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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

  • #141,341
  • Dec 7, 2017 5:56pm Dec 7, 2017 5:56pm
Nice.

I'm long on that too

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  • #141,342
  • Dec 7, 2017 11:47pm Dec 7, 2017 11:47pm
Quoting richadi36
PB 50% retrace entry at BRN 1.7000... let's wait and see...{image}
3R target was hit...
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profitable trading does not mean trading everyday
  • #141,343
  • Dec 8, 2017 12:28am Dec 8, 2017 12:28am

Hi colleagues traders, still hoping for the new High at RRR7 ?

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  • #141,344
  • Dec 8, 2017 2:42am Dec 8, 2017 2:42am
Quoting Ifmyante
Nice. I'm long on that too {image}
Cheers IF,so far so good.Fancy 1.37 lol
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  • #141,345
  • Edited 3:49am Dec 8, 2017 2:58am | Edited 3:49am
Quoting richadi36
{quote} 3R target was hit...{image}
Richard it didn't retrace the 50% of the PB...
Your entry was on the first PB? I didn't trade it and if it would have been a SL
  • #141,346
  • Dec 8, 2017 3:49am Dec 8, 2017 3:49am
USDCHF
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  • #141,347
  • Dec 8, 2017 3:56am Dec 8, 2017 3:56am
USDJPY
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  • #141,348
  • Dec 8, 2017 4:21am Dec 8, 2017 4:21am
Quoting sirovai
{quote} Richard it didn't retrace the 50% of the PB... Your entry was on the first PB? I didn't trade it and if it would have been a SL
Lol,that's what happens when you wear sunglasses while trading,
  • #141,349
  • Dec 8, 2017 4:29am Dec 8, 2017 4:29am
EURUSD time to close.
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  • #141,350
  • Edited 6:56am Dec 8, 2017 5:59am | Edited 6:56am
Quoting sirovai
{quote} Richard it didn't retrace the 50% of the PB... Your entry was on the first PB? I didn't trade it and if it would have been a SL
Hi Sirovai, I traded the first PB with buy limit order. And I put SL not to the low of the PB but even lower of the tail. Why? Because, trading intuition and experience whispered... market makers often form this kind of PBs at horizontal lines and they know that amateur traders put their stops right under the tail of PBs (I witnessed many times)... and first, they hit these lows/highs of the tails and continue their initial (long-term) trend direction. Conservative ways of trading this kind of PB would be entry with buystop/sellstop from the highs/lows of the PB, but I traded with aggressive method...
profitable trading does not mean trading everyday
  • #141,351
  • Dec 9, 2017 4:02pm Dec 9, 2017 4:02pm
EURUSD One to watch on Mon.That is actually a doji not a PB the head is too small.However it has bounced off the last swing low.Still in a mthly DT.
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  • #141,352
  • Dec 10, 2017 4:01am Dec 10, 2017 4:01am
Quoting mallee
EURUSD One to watch on Mon.That is actually a doji not a PB the head is too small.However it has bounced off the last swing low.Still in a mthly DT. {image}

Mallee in my feed this is a pinbar but i would wait for price action at blue area from my pic

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  • #141,353
  • Dec 10, 2017 4:22am Dec 10, 2017 4:22am
Quoting florinellz
{quote} Mallee in my feed this is a pinbar but i would wait for price action at blue area from my pic {image}
Great level of PPZ (flip) to watch for PA.

florinellz - would you consider buy it blindly on the touch?

Best,
Jacob
  • #141,354
  • Dec 10, 2017 5:17am Dec 10, 2017 5:17am
Quoting jacob12
{quote} Great level of PPZ (flip) to watch for PA. florinellz - would you consider buy it blindly on the touch? Best, Jacob

Jacob i don't do often touch trade. In this situation if i want to touch trade i would buy at 1.166-1.167 area with a SL 20-25 pips targeting 1.1725-1.173 area. What's your opinion?
  • #141,355
  • Dec 11, 2017 2:39am Dec 11, 2017 2:39am
Quoting florinellz
{quote} Jacob i don't do often touch trade. In this situation if i want to touch trade i would buy at 1.166-1.167 area with a SL 20-25 pips targeting 1.1725-1.173 area. What's your opinion?
Hey florinellz,

I would take such a trade even blindly but if that area won't hold I will cut very fast.

I have found out that many times price will respect those areas to the pip.

Best,
Jacob
  • #141,356
  • Dec 11, 2017 5:48am Dec 11, 2017 5:48am
Quoting jacob12
{quote} Hey florinellz, I would take such a trade even blindly but if that area won't hold I will cut very fast. I have found out that many times price will respect those areas to the pip. Best, Jacob
Hi Jacob,

What would be your stop loss for such a Touch trade and the reasons for the SL size.
Just trying to pick your thinking behind the Trade size.

cheers
  • #141,357
  • Dec 11, 2017 8:13am Dec 11, 2017 8:13am
Quoting novice198
{quote} Hi Jacob, What would be your stop loss for such a Touch trade and the reasons for the SL size. Just trying to pick your thinking behind the Trade size. cheers
Hey novice198,

In this case I will drill to the lower TF (4H) and look for a swing point to first place my SL.

You can see the lower box where I will place it.

If the box above won't hold, I will cut out right away, I won't wait for price to hit my initial SL.

If that upper box won't hold, the trade is over for me.

So, in the case the trade goes wrong, I will loss a very minor amount.

Hope that helps

Best,
Jacob
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  • #141,358
  • Dec 11, 2017 10:35am Dec 11, 2017 10:35am
Quoting mallee
USDCHF{image}
mallee i really don't understand how do you buy/sell.
  • #141,359
  • Dec 11, 2017 1:27pm Dec 11, 2017 1:27pm
EUR/NZD D1

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  • #141,360
  • Dec 11, 2017 2:28pm Dec 11, 2017 2:28pm
Quoting sirovai
{quote} mallee i really don't understand how do you buy/sell.
Sorry mate,I don't understand the question.
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