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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

  • #19,161
  • Jan 20, 2009 10:26am Jan 20, 2009 10:26am
Quoting alter
Open and close are within the previous candles body {on my chart}, see attached chart.
As far as i understand the body is between the open & close, not the high and low.
  • #19,162
  • Jan 20, 2009 10:48am Jan 20, 2009 10:48am
Quoting Chris P
Another hand going up here for a loss on CHFJPY. Looking at the setup again I think it's easier to see why this pb didn't meet all the criteria for an A+ setup. Time to re-group, take it on the chin and move on...

So here's a trade I took this afternoon on EURJPY off a PPZ, low for the day, and confluence with lows and PPZ's on the GBPJPY, GBPUSD and USDJPY. Took profit at 1:1. Made up for some of the weekly loss, so all is not bad for the end of the day!
I took the EURJPY CHFJPY weekly pins. Exited with the daily BEOB yesterday so not a full loss. Only thing I would do different is not enter on a Sunday night. Better for the pin to break during London/NY session imho.

Sensible money management was used so no big deal.

cheers

fxp
  • #19,163
  • Jan 20, 2009 10:49am Jan 20, 2009 10:49am
Quoting ljr
As far as i understand the body is between the open & close, not the high and low.
Ljr, open and close have to be within the first eye.
  • #19,164
  • Jan 20, 2009 11:15am Jan 20, 2009 11:15am
Quoting yetibol
Is anyone trading the USDJPY at this moment,I find a dbhlc and also a pin bar at the same time with a support broken already and also 89 ema has been broken, daily trend was short so I short the pairs lets see how it goes although am wary of the 50% fibonacci but am trading this just to follow the trend.
Hey my friend, these kinds of charts are illegal on this thread. Be careful or we are going to issue you a ticket for astronomical speculation. Take care.
Dion
  • #19,165
  • Jan 20, 2009 11:17am Jan 20, 2009 11:17am
Quoting HipsterPipster
Hey my friend, these kinds of charts are illegal on this thread. Be careful or we are going to issue you a ticket for astronomical speculation. Take care.
Dion
LoL you made my day HipsterPipster
  • #19,166
  • Jan 20, 2009 11:19am Jan 20, 2009 11:19am
Quoting fxprocessor
I took the EURJPY CHFJPY weekly pins. Exited with the daily BEOB yesterday so not a full loss. Only thing I would do different is not enter on a Sunday night. Better for the pin to break during London/NY session imho.

Sensible money management was used so no big deal.

cheers

fxp
CHFJPY closed under the major monthly Fib so I was looking for a good break ,pullback and confirmation first anyway. I use IBFX for charting the most and it didn't break at all.

EURJPY was ugly to me. Probably responsible for making me hesitant with all those JPY bars. Too sideways.
Bundy's status today: "Waiting..."
  • #19,167
  • Jan 20, 2009 12:28pm Jan 20, 2009 12:28pm
Quoting KissFan
I'll pony up and tell you that I took that trade based on what I saw on weekly/daily. PB broke then went south. Stopped out for loss. This is where equity management comes in. I'd welcome any commentary on why someone did NOT take that trade. I'll lick my wounds later as my other trades have been doing quite well. Thanks in advance.
I was set to take it, but I had a fib level from the 6-29-08 high that was placed near the 82.00 level. I had my buy in at 82.12 but it never hit.
  • #19,168
  • Jan 20, 2009 12:34pm Jan 20, 2009 12:34pm
Hi
I've noticed this BEOB on daily U/J. Whereas I'm not playing them myself, due to a lack of understanding/confidence, I wondered if anybody else was 'eyeing' this one up?
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  • #19,169
  • Jan 20, 2009 12:54pm Jan 20, 2009 12:54pm
After Bones suggested someone read this whole thread, I got underway, learning price action.
I'm proud to say I'm through about 10% of the posts thus far (page 124). Learning a lot and enjoying learning how the PF got started, and it's developments.

Thanks to James16, SeekingLight, mbqb11, Habeeb, Bundy, and others for posting worthwhile charts that I can learn from despite being 2 years old. The setups remain the same...

Back to reading!

Josh
  • #19,170
  • Jan 20, 2009 1:11pm Jan 20, 2009 1:11pm
Hallo....would you short this EUR/CAD on BEOB coinciding with PPZ and and 38% FIB ??? It just broke the TL on a downmove.
Thanks as always....your ar the best school...
Attached Image (click to enlarge)
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Patience is essential
  • #19,171
  • Jan 20, 2009 2:21pm Jan 20, 2009 2:21pm
Quoting benem
Hallo....would you short this EUR/CAD on BEOB coinciding with PPZ and and 38% FIB ??? It just broke the TL on a downmove.
Thanks as always....your ar the best school...
Might work out for you there Benem.
Good work.

