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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

  • #8,161
  • Dec 11, 2007 6:54am Dec 11, 2007 6:54am
Quoting kunz78
I've closed my long when i saw this 1hr pin bar at 1,4717 with 40 pips profit.
I wish I entered short at the break of the TBH.
Hi Kunz,
I dont think thats how you play tbh to be honest...normally tbh, when they appear in a clear trend up or down indicate a continuation, and you would buy from a break of the tbh or sell from a break of the tbl. There was a nice pin however both on the 1hr and 4hr, for an entry short, take care, Raz
Never say never.
  • #8,162
  • Dec 11, 2007 7:10am Dec 11, 2007 7:10am
Quoting razldazl
Hi Kunz,
I dont think thats how you play tbh to be honest...normally tbh, when they appear in a clear trend up or down indicate a continuation, and you would buy from a break of the tbh or sell from a break of the tbl. There was a nice pin however both on the 1hr and 4hr, for an entry short, take care, Raz

Thanks for the suggestion Raz!
But to me this TBH looked as a clear short signal; the green bar showed a down trend movement, specially after that pin bar that you've mentioned.
Obviously making this consideration after everything is happened is very easy.

Happy trading
  • #8,163
  • Dec 11, 2007 7:41am Dec 11, 2007 7:41am
Quoting kunz78
Thanks for the suggestion Raz!
But to me this TBH looked as a clear short signal; the green bar showed a down trend movement, specially after that pin bar that you've mentioned.
Obviously making this consideration after everything is happened is very easy.

Happy trading
Hi Kunz,
well, looking at it now I realise its a dbhlc, not a tbh, they are played differently and yes that lower close indicated a sell...take care, Raz
Never say never.
  • #8,164
  • Dec 11, 2007 7:46am Dec 11, 2007 7:46am
I don't know raz... pretty hard to tell.... very close.... I'd almost say to treat the second bar like an Inside Bar... it broke down, so hope fully down things would go... but on the other hand... that was all sideways there, with no indication of any reason for price to go anywhere in the end... there is only a sideways trend...

Quoting razldazl
Hi Kunz,
well, looking at it now I realise its a dbhlc, not a tbh, they are played differently and yes that lower close indicated a sell...take care, Raz
  • #8,165
  • Dec 11, 2007 7:56am Dec 11, 2007 7:56am
Quoting scarlet
I think the IB is confirmation for the short side, I will place a sell stop order
Scarlet

As you can now see, the USD/CHF daily PB was not good.... this PB was in traffic... a VERY short time ago, I too would have traded that... look for PBs after longer swings...or bouncing off fib or trend lines.... again.. look at the PB at the bottom of the chart... that is the kind of PB you need to look for...
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  • #8,166
  • Dec 11, 2007 8:28am Dec 11, 2007 8:28am
Watching Aud/USD 4hr. May have a pin forming for long.
  • #8,167
  • Dec 11, 2007 9:34am Dec 11, 2007 9:34am
Quoting Tiki Trader
Scarlet

