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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

  • #21,321
  • Edited 2:30am Feb 13, 2009 2:19am | Edited 2:30am
Ya you got it right actually, this would be a pennant instead

I guess the fancy names aren't really that important, just a signal that everything is a-ok IMO

I used to basically trade similar patterns, without any sort of PA at all. Now I'm just trying to use them as confirmation that everything is good, and it seems to be a much better idea.
  • #21,322
  • Feb 13, 2009 2:23am Feb 13, 2009 2:23am
First TP reached at 131.70, stop at BE. Next resistance area at 132.50, but I'm going to trail this up and see if we can get hold of a longer term move. Maybe the BOJ will step in and give us a helping hand...
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  • #21,323
  • Feb 13, 2009 2:33am Feb 13, 2009 2:33am
hallo everybody! my question for James16gr. you know everybody say 'don`t let winner become a loser' i`am not quite understand this. because 90% of the time..... o`k 85% of the time my trades go my way for about 10-20pips, but then (85% ) of the time turn around and i end up with a stop loss. Could you please explain what that phrase means? PS Thank you to James16 to start this thread and all other guys who keep this going. And hallo to everybody from Russia
  • #21,324
  • Feb 13, 2009 2:38am Feb 13, 2009 2:38am
Quoting jarroo
Not a bad place to take some off the table. (150 + pips)

Next stop, the moon. lol
Jarro, g/j first target hit
  • #21,325
  • Feb 13, 2009 2:39am Feb 13, 2009 2:39am
Quoting Jlr
Ya you got it right actually, this would be a pennant instead

I guess the fancy names aren't really that important, just a signal that everything is a-ok IMO

I used to basically trade similar patterns, without any sort of PA at all. Now I'm just trying to use them as confirmation that everything is good, and it seems to be a much better idea.
i never could realize the patterns untill someone remind me....
  • #21,326
  • Feb 13, 2009 2:47am Feb 13, 2009 2:47am
Np, are you in this btw pip? What kind of profit target are you looking at? I'm eyeing 92.50, seems greedy though, as there is still some decent traffic in the way. Not really sure what I plan to do if it gets closer to there, which I it does

Hey suunto, I suggest you thread through this thread, as it seems to be the best forex thread I've found on the web by far. You will learn more then you could have imagined. GL
  • #21,327
  • Feb 13, 2009 2:48am Feb 13, 2009 2:48am
Hi Suunto!

Not letting a trade turn into a loser just means getting your stop to break even as soon as possible.

Now that will mean you will get stopped out a lot but a 0% change in your account is always a winner compared to a negative % change!
  • #21,328
  • Feb 13, 2009 2:52am Feb 13, 2009 2:52am
Quoting Piproo
Jarro, g/j first target hit
Great job Pip. What do you see as the next likely target?

It may not hit today but if the trend continues where do you think the next target would be?
Indicators show the past. Price Action "Indicates" the future.
  • #21,329
  • Feb 13, 2009 2:57am Feb 13, 2009 2:57am
Quoting suunto
hallo everybody! my question for James16gr. you know everybody say 'don`t let winner become a loser' i`am not quite understand this. because 90% of the time..... o`k 85% of the time my trades go my way for about 10-20pips, but then (85% ) of the time turn around and i end up with a stop loss. Could you please explain what that phrase means? PS Thank you to James16 to start this thread and all other guys who keep this going. And hallo to everybody from Russia
Hello Suunto! Welcome to the thread! The phrase just means that 'dont be too greedy and stay in a trade longer, which may the flip over to make you loss'. Anyway Iam not so good at explaing things, maybe someone can explain this better

ALM
"""" --- -- - << ..:: ALM ::.. >> - -- --- """"
  • #21,330
  • Feb 13, 2009 3:22am Feb 13, 2009 3:22am
Hi all,

Has anyone got a different outlook on the Pin bar forming on the AUDUSD presently. Does this look like a good opportunity to short despite the prevailing trend. Kindly shed more light on this please.

Thanks.
  • #21,331
  • Feb 13, 2009 3:23am Feb 13, 2009 3:23am
Gbp/Jpy:

Inserted Video
Indicators show the past. Price Action "Indicates" the future.
  • #21,332
  • Feb 13, 2009 3:24am Feb 13, 2009 3:24am
yes i agree, this is the best information about the market that you can get for free.... what i am talking about this kind of information most of the time you dont get even if you pay. and i steel reading page 265 so long way to go
  • #21,333
  • Feb 13, 2009 3:29am Feb 13, 2009 3:29am
Wow nice trade there. Wish I had taken it, but was getting tired of just shot gunning your guys' trades. As effective as they had been, wasn't learning much on my own... oh well made a new high in my micro account, very happy nonetheless
  • #21,334
  • Feb 13, 2009 3:38am Feb 13, 2009 3:38am
Hello Shermenator,

Very interesting your stuff : thanks for sharing, it's very kind of you !!

Is the trend line tool with digit level an indicator ?

Happy trading all

Cheers

Angel
  • #21,335
  • Feb 13, 2009 3:39am Feb 13, 2009 3:39am
Quoting jarroo
Gbp/Jpy:

http://www.youtube.com/watch?v=7t3yj...eature=related
nice one jarro! this makes our wk
  • #21,336
  • Feb 13, 2009 3:46am Feb 13, 2009 3:46am
Quoting raczekfx
..

It's worth waiting and saving your capital for days like today

Dow closed above ppz, so I will look forward for dozens PA entries from a daily perspective.

.
Feels like Christmas all over again, doesn't it....
Time to book profit...
  • #21,337
  • Feb 13, 2009 3:58am Feb 13, 2009 3:58am
Quoting Piproo
nice one jarro! this makes our wk
So what's are next likely target Pip?
Indicators show the past. Price Action "Indicates" the future.
  • #21,338
  • Feb 13, 2009 4:05am Feb 13, 2009 4:05am
Quoting jarroo
So what's are next likely target Pip?
Hi Jarroo

If I may chip in...

I'm also in this from the break of the Pin Bar and took some off after 150 pips. It looked like this 13350 area could be a problem but it is moving through this as I type. If this holds I can't see anything on the Daily that should hold it back until around 13550?
  • #21,339
  • Feb 13, 2009 4:08am Feb 13, 2009 4:08am
Quoting jarroo
So what's are next likely target Pip?
hope im right, correct me if im wrong please

134 minor resistence, easy to go 135. if break we have 137 and 140 ahead, but unlikely to reach today
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  • #21,340
  • Feb 13, 2009 4:09am Feb 13, 2009 4:09am
Quoting jarroo
Gbp/Jpy:

http://www.youtube.com/watch?v=7t3yj...eature=related
You can't beat Ol' Blue Eyes.
I was still rubbing the sleep out of my eyes when this baby broke up.
Guess I'll have to start getting up earlier.
Trouble is I now feel like I'm missing out which can easily lead to indiscipline.
Happy for you guys that did catch it.
Steve.
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"The more I practice, the luckier I get." (Gary Player)
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