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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

  • #18,741
  • Jan 15, 2009 8:15pm Jan 15, 2009 8:15pm
Gentlemen
Could some wiser preson than me give me your thoughts on pinbars on Aud/Usd and Cad/Jpy , i am still on a steep learning curve.

Regards Gerard
  • #18,742
  • Jan 15, 2009 8:31pm Jan 15, 2009 8:31pm
Quoting Gerard212
Gentlemen
Could some wiser preson than me give me your thoughts on pinbars on Aud/Usd and Cad/Jpy , i am still on a steep learning curve.

Regards Gerard
Hey gerard

Put my thoughts on the charts for you

Best
Mike
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  • #18,743
  • Edited 8:51pm Jan 15, 2009 8:34pm | Edited 8:51pm
I'm about to set my long entry order for this one...

thoughts/comments anyone?
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  • #18,744
  • Jan 15, 2009 8:41pm Jan 15, 2009 8:41pm
Quoting raczekfx
... and they listened....
I think I call it the week and let it roll till at least 136
300 more to go;
134.50 looks like a better tp for euro session
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  • #18,745
  • Edited 10:46pm Jan 15, 2009 8:42pm | Edited 10:46pm
Quoting G550
Would you not consider the BUOB as proper PA?
Razcek uses PA as confirmation of his entry, instead of how we use PA to confirm an entry. lol (Did I say that right . . lol)
Indicators show the past. Price Action "Indicates" the future.
  • #18,746
  • Jan 15, 2009 8:47pm Jan 15, 2009 8:47pm
Quoting Gerard212
Gentlemen
Could some wiser preson than me give me your thoughts on pinbars on Aud/Usd and Cad/Jpy , i am still on a steep learning curve.

Regards Gerard
I actually am holding my usd/cad short. I like cad/jpy better than au, but they both have "some" room to run. Sorry, I don't have much time to give a better explanation, maybe a bit later or someone else. C/J looks to have a little more room before running into some resistence, maybe the center of that daily consolidation around the fib 38.2% of this wave, ~74.50.
  • #18,747
  • Jan 15, 2009 8:54pm Jan 15, 2009 8:54pm
Hello, we have a lot of pin on the nzd crosses today, but I think the one i'm going to take is on nzdchf. Divergence, all time low, perfectly shaped pin. As for nzdusd, I wouldn't go long on that pair because we have a strong resistance just above the pin, so not enough room to go long I think.
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  • #18,748
  • Jan 15, 2009 9:05pm Jan 15, 2009 9:05pm
Quoting trujillo1980
...I see...can you post a reason why you set your S/L at 46.85???

I set at 47.50 30 pips lower than the low of the left eye and just lower than 61 fib. of the PB itselft.

Regards
Well I always play the stop below the pinbar, overall I have found to make more money doing this. But I know there is a few people that play with different stop levels, but I'm a simple kind of guy who likes things easy, the low of pin was around 4700, so i place my stop below the 00 number.

Regards
  • #18,749
  • Jan 15, 2009 9:05pm Jan 15, 2009 9:05pm
eurpln daily pinbar
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  • #18,750
  • Jan 15, 2009 9:09pm Jan 15, 2009 9:09pm
Hey Raczek,

First of all, congratulations. I've been following your posts for some time now, and learning a lot.
About this GY trade, would you mind clarifying to me why did you bet on a Buy order when PA was dancing around the support?

I mean, trend is down, PA formed nearly a downward triangle there. I would remain neutral, but if I really HAD to trade it I would certainly put a sell. What an loss it would have been.

Anyway, I'm just curious as what have you seen, that I haven't.
Thanks in advance. And congrats again!

Quoting raczekfx
300 more to go;
134.50 looks like a better tp for euro session
Chasing Livermore...
  • #18,751
  • Jan 15, 2009 9:40pm Jan 15, 2009 9:40pm
My long order for NZD/USD at .5465 was hit.

I'm thinking of closing half of the position at .5550 as it looks like it is a ppz with some resistance. After that I will set the stop to breakeven and target the second green line ppz at .5800. I think these areas are also good tp's because they are nice round numbers.

