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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

  • #2,801
  • Feb 26, 2007 10:24pm Feb 26, 2007 10:24pm
Quoting mbqb11
I cant see what your chart looks like, but on the interbank FX feed we are showing a neutral bar.

Best,
Mike

im using FXDD feed ...we'll see what happens bar not closed yet
  • #2,802
  • Feb 26, 2007 11:46pm Feb 26, 2007 11:46pm
just powered up out of a nice daily inside bar at a 61.8 retrace area
dang how'd I miss that one?
  • #2,803
  • Feb 27, 2007 1:40am Feb 27, 2007 1:40am
Speaking of how on earth did I miss this / not take this....

USDJPY 2x1D PB

Preceded all the crosses' drop, too.....argh. So many pips missed :S
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Trust price. Know yourself.
  • #2,804
  • Feb 27, 2007 3:23am Feb 27, 2007 3:23am
Here is a breakout trade on 4hr eur/jpy. Entered at 158.50. It has broken the uptrend line. Price actions show a TBL and an IB. In addition, it looks very much like a head and shoulder formation. Exited at 157.99 as that's the fibo confluence, as well as the previous resistance turned support line.

Ken
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  • #2,805
  • Feb 27, 2007 12:25pm Feb 27, 2007 12:25pm
Just one sweet piece of info the "base 150"would have paid for many months of this forum on the usd/chf hourly and 4hour chart with this drop

check it out pf members Sweet Sweet Trade 1K made easy
  • #2,806
  • Feb 27, 2007 2:26pm Feb 27, 2007 2:26pm
4hour BEOB. is it at pivot or confuence area too?
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  • #2,807
  • Feb 27, 2007 5:02pm Feb 27, 2007 5:02pm
The pin is about 80 pips long and 53 minutes left before the next 4H bar......

When would you consider entering the trade?
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It's All About Attitude ...
  • #2,808
  • Feb 27, 2007 5:31pm Feb 27, 2007 5:31pm
on a retrace or on the break of the pin...............


rsq955
  • #2,809
  • Feb 27, 2007 5:41pm Feb 27, 2007 5:41pm
Quoting rsq955
on a retrace or on the break of the pin...............


rsq955
When you say on a retrace do you mean that.....the Price will go down to say the 50% fib line of the last bar then move back up...potentially....then you enter the trade
It's All About Attitude ...
  • #2,810
  • Feb 27, 2007 5:46pm Feb 27, 2007 5:46pm
Quoting billser
When you say on a retrace do you mean that.....the Price will go down to say the 50% fib line of the last bar then move back up...potentially....then you enter the trade
Billser,

I see you entered on the close on your broker of the pin. This is the most risky(just so happens the close is very near the break of the bar. The most aggressive is buying on the close. The next most aggressive is playing a retrace. And the most conservative play is to wait for a break of the pin.

http://forexfactory.com/showpost.php...postcount=2193 a post I made awhile ago, may help, may not

Best of luck,
Mike
  • #2,811
  • Feb 27, 2007 5:54pm Feb 27, 2007 5:54pm
yes, you would then also have a smaller SL..............but you could miss the trade. It is all how aggresive you want to be. If you like price action, then I would suggest thinking about trying out the James16 group PF. you will learn tons more.

Take care,
RSQ955
  • #2,812
  • Edited 6:37pm Feb 27, 2007 5:55pm | Edited 6:37pm
Quoting mbqb11
Billser,

I see you entered on the close on your broker of the pin. This is the most risky(just so happens the close is very near the break of the bar. The most aggressive is buying on the close. The next most aggressive is playing a retrace. And the most conservative play is to wait for a break of the pin.

http://forexfactory.com/showpost.php...postcount=2193 a post I made awhile ago, may help, may not

Best of luck,
Mike
Thanks Mike...Yes it does help.....I'm down about 15 pips ( $0.05 per lot lol....down about $0.55....man I love Interbank with their smaller lot sizes....perfect for Newbies who want to learn with at least some fear fact involved)


Does anyone know how to place a trailing stop loss with MT4
It's All About Attitude ...
  • #2,813
  • Feb 27, 2007 6:55pm Feb 27, 2007 6:55pm
Right click on your order and you will see a window pop up with trailing stop options .
  • #2,814
  • Feb 28, 2007 12:31am Feb 28, 2007 12:31am
is this a pin on the daily forming possible?
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  • #2,815
  • Feb 28, 2007 12:41am Feb 28, 2007 12:41am
Quoting Jimmywa
is this a pin on the daily forming possible?
Jimmy we want pinbarsr to have very long noses that are sticking away from the price. Then we want to have small body(open -close) in relationship to this nose. Also it is much much much to early to tell, the day has only begun (we have done no moving on the pound yet)



Best,
Mike
  • #2,816
  • Feb 28, 2007 12:44am Feb 28, 2007 12:44am
i see i understand. Need to read all material through 10more x.

peac
  • #2,817
  • Feb 28, 2007 4:00am Feb 28, 2007 4:00am
Since we're talking about pins, here's one.....came from 1h, made a 4h one, moved a little bit. Could turn into a BUB on daily to complement the drop with a rise -> 2 day PB.
Would need to overcome marked s/r however.
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  • #2,818
  • Feb 28, 2007 4:45am Feb 28, 2007 4:45am
Nice trade there, i took a short on the Euro which is going well - also took a 4hr Pin on the gbp/chf which came off a trendline

Thinking of going live in the next few weeks, any recomendation from you guys on which broker to go with??

Mike
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  • #2,819
  • Feb 28, 2007 10:43am Feb 28, 2007 10:43am
Since all of our feeds are a little different, I wanted to post this question with a chart.
I caught the long on the pin for some nice profit. Now, we are settling into a TBL. I am a little fuzzy on how best to play this at this junction. From reading the posts on TBL/TBH, I would assume that I would play this as a breakout to the downside since that is the prevailing trend on this 4H chart. Thoughts?

-fxm
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  • #2,820
  • Feb 28, 2007 1:28pm Feb 28, 2007 1:28pm
Well, I decided to play the break to the short side. So far so good...

-fxm
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