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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

  • #22,461
  • Feb 25, 2009 9:39am Feb 25, 2009 9:39am
Quoting supremeChaos
Altitudes444,
looking at ady27's post, it appears to be a Metaquotes MT4.

www.metaquotes.net ---look here if u haven't done yet.




cvcamper,
people from the "west side" can wake up earlier so as not to miss the action, unless u have a job or u are busy..
Yah, I have a job and am busy

How does that AUD/JPY pin bar down look.... hmmm... the next 1 hr pin is trying to retrace it.
Dr. C
  • #22,462
  • Feb 25, 2009 9:43am Feb 25, 2009 9:43am
Quoting ghous
Nice buddy

I took half off just below 1440 and the rest at 1430. It was planned to be a short term trade only, so I am flat at the moment, where do you plan to collect your next pot of gold Jig?

Regards,
Ghous.
Hey bro,

Good to see we have synchronised views of the Market

I am short EURUSD from that 1HR BEOB which I am watching like a hawk for retrace.

Easy trading to be had this week to make up for the slush (For me anyway) that was last week.

Currently out of Cable, all TP at that .43 level . Boooo look at it go down more, if it forms a pin here I will take it long but the beast isn't looking like stopping at the moment.

I am also short AUDUSD from 1HR back from a few hours ago and after being in drawdown for ages and coming 20 pips away from being stopped out. I finally am out of the drawdown . . No . . no wait a minute I am back in drawdown again hehe

After that I am looking at nothing, what about yourself ?
  • #22,463
  • Feb 25, 2009 9:44am Feb 25, 2009 9:44am
that's not bad, since u'll be able to hone your trading skills in the "right" timeframes... & once u become good at it, then u'll eventually be able to trade London & NY sessions as u might elect to quit your job by then (unless u really love your job)..
  • #22,464
  • Feb 25, 2009 9:49am Feb 25, 2009 9:49am
Quoting Jigsaw
Hey bro,

Good to see we have synchronised views of the Market

I am short EURUSD from that 1HR BEOB which I am watching like a hawk for retrace.

Easy trading to be had this week to make up for the slush (For me anyway) that was last week.

Currently out of Cable, all TP at that .43 level . Boooo look at it go down more, if it forms a pin here I will take it long but the beast isn't looking like stopping at the moment.

I am also short AUDUSD from 1HR back from a few hours ago and after being in drawdown for ages and coming 20...
Everything's fine except the Eu long

I longed the break of the weekly pin, and will be closing my long if we break 1.27, that would be a hefty loss though, oh and BTW the thing went from -200 to -15 and is now back at -188. lololol!

Regards,
Ghous.
I believe . . .
  • #22,465
  • Feb 25, 2009 9:49am Feb 25, 2009 9:49am
Hey jigsaw,
excellent multiple trades.

Am also in prior the eur$ H1 BEOB. although should've been in alot earlier...
Why waiting for it to retrace? wanna put in some more?

synchronicity with someone like ghous does give a boost in confidence, doesn't it?
  • #22,466
  • Feb 25, 2009 9:51am Feb 25, 2009 9:51am
Quoting Jigsaw
Hey bro,

Good to see we have synchronised views of the Market

I am short EURUSD from that 1HR BEOB which I am watching like a hawk for retrace.

Easy trading to be had this week to make up for the slush (For me anyway) that was last week.

Currently out of Cable, all TP at that .43 level . Boooo look at it go down more, if it forms a pin here I will take it long but the beast isn't looking like stopping at the moment.

I am also short AUDUSD from 1HR back from a few hours ago and after being in drawdown for ages and coming 20...
Oh and BTW I am with you Thom .. Jig, on having to go long Gu, I may also add to my Eu long if we do hopefully get a rejection off the respective ppzs.

@JEff,

Are you looking for any touch entries on the Eur and Pound??
I believe . . .
  • #22,467
  • Edited 10:46am Feb 25, 2009 9:53am | Edited 10:46am
Quote
Everything's fine except the Eu long

I longed the break of the weekly pin, and will be closing my long if we break 1.27, that would be a hefty loss though, oh and BTW the thing went from....
thanks for sharing your trades/insights ghous, appreciate it
Bet your eur$ trade is/has already been negated by previous &/or current tons of pips u have raked in...


highly likely, 1.2700 eur$ wil give way, though... although retracement may come in sometime soon..
  • #22,468
  • Feb 25, 2009 10:02am Feb 25, 2009 10:02am
Quoting supremeChaos
thanks for sharing your trades/insights ghous, appreciate it
Bet your eur$ trade is/has already been negated of previous &/or current tons of pips u have raked in...


highly likely, 1.2700 eur$ wil give way, though... although retracement may come in sometime soon..
I am waiting for the Usd Index and DOW futures to respond in a positive manner...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd index.gif Size: 12 KB
Click to Enlarge Name: dow future.gif Size: 7 KB
I believe . . .
  • #22,469
  • Feb 25, 2009 10:08am Feb 25, 2009 10:08am
Quoting ghous
I am waiting for the Usd Index and DOW futures to respond in a positive manner...
Ok I am long fiber...

Another test trade for the "touch entry" technique....on demo ofcaorse

Reason mentioned in the post before this (Dow hit's support, usd index hits resistance) plus som support on offer for the Eur itself.

Regards,
Ghous.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 15 KB
I believe . . .
  • #22,470
  • Feb 25, 2009 10:08am Feb 25, 2009 10:08am
gpb/chf touched 3 times 1.6550.
made a nice long PB.

