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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

  • #139,921
  • Dec 11, 2016 12:38pm Dec 11, 2016 12:38pm
Hello guys,

Does anyone have that indicator that plots previous day's H and L via a horizontal trendline (that starts and ends on current day's start and end) ?

Tyvm!
I don't need easy. I just need possible.
  • #139,922
  • Dec 11, 2016 1:09pm Dec 11, 2016 1:09pm
Was also looking at HTLD , though the BEOB could have closed a bit stronger
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  • #139,923
  • Dec 12, 2016 12:41am Dec 12, 2016 12:41am
I hope this will work.
This is on demo account.
I sell this two days bullish pinbar.
The stoploss just 12 pips.
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RIP RTM
  • #139,924
  • Dec 12, 2016 5:13pm Dec 12, 2016 5:13pm
Quoting hendzwoter
{quote} IMHO, I'm still newbie here. So that is a breakout after chanelling upward. Usually it come back to level that breakout already happen (on retrace). So, please go to daily chart (I think it's weekly chart) if you see false break (I think I see it) from the trend of the swing then its just a pullback and just hold it. Please do it with your own risk. (Don't blame me) Oh ya, Mike. How to get 30 pips SL? I think it must be touching trade. Or.... Is touching trade just daytrading that start to look on weekly/daily chart first then go to lower...
Hey Hendz

If you are going to use such tight stops then you need to be pinpointing your areas as best as possible. Yes some will start on a higher timeframe and work down to do this. Although most will struggle doing this because they are taking on a lot more information. What's best is to trade off the same timeframe you are looking for your price action on. Then pinpoint your entry. For example entering as CLOSE to the pivotal area as possible. This is a good way to get tighter stops.

Best
Mike
  • #139,925
  • Dec 12, 2016 5:14pm Dec 12, 2016 5:14pm
Quoting hendzwoter
I hope this will work. This is on demo account. I sell this two days bullish pinbar. The stoploss just 12 pips. {image}
Hey H

A 2day bullish pinbar would indicate a buy not a sell. Lemme know if that makes sense. Very congested area though, expect price to chop around here

Best
Mike
  • #139,926
  • Dec 12, 2016 5:33pm Dec 12, 2016 5:33pm
Quoting mbqb11
{quote} Hey Hendz If you are going to use such tight stops then you need to be pinpointing your areas as best as possible. Yes some will start on a higher timeframe and work down to do this. Although most will struggle doing this because they are taking on a lot more information. What's best is to trade off the same timeframe you are looking for your price action on. Then pinpoint your entry. For example entering as CLOSE to the pivotal area as possible. This is a good way to get tighter stops. Best Mike
 
Yes Mike, Thank you.
Last weekend I try to see MACD.thing with my indicators to M15 and D1. And I surprised with AudNzd. Even I know it must be daytrade it. I will repeat it on demo account and perhaps I can find something that I just need to set limit or stop order so I still can work with focus. I hope I can. Cause market sometime make breakout but do not retrace it and sometime retrace it. I hope I can do this. This is lonely road that I hate but passionate about.
 
Then, Thank you Mike for encourage me with my indicator, actually I hate the indicators that already made me loss again and again and many people said that indicators are BS. But I found something last monday. And feeling surprised. Even it still need something like you know I just hate daytrading, I hope I can find something that can make me just not to daytrade again.
 
I don't know, I just feel that I owe you this paradigm. Now I combine touch trade, pop thru, WIPG, and divergence with BB and MACD. But it still need hardwork to enjoy it.
 
Thank you.
RIP RTM
  • #139,927
  • Dec 12, 2016 5:37pm Dec 12, 2016 5:37pm
I just want do this but not daytrade.
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RIP RTM
  • #139,928
  • Dec 12, 2016 9:04pm Dec 12, 2016 9:04pm
AUD/USD H4 IB/PB combo. False break rejecting BRN 0.75000. PPZ and a lot of resistance above. See how she goes.

Good luck with your trade Hendz.

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'Fail to plan, plan to fail'
  • #139,929
  • Dec 12, 2016 11:54pm Dec 12, 2016 11:54pm
Quoting Guitarbloke
AUD/USD H4 IB/PB combo. False break rejecting BRN 0.75000. PPZ and a lot of resistance above. See how she goes. Good luck with your trade Hendz. {image}
Â
Hey, actually I close Usd/Chf. Now just sam e position with you but still demo. LOL.
Good luck too.
Â
I think its not bad to daytrade. And not bad to use indicators. We are on the same trade now.
Â
Knowing this make me sure to this again and again then do it on real account.
Â
Thanks Guitarbloke
RIP RTM
  • #139,930
  • Dec 13, 2016 4:11am Dec 13, 2016 4:11am
Quoting mbqb11
{quote} Hey H A 2day bullish pinbar would indicate a buy not a sell. Lemme know if that makes sense. Very congested area though, expect price to chop around here Best Mike
Why you said that?
When I see a video on James16Group Channel. I see you sold the huge bullish pinbar but it goes to south cause there is PPZ and it was strong. And if it looked by WIPG it will be going south.
And thats the way you are James is and I am.
It just maybe called touching trade but I daytrade it. Cause I cant do it on just daily chart.

Thank you Mike for your concern.

