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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

  • #9,061
  • Edited Feb 11, 2008 5:02pm Feb 8, 2008 7:49am | Edited Feb 11, 2008 5:02pm
  •  007
  • | Joined Jun 2007 | Status: "Undisciplined Trader" | 49 Posts
A good buying opportunity at 1.4500 as price broke out intra-day range?
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  • #9,062
  • Edited 1:29am Feb 9, 2008 1:05am | Edited 1:29am
Quoting Mr Trend
One of my favorite trades...
scallops!

sorry guys, not sure if this is the right place to ask abt ascending scallops but this is the 1st time someone mentioned ascending scallops in FF.

Mr Trend
how you trade inverted or ascending scallops? Till now i still dont have a firm grip even though i do used bulkoski's price patterns.

Do you buy once the 1st ascending scallop is completed or u wait for confirmation line (price penetrate a higher high (peak) of the scallop?)

thanks
  • #9,063
  • Feb 9, 2008 1:32am Feb 9, 2008 1:32am
Quoting 007
A good buying opportunity at 1.4500 as price broke out intra-day range?

Hi 007,

Can you resize your chart to more browser-friendly size e.g. 800x600? Everyone need to scroll to read the text, will be much more user friendly if we keep it within a smaller size.

thanks
  • #9,064
  • Feb 9, 2008 7:43am Feb 9, 2008 7:43am
Quoting 007
A good buying opportunity at 1.4500 as price broke out intra-day range?
Easy with the large sized screenshot dude.
  • #9,065
  • Feb 10, 2008 5:44pm Feb 10, 2008 5:44pm
Any thoughts on the 4h pin on EURJPY? I think it looks good, it's at a ppz in confluence with fib , higher low. Only problem I see is the strong resistance with 365.
The more obstacles I overcome the better man I become.
  • #9,066
  • Feb 10, 2008 6:03pm Feb 10, 2008 6:03pm
I don't see a 4 hr pin on EJ. Currently market is in a sideways channel 155.14-156 .18 area. Wait for the break out and test of PPZ.
  • #9,067
  • Feb 10, 2008 6:36pm Feb 10, 2008 6:36pm
Quoting HipsterPipster
I don't see a 4 hr pin on EJ. Currently market is in a sideways channel 155.14-156 .18 area. Wait for the break out and test of PPZ.
Sorry, I meant the Daily EURJPY
The more obstacles I overcome the better man I become.
  • #9,068
  • Feb 10, 2008 8:36pm Feb 10, 2008 8:36pm
S/R Levels (4 hour) and Daily Pin Bar on the GBPJPY.
Bigger trend : down. Pin Bar : up. Where will price go?
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Indicators show the past. Price Action "Indicates" the future.
  • #9,069
  • Feb 11, 2008 2:29am Feb 11, 2008 2:29am
I'd say I'm still not touching the Yen short(long xxxJPY), but I probably sound like a broken record by now, having reiterated this for months

I am so hoping GJ stays below 207.30 now for good...and UJ finally gets it's breakdown...and EJ FINALLY loses that gigantic weekly TL...and...and..and
Trust price. Know yourself.
  • #9,070
  • Edited 4:19am Feb 11, 2008 4:08am | Edited 4:19am
Quoting SeekingLight
I'd say I'm still not touching the Yen short(long xxxJPY), but I probably sound like a broken record by now, having reiterated this for months

I am so hoping GJ stays below 207.30 now for good...and UJ finally gets it's breakdown...and EJ FINALLY loses that gigantic weekly TL...and...and..and
Well , I told you I was getting in. :

This is my second attempt. ...I'm happy with the risk! LOL
(Baby sat first entry Friday to a little bit worse than breakeven. )

Really interested to see what wins out here.

My thoughts are with governments being keen to stall any major breakdown in the global markets.

....But I don't particularly care too much.
A good daily pin is a good daily pin! A pin off the lower fibs to go with that gives me a lower risk ratio. Who cares if it fails!
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Bundy's status today: "Waiting..."
  • #9,071
  • Feb 11, 2008 4:40am Feb 11, 2008 4:40am
Quoting bundyraider
Well , I told you I was getting in. :

This is my second attempt. ...I'm happy with the risk! LOL
(Baby sat first entry Friday to a little bit worse than breakeven. )

Really interested to see what wins out here.

My thoughts are with governments being keen to stall any major breakdown in the global markets.

....But I don't particularly care too much.
A good daily pin is a good daily pin! A pin off the lower fibs to go with that gives me a lower risk ratio. Who cares if it fails!

True true...the brother was nicer though, GBPCHF and EURGBP..no idea if you saw at the time...also GBPUSD seems to be the one responsible more than UJ...I'm sorry, the Equinox has me...Just wanted to say I remain cautious one way or another, stops are tighter than usual and a lot of vigilance is needed..
Already took a bit of profit at 207.50 retest on the way down, seems you took the other side after it came back up! ;p

It feels like the USDX might suffer some buttkicking again soon, too..

I can't believe I didn't get any kind of decent entry into AUDUSD..but at least I have some Gold and Silver to hoard

Good luck with GJ, EURGBP should be on your side

I'ma stick to semi-hedging my GJ shorts with well justified GBPUSD longs
Trust price. Know yourself.
  • #9,072
  • Feb 11, 2008 5:11am Feb 11, 2008 5:11am
Quoting SeekingLight
..Just wanted to say I remain cautious one way or another, stops are tighter than usual and a lot of vigilance is needed..
Too right.