As you can now see, the USD/CHF daily PB was not good.... this PB was in traffic... a VERY short time ago, I too would have traded that... look for PBs after longer swings...or bouncing off fib or trend lines.... again.. look at the PB at the bottom of the chart... that is the kind of PB you need to look for...
Thanks Tiki, I am now more clear how to trade with PA, will be more careful next time.
  • #8,168
  • Dec 11, 2007 9:34am Dec 11, 2007 9:34am
Quoting HipsterPipster
Watching Aud/USD 4hr. May have a pin forming for long.
I really liked your old avatar a lot better
Trust price. Know yourself.
  • #8,169
  • Dec 11, 2007 9:38am Dec 11, 2007 9:38am
Quoting SeekingLight
I really liked your old avatar a lot better
Still have it. But with a name like mine, I figured I should go for it! Couldn't help myself. Go dollar go.....
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  • #8,170
  • Dec 11, 2007 9:42am Dec 11, 2007 9:42am
Quoting HipsterPipster
Watching Aud/USD 4hr. May have a pin forming for long.
Going for it even in the face of news. Set buy limit for .8850
  • #8,171
  • Dec 11, 2007 10:10am Dec 11, 2007 10:10am
Quoting HipsterPipster
Going for it even in the face of news. Set buy limit for .8850
I am long as well.
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  • #8,172
  • Dec 11, 2007 10:17am Dec 11, 2007 10:17am
Quoting ellipses
I am long as well.
See if we can catch some dingos
  • #8,173
  • Dec 11, 2007 11:25am Dec 11, 2007 11:25am
Quoting HipsterPipster
See if we can catch some dingos
Me too from the DBLHC
  • #8,174
  • Dec 11, 2007 11:44am Dec 11, 2007 11:44am
Broken PB on WZ7....
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  • #8,175
  • Dec 11, 2007 11:48am Dec 11, 2007 11:48am
price hit ppz around 2.05 and retraced to another one....
one hour and 10min to go...
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  • #8,176
  • Dec 11, 2007 11:50am Dec 11, 2007 11:50am
Still holding the GBP/USD long from the pin last week. It is now at a 61.8% retracement of yesterday's surge up.

Where are people placing stops on this, bottom of yesterday's bar or somewhere beneath 61.8% or some other method?
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"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #8,177
  • Dec 11, 2007 12:38pm Dec 11, 2007 12:38pm
Pb off PPZ and broken TL re-test.....
it can't get any easier as J16 would say...
Let's see what happens after the news.
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  • #8,178
  • Edited 3:22pm Dec 11, 2007 2:54pm | Edited 3:22pm
Heyho,

I just learnt a VERY important lesson. Be aware of the news. I am almost certain that it was the interest rate statement that took me out of my AUDUSD and AUDJPY longs. I should not have entered one day before such an important news event. What I don't understand, however, is why USD gained strength after the interest rate cut. The way I understood interest rate cuts is that they weaken a currency because just holding the currency (without movements in the market) yields less interest and thus people don't look to buy after an interst rate cut. So, what am I missing.

*shit, two stupid losses that will make it harder to come out with a positive balance this month.

Chris

just read raczekfx's answer... so to simplify it, if rates are cut less than expected than the currency gains strength, if the rates are cut more than expected it falls hard and if rate cuts comply with the expectations there doesn't happen much.
  • #8,179
  • Dec 11, 2007 3:10pm Dec 11, 2007 3:10pm
Quoting creeper
Heyho,

I just learnt a VERY important lesson. Be aware of the news. I am almost certain that it was the interest rate statement that took me out of my AUDUSD and AUDJPY longs. I should not have entered one day before such an important news event. What I don't understand, however, is why USD gained strength after the interest rate cut. The way I understood interest rate cuts is that they weaken a currency because just holding the currency (without movements in the market) yields less interest and thus people don't look to buy after an interst rate cut. So, what am I missing.

*shit, two stupid losses that will make it harder to come out with a positive balance this month.

Chris
It was carry unwinding due to investors disappointment with smaller then expected cut. Look at the chart below.... Support at 1500 was blown away with ease.... That's why it's important to have your stops handy...
.
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  • #8,180
  • Dec 11, 2007 3:11pm Dec 11, 2007 3:11pm
Quoting creeper
Heyho,

I just learnt a VERY important lesson. Be aware of the news. I am almost certain that it was the interest rate statement that took me out of my AUDUSD and AUDJPY longs. I should not have entered one day before such an important news event. What I don't understand, however, is why USD gained strength after the interest rate cut. The way I understood interest rate cuts is that they weaken a currency because just holding the currency (without movements in the market) yields less interest and thus people don't look to buy after an interst rate cut. So, what am I missing.

*shit, two stupid losses that will make it harder to come out with a positive balance this month.

Chris
I think that USD gained strenght because the market already knew from long time the interest cut of 25 BP and it was already priced in the dollar pair from long time.
And the fact that the cut was not bigger gave strenght to the dollar
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