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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

  • #8,761
  • Jan 15, 2008 9:39pm Jan 15, 2008 9:39pm
Woohoo! Yen pairs looking to tank.

Looks bad for my NZD/JPY trade but! LOL
Bundy's status today: "Waiting..."
  • #8,762
  • Jan 15, 2008 9:52pm Jan 15, 2008 9:52pm
Quoting bundyraider
Woohoo! Yen pairs looking to tank.

Looks bad for my NZD/JPY trade but! LOL
LOL, everytime it bouces up, I grap two scoops.
  • #8,763
  • Jan 15, 2008 10:06pm Jan 15, 2008 10:06pm
I'm not too worried about my WoollyNoodle long going bad. Currently short on 3 other yen pairs anyway. LOL
Bundy's status today: "Waiting..."
  • #8,764
  • Jan 16, 2008 12:02am Jan 16, 2008 12:02am
Quoting bundyraider
I'm not too worried about my WoollyNoodle long going bad. Currently short on 3 other yen pairs anyway. LOL

mmmmmmm. bundy.. them bears know how to have a good time.
  • #8,765
  • Jan 16, 2008 3:21am Jan 16, 2008 3:21am
Quoting bundyraider
Good to be back mate.

Have kind of lurked occasionly. Family business got very busy mid year (our peak season) Couldn't find the patience for a while.

Took a while to get back to the swing of the charts again. Isn't it amazing how much you rely on having a 'feel' for the price action on top of your knowledge?! LOL

Bundy! Welcome back =D

The one guy that also uses those FE 100s

Hope you been well! And yea, that feel is starting to visit more often here, but it still sometimes hurts my feelings as well, too!

Anyhow
Trust price. Know yourself.
  • #8,766
  • Jan 16, 2008 11:37am Jan 16, 2008 11:37am
i took EURUSD with was double pin at NF and BEOB at Interbank. Took profit on half at 14655. Stop was above 14950... bad rr.

that was too much wrong?
  • #8,767
  • Jan 16, 2008 2:15pm Jan 16, 2008 2:15pm
Quoting giraia_br
i took EURUSD with was double pin at NF and BEOB at Interbank. Took profit on half at 14655. Stop was above 14950... bad rr.

that was too much wrong?
I also saw this 2-day pin. Short entry on a 50% ret of pin at 1.4850 and T/P 1.4700 for a profit of 150 pips. S/L at top of pin, 1.4921. In retrospect I could have let it run a bit more, as daily low hit below 1.4600.

Also, quick question on risk/reward ratio. My stop covered about 75 pips and my T/P 150 pips. So would my RR be 2:1? (The way I see it, every pip of potential risk there are 2 of potential reward.... but I'm not sure.) Also, what do people recommend as a good risk/reward ratio?

Any feedback is welcome, be it positive or negative.... this is only my 2nd week paper trading. Great thread, I've already learned so much!
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  • #8,768
  • Jan 16, 2008 3:22pm Jan 16, 2008 3:22pm
any pin bar traders here....?
I only like two of them...
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  • #8,769
  • Jan 16, 2008 3:32pm Jan 16, 2008 3:32pm
Quoting raczekfx
any pin bar traders here....?
I only like two of them...
I'm going to venture a guess and say CADJPY & NZDJPY.....?
  • #8,770
  • Jan 16, 2008 3:38pm Jan 16, 2008 3:38pm
Quoting niner49
I also saw this 2-day pin. Short entry on a 50% ret of pin at 1.4850 and T/P 1.4700 for a profit of 150 pips. S/L at top of pin, 1.4921. In retrospect I could have let it run a bit more, as daily low hit below 1.4600.

Also, quick question on risk/reward ratio. My stop covered about 75 pips and my T/P 150 pips. So would my RR be 2:1? (The way I see it, every pip of potential risk there are 2 of potential reward.... but I'm not sure.) Also, what do people recommend as a good risk/reward ratio?

