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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

  • #5,441
  • Aug 15, 2007 8:30pm Aug 15, 2007 8:30pm
So many pairs have dropped so fast. I was all caught up in my AUD/USD trade that I did not take the NZD trade... also as I recall it was not a perfect PB, so I was scared of that... now I am sorry for that...

Now my AUD/USD trade has hit first target... second target maybe harder at 7960... but moved stop way past breakeven to lock in minimum of 160 +pips for second target... now it's just free trading !!!
  • #5,442
  • Aug 15, 2007 11:05pm Aug 15, 2007 11:05pm
Quoting Tiki Trader
And again about the monthly PB on this pair... I am now within 16 pips of my first target at 8160... + 290 pips right now... this pair has dropped like a rock for the last few days... I had no idea I would be to this point so fast... so there is that momentum MrDemark talks of too...
I'm in this trade too but I got in late. I missed the monthly pin bar set up but got in earlier today with a 4 hour double bar matching low, it was right before the big drop. Glad I took it.
Take a report.
  • #5,443
  • Aug 16, 2007 2:22am Aug 16, 2007 2:22am
Anyone remember http://forexfactory.com/showpost.php...postcount=5060 ?



I'ma call myself Nostra-Seek-us soon if that chart continues to fill out like that ;p


Man oh man this market has been INSANE last 3 weeks.

We can now officially say: this market has dropped thousands of pips AND JIM'S PINS STARTED IT ALL!
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  • #5,444
  • Aug 16, 2007 2:26am Aug 16, 2007 2:26am
Quote
As for the Pin timing/"delay": I personally allow a PB + IB then double-trigger to be okay. Mike is stricter in this regard I believe. I'm also fine with a 2 bar PB + 2 bar smaller PB at retrace + double-trigger takeoff.
Quote
Hi SeekingLight,

Back in post 5270 you mentioned "double-trigger" and "double-trigger take off" What did you mean by there terms?

Thanks Ray
With the "double trigger" I was referring to both the IB and the PB triggering at the same time(or the big PB and a retrace PB triggering one after another) since the IB is inside the PB. So when the IB breaks then the PB breaks a few pips away as well => double-triggering / two setups trigger. That's all I meant by it

Really it's just one setup and that's that of the last bar printed.
Trust price. Know yourself.
  • #5,445
  • Aug 16, 2007 4:11am Aug 16, 2007 4:11am
Quoting SeekingLight
With the "double trigger" I was referring to both the IB and the PB triggering at the same time(or the big PB and a retrace PB triggering one after another) since the IB is inside the PB. So when the IB breaks then the PB breaks a few pips away as well => double-triggering / two setups trigger. That's all I meant by it

Really it's just one setup and that's that of the last bar printed.
Many thanks for your answer.

Ray
  • #5,446
  • Aug 16, 2007 4:19am Aug 16, 2007 4:19am
Quoting SeekingLight
With the "double trigger" I was referring to both the IB and the PB triggering at the same time(or the big PB and a retrace PB triggering one after another) since the IB is inside the PB. So when the IB breaks then the PB breaks a few pips away as well => double-triggering / two setups trigger. That's all I meant by it

Really it's just one setup and that's that of the last bar printed.
Hi Seeking,
Could you show us a pictorial example of the above please?
Many thanks

every Saint has a past. Every Sinner has a Future
  • #5,447
  • Aug 16, 2007 5:06am Aug 16, 2007 5:06am
Quoting turnip15
Hi Seeking,
Could you show us a pictorial example of the above please?
Many thanks

In a second.

