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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

  • #20,021
  • Jan 30, 2009 6:27pm Jan 30, 2009 6:27pm
For next week...
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  • #20,022
  • Jan 30, 2009 6:40pm Jan 30, 2009 6:40pm
Anyone notice this pin on the USD/CAD. Based on my chart it looks like you could get around a 75 pips before hitting a weekly confluence level as well as trend line support.

What do you guys think of my entry, stop and tp levels? I realize that this isn't a great trade, due to lack of space, but it's for learning.

Entry - 1.2175
stop - 1.2250
TP 1 - 1.2100
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  • #20,023
  • Jan 30, 2009 6:45pm Jan 30, 2009 6:45pm
Quoting gannina
Anyone notice this pin on the USD/CAD.
Not actually a pin mate. As it didn't close within previous bar.
  • #20,024
  • Jan 30, 2009 6:56pm Jan 30, 2009 6:56pm
Quoting Blackinc
Not actually a pin mate. As it didn't close within previous bar.
True. Another thing is, you're trading directly into weekly/daily PPZ. Though, it may just break ignoring the PPZ but we must put possibility on our side. SL (if on top of PB) is larger than the reward, not worth for the try. JMHO.
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  • #20,025
  • Jan 30, 2009 7:05pm Jan 30, 2009 7:05pm
Quoting Blackinc
Not actually a pin mate. As it didn't close within previous bar.

Good call, didn't even notice that
  • #20,026
  • Jan 30, 2009 7:21pm Jan 30, 2009 7:21pm
Didn't see anybody talk about it, here's my trade from yesterday. Nice pin on the AUD/NZD, plenty of space created and then a good large pin touching off the 800 level. Stop at BE.
Attached Image (click to enlarge)
Click to Enlarge Name: 1-29 audnzd pin.gif Size: 15 KB
  • #20,027
  • Jan 30, 2009 7:48pm Jan 30, 2009 7:48pm
enculée,

So you use linux-based software for trading? What broker/platform?

Tyler

Quote
Hi James, just a quick suggestion: If possible could you use the same screen capture software as Mike? The one you use creates videos that can only be played back on windows, my house is entirely Linux/OS X + one virtual copy of windows at a pinch.
skype: ststroud. let's talk trading.
  • #20,028
  • Jan 30, 2009 8:04pm Jan 30, 2009 8:04pm
Hi Tyler

I trade forex with Oanda, who have a java based platform.
  • #20,029
  • Jan 30, 2009 8:14pm Jan 30, 2009 8:14pm
ah, gotcha


Quote
I trade forex with Oanda, who have a java based platform.
skype: ststroud. let's talk trading.
  • #20,030
  • Jan 30, 2009 10:44pm Jan 30, 2009 10:44pm
Quoting jarroo
Yes I'm still in my 2nd half and moved my stop loss just under 1.4200 level. I can't post a chart right now.

Chart.

Obviously if there is any Daily bearish Price Action or a reversing PB, I'll adjust my position accordingly.
Attached Image
Indicators show the past. Price Action "Indicates" the future.
  • #20,031
  • Jan 30, 2009 11:01pm Jan 30, 2009 11:01pm
Quoting jarroo
Chart.

Obviously if there is any Daily bearish Price Action or areversing PB, I'll adjust my position accordingly.

Nice job, jim
Holding through that ppz after a few days looking like she might turn shows true experience, dedication to ones plan & thorough understanding of everything that James teaches...

All newbies, In case you have not allready noticed. listen to all this gentleman says. He is wise & knows his stuff. He also is good at explainin it.

thanks for your input Jarroo.
  • #20,032
  • Jan 30, 2009 11:28pm Jan 30, 2009 11:28pm
Quoting rustyjeff
Nice job, jim
Holding through that ppz after a few days looking like she might turn shows true experience, dedication to ones plan & thorough understanding of everything that James teaches...

All newbies, In case you have not allready noticed. listen to all this gentleman says. He is wise & knows his stuff. He also is good at explainin it.

thanks for your input Jarroo.
It also helps that my account size is not as big as Jim's. lol.

Basicly once my 1st taget/1st half was hit and my 2nd half move to break even, I was going to let ride until Daily Price Action tells me to get out. Ignoring the large pip swings of 200-300 pips is hard to do but I have nothing to lose and a whole lot (no pun intended) to gain.
Indicators show the past. Price Action "Indicates" the future.
  • #20,033
  • Jan 31, 2009 12:42am Jan 31, 2009 12:42am
Simoncs

Hello mind if i ask toyr reasoning for takin the GBP/CHF breakout trade?

Thanks Gerard
  • #20,034
  • Jan 31, 2009 2:28am Jan 31, 2009 2:28am
Sorry, this is probably pretty dumb, but does anyone have the weekly and daily pivot levels, without the midpoints or those SR1 SR2 things? I've seriously downloaded like 6 different pivot levels, and I turn off the midpoints, but it won't go away! Even went into the programming to try to figure that part out (oh my), but couldn't get it working. Ty in advance.
  • #20,035
  • Jan 31, 2009 3:22am Jan 31, 2009 3:22am
try these.
Attached File(s)
File Type: ex4 Pivots_Weekly.ex4   7 KB | 573 downloads
File Type: mq4 MultiplePivotsV2.mq4   26 KB | 609 downloads
File Type: ex4 Pivots_Monthly.ex4   7 KB | 571 downloads
PATIENCE... DISCIPLINE
  • #20,036
  • Jan 31, 2009 3:59am Jan 31, 2009 3:59am
Thanks, not quite what I was looking for, but this is interesting. Will have to figure it out. Ty again
  • #20,037
  • Jan 31, 2009 4:02am Jan 31, 2009 4:02am
something ill be watching monday and the coming week
Attached Image(s) (click to enlarge)
Click to Enlarge Name: daily.jpg Size: 146 KB
Click to Enlarge Name: weekly.jpg Size: 114 KB
PATIENCE... DISCIPLINE
  • #20,038
  • Jan 31, 2009 4:06am Jan 31, 2009 4:06am
That looks extremely bullish...would not personally consider shorting it at that point, PA or not. I would not be surprised if it retraced 100% of that fib you have on there.

edit: woops, just saw your other chart and realised you don't want to short it, my bad.
  • #20,039
  • Jan 31, 2009 4:25am Jan 31, 2009 4:25am
nice work hook@yah
i also think there is minor resistance at 1.69 but it shld reach 1.75/1.76
but we hav to see wat happens at 1.69
cheers
Simplicity is the key to success
  • #20,040
  • Jan 31, 2009 5:00am Jan 31, 2009 5:00am
Quoting jarroo
Chart.

Obviously if there is any Daily bearish Price Action or a reversing PB, I'll adjust my position accordingly.
sick trade dude
change the future, not the past
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