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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

  • #139,521
  • Aug 22, 2016 2:15pm Aug 22, 2016 2:15pm
Quoting mbqb11
{quote} Hey Chap That first 4hr buob didn't close above the TL, so I used the next hourly close(which was also another aggregated 4hr buob) to take the trade. I always want to make sure i'm above/below my area Best Mike
Hey Mike,

I was talking about the GBP/NZD chart, as in entering on the red line (pivotal area)

Thanks.
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  • #139,522
  • Aug 23, 2016 5:16am Aug 23, 2016 5:16am
Quoting mbqb11
How are all my friends doing I know I've been not so active, apologies for that Was a tough week in the markets I felt. I had a losing week, but just gotta keep applying your edge. I've said it all year long this is NOT an easy trading year in my opinion. Obviously depending on your style or method it may be. But from my view point this is one of the tougher years I can remember.
Hello and welcome back!

It's some years (from 2013) I see my own price action trading slowly losing edge. I think this is due to the new, quantitative oriented ways to trade Forex, ways that tend to create a less exploitable market.
This compounds and gets worsened by the diminished markets volatility of the last years.

I guess you and your fellow colleagues keep a record about your own edge success rate.

Are you experiencing the same phenomenons I do? Have you found a "cure" to counter what I have found to be a slow but sure statistical edge "erosion"?

Thank you for your attention,
Dario
  • #139,523
  • Aug 23, 2016 9:26am Aug 23, 2016 9:26am
Quoting Maklla
Mike what you think about that pinbar ? {image}
I am trading the pinbar and it seems to be failing.
  • #139,524
  • Edited 12:54pm Aug 23, 2016 10:11am | Edited 12:54pm
NZDCAD Daily. Personally would have liked the pin higher and closing just below the 0.95 level.

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  • #139,525
  • Aug 23, 2016 2:21pm Aug 23, 2016 2:21pm
Quoting dfumagalli
{quote} Hello and welcome back! It's some years (from 2013) I see my own price action trading slowly losing edge. I think this is due to the new, quantitative oriented ways to trade Forex, ways that tend to create a less exploitable market. This compounds and gets worsened by the diminished markets volatility of the last years. I guess you and your fellow colleagues keep a record about your own edge success rate. Are you experiencing the same phenomenons I do? Have you found a "cure" to counter what I have found to be a slow but sure statistical...

Hey Dario

I always see fluctuations but I find this year to be incredibly difficult. I'm only about halfway of where i'd usually expect/hope to be at this time. This is an incridbly tough year to trade the markets in my opinion. So I think you have to figure out if it's just your edge or is it market conditions and you have to ride the storm. Big huge drawdowns would be a sign of a bigger issue vs just having an off few months/year is not necessarily the case

Hope you are well
Mike
  • #139,526
  • Aug 23, 2016 2:22pm Aug 23, 2016 2:22pm
Quoting mbqb11
this is my top chart going into next week Simple boxing right around the 13.500. Will watch for breakouts and failures at the highs. Just waiting for good PA to show us where it wants to go. But as I said a few posts above this market is acting very nice and that's always easier to trade what are you guys watching? I'll post more this week too Mike {image}
caught a big one on this one, but like so many pairs it overshot the support more than I'd hope

I used an 8hr buob as my entry, i think the prime minister got arrested that sparked it off nice

I think we have much more upside into 14.5 too but with these markets too much profit to give back up
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  • #139,527
  • Aug 23, 2016 2:44pm Aug 23, 2016 2:44pm
Quoting Fxchap
{quote} Hey Mike, I was talking about the GBP/NZD chart, as in entering on the red line (pivotal area) Thanks. {image}

Hey Chap

Since we closed just above it I didn't want to nit pick too much. We were close enough especially with the spread(buying at the ask price). Yes it would have been better to catch a better entry but I don't always nit pick exact if I feel liek a market might take right off.