First another "stacking blocks" example. Ignore whatwhowhenwhere, this is to point out the stacking.
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  • #5,448
  • Aug 16, 2007 5:27am Aug 16, 2007 5:27am
Quoting turnip15
Hi Seeking,
Could you show us a pictorial example of the above please?
Many thanks



There ya go.
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  • #5,449
  • Aug 16, 2007 5:42am Aug 16, 2007 5:42am
Anybody care to play this 5min pin.
3 minutes to go, to see if it's gonna be a 15min pin.
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Keeping it Simple
  • #5,450
  • Aug 16, 2007 6:42am Aug 16, 2007 6:42am
Quoting habeeb
Anybody care to play this 5min pin.
3 minutes to go, to see if it's gonna be a 15min pin.
Nope. But I took the 5M BEOB for 25 pips

Still in the EJ one risk free now. It's funny how all yens look the same and the same as the DJI futures.
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  • #5,451
  • Aug 16, 2007 6:49am Aug 16, 2007 6:49am
Quoting SeekingLight
Nope. But I took the 5M BEOB for 25 pips
you jumped onto the slow one. Took a 150pip scalp on GJ.
Jumped onto the cable 1hr pin now. Will see if it turns into a 4hr pin, and eventually into a Knife signal.
Keeping it Simple
  • #5,452
  • Aug 16, 2007 7:02am Aug 16, 2007 7:02am
Quoting habeeb
you jumped onto the slow one.
That's because GJ hit a > 650 pip target at 225.60 faster than I could say wtfomgwtfwtfwtf today and I felt like slowing things down a bit after that
Trust price. Know yourself.
  • #5,453
  • Aug 16, 2007 7:14am Aug 16, 2007 7:14am
Quoting SeekingLight
That's because GJ hit a > 650 pip target at 225.60 faster than I could say wtfomgwtfwtfwtf today and I felt like slowing things down a bit after that
Thought I had a virus
Keeping it Simple
  • #5,454
  • Aug 16, 2007 7:47am Aug 16, 2007 7:47am
Quoting habeeb
Thought I had a virus
Yea, thought something like that, too.


Hey RACZEKFX, where are you!

I realized too late that that was a short entry, but I was at least smart enough to close out my last long for a bit over +200

I think I just don't expect to make 200 up, >130 down just like that...more a mind problem than anything.

Waiting to see what happens at 1.07.
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  • #5,455
  • Aug 16, 2007 8:30am Aug 16, 2007 8:30am
Quoting SeekingLight
Yea, thought something like that, too.


Hey RACZEKFX, where are you!

I realized too late that that was a short entry, but I was at least smart enough to close out my last long for a bit over +200

I think I just don't expect to make 200 up, >130 down just like that...more a mind problem than anything.

Waiting to see what happens at 1.07.
You got your long signal now ... 4hr.
Keeping it Simple
  • #5,456
  • Aug 16, 2007 8:39am Aug 16, 2007 8:39am
Had gone ahead a placed a long trade last night here... hadn't moved much by the time I woke up this morning... so i closed it out at +15 pips...

GOOD THING !!! 15 minutes later it all came tumbling down !!!
  • #5,457
  • Aug 16, 2007 8:57am Aug 16, 2007 8:57am
Quoting Tiki Trader
Had gone ahead a placed a long trade last night here... hadn't moved much by the time I woke up this morning... so i closed it out at +15 pips...

GOOD THING !!! 15 minutes later it all came tumbling down !!!
Hi Tiki Trader,
I meant ... long now ... from 1.0680 area.
Keeping it Simple
  • #5,458
  • Aug 16, 2007 11:40am Aug 16, 2007 11:40am
I have to admit that at this point I am completely lost as to anything to do or trade... markets are so crazy midday my time... cnetral time... I wonder if any daily candles that come out today would even be valid... probably looking at not more trades this week... I am not experienced enough to trade any of this craziness... lerned my lesson before... it would just be a good way for me to lose pips

My AUD/USD monthly PB trade has long past my 2 targets... in two days instead of two months...!!!!
  • #5,459
  • Aug 16, 2007 11:43am Aug 16, 2007 11:43am
900 pips in a day???
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  • #5,460
  • Aug 16, 2007 11:50am Aug 16, 2007 11:50am
So maybe if you are lucky, price will come down too and make a beautiful PB for us to trade !!! Unless you are also lucky enough to have been LONG there for the 900 pips !!!!
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