About this trade. A half position already reach TP. Another I just cut loss it. Actually I feel dissappointed with that. I just hope can hold it longer. Yeah it cause Im new. And the 2nd position not must be a losser. Just that.

Thank you again Mike.
This how it happened. In demo account.
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RIP RTM
  • #139,931
  • Dec 13, 2016 5:25am Dec 13, 2016 5:25am
Quoting hendzwoter
{quote} Why you said that? When I see a video on James16Group Channel. I see you sold the huge bullish pinbar but it goes to south cause there is PPZ and it was strong. And if it looked by WIPG it will be going south. And thats the way you are James is and I am. It just maybe called touching trade but I daytrade it. Cause I cant do it on just daily chart. Thank you Mike for your concern. About this trade. A half position already reach TP. Another I just cut loss it. Actually I feel dissappointed with that. I just hope can hold it longer. Yeah it...
Hey Hendz.

I'm not an expert trader, i'm on demo like you, but have started to turn the corner and becoming more consistent.

I understand what you are saying- James16.Mike, the best traders here, takes a trade straight into a PPZ and it works, so you want to do the same. Problem is, trading straight into PPZs and s/r, and areas of traffic in general, takes a lot of time and experience to master. Don't get me wrong, it can be done, and you will find plenty of examples of traders taking trades straight into big levels, and it working, but this takes years of experiences to get a feeling for when it's best to do such a trade.


For new traders, it really is best to try and master the easiest stuff first. In my case and in your case too, that means taking traders which are far away from 'traffic' (traffic means s/r, PPZs and general congestion). In other words, look for nice clean bars, with confluences, and SPACE. Mike uploaded a beginners video called 'traffic vs space' which should give you an idea of what to look for!

Hope this helps bud!

Irish
  • #139,932
  • Dec 13, 2016 5:38am Dec 13, 2016 5:38am
Quoting Ir1sh
{quote} Hey Hendz. I'm not an expert trader, i'm on demo like you, but have started to turn the corner and becoming more consistent. I understand what you are saying- James16.Mike, the best traders here, takes a trade straight into a PPZ and it works, so you want to do the same. Problem is, trading straight into PPZs and s/r, and areas of traffic in general, takes a lot of time and experience to master. Don't get me wrong, it can be done, and you will find plenty of examples of traders taking trades straight into big levels, and it working, but...
Thank you Irish.
RIP RTM
  • #139,933
  • Dec 13, 2016 5:55am Dec 13, 2016 5:55am
Quoting hendzwoter
{quote} Thank you Irish.
No problem . Attached is a famous pin bar on USDCHF . That is the kind of thing we need to trade as beginners , look at all that space !
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  • #139,934
  • Dec 13, 2016 6:01am Dec 13, 2016 6:01am
Quoting Ir1sh
{quote} No problem . Attached is a famous pin bar on USDCHF . That is the kind of thing we need to trade as beginners , look at all that space ! {image}
I think so. Hey what kind of app you use?
RIP RTM
  • #139,935
  • Dec 13, 2016 6:07am Dec 13, 2016 6:07am
Quoting hendzwoter
{quote} I think so. Hey what kind of app you use?
That's actually my broker IG, I use metatrader for forex and freestockcharts for stocks
  • #139,936
  • Dec 13, 2016 9:58am Dec 13, 2016 9:58am
chart to watch
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  • #139,937
  • Dec 13, 2016 12:53pm Dec 13, 2016 12:53pm
I'm going to start adding engulfing bars to my toolbox now , I feel my time demoing pin bars has been challenging but I've really learned the importance of space vs traffic .

some nice stocks setups coming soon folks !
  • #139,938
  • Dec 13, 2016 6:35pm Dec 13, 2016 6:35pm
I know it's early in the week but I hope CHK closes nice and strong ...divergence with the BEOB close under resistance would be a perfect setup imo
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  • #139,939
  • Dec 13, 2016 11:12pm Dec 13, 2016 11:12pm
Hi traders,

AUD/USD still in. AUD unemployment rate (red) news coming up in the next day, so will watch this carefully. GBP red news coming up in a few hours including a speech from governor carnage carney. So will consider taking profit and closing my G/U trade below soon. I find trading from a phone/small screen a little difficult, mainly because i can't zoom way out to assess the bigger picture. Handy to check trades though.

GBP/USD H4 BEOB. Took a retrace to this BEOB where price had visited and reacted to before. Also a PPZ and BRN 1.27000-1.27200 zone.

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'Fail to plan, plan to fail'
  • #139,940
  • Dec 13, 2016 11:15pm Dec 13, 2016 11:15pm
Quoting Guitarbloke
Hi traders, AUD/USD still in. AUD unemployment rate (red) news coming up in the next day, so will watch this carefully. GBP red news coming up in a few hours including a speech from governor carnage carney. So will consider taking profit and closing my G/U trade below soon. I find trading from a phone/small screen a little difficult, mainly because i can't zoom way out to assess the bigger picture. Handy to check trades though. GBP/USD H4 BEOB. Took a retrace to this BEOB where price had visited and reacted to before. Also a PPZ and BRN 1.27000-1.27200...
Agree. I sell again AudUsd and may be buy NzdUsd.
RIP RTM
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