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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

  • #23,481
  • Mar 11, 2009 1:31pm Mar 11, 2009 1:31pm
Quoting bakko85
Nice charts! I'll play it in my demo to see how this trade will develop..
What TP? I see first TP at 2,48 like you..then a minor PPZ at about 2,41..but it is a loooot of space betweem this target and the bottom of the 2-day pin..
2.4 could be the next major stop...

For now let's just sit on our buts and wait for 2.48 shall we?
I believe . . .
  • #23,482
  • Mar 11, 2009 1:35pm Mar 11, 2009 1:35pm
Quoting ghous
2.4 could be the next major stop...

For now let's just sit on our buts and wait for 2.48 shall we?
Sure, i've to remember not to be too greedy
Ghous, another question. Do you cancel your order at the end of the day or not?
  • #23,483
  • Mar 11, 2009 1:36pm Mar 11, 2009 1:36pm
...

(Plan to take some off at the Tp level mentioned)
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I believe . . .
  • #23,484
  • Mar 11, 2009 1:38pm Mar 11, 2009 1:38pm
Quoting ghous
...
I don't think you have too much to worry about there. That was a nice spike on Yen a few minutes ago.
Bundy's status today: "Waiting..."
  • #23,485
  • Mar 11, 2009 1:43pm Mar 11, 2009 1:43pm
Quoting bundyraider
I don't think you have too much to worry about there. That was a nice spike on Yen a few minutes ago.
I am bearish on the long term yen since my Cj short...
I believe . . .
  • #23,486
  • Mar 11, 2009 1:45pm Mar 11, 2009 1:45pm
Quoting bakko85
Sure, i've to remember not to be too greedy
Ghous, another question. Do you cancel your order at the end of the day or not?
Mostly yes,

But since the Eur/Nzd looks a good long term candidate I'll keep this puppy enetertained for a while.
I believe . . .
  • #23,487
  • Mar 11, 2009 1:48pm Mar 11, 2009 1:48pm
Quoting ghous
Eur/Nzd...

Double top, divergence, 2 day great looking pin.

Quick question for you Ghous. If the current day bar doesnt break the 48HR PB, is the trade still valid?

Thanks

... BWise ...
  • #23,488
  • Mar 11, 2009 1:59pm Mar 11, 2009 1:59pm
Quoting BWise
Quick question for you Ghous. If the current day bar doesnt break the 48HR PB, is the trade still valid?

Thanks

... BWise ...
i'll be holding to the order, even if the daily bar does'nt hit it. some support at 2.51 was expected but since I have the weekly looking down at me confidently I still think it's a pretty valid take given that we have divergence and a 2 day pin on the daily.

Regards,
Ghous.
I believe . . .
  • #23,489
  • Mar 11, 2009 2:40pm Mar 11, 2009 2:40pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Any thoughts on this 4-hour Pin forming?... Possibly pre-empting it a bit as there is 20 mins to go on my feed before it closes.

It's a bit busy to the left where price has made its way down - but it is off a nice PPZ at 134.00 (also, if one checks out the 5-min chart, the pin is a double-bottom).

Thought for initial target at 136.00.


Magnus
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  • #23,490
  • Mar 11, 2009 3:13pm Mar 11, 2009 3:13pm
Nice trade Bakko, hope you cashed out some pips...I passed on this pin yesterday.

What does everyone think of the 8HR Pin that formed on GBP/AUD (8am to 4pm candle). I think it's quite a good one...at swing low and a long enough nose...

Sorry about the chart inside the Word attachment...I think I have the worst charts of all of you thanks to MB Trading...


Quoting bakko85
Someone can explain these movements on yen crosses???

(I'm on the daily CHF/JPY pin bar..yes it's not a perfect pin but yesterday i liked it )
Attached File(s)
File Type: doc GBP.AUD.3.11.09.doc   99 KB | 560 downloads
  • #23,491
  • Edited 3:46pm Mar 11, 2009 3:33pm | Edited 3:46pm
Quoting ghous
Eur/Nzd...

Double top, divergence, 2 day great looking pin.
Excellent call!

Took it for 210.

One thing I have learned in part by trial & error and by looking at others charts is an opportunity might not "exist" on my chart but is still a valid trade. This seems to be the case with my brokers charts vs mt4 charts.
  • #23,492
  • Mar 11, 2009 3:58pm Mar 11, 2009 3:58pm
Quoting ghous
2.4 could be the next major stop...

