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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

  • #5,321
  • Aug 9, 2007 3:41am Aug 9, 2007 3:41am
good day every one, pls ur help his needed because i am really enjoing this thread. here is my question

i understand that for an inside bar or a pin bar formation u play a break out, right ?
then where do i place an appropriate stop loss ?
  • #5,322
  • Aug 9, 2007 5:10am Aug 9, 2007 5:10am
Hi didymario,

IB - stops are usually placed just above/below the IB. For example, if you trade an IB long then you would place a stop just beneath the IB.

Pin bar - stops are placed above/below the pin. For example, if you trade a pin bar long then you would place your stop beneath the pin.

This is the conservative way to play these bars although different traders will have different strategies. I would suggest you stick with these until you are more confident.

Wiz
  • #5,323
  • Aug 9, 2007 6:10am Aug 9, 2007 6:10am
The markets are so cool to trade right now - check the GBP/JPY!
Long may this last
  • #5,324
  • Aug 9, 2007 6:44am Aug 9, 2007 6:44am
What timeframe are you looking at may I ask? And I take it you went short, but what caused you to go short? I don't see any bar formations on the daily or 4hr charts. Cheers.

Quoting the_wizard
The markets are so cool to trade right now - check the GBP/JPY!
Long may this last
  • #5,325
  • Aug 9, 2007 6:52am Aug 9, 2007 6:52am
Quoting Tw0eleven
What timeframe are you looking at may I ask? And I take it you went short, but what caused you to go short? I don't see any bar formations on the daily or 4hr charts. Cheers.
There were three "gasping dojis" at the high on 4h here like on your NZD the other night

Not enough for me to put a trade on...USDJPY got to .382 of the full run down before it flipped - guess that pulled the others along...AUDUSD / AUDJPY 50%...and some other reasons.

Guess the big timeframes are saying hello.
Trust price. Know yourself.
  • #5,326
  • Aug 9, 2007 7:01am Aug 9, 2007 7:01am
Ah, see...and I thought we were just looking for PB's, IB, and BE/BUOB's, DHLC/DLHC's. Now you throw doji's in there eh? The best I could come up with was an IB about 3bars ago that just about broke to the upside before the next bar came WAY down! But I'm with you, didn't see enough to enter a trade.

Quoting SeekingLight
There were three "gasping dojis" at the high on 4h here like on your NZD the other night

Not enough for me to put a trade on...USDJPY got to .382 of the full run down before it flipped - guess that pulled the others along...AUDUSD / AUDJPY 50%...and some other reasons.

Guess the big timeframes are saying hello.
  • #5,327
  • Aug 9, 2007 8:33am Aug 9, 2007 8:33am
[quote=Tw0eleven;1530636]
Quote
Ah, see...and I thought we were just looking for PB's, IB, and BE/BUOB's, DHLC/DLHC's. Now you throw doji's in there eh?

Ah know how you feel 211...
Never say never.
  • #5,328
  • Aug 9, 2007 8:56am Aug 9, 2007 8:56am
Quoting raczekfx
this is a good pair to practice PA.
Plenty of setups and it's slower then G/J.
...
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  • #5,329
  • Aug 9, 2007 9:07am Aug 9, 2007 9:07am
Quoting Tw0eleven
What timeframe are you looking at may I ask? And I take it you went short, but what caused you to go short? I don't see any bar formations on the daily or 4hr charts. Cheers.
I know, I'm not wiz, but this is what I was looking at...
.
Attached Image
  • #5,330
  • Aug 9, 2007 9:08am Aug 9, 2007 9:08am
Good Eye! How did you make out? Are you still in?

Quoting raczekfx
I know, I'm not wiz, but this is what I was looking at...
.
  • #5,331
  • Aug 9, 2007 9:12am Aug 9, 2007 9:12am
Now, If today was friday and I saw that '??? ' pin bar, I'd say we're heading much lower
232-234?
but I'm no expert, so you can just ignore my thoughts.
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  • #5,332
  • Aug 9, 2007 9:16am Aug 9, 2007 9:16am
Quoting Tw0eleven
Good Eye! How did you make out? Are you still in?
I was thinking, almost pulled the trigger... but never actually shorted.
However I did, closed my longs at 243.60 and 243.80 yesterday.
  • #5,333
  • Aug 9, 2007 9:23am Aug 9, 2007 9:23am
Nice job on closing your longs...maximized profits on that one!

Quoting raczekfx
I was thinking, almost pulled the trigger... but never actually shorted.
However I did, closed my longs at 243.60 and 243.80 yesterday.
  • #5,334
  • Aug 9, 2007 9:56am Aug 9, 2007 9:56am
Quoting raczekfx
Now, If today was friday and I saw that '??? ' pin bar, I'd say we're heading much lower
232-234?
but I'm no expert, so you can just ignore my thoughts.


Think we're both wishing we'd have taken that GJ short
We even posted the same chart =)

I agree, if the lows blow out I got 232.50 in my chart marked blue ;p

Not necessarily in a straight line perhaps, but hey...500 pips a day np for GJ, right?
;p
Trust price. Know yourself.
  • #5,335
  • Aug 9, 2007 11:17am Aug 9, 2007 11:17am
Quoting SeekingLight
Think we're both wishing we'd have taken that GJ short
We even posted the same chart =)

I agree, if the lows blow out I got 232.50 in my chart marked blue ;p

Not necessarily in a straight line perhaps, but hey...500 pips a day np for GJ, right?
;p
right, there will always be the next one...
232 might happen sooner then people think. Statements like THIS get my attention. I big trouble brewing...

I'm probably going to start a journal with setups I see (kind of like yours) on PF side and limit my posting here.
It's more fun on the other side and ... 'more' room
  • #5,336
  • Aug 9, 2007 11:22am Aug 9, 2007 11:22am
Hi raczek

Is the ma on your chart 135ema?
Regards
  • #5,337
  • Aug 9, 2007 11:26am Aug 9, 2007 11:26am
Quoting raczekfx

I'm probably going to start a journal with setups I see (kind of like yours) on PF side and limit my posting here.
It's more fun on the other side and ... 'more' room
i think that would be an awesome idea. hoping to see it over in the PF!
  • #5,338
  • Aug 9, 2007 11:50am Aug 9, 2007 11:50am
Quoting diggsnoob
i think that would be an awesome idea. hoping to see it over in the PF!
Dito *g*

@RaczekFX: Considering we end up seeing similiar things lately we could cheat sheet off of one another's journals hehehe
Trust price. Know yourself.
  • #5,339
  • Edited 6:35pm Aug 9, 2007 12:27pm | Edited 6:35pm
Quoting howard
Hi raczek

Is the ma on your chart 135ema?
Sorry Howard, can’t discuss here. It’s lagging anyways. Using simple S/R is much more profitable then MAs, imho.
Have a look at daily, 4hr and 1hr G/J charts and draw S/R lines. 4hr/1hr appear to be daytraders dream in the last 2 weeks with small stops and huge profits.

e.g.
.
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  • #5,340
  • Aug 9, 2007 12:29pm Aug 9, 2007 12:29pm
Quoting SeekingLight
Dito *g*

@RaczekFX: Considering we end up seeing similiar things lately we could cheat sheet off of one another's journals hehehe
Funny, but you're right. We must've had a same master...
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