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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

  • #5,361
  • Aug 10, 2007 6:20am Aug 10, 2007 6:20am
DJI futures atm........gnarghhh.......someone push



(there's two very small PBs at the top in case anyone remembers on daily and a doji on weekly..and then a pretty IB before the drop)
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Trust price. Know yourself.
  • #5,362
  • Aug 10, 2007 6:23am Aug 10, 2007 6:23am
Quoting maarf01
Please, i 'm getting the concept of trailing stop mixed up everytime i want to apply it, can someone explain it to me better?

Thanks

currently i'm Short on CAbble and Euro with good pips and i want to trail my profit.

I'm out with nice profit. small but it is okay.

240pips in my micro a/c. Have left the rest pips for charity. Am gone Off for the week

A BIG THANK TO SEEKING LIGHT, MIKE, BIG TOM AND A HOST OF OTHERS I REALLY APPRECIATE YOUR ASSISTANCE

THIS WEEK MARK A TURNING POINT IN MY TRADING CAREER
  • #5,363
  • Aug 10, 2007 6:37am Aug 10, 2007 6:37am
Nicely done, keep it up!!!

Quoting the_wizard
Hi Tw0eleven, I've been looking at the hourly a lot lately.

As raczekfx said, it has offered some great opportunities in the last few days with regards to r:r ratio.

Here is a trade I just closed. I entered on the bar with the arrow (next to the pin).

The reason I took this is as much to do with an ema system I like to use as with the pin (the emas are not shown on this chart).

My spread for USD/JPY is very poor - 4 pips. But I managed to get short this with a total risk of 20 pips and targeted the low of the day which it just hit for a profit of 35 pips net of spread.

Wiz
  • #5,364
  • Aug 10, 2007 7:07am Aug 10, 2007 7:07am
Quoting maarf01
I'm out with nice profit. small but it is okay.

240pips in my micro a/c. Have left the rest pips for charity. Am gone Off for the week

A BIG THANK TO SEEKING LIGHT, MIKE, BIG TOM AND A HOST OF OTHERS I REALLY APPRECIATE YOUR ASSISTANCE

THIS WEEK MARK A TURNING POINT IN MY TRADING CAREER

You're welcome maarf and well done for the profit.



-------------

Whoever shorted Kiwi yesterday hopefully is biting his butt now and reminded of my mini-series "why it pays to hold on to your trades" 250 pips later
There was also that 80 pip PB on Kiwi off the top. Would be worth 580 pips now if you had held. Something to think about

My AUDUSD shorts off the top were only stopped out because AUDUSD moved 60 pips higher than anticipated due to AUDNZD strength, else they'd be showing > 400 pips now
The NZDUSD one was taken out gracefully by a 40 pip Oanda newsspike, yessirra...

But it's all good...
Trust price. Know yourself.
  • #5,365
  • Aug 10, 2007 8:01am Aug 10, 2007 8:01am
Quoting SeekingLight
There was also that 80 pip PB on Kiwi off the top. Would be worth 580 pips now if you had held. Something to think about
Yep, I'm still short this off that pin bar...
  • #5,366
  • Aug 10, 2007 8:04am Aug 10, 2007 8:04am
Quoting the_wizard
Yep, I'm still short this off that pin bar...


Wish I was


Update to the battle at the bulge....DJI futures dare not move out ahead of real DJI.
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Trust price. Know yourself.
  • #5,367
  • Aug 10, 2007 8:42am Aug 10, 2007 8:42am
Quoting maarf01
I'm out with nice profit. small but it is okay.

240pips in my micro a/c. Have left the rest pips for charity. Am gone Off for the week

A BIG THANK TO SEEKING LIGHT, MIKE, BIG TOM AND A HOST OF OTHERS I REALLY APPRECIATE YOUR ASSISTANCE

THIS WEEK MARK A TURNING POINT IN MY TRADING CAREER
Good job maarf! Keep it up.
I hope your trading career takes off. Just don't forget us in here.

Take care,
Tom (aka Big Tom )
  • #5,368
  • Aug 10, 2007 8:44am Aug 10, 2007 8:44am
Quoting the_wizard
Yep, I'm still short this off that pin bar...
Nicely played Wiz.
Good showing of patience. (I'm still working on that... )

I exited my position a while ago for a nice profit. But this thing keeps paying.

Tom
  • #5,369
  • Aug 10, 2007 9:19am Aug 10, 2007 9:19am
Quoting SeekingLight
I got psychological s/r at 7300 DAX, 50%, real prior low s/r. It might either pause, hold or bounce a bit. But DOW futures are DOWn and the rejection was ugly and I think we could be in for quite some contest, yes...

237.50 togglepoint for GJ I think, but there's always risk of that fakeout..
:S
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  • #5,370
  • Aug 10, 2007 9:20am Aug 10, 2007 9:20am
DAX reaction so far.

