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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

  • #23,181
  • Mar 6, 2009 1:42am Mar 6, 2009 1:42am
Quoting Swampy
I'm in the same trade Scott, hopefully it will blow right through the 97.00 area.

Some crazy moves happening tonight, time to OD on some coffee!
If it breaks 97.00 it seems like we could be in for a nice ride down... tons of space
  • #23,182
  • Mar 6, 2009 1:46am Mar 6, 2009 1:46am
I forgot to mention that it seems like the USD index is showing a double top. Maybe we will be seeing some dollar weakness soon...
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  • #23,183
  • Mar 6, 2009 1:54am Mar 6, 2009 1:54am
missed this trade last night - shame as had been waiting for it for a while.
break of rising wedge - pullback giving a pin/IB to short from. Stopped where expected and now a pin is forming but very early days yet. With the dollar weakness today it might not end as a pin.
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  • #23,184
  • Mar 6, 2009 2:01am Mar 6, 2009 2:01am
Quoting simoncs
missed this trade last night - shame as had been waiting for it for a while.
break of rising wedge - pullback giving a pin/IB to short from. Stopped where expected and now a pin is forming but very early days yet. With the dollar weakness today it might not end as a pin.
hi simonics, caught the same trade last nite (euro time),nice moves this mornin.got a bit lucky also as my order to take some profit was canceled due to the time limit i set(to prevent opening trades after im stopped out when im not around)so i got a few good pips before i closed some!! lol
could this pin be strong enough to stop the bears??!! looks good to me
PATIENCE... DISCIPLINE
  • #23,185
  • Mar 6, 2009 2:21am Mar 6, 2009 2:21am
I agree the U/J looks ready to go down. Maybe a bit of a retrace off that support just below but then down imho.

Take a look at the AUDNZD weekly. Don't where this will close but has good chance of being PB at strong PPZ. Looks like kind of a head and shoulders on the 4 hr too. Also what looks like divergence on the stochastic as some confirmation for the trade if the PA is there. First trouble spot is 1.2400 area.
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  • #23,186
  • Mar 6, 2009 2:40am Mar 6, 2009 2:40am
Turtle,
i mentioned this before, i think in other threads... djambazov84 said it perfectly, do this in all MT4's that u have for u to see all the fx pairs, stocks, cfds etc that are available in your MT4 (IBFX, etc):

Quote
and dont forget to click on show all where your quote list is
PROCEDURE:
open MarketWatch (in case u removed it), right click then press on "show all"


if u do that, u will see that IBFX has 31 pairs
  • #23,187
  • Mar 6, 2009 2:54am Mar 6, 2009 2:54am
Quoting johnnyonspot
I agree the U/J looks ready to go down. Maybe a bit of a retrace off that support just below but then down imho.

Take a look at the AUDNZD weekly. Don't where this will close but has good chance of being PB at strong PPZ. Looks like kind of a head and shoulders on the 4 hr too. Also what looks like divergence on the stochastic as some confirmation for the trade if the PA is there. First trouble spot is 1.2400 area.

Weekly pinbar forming on usd/jpy. off 50% fib big no 100! perhaps re-trace back to 98.00 on 4 hr. any comments.
  • #23,188
  • Mar 6, 2009 2:56am Mar 6, 2009 2:56am
Beautiful setup on Dow 4H
  • #23,189
  • Mar 6, 2009 2:56am Mar 6, 2009 2:56am
Any thoughts on the 1H pin on euro followed by the inside bar setting up now ?
  • #23,190
  • Mar 6, 2009 3:12am Mar 6, 2009 3:12am
Does anyone watching this 4H EUR/CHF pinbar?
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  • #23,191
  • Mar 6, 2009 3:22am Mar 6, 2009 3:22am
Have taken the ih pinbar on usd/chf I know short time frame but it came off the daily ppz and big number. taken two third off at 20 pips will let remainder run!
  • #23,192
  • Mar 6, 2009 3:34am Mar 6, 2009 3:34am
GBP/CHF
On the 4h and on the daily the cross seems to have easily broken the trendline of short-mid term and, more important, the strong PPZ at 1,65.
Maybe we'll se a re-test of this level and then the direction is down toward 1.61, without any important obstacles.
Watching for PA on the 4h for confirmation.
Has it sense or not?

