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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

  • #18,081
  • Jan 8, 2009 6:24am Jan 8, 2009 6:24am
Quoting Almfx
Hey Flem! I dont see any PB on UJ on any tf. can you be more specific on which tf or feed? Thanks

ALM
Here it is.
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"Don't trade to trade . . . trade to win." - James16
  • #18,082
  • Jan 8, 2009 6:26am Jan 8, 2009 6:26am
Quoting Almfx
Hey Flem! I dont see any PB on UJ on any tf. can you be more specific on which tf or feed? Thanks

ALM
Woops. Wrong chart. Here we go . . .
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"Don't trade to trade . . . trade to win." - James16
  • #18,083
  • Jan 8, 2009 7:47am Jan 8, 2009 7:47am
currently in this trade. Pin along rising trendline and 365 EMA confluence.
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  • #18,084
  • Jan 8, 2009 7:56am Jan 8, 2009 7:56am
That Pin delivered 200pips. Am a pin man! another 150pips in GU 4hr alpari datafeed. Thanks mike thanks jarro Thanks ghous Thanks jim Thannk raczekfx and thanks all
  • #18,085
  • Jan 8, 2009 7:59am Jan 8, 2009 7:59am
Originally Posted by xcov http://www.forexfactory.com/images/buttons/viewpost.gif
Hi guys what do you think about this Eur/Aud Daily
It looks like a DBLHC to me..
Not quite sure about the PPZ level though...


Quoting KissFan
Looks to me like we could be headed north soon. On my daily chart, I am not seeing a clear signal for a long position. That could be because I'm not an "ace" yet. That being said, I am going to wade in for long at the break of the green one hour candle indicated. (open trade at 1.9199) I'll open two positions, TP1 at 1.9246. I'll move my other position to BE at this time (1.9199)When the price gets to 1.9290, I'll move the stop of the second position to TP1 level (1.9246). If I still do not get stopped out when price gets to 1.9337, I'll...
XCOV-

As you can see on the second more recent chart, this trade was stopped out at 1.9290. (White arrow)1st position took profit for 47 pips and the second position was stopped out at 1.9290 for 91 additional pips. 138 total pips. Not bad for an hourly chart huh? Bearing in mind that your original question was on the daily TF, I just wanted to show you what I do when I am biased on a direction based on a longer TF, but am somewhat hesitant to commit a large stop loss because of an unclear indication. I'll dial down to shorter TF's for entry. I'm still biased towards a larger move up but for now will keep my attention towards clear PA winks whereever they may be. BTW, look at what price did at the 150 ema. I use the 150 and the 365. Learned that from Jim. Read and commit to memory all his charts posted here on this thread and you will be a successful trader because of it. Hope that helps you.
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  • #18,086
  • Jan 8, 2009 8:12am Jan 8, 2009 8:12am
Damn that USD/JPY played out nice!
It was obvious that the USD news will be very negative.
I mean, are there any good news these days? ^^
Hit my TP of 91.00 to the pip.
  • #18,087
  • Jan 8, 2009 8:17am Jan 8, 2009 8:17am
Quoting Naijafx
That Pin delivered 200pips. Am a pin man! another 150pips in GU 4hr alpari datafeed. Thanks mike thanks jarro Thanks ghous Thanks jim Thannk raczekfx and thanks all
LOL! Nice Naijafx,

Keep it up!

Regards,
Ghous.
I believe . . .
  • #18,088
  • Jan 8, 2009 8:24am Jan 8, 2009 8:24am
.
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  • #18,089
  • Jan 8, 2009 8:26am Jan 8, 2009 8:26am
Quoting KissFan
XCOV-

As you can see on the second more recent chart, this trade was stopped out at 1.9290. (White arrow)1st position took profit for 47 pips and the second position was stopped out at 1.9290 for 91 additional pips. 138 total pips. Not bad for an hourly chart huh? Bearing in mind that your original question was on the daily TF, I just wanted to show you what I do when I am biased on a direction based on a longer TF, but am somewhat hesitant to commit a large stop loss because of an unclear indication. I'll dial down to shorter TF's for entry....
Thanks KissFan, that helps
I was going to enter at the break of the high of the previous bar on the daily chart..but I hesitated because the risk reward ratio..
It's ok, another time maybe
  • #18,090
  • Jan 8, 2009 8:27am Jan 8, 2009 8:27am
.
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  • #18,091
  • Jan 8, 2009 8:31am Jan 8, 2009 8:31am
eur/usd is approaching two ppz zones with nice confluence

i am kind of scared of that W formation with a low @ 1.3310 and then a higher low @
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Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #18,092
  • Jan 8, 2009 8:35am Jan 8, 2009 8:35am
Quoting raczekfx
.
I closed mine after the break of the 4H trendline. May consider a re-entry if we see a test of 1.385

Regards,
Ghous.
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I believe . . .
  • #18,093
  • Jan 8, 2009 8:35am Jan 8, 2009 8:35am
Quoting raczekfx
.

same kind of action on the euro & swissy
  • #18,094
  • Jan 8, 2009 8:38am Jan 8, 2009 8:38am
Quoting raczekfx

Here's a quick intra day trade I'm in right now
.
uc
updated chart from yesterday...
even without pa one can trade successfully knowing where support and resistance is... .It takes time and practice, but, what does not?
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  • #18,095
  • Jan 8, 2009 8:38am Jan 8, 2009 8:38am
Quoting raczekfx
.
it's also 50% fib
  • #18,096
  • Jan 8, 2009 8:40am Jan 8, 2009 8:40am
Quoting djambazov84
eur/usd is approaching two ppz zones with nice confluence

i am kind of scared of that W formation with a low @ 1.3310 and then a higher low @
The higher lows don't always mean a trend reversal, corrections will often consist of such a phenomena too, the 4H is'nt the best tf to look for such aggressive trend reversal indicators

Regards,
Ghous.
I believe . . .
  • #18,097
  • Jan 8, 2009 8:43am Jan 8, 2009 8:43am
Quoting ghous
I closed mine after the break of the 4H trendline. May consider a re-entry if we see a test of 1.385

Regards,
Ghous.
I did 3/4 of mine in my favorite rectangle from post #18091
Same area acted as short term longs.
don't count much on fireworks before nf. I would rather expect gradual decline on us crosses till 8:30est tomorrow...
  • #18,098
  • Jan 8, 2009 8:44am Jan 8, 2009 8:44am
Quoting xcov
Thanks KissFan, that helps
I was going to enter at the break of the high of the previous bar on the daily chart..but I hesitated because the risk reward ratio..
It's ok, another time maybe
Something you have probably heard before....It's better to be out of a trade, wishing you were in vs. being in one and wishing you were out. I know how that feels from experience. If you are mostly unsure, stay out. Man alive, there are just so many occasions in this enviroment where we can make some money, there is no sense in taking unnecessary risk. I think that you made the exact right decision. Thank you for allowing me the chance to give back to this most useful of threads. Best of trading to you!
  • #18,099
  • Jan 8, 2009 8:45am Jan 8, 2009 8:45am
Quoting raczekfx
.
There are two fibs at this area actually, pulling from both highs of this run. I personally waiting for a thrust up past 1.3800 to ~1.3820. Watching at the least, it may not happen and finish with this hourly pin.
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  • #18,100
  • Jan 8, 2009 9:01am Jan 8, 2009 9:01am
Quoting HipsterPipster
.. I personally waiting for a thrust up past 1.3800 to ~1.3820. .
It might be just me, but judging from previous 'observations', I don't think it's going to happen (at least not today).

I hope not...lol. I'm 'fair' size u/j long since 90.94
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