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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

  • #24,781
  • Mar 25, 2009 9:59am Mar 25, 2009 9:59am
Quoting raczekfx
This is too much......
Bankers must be reading our dear thread.

As soon as dow hit solid resistance, they all sold yen crs and $ based crosses... (shakeout...)

At least we know when to take partial or total profit.
It will be interesting to see how the day progresses.
another push higher in fiber and cable and lower close or
run for 3750 ?
.
Agreed.

Something's definitely on the stove out there.
I believe . . .
  • #24,782
  • Mar 25, 2009 10:00am Mar 25, 2009 10:00am
Quoting jarroo
Its at a swing low just not very deep. Is it an "A" trade? Probably not.

1st half 73 pips / 2nd half at break even.
Good Lord,

This guy knows his stuff

I believe . . .
  • #24,783
  • Mar 25, 2009 10:11am Mar 25, 2009 10:11am
HI Guys;

I am short EU (don't ask), two mini lots, entries at 534 and 518. Now what!! Should i close with loss or wait? SL at 650.

Thanks for your advise;

Seb
  • #24,784
  • Mar 25, 2009 10:14am Mar 25, 2009 10:14am
Quoting seboileroom
HI Guys;

I am short EU (don't ask), two mini lots, entries at 534 and 518. Now what!! Should i close with loss or wait? SL at 650.

Thanks for your advise;

Seb
Can you show a chart and why you entered ?
Indicators show the past. Price Action "Indicates" the future.
  • #24,785
  • Mar 25, 2009 10:16am Mar 25, 2009 10:16am
Quoting seboileroom
HI Guys;

I am short EU (don't ask), two mini lots, entries at 534 and 518. Now what!! Should i close with loss or wait? SL at 650.

Thanks for your advise;

Seb
Lol it's like I can almost see you cringing

Relax, we haven't lost everything,

Leave your SL above the three bar high and take some time off,

Go get a glass of water and take a trip outside and lemme know how's the weather.

Panic is almost certainly going to end this episode in a disaster...
I believe . . .
  • #24,786
  • Mar 25, 2009 10:19am Mar 25, 2009 10:19am
Quoting ghous
Lol it's like I can almost see you cringing

Relax, we haven't lost everything,

Leave your SL above the three bar high and take some time off,

Go get a glass of water and take a trip outside and lemme know how's the weather.

Panic is almost certainly going to end this episode in a disaster...
LOL.. I was thinking the same..I'm on this trade like you ghous..
  • #24,787
  • Mar 25, 2009 10:20am Mar 25, 2009 10:20am
Quoting seboileroom
HI Guys;

I am short EU (don't ask), two mini lots, entries at 534 and 518. Now what!! Should i close with loss or wait? SL at 650.

Thanks for your advise;

Seb
Oh! wait a bit...

It wasn't the daily IB trade? I'd second Jarroo's question then...
I believe . . .
  • #24,788
  • Mar 25, 2009 10:20am Mar 25, 2009 10:20am
DBHLC, on Daily;
Attached Image (click to enlarge)
Click to Enlarge Name: james16 d.gif Size: 9 KB
  • #24,789
  • Mar 25, 2009 10:29am Mar 25, 2009 10:29am
That is not a DBHLC. The highs of the candles must match and the second one must close below the entire previous candle.
  • #24,790
  • Mar 25, 2009 10:31am Mar 25, 2009 10:31am
Quoting ghous
Lol it's like I can almost see you cringing

Relax, we haven't lost everything,

Leave your SL above the three bar high and take some time off,

Go get a glass of water and take a trip outside and lemme know how's the weather.

Panic is almost certainly going to end this episode in a disaster...
LOL thats a classic
while the father of forex is PA the mother is certainly patience mixed with proper MM...........key word proper and makes trading stress free and fun again
Don't chase the market, Let the market come to you
  • #24,791
  • Mar 25, 2009 10:32am Mar 25, 2009 10:32am
Quoting seboileroom
DBHLC, on Daily;
Joeb is correct about the DBHLC. I would get out with a loss and re-group.
Indicators show the past. Price Action "Indicates" the future.
  • #24,792
  • Mar 25, 2009 10:33am Mar 25, 2009 10:33am
You are right;

the first and third one had matching highs; i thought the third had a lower close but it does not...
  • #24,793
  • Mar 25, 2009 10:37am Mar 25, 2009 10:37am
Quoting seboileroom
HI Guys;

I am short EU (don't ask), two mini lots, entries at 534 and 518. Now what!! Should i close with loss or wait? SL at 650.

