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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

  • #11,101
  • Edited 11:02am Jun 4, 2008 10:33am | Edited 11:02am
Dang the USDCAD pin broke by 5 pips picking me up and then shot in the opposite direction.

edit: Pretty nice pin on the EURAUD, but I don't like how against the longer-term trend it is.
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  • #11,102
  • Jun 4, 2008 11:27am Jun 4, 2008 11:27am
Quoting libertao
Dang the USDCAD pin broke by 5 pips picking me up and then shot in the opposite direction.
Yeah, I got burned on that one, too.

But it wouldn't be trading if that never happened

Tyler
skype: ststroud. let's talk trading.
  • #11,103
  • Jun 4, 2008 1:20pm Jun 4, 2008 1:20pm
Quoting libertao
Dang the USDCAD pin broke by 5 pips picking me up and then shot in the opposite direction.

edit: Pretty nice pin on the EURAUD, but I don't like how against the longer-term trend it is.
price just broke through the neckline of the h&s formation on the daily chart so i would be wary of that pinbar. it could be signaling a move back up to retest the neckline (support turned resistance) though
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  • #11,104
  • Jun 4, 2008 1:57pm Jun 4, 2008 1:57pm
If we close like this we get an IB after a BEOB on daily
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  • #11,105
  • Jun 4, 2008 5:16pm Jun 4, 2008 5:16pm
Quoting libertao
Dang the USDCAD pin broke by 5 pips picking me up and then shot in the opposite direction.

edit: Pretty nice pin on the EURAUD, but I don't like how against the longer-term trend it is.
I forgot about it. lol

I was waiting to see if it broke out of range, started doing something else, then went to bed. I should have put a sell stop on.

It wasn't the best looking pin anyway, I s'pose. Position and confluence was great, but probably a good example of a pin forming at resistance/support just because there is opposition. A longer nose would have meant a strong reversal in short term sentiment and given us a a better chance.

Still a trade I would take.
Though I was intending to use my lowest trade size on it. Those weaker pins work a lot too when they are positioned well. (but only on a break!)
Bundy's status today: "Waiting..."
  • #11,106
  • Jun 5, 2008 12:50am Jun 5, 2008 12:50am
This is my first chart that i post here.

Wish that can help the thread . . .

I think that Eur/Usd could bounce on this line today, the market bought the dollar in the Tokyo session, so i think that there are most chance that the Eur/Usd bounce on this line.
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Simple Things are the best
  • #11,107
  • Jun 5, 2008 6:42am Jun 5, 2008 6:42am
Quoting killer_pips8
This is my first chart that i post here.

Wish that can help the thread . . .

I think that Eur/Usd could bounce on this line today, the market bought the dollar in the Tokyo session, so i think that there are most chance that the Eur/Usd bounce on this line.
On the other hand we've got a nice price action indicating possible break of this PPZ (BEOB + I4B).

But market can be very choppy today due to the news.
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  • #11,108
  • Jun 5, 2008 7:18am Jun 5, 2008 7:18am
Quoting libertao
Dang the USDCAD pin broke by 5 pips picking me up and then shot in the opposite direction.

edit: Pretty nice pin on the EURAUD, but I don't like how against the longer-term trend it is.

I got long on this one, look at the daily support and you will see why.
Keep taking CT trades, I need more money
  • #11,109
  • Jun 5, 2008 7:21am Jun 5, 2008 7:21am
G/U 4hr PB

Im trying to stay away from 4hr and only do daily and above, but that doesnt mean I cant look!
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All I ask for is a chance to prove that money cannot make me happy.
  • #11,110
  • Jun 5, 2008 7:22am Jun 5, 2008 7:22am
It's funny after all of these years of trading you keep seeing people fail on the same stuff over and over and they keep talking themself out of the good trades then they get mad when they miss it and take a crap trade. Do you homework so when the trade comes up you don't have to think about what to do you just take it, if you don't like to lose get out of the market because you are going to have a loss.
Keep taking CT trades, I need more money
  • #11,111
  • Jun 5, 2008 1:39pm Jun 5, 2008 1:39pm
In regards to todays euro.
This is the way i am looking at it
Yes If you look at the beob previiously it could be taken. but when you look at the surroundings it starts to look not so good.
1. its at a low or sideways mkt... its better as a reversal bar..
2. its right up on support which needs to break first. not by 5 pips but by 30-60 pips. to be convincing followed by retrace then continue down.

