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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

  • #10,021
  • Apr 14, 2008 5:57am Apr 14, 2008 5:57am
Quoting Mr Smith
that spike stopped me out on euro, oanda refunded me and gave a exit of 5670,nice of them. they said a bank gave them some false feed.
Same here, that spike also stopped me out on the euro and OANDA issued a refund. My e-mail hasn't gone through their servers regarding the reasons for the spike... False feed huh? mmmmmmm
  • #10,022
  • Apr 14, 2008 6:03am Apr 14, 2008 6:03am
Quoting OGW
Hi, anyone thinking of playing this weekly pin? I would love to hear your comments. Sebastien
Hey Sebastian, I've entered a sell order for that move... I like the longer term playout on that!
  • #10,023
  • Edited 6:14am Apr 14, 2008 6:10am | Edited 6:14am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
I am not good at trading breakout,whenever I decided to play breakout, the market seems knowing this is Krue, let us set him up, see, I am shaked out again today, and this one was a Pin Bar. probably someone can help me understand this, anything wrong with my order? thank you
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  • #10,024
  • Apr 14, 2008 8:47am Apr 14, 2008 8:47am
Quoting krue
I am not good at trading breakout,whenever I decided to play breakout, the market seems knowing this is Krue, let us set him up, see, I am shaked out again today, and this one was a Pin Bar. probably someone can help me understand this, anything wrong with my order? thank you
Hi Krue,

IMO, the best way to play breakouts is by waiting for price to retrace back to the breakout area in order to confirm the area will hold and it wasnt false.
After the area is tested and price continues in the direction of the breakout you can then place an order. You can also wait for some kind of a PA signal (Pinbar, BUOB, IB etc) when price has retraced back to the breakout spot. That gives even more confirmation.

Tom
  • #10,025
  • Apr 14, 2008 8:52am Apr 14, 2008 8:52am
And for the 4H pin bar trade, I cant say there's anything wrong with it.
4H Buy pin off the ascending trendline and the recent trend is up. But overall the pair is in a strong downtrend.
We'll see how that plays out.
The other thing that I see is a bit of resistance at 101.00.
  • #10,026
  • Edited 11:46am Apr 14, 2008 9:32am | Edited 11:46am
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  • #10,027
  • Apr 14, 2008 9:36am Apr 14, 2008 9:36am
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  • #10,028
  • Apr 14, 2008 9:52am Apr 14, 2008 9:52am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Thanks a lot, rac,

I can understand better about TL now, the junction of two lines gives more confidence. JU is very choppy today, I'd better to wait something obvious to trade with, I guess. Have a nice day

Quoting raczekfx
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  • #10,029
  • Apr 14, 2008 10:02am Apr 14, 2008 10:02am
  •  krue
  • | Joined Mar 2008 | Status: finger scares cat, power of illusio | 410 Posts
Hi, Money

Yes, you are absolutely right,it is very bearish now, I should have looked at weekly view before entering the long position, even though there was a weekly Pin Bar, I guess it consumed its energy already.

Thanks a lot, Money, for your comment

Quoting moneybags
And for the 4H pin bar trade, I cant say there's anything wrong with it.
4H Buy pin off the ascending trendline and the recent trend is up. But overall the pair is in a strong downtrend.
We'll see how that plays out.
The other thing that I see is a bit of resistance at 101.00.
  • #10,030
  • Apr 14, 2008 11:36am Apr 14, 2008 11:36am
a PB confirmation off the low?
.. does it give a signal to go long on carries and dow...?
we shall see in just few short hours how good it was.

p.s.
not a recommendation, just an observation....
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  • #10,031
  • Apr 14, 2008 1:29pm Apr 14, 2008 1:29pm
Quoting raczekfx
a PB confirmation off the low?
.. does it give a signal to go long on carries and dow...?
we shall see in just few short hours how good it was.
Well GBPJPY is still suffering..here, let me post some funky geometry
This is how bad it gets when I don't stop drawing ;p
I keep on seeing new stuff to put in, especially on 1h..(even just now after posting, on the top right - there's a support -> resistance flip I didn't draw in!)

This declining TL is pretty much mirrored on GBPUSD..question is to which side we'll break, no?

I for one quite frankly do not side with the "the bottom is in" believers in regards to carry and S&P/DJI...I think we still have to get that one big wakeup call move(whenever, but we DO need to see it imho).
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Trust price. Know yourself.
  • #10,032
  • Apr 14, 2008 1:47pm Apr 14, 2008 1:47pm
Just wanted to post this beauty. I don't trade these small timeframes but if you have mastered the large time frames and come across something like that it might be worth giving it a shot. Quick 1:3RR.

