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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

  • #19,801
  • Jan 28, 2009 3:55pm Jan 28, 2009 3:55pm
Quoting trujillo1980
Great... took it @1.4050, TP1 @1.4182 Im currently out @1.4330
For me it was a B++ trade, location of the PB weigthed more than PB itself.

Ah...and I don't watch the news never, IMO price itself tells me everything I want to know....

Regards...
Yea it wasn't an A setup, but it did feel like it had a lot of room if it broke those bars.. which it did. Easy

And i don't think you quite understood me, cause i don't really watch the news either, had no idea what was in it. I was referring to the heatwave downunder at the moment..
  • #19,802
  • Jan 28, 2009 3:58pm Jan 28, 2009 3:58pm
Quoting jarroo
Your High for today so far, has not hit 1.4373-1.4375? That's weird.
It has, look at my 15Min chart, I went short on the first pinbar off of the PPZ.

Yep its .4375 - Just checked.
  • #19,803
  • Jan 28, 2009 4:00pm Jan 28, 2009 4:00pm
You're right. You just need to adjust lot size for your trades so even 10 separate positions (on one pair) means e.g. 2% of your account.
And one more thing - it should tell you your backtesting if it's ok with your mind&trading style to split your trades into many positions or you want just one position and close it all on PT or whatever else.

Quoting trujillo1980
I may say that you will lost the same % of the account you expected to lose based on the S/L and position side (splited in 2 parts)...please correct me if Im wrong....

take care...
  • #19,804
  • Jan 28, 2009 4:01pm Jan 28, 2009 4:01pm
Quoting Jigsaw
It has, look at my 15Min chart, I went short on the first pinbar off of the PPZ.

Yep its .4375 - Just checked.
My bad. I was looking at your earlier 4 hour Gbp/Usd chart.
Indicators show the past. Price Action "Indicates" the future.
  • #19,805
  • Jan 28, 2009 4:22pm Jan 28, 2009 4:22pm
Quoting gannina
Hi Jd, that looks like a weak evening doji star to me. I personally like to see a gap on the second candle in any star formation. It does have some stuff going for it like the confluence of Restistance, and the bearish third candle. But if you're just looking at the formation of the pattern in isolation, it is not very strong.

** Actually I take that confluence statement back, I don't see much there. The pattern also looks really weak on my demo feed, but who knows how accurate that is
Thanks for taking a look. I wonder how often we actually see a true star formation on fx since gaps are so rare. But the star itself is week in my opinion because of how long the shadows are. Would have liked a true '+' up there...

Glad I didn't take it now anyway!

Josh
  • #19,806
  • Jan 28, 2009 4:27pm Jan 28, 2009 4:27pm
Quoting Jduester
...

Josh
I thought you still in Madison.

Anyway, this is what I'm currently watching. Going to hold or going to break
Attached Image
  • #19,807
  • Jan 28, 2009 5:20pm Jan 28, 2009 5:20pm
Hi Guys

Anyone think this pin is worth taking if it breaks? With the trend, possible ppz forming, swing high and 'space' to the left? Is this a good setup(if it breaks)?
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PA is where its at!!
  • #19,808
  • Jan 28, 2009 5:26pm Jan 28, 2009 5:26pm
Quoting arcus
I thought you still in Madison.

Anyway, this is what I'm currently watching. Going to hold or going to break

I don't see anything here right now. I guess keep an eye on it. I'll be watching the EUR/USD daily, as I show 2 pinbars wanting to fall into PPZ under 1.31... OR, they'll want to bounce off it once again. They also form a TBH...

Josh
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  • #19,809
  • Jan 28, 2009 5:31pm Jan 28, 2009 5:31pm
Quoting bertie123
Hi Guys

Anyone think this pin is worth taking if it breaks? With the trend, possible ppz forming, swing high and 'space' to the left? Is this a good setup(if it breaks)?

I don't actually show a pin on my feed. (FXexpress with Accucharts data) Notice how there are 3 pinbars (wrong location) prior to this pinbar too, all suggesting higher prices.

I don't know if this is correct rationale or not but figured I'd throw in my 0.02 to learn for myself if nothing else. Maybe someone more experienced can shed some light.