USD/CHF
Below there is a chart. Yesterday there was an IB on the daily.
Pros: confluence of Fibo ret (not showed on the chart) & near the strong PPZ at around 1,18.
Cons: too much traffic.
I didn't play it, even if i thought it would have gone dowm to test the trendline.
Was this a nice pin bar for you?
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  • #23,193
  • Mar 6, 2009 3:39am Mar 6, 2009 3:39am
Hi all, just trying to get the hang of what to do if you have several signals at the same time.
For the more experienced ones of you:

Do you take multiple trades or just the very best one?
Do you split your risk between trades?
If you have a two usd signals do you play them both or only if you have two non related signals?
If you do play them both and they are going in opposite directions, do you still take them?

This will be more relevant to those trading on lower timeframes I guess.

thanks
max
Gravity goes both ways in forex...
  • #23,194
  • Mar 6, 2009 3:40am Mar 6, 2009 3:40am
Quoting saulynas
Does anyone watching this 4H EUR/CHF pinbar?
Yeah, got rap** on the 1H on that.
Re-entered. Hoping for a recovery.

Amis
simple....
  • #23,195
  • Mar 6, 2009 3:43am Mar 6, 2009 3:43am
Quoting scott087
My USD/JPY order was just filled at .9761 and it's down to .9720 as I type this. I'm not sure if I should take half off and set the stop to breakeven on the other half. It broke the BEOB hard for at least 40 pips.

The minor congestion area to the left has me a little concerned..
Dont get greedy, fallow your plan.

Amis
simple....
  • #23,196
  • Mar 6, 2009 3:51am Mar 6, 2009 3:51am
I've always been having problem of profit taking or traling profit , I know its easy to enter but hard to exit, i trade daily chart and higher only,
Could somebody enlighten me on this? thans
No Money, No Honey.....
  • #23,197
  • Mar 6, 2009 3:54am Mar 6, 2009 3:54am
Quoting saulynas
Does anyone watching this 4H EUR/CHF pinbar?
Hi Saulynas,

This is how I see the eur/chf at the moment. This pair is overall in a big downtrend. Zoom out to the daily or weekly and have a look. I've marked on my first chart the weekly and daily ppz's as I see them. Todays price action has broken below a weekly ppz, but if you look to the left on the chart it would have to compete with all of thos bar lows if it was to make it back to the 1.4700 level. Now that isn't to say it won't. It has a bit of divergence on MACD to help it as well.

What I would like to see is how I've marked out price on the second chart. This would be a retest of the weekly ppz from below, with some confirming price action to then go short, keeping the trade in the direction of the overall trend, and with plenty of space for price to move into.

That said, this trade will probably work out. I'd be fairly quick to move my stop to BE though if I was taking this one.

Best,
Chris
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  • #23,198
  • Mar 6, 2009 3:57am Mar 6, 2009 3:57am
Quoting nesh1069
I've always been having problem of profit taking or traling profit , I know its easy to enter but hard to exit, i trade daily chart and higher only,
Could somebody enlighten me on this? thans
It all depends entirely what kind of a trader you are, but generally speaking you should take some off the table at the first support/resistance. This could be 20 pips away or 200 pips away, and holds true on every timeframe.

How much of the volume you pull out is discretionary and your MM rules should answer that. What I do with trades off the daily is to move my stop to BE as we hit 50+ pips roughly and then look to take half of my trade volume out at the first sign of support/resistance as the case maybe. Feel free to find your own personal comfort zone.

Regards,
Ghous.
I believe . . .
  • #23,199
  • Mar 6, 2009 4:02am Mar 6, 2009 4:02am
Hi ghous,
happy to see you again

What do you think about my two charts posted above?
What crosses are you watching with more interest in these days?
  • #23,200
  • Mar 6, 2009 4:11am Mar 6, 2009 4:11am
Quoting bakko85
Hi ghous,
happy to see you again

What do you think about my two charts posted above?
What crosses are you watching with more interest in these days?
Hi Bakko,

I am pretty much out for now, been focusing on the higher tfs only and nothing on the daily was worth gambling on the first Friday of the month.

The analysis were cool Bakko, well done Just make sure you don't put on the accelerator till we move from downtown to the highway.

Regards,
Ghous.
I believe . . .
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