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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

  • #10,141
  • Apr 17, 2008 1:36pm Apr 17, 2008 1:36pm
Quoting raczekfx
That's pretty much it, mihali. My trading style is not conservative and I trade bounces/touches off of S/R areas. If I am right PA usually forms on the same day or the day after. I might add more at that time. If I'm wrong.. that's where hard stops come into play.

p.s. i don't recommend this style of trading. in the first several pages of this trade you'll find everything you need to be successful trader after some practice. (..forgot to add, psychology is a major factor here... )
hey rac,

how do you determine that it is indeed a bounce off the S/R area initially (lower timeframe possibly)?

thanks,
wc
  • #10,142
  • Apr 17, 2008 2:20pm Apr 17, 2008 2:20pm
Quoting saskgui
Why did not you not take the previous Thursday pin? Still establishing resistance?
I wasn't paying attention at a time, I think. Or, it could've been, I thought long entry at a time would be like catching a falling knife... You don't have to take all the trades and hope for the best. Trading aggressively exposes you to a much greater risk so you have to be really picky. If in doubt even for one second... stay out!


Quoting wave catcher
hey rac,

how do you determine that it is indeed a bounce off the S/R area initially (lower timeframe possibly)?

thanks,
wc
Sorry guys, we're getting off topic here by discussing individual trading styles. Let's talk PA again. So let's assume that the pair bounces off the low pivot and forms PA setup, a pin bar, IB or Beovb. If price breaks that setup to the upside, we can tell the bounce was successful and we're in a trade with good probability of making some money.
  • #10,143
  • Apr 17, 2008 4:50pm Apr 17, 2008 4:50pm
I drew this trend line in a week or so ago, and now an inside bar has formed in that area. Never played an inside bar before so I think I'll demo this with orders above and below the bar (+/- a few pips). How do the experienced folk out there view this setup? I'm at a loss as to where suitable places for the stop losses would be, and where to set an exit target... Actually looking back at the chart you could say its a dbhlc, only 4 pips in it...mmm...
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  • #10,144
  • Apr 17, 2008 5:55pm Apr 17, 2008 5:55pm
Quoting raczekfx
Sorry guys, we're getting off topic here by discussing individual trading styles. Let's talk PA again. So let's assume that the pair bounces off the low pivot and forms PA setup, a pin bar, IB or Beovb. If price breaks that setup to the upside, we can tell the bounce was successful and we're in a trade with good probability of making some money.
This was not off topic. This was explained perfectly.

Excellent raczekfx. I will add this to my Journal and read it everyday for a week.

Thanks,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #10,145
  • Apr 17, 2008 8:14pm Apr 17, 2008 8:14pm
hmmm....

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skype: ststroud. let's talk trading.
  • #10,146
  • Apr 17, 2008 9:14pm Apr 17, 2008 9:14pm
Quoting raczekfx
.

how high, sir...?
Yep, I am still in it.... It pays to zoom out and see the big picture. Thank you, James.
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  • #10,147
  • Apr 17, 2008 9:39pm Apr 17, 2008 9:39pm
Quoting raczekfx
.

how high, sir...?
105 ? and D1 365 FTB if oil and interest go as expected maybe up to 109
Oh how things have changed.....to 105 looks pretty clear above 103.5

Looking at ppz through fib retracements, extentions, ema,s and trend lines and just to see the confluence.


Knife topping at 105 too

I am waiting for a daily bar and until wkly dhlc is born out one way or the other i remain a bear. Side ways but fun to dream......
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GOD IS NOT SHORT OF CASH
  • #10,148
  • Apr 17, 2008 9:45pm Apr 17, 2008 9:45pm
Quoting mbqb11
who caught this one
Was waiting at 103 may still get a chance.
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GOD IS NOT SHORT OF CASH
  • #10,149
  • Apr 17, 2008 10:04pm Apr 17, 2008 10:04pm
If it is really going to play this out I would expect a stop hunt maybe another cahnce off .9950
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GOD IS NOT SHORT OF CASH
  • #10,150
  • Apr 17, 2008 11:21pm Apr 17, 2008 11:21pm
DHLC/TBH
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GOD IS NOT SHORT OF CASH
  • #10,151
  • Apr 18, 2008 5:53am Apr 18, 2008 5:53am
Hello!

Questions about OB & IB. Does someone have more info on that to better define a good IB&OB? Must they be activated on next bar, or else they are not valid ?
How many pips does it take for OB/IB to be activated on H1, H4, D1 and so on?

Thank you in advance !
  • #10,152
  • Apr 18, 2008 6:10am Apr 18, 2008 6:10am
Quoting bee24
Hello!

Questions about OB & IB. Does someone have more info on that to better define a good IB&OB? Must they be activated on next bar, or else they are not valid ?
How many pips does it take for OB/IB to be activated on H1, H4, D1 and so on?

Thank you in advance !
I suggest you read the whole thread a few times then you will have answers to all your questions. Theres is more then enough information in this thread. But feel free to ask anytime, if people have time they will answer, but now we are having some nasty action like on geppy or swissey...

cheers
  • #10,153
  • Apr 18, 2008 6:21am Apr 18, 2008 6:21am
Quoting belekas
I suggest you read the whole thread a few times then you will have answers to all your questions. Theres is more then enough information in this thread. But feel free to ask anytime, if people have time they will answer, but now we are having some nasty action like on geppy or swissey...

cheers
Some nice upward action on the geppy for me, but I guess that would mostly depends on who's winning or losing...
  • #10,154
  • Apr 18, 2008 8:33am Apr 18, 2008 8:33am
Can we call it (blue area) a good confluence?
L
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  • #10,155
  • Apr 18, 2008 9:05am Apr 18, 2008 9:05am
Quoting lacika
Can we call it (blue area) a good confluence?
L
Hi Lacika,

IMO the 2nd fib you drew (from Mar 17) is not really valid. That's not really a retracement.
I would draw a 2nd fib from the top of the pin on Mar 27th.
That's just the way I see it.

Tom
  • #10,156
  • Apr 18, 2008 9:10am Apr 18, 2008 9:10am
Just a question, did anyone play that I4B on Tuesday for GBPJPY?
It worked out ok.
200 pip risk and now it's up over 700. Not bad.....
(I missed out on that BTW... )
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  • #10,157
  • Apr 18, 2008 9:25am Apr 18, 2008 9:25am
moneybags, yea really a nice trade, but missed that as well
  • #10,158
  • Apr 18, 2008 9:41am Apr 18, 2008 9:41am
Quoting moneybags
Just a question, did anyone play that I4B on Tuesday for GBPJPY?
It worked out ok.
200 pip risk and now it's up over 700. Not bad.....
(I missed out on that BTW... )
209.20 is my last target...
  • #10,159
  • Apr 18, 2008 10:12am Apr 18, 2008 10:12am
Quoting raczekfx
209.20 is my last target...
Beautiful.
Now that's a trade.
  • #10,160
  • Edited 11:08am Apr 18, 2008 10:41am | Edited 11:08am
Quoting moneybags
Beautiful.
Now that's a trade.
... and reverse ?...
.when dj hits 12900/13k


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