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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

  • #10,421
  • Apr 30, 2008 9:18am Apr 30, 2008 9:18am
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
Love the bird! Let's see if those wings are big enough
  • #10,422
  • Apr 30, 2008 9:22am Apr 30, 2008 9:22am
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
Looks like the Eur/Gbp went down well Woolley

The support on Aud/Cad held up well at 0.9410. So no short for me.
  • #10,423
  • Apr 30, 2008 9:36am Apr 30, 2008 9:36am
Quoting jarroo
Nice jc.

Took the break at .9356. Stop loss above the 50% at .9430.
I got stopped out. Looking for a better entry.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #10,424
  • Apr 30, 2008 10:04am Apr 30, 2008 10:04am
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
Bummer Jarroo.. Looks like you would have had a nice long setup if you waited a candle. A long at the yellow line would have played out. My TLs are from the daily. The lower one is current, and the higher one is from 2 DeMarc points earlier. I think price will continue up to that top line before bouncing down again. I wonder if we'll get a short entry from the weekly pin? I'm waiting til 0.9240 before considering an entry
Attached Image (click to enlarge)
Click to Enlarge Name: aud usd 4hr.gif Size: 12 KB
  • #10,425
  • Apr 30, 2008 10:11am Apr 30, 2008 10:11am
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
EUR/CAD
Playing in a nice range on the daily. The 4 hour shows a pin. If this bar fails to break support, I think it's going to bounce back into the range. Possible long entry for me.
Attempting 2 charts this time... watch out, I'm getting dangerous now!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur cad daily.gif Size: 11 KB
Click to Enlarge Name: eur cad 4hr.gif Size: 10 KB
  • #10,426
  • Apr 30, 2008 10:22am Apr 30, 2008 10:22am
Quoting Kitara
Bummer Jarroo.. Looks like you would have had a nice long setup if you waited a candle. A long at the yellow line would have played out. My TLs are from the daily. The lower one is current, and the higher one is from 2 DeMarc points earlier. I think price will continue up to that top line before bouncing down again. I wonder if we'll get a short entry from the weekly pin? I'm waiting til 0.9240 before considering an entry
Quote
EUR/CAD
Playing in a nice range on the daily. The 4 hour shows a pin. If this bar fails to break support, I think it's going to bounce back into the range. Possible long entry for me.
Attempting 2 charts this time... watch out, I'm getting dangerous now!

Nice charts Kit.

I think the better entry on the Aud/Usd may be the break of bottom the Weekly Pin Bar. LOL
Indicators show the past. Price Action "Indicates" the future.
  • #10,427
  • Apr 30, 2008 10:28am Apr 30, 2008 10:28am
Hi kitara yep it did go down I got out after 21 pips though also baled out of my two weekly trades audcad and audusd for a total of - 31 lesson learned though, when i know see a weekly signal il definatly go to smaller time frames to get a better entry ect. done ok on cable though 4hr pin bar.
currently short on audchf pinbar on the 30min, kind of thinking the carrys will be unwinding too should bring it down.
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  • #10,428
  • Apr 30, 2008 10:35am Apr 30, 2008 10:35am
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
Quote
I think the better entry on the Aud/Usd may be the break of bottom the Weekly Pin Bar. LOL

hehe, yeah. I think that Aud/Usd needs to be shown where it's home is. I say we get out the hammer and knock it back down. I'm going to see what I can pick off it as it finds its way back down using the smaller TF charts.

Not too much else going on. Staying away from Eur/usd today. The Nzd/Usd looks like it may forming a nice Pin. It's on the radar. I'm still hoping to get a long entry on Eur/Cad
  • #10,429
  • Apr 30, 2008 10:40am Apr 30, 2008 10:40am
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
Hey Woolley,
Cable had a nice run up today. I missed out on that one.
Aud/Chf isn't a pair my broker offers, but I hope your short works out. I love the smiley faces on your charts. That makes me laugh, very cute. I need to get more creative with my charts. Or make pictures of them like JC, LOL!
  • #10,430
  • Apr 30, 2008 10:46am Apr 30, 2008 10:46am
ha ha yep they do make the chart look a bit nicer. they actualy come from an indicator on this thread its called the,,, pinI4bar indicator you can find it in the download section of this page thet just make potential pbs stand out easier as I have 20 small charts my screens.

here you go easier for me to post it..
Attached File(s)
File Type: mq4 PinI4Bbar AHA 0[1].1.mq4   9 KB | 1,286 downloads
  • #10,431
  • Apr 30, 2008 11:05am Apr 30, 2008 11:05am
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
Hey this is pretty cool Woolley. I think I need to tweak the ratios or something, it's not picking out some of my pins..but this is cool none the less. Thanks!
  • #10,432
  • Apr 30, 2008 11:41am Apr 30, 2008 11:41am
yeah tweek them about they dont work on all time frames for some reason but they still give you a heads up on some of them.

