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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

  • #15,781
  • Nov 26, 2008 1:50am Nov 26, 2008 1:50am
Hallo....let me ask one think,what pairs do you look for price action?
I heard to say that 7 are those more important due to their liquidity.

EUR/USD
GBP/USD
USD/JPY
USD/CHF
USD/CAD
NZD/USD
AUD/USD

Or do you look for every price action independently on the pair?

thanks to all of you.
Patience is essential
  • #15,782
  • Nov 26, 2008 3:48am Nov 26, 2008 3:48am
Quoting jarroo
The 97.50 and 98.00 look to be an area of S/R (PPZ). But that's pretty far away. It may still go up there a test that area. It would have been better if the PB formed at that level.

So no obvious bearish Price Action on the 8 hour, daily and weekly.

We have a PB at a swing high (not a high high like Nov.4th). Its with the trend and below a round number, 97.00. Not the best conditions but worth (to me) a small position.
I was asked (a few times) how I'm managing the Usd/Jpy 4 hour PB trade from yesterday. I hope you all don't mind if I post it here.

I took half off at an obvious support level (96.23) and move the other half to break even.

I was tempted to close the 2nd half when the PBs (in yellow) presented themselves. But instead of closing the 2nd half I moved my stop lose just above the support level, 96.30 level.

The trade is with the over all trend so I'm letting it ride.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #15,783
  • Nov 26, 2008 3:56am Nov 26, 2008 3:56am
Quoting jarroo
I was asked (a few times) how I'm managing the Usd/Jpy 4 hour PB trade from yesterday. I hope you all don't mind if I post it here.

I took half off at an obvious support level (96.23) and move the other half to break even.

I was tempted to close the 2nd half when the PBs (in yellow) presented themselves. But instead of closing the 2nd half I moved my stop lose just above the support level, 96.30 level.

The trade is with the over all trend so I'm letting it ride.
good thinking buddy ...
  • #15,784
  • Nov 26, 2008 5:42am Nov 26, 2008 5:42am
Quoting jarroo
I was asked (a few times) how I'm managing the Usd/Jpy 4 hour PB trade from yesterday. I hope you all don't mind if I post it here.

I took half off at an obvious support level (96.23) and move the other half to break even.

I was tempted to close the 2nd half when the PBs (in yellow) presented themselves. But instead of closing the 2nd half I moved my stop lose just above the support level, 96.30 level.

The trade is with the over all trend so I'm letting it ride.
Halo Jaroo, can i ask what is your level of risk/reward ?

I hope you have understood my english.....

Bye.
Patience is essential
  • #15,785
  • Nov 26, 2008 6:36am Nov 26, 2008 6:36am
Quoting jarroo
I was asked (a few times) how I'm managing the Usd/Jpy 4 hour PB trade from yesterday. I hope you all don't mind if I post it here.

I took half off at an obvious support level (96.23) and move the other half to break even.

I was tempted to close the 2nd half when the PBs (in yellow) presented themselves. But instead of closing the 2nd half I moved my stop lose just above the support level, 96.30 level.

The trade is with the over all trend so I'm letting it ride.

http://www.forexfactory.com/attachme...1&d=1227692854...

How do u monitor buddy?? Every 4H u tak a look or ???

How do u justify it is DTrend??

Thx
Sonic
  • #15,786
  • Nov 26, 2008 6:39am Nov 26, 2008 6:39am
Quoting sonicdeejay
How do u monitor buddy?? Every 4H u tak a look or ???

How do u justify it is DTrend??

Thx
Sonic
Yes, every 4 hours or so I take a look.

Daily trend is down.
Indicators show the past. Price Action "Indicates" the future.
  • #15,787
  • Nov 26, 2008 7:49am Nov 26, 2008 7:49am
Hi guys,

I saw these pinbars last night on the EU and GU, but didn´t take them, thought there wasn´t too much room to the downside.
What do you think about them, are they a valid pinbar signal?

thanks for your comments,

Francisco
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  • #15,788
  • Nov 26, 2008 7:52am Nov 26, 2008 7:52am
...same charts/trades as posted real time in the pf yesterday. in some instances price moved up/down almost to a pip
.
Attached Images
  • #15,789
  • Nov 26, 2008 8:03am Nov 26, 2008 8:03am
.. and stopped right where many would expect it (in a perfect world)..
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  • #15,790
  • Nov 26, 2008 8:05am Nov 26, 2008 8:05am
Quoting jarroo
Yes, every 4 hours or so I take a look.

Daily trend is down.

understand that daily is down..
So..u only looks for the Short trade on UJ H4???
Do u have any loss trade so far?

Sonic
  • #15,791
  • Nov 26, 2008 8:53am Nov 26, 2008 8:53am
Quoting raczekfx
.. and stopped right where many would expect it (in a perfect world)..
great post Raczek, it literally seems You and Jim are the same guy! Both of you trade incredibly similiarly. May i know what MA's are you using??
I believe . . .
  • #15,792
  • Nov 26, 2008 9:19am Nov 26, 2008 9:19am
Quoting raczekfx
...same charts/trades as posted real time in the pf yesterday. in some instances price moved up/down almost to a pip
.

I was wondering what that sell line on the GPBJPY was?
  • #15,793
  • Nov 26, 2008 9:39am Nov 26, 2008 9:39am
Here is a nice pin bar on the Gu with the first possible tp already in sight :
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I believe . . .
  • #15,794
  • Nov 26, 2008 10:11am Nov 26, 2008 10:11am
Quoting jameson83
I was wondering what that sell line on the GPBJPY was?

Have a look at the respect shown to the 148.00 area..
and the divergence of rsi from the last high to the most recent high.
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  • #15,795
  • Nov 26, 2008 10:11am Nov 26, 2008 10:11am
Quoting jameson83
I was wondering what that sell line on the GPBJPY was?
That's a spot where I sold g/j. At the same time, I sold e/u and g/u. I dedicated my time to PF yesterday, hence no posting here.
  • #15,796
  • Nov 26, 2008 10:14am Nov 26, 2008 10:14am
Quoting ghous
great post Raczek, it literally seems You and Jim are the same guy! Both of you trade incredibly similiarly. May i know what MA's are you using??
lol... no, we're two different 'humans'.
MAs you see are 55 and 150. I don't use them, but keep them for a reference.
  • #15,797
  • Nov 26, 2008 10:19am Nov 26, 2008 10:19am
Heavy resistance coming soon for Eur/Chf at 1.5557. Previous resistance and Fib retracement confluence (61.2 and 50% levels). You can bet people other people are watching this level. I'll be looking for a bounce off this level on short timeframes.
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  • #15,798
  • Nov 26, 2008 10:27am Nov 26, 2008 10:27am
eu (alert areas)
.
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  • #15,799
  • Nov 26, 2008 10:30am Nov 26, 2008 10:30am
Quoting ghous
Here is a nice pin bar on the Gu with the first possible tp already in sight :
I like the location,
But as a reminder, we have a short US trading session today (1pm est close)& a day off tomorrow.
This can effect the reliability of pa, as traders have other reasons than normal for trading.
Its good to keep this in mind as we go into the holliday season. Dec & Jan tend to be less liquid times.
  • #15,800
  • Nov 26, 2008 10:33am Nov 26, 2008 10:33am
Quoting Betard
Heavy resistance coming soon for Eur/Chf at 1.5557. Previous resistance and Fib retracement confluence (61.2 and 50% levels). You can bet people other people are watching this level. ..
Yes. Personally, I'm looking at 1.5560/1.5590.
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