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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

  • #139,661
  • Sep 16, 2016 9:18am Sep 16, 2016 9:18am
Quoting priceaction9
guys Do you only trade DBLHC and DBHLC when they occur at known support and resistance? thx
Hi! Sometimes i'm looking for another PA patterns, and sometimes trade only from support and resistance.
  • #139,662
  • Sep 16, 2016 9:46am Sep 16, 2016 9:46am
As i've been trying to do I wrote an article on this beautiful friday


For some of you this is obvious, for others it might be obvious and you are still doing it

Enjoy the weekend back sunday!


https://www.james16group.us/wp/the-5...rading-mindset
  • #139,663
  • Sep 16, 2016 6:07pm Sep 16, 2016 6:07pm
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Beautiful
  • #139,664
  • Sep 16, 2016 6:46pm Sep 16, 2016 6:46pm
Hi Mike and others, if any of you know me from this thread, you know my fave J16 method was ranges and found an absolute stunner here on AUDCAD daily chart. Pinbar rejected at upper part of range, simple target of lower part of range. FTA being the area marked (demand)

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  • #139,665
  • Sep 16, 2016 7:44pm Sep 16, 2016 7:44pm
Quoting deankenny21
Hi Mike and others, if any of you know me from this thread, you know my fave J16 method was ranges and found an absolute stunner here on AUDCAD daily chart. Pinbar rejected at upper part of range, simple target of lower part of range. FTA being the area marked (demand) {image}

I think you would have around 25 pips on the first target. Then, I would have to move my SL @ BE and take some profit off the table. Also, once the price breaks, it will run into a solid support level, which may immediately reverse the bearish momentum.

Personally, I would pass on this trade - but that's just me.
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  • #139,666
  • Sep 16, 2016 7:51pm Sep 16, 2016 7:51pm
Quoting Cricketer
{quote} I think you would have around 25 pips on the first target. Then, I would have to move my SL @ BE and take some profit off the table. Also, once the price breaks, it will run into a solid support level, which may immediately reverse the bearish momentum. Personally, I would pass on this trade - but that's just me. {image}
I have traded ranges since day 1 of J16 thread, and although my bread and butter is now trend+supply and demand, I always like to go to my routes and see whats up, personally while doing J16 many years ago, the range trades provided excellent probability outcomes, FTA I would simply move stop to BE and try to take the free ride. I would not recommend taking profits early in a range trade, since this would be minus RR to do so. But price has very high probability on past performance of hitting FTA, so minimum I could expect from this trade is BE, then hopefully once broken, full profits at lower range area.
  • #139,667
  • Sep 16, 2016 8:12pm Sep 16, 2016 8:12pm
Quoting deankenny21
{quote} I have traded ranges since day 1 of J16 thread, and although my bread and butter is now trend+supply and demand, I always like to go to my routes and see whats up, personally while doing J16 many years ago, the range trades provided excellent probability outcomes, FTA I would simply move stop to BE and try to take the free ride. I would not recommend taking profits early in a range trade, since this would be minus RR to do so. But price has very high probability on past performance of hitting FTA, so minimum I could expect from this trade...
That's a very good way to trade a lamb market. Do you use any script/EA to move the SL @ BE when price reaches first target area? I find it awful to sit around or use notifications/alerts as half of my brain can't concentrate on anything else while there is an open trade
  • #139,668
  • Sep 16, 2016 8:18pm Sep 16, 2016 8:18pm
Quoting Cricketer
{quote} That's a very good way to trade a lamb market. Do you use any script/EA to move the SL @ BE when price reaches first target area? I find it awful to sit around or use notifications/alerts as half of my brain can't concentrate on anything else while there is an open trade
No, I do not use any EAs of any sort these, since I trade full time now, I in front of my monitor all of the day, even if Im gaming I will have the active trades charts on my 2nd and 3rd monitor. But I do believe there are ea's out there that can perform what you need, or you could use MT4s built in trailer, once it goes +25 in profit it will move trade to BE automatically, only thing with that is of course every 1 pip gained above 25 will keep moving SL in positive direction, so when price does bounce off the support will take you out for far less than full TP at support. Not sure if you can use TP target while using Trailing, as I never used it, but if you can that would be good.
  • #139,669
  • Sep 16, 2016 9:18pm Sep 16, 2016 9:18pm
Right on, using trailing stop doesn't help accomplish how we would trade setups like these. What I have been doing is that instead of opening one 2% position, I open two positions, 1% each. At +25, in this case, my first trade would end with a profit. The second trade would remain open. Without an automated way to move the SL @ BE at this point on the second order, it remains vulnerable if price backtracks and go hit the original SL. So the outcome from both trades would be a big fat 0.

If there is a script that can move the SL at a certain number of pips, then leave it alone, that would really save us a ton of time that we can use for other productive pursuits. If anyone can suggest me a script or EA of this sort, that would be great.
  • #139,670
  • Sep 18, 2016 10:39am Sep 18, 2016 10:39am
Quoting deankenny21
Hi Mike and others, if any of you know me from this thread, you know my fave J16 method was ranges and found an absolute stunner here on AUDCAD daily chart. Pinbar rejected at upper part of range, simple target of lower part of range. FTA being the area marked (demand) {image}
Hey DK

Good to see you my friend. This has been the year of the ranging markets! Often the account killer for those that aren't recognizing the conditions.

Good to see you stop in
Mike
  • #139,671
  • Sep 18, 2016 12:31pm Sep 18, 2016 12:31pm
is anyone watching this?
NZD/JPY trendline with 4 points; divergence; i'm watching for a break of the trendline

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  • #139,672
  • Sep 18, 2016 11:56pm Sep 18, 2016 11:56pm
Hello. got a nice PB on weekly tm, maybe somebody trade it ?
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  • #139,673
  • Sep 19, 2016 12:38am Sep 19, 2016 12:38am
Todays EU Forecast
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  • #139,674
  • Sep 19, 2016 1:23am Sep 19, 2016 1:23am
Quoting RussianBoss
Hello. got a nice PB on weekly tm, maybe somebody trade it ? {image}
Hi! I watched this pair. but didn't open on buy, because on D1 it against the trend, pin to small, and support was broken. My opinion.
  • #139,675
  • Sep 19, 2016 1:27am Sep 19, 2016 1:27am
Quoting Cricketer
{image} Beautiful
Super!
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  • #139,676
  • Sep 19, 2016 1:31am Sep 19, 2016 1:31am
Quoting Kinder
{quote} Super! {image}

great trade, i got it too
  • #139,677
  • Sep 19, 2016 8:22am Sep 19, 2016 8:22am
lot of choppy markets, I prefer to just wait for them to come to high importance levels. It trains your patience

Here is an example on the usd/cad, beautiful area to watch
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  • #139,678
  • Sep 19, 2016 4:33pm Sep 19, 2016 4:33pm
Liking the pin bar off support on EURCAD
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  • #139,679
  • Sep 19, 2016 7:34pm Sep 19, 2016 7:34pm
Quoting TGpop
Liking the pin bar off support on EURCAD {image}
I am a bit concerned about the low from Sept 15, which is at 1.4765. I have placed a buy stop 5 pips above, 1.4770. Let's see.
  • #139,680
  • Sep 20, 2016 4:32am Sep 20, 2016 4:32am
GBP/USD is forming a temporary low at the moment at 1,30 or even a bit lower - possible upleg towards 1,32-1,325
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