Hope that helps
Mike
  • #139,528
  • Aug 23, 2016 4:30pm Aug 23, 2016 4:30pm
Quoting mbqb11
{quote} caught a big one on this one, but like so many pairs it overshot the support more than I'd hope I used an 8hr buob as my entry, i think the prime minister got arrested that sparked it off nice I think we have much more upside into 14.5 too but with these markets too much profit to give back up {image}
nice trade Mike I just short that H4 BEOB at daily supply zone
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  • #139,529
  • Aug 23, 2016 5:11pm Aug 23, 2016 5:11pm
Quoting Maklla
{quote} nice trade Mike I just short that H4 BEOB at daily supply zone {image}
I was looking at it too.. the issue of not closing below 0.73 made me pass on it.(im really picky..I know hehe)

Looking great now..good luck !!
  • #139,530
  • Aug 23, 2016 5:13pm Aug 23, 2016 5:13pm
Quoting mbqb11
{quote} Hey Chap Since we closed just above it I didn't want to nit pick too much. We were close enough especially with the spread(buying at the ask price). Yes it would have been better to catch a better entry but I don't always nit pick exact if I feel liek a market might take right off. Hope that helps Mike
Yeah sometimes u miss the trade by trying to pin point your entry too much.

Nice trade !!
  • #139,531
  • Edited Aug 24, 2016 3:31am Aug 23, 2016 9:38pm | Edited Aug 24, 2016 3:31am
Quoting Maklla
{quote} nice trade Mike I just short that H4 BEOB at daily supply zone {image}
Hi Maklla,

Just a newbie here that just wanna ask something. I think I would also take this trade if my timezone would only allow me (this is around 2am in my place) but would like to ask why did you sell at that level instead of playing a retrace entry at around 0.7315? I think the retrace entry would now allow you to have your stop just at the top of your bar entry (around .7320) making you have a better dynamic risk management from this point. Would like to know your thought process in your entry if you may share it.

Hi Mike, Hope you can also share your thought here.

Regards,
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  • #139,532
  • Aug 24, 2016 5:43am Aug 24, 2016 5:43am
Quoting Liquidity
As posted above, I ended up taking a long on that GBPAUD chart
Final update to this trade:
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Confluence is king.
  • #139,533
  • Aug 24, 2016 6:21am Aug 24, 2016 6:21am
Hi guys i bought this hs n usdchf. What do you think about it?
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  • #139,534
  • Aug 24, 2016 7:45am Aug 24, 2016 7:45am
Quoting alphac
NZDCAD Daily. Personally would have liked the pin higher and closing just below the 0.95 level. {image}
Price seems to be retracing upwards aggressively. Only went down 55 or so pips after the break of the PB.

You still in the trade?
  • #139,535
  • Aug 24, 2016 8:03am Aug 24, 2016 8:03am
Quoting fascist
{quote} Price seems to be retracing upwards aggressively. Only went down 55 or so pips after the break of the PB. You still in the trade?
Didn't take a trade.
  • #139,536
  • Aug 24, 2016 8:25am Aug 24, 2016 8:25am
Hello, what do you think about it ? On MACD maybe divergence
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  • #139,537
  • Aug 24, 2016 8:27am Aug 24, 2016 8:27am
Why is that? Not a perfect pb ?
  • #139,538
  • Edited 4:11pm Aug 24, 2016 4:00pm | Edited 4:11pm
Quoting mbqb11
{quote} caught a big one on this one, but like so many pairs it overshot the support more than I'd hope I used an 8hr buob as my entry, i think the prime minister got arrested that sparked it off nice I think we have much more upside into 14.5 too but with these markets too much profit to give back up {image}
I think u called that setup last week, very nice trade Mike !

Take care,
Fxchap
  • #139,539
  • Aug 24, 2016 4:10pm Aug 24, 2016 4:10pm
Quoting RussianBoss
Hello, what do you think about it ? On MACD maybe divergence {image}
Hey RussianBoss,

I dont see any divergence, as you can see in the chart attached (lower high on chart and macd) .

I dont see a big pinbar that makes me wanna sell yet, see that last 2 weeks we had pinbars which didnt work (Price didnt go lower) making price go higher again which could mean a temporary rest.

If we had a big ass bar like the one i created, that would mean a different story to me.

Hope it helps.
Fxchap.
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  • #139,540
  • Aug 25, 2016 12:41am Aug 25, 2016 12:41am
Quoting sirovai
Hi guys i bought this hs n usdchf. What do you think about it? {image}
It's a courtesy to explain your reasons for entering before asking others for an opinion.
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