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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

  • #138,261
  • Jan 15, 2016 3:14am Jan 15, 2016 3:14am
Quoting incognito517
{quote} Hey GB, in all honestly Im quite ignorant when it comes to using multi TF analysis. Although, I would agree that from the weekly view of things shorting this pair now doesnt look like a good idea. Combine that with playing the ret instead of the break and its even riskier. Are you referring to Jarroos method by any chance? If not, can you tell me more regarding price not closing below last weeks bullish bar? Or is there some place on the PF that I can get more info?
Sorry if I stressed u a little there buddy lol. The trade might still be good, but cutting it fine. My observation is sure influencedby Jarroo's talk of multi TF analysis and trading these diff levels, but I'm still exploring so no hard data to present u except that we know monthly trumps weekly which trumps daily etc, etc. in many cases. p.s., I still would've played the ret. (look in Zikotrade/jaroo forum at the sticky for videos).
'Fail to plan, plan to fail'
  • #138,262
  • Jan 15, 2016 3:19am Jan 15, 2016 3:19am
Im not gonna ask someones statement lol but im courious how is the new site,
some honest feedback please from the lifetime members would be welcome.

How's the trading calls going...?
Whats new..?
Whats the same..? ...itc
  • #138,263
  • Jan 15, 2016 3:36am Jan 15, 2016 3:36am
Quoting Guitarbloke
{quote} Sorry if I stressed u a little there buddy lol. The trade might still be good, but cutting it fine. My observation is sure influencedby Jarroo's talk of multi TF analysis and trading these diff levels, but I'm still exploring so no hard data to present u except that we know monthly trumps weekly which trumps daily etc, etc. in many cases. p.s., I still would've played the ret. (look in Zikotrade/jaroo forum at the sticky for videos).
Hey no worries, GB. I accept the risk... no stress here. If I get it wrong the market must prove it to me by knocking me out... not panicking and moving stops anymore. Haha.
BTW I appreciate all the help/advice I get from you. And thanks I will take a look at it this weekend.
  • #138,264
  • Jan 15, 2016 3:57am Jan 15, 2016 3:57am
Quoting incognito517
{quote} Hey no worries, GB. I accept the risk... no stress here. If I get it wrong the market must prove it to me by knocking me out... not panicking and moving stops anymore. Haha. BTW I appreciate all the help/advice I get from you. And thanks I will take a look at it this weekend.
Same.
'Fail to plan, plan to fail'
  • #138,265
  • Jan 15, 2016 4:12am Jan 15, 2016 4:12am
Quoting Guitarbloke
{quote} 1000 BRN area too Luv? If weekly closes above support, will you be looking for longs? Or are u already in long on smaller TF PA? Thanks, GB.
Hey GB,

I don’t use to take BRN into factor at all in my trading (but it is some kind of confluence).

I didn’t buy as touch at that level, just wanted to point out an area which we should look at, I still think price will break that level to the down side, it doesn’t look that level is strong enough since price had just broke very significant levels.

I won’t take any longs here even if we will get a PB, as I had written we have major areas above us (more as a zone), marked on the chart in Black.

Price closing as PB on the weekly can be very tricky in my view.

Take care,
LM
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  • #138,266
  • Jan 15, 2016 4:22am Jan 15, 2016 4:22am
Cheers LM. And thanks for your chart.

WIPG # 2 lol. EUR/CHF H4 PB. Using Jims WIPG teachings, I set a limit order which price retraced to, to the PIP! Basic stuff for many, but geez, this opens things up for me. I'll always shop at Jims. "Trading on a whim? Go see Jim"

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'Fail to plan, plan to fail'
  • #138,267
  • Jan 15, 2016 4:25am Jan 15, 2016 4:25am
Quoting Guitarbloke
Cheers LM. And thanks for your chart.
No problem my friend
  • #138,268
  • Jan 15, 2016 5:15am Jan 15, 2016 5:15am
Quoting incognito517
First trade for the week here. EURGBP D1 PB. Entered on a ret so that I can better manage my trade should 0.75 BRN come into play. TP at FTA. Have a nice weekend all. {image}
I was kicked out, after entered on retrace...
  • #138,269
  • Jan 15, 2016 5:15am Jan 15, 2016 5:15am
GB, I'm not sure about WIPG, but just wanted to let you know that you might be heading towards a support area...

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  • #138,270
  • Jan 15, 2016 6:05am Jan 15, 2016 6:05am
Quoting JohnnyHyde
GB, I'm not sure about WIPG, but just wanted to let you know that you might be heading towards a support area... {image} {image}
Hey Johnny. Thanks for your comments and charts. You are correct. I see that zone and will look to grab some profit at top of zone or deeper into it at the ema. Although at the moment price seems to be going the other way lol.

