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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

  • #22,241
  • Feb 23, 2009 2:44am Feb 23, 2009 2:44am
Grats ghous, glad to see
  • #22,242
  • Feb 23, 2009 2:48am Feb 23, 2009 2:48am
Quoting jarroo
I agree, a long term play on the Euro looks good. IBs are riskier PAs, as always location is key.
Also favoring the E/U Long, waiting for a retrace and getting some positions, partial TP at 1.3000.

Amis
simple....
  • #22,243
  • Feb 23, 2009 3:10am Feb 23, 2009 3:10am
I'm thinking of shorting it atm. Placing a short order and waiting for a retracement.
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  • #22,244
  • Feb 23, 2009 3:13am Feb 23, 2009 3:13am
Quoting hijackxx
I'm thinking of shorting it atm. Placing a short order and waiting for a retracement.
Well its already retracing, my sole oppinion.

Amis
simple....
  • #22,245
  • Feb 23, 2009 5:08am Feb 23, 2009 5:08am
Quoting hijackxx
I'm thinking of shorting it atm. Placing a short order and waiting for a retracement.
Closed half for 47pips and let the rest run targeting somewhere around .2746 which I consider as the nezt PPZ.

I've also took PB on usdcad and already set it to BE. It's looking good as the daily is also showing a possible PB in the cooking
  • #22,246
  • Feb 23, 2009 5:12am Feb 23, 2009 5:12am
charts:
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdcaddaily.gif Size: 24 KB
  • #22,247
  • Feb 23, 2009 5:19am Feb 23, 2009 5:19am
Quoting hijackxx
Closed half for 47pips and let the rest run targeting somewhere around .2746 which I consider as the nezt PPZ.

I've also took PB on usdcad and already set it to BE. It's looking good as the daily is also showing a possible PB in the cooking
Same thought on the .2746 as the price broke my 1st res area. 2d - .2746 should hold having in mind that its a 50Ret, 233Fibo Level and previous Resistance.

Amis
simple....
  • #22,248
  • Feb 23, 2009 5:30am Feb 23, 2009 5:30am
Quoting hijackxx
Closed half for 47pips and let the rest run targeting somewhere around .2746 which I consider as the nezt PPZ.

I've also took PB on usdcad and already set it to BE. It's looking good as the daily is also showing a possible PB in the cooking
Great job mate, keep on grabbing some pips
  • #22,249
  • Feb 23, 2009 5:35am Feb 23, 2009 5:35am
I have a slight bullish bias, but nice 4h pin forming for the short on eurjpy, already formed and broken on the 3hr oanda feed.
  • #22,250
  • Feb 23, 2009 5:38am Feb 23, 2009 5:38am
Quoting Airmos
Same thought on the .2746 as the price broke my 1st res area. 2d - .2746 should hold having in mind that its a 50Ret, 233Fibo Level and previous Resistance.

Amis
yeah I see it bounced like more than 4times in that area. Btw what trade u've got into? short/long?

Datogio: Thanks, mate. Goodluck with you too. Also thanks for the indicator I asked
  • #22,251
  • Feb 23, 2009 5:38am Feb 23, 2009 5:38am
Quoting enculée
I have a slight bullish bias, but nice 4h pin forming for the short on eurjpy
i see it too very tempting
"Don't trade to trade . . . trade to win." - James16
  • #22,252
  • Feb 23, 2009 5:55am Feb 23, 2009 5:55am
Quoting hijackxx
yeah I see it bounced like more than 4times in that area. Btw what trade u've got into? short/long?

Datogio: Thanks, mate. Goodluck with you too. Also thanks for the indicator I asked
Didnt enter a trade, yet Nothing actually looked worth trading, well except for USD/JPY but overslept that one :| waiting for a retracement on the E/U and looking into E/J it perfectly stopped at the 987, Should retrace or go sideways then either long up or short down.

Amis
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simple....
  • #22,253
  • Feb 23, 2009 6:05am Feb 23, 2009 6:05am
Quoting hijackxx
charts:
don't like the pin on 1hr. closed for 30pips
  • #22,254
  • Feb 23, 2009 6:11am Feb 23, 2009 6:11am
Anyone else waiting for the break with me?
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"Whether you think you can or can't, you're right." Henry Ford
  • #22,255
  • Feb 23, 2009 6:48am Feb 23, 2009 6:48am
Quoting Tmac
this works
Thank you Tmac
  • #22,256
  • Edited 6:50am Feb 23, 2009 6:49am | Edited 6:50am
Quoting Scot Pippin'
Anyone else waiting for the break with me?
I'll be sticking to Daily/Weekly charts for the next several months. Trying to follow 'Jim's Tools for Success', as I call them.

http://www.forexfactory.com/showpost...ostcount=12411

Josh
  • #22,257
  • Feb 23, 2009 7:17am Feb 23, 2009 7:17am
me too. got destroyed by trying to trade pins before they are broken and trading 1 hr pins that fail.


Quoting Jduester
I'll be sticking to Daily/Weekly charts for the next several months. Trying to follow 'Jim's Tools for Success', as I call them.

http://www.forexfactory.com/showpost...ostcount=12411

Josh
  • #22,258
  • Feb 23, 2009 7:25am Feb 23, 2009 7:25am
What is your guy's thoughts on setting my orders ahead f time, so if they are hit I enter? I am not able to be at the computer when my plan stikes.
Dr. C
  • #22,259
  • Feb 23, 2009 7:30am Feb 23, 2009 7:30am
Quoting cvcamper
What is your guy's thoughts on setting my orders ahead f time, so if they are hit I enter? I am not able to be at the computer when my plan stikes.
I place most of my trades as Entry stop orders, which seems to be what you refer to... (or limit orders if you are playing a retrace). Therefore, I don't see a problem with entering orders ahead of time... PROVIDED that the PA signal has already closed and given you a proper reason for placing the trade. I also place my SL/TP prior to entry... as a conditional order...
  • #22,260
  • Feb 23, 2009 7:32am Feb 23, 2009 7:32am
If you are trading Price Action you need to wait until the bar closes to set your orders, or else the bar may not form a PA Bar(pin bar, BEOB, BUOB) and you will get burned. Also play on the break of these bars rather that the open of the next bar for a more conservative strategy.


Quoting cvcamper
What is your guy's thoughts on setting my orders ahead f time, so if they are hit I enter? I am not able to be at the computer when my plan stikes.
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