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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

  • #29,641
  • May 11, 2009 9:07am May 11, 2009 9:07am
I'm in this one as well and stop at B/E as well. My target is 1.7983...Go EUR/AUD only 80 more pips you can do this...if not I'll pocket a big 0 at B/E, but it's always better than a loss.

Quoting MinceMeat
EURAUD strong break of Pin bar. Stop at BE. Will see how this one runs.
  • #29,642
  • May 11, 2009 9:10am May 11, 2009 9:10am
Quoting gorubin
I'm in this one as well and stop at B/E as well. My target is 1.7983...Go EUR/AUD only 80 more pips you can do this...if not I'll pocket a big 0 at B/E, but it's always better than a loss.
Very close to my target of 1.7985 it's either that or BE for me too.

Bring it on!!!!!
  • #29,643
  • May 11, 2009 9:13am May 11, 2009 9:13am
Quoting MinceMeat
Very close to my target of 1.7985 it's either that or BE for me too.

Bring it on!!!!!
Im in this also, ive set my EA to move to break even around 1.1800, Ill then trail my stops depending on PA.
Economists have forecast 9 out of the last 5 recessions
  • #29,644
  • May 11, 2009 9:39am May 11, 2009 9:39am
Quoting markmm
Im in this also, ive set my EA to move to break even around 1.1800, Ill then trail my stops depending on PA.
EURAUD TP 1.7980 from a few days ago

Markmm, are you using the swiss army ea?
WARNING: Don't follow me as I'm just learning
  • #29,645
  • May 11, 2009 9:52am May 11, 2009 9:52am
Quoting adam777
EURAUD TP 1.7980 from a few days ago

Markmm, are you using the swiss army ea?
No a simple one that you set number of pips profit, and it goes to breakeven at that point. Breakeven expert or something. Im at work so cant see whats happening, has it hit 1.7980 yet?
Economists have forecast 9 out of the last 5 recessions
  • #29,646
  • May 11, 2009 9:58am May 11, 2009 9:58am
Quoting markmm
No a simple one that you set number of pips profit, and it goes to breakeven at that point. Breakeven expert or something. Im at work so cant see whats happening, has it hit 1.7980 yet?
euraud 1.7835 with a daily high of 1.7906 on FxPro charts
WARNING: Don't follow me as I'm just learning
  • #29,647
  • May 11, 2009 9:59am May 11, 2009 9:59am
Quoting markmm
No a simple one that you set number of pips profit, and it goes to breakeven at that point. Breakeven expert or something. Im at work so cant see whats happening, has it hit 1.7980 yet?
78.40 ish, just tested 79.00
EDIT: beat me to it ,lol
PATIENCE... DISCIPLINE
  • #29,648
  • May 11, 2009 10:01am May 11, 2009 10:01am
Quoting g_j_hook@yah
78.40 ish, just tested 79.00
EDIT: beat me to it ,lol
Great thanks, hopefully it will break 1.8000 before the days out.
Economists have forecast 9 out of the last 5 recessions
  • #29,649
  • May 11, 2009 10:26am May 11, 2009 10:26am
Quoting g_j_hook@yah


i also loved the phrase "if you cant beat your ego on a demo.....etc
brilliant. thanks mike
jon
Can't take credit for that, Fijitrader made some excellent thought provoking posts as always about this subject

Mike
  • #29,650
  • May 11, 2009 10:32am May 11, 2009 10:32am
Quoting MinceMeat
Very close to my target of 1.7985 it's either that or BE for me too.

Bring it on!!!!!
I'm in this too guys. Were you stopped out at B/E? I thought about moving my stops up when we failed 1.79 but didn't... in at 1.7840 with stop hiding under 1.76. I'll move to B/E if we retest 1.79 (since we did it once, and failed it initially). Trade your plan Josh...

Note: This did run right to where we suspected - Tuesday's low and round number of 1.79. Gotta love PA.

Josh
  • #29,651
  • May 11, 2009 10:56am May 11, 2009 10:56am
Quoting fxprocessor
Have taken partial profits and stop now at BE.

I wouldn't be suprised if it's another week or so before another good setup comes along but it will and I will be waiting patiently.
Price reacted as we would reasonably expect at my main TP area.
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  • #29,652
  • May 11, 2009 11:03am May 11, 2009 11:03am
Quoting fxprocessor
Price reacted as we would reasonably expect at my main TP area.

well done Nick, you sure got good at this stuff
  • #29,653
  • May 11, 2009 11:15am May 11, 2009 11:15am
I got stopped out at B/E. I have a feeling this one will shoot through 1.79 without me on board...oh well. I'm trying to think more long term and I think that moving to B/E after a 50+ pip run like this one will save me more times than it will hurt me. Trying to keep things in perspective...

