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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

  • #17,321
  • Dec 20, 2008 11:43am Dec 20, 2008 11:43am
why 10... it's your choice, u can use 0,1 lot or 1 lot .if you want, and have +1-2% of your account with 30 pips, or you can use 0,3 lot or 3 lots and Tp 10-15 to have+1-2%
you have to explore your style. i use 10-20 usually because it's safer for me and faster...
But you know, it's all about person and his style

Quoting stoli7188
Caught that pin too. There were a few CT trades that had support divergence. Didn't trade these but I took note. Once again this is still in demo phase for me. Curious though Jank, that pin was over 20pips in size, why a stop/TP of only 10? Just wondering. Have a good weekend everybody.

Here's what I saw today.
  • #17,322
  • Dec 21, 2008 12:39am Dec 21, 2008 12:39am
Quoting Flem26
congrats to those who collected pips this week. i look at the euro and swiss pb's and just want to cry. i can't believe i passed on these plus the pin on the loonie last week at the swing high.

what did i do last monday? i took a half-a** 4 hour pinbar on the swissy last monday and got stopped out for a loss. i've been waiting for a pinbar like the one on the daily usd/chf for weeks and see it and don't take it. arrggghhhh

At first i thought you missed the entire action, but reading your post carefully reveals that you did actually see the Pb but did not take it? There has to be a reason for this, did you find some sort of reasoning against the trade?
I believe . . .
  • #17,323
  • Dec 21, 2008 6:03am Dec 21, 2008 6:03am
Quoting diallist
you certainly are blessing us all here with what you are teaching us.

Thank you Jim
Many THANKS to Jim and everyone here!

What a gold mine it is day after day!

Best of trading,
Brent

  • #17,324
  • Dec 21, 2008 6:10am Dec 21, 2008 6:10am
Quoting FXSurfer
Many THANKS to Jim and everyone here!

What a gold mine it is day after day!

Best of trading,
Brent

You've just opened the door, dare to walk into the room, some life changing ideas and ppl in here!

Welcome Aboard...

Regards,
Ghous.
I believe . . .
  • #17,325
  • Dec 21, 2008 9:02am Dec 21, 2008 9:02am
Quoting Jankone
why 10... it's your choice, u can use 0,1 lot or 1 lot .if you want, and have +1-2% of your account with 30 pips, or you can use 0,3 lot or 3 lots and Tp 10-15 to have+1-2%
you have to explore your style. i use 10-20 usually because it's safer for me and faster...
But you know, it's all about person and his style
Ciao, Jan!

I think Stoli's question was not about the number of pips, but the logic behind SL. I.e. with PBs one would typically place SL above PB (or at some Fibo RT of the PB's length). Just "x pips" does not fit anywhere, but surely if it fits your style AND it works for you, then the decision is yours indeed.
One Chart is Worth Ten Thousand Words.
  • #17,326
  • Dec 21, 2008 9:19am Dec 21, 2008 9:19am
J16, THANKS A LOT for setting up this thread and keeping it going! Special thanks to the J16 gang for your great contributions to this thread.

You are one of the main reasons many novice FX traders are not broke this year - and that some are even drinking Dom Perignon despite the global crisis ! Thank you for being there, sharing your knowledge and experience, and providing a "better" FX path for all of us.

I wish you all Merry Christmas and a very prosperous New Year! Happy trading in 2009!
One Chart is Worth Ten Thousand Words.
  • #17,327
  • Dec 21, 2008 9:41am Dec 21, 2008 9:41am
it's something you have to train.
Yes, i use SL below / above high /low of the pinbar, but sometimes it's fast, my SL is maybe for 50-60% of bar size. If it's good trade, it goes right way in a few seconds / minutes. Best trades usually go directly to +++ and hit tp very fast.
it's really hard to explain...
some things like "if next bar close, after my pinbar, and close is same as open price , I close that trade, if I can't see the power." really hard to describe.
I have really work hard yet to master this.
:-)

Quoting Forex007
Ciao, Jan!

I think Stoli's question was not about the number of pips, but the logic behind SL. I.e. with PBs one would typically place SL above PB (or at some Fibo RT of the PB's length). Just "x pips" does not fit anywhere, but surely if it fits your style AND it works for you, then the decision is yours indeed.
  • #17,328
  • Dec 21, 2008 10:25am Dec 21, 2008 10:25am
Quoting Jankone
it's something you have to train.
Yes, i use SL below / above high /low of the pinbar, but sometimes it's fast, my SL is maybe for 50-60% of bar size. If it's good trade, it goes right way in a few seconds / minutes. Best trades usually go directly to +++ and hit tp very fast.
it's really hard to explain...
some things like "if next bar close, after my pinbar, and close is same as open price , I close that trade, if I can't see the power." really hard to describe.
I have really work hard yet to master this.
:-)
There is nothing worng in being a discretionary trader Jankone, I am a discretionary trader myself and feel this is what fits me.

