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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

  • #15,521
  • Nov 19, 2008 2:02pm Nov 19, 2008 2:02pm
Quoting simoncs
GBP/JPY
Right direction?
I was looking for a shorting position off weekly support around 14800 plus 50%fib on 4hr
Pin bar seems to be forming - if it keeps dropping.
then trade short with the trend
That's correct. Have a look at pb or ib on my chart, formed off drawn ppz
148.5 was my TP. In terms of short trade I was going to wait for a PA around 149.5. This may change depending what daily bar we get today...
It's not over till it's over. We may still see a run up on dow late in a session (I use it as a barometer for all my yen trades)
  • #15,522
  • Nov 19, 2008 2:26pm Nov 19, 2008 2:26pm
Looks like we might have a Pin Bar forming on the GBPUSD Daily charts, with the trend.

With the previous congestion, this is not an A trade but might be worth a few pips if it breaks.
  • #15,523
  • Nov 19, 2008 3:10pm Nov 19, 2008 3:10pm
Looks ok, on both tf's.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpydailypb.gif Size: 54 KB
Click to Enlarge Name: eurjpy4hrpb.gif Size: 57 KB
Trax Tibidax Tibidox...
  • #15,524
  • Nov 19, 2008 4:08pm Nov 19, 2008 4:08pm
Quoting unlv_tj
Looks like we might have a Pin Bar forming on the GBPUSD Daily charts, with the trend.

With the previous congestion, this is not an A trade but might be worth a few pips if it breaks.
It's a nice PB, sitting on ppz. If it breaks, it could be good for some 300ps.
.
Attached Image
  • #15,525
  • Nov 19, 2008 4:43pm Nov 19, 2008 4:43pm
Good!. Been watching grow all day while at work. I am taking it. hopefully it will be as nice as soaring with a LS-4
Please pull my head out of my ass, I am running out of oxygen...
  • #15,526
  • Nov 19, 2008 4:55pm Nov 19, 2008 4:55pm
I missed the juicy 4hr pins including the g/u pictured below... but i am planning on taking the daily pin. Not much of a swing high but with the trend and bouncing off a trendline. I think if it breaks than a very good chance to visit 1.4650ish again. Also i have noticed daily pins on g/u often give you the chance to book some profit even if the location is not prime.


Just have not decided if i will take it on the break or retrace...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: g_u 4 hr pin.gif Size: 8 KB
Click to Enlarge Name: g_u daily pin.gif Size: 8 KB
  • #15,527
  • Nov 19, 2008 7:07pm Nov 19, 2008 7:07pm
Quoting saskgui
I missed the juicy 4hr pins including the g/u pictured below... but i am planning on taking the daily pin. Not much of a swing high but with the trend and bouncing off a trendline. I think if it breaks than a very good chance to visit 1.4650ish again. Also i have noticed daily pins on g/u often give you the chance to book some profit even if the location is not prime.


Just have not decided if i will take it on the break or retrace...

Nice work saskgui.

The best play is wait for the break. A more agrressive play is look for bearish Price Action around the left eye on the 8 hour, 4 hour and even the hourly.

(Sorry I can't post charts. I had to borrow yours)
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #15,528
  • Nov 19, 2008 9:29pm Nov 19, 2008 9:29pm
dow futures are testing support for the 4th time. If it breaks....
.
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  • #15,529
  • Nov 19, 2008 10:31pm Nov 19, 2008 10:31pm
I put in trades on the daily charts for the following pairs...

GBPUSD - Pinbar with trend. Limit Short at 1.4860.
AUDUSD - BEOB with trend. Limit Short at .6315.
GBPJPY - BEOB with trend. Limit Short at 142.22.
EURCHF - Pinbar with trend at 50% retracement. Limit Short at 1.5126.

Is anyone else taking these on the daily, or are they waiting for shorter time frame set-ups?
  • #15,530
  • Nov 19, 2008 11:03pm Nov 19, 2008 11:03pm
I jumped on EUR/CHF but skipped the rest as they were not in an "A" grade location in my opinion. Thought I would start posting again.

Scott

Quoting unlv_tj
I put in trades on the daily charts for the following pairs...

GBPUSD - Pinbar with trend. Limit Short at 1.4860.
AUDUSD - BEOB with trend. Limit Short at .6315.
GBPJPY - BEOB with trend. Limit Short at 142.22.
EURCHF - Pinbar with trend at 50% retracement. Limit Short at 1.5126.

