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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

  • #17,601
  • Dec 29, 2008 3:51pm Dec 29, 2008 3:51pm
Quoting HipsterPipster
It could, but I would be watching for a stop hunt personally, at least for daily moves.
Well, here we go.
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  • #17,602
  • Dec 29, 2008 3:54pm Dec 29, 2008 3:54pm
Sleep now
yes, this time is very slow.
But this setup was nice but it was CT and it's always a more risky.anyway, it was a good day today,look charts before this one :-)
I think, next trade, i will think more about time.it's really slow.
Quoting fxprocessor
Hi Jankone


I see you trading 5 minute charts during holiday season and at this slow period of the day (your chart shows 20:55).

Do you trust the price action setups on 5m tf at this time?


cheers

fxp
  • #17,603
  • Dec 29, 2008 4:00pm Dec 29, 2008 4:00pm
Quoting Jankone
Sleep now
yes, this time is very slow.
But this setup was nice but it was CT and it's always a more risky.anyway, it was a good day today,look charts before this one :-)
I think, next trade, i will think more about time.it's really slow.
Well done on the other trades.
  • #17,604
  • Dec 29, 2008 4:53pm Dec 29, 2008 4:53pm
Quoting HipsterPipster
Well, here we go.

I like todays move. no hesitations, just solid moves down all day.
In this holliday session i'm looking at this as the leading indicator for the coming month.
I'll be happy to see an ib after today with further wind up for the rest of the week then next week/year BOOM.
In case i'm wrong i'm still playing a pure break of todays bar looking to add on the way down or retraces.

I dont know why, but i have a feeling the us dollar will get a lot stronger in the new year.
  • #17,605
  • Dec 29, 2008 4:54pm Dec 29, 2008 4:54pm
Hm...all the thin-vol holiday move was taken back...
Closed my EU long @ near +150 pips..

*something interesting here is currencies(EUR or GBP) against USD solid dropped big time yet, DJ managed to close with just -31 pt...

Sonic
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  • #17,606
  • Dec 29, 2008 5:04pm Dec 29, 2008 5:04pm
Quoting rustyjeff
I like todays move. no hesitations, just solid moves down all day.
In this holliday session i'm looking at this as the leading indicator for the coming month.
I'll be happy to see an ib after today with further wind up for the rest of the week then next week/year BOOM.
In case i'm wrong i'm still playing a pure break of todays bar looking to add on the way down or retraces.

I dont know why, but i have a feeling the us dollar will get a lot stronger in the new year.
I see it going down, but I am hesitant on taking this one as is. I may wait for a little fib fun or what not.
  • #17,607
  • Dec 29, 2008 5:19pm Dec 29, 2008 5:19pm
Quoting HipsterPipster
I see it going down, but I am hesitant on taking this one as is. I may wait for a little fib fun or what not.
Exactly.

I'm splitting the position as I see it going down but think it wont happen right away. Retrace to 1.4130-1.4170 would be nice..
I'll be waiting..
  • #17,608
  • Dec 29, 2008 5:36pm Dec 29, 2008 5:36pm
As i said, waiting,waiting



Still holding the eurochf short.
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  • #17,609
  • Edited 6:34pm Dec 29, 2008 6:06pm | Edited 6:34pm
If the Euro gets up to 1.4080, I'll enter short with a half position. The SL will be huge, but the profit potential will be much higher.
Most of the Fundie experts are expecting a rough 2009 for the Euro, and the charts are starting to support it. Nice lower high and pin bar. If it continues up, look for the most reliable trade (the triple top).

Edit: Took a short position at 1.4080. Will look to enter another 1/2 position when/if I can nail down a smaller SL.
  • #17,610
  • Dec 29, 2008 7:01pm Dec 29, 2008 7:01pm
Quoting rustyjeff
As i said, waiting,waiting



Still holding the eurochf short.
Yeah boss. Nice, still holding ec myself, as well as eu of course. Looking to add to eu soon.
  • #17,611
  • Dec 29, 2008 7:30pm Dec 29, 2008 7:30pm
Quoting rustyjeff


Still holding the eurochf short.
My final tp was hit, so I'm flat for the moment. If it wasn't for the the 'slow season', I'd probably reversed at that tp. Now it's a waiting game, but I tend to think we're going up to old tp1 from here..
.. also looking at g/chf
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  • #17,612
  • Dec 29, 2008 7:37pm Dec 29, 2008 7:37pm
Quoting raczekfx
My final tp was hit, so I'm flat for the moment. If it wasn't for the the 'slow season', I'd probably reversed at that tp. Now it's a waiting game, but I tend to think we're going up to old tp1 from here..
.. also looking at g/chf
With the exception of the gbp/chf comment, I was about to post an almost identical post in response to Hips. LOL

Out with limit at 1.4810. Has been a nice easy trade to manage over the holiday. Text book.
Bundy's status today: "Waiting..."
  • #17,613
  • Dec 29, 2008 7:51pm Dec 29, 2008 7:51pm
Quoting bundyraider
With the exception of the gbp/chf comment, I was about to post an almost identical post in response to Hips. LOL

Out with limit at 1.4810. Has been a nice easy trade to manage over the holiday. Text book.
LOL.. if all of them were that easy to manage, trading would be much simpler.. I'm 'envy' of my trading buddy, he was in the same trade (with almost identical entry/tps - what the skype is for..lol), but he trades much, much 'heavier' at $30/ps.
One day.... one day.... we'll get there.

