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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

  • #26,361
  • Apr 7, 2009 5:06am Apr 7, 2009 5:06am
Quoting albchr
I have one possible answer Ghous.

If you seek, listen to, accept, and Practice Practice PRACTICE the "Wisdom" in this thread, you might just make millions..

Morning everyone..
Morning Chris,

Answer one question to begin your day with...

you're practicing practicing PRACTICING...for wisdom or millions?

What you intend to do is what completes you, wisdom IMO has nothing to do with riches if you're seeking to obtain it...

On the contrary if you're using wisdom to reach to millions...is that acually wisdom at all?

Something to think abt guys, and Jon YES let's do it!
I believe . . .
  • #26,362
  • Apr 7, 2009 5:09am Apr 7, 2009 5:09am
Quoting albchr
Good point.

I guess it's all how you look at it though. For me, a wise man seeks to help others. Millions would allow the time and flexibility to reach many more "others"...
i agree,i have no problem with MAKING millions i have a problem with KEEPING millions.
anyway back to the thread.my feed(not at home)showed beobs over most pairs yesterday but here i see more pins?? anyone take these trades?
(trade on chart is demo,i took the beob break on my live acc.)
jon
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PATIENCE... DISCIPLINE
  • #26,363
  • Apr 7, 2009 5:15am Apr 7, 2009 5:15am
Quoting ghous
Morning Chris,

Answer one question to begin your day with...

you're practicing practicing PRACTICING...for wisdom or millions?

What you intend to do is what completes you, wisdom IMO has nothing to do with riches if you're seeking to obtain it...

On the contrary if you're using wisdom to reach to millions...is that acually wisdom at all?

Something to think abt guys, and Jon YES let's do it!
I seek wisdom for myself. The millions will take care of themselves. But IMHO, wisdom not not shared is both a waste and not wise. The millions are simply a vehicle to reach more to share wisdom with. The wisdom is the wealth. The millions just tools.
Ghost Rider - WWTBMD?
  • #26,364
  • Apr 7, 2009 5:28am Apr 7, 2009 5:28am
Quoting stoli7188
Talk about the momentum (sp?)

.5800 hit, half closed, half at BE with tp at .5655

I am still developing my exit method but there is nothing wrong with getting to BE, especially when against the trend....
Got some profit on NZD/USD also and moved stops up to lock in at least B/E overall. Looking for 0.5670 next.

Stoli, Glad I've 'motivated' you! LOL

Josh
  • #26,365
  • Apr 7, 2009 5:32am Apr 7, 2009 5:32am
Quoting Jduester
Got some profit on NZD/USD also and moved stops up to lock in at least B/E overall. Looking for 0.5670 next.

Stoli, Glad I've 'motivated' you! LOL

Josh
im also in on this trade but from a beob on my feed again, i have .5700-5720 as my next problem zone
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PATIENCE... DISCIPLINE
  • #26,366
  • Apr 7, 2009 5:35am Apr 7, 2009 5:35am
Quoting g_j_hook@yah
i agree,i have no problem with MAKING millions i have a problem with KEEPING millions.
anyway back to the thread.my feed(not at home)showed beobs over most pairs yesterday but here i see more pins?? anyone take these trades?
(trade on chart is demo,i took the beob break on my live acc.)
jon
I was watching both of these as well. Sadly, I took neither but I'm still tempted as I think they each have a little more room to go....
Ghost Rider - WWTBMD?
  • #26,367
  • Apr 7, 2009 5:35am Apr 7, 2009 5:35am
how about no leverage, -100 s/l
and trade bigger times like daily? and hold it for a week.... then an hour or so not watching may not matter...

this is just my thinking...
I'm looking at H1 chart now and it basically moved nothing in past hour.

Quoting Lou
Except for about 6 weeks out of the year I can only manipulate my trades during the late Sydney to mid Asian sessions and then again, just prior to the US session.
So that means most price action occurs when I can only watch or am sleeping. Of course not able to move SL to BE.

