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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

  • #2,541
  • Feb 7, 2007 9:02am Feb 7, 2007 9:02am
Quoting billser
Fixed and sorry about that......its still early and I haven't had coffee yet.......
Didn't want to come across as pushy, but if I hadn't of spotted it someone else would have, and I'm sort of soft & cuddly
Thanks for correcting it
  • #2,542
  • Feb 7, 2007 12:29pm Feb 7, 2007 12:29pm
I got in long on this one before it broke the previous day high.
It was nice to see this one bust through. I believe the MACD supported this trade, too. Very nice. Thanks for the help guys.


Quoting billser
Thanks Parlenk,

Last night I set my automatic buy at 1.2996 a few pips above the price break of the high and I went long sometime this morning...... So far so good.

Any thoughts on where the stop loss should go.......? (I'm still on a demo a/c)

By the way James great business plan regarding the 3 months positive trading on a demo, then 3 months positive trading on a mini account then 3 months positive trading on a standard.....thanks



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Life is too short to have anything but delusional notions about yourself.
  • #2,543
  • Feb 7, 2007 12:42pm Feb 7, 2007 12:42pm
Quoting billser

Any thoughts on where the stop loss should go.......? (I'm still on a demo a/c)


As with most of these bars the best stop loss is on the other side. So for this bar you would put it right under the DBLHC. Since the psych level of 1.29 is right there i would stick it under that if you are confident in this trade.

Mike

edit PS - do these markets suck or what right now. I am pretty much on the sidelines.
  • #2,544
  • Feb 7, 2007 12:59pm Feb 7, 2007 12:59pm
Quoting mbqb11
As with most of these bars the best stop loss is on the other side. So for this bar you would put it right under the DBLHC. Since the psych level of 1.29 is right there i would stick it under that if you are confident in this trade.

Mike

edit PS - do these markets suck or what right now. I am pretty much on the sidelines.
Its very interesting how prospective changes once another piece of the puzzle is added. I put on a Fib line and it appears that the PA is between the 23 & 38 Fib lines. (that's if I have drawn them correctly). So I got out of this trade with a 20 pip profit and will wait to see what happens next...

Any comments are always welcomed... thanks.
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It's All About Attitude ...
  • #2,545
  • Feb 7, 2007 2:08pm Feb 7, 2007 2:08pm
Quoting mbqb11
PS - do these markets suck or what right now. I am pretty much on the sidelines.
Amen to that. Still in the Kiwi? Seems to be doing a 2x 1D pin bar, maybe there's some life in it after all
Trust price. Know yourself.
  • #2,546
  • Feb 7, 2007 3:53pm Feb 7, 2007 3:53pm
Quoting SeekingLight
Amen to that. Still in the Kiwi? Seems to be doing a 2x 1D pin bar, maybe there's some life in it after all
ya still in it, bout the only thing im in this whole week lol BORRING

At least I am catching up on much needed sleep

Mike
  • #2,547
  • Feb 7, 2007 5:11pm Feb 7, 2007 5:11pm
Quoting mbqb11
ya still in it, bout the only thing im in this whole week lol BORRING

At least I am catching up on much needed sleep

Mike
Well good thing the Kiwi isn't sleeping.
Unemployment is down and the Pennant has gone active. Hold onto this one, it could go well above 0.7100 if we're lucky

But I'm off to bed, too. Take care!
Trust price. Know yourself.
  • #2,548
  • Feb 7, 2007 6:05pm Feb 7, 2007 6:05pm
Quoting SeekingLight
Well good thing the Kiwi isn't sleeping.
Unemployment is down and the Pennant has gone active. Hold onto this one, it could go well above 0.7100 if we're lucky

But I'm off to bed, too. Take care!
Yea hopefully

Still holding a USD/ CAD long and have a pending order in for AUD/NZD

OBR off 365 fib
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  • #2,549
  • Feb 7, 2007 8:15pm Feb 7, 2007 8:15pm
This is the weekly chart of the aud/usd. Is 37 pips long enough to be considered a pin bar...!!
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It's All About Attitude ...
  • #2,550
  • Feb 7, 2007 10:01pm Feb 7, 2007 10:01pm
did you take the break low or the retrace on the aussi/kiwi OBR

I have orders set for break of bullish outside bar on nz/jpy on daily.


thanks
westie

Quoting mbqb11
Yea hopefully

Still holding a USD/ CAD long and have a pending order in for AUD/NZD

OBR off 365 fib
  • #2,551
  • Feb 7, 2007 10:13pm Feb 7, 2007 10:13pm
Quoting billser
This is the weekly chart of the aud/usd. Is 37 pips long enough to be considered a pin bar...!!

this is more of a neutral bar, or a really small pin bar. We want a much longer nose then this. The good ones will jump out at you

Best,
Mike
  • #2,552
  • Feb 7, 2007 10:14pm Feb 7, 2007 10:14pm
Quoting Westie
did you take the break low or the retrace on the aussi/kiwi OBR

I have orders set for break of bullish outside bar on nz/jpy on daily.


thanks
westie
Took the break low, and then it went straight up LOL

but no worries that's why we have our stop for, just gonna ride it out see where it goes. I still think this was a nice short opportunity, all the EMAs, Price Pivot, Fibs.

We'll see,
Mike
  • #2,553
  • Feb 7, 2007 10:21pm Feb 7, 2007 10:21pm
Hello,

Anyone prepare to long on NZ-USD ? well the low with 3pips range,usually i take only 2 range.any opinion?
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  • #2,554
  • Feb 7, 2007 11:46pm Feb 7, 2007 11:46pm
thanks for the heads up, i got in after the retrace,

and parlenk, im long kiwi from that daily setup.

westie


Quoting mbqb11
Took the break low, and then it went straight up LOL

but no worries that's why we have our stop for, just gonna ride it out see where it goes. I still think this was a nice short opportunity, all the EMAs, Price Pivot, Fibs.

We'll see,
Mike
  • #2,555
  • Feb 8, 2007 12:54am Feb 8, 2007 12:54am
few pages back mike pointed out montly pin on aud/cad,

it's retraced quite alot, just giving heads up if we get some daily short signal up here would be cool to get in early ont he monthly pin.

westie
  • #2,556
  • Feb 8, 2007 1:35am Feb 8, 2007 1:35am
But be carefull, a pinbar valid when the price break.if not...it's not a good pinbar.cheers


Quoting Westie
few pages back mike pointed out montly pin on aud/cad,

it's retraced quite alot, just giving heads up if we get some daily short signal up here would be cool to get in early ont he monthly pin.

westie
  • #2,557
  • Feb 9, 2007 12:34am Feb 9, 2007 12:34am
Can any one give me a good example of an inside bar - IB - on a chart and where to place the trade and stop loses.

Many thanks

Bill
It's All About Attitude ...
  • #2,558
  • Feb 9, 2007 12:41am Feb 9, 2007 12:41am
http://www.trading-naked.com/insidebarNR4x.htm

Quoting billser
Can any one give me a good example of an inside bar - IB - on a chart and where to place the trade and stop loses.

Many thanks

Bill
  • #2,559
  • Feb 9, 2007 12:42am Feb 9, 2007 12:42am
Sure this is forexfactory remember ? :
http://www.trading-naked.com/insidebarNR4x.htm

Quoting billser
Can any one give me a good example of an inside bar - IB - on a chart and where to place the trade and stop loses.

Many thanks

Bill
  • #2,560
  • Feb 9, 2007 1:03am Feb 9, 2007 1:03am
here is daily ib on yen

red is stop loss, blue is entry.

If im wrong, im sure someone will correct it.

westie.
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