Chris

By the way: I was short GBPUSD from the last daily pin and stupid Oanda closed my trade because I went long on the sunday gap.
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  • #10,033
  • Edited 2:12pm Apr 14, 2008 2:01pm | Edited 2:12pm
That was definitely a beautiful pin bar since it also occured right off the DTL that started forming around March 13th. I don't trade the lower time frames either, but I was down on the hourly looking for an entry since we were right at the DTL.

I don't want to pick a fight here, but I don't think that OANDA closed your trade - they simply don't let you trade in both directions on the same account (a sub-account is required). You can't blame the broker even if you think the rule isn't very good.

Brian

Quoting creeper
Just wanted to post this beauty. I don't trade these small timeframes but if you have mastered the large time frames and come across something like that it might be worth giving it a shot. Quick 1:3RR.

Chris

By the way: I was short GBPUSD from the last daily pin and stupid Oanda closed my trade because I went long on the sunday gap.
  • #10,034
  • Apr 14, 2008 2:08pm Apr 14, 2008 2:08pm
Well spotted Chris! I don't trade the smaller timeframes either but that was a nice move I wouldn't mind looking for in the near future!

also byorkFX is right about the OANDA thing... In that case I only open counter positions when I'm scaling out of a trade. I know some other brokers allow you to do it but OANDA doesn't. Still enjoy their business though!

Carlos
  • #10,035
  • Apr 14, 2008 2:56pm Apr 14, 2008 2:56pm
Yeah, you guys are right it was of course my fault because I just had prior experience with Metatrader demo accounts where you could hedge your position. Oanda is great though. By the way if you guys look at EURUSD there has also been a 15 minute pinbar which alongside with the GBPUSD pin would have been a good entry signalling dollar strength across the board.
  • #10,036
  • Apr 14, 2008 3:06pm Apr 14, 2008 3:06pm
I didn't catch the E/U pin on the 15 minute chart since I was focused too hard on the 1 hour G/U at the DTL. It would have been nice to catch that E/U pin since it would have given me confidence to hold my G/U trade longer (I bailed early, although I'm back in with the weakness shown today, just at a worse price).
Thanks for sharing your pins - I'll get this sooner or later, although I plan to stick with the higher time frames since I'm still too new.

Quoting creeper
Oanda is great though. By the way if you guys look at EURUSD there has also been a 15 minute pinbar which alongside with the GBPUSD pin would have been a good entry signalling dollar strength across the board.
  • #10,037
  • Apr 14, 2008 3:29pm Apr 14, 2008 3:29pm
Hello fellow traders,


I would greatly appreciate if some member of the james16 group could tell me (a) Roughly speaking how many videos are in the james 16 group ie is it less than or more than a 100. (b) Has most of the information moved to a video format yet. Thanks in advance,



Andrew
  • #10,038
  • Edited 3:56pm Apr 14, 2008 3:46pm | Edited 3:56pm
Quoting SeekingLight
Well GBPJPY is still suffering..here, let me post some funky geometry
This is how bad it gets when I don't stop drawing ;p
I keep on seeing new stuff to put in, especially on 1h..(even just now after posting, on the top right - there's a support -> resistance flip I didn't draw in!)

This declining TL is pretty much mirrored on GBPUSD..question is to which side we'll break, no?

I for one quite frankly do not side with the "the bottom is in" believers in regards to carry and S&P/DJI...I think we still have to get that one big wakeup call move(whenever, but we DO need to see it imho).
I'm not Picasso either..
Since we haven't recorded lower low today and Dow hasn't scared me much either, I'm seeing ########## on g/j.
We'll see....
One thing is certain; It will break out in the next few days.

p.s.
you know my yen trading is tied to chfs... ;-)
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  • #10,039
  • Apr 14, 2008 7:53pm Apr 14, 2008 7:53pm
Just though I'd take a break from doing my taxes and post this chart...

Looks like the price has broken out of the ascending triangle and has retraced to the pivot zone; and a nice little pb has formed right on the ppz...

Thoughts/criticism anyone?

Tyler


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skype: ststroud. let's talk trading.
  • #10,040
  • Apr 14, 2008 9:21pm Apr 14, 2008 9:21pm
Hi everyone, your comments and opinions are most appreciated however can I ask for some help. Someone on the site posted a link to a 'Trading Plan' could someone point me in the right direction since I cannot find it. Regards,Gerard
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