This is one of my first trades applying what I've learned here so any advice is greatly appreciated.

Thanks guys!

edit: i was also thinking of .5650 as a pivot zone
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  • #18,752
  • Jan 15, 2009 9:42pm Jan 15, 2009 9:42pm
Quoting osyrius
Hey Raczek,

First of all, congratulations. I've been following your posts for some time now, and learning a lot.
About this GY trade, would you mind clarifying to me why did you bet on a Buy order when PA was dancing around the support?

I mean, trend is down, PA formed nearly a downward triangle there. I would remain neutral, but if I really HAD to trade it I would certainly put a sell. What an loss it would have been.

Anyway, I'm just curious as what have you seen, that I haven't.
Thanks in advance. And congrats again!
Hi Osyrius,

Go back a week worth of Racs posts and you'll be able to gain insight on his decision that way.

(It's to do with watching other key markets)
Bundy's status today: "Waiting..."
  • #18,753
  • Jan 15, 2009 9:44pm Jan 15, 2009 9:44pm
Quoting scott087
This is one of my first trades applying what I've learned here so any advice is greatly appreciated.
Good work.
Bundy's status today: "Waiting..."
  • #18,754
  • Jan 15, 2009 9:49pm Jan 15, 2009 9:49pm
PB on the Euro. 1.3300 1st target. Like to see Price pass that level and turn into support.
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Indicators show the past. Price Action "Indicates" the future.
  • #18,755
  • Jan 15, 2009 9:51pm Jan 15, 2009 9:51pm
Quoting ghous
PA (location + shape) + with the trend + supp/res confluence =

It's great to be back!

Regards,
Ghous.
Welcome back.
Indicators show the past. Price Action "Indicates" the future.
  • #18,756
  • Jan 15, 2009 9:59pm Jan 15, 2009 9:59pm
Mike

Thanks for quick reply however on my platform for aussie O 6645,C 6668,H 6700,and L 6537 so looks like a good pin so if i may ask was location good ?

Gerard
  • #18,757
  • Jan 15, 2009 10:07pm Jan 15, 2009 10:07pm
Quoting Gerard212
Mike

Thanks for quick reply however on my platform for aussie O 6645,C 6668,H 6700,and L 6537 so looks like a good pin so if i may ask was location good ?

Gerard
Hey Gerard

I still wouldn't play it personally because the nose isn't protruding far away from the bars to the left. If you had a long nose through .6500 or at least much bigger then the bar then yes.

Best
Mike
  • #18,758
  • Jan 15, 2009 10:10pm Jan 15, 2009 10:10pm
This is NOT trading advice. I have mentiuoned many times that account size matters and that we are all different personalities and traders.

my stop on nzd/jpy is already at breakeven and i have already taken a nice profit off of the table.

is there anything wrong with a trader that sees this going to the 38 or 50 fib. surely not and it may very well do so. if it does i have extra profit BUT THE CHANCE OF ME LOSING MONEY ON THIS TRADE IS 0.

trading like this with a decent account size and an ultra picky entry strategy is how you make it in this business in my opinion.

jim
  • #18,759
  • Jan 15, 2009 10:16pm Jan 15, 2009 10:16pm
Quoting james16
This is NOT trading advice. I have mentiuoned many times that account size matters and that we are all different personalities and traders.

my stop on nzd/jpy is already at breakeven and i have already taken a nice profit off of the table.

is there anything wrong with a trader that sees this going to the 38 or 50 fib. surely not and it may very well do so. if it does i have extra profit BUT THE CHANCE OF ME LOSING MONEY ON THIS TRADE IS 0.

trading like this with a decent account size and an ultra picky entry strategy is how you make it...
I would change "in my opinion" to just a period " . ".
Indicators show the past. Price Action "Indicates" the future.
  • #18,760
  • Jan 15, 2009 10:25pm Jan 15, 2009 10:25pm
i must be getting old. it took me about 2 minutes of intense concentration to get what you were saying here. lol

Quoting jarroo
I would change "in my opinion" to just a period " . ".
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