Comments friends?
Attached Image (click to enlarge)
Click to Enlarge Name: gc.gif Size: 33 KB
  • #22,471
  • Feb 25, 2009 10:13am Feb 25, 2009 10:13am
Quoting ghous
Everything's fine except the Eu long

I longed the break of the weekly pin, and will be closing my long if we break 1.27, that would be a hefty loss though, oh and BTW the thing went from -200 to -15 and is now back at -188. lololol!

Regards,
Ghous.
I'm also in this weekly pinbar long. stop set under the pinbar though and won't get out early... This being the first full month of PA for me, I was using strict 1:1 R:R for my first 1st TP. March will be different, with me taking profits earlier in most cases.

For example, in theory, we say the longer the nose of a pin, the better right? Well, that would mean that we have a larger stop (in pips) if we still put stop at the bottom of the pin. That means that we would also have to hold onto the trade longer before reaching 1:1 and/or moving stop to B/E (or at least higher).

So, for March, I will be testing a different exit strategy and will compare the two after March is done.

March exit strategy: 1st TP will be 50-100 pips after entry, preferably at a PPZ (if there is one). Stop will be moved up to B/E at that point. What I anticipate - I will have higher win %, and less R:R... bottom line will be does it make more % gain...This seems to be more in line with the traders in this thread (exception Mike).

Open to all comments/concerns.

Josh
  • #22,472
  • Feb 25, 2009 10:19am Feb 25, 2009 10:19am
Quoting ady27
gpb/chf touched 3 times 1.6550.
made a nice long PB.

Comments friends?
It's these kinds of trades that if as a trader you can master there will be little that will stop you from being an insipring trader,

The challenge on this one is obviously the ranging. I won't say a lot to put the setup down it does look to be off a nice location just as you pointed out Ady, the nose is long enough too (theough the high is longer than I would have liked)

Are you up for the challenge??
Attached Image (click to enlarge)
Click to Enlarge Name: gc ih.gif Size: 12 KB
I believe . . .
  • #22,473
  • Feb 25, 2009 10:20am Feb 25, 2009 10:20am
Quoting ghous
Ok I am long fiber...

Another test trade for the "touch entry" technique....on demo ofcaorse

Reason mentioned in the post before this (Dow hit's support, usd index hits resistance) plus som support on offer for the Eur itself.

Regards,
Ghous.
Thats the stuff Ghous my bro !

Awesome
  • #22,474
  • Feb 25, 2009 10:23am Feb 25, 2009 10:23am
GBPJPY 4H looking good, not sure when the bar closes, anyone got a metatrader thingamajig that tells you?

I don't usually trade such TFs ^^

Not much space to upside though
  • #22,475
  • Feb 25, 2009 10:25am Feb 25, 2009 10:25am
Quoting ady27
gpb/chf touched 3 times 1.6550.
made a nice long PB.

Comments friends?
Agreed with Ghous about the "straight outta Slopville USA action to be seen to the left".

I for one will not be taking this.

And from my own point of view, it is not as if the eyes of the trading world are on GBPCHF. Hard HARD pairs to trade on 1HR. . .
  • #22,476
  • Feb 25, 2009 10:26am Feb 25, 2009 10:26am
Quoting ghous
It's these kinds of trades that if as a trader you can master there will be little that will stop you from being an insipring trader,

The challenge on this one is obviously the ranging. I won't say a lot to put the setup down it does look to be off a nice location just as you pointed out Ady, the nose is long enough too (theough the high is longer than I would have liked)

Are you up for the challenge??

Yes ghous my friend,
thanks for the warm word. Hope they in turn will become warm pips ....
as you can see I'm ready with the order.
Just notice that we are ranging in 450 pips and we are at the bottom of it. maybe we will take home a good portion of the range ?????
Attached Image (click to enlarge)
Click to Enlarge Name: gc.gif Size: 27 KB
  • #22,477
  • Feb 25, 2009 10:26am Feb 25, 2009 10:26am
Quoting enculée
GBPJPY 4H looking good, not sure when the bar closes, anyone got a metatrader thingamajig that tells you?

I don't usually trade such TFs ^^
Yes sir
Attached File(s)
File Type: mq4 BarClock (AAD Mods v2b).mq4   3 KB | 644 downloads
  • #22,478
  • Feb 25, 2009 10:32am Feb 25, 2009 10:32am
talk about multi-tasking.... excellent ghous!

by the way, am having some trouble with SIG MT4. it's quite slow in updating prices. How about yours?

eur has started to retrace.
Have exited my short earlier (TS hit) & my subsequent small long (prematurely exited )
the eur retrace could've been caused by the "ghous effect"




Josh,
do update us here about this "experiment" of yours, in the near future..


Quote
For example, in theory, we say the longer the nose of a pin, the better right? Well, that would mean that we have a larger stop (in pips) if we still put stop at the bottom of the pin. That means that we would also have to hold onto the trade longer before reaching 1:1 and/or moving stop to B/E (or at least higher).

So, for March, I will be testing a different exit strategy and will compare the two after March is done....
  • #22,479
  • Feb 25, 2009 10:32am Feb 25, 2009 10:32am
Ghous,

On the touch play of the EURUSD at 1.2700 (I think the low on my broker it got down to 1.2690), where did you set your stop loss?
  • #22,480
  • Feb 25, 2009 10:36am Feb 25, 2009 10:36am
Any ideas when this JPY decline, and usd incline will stop and make some good daily pins?
Dr. C
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