Not in the clear yet as DJI remains struggling and red, but Gold is already merrily making new highs for the day..


I think I'm gonna go back to weekly soon, harumph....this is too darn schizo.
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  • #5,371
  • Aug 10, 2007 9:54am Aug 10, 2007 9:54am
Quoting SeekingLight


Wish I was


Update to the battle at the bulge....DJI futures dare not move out ahead of real DJI.
If today's turned out to be a black Friday (below 13k), I think, there will be strong bounce back next Mon/Tue. If Yen gaps higher on Sunday (234-235 area), I'd be a buyer. Market panic is good money making opportunity if you stay calm.
It'll be interesting to see governments making calming statements over the weekend...
  • #5,372
  • Aug 10, 2007 11:06am Aug 10, 2007 11:06am
So much for the "market crash".

I have to say, it seems that whenever I feel "certain" of something, it never transpires LOL...
  • #5,373
  • Aug 10, 2007 12:48pm Aug 10, 2007 12:48pm
I see the possibility of a nice pin bar forming on the daily G/U chart.

I have noticed that these are high probability trades over the last 12 months, with a stop loss set at the low (for a bullish pin) or high (for a bearish pin).

Does anyone care to confirm or add any comments?

Thank you.
  • #5,374
  • Aug 10, 2007 1:54pm Aug 10, 2007 1:54pm
Anyone watching the monthly pinocchio on usd/cad.
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Click to Enlarge Name: cad.jpg Size: 32 KB
  • #5,375
  • Aug 10, 2007 1:54pm Aug 10, 2007 1:54pm
I took this pin bar before the close.

I am +21 ticks as of the close.

The pin is not the best (close not withing the previous body) but the area it bounced off was previous strong resistance.
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  • #5,376
  • Aug 10, 2007 3:00pm Aug 10, 2007 3:00pm
I wonder, how much 10mini dow contracts would be worth today if you shorted at 61fib/PP confluence....

Enjoy the weekend.
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  • #5,377
  • Aug 10, 2007 7:38pm Aug 10, 2007 7:38pm
This is my chart for end of Friday daily on GBP/JPY... does this count as a PB ??? If so, how does it play with the previous daily candle which is a DBHLC ?? And also considering the fib lines...

What to do here ???
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  • #5,378
  • Edited 4:08am Aug 11, 2007 4:06am | Edited 4:08am
Quoting Tiki Trader
This is my chart for end of Friday daily on GBP/JPY... does this count as a PB ??? If so, how does it play with the previous daily candle which is a DBHLC ?? And also considering the fib lines...

What to do here ???
Hi Tiki,
I like this pin because it is going in the direction of the overall trend, and because of its positioning. Gigantic stop though, so youd have to look to lower tfs for an tighter entry point. Just my opinion though, and watch out because there were some heavy moves in other markets this past week which may mean further volatility. If you arent sure stand aside, thats what Ive learned...take care, Raz
Ah pins on eurjpy and usdjpy pointing to further jpy weaknesss....any takers?
Never say never.
  • #5,379
  • Aug 12, 2007 3:07am Aug 12, 2007 3:07am
Quoting razldazl
Hi Tiki,
I like this pin because it is going in the direction of the overall trend, and because of its positioning. Gigantic stop though, so youd have to look to lower tfs for an tighter entry point. Just my opinion though, and watch out because there were some heavy moves in other markets this past week which may mean further volatility. If you arent sure stand aside, thats what Ive learned...take care, Raz
Ah pins on eurjpy and usdjpy pointing to further jpy weaknesss....any takers?
I see an uptrend swing back into action and as Raz suggested the best is to microscopically look for a better entry. say 4hr or 1hr chart. to mee i prefer 4hr.

Look at 4hr a nice pin bar as well i think hourly chart will provide a good entry point.

Please, SeekingLight, Big Tom and Pass coments.

Best of pips to everybody's trading



Look at the attachement.
  • #5,380
  • Aug 12, 2007 3:20am Aug 12, 2007 3:20am
Quoting razldazl
Hi Tiki,
I like this pin because it is going in the direction of the overall trend, and because of its positioning. Gigantic stop though, so youd have to look to lower tfs for an tighter entry point. Just my opinion though, and watch out because there were some heavy moves in other markets this past week which may mean further volatility. If you arent sure stand aside, thats what Ive learned...take care, Raz
Ah pins on eurjpy and usdjpy pointing to further jpy weaknesss....any takers?
Hi Raz,

Yeah, you are right i think the uptrend is about to wsing back into action

Look the way price tested the broken TomDemark Resistance Line at 23.6 % Fib level also form a Double Bottom not only these but also a clear Hammer Pin bar all on the daily chart.

Also, on the 4Hr chart another Hammer Pin Bar formed. it's such a nice set-up.

It's better to microscopically look for an entry point just as you stated above.

See the attached
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