WIPG is Where is price going? An exercise Jim has a video on. I'm sure it's in the J16 guest area if ur interested. Take it easy friend.
'Fail to plan, plan to fail'
  • #138,271
  • Edited 6:38am Jan 15, 2016 6:09am | Edited 6:38am
Quoting antisystem
{quote} I was kicked out, after entered on retrace...
Hey Anti I'm not knocked out YET. It missed my SL by 1.7 pips.
Edit: Okay now I'm stopped out.
  • #138,272
  • Jan 15, 2016 6:37am Jan 15, 2016 6:37am
Sigh! There's so much negativity and pessimism on FF. I feel sick to my stomach just reading the drivel. Sometimes I feel it's better not to come on here at all.
Jim, a lot of people are going about opening threads just to slander you. You ought to ban them from here lest they come and contaminate this thread too.
  • #138,273
  • Jan 15, 2016 10:22am Jan 15, 2016 10:22am
Here's a loss I took this morning. Trade was working well but couldn't get price down with the spreads. Remember your bid/ask dynamics!

8hr beob, beautiful PPZ, and BRN to our back, + clean TL. Was hoping for a larger move so ended up with a 1/3 bar loss

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  • #138,274
  • Edited 1:49pm Jan 15, 2016 1:18pm | Edited 1:49pm
EUR/GBP M30 BUOVB. Closing this one soon.

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'Fail to plan, plan to fail'
  • #138,275
  • Jan 15, 2016 1:36pm Jan 15, 2016 1:36pm
Quoting Guitarbloke
EUR/GBP M30 BEOVB. Closing this one soon. {image}
Which bar are you referring to GB? The bar arrowed? or the bar at the top? neither are BEOVB
  • #138,276
  • Jan 15, 2016 1:50pm Jan 15, 2016 1:50pm
Quoting alphac
{quote} Which bar are you referring to GB? The bar arrowed? or the bar at the top? neither are BEOVB
Sorry Alphac, thanks. BUOVB edited. Early morning here. Was just preparing my excel spreadsheet financial statement. Have a beaut weekend my friend.
'Fail to plan, plan to fail'
  • #138,277
  • Jan 15, 2016 1:57pm Jan 15, 2016 1:57pm
Yes and you, on my chart it's a DBLHC, nice trade all the same.
  • #138,278
  • Edited 4:46pm Jan 15, 2016 2:26pm | Edited 4:46pm
Disappointed i missed this one. Mega disappointed. Been waiting for days and while i had my back turned....ka-bang!
This is the perfect set-up for me. It is the way i trade shares and is so familiar to me - advancing price reaching new highs in X number of days, then having a "rest" before continuing the advance. So easy. I feel all warm and fuzzy when viewing this chart.
Oh well, next time. It's been a good day and week all the same.

Hope you all had profitable and fun weeks. There were opportunities aplenty and by the way the week is finishing, next week promises more of the same. 3 things i have focused on which have helped me this week:
1. Using the K.I.S.S. system.
2. Avoiding "analysis paralysis".
3. Follow the rhythm. It is so much easier to "go with the flow" then it is to fight against the current.

Have a good weekend all
Bill
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  • #138,279
  • Jan 15, 2016 6:44pm Jan 15, 2016 6:44pm
Quoting Guitarbloke
{quote} For me, price had already traded past my understanding of PPZ at around 0.65000. (Or do u mean the 0.6425 area?) Once price closed below this zone, broke away, came back and retested, I was in. If I had 50 grand on this I'd likely be taking less pips off the table and would've closed trade earlier. I'd reckon at that amount, 10, 20 pip trades would be plenty in the bank. Good question Alphac. Edit: chart. Yep, absolutely. Could be a problem. A few pips made either way. {image}
Long time since my last post. Thougth I'd share how I played it.

I wanted to short the TL breakout on a retest at 0.66130, but the level wasn't reached, insted there was an inside day failure on the 1H.
I shorted that and then tried to add to the position 4 times on retraces and PA on 5M/15M, two were too early and were stopped out, the other two were good. The ones that got stopped out were a couple of 15M bars before the second and third arrow.
My target was 0.6430, last swing's low and low of the inside month.
Got out with an average of +5R
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  • #138,280
  • Jan 16, 2016 4:22am Jan 16, 2016 4:22am
Quoting lenrod
{quote} Long time since my last post. Thougth I'd share how I played it. I wanted to short the TL breakout on a retest at 0.66130, but the level wasn't reached, insted there was an inside day failure on the 1H. I shorted that and then tried to add to the position 4 times on retraces and PA on 5M/15M, two were too early and were stopped out, the other two were good. The ones that got stopped out were a couple of 15M bars before the second and third arrow. My target was 0.6430, last swing's low and low of the inside month. Got out with an average...
Good job Lenny. Them trend lines can come in handy.

Next week will yield more pips Bill to be sure.

L8tr.
'Fail to plan, plan to fail'
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