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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

  • #22,821
  • Mar 2, 2009 7:00pm Mar 2, 2009 7:00pm
Quoting isufreak24
For me personally, I can't stand the psychological difference between demo and live.
Mbqb11, sorry I was actually referring to something mentioned by isufreak.

So you like to go to BE and then use your two bar stop most of the time? Yea I need to keep some records to help me decide which way to go, cause my trade selection has been really improving, but that is only part of it.
"Whether you think you can or can't, you're right." Henry Ford
  • #22,822
  • Mar 2, 2009 7:02pm Mar 2, 2009 7:02pm
Quoting Scot Pippin'
Mbqb11, sorry I was actually referring to something mentioned by isufreak.

So you like to go to BE and then use your two bar stop most of the time? Yea I need to keep some records to help me decide which way to go, cause my trade selection has been really improving, but that is only part of it.
No I use a variety of trailing stops or a take profit based on each individual situation.

Yes trade selection is a huge part of it. Just keep at it, keep good records and don't be afraid to really judge your own trading

Best of luck

Mike
  • #22,823
  • Mar 2, 2009 7:27pm Mar 2, 2009 7:27pm
Hi Guys

This morning i entered a what looked like a nice 4hr pinbar ( sorry i cannot post chart ) but it failed and stop hit ( i,ii survive ).Can someone pls comment.

Ta Gerard
  • #22,824
  • Mar 2, 2009 7:34pm Mar 2, 2009 7:34pm
Quoting raczekfx
Some recent SRs on dj futures...

.

Why do you want to constantly bet on a strong DJ when it's been thrown abt by the major companies it consists of??
I believe . . .
  • #22,825
  • Mar 2, 2009 7:51pm Mar 2, 2009 7:51pm
Quoting ghous
Why do you want to constantly bet on a strong DJ when it's been thrown abt by the major companies it consists of??
I am personally liking the bullish divergence on Weekly. That would be about my strongest bullish case for DJ so far.
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #22,826
  • Edited 8:29pm Mar 2, 2009 7:53pm | Edited 8:29pm
anybody here watching this pair? it could take off.
  • #22,827
  • Mar 2, 2009 9:59pm Mar 2, 2009 9:59pm
Quoting dunningduke
anybody here watching this pair? it could take off.
We might wanna wait for BOC rate statement before making decision on this pair.
  • #22,828
  • Edited 10:33pm Mar 2, 2009 10:20pm | Edited 10:33pm
Quoting ghous
Why do you want to constantly bet on a strong DJ when it's been thrown abt by the major companies it consists of??
Not so much strong, but rather its behavior around certain areas of SRs. Besides when everyone throws a towel... can we say 'we hit the bottom'? Wonder what some people who traded equities for 20years + have to say about that...?

and this is why...

I longed all these plus gj at 6pm est and based on anticipated bounce in dow futures after it posted 300ps drop today.
I promise, I won't mention dow futures here anymore....
.
Attached Images
  • #22,829
  • Mar 2, 2009 10:25pm Mar 2, 2009 10:25pm

good!

Quoting raczekfx
I longed all these plus gj at 6pm est and based on anticipated bounce in dow futures after it posted 300ps drop today.

.
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #22,830
  • Mar 2, 2009 10:29pm Mar 2, 2009 10:29pm
Rac,
Please dont stop posting your method dealing with S/R zones and DJ futures. I am just now starting to get the hang of it and its awesome when I do something and then see you post about the same thing I have done. Just builds my confidence more.
  • #22,831
  • Mar 2, 2009 10:37pm Mar 2, 2009 10:37pm
Quoting darewood
Rac,
Please dont stop posting your method dealing with S/R zones and DJ futures. I am just now starting to get the hang of it and its awesome when I do something and then see you post about the same thing I have done. Just builds my confidence more.
My apologies darewood, but a promise is a promise.. .
Let's concentrate on PA instead, which is much more reliable imho anyways..
  • #22,832
  • Mar 2, 2009 10:47pm Mar 2, 2009 10:47pm
Quoting raczekfx
My apologies darewood, but a promise is a promise.. .
Let's concentrate on PA instead, which is much more reliable imho anyways..
He's not the only one who love you DJ charts, me too. Hopefully, you still post your zone trade as you nail the s/r very well Rac. s/r are easy but to identify the good one like you did still puzzled me, so please do post charts Rac as people who really want to learn will get a chance to learn from examples Thanks!
  • #22,833
  • Mar 2, 2009 11:01pm Mar 2, 2009 11:01pm
Quoting pakiestra
I don't know, maybe I'm totally wrong. I can't see BUOB on the WEEKLY EUR/GBP but instead I can see it on the DAILY. I recon daily and weekly closes shouldn't differ so much as 4HRS.
Secondly on the daily you are entirely right, there is strong S/R line at 0.9085 plus in the same place there is confluence of 38 and 50 Fibs retracement.
That is just my newbie way of analysis.Attachment
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Yeah, my bad. I meant the daily.
  • #22,834
  • Mar 2, 2009 11:10pm Mar 2, 2009 11:10pm
Hi Scot Pippin'

