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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

  • #32,561
  • Jun 7, 2009 8:21pm Jun 7, 2009 8:21pm
I'm with your brother Jarroo.

BTW Weekly trades are almost, dare I speak the unspeakable,too easy.
Patience + Humility + Study = Success
  • #32,562
  • Jun 7, 2009 8:23pm Jun 7, 2009 8:23pm
Quoting DutchTrader
I'm with your brother Jarroo.

BTW Weekly trades are almost, dare I speak the unspeakable,too easy.
Indicators show the past. Price Action "Indicates" the future.
  • #32,563
  • Jun 7, 2009 8:24pm Jun 7, 2009 8:24pm
Hey Jarroo,
even in weekly do you use tight stops?

Regards, Ikki
Quoting jarroo
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #32,564
  • Jun 7, 2009 8:27pm Jun 7, 2009 8:27pm
Quoting ikki
Hey Jarro,
even in weekly do you use tight stops?

Regards, Ikki
I'll increase the tight stop to 50 pip on the weeklies and adjust my position size accordingly. I may still get out below that amount if the break isn't acting like it suppose to.
Indicators show the past. Price Action "Indicates" the future.
  • #32,565
  • Edited 9:08pm Jun 7, 2009 9:07pm | Edited 9:08pm
Anyone playing this pin bar retrace?

Resistance seems to be strong at both 2.01 and 2.02 with multiple bar lows and closes.

Plan so far is to enter above 2.0 at the 50% fib line. Stop loss will be set below current bar low as long as it closes above the 2.0 line.

I'm still new to this and demoing but it seems like a decent trade to be taking and it has space all the way up to 2.01 for some easy pips.

My reasoning behind the stop placement is that it has already tested the 61.8 fib, the 2.00 line, so if it breaks the current bar low in the next bar then chances are it's going to carry on downwards.
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  • #32,566
  • Jun 7, 2009 9:28pm Jun 7, 2009 9:28pm
Quoting Tipers
Anyone playing this pin bar retrace?

Resistance seems to be strong at both 2.01 and 2.02 with multiple bar lows and closes.

Plan so far is to enter above 2.0 at the 50% fib line. Stop loss will be set below current bar low as long as it closes above the 2.0 line.

I'm still new to this and demoing but it seems like a decent trade to be taking and it has space all the way up to 2.01 for some easy pips.

My reasoning behind the stop placement is that it has already tested the 61.8 fib, the 2.00 line, so if it breaks the current bar low in...
It's an aggressive approach Tipers, that doesn't mean its wrong. Pin Bars are not Pin Bars until they break, so I tend to play retracements after they break.

Your plan looks good for an aggressive trade.

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #32,567
  • Jun 7, 2009 9:48pm Jun 7, 2009 9:48pm
would be great if i manage BE on GBP/USD weekly pin bar. don't like the break yet
  • #32,568
  • Jun 7, 2009 9:51pm Jun 7, 2009 9:51pm
Quoting datogio
would be great if i manage BE on GBP/USD weekly pin bar. don't like the break yet
I hear that. lol

But its expected this early in the session.
Indicators show the past. Price Action "Indicates" the future.
  • #32,569
  • Jun 7, 2009 9:53pm Jun 7, 2009 9:53pm
Quoting jarroo
I hear that. lol

But its expected this early in the session.
yep, expected, I'm already planing to enter somewhere else later
  • #32,570
  • Jun 7, 2009 9:57pm Jun 7, 2009 9:57pm
Hi anyone playing E/U?

Saw an enngulfing bar closing low on friday on the daily chart, plan to long now till TP at 1.4087 because think will retrace to 50% Fib of friday daily before it drop, then short from 50% Fib of friday at 1.4099.

Pleasse comment thanks
  • #32,571
  • Jun 7, 2009 10:00pm Jun 7, 2009 10:00pm
Quoting StarFX
Hi anyone playing E/U?
Saw an enngulfing bar closing low on friday on the daily chart, plan to long now till TP at 1.4087 because think will retrace to 50% Fib of friday daily before it drop, then short from 50% Fib of friday at 1.4099.
Pleasse comment thanks
http://www.forexfactory.com/showpost...ostcount=32555

I was looking for similar feedback
but looking to short at 38% Fib level
non si dimentichi mai
  • #32,572
  • Jun 7, 2009 10:03pm Jun 7, 2009 10:03pm
Looks like we have the same idea

But to be safe i will enter shrt only at 50Fib as james16 said.

Better be safe and live to fight another day

I could be wrong but i still learning.
Thanks
  • #32,573
  • Jun 7, 2009 10:12pm Jun 7, 2009 10:12pm
I will wait PA on 1.4050 for possible 4h chart short entry .
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  • #32,574
  • Edited 10:17pm Jun 7, 2009 10:16pm | Edited 10:17pm
Quoting jarroo
It's an aggressive approach Tipers, that doesn't mean its wrong. Pin Bars are not Pin Bars until they break, so I tend to play retracements after they break.

Your plan looks good for an aggressive trade.

Jim
Cheers for the thoughts. I haven't played a *sorta* pin bar retrace as of yet so was eager to try one. I'll let this one play out as it is on demo and see what I can improve on.

Quoting StarFX
But to be safe i will enter shrt only at 50Fib as james16 said.
It also has confluence with 1.41 and a bunch of recent bar lows as resistance. I'm watching this point also
  • #32,575
  • Jun 7, 2009 10:18pm Jun 7, 2009 10:18pm


Quoting Tipers
Cheers for the thoughts. I haven't played a *sorta* pin bar retrace as of yet so was eager to try one. I'll let this one play out as it is on demo and see what I can improve on.



It also has confluence with 1.41 and a bunch of recent bar lows as resistance. I'm watching this point also
  • #32,576
  • Jun 7, 2009 10:59pm Jun 7, 2009 10:59pm
OMG...lotsa EUR/USD bear...here....
none bullish???


Sonic
  • #32,577
  • Jun 7, 2009 11:01pm Jun 7, 2009 11:01pm
well that was a pretty strong break to 5900 level on the cable
  • #32,578
  • Jun 7, 2009 11:02pm Jun 7, 2009 11:02pm
Quoting Icehocey77
well that was a pretty strong break to 5900 level on the cable
Let's smash that too.
Indicators show the past. Price Action "Indicates" the future.
  • #32,579
  • Jun 7, 2009 11:03pm Jun 7, 2009 11:03pm
Quoting datogio
would be great if i manage BE on GBP/USD weekly pin bar. don't like the break yet
I'm in break even and even took some profit.
  • #32,580
  • Jun 7, 2009 11:03pm Jun 7, 2009 11:03pm
smashing
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