I wouldn't take it myself because I like my bearish outside bars to have a close cleanly below the previous bar. Position wise could be better too, but don't let my pickiness get in the way of you developing your own little set ups you like.

Chart below shows another resistance line that might just be the temporary hold up you have there. Maybe.
Attached Image
Bundy's status today: "Waiting..."
  • #19,172
  • Jan 20, 2009 3:04pm Jan 20, 2009 3:04pm
BEOB on the nzd/jpy monthly chart. It'll be interesting if we get a bounce off the 45.78, or if we go straight to the all time low of 41.89
Patience + Humility + Study = Success
  • #19,173
  • Jan 20, 2009 6:28pm Jan 20, 2009 6:28pm
Quoting DutchTrader
BEOB on the nzd/jpy monthly chart. It'll be interesting if we get a bounce off the 45.78, or if we go straight to the all time low of 41.89
There's ten days to go! lol

Ten days is long enough to turn this into a Bullish Outside bar instead.
Bundy's status today: "Waiting..."
  • #19,174
  • Jan 20, 2009 8:20pm Jan 20, 2009 8:20pm
Just a question. Did any of you experienced guys expect the US equity markets to tank with Obama's inagauration, and the USD and especially the JPY to get stronger?

I figured it would all be already figured into the market price. Maybe some last mintue equity investors selling before Obama makes policy? Big dog traders moving the market down either to spite Obama, or just to make some money?
  • #19,175
  • Jan 20, 2009 8:29pm Jan 20, 2009 8:29pm
Anybody else jump on the 4H PB on GBPJPY. Just closed it for 100 pips. Shows on the ATC feed.
  • #19,176
  • Jan 20, 2009 8:32pm Jan 20, 2009 8:32pm
the markets are about reality. whether you like him or not he is a very liberal and inexperienced man. the markets know this reality and until or if he proves he is not going to move this country toward socialism it will be very nervous.

my opinion is you havnt seen anything yet. my personal hope is he is as smart as he is liberal and he knows he cant do as president what he did as a senator of a very liberal state. time will tell.

make no mistake that many in his party want to go as hard left as possible. if that actually happens there could be total chaos the likes of which you have never seen.

i didnt vote for the man but unlike many on the left that never gave the former president a chance im willing to give mr. obama one.

im not holding my breath but i suppose anything is possible,

jim

Quoting unlv_tj
Just a question. Did any of you experienced guys expect the US equity markets to tank with Obama's inagauration, and the USD and especially the JPY to get stronger?

I figured it would all be already figured into the market price. Maybe some last mintue equity investors selling before Obama makes policy? Big dog traders moving the market down either to spite Obama, or just to make some money?
  • #19,177
  • Jan 20, 2009 8:35pm Jan 20, 2009 8:35pm
Quoting flyer415
Anybody else jump on the 4H PB on GBPJPY. Just closed it for 100 pips. Shows on the ATC feed.
Nice Flyer... didn't get a valid PB from my interbank feed to enter, though I do like trading this pair.
  • #19,178
  • Jan 20, 2009 8:40pm Jan 20, 2009 8:40pm
thats great flyer,

jim

Quoting flyer415
Anybody else jump on the 4H PB on GBPJPY. Just closed it for 100 pips. Shows on the ATC feed.
  • #19,179
  • Jan 20, 2009 8:52pm Jan 20, 2009 8:52pm
Quoting james16
the markets are about reality. whether you like him or not he is a very liberal and inexperienced man. the markets know this reality and until or if he proves he is not going to move this country toward socialism it will be very nervous.

my opinion is you havnt seen anything yet. my personal hope is he is as smart as he is liberal and he knows he cant do as president what he did as a senator of a very liberal state. time will tell.

make no mistake that many in his party want to go as hard left as possible. if that actually happens there could...
Jim, I agree with your words 100%. I just didn't expect the markets to tank again today, at least not so strong.

I am prepared for country collapse or not. My family has farm land and hunts and has plenty of ammo. If worst comes to worst, I am prepared. But I am hopeful for the best.

Thank you for your hard work and sharing with us new traders. I greatly appreciate it.
  • #19,180
  • Jan 20, 2009 8:53pm Jan 20, 2009 8:53pm
Quoting bundyraider
There's ten days to go! lol

Ten days is long enough to turn this into a Bullish Outside bar instead.
*insert Doh Homer Simpson face* right you are.
Patience + Humility + Study = Success
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