Have been cautious since we hit these Weekly EMAs.

I agree with Cable pulling the strings. Was doing the same Friday.

Missed AUD too. ...But more stupidly, at one point last week I was watching the trend line it's just bounced off! LOL

There's certainly conflicting moves over the board IMO. USD based action verses carry trade confusion.

Just took half profits on the Long. Holding previous Stop Loss. This gives me a breakeven trade at worse. ...I'll add to it later if she show's she deserves it.
Bundy's status today: "Waiting..."
  • #9,073
  • Feb 11, 2008 6:33am Feb 11, 2008 6:33am
Quoting bundyraider
Well , I told you I was getting in. :

This is my second attempt. ...I'm happy with the risk! LOL
(Baby sat first entry Friday to a little bit worse than breakeven. )

Really interested to see what wins out here.

My thoughts are with governments being keen to stall any major breakdown in the global markets.

....But I don't particularly care too much.
A good daily pin is a good daily pin! A pin off the lower fibs to go with that gives me a lower risk ratio. Who cares if it fails!

With you here.
Seeking the equinox is 21st march....it's the begining of spring just now
GOD IS NOT SHORT OF CASH
  • #9,074
  • Feb 11, 2008 7:37am Feb 11, 2008 7:37am
Quoting Swami S
With you here.
Seeking the equinox is 21st march....it's the begining of spring just now


And V-Day approacheth

But I was referring to Mr Trend's Helsinki Quadrant Equinox super secret power formula approach which I like to utilize in my simplistic world and market view(check a few posts back)
Trust price. Know yourself.
  • #9,075
  • Feb 11, 2008 9:15am Feb 11, 2008 9:15am
With all due respect to Mr Trend, his Helsinki quadrant equinox has been dismissed by the G7. However it could be still compatible if used in conjunction with its atmospheric refraction and the Wolfram Zeta polynomials.


Quoting SeekingLight


And V-Day approacheth

But I was referring to Mr Trend's Helsinki Quadrant Equinox super secret power formula approach which I like to utilize in my simplistic world and market view(check a few posts back)
  • #9,076
  • Feb 11, 2008 9:16am Feb 11, 2008 9:16am
Quoting SeekingLight
I'd say I'm still not touching the Yen short(long xxxJPY), but I probably sound like a broken record by now, having reiterated this for months

I am so hoping [..]...and EJ FINALLY loses that gigantic weekly TL...and...and..and
This is to show what I mean => the lower TL, the retest of the horizontal s/r, then if that's lost for good, well, er, uhm...

I guess there will be heaps of protection attempts going on, one right now probably
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Trust price. Know yourself.
  • #9,077
  • Feb 12, 2008 3:34am Feb 12, 2008 3:34am
More down side from 208.84.
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Indicators show the past. Price Action "Indicates" the future.
  • #9,078
  • Feb 12, 2008 9:38am Feb 12, 2008 9:38am
First thank you all for this great thread!

I'm new to trading and I only have been taking the best of buy signal. I'm trading the Vegas 1 and 4hr Tunnel System.

Like any newbie, I let am yet STRONG enough to let my winner run and here is another case of that.

Please critique my current trade... I closed my position too early because the fear reversal due to the first sign of a pin bar at the end of of 2:00.

The challenge is that I'm very discipline in the golden rule of NEVER NEVER EVER let a Winner into a loser. Any input is greatly appreciated.

(I appreciate input on both the entry and the exit)
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  • #9,079
  • Feb 12, 2008 12:18pm Feb 12, 2008 12:18pm
Quoting traderjon
First thank you all for this great thread!

I'm new to trading and I only have been taking the best of buy signal. I'm trading the Vegas 1 and 4hr Tunnel System.

Like any newbie, I let am yet STRONG enough to let my winner run and here is another case of that.

Please critique my current trade... I closed my position too early because the fear reversal due to the first sign of a pin bar at the end of of 2:00.

The challenge is that I'm very discipline in the golden rule of NEVER NEVER EVER let a Winner into a loser. Any input is greatly appreciated.

(I appreciate input on both the entry and the exit)
I'm also a newb, but I don't see a pinbar on your chart around the white circles. Correct me if I'm wrong, but a good pinbar has these general characteristics:

-Located at swing high/low
-Protruding "nose", with open/close within 33% of one end of bar
-Both open and close for pin bar should be less than the high point/more than low point reached by the left eye.
-Right eye should be within range of left eye

Also, most of the experienced traders recommend you stick to larger time frames (daily, weekly) while you earn your trading stripes.
  • #9,080
  • Feb 12, 2008 1:10pm Feb 12, 2008 1:10pm
Quoting niner49
I'm also a newb, but I don't see a pinbar on your chart around the white circles. Correct me if I'm wrong, but a good pinbar has these general characteristics:

-Located at swing high/low
-Protruding "nose", with open/close within 33% of one end of bar
-Both open and close for pin bar should be less than the high point/more than low point reached by the left eye.
-Right eye should be within range of left eye

Also, most of the experienced traders recommend you stick to larger time frames (daily, weekly) while you earn your trading stripes.
Thank you for your input...

maybe im just freakin out and not totally understanding the whole concept. what do you mean "within 33% of one end of the bar"? the open and close of the 2 circle bar is within the range of the previous eye and the what i thought was a nose stuck out alot relative to whats around it? and i thought it was going to keep reversing too because it did go down since the bar i thought was a pin came upon.

Please help. Any input on the entry?
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