To disclose. I didnt take the long or short.. It was too undecided for me.
but others i know took the long this morning off the low on the euro & the pound.
I took the short on the swissy.
This is just my pespective.
Jeff
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  • #11,112
  • Jun 5, 2008 2:00pm Jun 5, 2008 2:00pm
Hi!
RustyJeff - what are your's opinion for daily USD/CHF:there was BUOVB, then was IB, which was broken today to go long. but in the afternoon ---oh, sh@t!Fell like a rock!


Unfortunately I don't know how to add pics to explain what I mean, but I think it should go up...


Please, any comments....
  • #11,113
  • Jun 5, 2008 2:31pm Jun 5, 2008 2:31pm
Quoting initex
Hi!
RustyJeff - what are your's opinion for daily USD/CHF:there was BUOVB, then was IB, which was broken today to go long. but in the afternoon ---oh, sh@t!Fell like a rock!
While my feed did not show a pb on H4, the candles are still bearish, and right at the ppz and a downward trendline; there is nothing on the Daily to signal a bullish move. It could be heading back down to the ppz around 1.0220. I did not take this one because I did not want to stretch myself too thin, but I was keeping an eye on this one.

Tyler

Here's the H4
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And the Daily:
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skype: ststroud. let's talk trading.
  • #11,114
  • Jun 5, 2008 2:50pm Jun 5, 2008 2:50pm
& now,,,,, wait for it but we mighr be going back up..
I think to at least retrace the length of bar As a retrace of the daily.
THIS IS NOT a prediction or rcomendation. Just how i see things.
& I might just be crazy
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  • #11,115
  • Jun 5, 2008 3:14pm Jun 5, 2008 3:14pm
Quoting rustyjeff
In regards to todays euro.
This is the way i am looking at it
Yes If you look at the beob previiously it could be taken. but when you look at the surroundings it starts to look not so good.
1. its at a low or sideways mkt... its better as a reversal bar..
2. its right up on support which needs to break first. not by 5 pips but by 30-60 pips. to be convincing followed by retrace then continue down.

To disclose. I didnt take the long or short.. It was too undecided for me.
but others i know took the long this morning off the low on the euro & the pound.
I took the short on the swissy.
This is just my pespective.
Jeff
.. all that hard work in the PF makes magic come true....
Didn't it look like a tipple top on swissy...?
  • #11,116
  • Jun 5, 2008 3:47pm Jun 5, 2008 3:47pm
Quoting raczekfx
.. all that hard work in the PF makes magic come true....
Didn't it look like a tipple top on swissy...?

mmmmm, let me see.
1, 2, 3, yep... it did.
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  • #11,117
  • Jun 5, 2008 4:09pm Jun 5, 2008 4:09pm
Daily cable pin just formed down near the support region of the pin a few weeks ago.
"Support and Resistance either holds or it doesn't." -Anonymous hillbilly
  • #11,118
  • Jun 5, 2008 4:17pm Jun 5, 2008 4:17pm
Quoting Thexder
Daily cable pin just formed down near the support region of the pin a few weeks ago.
Yes, but look more closely where it bounced off of.
The eye area of the previous daily pin. That has now formed an area of support. which it often does.
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  • #11,119
  • Jun 5, 2008 8:53pm Jun 5, 2008 8:53pm
Quoting rustyjeff
Yes, but look more closely where it bounced off of.
The eye area of the previous daily pin. That has now formed an area of support. which it often does.
I already short GU because it break support or PPZ around 1.9600 and thinking of taking profit around 1.9360 the next support.

But it turn out yesterday form PIN BAR, I still hold the position because I still belief 1.9600 can be a strong resistance and price can still heading down.

Which one is the best one?
1. Immediately close position after you see yesterday PB, because it is sign of false break. Or
2. Hold until it break 1.9600, then close your short.

BTW do you short GU after it break 1.9600 ? if you would like to play break out system? I see price broke GU with strong bearish bar so I short that pair.

Thanks!
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  • #11,120
  • Jun 5, 2008 11:16pm Jun 5, 2008 11:16pm
Quoting Thexder
Daily cable pin just formed down near the support region of the pin a few weeks ago.
That looks like a good PB. Pretty strong rejection from that support.
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