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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

  • #17,101
  • Dec 17, 2008 7:38pm Dec 17, 2008 7:38pm
Quoting LasVahGoose
Here is an update on the CHF/JPY trade. Go, go, go! This pin bar business really does work, huh?
I'm in that same trade, whats your TP?
Patience + Humility + Study = Success
  • #17,102
  • Dec 17, 2008 7:59pm Dec 17, 2008 7:59pm
Quoting DutchTrader
I'm in that same trade, whats your TP?
I'm just manually trailing it. It has hit my Fib Expansion @ 161.8, so I'm going to see if it retraces and continue back up or not... I'm going to try and let it run.

I'm a noob so It's a small position size on the trade and only my 2nd Daily pin trade. I'm still learning the ropes and trying to get a feel for this style of trading.

What are your plans?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,103
  • Dec 17, 2008 8:04pm Dec 17, 2008 8:04pm
Quoting LasVahGoose
I'm just manually trailing it. It has hit my Fib Expansion @ 161.8, so I'm going to see if it retraces and continue back up or not... I'm going to try and let it run.

I'm a noob so It's a small position size on the trade and only my 2nd Daily pin trade. I'm still learning the ropes and trying to get a feel for this style of trading.

What are your plans?
Noob to PB trading as well. I saw that it hit the fib level as well and now I'm just looking to see what it does. If it starts to retrace ill book profit and look for re-ent
Patience + Humility + Study = Success
  • #17,104
  • Dec 17, 2008 8:06pm Dec 17, 2008 8:06pm
Quoting LasVahGoose
I'm just manually trailing it. It has hit my Fib Expansion @ 161.8, so I'm going to see if it retraces and continue back up or not... I'm going to try and let it run.

I'm a noob so It's a small position size on the trade and only my 2nd Daily pin trade. I'm still learning the ropes and trying to get a feel for this style of trading.

What are your plans?
Hey LVG,

I took half off at 80 and left the rest to run. If wee see through 81.5 i see little resistance before 84, i am on the lower tfs looking for possible signs of a counter attack :nerd:

Regards,
Ghous.
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I believe . . .
  • #17,105
  • Dec 17, 2008 8:13pm Dec 17, 2008 8:13pm
Quoting ghous
Hey LVG,

I took half off at 80 and left the rest to run. If wee see through 81.5 i see little resistance before 84, i am on the lower tfs looking for possible signs of a counter attack :nerd:

Regards,
Ghous.
A similiar setup appeared on the NZd/Jpy where the price broke through the resistance line and retraced giving off a Pb (well sort off) it was the IB after that, that i took. My first TP is around the magenta level (52.5)
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I believe . . .
  • #17,106
  • Dec 17, 2008 8:28pm Dec 17, 2008 8:28pm
Quoting ghous
Hey LVG,

I took half off at 80 and left the rest to run. If wee see through 81.5 i see little resistance before 84, i am on the lower tfs looking for possible signs of a counter attack :nerd:

Regards,
Ghous.
I was wondering if you were in this trade or not... If you spot some trouble, feel free to share.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #17,107
  • Dec 17, 2008 8:53pm Dec 17, 2008 8:53pm
I'm still in the CHF/JPY, didn't think it was ever going to take off and awoke to a nice 100 pip gain. I'm with ghous, checking the M5 and M15 to see if we start heading lower. But keep giving more confidence to go live as this is my 4th month of demo trading successfully. I'm trying to finish reading up on some books before doing so, about through with Reminiscences of a stock operator and want to finish trading in the zone before the new year and going live.
  • #17,108
  • Dec 17, 2008 9:30pm Dec 17, 2008 9:30pm
Quoting Icehocey77
I'm still in the CHF/JPY, didn't think it was ever going to take off and awoke to a nice 100 pip gain. I'm with ghous, checking the M5 and M15 to see if we start heading lower. But keep giving more confidence to go live as this is my 4th month of demo trading successfully. I'm trying to finish reading up on some books before doing so, about through with Reminiscences of a stock operator and want to finish trading in the zone before the new year and going live.
By watching the lower tfs i meant the 1H and the 4H, i never go down to anything under the 1H, simply because i don't think i'll be closing a 400 pip trade if i see a pin bar on the 5M or 15M tf if i see one on the 4H it might signal something...
I believe . . .
  • #17,109
  • Dec 17, 2008 9:39pm Dec 17, 2008 9:39pm
Quoting ghous
By watching the lower tfs i meant the 1H and the 4H, i never go down to anything under the 1H, simply because i don't think i'll be closing a 400 pip trade if i see a pin bar on the 5M or 15M tf if i see one on the 4H it might signal something...
Right, I guess I'm reffering to the small intricacies as to how well it does against Fibs and daily S/R's. I won't be entering/exiting based on those charts, however.
  • #17,110
  • Dec 17, 2008 9:39pm Dec 17, 2008 9:39pm
Quoting rustyjeff
nice little trade i'm in on the break low of the bearish daily ib @ some weekly resistance.
1/2 off & stop to be @ the first support area. those bar highs on the 4hr.
this may turn into a nice trade if it doesn't come back on me.
Nice cute little trade was it Jeff?

