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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

  • #21,201
  • Feb 12, 2009 9:36am Feb 12, 2009 9:36am
AUDJPY here is one of my other current long...

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  • #21,202
  • Feb 12, 2009 9:41am Feb 12, 2009 9:41am
I have now taken profits in the usdjpy now it can collapse against me if it reverses....let the winners run and dont let winners turn into losers...stop is t break even on the remainder

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  • #21,203
  • Feb 12, 2009 9:53am Feb 12, 2009 9:53am
Here is one of my current trades as well currently down a bitt but look at the structure as well as the rythem on the daily as well as the long wicks in about the past 12 hours...its saying a story ....

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  • #21,204
  • Feb 12, 2009 9:57am Feb 12, 2009 9:57am
lovely looking 1 hour pin on Gold
  • #21,205
  • Feb 12, 2009 9:57am Feb 12, 2009 9:57am
Quoting Shermenator
AUDJPY here is one of my other current long...

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Why did you enter at 58.67?
I see support on AUDJPY at 58-58.48. First bar that hit this range was bar on tuesday with the low at 58.44...did you go long there?
What is actual support range that is your entry based on?
thank you.
  • #21,206
  • Feb 12, 2009 9:59am Feb 12, 2009 9:59am
Quoting alter
Why did you enter at 58.67?
I see support on AUDJPY at 58-58.48. First bar that hit this range was bar on tuesday with the low at 58.44...did you go long there?
What is actual support range that is your entry based on?
thank you.

look at the last 12 hours and look at how the market would srop to simply hit stop loss and shake the buyers of the wrong side of the boat as well as the fact the more price drops the more it becomes a bargain for a buyer....also look at the location is in refrence to the rythem in the daily chart and you will see how big of a bargain is for them
  • #21,207
  • Feb 12, 2009 10:02am Feb 12, 2009 10:02am
Quoting enculée
I personally would not have taken it as a 4H setup as it is straight into support............

Quoting ghous
I would'nt want you to do that....
A short at the daily Ib was a nice entry point however considering the fact that price has travlled...................

Thanks for that.
i guess that getting the s/l to b/e at 40p-50p is making me pay the price these days...
  • #21,208
  • Feb 12, 2009 10:02am Feb 12, 2009 10:02am
Ghous, I should clarify, I day trade equities for a living, so my point of view is liable to change every 5 minutes or so ^^
  • #21,209
  • Feb 12, 2009 10:08am Feb 12, 2009 10:08am
Quoting Shermenator
look at the last 12 hours and look at how the market would srop to simply hit stop loss and shake the buyers of the wrong side of the boat as well as the fact the more price drops the more it becomes a bargain for a buyer....also look at the location is in refrence to the rythem in the daily chart and you will see how big of a bargain is for them
Hey Shermenator, I think your views are really interesting however I'm not quite sure I follow. Would you mind "dumbing" it down a bit for those of us that are hard headed? I understand your point about how price falls it becomes more of a bargain and thus increase demand and buying pressure which causes price to increase. However I'm lost when you mention the last 12 hours and stop's getting hit. How do you determine this? Also, how does this correlate into the daily?

Hope you don't mind explaining...if you feel like you're giving too much away, then that's cool, too.

Thanks!
  • #21,210
  • Feb 12, 2009 10:19am Feb 12, 2009 10:19am
Remainder of postion was taken out at break even I will sell it again if it goes up..once again what matters is winning

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  • #21,211
  • Feb 12, 2009 10:21am Feb 12, 2009 10:21am
Quoting enculée
Ghous, I should clarify, I day trade equities for a living, so my point of view is liable to change every 5 minutes or so ^^
What other markets are you into ?

Give me a brief summary of your approach if you are so kind. .

Regards
Jig (Yes looking at other markets too )
  • #21,212
  • Feb 12, 2009 10:23am Feb 12, 2009 10:23am
Quoting Shermenator
I will sell it again if it goes up..once what matters is winning

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  • #21,213
  • Feb 12, 2009 10:24am Feb 12, 2009 10:24am
Quoting G550
Hey Shermenator, I think your views are really interesting however I'm not quite sure I follow....
it seems shermenator's method is working for him, cld u pls enlighten us on how u trade .....
Simplicity is the key to success
  • #21,214
  • Feb 12, 2009 10:28am Feb 12, 2009 10:28am
Quoting panos69
Well if the market reverses like that it means that many buy stop are above and makret makers are still trying to fill in their remainder parts of their postions so I will do what they do and then hit the buy stop and then flip and hit the sell stops and shake people of the correct side of the trade and then ride the market when it ready
  • #21,215
  • Feb 12, 2009 10:28am Feb 12, 2009 10:28am
Quoting squeezy
it seems shermenator's method is working for him, cld u pls enlighten us on how u trade .....
yes but if he may he can do so in his own thread...
  • #21,216
  • Feb 12, 2009 10:29am Feb 12, 2009 10:29am
Quoting Shermenator
Took profits now letting the rest of the market do what it whants...Try to show you guys how I manage the trades and such if it bothers let me know....
It'a a good idea show how you manage your trade...Most people here just post their entry and exit, but (IM MY CASE) I'll love to see how they manage their trades...

So keep it going bro...
  • #21,217
  • Feb 12, 2009 10:35am Feb 12, 2009 10:35am
lets get back to pa guys
Simplicity is the key to success
  • #21,218
  • Feb 12, 2009 10:39am Feb 12, 2009 10:39am
Quoting squeezy
lets get back to pa guys


No use in trying to run before you can walk .
  • #21,219
  • Feb 12, 2009 10:44am Feb 12, 2009 10:44am
Quoting Jigsaw

No use in trying to run before you can walk .

Big truth
  • #21,220
  • Feb 12, 2009 10:45am Feb 12, 2009 10:45am
Quoting squeezy
lets get back to pa guys
Yeah, this is getting a little convoluted here. The methods we use with J16 tend to be (in the words of Jim) "dirt simple"

Clockwork
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