some nice pinbars starting to form on the swissy pairs will be watching at 2200gmt. heres one to keep an eye on.
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  • #10,433
  • Apr 30, 2008 12:06pm Apr 30, 2008 12:06pm
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
I don't know... it burst on through resistance and may just be coming down as a breather.. I guess it depends on where it wants to close at the end of this 4 hr. It does look like a nice bearish bar, but you have the 365 line there too, it may use that as a springboard to go back up.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp chf 4hr.gif Size: 11 KB
  • #10,434
  • Apr 30, 2008 12:43pm Apr 30, 2008 12:43pm
yep i see where youe coming from kitara your right the 4hr could well go down to the support area to gain momentum for a bigger push up. if you look at the daily theres a very nice BUOVB so I might use the pin if it forms to get a better entry.. then if it pushes through the resistance above in the form of the MAs this puppy could well fly...
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  • #10,435
  • Apr 30, 2008 1:05pm Apr 30, 2008 1:05pm
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
Yeah, it'll be interesting to see what the GBP/CHF does now.
It's time for that Aussie to come back to it's home. It did hit the top line on my last chart, but I think it's going to drop now.
I like the look and pins on nzd/usd and eur/cad 4hr charts. The 1hr on eur/cad shows it flopping around on my support line so it's gotta move one way or the other soon...going to put in orders for them and go out to dinner. By the time I get home it'll be close to my favorite time of the day! New daily candle
  • #10,436
  • Apr 30, 2008 1:14pm Apr 30, 2008 1:14pm
Quoting Kitara
Yeah, it'll be interesting to see what the GBP/CHF does now.
It's time for that Aussie to come back to it's home. It did hit the top line on my last chart, but I think it's going to drop now.
I like the look and pins on nzd/usd and eur/cad 4hr charts. The 1hr on eur/cad shows it flopping around on my support line so it's gotta move one way or the other soon...going to put in orders for them and go out to dinner. By the time I get home it'll be close to my favorite time of the day! New daily candle
hey kitara..aussie seems so gud rite now..wat do u think of entry price..i believ arnd .9440 wud be apt wid SL @.9472..wat do u think..???
  • #10,437
  • Apr 30, 2008 1:21pm Apr 30, 2008 1:21pm
Quoting jcsmesquita
I see what you mean. I still like the name though.

Like you said, one is still risking his/her potential profit. However, the way I see it, and this is my personal opinion, in a "free trade" my balance isn't going to go down if it goes against me. True, I might have lost a potential profit, but my pocket won't get any lighter.

My personal experience (which is tiny compared to most of these guys) tells me to be a bit more patient with stop loss movements to BE. I found that I was moving them too quickly and more often than not would get stopped out only to watch the position go my way.

This is still a grey area to me because I'm not sure yet what method works best for me. At the moment I am trying to take into account the TF of the trade. I.e. if it's a weekly signal I will let the move play out for longer than a H4 signal. I don't move my stop losses to BE blindly anymore... There are a few conditions which I look for before doing so...

It's a tricky one though and I can see how things would be different if I were trading a much bigger account!

Anyways just thought I'd share those thoughts.
Excellent JC.

That's what its all about in my book too.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #10,438
  • Apr 30, 2008 1:25pm Apr 30, 2008 1:25pm
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
Still too risky for me. I'm going to wait and keep watching. I didn't expect it to go as high as it did. I was thinking it was going to come close to my top line, but not pierce it. Now if you're looking at the 1hr, there looks like a nice bearish candle, but I'm not ready to jump in yet. The aussie pairs always give such nice A trade setups, that you don't usually have to wait to long to get one. I'm going to wait a bit longer and see what comes to life when sydney opens. Good luck on your trade if you enter
  • #10,439
  • Apr 30, 2008 1:27pm Apr 30, 2008 1:27pm
  •  Kitara
  • | Joined Mar 2008 | Status: This space for rent...call for info | 128 Posts
LOL, I agree with you JC and Jarroo. It's always better not to make money than to lose money. There will always be a next time, as long as you still have money in your account to play that next time.
  • #10,440
  • Apr 30, 2008 1:28pm Apr 30, 2008 1:28pm
Quoting Kitara
Still too risky for me. I'm going to wait and keep watching. I didn't expect it to go as high as it did. I was thinking it was going to come close to my top line, but not pierce it. Now if you're looking at the 1hr, there looks like a nice bearish candle, but I'm not ready to jump in yet. The aussie pairs always give such nice A trade setups, that you don't usually have to wait to long to get one. I'm going to wait a bit longer and see what comes to life when sydney opens. Good luck on your trade if you enter
nah i am waiting for d candle to form in another 30 mins...if u don;t mind asking wat exactly does ur A setup consists of PA, indis and fibs??
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