Thanks for your advise;

Seb
price is in the middle of the range.
This is what I would do if I didn't have a clue what to do next.
1. close right away
2. hedge the order and

when price approaches 3718, sell the long leg with tight stop and vice versa
when price approaches 3416, sell the short leg with tight stop.

I do it all the time in a ranging market, collecting points between ppz, but this topic is beyond what's being discussed here.
Whatever you do, I hope it works out for you just fine. Personally I'm leaning towards 34 for today.
Attached Image
  • #24,794
  • Mar 25, 2009 10:39am Mar 25, 2009 10:39am
Quoting raczekfx
This is too much......
Bankers must be reading our dear thread.

.
agreed. we'll have to start using pig latin to communicate
"Don't trade to trade . . . trade to win." - James16
  • #24,795
  • Mar 25, 2009 10:41am Mar 25, 2009 10:41am
Thank you all, you have been a great help;

Seb
  • #24,796
  • Mar 25, 2009 11:05am Mar 25, 2009 11:05am
Quoting raczekfx
price is in the middle of the range.
This is what I would do if I didn't have a clue what to do next.
1. close right away
2. hedge the order and

when price approaches 3718, sell the long leg with tight stop and vice versa
when price approaches 3416, sell the short leg with tight stop.
Hi raczek, in the second case, why should u sell at 3416, this is close to the sup line of the range, shouldn't u be buying it..... Sorry if i didn't understand. Also, by the long leg u mean the bullish bar?

THNX;
Seb
  • #24,797
  • Mar 25, 2009 11:13am Mar 25, 2009 11:13am
Quoting HipsterPipster
I personally am holding out for it. A nice thrust and temporary exhaustion should get us there. 1.3825 looks very appealing.
Still looking long. Here is what I see and am watching. A little speculation shall we say..... Daily bullish flag developing down to ~1.3350, then long to ~1.3850 where I will be watching for shorts.
But then again, I could be completely wrong. Trade what you see.
Attached Image (click to enlarge)
Click to Enlarge Name: eud.gif Size: 29 KB
  • #24,798
  • Mar 25, 2009 11:15am Mar 25, 2009 11:15am
Quoting seboileroom
HI Guys;

I am short EU (don't ask), two mini lots, entries at 534 and 518. Now what!! Should i close with loss or wait? SL at 650.

Thanks for your advise;

Seb
Seb I mean this with the very best intentions, that you shouldn't be trading real money. You need to go back and follow James advice outlined in post 1, about demoing. If you enter a trade and then need to come to ask what to do with it, these are things that need to be dealt with on demo account. We ALL want to see you succeed here and have been through it. The best way to come out with a fighting chance is to listen to the big guy

Take care but and keep asking questions though

MIke
  • #24,799
  • Mar 25, 2009 11:17am Mar 25, 2009 11:17am
Quoting mbqb11
Seb I mean this with the very best intentions, that you shouldn't be trading real money. You need to go back and follow James advice outlined in post 1, about demoing. If you enter a trade and then need to come to ask what to do with it, these are things that need to be dealt with on demo account. We ALL want to see you succeed here and have been through it. The best way to come out with a fighting chance is to listen to the big guy

Take care but and keep asking questions though

MIke
Thy best advise Seb.
Indicators show the past. Price Action "Indicates" the future.
  • #24,800
  • Mar 25, 2009 11:18am Mar 25, 2009 11:18am
Quoting seboileroom
Hi raczek, in the second case, why should u sell at 3416, this is close to the sup line of the range, shouldn't u be buying it..... Sorry if i didn't understand. Also, by the long leg u mean the bullish bar?

THNX;
Seb
By sell, I meant 'close' the short leg of your trade. By long leg, I meant your long position, you'd opened.
I think, I had a post with attachment in this thread somewhere how I do it. I believe Habeeb also mentioned it before.
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