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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

  • #2,561
  • Feb 9, 2007 1:14am Feb 9, 2007 1:14am
Well it a very good up signal u had westie.it's also a pinbar.


Quoting Westie
here is daily ib on yen

red is stop loss, blue is entry.

If im wrong, im sure someone will correct it.

westie.
  • #2,562
  • Feb 9, 2007 1:15am Feb 9, 2007 1:15am
Quoting parlenk
Well it a very good up signal u had westie.it's also a pinbar.
doesnt qualify as a pin bar when its inside like that be careful, but yes that is a perfect beauty of an inside bar westie!, thats what we need to see now!
  • #2,563
  • Feb 9, 2007 1:19am Feb 9, 2007 1:19am
yes indeed I show 3 inside bars
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  • #2,564
  • Edited 1:49am Feb 9, 2007 1:38am | Edited 1:49am
well here was a nice quick suprise i just caught ...small pin turned out nice on gbp/jpy watching lower time frames to lock some profit now after this sharp move

Mike

looks like daily pin bar might break so i may hold this

this thing dropping like a rock talk about a good R:R on that pin lol.. Looking for the 200 on the 4hr
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  • #2,565
  • Feb 9, 2007 1:49am Feb 9, 2007 1:49am
Hi folks, here is the gbp.it's brake the trend line.I draw a head and shoulder pattern.been waiting for this brake couple days ago.we are going to see 9300ish ? any opinion? mike.. give me some enlightment here.
thx
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  • #2,566
  • Feb 9, 2007 1:54am Feb 9, 2007 1:54am
Quoting parlenk
Hi folks, here is the gbp.it's brake the trend line.I draw a head and shoulder pattern.been waiting for this brake couple days ago.we are going to see 9300ish ? any opinion? mike.. give me some enlightment here.
thx

I have been short pound since 9620 so breaking that trendline was big. 1hr pin on gbpy/jpy got me in that. If the 430 news comes out bad this thing might really go down nothing to stop it really
  • #2,567
  • Feb 9, 2007 2:03am Feb 9, 2007 2:03am
OK now let's pray together.i miss that bp-jy.it moving like a wild dog chase behind it.thx mike

Quoting mbqb11
I have been short pound since 9620 so breaking that trendline was big. 1hr pin on gbpy/jpy got me in that. If the 430 news comes out bad this thing might really go down nothing to stop it really
  • #2,568
  • Feb 9, 2007 2:06am Feb 9, 2007 2:06am
mike did you get stopped out of aud/kiwi short,
i noticed this bullish outside bar on weekly now.
I was thinking of taking this weekly setup.

westie
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  • #2,569
  • Feb 9, 2007 2:06am Feb 9, 2007 2:06am
Quoting Westie
mike did you get stopped out of aud/kiwi short,
i noticed this bullish outside bar on weekly now.
I was thinking of taking this weekly setup.

westie
nope stop still there, on weekly would like to see close be higher then previous bar high for an OB

Mike
  • #2,570
  • Feb 9, 2007 2:29am Feb 9, 2007 2:29am
ok thanks, that's some good info on the OB for weekly.
do you also use that rule for daily OB?

westie

Quoting mbqb11
nope stop still there, on weekly would like to see close be higher then previous bar high for an OB

Mike
  • #2,571
  • Feb 9, 2007 2:36am Feb 9, 2007 2:36am
Quoting Westie
ok thanks, that's some good info on the OB for weekly.
do you also use that rule for daily OB?

westie
yep always.

I still like this AUD/NZD trade even tho it went bad from the start. I would have taken it everytime but we're still alive.


