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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

  • #139,461
  • Aug 8, 2016 6:49pm Aug 8, 2016 6:49pm
Quoting alphac
{quote} Thank you. At the end of the day neither are, I don't really get hung up on either. With the win rate, I'm more interested in being consistantly profitable than how many trades win. With RR, I'll never turn a trade down because of the RR, RR within a trade should be treated as something that's dynamic, I don't have rigid stops, or take profits for that matter, I'm always prepared to move both and get out of a trade profit or loss. I'm hugely impatient, I can't set a trade up and let it run for days, I want to be out as soon as I can and...
Thanks for the reply, Alphac. Very clarifying the concept of "your own style".
I have also learning and use the "dynamic SL" from Mike. It seems uncomfortable, but very useful!!
Once a month I review some results of operations as "win rate" and "W / L rate". For me it is important to maintain a balance between the two rates. When one is "unbalanced", I put attention on it for operations next month. And when they are balanced, try to improve one of them.
Newbie trader
  • #139,462
  • Aug 9, 2016 8:10am Aug 9, 2016 8:10am
Nice are to watch on EUR/AUD,

1.45 round number
nice ppz area
divergence
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  • #139,463
  • Aug 10, 2016 12:27am Aug 10, 2016 12:27am
Quoting Fxchap
Nice are to watch on EUR/AUD, 1.45 round number nice ppz area divergence {image}
Yes, I think it is going to be a nice trade, however, i am a little bit confused about the entry setup, where should we enter, because in daily we have a nice insider bar, and today's bar seems also forming another inside bar.

I am wondering if entry will be like this at the high of 2 previous days @1.45975 which will make RR ratio not very good.

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Or at the high of the insider bar which is going to provide us with a better RR ratio.

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Thanks
  • #139,464
  • Aug 10, 2016 5:40am Aug 10, 2016 5:40am
EURJPY 15 minute, great 2 bar pinbar, didn't catch it.

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  • #139,465
  • Aug 10, 2016 7:48am Aug 10, 2016 7:48am
Quoting alphac
EURJPY 15 minute, great 2 bar pinbar, didn't catch it. {image}
Nice area to short
  • #139,466
  • Aug 10, 2016 7:49am Aug 10, 2016 7:49am
Quoting mjadid
{quote} Yes, I think it is going to be a nice trade, however, i am a little bit confused about the entry setup, where should we enter, because in daily we have a nice insider bar, and today's bar seems also forming another inside bar. I am wondering if entry will be like this at the high of 2 previous days @1.45975 which will make RR ratio not very good. {image} Or at the high of the insider bar which is going to provide us with a better RR ratio. {image} Thanks
I personally dont trade inside bars

The perfect scenario would be a BUOB with a close above 1.45
  • #139,467
  • Aug 10, 2016 12:21pm Aug 10, 2016 12:21pm
Quoting mbqb11
Hope everyone had a great weekend I find the indices really interesting again this week. SP is pushing into the highs and showing nice divergence. Dow formed a wick type bar closing under the all time highs. Maybe a dow 18500 and SP 2180 reversal situation? {image}
anyone else jump into the shorts?

I still think we could see even another retest of 2180 . The bulls want to prop this up each time, but I still see more downside risk then upside. I could be wrong of course
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  • #139,468
  • Aug 10, 2016 12:47pm Aug 10, 2016 12:47pm
Quoting mbqb11
{quote} anyone else jump into the shorts? I still think we could see even another retest of 2180 . The bulls want to prop this up each time, but I still see more downside risk then upside. I could be wrong of course {image}
I assume you're watching the Nasdaq 100 to Mike, starting to look interesting.
  • #139,469
  • Aug 10, 2016 1:47pm Aug 10, 2016 1:47pm
Quoting alphac
{quote} I assume you're watching the Nasdaq 100 to Mike, starting to look interesting.
Hey Alphac

I got short sunday the dow and sp

yesterday the nasdaq had a perfect fake breakout play that mimicked the sp500. Because of that I just watched assuming it would pull my trades with it

will see how far we can get pulled.
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  • #139,470
  • Aug 10, 2016 2:33pm Aug 10, 2016 2:33pm
Quoting Fxchap
{quote} I personally dont trade inside bars The perfect scenario would be a BUOB with a close above 1.45
Fxchap the perfect scenario IMO would be a pinbar that has the low under 1.44 and the close above 1.45
Mike are you short at S&P from the low of the pinbar or there are other reasons to take that trade?
  • #139,471
  • Aug 10, 2016 2:44pm Aug 10, 2016 2:44pm
Quoting mbqb11
{quote} Hey Alphac I got short sunday the dow and sp yesterday the nasdaq had a perfect fake breakout play that mimicked the sp500. Because of that I just watched assuming it would pull my trades with it will see how far we can get pulled. {image}
Last month looked like a final push up on them to me, I think the rollovers will continue. Those highs and the lows on 10 year bonds somethings got to give.
  • #139,472
  • Aug 10, 2016 9:25pm Aug 10, 2016 9:25pm
anyone watch EURAUD? H4 BUOB and close above 1.45 now.
  • #139,473
  • Edited 4:40am Aug 11, 2016 2:48am | Edited 4:40am
Quoting forexlife
anyone watch EURAUD? H4 BUOB and close above 1.45 now.
Not actually. The news effects AUD.
  • #139,474
  • Aug 11, 2016 3:10am Aug 11, 2016 3:10am
^^^This guy is spamming all over the forum, don't click his link.
  • #139,475
  • Aug 11, 2016 3:46am Aug 11, 2016 3:46am
Quoting Maklla
Daily BEOB with broken demand level, looking for a short {image}
BEOB again paid me
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  • #139,476
  • Edited 6:05am Aug 11, 2016 4:07am | Edited 6:05am
Quoting forexlife
anyone watch EURAUD? H4 BUOB and close above 1.45 now.
Watching it, but it couldnt close above previous swing high on the 4hr
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  • #139,478
  • Aug 11, 2016 7:19am Aug 11, 2016 7:19am
Check it H4 BUOB
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  • #139,479
  • Aug 11, 2016 7:57am Aug 11, 2016 7:57am
How to better understand support and resistance video uploaded to youtube from this weeks webinar

Inserted Video


I'd like to post this chart with it too

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Enjoy
Mike
  • #139,480
  • Aug 11, 2016 8:15am Aug 11, 2016 8:15am
Quoting mbqb11
How to better understand support and resistance video uploaded to youtube from this weeks webinar https://youtu.be/x-ONMOyYEeA I'd like to post this chart with it too {image} Enjoy Mike
Awesome info as always.

Thx Mike !
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