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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

  • #34,601
  • Jun 23, 2009 11:44pm Jun 23, 2009 11:44pm
Quoting jarroo
We got to be heading for thoses Highs. I don't see anything in its way.
Yep, it's looking pretty good so far. I've already taken some off the table, and moved stops to BE, looking for TP around 159.00.
skype: ststroud. let's talk trading.
  • #34,602
  • Jun 23, 2009 11:46pm Jun 23, 2009 11:46pm
Quoting tyler812
Yep, it's looking pretty good so far. I've already taken some off the table, and moved stops to BE, looking for TP around 159.00.
Very nice tyler.
Indicators show the past. Price Action "Indicates" the future.
  • #34,603
  • Jun 23, 2009 11:47pm Jun 23, 2009 11:47pm
Yep, Jarro,. I'm on that trade. I see those highs too. Right now, I moved my stoploss to BE.
Fly to the moon?

Quoting jarroo
We got to be heading for thoses Highs. I don't see anything in its way.
What does not kill me makes me stronger. Friedrich Nietzsche,
  • #34,604
  • Jun 23, 2009 11:47pm Jun 23, 2009 11:47pm
Hello Jarroo,

What does next bar beak means?

Thanks!




Quoting jarroo
I like the "next bar break" rule that Mike has talked about. Meaning if the next bar doesn't break the setup then close the position. But I've been rethinking it during different times of the day, time frames and potiential momentum building. But its a great way to confirm or nonconfirm a potenial setup.
  • #34,605
  • Jun 23, 2009 11:50pm Jun 23, 2009 11:50pm
Quoting PippingMama
Hello Jarroo,

What does next bar beak means?

Thanks!
Hey Pipping

It simply means that the bar after our price bar takes out the high/low. For example todays daily gbp/jpy pin bar. The next day bar has broken the high validating the bar. I was speaking of how I cancel my order most of the time if the next bar does not trigger my entry order. It is sort of my take on momentum

Hope that helps
Mike
  • #34,606
  • Jun 23, 2009 11:55pm Jun 23, 2009 11:55pm
Anybody here Operates an account with Fxopen? (demo or live) This is the first time in 2 years that I am having a prolonged denied access to my platform live and demo. The website's also down...

Marcel?
I believe . . .
  • #34,607
  • Jun 23, 2009 11:55pm Jun 23, 2009 11:55pm
Quoting ikki
Yep, Jarro,. I'm on that trade. I see those highs too. Right now, I moved my stoploss to BE.
Fly to the moon?
Protecting yourself along the way. The Gbp/Jpy Daily PB is a classic high quality setup and placing stop loss below it, R:R, 2%, etc., would be a great plan as well. imo

(Thanks Mike)

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #34,608
  • Jun 24, 2009 12:13am Jun 24, 2009 12:13am
Quoting jarroo
We got to be heading for thoses Highs. I don't see anything in its way.
Im bleeding for missing this one - one of my favorite areas to long off ..

BUT having said that , i do see 2 areas of concern:
1) the downtrend line as in chart
2) cable overhead trouble

Thoughts ?
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  • #34,609
  • Jun 24, 2009 12:20am Jun 24, 2009 12:20am
Quoting pipmyride
Im bleeding for missing this one - one of my favorite areas to long off ..

BUT having said that , i do see 2 areas of concern:
1) the downtrend line as in chart
2) cable overhead trouble

Thoughts ?

Thanks pmr.

That's about the same level of some of thoses lower Highs. The 158.00-158.30ish level. I'll take it.
Indicators show the past. Price Action "Indicates" the future.
  • #34,610
  • Jun 24, 2009 12:28am Jun 24, 2009 12:28am
who is this masked man?

Quoting tyler812
Yep, it's looking pretty good so far. I've already taken some off the table, and moved stops to BE, looking for TP around 159.00.
  • #34,611
  • Jun 24, 2009 12:42am Jun 24, 2009 12:42am
Quoting jarroo
We got to be heading for thoses Highs. I don't see anything in its way.
You might want to keep your eye on this trendline
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  • #34,612
  • Jun 24, 2009 12:45am Jun 24, 2009 12:45am
Quoting wwtravel
You might want to keep your eye on this trendline
Thanks wwtravel
Indicators show the past. Price Action "Indicates" the future.
  • #34,613
  • Jun 24, 2009 12:46am Jun 24, 2009 12:46am
chart

Quoting james16
who is this masked man?
Attached Image (click to enlarge)
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  • #34,614
  • Jun 24, 2009 12:56am Jun 24, 2009 12:56am
Quoting ghous
Anybody here Operates an account with Fxopen? (demo or live) This is the first time in 2 years that I am having a prolonged denied access to my platform live and demo. The website's also down...

Marcel?
I'm sorry, I've been backtesting and have just seen this, there's no problem with mine ghous, also the website is loading fine.

How are yours now?
  • #34,615
  • Jun 24, 2009 1:04am Jun 24, 2009 1:04am
was actually looking for a short trade off the 4hr tf, resistance @ 61.8 fib, 50 ema and trendline...unfortunately didnt close as a beob on the 1 hr tf....oh well some more waatching for me....
Simplicity is the key to success
  • #34,616
  • Jun 24, 2009 1:25am Jun 24, 2009 1:25am
Quoting james16
who is this masked man?
or a woman with a muscle suit... photoshop anyone?
  • #34,617
  • Jun 24, 2009 2:02am Jun 24, 2009 2:02am
Quoting FxMatt
If I count my BE trades over the last 4 weeks 80% of my trades have been winners. I just need to keep faith with my trade once it is open and give it room to breathe.
Hi Matt,

just being curious, what would have happened to those BE-trades if you would have left your initial stop where it was?

Take care,

Marco
  • #34,618
  • Jun 24, 2009 2:43am Jun 24, 2009 2:43am
Quoting Marco
Hi Matt,

just being curious, what would have happened to those BE-trades if you would have left your initial stop where it was?

Take care,

Marco
Marco, when I checked them they would all have hit my TP before hitting my initial stop. That's quite a few pips over the 4 weeks, but picking the right entry's and noting the potential support and resistance zones carefully is important for this to work.

Matt
  • #34,619
  • Jun 24, 2009 2:53am Jun 24, 2009 2:53am
Hello to everyone,
I have a question to see if any of you could answer me....
I've been reading a lot the forum and I know that many of you, enter in PB's on the retracement of the third bar, even when the PB is not confirmated until its low/high is hitted...
My big doubt is, what technique do you use in this kind of entries?...
Do you enter right when price touch a particular Fibo level or wait until it shows any "reversal" aspect, or what do you usually do?

Thanks in advance
  • #34,620
  • Jun 24, 2009 2:56am Jun 24, 2009 2:56am
Got into this one this morning, loved the PB shape, 38fibo & 155.00 confluence.
After reading Ryan's TP's I find myself itching to change mine.
Think I'd better move stop to BE and then sit on my hands.
Loving the confluence of Jaroo with my 158.30 TP. Adds a bit of confidence to a junior!!

How about the old Bobster for a breathe of fresh air! NOT!!

Gov
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