS reachable and will of
course still be around on the site.

We are about to enter the next chapter for the group but none of it is
possible without you all. I do not take that for granted, ever.

Have a very happy holiday and a very healthy and safe new year!

Mike
  • #137,956
  • Edited 7:50pm Dec 20, 2015 6:52pm | Edited 7:50pm
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Good on you Mike. Same to you and family and to Jim. Thanks for this thread. No time for rest just yet here lol. See if I can jump on a XAU/USD H1 IB cluster break south! EDIT: broke out alright, north. closed trade for a loss.
'Fail to plan, plan to fail'
  • #137,957
  • Dec 20, 2015 7:44pm Dec 20, 2015 7:44pm
Quoting mbqb11
I just sent a message out to the group, but it applies just as much here to so many of you all. I mean every word of this I just wanted to take a moment to send a note out to you all wishing you happy holidays no matter what you celebrate and a very happy and HEALTHY new year to each of you and your families This has been the most difficult year I've faced personally. My GF had 6 surgeries from Feb to May, followed by my fathers emergency open heart surgery, and most heart breaking my dear friend passing from cancer, Through it all you have all...

And to you Mike (and everybody else for that matter) . Thank you for your generosity and kind heartedness. You have been great too . Good luck for 2016!
  • #137,958
  • Dec 20, 2015 8:31pm Dec 20, 2015 8:31pm
Ok, thanks M and Z (sounds like a James Bond movie) for the 'Festive Season Trading' heads-up.
I will suspend live trading tomorrow but keep abreast of things for the rest of the week and next to get out of some housework for learning purposes...

Best wishes to you also Mike and to everyone else here. Looking forward to the PF for sure but for now it's about time with family and friends
Stay safe all. Don't worry, be happy.

Bill
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  • #137,959
  • Dec 21, 2015 5:10am Dec 21, 2015 5:10am
Quoting mbqb11
I just sent a message out to the group, but it applies just as much here to so many of you all. .... Have a very happy holiday and a very healthy and safe new year! Mike

Hello Mike, Thank you for kind words. Indeed you have difficult moments. I hope it will sort out in 2016.

I would also like to thank everybody in the thread for your posting and continuous support. This thread is like a map but everybody must find his own route.
This year was special for me as I can finally understand charts. I am confident with what I see after so many years of study.
It is much worse with discipline but I will work on this in 2016.

Stay safe all.
  • #137,960
  • Dec 21, 2015 7:52am Dec 21, 2015 7:52am
Quoting mbqb11
I just sent a message out to the group, but it applies just as much here to so many of you all. I mean every word of this I just wanted to take a moment to send a note out to you all wishing you happy holidays no matter what you celebrate and a very happy and HEALTHY new year to each of you and your families This has been the most difficult year I've faced personally. My GF had 6 surgeries from Feb to May, followed by my fathers emergency open heart surgery, and most heart breaking my dear friend passing from cancer, Through it all you have all...
Thank you, Mike)
I would like to thank everybody here and wish Happy New Year to you & your families! One of the best thing, that happened this year, was that I found this thread, people who are always ready to help & give some advice. This thread gave me absolutely new view of market, knowledge in price action & attitude towards trading.
Seasons greetings to everybody!!!))))
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