You're doing great with the 5Min stuff, most importantly you help encourage all of Ryan's strategy followers to not get dishearted at his sudden disappearence from the thread but instead carry his work forward in a way that would make him proud.

Wish you all the best! keep it up

Regards,
Ghous.
I believe . . .
  • #17,329
  • Dec 21, 2008 10:30am Dec 21, 2008 10:30am
What do you think of these weekly pin bars ?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: goldw1.gif Size: 12 KB
  • #17,330
  • Dec 21, 2008 10:46am Dec 21, 2008 10:46am
Quoting boomswitch
What do you think of these weekly pin bars ?

they looking very promising only the liquidity will probably be a issue..i think it will be very quite b4 christmas
  • #17,331
  • Dec 21, 2008 10:53am Dec 21, 2008 10:53am
Quoting boomswitch
What do you think of these weekly pin bars ?
The gold Pb is what interests me, could be a pointer at further dollar bulls...

However, it's still just a thought and a possibility the grey ppz zone on the daily is worth considering...
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 12 KB
I believe . . .
  • #17,332
  • Dec 21, 2008 11:08am Dec 21, 2008 11:08am
Interesting GBP pb will definitely bear watching.
Patience + Humility + Study = Success
  • #17,333
  • Dec 21, 2008 11:47am Dec 21, 2008 11:47am
I was just abt done for the year, but the winter break from school and the end of school exams have given space to a lot of extra time, i guess i'll have to be around, since Xmas is'nt part of my religious events I have nothing to do

So what i am currently looking at is the Uj,

for quite some it's been showing a bullish mood without actually restraining the bears. We saw a lovely pin bar earlier that failed, but all is'nt lost it's a good idea to keep a close watch at the divergence on the daily which still holds valid,

thursday even closed with the DBLHC, and watch how the friday candle took shape, may just be the lack of bearish momentum beginning to show up.

The question remains how this can be played...a break of the DBLHC, with the first tp around the 92...
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 10 KB
I believe . . .
  • #17,334
  • Dec 21, 2008 11:53am Dec 21, 2008 11:53am
Quoting ghous
I was just abt done for the year, but the winter break from school and the end of school exams have given space to a lot of extra time, i guess i'll have to be around, since Xmas is'nt part of my religious events I have nothing to do

So what i am currently looking at is the Uj,

for weeks it's been showing a bullish mood without actually restraining the bears. We saw a lovely pin bar earlier that failed, but all is'nt lost it's a good idea to keep a close watch at the divergence on the daily which still holds valid,

thursday even closed...
Or a break of the 1H triangle to the upside could do the job? the 4H also shows an inverted head and shoulders...the odds are slowloy tilting to one side...
Attached Image (click to enlarge)
Click to Enlarge Name: uj 4h.gif Size: 11 KB
I believe . . .
  • #17,335
  • Dec 21, 2008 11:57am Dec 21, 2008 11:57am
Ghous,

Check out the yen index chart as well.
Patience + Humility + Study = Success
  • #17,336
  • Dec 21, 2008 12:07pm Dec 21, 2008 12:07pm
Quoting DutchTrader
Ghous,

Check out the yen index chart as well.
My broker says "soon" there will be upto 200 different markets to trade, including options and futures and indices and what not, the answer to the question "when?" is still "soon"

Could you post up a chart if possible?
I believe . . .
  • #17,337
  • Dec 21, 2008 12:08pm Dec 21, 2008 12:08pm
Quoting DutchTrader
Interesting GBP pb will definitely bear watching.
No pun intended, hehe.
  • #17,338
  • Dec 21, 2008 12:13pm Dec 21, 2008 12:13pm
Quoting HipsterPipster
No pun intended, hehe.
hehe I was trying to be punny.

here's a Yen index chart:

http://www.forexfactory.com/attachme...2&d=1229800123
Patience + Humility + Study = Success
  • #17,339
  • Dec 21, 2008 12:18pm Dec 21, 2008 12:18pm
Quoting DutchTrader
hehe I was trying to be punny.

here's a Yen index chart:

http://www.forexfactory.com/attachme...2&d=1229800123
Thanks buddy
I believe . . .
  • #17,340
  • Dec 21, 2008 12:28pm Dec 21, 2008 12:28pm
Good anticipation ghous, actually, am long on UJ from 1hr, have closed profit at 50pips on 1lot and move the second lot to b/e, as the mkt closed 89.35, alpari data with double bottom.

I got in, in anticipation of crown fromation on 1hr and this guy might rally till 95.............................
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