Josh
  • #19,810
  • Jan 28, 2009 5:36pm Jan 28, 2009 5:36pm
Quoting Blackinc
Yea it wasn't an A setup, but it did feel like it had a lot of room if it broke those bars.. which it did. Easy

And i don't think you quite understood me, cause i don't really watch the news either, had no idea what was in it. I was referring to the heatwave downunder at the moment..
Sorry about the NEWS , I was refering earlier post that someone was talking about watching the NEWS or not for trading this style of trading...

Take care bro...
  • #19,811
  • Jan 28, 2009 5:41pm Jan 28, 2009 5:41pm
Quoting ajchi
You're right. You just need to adjust lot size for your trades so even 10 separate positions (on one pair) means e.g. 2% of your account.
And one more thing - it should tell you your backtesting if it's ok with your mind&trading style to split your trades into many positions or you want just one position and close it all on PT or whatever else.

Thank you ajchi, I will do backtesting also I will keep demoing to figure out what it suit best for me.

regards...
  • #19,812
  • Jan 28, 2009 5:50pm Jan 28, 2009 5:50pm
What you guys think of this pin?Fib confluence,ppz,with trend.Do you think there is not enough space?That is all I could see that would stop this trade if that.What is wrong with this trade?The reason I ask is because I have not seen anyone post anything about it.And you guys usually don't miss a beat!
  • #19,813
  • Jan 28, 2009 5:51pm Jan 28, 2009 5:51pm
Sorry forgot chart!
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  • #19,814
  • Jan 28, 2009 5:55pm Jan 28, 2009 5:55pm
Quoting jlmac27
What you guys think of this pin?Fib confluence,ppz,with trend.Do you think there is not enough space?That is all I could see that would stop this trade if that.What is wrong with this trade?The reason I ask is because I have not seen anyone post anything about it.And you guys usually don't miss a beat!
The Cable Pin on my daily looks too small compared to the bars around it, and there is traffic not too far below it.

It might be worth a play of the break down to 1.4025 area or so, but the R:R would not be all that great.

Also on my chart, the bar actually closed 5 pips higher than the high of the previous day, so it wouldn't be considered a Pin.

Just a different look from a different time frame.

I do have a nice looking DBLHC on the Daily USDJPY. It is right into traffic though. Anyone else seeing this?
  • #19,815
  • Jan 28, 2009 6:17pm Jan 28, 2009 6:17pm
Hi guys take a look of my chart What do you think if it brakes the 2 matching highs???

Any advice are more than welcome...
Attached Image (click to enlarge)
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  • #19,816
  • Jan 28, 2009 6:40pm Jan 28, 2009 6:40pm
Quoting jlmac27
Sorry forgot chart!
I'm with ya on cable pin. I got in on 15m pin off 1.4375 but will hold it in case the daily breaks. Not a big nose, but it's got 500-600 pips to run before any major support.
  • #19,817
  • Jan 28, 2009 8:44pm Jan 28, 2009 8:44pm
Quoting Betard
I'm with ya on cable pin. I got in on 15m pin off 1.4375 but will hold it in case the daily breaks. Not a big nose, but it's got 500-600 pips to run before any major support.
Good play on the 15m but I think the daily may have some trouble in the 1.40 area i don't like those closes around the 1.40 area in the past few days. I am a newb and am still demoing but not sure what people think about this trade. It does show some confluence tho wit the 61.8 fib any one else take this or reject this?
  • #19,818
  • Jan 28, 2009 8:55pm Jan 28, 2009 8:55pm
Quoting dmc
Good play on the 15m but I think the daily may have some trouble in the 1.40 area i don't like those closes around the 1.40 area in the past few days. I am a newb and am still demoing but not sure what people think about this trade. It does show some confluence tho wit the 61.8 fib any one else take this or reject this?
That's true, I looked down to the 4 hour chart and the 1.4025 area could be a problem. Will have to watch that.
  • #19,819
  • Jan 28, 2009 9:55pm Jan 28, 2009 9:55pm
Hi everyone, I think GU pin has good support is the 1.43 area where price broke few days ago, now it may testing support now became resistance and continue going down. And risk/reward is good to go short now.

Any comments is welcome
  • #19,820
  • Jan 28, 2009 10:13pm Jan 28, 2009 10:13pm
hey guys. congestion/traffic? if break 2.0000 up going to 2.0500? or if break 1.9500 down going to 1.9000?
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