Best,
Mike
  • #2,572
  • Feb 9, 2007 3:11am Feb 9, 2007 3:11am
Quoting mbqb11
well here was a nice quick suprise i just caught ...small pin turned out nice on gbp/jpy watching lower time frames to lock some profit now after this sharp move

Mike

looks like daily pin bar might break so i may hold this

this thing dropping like a rock talk about a good R:R on that pin lol.. Looking for the 200 on the 4hr
Hey Mike,
congrats on the catch! What a nice one that was
I bet it was to make up for waiting and being .... VIGILANT...all week
Maybe you should hook up with Trichet, kindred spirits and all

If the daily goes properly GJ should see 235.80 for a normal projection, 234.60 for a bigger one....don't you think it's time to close it at > 1:50 r/r at some point? You're getting everyone jealous!
So far the pins low held (like I keep saying, pins break, move out a bit, then come back one last time to the pins close/low/high).

Take care,

SeekingLight
Trust price. Know yourself.
  • #2,573
  • Edited 3:46am Feb 9, 2007 3:15am | Edited 3:46am
Quoting SeekingLight
Hey Mike,
congrats on the catch! What a nice one that was
I bet it was to make up for waiting and being .... VIGILANT...all week
Maybe you should hook up with Trichet, kindred spirits and all

If the daily goes properly GJ should see 235.80 for a normal projection, 234.60 for a bigger one....don't you think it's time to close it at > 1:50 r/r at some point? You're getting everyone jealous!
So far the pins low held (like I keep saying, pins break, move out a bit, then come back one last time to the pins close/low/high).

Take care,

SeekingLight


HAHA yeah seeking I closed this trade looooong ago, considering it was a 1hr trade with a huge move like that. Closed it around the time gbp stalled and all. Nice R:R

I may have normally held longer but with this G7 hoopala I'll cover lol

Mike


whats a post without a chart. Just a few lines for everyone on the gbp
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  • #2,574
  • Feb 9, 2007 4:33am Feb 9, 2007 4:33am
Ok so since my last post didn't have a chart here's one chart with two setups, hows that?

Possible USDCHF long trades on 1h. The .618 I refer to is the one from the low of the 2x1h PB to the last high made before the retrace down.

Also once again, the retrace entry of the DBLHC coincided with the prior 2x1h PB high.
This happens over and over and over...

The bus leaves, the folks on board realize they forgot grandma, go back one last time to pick her up, then drive off
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Trust price. Know yourself.
  • #2,575
  • Feb 9, 2007 8:03am Feb 9, 2007 8:03am
daily just dumped hard monthly inside bar could be HuGH
  • #2,576
  • Feb 9, 2007 10:49am Feb 9, 2007 10:49am
Yellow text should read "If this PB was long enough then is red line a good enter"

Thanks
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It's All About Attitude ...
  • #2,577
  • Edited 11:18am Feb 9, 2007 11:05am | Edited 11:18am
Billser, I think the red line is a good spot to enter, how much the nose should protrude compared to the previous bar depends on personal taste and the location of the PIN. However in this case the PIN looks more like a neutral bar to me, I like it when open and close are not too far away from each other (like it is in your example) and in the lower third of the whole bar.
  • #2,578
  • Feb 9, 2007 11:15am Feb 9, 2007 11:15am
Quoting islandtrader
Billser, I think the red line is a good spot to enter, how much the nose should protrude compared to the previous bar depends on personal taste and the location of the PIN. However in this case the PIN looks more like a neutral bar to me, I like it when open and close are not to far away from each other (like it is in your example) and in the lower third of the whole bar.
Thank you IslandTrader...every bit of advice helps
It's All About Attitude ...
  • #2,579
  • Feb 10, 2007 1:57am Feb 10, 2007 1:57am
Here could be the break the swissy needs. Will play this one
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  • #2,580
  • Feb 10, 2007 4:15am Feb 10, 2007 4:15am
Hi Mike,

Thanks for the analysis on the weekly. Here is my daily on USD/CHF. Please correct me if I am wrong.

1. We have two fibo's @ 1.2560 area, and that may become a very strong resistance;
2. Uptrend line is broken; long term downtrend line is intact;
3. A break below 1.2375 will be the good short signal;
4. Will it keep going upwards? I dunno
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