I'm still waiting for xxx/jpy...., c'mon boj, we know you have your fingers on the button... just press it..
  • #17,614
  • Dec 29, 2008 7:57pm Dec 29, 2008 7:57pm
Quoting raczekfx
LOL.. if all of them were that easy to manage, trading would be much simpler..
I'm still waiting for xxx/jpy...., c'mon boj, we know you have your fingers on the button... just press it..
yeah c'mon,,, waiting to
  • #17,615
  • Dec 29, 2008 8:13pm Dec 29, 2008 8:13pm
Quoting raczekfx
I'm 'envy' of my trading buddy, he was in the same trade (with almost identical entry/tps - what the skype is for..lol), but he trades much, much 'heavier' at $30/ps.
One day.... one day.... we'll get there.
Nice.

...I traded $20 per point on the Aus 200 by mistake once. Came out of it a winner, but watered it down pretty quick when I realised. What a shock! The move would have been worth $7000-$8000 at that original size, and incidentaly, NEVER hit my stop. ...Of course that's not the point! LOL
Bundy's status today: "Waiting..."
  • #17,616
  • Dec 29, 2008 8:20pm Dec 29, 2008 8:20pm
Quoting raczekfx
My final tp was hit, so I'm flat for the moment. If it wasn't for the the 'slow season', I'd probably reversed at that tp. Now it's a waiting game, but I tend to think we're going up to old tp1 from here..
.. also looking at g/chf

I agree its a great spot for tp. Definately looks like time for retrace but i really like the look of todays beb. so i moved the stop to just above todays high.
If we get a solid bub ib i'll move the stop above there.

Honestly i'm usually out by now but i'm using this trade to be taken out by pa.
I think this year will give some good trends & i'm going to try to stay in as long as i can. last year i think was all about shock & awe/volatility.

I have to develop my own stategy for staying in. I've played with various styles but haven't found my comfort zone yet.

looking fwd to an even better year than the last
  • #17,617
  • Dec 29, 2008 8:26pm Dec 29, 2008 8:26pm
Quoting rustyjeff
I agree its a great spot for tp. Definately looks like time for retrace but i really like the look of todays beb....
I agree with your approach. Have been trying to blend my management styles to take advantage of both ways of trading. I can see a lot of work ahead still though.
Bundy's status today: "Waiting..."
  • #17,618
  • Dec 29, 2008 8:27pm Dec 29, 2008 8:27pm
EC is at a significant point for sure, but I am still holding with stops dropped. Weekly still looks like plenty of drop left, monthly we do have a solid build up of bar highs from 2001-2003 at 1.4800. I am not trusting swissy is giving up the ghost yet. We will know soon.
  • #17,619
  • Dec 29, 2008 8:37pm Dec 29, 2008 8:37pm
Quoting bundyraider
Nice.

...I traded $20 per point on the Aus 200 by mistake once. Came out of it a winner, but watered it down pretty quick when I realised. What a shock! The move would have been worth $7000-$8000 at that original size, and incidentaly, NEVER hit my stop. ...Of course that's not the point! LOL
I think most have a story like this. When I first started to trade with real money, before J16 , I started with a mini acc but didn't understand the real pip value.
A couple of times i traded at 1 std lot/trade... risk must have been 50-60% at times. I got lucky for a while then blew my acc. Then i was wondering why??

Time & experience makes for some great lessons.
Hope all that come here in the new year take the time to learn not only how to enter but how to size & manage a trade. That is if you want to do this for a while.
  • #17,620
  • Dec 29, 2008 8:51pm Dec 29, 2008 8:51pm
Quoting rustyjeff
I think most have a story like this. When I first started to trade with real money, before J16 , I started with a mini acc but didn't understand the real pip value.
A couple of times i traded at 1 std lot/trade... risk must have been 50-60% at times. I got lucky for a while then blew my acc. Then i was wondering why??

Time & experience makes for some great lessons.
Hope all that come here in the new year take the time to learn not only how to enter but how to size & manage a trade. That is if you want to do this for a while.
This was when I knew better. About 15 months ago or so. Pure entry mistake.

...If you're talking about when I first started. ...well...lol... Probably not as bad as %50, but wouldn't have taken many losses to put me out of the game.

To think that now I tend to think I'm putting on a large trade if I go over 1%!! ...Have come a long long way!
Bundy's status today: "Waiting..."
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