Some of the strategies I have thought of:
Use Fibs, MAs , PPZs as profit targets and stop placement areas
Use an arbitrary ratio... say 200 pip Tgt and 100 pip SL
Use no Tgt or SL ; use no Tgt but have a SL
Use some kind of calculation regarding the Ave Daily Range or ATR...
  • #26,368
  • Apr 7, 2009 5:44am Apr 7, 2009 5:44am
Quoting Lou
Except for about 6 weeks out of the year I can only manipulate my trades during the late Sydney to mid Asian sessions and then again, just prior to the US session.
So that means most price action occurs when I can only watch or am sleeping....
Sounds like you are on the right track, with getting a list of different exit strategies that will work in your given unique situation. Once you get a list, then it's just a matter of testing it on a number of trades that you've taken. Then try using that exit strategy exactly on demo for a few months, so you know if you're comfortable with it and see if you're results are what you expected. That is the path I am taking, and it seems to be getting nods of approval from the long-timers on this thread. Good luck and let us know how it works out.

Josh
  • #26,369
  • Apr 7, 2009 6:33am Apr 7, 2009 6:33am
Quoting g_j_hook@yah
im also in on this trade but from a beob on my feed again, i have .5700-5720 as my next problem zone
Nice catch guys.

Nice bearish divergence as well.
Attached Images
Indicators show the past. Price Action "Indicates" the future.
  • #26,370
  • Apr 7, 2009 7:18am Apr 7, 2009 7:18am
Quoting jarroo
Nice catch guys.

Nice bearish divergence as well.
hope you pinbar guys are happy with your 50 pips EXTRA!!!
PATIENCE... DISCIPLINE
  • #26,371
  • Apr 7, 2009 7:22am Apr 7, 2009 7:22am
Quoting g_j_hook@yah
hope you pinbar guys are happy with your 50 pips EXTRA!!!
You copy that Jarroo?!? This stupid guy thinks he can mock us

lol!

...
I believe . . .
  • #26,372
  • Apr 7, 2009 7:24am Apr 7, 2009 7:24am
Quoting ghous
You copy that Jarroo?!? This stupid guy thinks he can mock us

lol!

...
thatlle be the day
PATIENCE... DISCIPLINE
  • #26,373
  • Apr 7, 2009 7:37am Apr 7, 2009 7:37am
Quoting g_j_hook@yah
thatlle be the day
I believe . . .
  • #26,374
  • Apr 7, 2009 7:57am Apr 7, 2009 7:57am
I'm new to this thread and would like to know if anyone is watching GBP?USD pinbar on the 4Hr charts?
  • #26,375
  • Apr 7, 2009 8:10am Apr 7, 2009 8:10am
Quoting 68eagle
I'm new to this thread and would like to know if anyone is watching GBP?USD pinbar on the 4Hr charts?
I'm not seeing it?

Edit: I'm a newbie as well but know the nose needs to be much larger and usually pointing in the direction of the trend thats hopefully being reversed. Check out the tutorials in the original post.
  • #26,376
  • Apr 7, 2009 8:17am Apr 7, 2009 8:17am
Is this not a PinBar?
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  • #26,377
  • Apr 7, 2009 8:22am Apr 7, 2009 8:22am
Quoting 68eagle
I'm new to this thread and would like to know if anyone is watching GBP?USD pinbar on the 4Hr charts?
I like it
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I believe . . .
  • #26,378
  • Apr 7, 2009 8:22am Apr 7, 2009 8:22am
Quoting 68eagle
Is this not a PinBar?
Nice false break of 2 inside bars and the mother candle. Up we go.
Those that can, do, those that can't, teach.
  • #26,379
  • Apr 7, 2009 8:25am Apr 7, 2009 8:25am
What broker are you guys using? IBFX looks completely different for me. Maybe I should go ahead and get another feed from someone.
  • #26,380
  • Apr 7, 2009 8:26am Apr 7, 2009 8:26am
gbpjpy has a similar pinbar as gbpusd....
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