For now let's just sit on our buts and wait for 2.48 shall we?
Hi Ghous,
I'm just....
This pair (eur/nzd) is quite specific with an hourly range of couple of hundred pips. Just of practical intereset, does the 10 pip breakout rule apply to such a pair as well?
Would be grateful for to hear what yout think.
Thank you
Regards
  • #23,493
  • Mar 11, 2009 3:59pm Mar 11, 2009 3:59pm
Quoting Fx_Genius
Excellent call!

Took it for 210.

One thing I have learned in part by trial & error and by looking at others charts is an opportunity might not "exist" on my chart but is still a valid trade. This seems to be the case with my brokers charts vs mt4 charts.
Wow, fierce drop on that one
  • #23,494
  • Mar 11, 2009 4:50pm Mar 11, 2009 4:50pm
Quoting artov
I keep a watch on that one too, but still more than an hour to go for me on the fxpro chart.

Look at the 1hr pb on crude oil (fx pro), I missed that but beautiful pinbar trade there.
Where is crude on fxpro? What is the symbol and under what category, i.e., CFD, Futures, etc.? Futures I am guessing, but which symbol?
  • #23,495
  • Mar 11, 2009 4:51pm Mar 11, 2009 4:51pm
Quoting johnnyonspot
Where is crude on fxpro? What is the symbol and under what category, i.e., CFD, Futures, etc.? Futures I am guessing, but which symbol?
#clj9

if you just highlight with your cursor it will tell you what each security is
  • #23,496
  • Mar 11, 2009 4:56pm Mar 11, 2009 4:56pm
Here is a terrible trade I took last night and just wanted everyone to learn from it what I did. There was a decent sized BEOB on the 4hr AUDCHF. Had the confluence of a round number and 61.8 Fib, swing high.

I recently had 3 wins in a row and was itching to trade, thought I could be slick and snag 10 pips out of this trade. 10 friggen pips, look there is no space it went 7 pips and reversed in the area I had a TP at but missed by 2 pips.

Why would I ever risk money from my account on 10 pips! The most important thing I learned from this is that you need space and that these PPZ are ZONES not lines. There are so many better trades then this 10 pip garbage out there. Some that happened today.

I am ranting right now because I am upset with myself, but I am taking this as al earning experience. Remember space is so key. Location and space first. Then PA Bar shapes. Then confluence with fibs and ema's. Dont risk any money on these bogus 10 pip trades it is not worth it take my advice even though I am a beginner.
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  • #23,497
  • Mar 11, 2009 5:08pm Mar 11, 2009 5:08pm
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Just for demos sake
  • #23,498
  • Mar 11, 2009 5:42pm Mar 11, 2009 5:42pm
Location was a hassle, but I'd have skipped an outside bar that is only a small amount larger than the previous bar too. Closing below the previous bar would be a helpful as well.

Take good note of your outside bar setups and the position of their closes, both relative to themselves and to the previous bars. (for future reference, you'll learn the best ones)

I'm also keen on outside bars with extraordinary range compared to the other bars, when used as reversals. Shows significant sentiment change. (I play a retrace of these mostly)

Just some rules I use personally that might be worth observing.

As you pointed out, that peak you are drawing your PPZ from had a very high chance of stopping the move after a large up move like that had eclipsed it. (From my own experience.)


Quoting dmc
Here is a terrible trade I took last night and just wanted everyone to learn from it what I did. There was a decent sized BEOB on the 4hr AUDCHF. Had the confluence of a round number and 61.8 Fib, swing high.

I recently had 3 wins in a row and was itching to trade, thought I could be slick and snag 10 pips out of this trade. 10 friggen pips, look there is no space it went 7 pips and reversed in the area I had a TP at but missed by 2 pips.

Why would I ever risk money from my account on 10 pips! The most important thing I learned...
Bundy's status today: "Waiting..."
  • #23,499
  • Mar 11, 2009 6:24pm Mar 11, 2009 6:24pm
I took this BUOB, which was fine, but I should have placed my entry further up due to the PPZ directly above. I thought this was a signal that this PPZ would be pierced and broken since the BUOB was right at it, but either should have placed entry further up, past the PPZ, or passed altogether and waited for a retrace to the PPZ before entering long. I am still in this trade so far and it could still go my way. Also took two other bad trades last night, in ej and nj, both shorts, but got out at b/e on both.
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  • #23,500
  • Mar 11, 2009 6:44pm Mar 11, 2009 6:44pm
Hey everyone - I am new to this type of price action analysis, I ascribe to the Jacko method of trading, but am trying to use pin and inside bars as methods of refining my entries.

I picked up on this 4H pin (not a great example) at the double top on the A/U.

Anyone else in this trade or is it just me?
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