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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

  • #8,121
  • Dec 7, 2007 1:57pm Dec 7, 2007 1:57pm
You perhaps are right... however in this case I am place a very small order with my stop right above 112... I won't lose much if I lose... The symetry ( spelling ) of the formation is just too exact to be random or coincidence... I'll take the chance....

I belive we will eventually end up at 113 - 114.40 but maybe down first to 109 if the pattern is to play itself out...

Quoting Goozman
Now, I'm not saying that UJ will not turn right now. I don't think it will, we'll find out more if it reaches 112.00.
Shouldn't you wait for at least one confirmation signal before going short when the price is going...up?
  • #8,122
  • Dec 7, 2007 2:03pm Dec 7, 2007 2:03pm
You've been hit by lightning !!!??????????? I didn't see any scars on your profile picture... !!!

Quoting the_wizard
No its fine. I've just got my own unique way of doing this that I am comfortable with.

I figure when a trader is right he wants to make as much money as possible.

The USD/CAD daily pin bar I took gave me a risk of 132 pips.

It triggered and the move went near enough to parity. I put a stop at breakeven and was then taken out on the bounce.

However, there was then a one hour pin bar that formed at the S/R pivot which marked the lows of the pin bars. In other words it was the "retrace bus" that Seeking has spoken of.

The risk on this pin was only 30 pips and was a good way to get back into the daily pin bar.

Therefore I see nothing wrong with tripling my risk as 3 X 30 = 90. (which is much less than I was originally risking!)
  • #8,123
  • Dec 7, 2007 2:18pm Dec 7, 2007 2:18pm
Quoting Tiki Trader
You've been hit by lightning !!!??????????? I didn't see any scars on your profile picture... !!!
Cause it was send to NASA's data lab for brushing....first.
  • #8,124
  • Dec 7, 2007 5:10pm Dec 7, 2007 5:10pm
OK scarlet... you were asking about the daily PB on USD/CHF.... today we end with an Inside Bar.... now you have another way to look at this and maybe another way to look at trading it...

Quoting scarlet
I saw small daily pinbar on usdchf, at 38.2 fib and pivot level, is this not good enough to be A trade?
Attached Image (click to enlarge)
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  • #8,125
  • Dec 8, 2007 2:34am Dec 8, 2007 2:34am
Quoting james16
new chart
James, Ir ealise I am a little late in the day - answerign a post of several months old vintage, BUT, if we look at the formation just before the blue oval marked on this chart; doesnt it form a classic pinochio with a BUY signal?
http://www.forexfactory.com/attachme...6&d=1119307988
  • #8,126
  • Dec 8, 2007 4:21am Dec 8, 2007 4:21am
I see BUOB in U/J near Weekly Support and broke up
According to Martin Pring this "should" go up.
well just another thought for you guys.
Attached Image (click to enlarge)
Click to Enlarge Name: USD-JPY.jpg Size: 261 KB
  • #8,127
  • Dec 8, 2007 8:09am Dec 8, 2007 8:09am
When will the James 16 group be open to new subscribers again Jim.

HH
  • #8,128
  • Dec 8, 2007 8:17am Dec 8, 2007 8:17am
I believe subscriptions will re open after xmas early in the new year. Something to look forward to !
GOD IS NOT SHORT OF CASH
  • #8,129
  • Dec 8, 2007 8:27am Dec 8, 2007 8:27am
Quoting shiva
James, Ir ealise I am a little late in the day - answerign a post of several months old vintage, BUT, if we look at the formation just before the blue oval marked on this chart; doesnt it form a classic pinochio with a BUY signal?
http://www.forexfactory.com/attachme...6&d=1119307988

I am a little confused buy your post but here is my explanation.
The largest bullish bar before your blue area is a Bullish outside bar, everything after that before it broke must be taken within its context. These bars can be played on their break or on a retracement. So I would not be looking short on that Ib you lost short on, in fact it gives a great entry on the Bullish outside bar with a smaller stop.
The pinnocio bar is not a good one as it has a smaller nose to body and is in traffic unless you use it as a retracement on aforementioned Bullish outside bar(Buob).
Hope this helps.
EDIT; just noticed your chart is 15 min.(So my answer is pretty irrelevant but i will leave it anyway).......I strongly suggest looking for pin bars on Dailies first. Looks as though you are lost in the detail. Keep it simple and you will have greta sucess with this stuff.
GOD IS NOT SHORT OF CASH
  • #8,130
  • Edited 1:07pm Dec 8, 2007 8:40am | Edited 1:07pm
Quoting james16
New Chart
sorry to make a question about a post so old (post #5). But there is a tow matching high with lower close at 11:10 in the chart with was not mentioned. There is any rule to filter that? Maybe because was big bar?

thanks

edit: there was a explanation in post #65 but i did'nt undestand.
  • #8,131
  • Dec 8, 2007 3:40pm Dec 8, 2007 3:40pm
MM equals money management, but i prefer to call it making money..forgive my dry sense of humor. Anyway to keep things on the light side, how many of you people posting here on this thread are actually making a profit.