Is anyone else taking these on the daily, or are they waiting for shorter time frame set-ups?
  • #15,531
  • Nov 20, 2008 2:44am Nov 20, 2008 2:44am
Hi Guys

Took the 4h pin on GU - had a buffer so entered at 1.4980. Currently 140 pips in profit but feel it could go further so hanging on for a bit. Is this not the perennial dilemma.......ie, when to get out? Anyone else got specific targets in mind?
PA is where its at!!
  • #15,532
  • Nov 20, 2008 2:56am Nov 20, 2008 2:56am
Quoting bertie123
Hi Guys

Took the 4h pin on GU - had a buffer so entered at 1.4980. Currently 140 pips in profit but feel it could go further so hanging on for a bit. Is this not the perennial dilemma.......ie, when to get out? Anyone else got specific targets in mind?
My 1st tp at 1.4780 h4 ppz. Let see how it plays.
Go figure.. Simplicity work
  • #15,533
  • Nov 20, 2008 3:13am Nov 20, 2008 3:13am
Quoting unlv_tj
I put in trades on the daily charts for the following pairs...

GBPUSD - Pinbar with trend. Limit Short at 1.4860.
AUDUSD - BEOB with trend. Limit Short at .6315.
GBPJPY - BEOB with trend. Limit Short at 142.22.
EURCHF - Pinbar with trend at 50% retracement. Limit Short at 1.5126.

Is anyone else taking these on the daily, or are they waiting for shorter time frame set-ups?
Looking good.

Except for the Eur/Chf.
Indicators show the past. Price Action "Indicates" the future.
  • #15,534
  • Nov 20, 2008 3:23am Nov 20, 2008 3:23am
Quoting jarroo
Looking good.

Except for the Eur/Chf.
well i guess there is somehow a similarity between Eur Chf and the rest. If you look on the charts, Eur Chf has been mostly up while the rest mostly down. If you will profit on the other pairs you took, i think you will have to lose on Eur Chf.

I took the daily GU PB and the break below 6300 for Aud Usd.
Market can stay irrational longer than you can stay solvent.
  • #15,535
  • Nov 20, 2008 4:10am Nov 20, 2008 4:10am
Iam using the Interbankfx feed. It was not a PB on the 4H GU.

Yes it was PB on daily chart, but I felt it was too late for an entry!

Any suggestions on this data difference, or change of feed (broker)recommended?

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #15,536
  • Nov 20, 2008 4:46am Nov 20, 2008 4:46am

Hello fellow traders...
Any lattest graph gor EU?

Learning, is a never ending processs...
  • #15,537
  • Nov 20, 2008 5:06am Nov 20, 2008 5:06am
Quoting jarroo
Looking good.

Except for the Eur/Chf.
Thanks Jaroo. I have tightened up my stop losses, set a few into the profit zone. Maybe not the best method, but their could be upcoming resistence towards all GBPUSD, GBPJPY, and AUDUSD.

Of all four tradse the EURCHF looked the best. So I will hold on to it for the time being.
  • #15,538
  • Nov 20, 2008 5:09am Nov 20, 2008 5:09am
Hi Univ

I thought the EuChf a good set-up too, and am holding on to see what happens. The market will tell us.
PA is where its at!!
  • #15,539
  • Nov 20, 2008 5:35am Nov 20, 2008 5:35am
Quoting unlv_tj
Thanks Jaroo. I have tightened up my stop losses, set a few into the profit zone. Maybe not the best method, but their could be upcoming resistence towards all GBPUSD, GBPJPY, and AUDUSD.

Of all four tradse the EURCHF looked the best. So I will hold on to it for the time being.
Nice job unlv. Don't forget to take some off the table when they near thoses S/R levels and let the rest ride.
Indicators show the past. Price Action "Indicates" the future.
  • #15,540
  • Nov 20, 2008 6:19am Nov 20, 2008 6:19am
Hey guys, Nice to see you making pips all around,

I am in 3 daily trade too, took the Gu pin, the Eur/chf pin and the Nzd/usd BEOB. Of the three the eur/chf looks a pain in the butt! lol! it's sitting at -150 pips for me but i prefer to hang on till we see the north end of the tail break, the setup looks good and will want to trust it further

Anyhow i was already prepared for anything like this earlier, the shorter tf ranging and choppiness was in my mind as i jumped into these trades, i knew i have to be braver than normal (more sensible ofcaorse).

Regards,
Ghous.
I believe . . .
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