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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

  • #26,621
  • Apr 8, 2009 5:21pm Apr 8, 2009 5:21pm
Quoting Jduester
I can remember Bundy saying that at some point a trader must be able to pass on trades that would make them money, because it doesn't follow what they are trying to do through their plan. I think this has a reasonable probability to get to 1.34. But the space and location doesn't fit for me. Comes back to everyone trades differently... some will win, some B/E, some lose (assuming pin breaks).

Josh
When your not as comfortable in the first place, it just makes it more stressful when you see it go against you.

I'm about less stress.
Bundy's status today: "Waiting..."
  • #26,622
  • Apr 8, 2009 5:22pm Apr 8, 2009 5:22pm
Quoting ljr
Hi All

I quite like the Daily pin on NzdJpy.

Good formation, long(ish) tail and small body

Its with the recent up trend and touches on the 50% Fib from the swing low on 30/03 to swing high on 06/04.

To me it looks like price has broken through resistance around the 5675 area and is testing it from above.

Any comments?

Attachment
ditto, first T/P at 58.93. Got my EA set to go to BE on both positions at +30. NZD/USD also has a pin at a swing low. Also, the location on the E/J is great with a fib and a monthly PPZ at 132. Bar isn't a legit pin though.
  • #26,623
  • Apr 8, 2009 5:22pm Apr 8, 2009 5:22pm
Quoting raczekfx
That's the plan, but there is still that little voice whispering, we're going to revisit 3800 one more time....

damn elves... hiding everywhere ...

i'll be honest. I'm taking it based on lower tf. but tp is set @ 3348.
  • #26,624
  • Apr 8, 2009 5:23pm Apr 8, 2009 5:23pm
Gave a candle but not a perfect one ...reason I wont be taking this is because of the size of the candle compare to the sell off we had over the previous days. What I see from this is that price may go up but it does not look good enought for me to put my money in it...

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  • #26,625
  • Apr 8, 2009 5:26pm Apr 8, 2009 5:26pm
Quoting rustyjeff
i'll be honest. I'm taking it based on lower tf. but tp is set @ 3348.

to clarify.
I would like the 30 area but i've seen too many trades go by waiting for the perfect entry.

no. I dont use normal risk as I said my prefered entry is lower. but i am willing to risk 0.25% to have a look.

thats what they call it in poker eh Mike...
  • #26,626
  • Apr 8, 2009 5:27pm Apr 8, 2009 5:27pm
I really like the NZDJPY Daily Pinbar.

It appears to be a break out from the weekly PPZ around 57.00, and then pull back to it, with a nice looking Pin bar bouncing off of it.

My only worry is that the other JPY pairs look more indecisive.
  • #26,627
  • Apr 8, 2009 5:28pm Apr 8, 2009 5:28pm
Quoting raczekfx
That's the plan, but there is still that little voice whispering, we're going to revisit 3800 one more time....

damn elves... hiding everywhere ...
i hear it too don't worry , unless were all crazy
  • #26,628
  • Apr 8, 2009 5:28pm Apr 8, 2009 5:28pm
Ill pass on the E/D daily pin (if it ends as one) as its heading into 3300, pivot zone, 150ema and fib confluence!!, It has its work cut out, maybe a buy stop above 3300?
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Economists have forecast 9 out of the last 5 recessions
  • #26,629
  • Apr 8, 2009 5:29pm Apr 8, 2009 5:29pm
Quoting rustyjeff
to clarify.
I would like the 30 area but i've seen too many trades go by waiting for the perfect entry.

no. I dont use normal risk as I said my prefered entry is lower. but i am willing to risk 0.25% to have a look.

thats what they call it in poker eh Mike...
limping in to see a flop
  • #26,630
  • Apr 8, 2009 5:59pm Apr 8, 2009 5:59pm
Quoting Shermenator
Gave a candle but not a perfect one ...reason I wont be taking this is because of the size of the candle compare to the sell off we had over the previous days. What I see from this is that price may go up but it does not look good enought for me to put my money in it...

Attachment
I agree with you Sherm on the E/Cad. I'd like to see it move up to .6535 and convince me to short to the 150 ema.

