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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

  • #8,381
  • Dec 23, 2007 5:22am Dec 23, 2007 5:22am
Quoting jatis
Hi Steve & Chris,

I have the same story for EUR-CAD.

I have several idea about exit.

Because we use weekly bar to enter then we wait until weekly candle finish at the end of the week to take profit.

Regarding to 18 dec price volatility, we wait until that candle close upper support to close our profit/loss.(see picture)

Any other idea ?

BTW just my 2 cents
I completely agree with you. It has often been said that one should exit a trade on the same timeframe that one entered a trade. 150 pips trailing stop sounds VERY large but we have to remember that we are on the weekly timeframe and on EURCAD, so accordingly even this stop would be too tight and we have to take the size of the bars into account. So I guess it would be best to just watch the weekly timeframe and maybe move stops to breakeven after the daily bar that came after the pin so that we can't lose anything (would have worked out).

Chris
  • #8,382
  • Dec 25, 2007 1:42pm Dec 25, 2007 1:42pm
May I take this opportunity to wish everyone here a very merry Christmas and a happy and prosperous New Year.
  • #8,383
  • Dec 25, 2007 8:38pm Dec 25, 2007 8:38pm
Merry Christmas and a very Happy New Year to you too and everyone in this thread.
The more obstacles I overcome the better man I become.
  • #8,384
  • Dec 26, 2007 4:41am Dec 26, 2007 4:41am
Quoting nico28
Hi,

AUDUSD appear to have a Pin bar on 17 Dec. Now price to retrace to 0.8565. There are 3 confluence of events taking place at this price level, MOnthly S1 at 0.8520; Daily S1 at 0.8547 and fib 50% retracement at 0.8547
So should i wait for break of pin bar at 0.8606 or go long at retracement now ? At 07:30 ET, there is news come AUD. So can we trade before news ?

Appreciate your comments.
hi NICO,
can i have your email?

im malaysian..like to have chat with you!

im Malaysian..and so far cant understand a thing about this method..

would appreciate if u can help me..

ciebie44atyahoodotcom
{Promotion Removed}
  • #8,385
  • Dec 26, 2007 8:03am Dec 26, 2007 8:03am
I just finish the first 1000 posts. What a journey.

Thanks Jim, this is the most beautiful thread I ever read, I just can not stop reading all four days long. And thanks all the participators.
  • #8,386
  • Dec 26, 2007 8:12am Dec 26, 2007 8:12am
The two bar top
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 31 KB
  • #8,387
  • Dec 26, 2007 12:17pm Dec 26, 2007 12:17pm
Hi guys,

I think GJ is making some breakout, see the daily chart!

Happy new year too everyone!
  • #8,388
  • Dec 26, 2007 4:46pm Dec 26, 2007 4:46pm
I would be very suspicious of any price move today... today is as close to a holiday as you can get without it actually being one... any trading even this week I think would be dangerous....


Quoting qiuhd
Hi guys,

I think GJ is making some breakout, see the daily chart!

Happy new year too everyone!
  • #8,389
  • Edited Dec 27, 2007 3:43am Dec 26, 2007 5:05pm | Edited Dec 27, 2007 3:43am
Hope James and others had a nice Xmas so now im wishing yall a Happy and Profitable New Year Cheers!!!

PS. When does PF opens James? I cant wait lol
  • #8,390
  • Dec 26, 2007 8:10pm Dec 26, 2007 8:10pm
Quoting Tiki Trader
I would be very suspicious of any price move today... today is as close to a holiday as you can get without it actually being one... any trading even this week I think would be dangerous....

Yes, you are right, I just move the stop to BE.
  • #8,391
  • Dec 27, 2007 9:16am Dec 27, 2007 9:16am
Nice 4 hr pin outside of traffic.
Attached Image
Life is too short to have anything but delusional notions about yourself.
  • #8,392
  • Dec 27, 2007 9:50am Dec 27, 2007 9:50am
Yes, I was looking at that too... !!! I did not take it though because I don't trade well on 4 hr time frames and also because I thought somehow it might be related to Pakistan news... but I see it is making pips so far...

Quoting hoss
Nice 4 hr pin outside of traffic.
  • #8,393
  • Dec 27, 2007 9:54am Dec 27, 2007 9:54am
hey hoss, your pinbar did already work out on my 4 hr chart. It did also close just below the 150 EMA. I am not allowed to trade 4 hr charts but there is also a daily pin forming. It's still 7 hours until the daily bar closes but hopefully we get a daily pinbar.

By the way, look at the huge resistance area on top of the pinbar

Chris
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy27.12.2007.gif Size: 24 KB
  • #8,394
  • Dec 27, 2007 10:33am Dec 27, 2007 10:33am
Yeah creeper...!! I think you are spot on with that !!! I did not see that... might would have been enough reason for me to have taken the trade...!!! BUT, on the other hand...

Quoting creeper
hey hoss, your pinbar did already work out on my 4 hr chart. It did also close just below the 150 EMA. I am not allowed to trade 4 hr charts but there is also a daily pin forming. It's still 7 hours until the daily bar closes but hopefully we get a daily pinbar.

By the way, look at the huge resistance area on top of the pinbar

Chris
  • #8,395
  • Dec 27, 2007 10:43am Dec 27, 2007 10:43am
Yeah, I'm up about 60 pips which is nothing on the beast, but I may hold to see how the daily pin works out.
Life is too short to have anything but delusional notions about yourself.
  • #8,396
  • Dec 27, 2007 11:08am Dec 27, 2007 11:08am
Still trying to understand these pin bars ... looking at the chart am I right in supposing that we should go short if it breaks below 226.73 ? Looking at the other shoulder to put a SL we should aim at around 227.70 ?

Am I understanding this right?
  • #8,397
  • Dec 27, 2007 11:14am Dec 27, 2007 11:14am
For a conservative trade you would enter on the break of the bottom of the pin bar which is around 227.15. Your stop would be a few pips beyond the top of the pin bar which is around 228.50. Exits are a little more discretional. I was looking for 225.70 which is around the left shoulder, but you may trail and lock in profits as it goes.
Life is too short to have anything but delusional notions about yourself.
  • #8,398
  • Dec 27, 2007 11:20am Dec 27, 2007 11:20am
Funny what timezones do to us... looking at my 4H chart says the bottom of the pin is 226.74 and the top is 228.34

I'm London time.
  • #8,399
  • Dec 27, 2007 11:28am Dec 27, 2007 11:28am
Quoting branco
Funny what timezones do to us... looking at my 4H chart says the bottom of the pin is 226.74 and the top is 228.34

I'm London time.
Oh, ok. I'm using FXDD (MT4) charts.
Life is too short to have anything but delusional notions about yourself.
  • #8,400
  • Dec 27, 2007 12:21pm Dec 27, 2007 12:21pm
Hi friends, do you guys trade other price action except pin bar? thanks
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