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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

  • #16,961
  • Dec 16, 2008 11:04am Dec 16, 2008 11:04am
eurchf h4 pinbar on weekly ppz.
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  • #16,962
  • Dec 16, 2008 11:08am Dec 16, 2008 11:08am
Is it time...for a daily pin? I am short from 1.3811, stall and 1hr pin. If it drops nicely, I will be keeping an eye on 1.3700.
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  • #16,963
  • Dec 16, 2008 11:33am Dec 16, 2008 11:33am
Quoting HipsterPipster
Is it time...for a daily pin? I am short from 1.3811, stall and 1hr pin. If it drops nicely, I will be keeping an eye on 1.3700.
I was eyeing a short too, but I was a little nervous entering around the news time.
  • #16,964
  • Dec 16, 2008 11:34am Dec 16, 2008 11:34am
Quoting canados
I shorted it too... stopped out
:-(
Don't worry guys. I was short too.

It struggled the whole way through. Some times they do just do that though, ...So I held too.

Also lost out on GBPCHF in similar way. It even had a trendline bounce working against it. lol

If your position size is right, this shouldn't mean much to you.
Bundy's status today: "Waiting..."
  • #16,965
  • Dec 16, 2008 11:37am Dec 16, 2008 11:37am
Quoting bundyraider
Don't worry guys. I was short too.

It struggled the whole way through. Some times they do just do that though, ...So I held too.

Also lost out on GBPCHF in similar way. It even had a trendline bounce working against it. lol

If your position size is right, this shouldn't mean much to you.
Yep, its all good. Trade on!
  • #16,966
  • Dec 16, 2008 11:43am Dec 16, 2008 11:43am
Quoting bundyraider
Don't worry guys. I was short too.

It struggled the whole way through. Some times they do just do that though, ...So I held too.

Also lost out on GBPCHF in similar way. It even had a trendline bounce working against it. lol

If your position size is right, this shouldn't mean much to you.
Hey, if I am seeing the same things as you Bundy, even losing doesn't feel bad.

I didn't put much size behind it for a few reasons. So I lost very little. Just wanted to make sure I was on the right path. Great for me to hear, THANK YOU!
  • #16,967
  • Dec 16, 2008 11:48am Dec 16, 2008 11:48am
Got the break low of the 2 bar low/ib.
It wants to test that low or Boj whatever.
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  • #16,968
  • Dec 16, 2008 11:54am Dec 16, 2008 11:54am
Quoting unlv_tj
Hey, if I am seeing the same things as you Bundy, even losing doesn't feel bad.

I didn't put much size behind it for a few reasons. So I lost very little. Just wanted to make sure I was on the right path. Great for me to hear, THANK YOU!
We were at previous high (1995) ....a pretty good round number too.... and a very nice looking BEOB on the 4 hr.

Way better than my very crappy choice on GBPCHF. Looking at it now, it's a horrible BUOB. ...Puts the EURGBP trade into perspective. Which was worth the risk IMO.
Bundy's status today: "Waiting..."
  • #16,969
  • Dec 16, 2008 11:58am Dec 16, 2008 11:58am
Quoting rustyjeff
Got the break low of the 2 bar low/ib.
It wants to test that low or Boj whatever.
What's BOJ? I got in on the break somewhere at your upper redline. But now, have been stopped out LOL IBfx spread increased drasmatically like more than 30pips. Nvrmind.
  • #16,970
  • Dec 16, 2008 12:12pm Dec 16, 2008 12:12pm
Quoting arcus
What's BOJ? I got in on the break somewhere at your upper redline. But now, have been stopped out LOL IBfx spread increased drasmatically like more than 30pips. Nvrmind.

bank of japan.
Because they rely heavily on exports they are known for defending, or trying to stop their currency from getting too strong
If the jpy gets stronger then it costs more to buy jpy products so demand goes down.
Just something to keep in mind when trading the usdjpy at these levels.
Charts are still what leed the way.
  • #16,971
  • Dec 16, 2008 12:45pm Dec 16, 2008 12:45pm
Beauty. Fast +20