Sincerely HH
  • #8,132
  • Dec 8, 2007 6:22pm Dec 8, 2007 6:22pm
Quoting raczekfx
I see, you still enjoy woodo waves....
p.s. How do you think, this will affect the us stock market SL?... Not sure about others, but I can't see champagne flowing..
I just got back from logging over 100 hours on busses across SA. I think I have bricks in my pants. Rac, I am sure you are feeling similiar, US$400-mill getting reset to higher rates is a "no brainer" to me. The housing market has too much downward momentum to turn on any "hopefull" gov news. Anyway, I am not aware of any shovels big enough to dig out of this hole soon.
  • #8,133
  • Dec 8, 2007 7:08pm Dec 8, 2007 7:08pm
Quoting HipsterPipster
I just got back from logging over 100 hours on busses across SA. I think I have bricks in my pants. Rac, I am sure you are feeling similiar, US$400-mill getting reset to higher rates is a "no brainer" to me. The housing market has too much downward momentum to turn on any "hopefull" gov news. Anyway, I am not aware of any shovels big enough to dig out of this hole soon.
yup, unless there is another resolution prohibiting investors from selling stock below 14k,... I see only one way street for next few miles. Time will tell ... It seems lately, that everything is possible for Mr. B and CB...:surprised
  • #8,134
  • Dec 8, 2007 11:51pm Dec 8, 2007 11:51pm
Quoting Swami S
I am a little confused buy your post but here is my explanation.
The largest bullish bar before your blue area is a Bullish outside bar, everything after that before it broke must be taken within its context. These bars can be played on their break or on a retracement. So I would not be looking short on that Ib you lost short on, in fact it gives a great entry on the Bullish outside bar with a smaller stop.
The pinnocio bar is not a good one as it has a smaller nose to body and is in traffic unless you use it as a retracement on aforementioned Bullish outside bar(Buob).
Hope this helps.
EDIT; just noticed your chart is 15 min.(So my answer is pretty irrelevant but i will leave it anyway).......I strongly suggest looking for pin bars on Dailies first. Looks as though you are lost in the detail. Keep it simple and you will have greta sucess with this stuff.

Swamiji, thanks for your answer This isn't really my chart. it was from an old post of James'. What you said makes sense though. The nose certainly is small, but in hindsight does it not look like it was a strong indicator of the trend?
  • #8,135
  • Dec 9, 2007 8:27am Dec 9, 2007 8:27am
Quoting Tiki Trader
OK scarlet... you were asking about the daily PB on USD/CHF.... today we end with an Inside Bar.... now you have another way to look at this and maybe another way to look at trading it...

I think the IB is confirmation for the short side, I will place a sell stop order
  • #8,136
  • Dec 9, 2007 9:57am Dec 9, 2007 9:57am
Is this pin simply in traffic and hence not a very good setup or is it a strong indication that the recent downtrend from 1.68 might resume and possibly break the trendline decisively? I want a thank anyone for his comments.
Attached Image (click to enlarge)
Click to Enlarge Name: eur-chf3.gif Size: 23 KB
  • #8,137
  • Dec 9, 2007 10:12am Dec 9, 2007 10:12am
Quoting mamutot
have been looking on the charts now, and something poped up - maybe someone already noticed it but thats ok, i just want others to comment on this, i would expect a significant PA such a PB or DBHLC in the red box, lots of Fib Confluence, and a PPZ of the daily - a very strong one actually, and a possible TL bounce - that is not a TL yet, but it wouldnt surprise me to see something happening.

what do YOU think??

hope the white bg is ok - just wanted to clarify where the fibs are from..
hi all, here's mine.
Attached Image
  • #8,138
  • Dec 9, 2007 1:54pm Dec 9, 2007 1:54pm
james's MA's

i think he said in earlies posts in this trade that his MA's were SMAs but in the template posted are all exponential... whate is the correct? Thanks.
  • #8,139
  • Dec 9, 2007 1:59pm Dec 9, 2007 1:59pm
Quoting giraia_br
james's MA's

i think he said in earlies posts in this trade that his MA's were SMAs but in the template posted are all exponential... whate is the correct? Thanks.
James uses EMAs

greets
kpt
  • #8,140
  • Dec 9, 2007 6:45pm Dec 9, 2007 6:45pm
they are expontial, based on close.
GOD IS NOT SHORT OF CASH
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