I'm struggling with this issue of money management myself. I am also taking partial profit at the first area of resistance. However, the next issue is how do we define partial in the era of microlots? In Feb partial for me meant 50% of the position. However I wasn't satisfied with those results. In March I want to experiment with taking off 80 or 90% off the position at the first profit target. This way I feel like I've taken most of the money off the table and still have something at stake, so if it runs I'll feel good and if it doesn't it didn't do much damage since I'll have my stop at breakeven anyways and 10-20% of the position won't hurt as much. Just another idea...we'll see how it works.

Rubin.


Quoting Scot Pippin'
I have been trying to take partial profit and let the rest run for just awhile. It seems I get up a few percent until the inevitable full position loss comes. I have been taking partial profit at the first area of resistance, rather than 1 to 1. Anyone have any thoughts as to which profit taking is better suited for PA?
  • #22,835
  • Mar 2, 2009 11:12pm Mar 2, 2009 11:12pm
Quoting johnnyonspot
Yeah, my bad. I meant the daily.
I think you were right in your first post, big PPZ there, no play. Was a breakout play today but I didn't play it, was to close to that mess.
  • #22,836
  • Mar 3, 2009 3:02am Mar 3, 2009 3:02am
Quoting raczekfx
Not so much strong, but rather its behavior around certain areas of SRs. Besides when everyone throws a towel... can we say 'we hit the bottom'? Wonder what some people who traded equities for 20years + have to say about that...?

and this is why...

I longed all these plus gj at 6pm est and based on anticipated bounce in dow futures after it posted 300ps drop today.
I promise, I won't mention dow futures here anymore....
.
I don't know what instigated you to promise yourself something like that Mark. Hope it was'nt me...

I know you follow the fundies too, and since the US companies' downfall was all over the news (Bloomberg for instance) which is what probably resulted in the DJ drop. All this time you wanted to bet on a stronger DJ, i know you have that magic wand that just does'nt let you loose big but I wanted to know the logic behind your anticipation for my personal correction.

We love your DJ charts Dude, is'nt there a way you can break a proimise

Regards,
Ghous.
I believe . . .
  • #22,837
  • Mar 3, 2009 3:03am Mar 3, 2009 3:03am
Im in short off of GBP/JPY 1 hr pin.....

Targeting 100 pips...
Dr. C
  • #22,838
  • Mar 3, 2009 3:12am Mar 3, 2009 3:12am
Quoting cvcamper
Im in short off of GBP/JPY 1 hr pin.....

Targeting 100 pips...
Take it easy bro.

We want to be waiting for the A+ ones keeping in mind that location is more important for even a perfect looking pin bar, this one boasts a resplendant shape, but fails the location test IMO.



Regards,
Ghous.
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I believe . . .
  • #22,839
  • Mar 3, 2009 3:18am Mar 3, 2009 3:18am
Quoting ghous
Take it easy bro.

We want to be waiting for the A+ ones keeping in mind that location is more important for even a perfect looking pin bar, this one boasts a resplendant shape, but fails the location test IMO.



Regards,
Ghous.
Ghous - on location - i have nose on R1 and 78.6 fib of prior down move ..
but this pa is acting funny so you may be right
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  • #22,840
  • Mar 3, 2009 3:22am Mar 3, 2009 3:22am
Hi ya,

Just wondering if any of the pros in here could tell me when you look for S/R lines, PPZ, and Fibo's..

1. what TF would you actually be leaving those signals on your chart if you do?
2. the boxed areas for PPZ we see in your charts do you leave them on your charts at all times?
3. do you actually leave these lines on your charts at all times?
4. or does this all add to much clutter to the charts?

BIG thanks in advance..

Adrian
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