james16 Chart Thread | Page 255 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #5,081
  • Jul 30, 2007 6:17am Jul 30, 2007 6:17am
Quoting lava
Hi,

There is one reason I do not like this trade. That is the small but deadly PB on the weekly we had recently. That is working well.
I think you would have to be nimble with this one but with 50 pip spreads on NF it is a killer! MB currently 12 pips.
nah 50 pips spreads are not in my current vocabulary. Can you really call that a pin down there? Well anyway I like the setup, dont worry mike I wont call it an mbq special hehe but I like the way the wizards pin is positioned. BEOBs on eur and cable...countertrend for me, I will probly be more cautious and wait for a pin farther down on the eur and gbp signalling a buy, but I may be waiting for a while to see that. Or will this correction continue down a long way, I think I will wait and see...I am getting pickier by the day, Raz
Never say never.
  • #5,082
  • Jul 30, 2007 6:38am Jul 30, 2007 6:38am
I've got a spread of 40 for USD/SEK, Razl.

That daily pin triggered this morning but has come back up a bit and the position is now a little in the negative.

The weekly and monthly setups are bullish however which means I will probably try and get a stop to BE asap if this goes in my favour.
  • #5,083
  • Jul 30, 2007 12:41pm Jul 30, 2007 12:41pm
Pin bar (almost "perfect" if it closes marginally lower so it's within the previous bars body)

This pin bar is very close to the 150ema

It's nose has poked right through a descending TL and rejected it.

It is at a 61 fib level of the previous swing down.

It is WITH the trend.

Razl - please don't take this. If you lose on your last week of demo and it's through something I said, I am never going to forgive myself!!
Attached Image (click to enlarge)
Click to Enlarge Name: 2.jpg Size: 42 KB
  • #5,084
  • Jul 30, 2007 2:37pm Jul 30, 2007 2:37pm
I've done a BAD thing.

And I know it's a bad thing

I predicted in my journal last week that the bund would break out of that lower range at around 111.00 and test the previous support (around 220 points higher) before resuming its downwards trend.

It's testimony to how hard trading is that despite being correct (to the tick) on that whole move, I have still lost money trying to trade this intraday.

And now it's tested that level and formed a pin bar and I've gone short right at the close before it's even broken.

Someone scream at me.
Attached Image (click to enlarge)
Click to Enlarge Name: bund1.jpg Size: 59 KB
  • #5,085
  • Jul 30, 2007 2:39pm Jul 30, 2007 2:39pm
Quoting the_wizard
Pin bar (almost "perfect" if it closes marginally lower so it's within the previous bars body)

This pin bar is very close to the 150ema

It's nose has poked right through a descending TL and rejected it.

It is at a 61 fib level of the previous swing down.

It is WITH the trend.

Razl - please don't take this. If you lose on your last week of demo and it's through something I said, I am never going to forgive myself!!
Im a big girl wiz... and besides I dont listen to anyone anymore hehe (but this LOOKS good Im gonna watch it)Razldazl
Never say never.
  • #5,086
  • Jul 30, 2007 2:40pm Jul 30, 2007 2:40pm
Quoting the_wizard
I've done a BAD thing.

And I know it's a bad thing

I predicted in my journal last week that the bund would break out of that lower range at around 111.00 and test the previous support (around 220 points higher) before resuming its downwards trend.

It's testimony to how hard trading is that despite being correct (to the tick) on that whole move, I have still lost money trying to trade this intraday.

And now it's tested that level and formed a pin bar and I've gone short right at the close before it's even broken.

Someone scream at me.
scream
Never say never.
  • #5,087
  • Jul 30, 2007 2:44pm Jul 30, 2007 2:44pm
Quoting the_wizard
Someone scream at me.
You're a bad, bad boy. Now go to bed, you can't have any pudding tonight.
And don't think you're playing with your laptop under the covers. I'm locking it away until you learn to trade properly.
Now if you don't go straight up those stairs, I'll tell Daddy when he gets home and you know what that means!!!
  • #5,088
  • Jul 30, 2007 2:46pm Jul 30, 2007 2:46pm
you may be fine with the pin. the positive to think about is you called the run. there are 20 year traders that cant do that. your on your way dude, be happy for it and stay patient.

jim

Quoting the_wizard
I've done a BAD thing.

And I know it's a bad thing

I predicted in my journal last week that the bund would break out of that lower range at around 111.00 and test the previous support (around 220 points higher) before resuming its downwards trend.

It's testimony to how hard trading is that despite being correct (to the tick) on that whole move, I have still lost money trying to trade this intraday.

And now it's tested that level and formed a pin bar and I've gone short right at the close before it's even broken.

Someone scream at me.
  • #5,089
  • Jul 30, 2007 3:05pm Jul 30, 2007 3:05pm
Quoting PeterFM
And don't think you're playing with your laptop under the covers. I'm locking it away until you learn to trade properly.
LOL
  • #5,090
  • Jul 30, 2007 3:14pm Jul 30, 2007 3:14pm
Quoting james16
the positive to think about is you called the run. there are 20 year traders that cant do that.
Then those 20 year traders haven't met you, Jim!

Because I've only been calling moves like that since studying what you teach us
  • #5,091
  • Jul 30, 2007 7:13pm Jul 30, 2007 7:13pm
USDCAD daily pinbar... any takers?
  • #5,092
  • Jul 30, 2007 7:20pm Jul 30, 2007 7:20pm
Daily pin off a previous s/r level and the 23.6 fib off of June 27 2006 and July 25 2007 low.
Attached Image
  • #5,093
  • Jul 30, 2007 7:24pm Jul 30, 2007 7:24pm
4hr look at the daily pin
Attached Image
  • #5,094
  • Jul 30, 2007 7:58pm Jul 30, 2007 7:58pm
pound/yen 4 hr
Attached Image (click to enlarge)
Click to Enlarge Name: gbp 303-08-07 asd13579 trend 5&3.jpg Size: 37 KB
  • #5,095
  • Jul 30, 2007 8:04pm Jul 30, 2007 8:04pm
I might consider the USD/CAD daily... it is not REALLY a legal pin bar... but it is bouncing off the daily 62 ema... been up a while... maybe time to come back down a bit.
Attached Image
  • #5,096
  • Jul 30, 2007 8:06pm Jul 30, 2007 8:06pm
Also time for some retrace... maybe back to the first fib line...
Attached Image
  • #5,097
  • Jul 30, 2007 8:07pm Jul 30, 2007 8:07pm
Not to get too excited or give up on the daily pin but it is not playing out yes. It is something to watch because they can play out in a day or two. Still watching to see if there will be a good entry point yet today.
Attached Image
  • #5,098
  • Jul 30, 2007 8:17pm Jul 30, 2007 8:17pm
Quoting Tiki Trader
Also time for some retrace... maybe back to the first fib line...
looks like a nice call
  • #5,099
  • Jul 30, 2007 8:20pm Jul 30, 2007 8:20pm
Yes, but if I enter trade 10 pips below the pin and only to the first fib line, that is only ten pips... stop is supposed to go above the pin... not very good R/R

If I go for more fib lines... welll, let's just say CAD has burned me time and time again... and it is not a real PB anyways...

Have to think some more on this one...
  • #5,100
  • Jul 30, 2007 8:37pm Jul 30, 2007 8:37pm
I decide I will not trade the CAD

1. Not really a PB
2. Last weeks candle is BUOB
3. Monthly looks to be a PB to go LONG

Why risk some more pips... not the best set-up I pass !!!
Attached Image
47 traders viewing now