On the other hand my CAD/CHF broke below the weekly pin....will that work? Who knows...but I sure would like it to . Swissy sure has shown a lot of strength against a lot of currencies like GBP, USD

Rubin.

Quoting Jduester
I'm in this too guys. Were you stopped out at B/E? I thought about moving my stops up when we failed 1.79 but didn't... in at 1.7840 with stop hiding under 1.76. I'll move to B/E if we retest 1.79 (since we did it once, and failed it initially). Trade your plan Josh...

Note: This did run right to where we suspected - Tuesday's low and round number of 1.79. Gotta love PA.

Josh
  • #29,654
  • May 11, 2009 11:21am May 11, 2009 11:21am
Quoting Jduester
I'm in this too guys. Were you stopped out at B/E? I thought about moving my stops up when we failed 1.79 but didn't... in at 1.7840 with stop hiding under 1.76. I'll move to B/E if we retest 1.79 (since we did it once, and failed it initially). Trade your plan Josh...

Note: This did run right to where we suspected - Tuesday's low and round number of 1.79. Gotta love PA.

Josh

Hey Josh, I'm out this one now for BE unfortunately. Lol, Watch it take off now.

Still holding onto my EURGBP long, stop at BE. Let's hope that 4 hour pin bar doesn't take me out.
  • #29,655
  • May 11, 2009 11:33am May 11, 2009 11:33am
Quoting mbqb11
well done Nick, you sure got good at this stuff
Cheers man, I have learned a lot of what I know from you
  • #29,656
  • May 11, 2009 11:47am May 11, 2009 11:47am
Quoting raczekfx
One final post on News reading...

Last night when market reopened, I shorted (@market) G/J, E/J, N/J and A/J... and then I read THIS. Dont bother reading the whole story, just first sentence ....
How do you react if you're in the trade?

1. You panic and immediately close all your positions.
2. You go have a drink and then hedge your positions by opening trades in opposite direction (see what happens)
3. You start posting on the forums, hoping someone else have the same view...
Excellent stuff, as usual!
Thanks Mark

RM
  • #29,657
  • May 11, 2009 11:52am May 11, 2009 11:52am
GBP/JPY - I entered this (demo) on close of the Thursday PB. Wasn't sure what to do when the Friday bar was an inside, but left the order (10 pips below the low of the pin) in place. It got triggered overnight and now I've been able to take half profit at 40 pips and move the stop to BE for the remainder. Happy now to let the rest run and see what happens
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When in doubt, sit on your hands...
  • #29,658
  • May 11, 2009 11:55am May 11, 2009 11:55am
Any thoughts on Eur/Gbp on the 4hr.
  • #29,659
  • May 11, 2009 12:01pm May 11, 2009 12:01pm
Quoting gododdin
GBP/JPY - I entered this (demo) on close of the Thursday PB. Wasn't sure what to do when the Friday bar was an inside, but left the order (10 pips below the low of the pin) in place. It got triggered overnight and now I've been able to take half profit at 40 pips and move the stop to BE for the remainder. Happy now to let the rest run and see what happens
Nice work Gododdin!
  • #29,660
  • May 11, 2009 12:03pm May 11, 2009 12:03pm
I pulled my EURAUD order because it didn't break on the Friday and I am travelling today so couldn't watch. In fact this edition of the TiaForex post history comes from the transit lounge of Washington Dulles airport on my way to NYC for a day or two. I even worked out that at one daily close I'll be whipping my laptop and USB modem out on the edge of the Grand Canyon. That'll be fun...

I didn't take the EURGBP or GBPCHF last week. Went for USDSGD and EURAUD instead and puled them both after the first was invalidated and the second didn't break on Friday. I'm not bothered. Good trades come along nice and regularly and there'll always be more. And looking back over my trade selection criteria I'd still pass on the GBPCHF and EURGBP if I had the option.

I'm a little down for the month on my 3rd month of minimum requirements demo because I didn't move my AUDUSD to break even where I knew I should have done. But I have confidence that this month will end profitable. The days of hoping are gone...

I'm really getting to enjoy this business, the company of you fellas and the routine of trading.

Have a great day everyone
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