Any feedback is welcome, be it positive or negative.... this is only my 2nd week paper trading. Great thread, I've already learned so much!
Excellent trade there Niner.
  • #8,771
  • Jan 16, 2008 3:49pm Jan 16, 2008 3:49pm
Quoting mamutot
i hope that means downwards..

i also think so

yes - now i am sure it will




anybody??

http://www.forexfactory.com/showpost...postcount=8741
i like it...

i think it will be a strong one as well..might hit resistance at 1.4300

but lets wait and see..

btw - all JPY's are not going to make the PB in my opinion.. simply because it wont - it will just retest the support areas it has now crossed..

again - thats what i think - lets wait and see..

Happy Trading
  • #8,772
  • Jan 16, 2008 3:51pm Jan 16, 2008 3:51pm
Quoting niner49
I'm going to venture a guess and say CADJPY & NZDJPY.....?
cad and gbp
  • #8,773
  • Jan 16, 2008 5:07pm Jan 16, 2008 5:07pm
Nice trade.

Quoting mamutot
i like it...

i think it will be a strong one as well..might hit resistance at 1.4300

but lets wait and see..

btw - all JPY's are not going to make the PB in my opinion.. simply because it wont - it will just retest the support areas it has now crossed..

again - thats what i think - lets wait and see..

Happy Trading
  • #8,774
  • Jan 16, 2008 6:01pm Jan 16, 2008 6:01pm
Quoting raczekfx
any pin bar traders here....?
I only like two of them...
I'd sooner take a 5m bear-PB than any of those
Trust price. Know yourself.
  • #8,775
  • Jan 16, 2008 6:05pm Jan 16, 2008 6:05pm
Quoting niner49
I also saw this 2-day pin. Short entry on a 50% ret of pin at 1.4850 and T/P 1.4700 for a profit of 150 pips. S/L at top of pin, 1.4921. In retrospect I could have let it run a bit more, as daily low hit below 1.4600.
This is what I keep saying.

Quote
Also, quick question on risk/reward ratio. My stop covered about 75 pips and my T/P 150 pips. So would my RR be 2:1? (The way I see it, every pip of potential risk there are 2 of potential reward.... but I'm not sure.) Also, what do people recommend as a good risk/reward ratio?

If risk is A and reward is B then risk/reward is A / B

75 risk / 150 reward = 1 :2 risk / reward - 2 pips won for each risked.

I used to think anything from 1:2-1:5 was a really good risk/reward ratio, now I am starting to think anything above 1:5 is what one should aim for eventually

But don't mind me, I'm just surfing a wave of lucky break mania here

Quote
Any feedback is welcome, be it positive or negative.... this is only my 2nd week paper trading. Great thread, I've already learned so much!

I just feel it never hurts to let winners run - sometimes even on the risk of giving back most; if you catch the "real runner" you will be all the happier for it. This is very individual however and sometimes it seems like smaller, snappier trades can do just as well in pumping up profit.

I really have to come back to the old adage - find what works for YOU.
Trust price. Know yourself.
  • #8,776
  • Jan 16, 2008 6:05pm Jan 16, 2008 6:05pm
Quoting SeekingLight
I'd sooner take a 5m bear-PB than any of those
... I know you would...
  • #8,777
  • Jan 16, 2008 6:15pm Jan 16, 2008 6:15pm
Quoting raczekfx
... I know you would...

As I thought. Racze is selling yen again while Seeking is buying them.
Yet they both make pips..mmmmmm..
  • #8,778
  • Edited Jan 17, 2008 12:35am Jan 16, 2008 6:35pm | Edited Jan 17, 2008 12:35am
Would like comment on this set up(SL,MBQ,Raczek......... ). Is this valid??

Of interest to me is Fozzy trigger with healthy divergence @ Double Bottom.

Regards

RBS
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  • #8,779
  • Jan 16, 2008 11:56pm Jan 16, 2008 11:56pm
What do you think about the daily pin on gj , I see confluence at the bottom of the channel with the 150 monthly, weekly 365 and monthly ppz. Any thoughts ? is the pressure to strong to keep pushing down?
The more obstacles I overcome the better man I become.
  • #8,780
  • Jan 17, 2008 12:16am Jan 17, 2008 12:16am
I like the fib expansion confluences on the gbpjpy daily, and also a bounce off 61.8% retracement on weekly. Looks like a strong support to me, what do you guys think?
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