K.I.S.S.
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  • #26,631
  • Apr 8, 2009 6:31pm Apr 8, 2009 6:31pm
Quoting raczekfx
That's the plan, but there is still that little voice whispering, we're going to revisit 3800 one more time....

damn elves... hiding everywhere ...
Yep, still waiting for my ~1.3850...
  • #26,632
  • Apr 8, 2009 6:51pm Apr 8, 2009 6:51pm
Quoting markmm
Ill pass on the E/D daily pin (if it ends as one) as its heading into 3300, pivot zone, 150ema and fib confluence!!, It has its work cut out, maybe a buy stop above 3300?
I like it. I know others may pass on it. I believe its in the "A" catagory. Above the 3315-25 would be my buy. How it breaks will be the key for me. Should be fun to watch.
Indicators show the past. Price Action "Indicates" the future.
  • #26,633
  • Apr 8, 2009 6:57pm Apr 8, 2009 6:57pm
Eur/Gbp looks good at the 9000. Sorry I can't post charts.
Indicators show the past. Price Action "Indicates" the future.
  • #26,634
  • Apr 8, 2009 7:04pm Apr 8, 2009 7:04pm
I'm seeing a bunch of maybeez tonight, gonna hold out for better bars.
"Whether you think you can or can't, you're right." Henry Ford
  • #26,635
  • Apr 8, 2009 7:06pm Apr 8, 2009 7:06pm
Quoting bundyraider
Yep. Great set up. I'll be in it.

Any Base system playas out there?? ( I add the 200 EMA to it)
Morning all,
NU looks good but none of the other Yen pairs have similar setups.
As they all tend to move in unison would this not put any doubt in your mind?

Steve.
"The more I practice, the luckier I get." (Gary Player)
  • #26,636
  • Apr 8, 2009 7:17pm Apr 8, 2009 7:17pm
NZD/USD long looking nice off the 50 Fib, needs to clear around 5815 for an entry- with TP1 @5865 move to BE...Anyone watching this one? Is my analysis on target?

I'm new to longer term trading, but really like what I have been reading the last 3 weeks....Great information here...Thanks for any input.

DS
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  • #26,637
  • Apr 8, 2009 7:28pm Apr 8, 2009 7:28pm
Quoting deepsouth
NZD/USD long looking nice off the 50 Fib, needs to clear around 5815 for an entry- with TP1 @5865 move to BE...Anyone watching this one? Is my analysis on target?

I'm new to longer term trading, but really like what I have been reading the last 3 weeks....Great information here...Thanks for any input.

DS
I'm looking at this one too. Bounced around 56.50 and 150 ema.
"Don't trade to trade . . . trade to win." - James16
  • #26,638
  • Apr 8, 2009 7:35pm Apr 8, 2009 7:35pm
Still working out my plan, here's the trades I took today. Both with trends, off TL, off weekly S&R, going to try and let them ride. Only 1% on small a/c risked for each.

Eur/Gbp long @ 90.57 stop @89.77
Eur/Cad long @ 1.6437 stop @1.6297
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  • #26,639
  • Apr 8, 2009 7:42pm Apr 8, 2009 7:42pm
Quoting stoli7188
Still working out my plan, here's the trades I took today. Both with trends, off TL, off weekly S&R, going to try and let them ride. Only 1% on small a/c risked for each.

Eur/Gbp long @ 90.57 stop @89.77
I like the Eur/Gbp. Also at swing Low off a strong Daily/Weekly PPZ Round Number, 9000. Nice.
Indicators show the past. Price Action "Indicates" the future.
  • #26,640
  • Apr 8, 2009 8:12pm Apr 8, 2009 8:12pm
Hi everyone,

I'm new around here, just took read through most of this thread. Sure took awhile! There is so much great information. Thanks everyone!

Well I started paper trading and trying to locate some set ups. Here's one I found on the 4H GBP/JPY. It was a DBLHC (8 pips difference) at confluence, with a 50% retracement and a previous triple bar high. I entered 141.75 and got stopped out at 145.80. I could have let it ride for a lot longer but my stop loss was too tight.

Any comments? Willing to hear some positive and negative feedback so I can improve my trading.
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