http://img155.imageshack.us/img155/8786/gum5as2.gif
  • #16,972
  • Dec 16, 2008 1:09pm Dec 16, 2008 1:09pm
Sorry for off topic.
Very strange thing happened with my account at Oanda. Sunday afternoon I put "limit buy" order on USD/JPY at 91.95 and Monday morning I saw, that my order was executed. I don't get it - price did not get even close on Sunday or Mondays morning. In the afternoon I called helpdesk and they told me, that on 5 min timeframe at 1:00 EST was spike that activated my order. it could be seen if I put my charts on min/max or bid/ask. How could it be, that this spike couldn't be seen on 1 hour or 3 hour charts.
  • #16,973
  • Dec 16, 2008 1:31pm Dec 16, 2008 1:31pm
Quoting initex
Sorry for off topic.
Very strange thing happened with my account at Oanda. Sunday afternoon I put "limit buy" order on USD/JPY at 91.95 and Monday morning I saw, that my order was executed. I don't get it - price did not get even close on Sunday or Mondays morning. In the afternoon I called helpdesk and they told me, that on 5 min timeframe at 1:00 EST was spike that activated my order. it could be seen if I put my charts on min/max or bid/ask. How could it be, that this spike couldn't be seen on 1 hour or 3 hour charts.
this is considered weekend trading so to speak. Go to your preferences and enable the weekend data(uncheck hide weekend data), then you can see that spike. Always put your orders in sunday to prevent from these things(gaps, premarket trading etc)

Mike
  • #16,974
  • Dec 16, 2008 2:54pm Dec 16, 2008 2:54pm
IMHO a perfect example why Jim teaches to enter when price breaks the Pin. Some of my biggest losing trades last year were when I would "anticipate" the price action. No doubt I'd be sweating this trade 1-300 pips if my lesson was not learned already. No telling where this pair will stop at if the price continues south if it breaks to the downside. My charts will not go back that far. Can anyone here enlighten me? Thanks.

KissFan
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  • #16,975
  • Dec 16, 2008 3:02pm Dec 16, 2008 3:02pm
Quoting KissFan
IMHO a perfect example why Jim teaches to enter when price breaks the Pin. Some of my biggest losing trades last year were when I would "anticipate" the price action. No doubt I'd be sweating this trade 1-300 pips if my lesson was not learned already. No telling where this pair will stop at if the price continues south if it breaks to the downside. My charts will not go back that far. Can anyone here enlighten me? Thanks.

KissFan
Here is a monthly for you Kf.
low of 79.75 back in 95.
my low is set at 80. dont know if boj will allow it but i'm sure we will see it on the charts. I'm just not going to get attatched to any positions with this pair.
Out of my earlier short at 89.
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  • #16,976
  • Dec 16, 2008 3:11pm Dec 16, 2008 3:11pm
Quoting rustyjeff
Here is a monthly for you Kf.
low of 79.75 back in 95.
my low is set at 80. dont know if boj will allow it but i'm sure we will see it on the charts. I'm just not going to get attatched to any positions with this pair.
Out of my earlier short at 89.
Thanks very much rustyjeff. Just curiosity about the lows I guess. I did take a couple of shorts at 89.69 using DIBS today for a few green pips. Market stopped me at 89.07.

KissFan
  • #16,977
  • Dec 16, 2008 4:25pm Dec 16, 2008 4:25pm
Did anyone keep there shorts from the daily pin, I closed out, wishing I had kept some running.

I bet mike is still short.
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  • #16,978
  • Dec 16, 2008 4:54pm Dec 16, 2008 4:54pm
Quoting Mr Smith
Did anyone keep there shorts from the daily pin, I closed out, wishing I had kept some running.

I bet mike is still short.

Indicators show the past. Price Action "Indicates" the future.
  • #16,979
  • Dec 16, 2008 5:19pm Dec 16, 2008 5:19pm
Quoting Mr Smith
Did anyone keep there shorts from the daily pin, I closed out, wishing I had kept some running.

I bet mike is still short.
nope closed out just above 1.22 unfortunately and then my entry at 1.25 just never looked good enough to get back in. So I missed the last 200 pts


Mike
  • #16,980
  • Dec 16, 2008 5:38pm Dec 16, 2008 5:38pm
Quoting Mr Smith
Did anyone keep there shorts from the daily pin, I closed out, wishing I had kept some running.

I bet mike is still short.
Daily chart has not given any reason to close out yet.

Would love to have kept mine running too. I entered on the 1 hr originally on an IB. Trade made awesome money for the risk, but the position size was way too big to manage by the daily chart without watching like a hawk at all hours. The rest got stopped out.

Have been opening trades in two parts. I'm going to split them up further now. Allows for multiple pre-set TPs and seperate Stop positions. That would have worked perfect in this situation.
Bundy's status today: "Waiting..."
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