One can never be sure what's round the corner, it's killing support and resistance like...like...like flies...SWAT!!!
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I believe . . .
  • #17,111
  • Dec 17, 2008 9:51pm Dec 17, 2008 9:51pm
Still trying to figure out when ppl like Raczek will ride through a break of the range, such as he did on the Eu trade. Man that trade will remain in me forever

Does this qualify Rac? your type of entry i mean...it was a retest of the trendline that earlier was broken, there was a nice SO pin bar on the 1H too...
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I believe . . .
  • #17,112
  • Edited 11:29pm Dec 17, 2008 11:10pm | Edited 11:29pm
Quoting ghous
Nice cute little trade was it Jeff?

One can never be sure what's round the corner, it's killing support and resistance like...like...like flies...SWAT!!!
You bet it exited ghous. What does it tell about the strength or momentum of the move down?
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Indicators show the past. Price Action "Indicates" the future.
  • #17,113
  • Dec 17, 2008 11:16pm Dec 17, 2008 11:16pm
Check out the Gbp/Usd on the Monthly a few months ago. It cut through Monthly PPZs like they were butter. And they did exist and they were strong.

Cutting through Weekly and Monthly PPZs is a good indication on the where Price is heading.

Little did we know it was a 4800+ pip move.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #17,114
  • Dec 17, 2008 11:44pm Dec 17, 2008 11:44pm
Quoting jarroo
You bet it exited ghous. What does it tell about the strength or momentum of the move down?
Right you are Jarroo...
I believe . . .
  • #17,115
  • Dec 17, 2008 11:59pm Dec 17, 2008 11:59pm
we have a pin in the EURUSD H4 but I would not enter short even with a pin bar. What do you think ?
  • #17,116
  • Dec 18, 2008 12:09am Dec 18, 2008 12:09am
Quoting jarroo
Thanks Bundy (as always).

Forgot who took the short break of a I4B (different platform) at that level. looking good.
(edit: Getsmart took that trade, I wonder how's he doing with it)


trujill: Most of what James16 teaches (and preaches) stems from the higher time frames of the Daily and Weekly. So alot of our analysis starts there.

The 4 PB and the confluences you mentioned are very good. PB (imo)is just to small compared to the largeness of the recent down move. This past year has shown that even on the Daily time frame, PBs have failed...
Hi Jarroo,

I set it to b/e fairly early on as I was a bit nervous about it and wanted to protect my capital. So I was duly stopped out...earlier on I would have kicked myself for it but I don't these days I don't as preserving my capital is number 1. Its still a battle though sometimes, when to move the stop on a trade....I guess as it is for many,

Joe

ps. but I am still in on the break of the chyjpy pb
  • #17,117
  • Dec 18, 2008 12:12am Dec 18, 2008 12:12am
Quoting jarroo
Check out the Gbp/Usd on the Monthly a few months ago. It cut through Monthly PPZs like they were butter. And they did exist and they were strong.

Cutting through Weekly and Monthly PPZs is a good indication on the where Price is heading.

Little did we know it was a 4800+ pip move.
4800 Pip mouth watering!

Pretty boring at times waiting for new setups
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #17,118
  • Dec 18, 2008 12:17am Dec 18, 2008 12:17am
Quoting GetSmart
Hi Jarroo,

I set it to b/e fairly early on as I was a bit nervous about it and wanted to protect my capital. So I was duly stopped out...earlier on I would have kicked myself for it but I don't these days I don't as preserving my capital is number 1. Its still a battle though sometimes, when to move the stop on a trade....I guess as it is for many,

Joe

ps. but I am still in on the break of the chyjpy pb
Very understandable Joe.

Have you tried the "free trade" approach? This is where you take half off once Price moves the amount you are risking. And then let the other half go. If it stops you out your net is zero pips.
Indicators show the past. Price Action "Indicates" the future.
  • #17,119
  • Dec 18, 2008 12:19am Dec 18, 2008 12:19am
Quoting emda
we have a pin in the EURUSD H4 but I would not enter short even with a pin bar. What do you think ?
Not a PB in my chart. Even if your feed gives a PB:

1) PB will have short nose, on other words the PB would look in bad shape
2) Against the Trend, eventhough it can be defined as swing high
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #17,120
  • Dec 18, 2008 12:23am Dec 18, 2008 12:23am
Quoting emda
we have a pin in the EURUSD H4 but I would not enter short even with a pin bar. What do you think ?

i dont think it qualifies as a pin emda, the opposite pin that happened an hour ago is stronger, but both have small noses ( im talking about the H1)
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